President Joe Biden has repeatedly promised not to raise taxes on people making less than $400,000. It was a staple of his presidential campaign, and he continued to say it after being sworn in.
Most conservatives and honest observers didn’t believe him at the time. They saw his agenda, understood the price tag would be huge, and figured higher taxes for everyone would be inevitable.
The New York Times revealed this week that skeptics were right to give his “no taxes” vow the side eye after it obtained Biden administration documents showing the president’s actual tax-and-spend plans.
Less than two months into his first term, the president’s team already began changing the terms of Biden’s promise. No longer would his promise to not raise taxes apply to individuals making less than $400,000 — instead, the threshold would apply to families, CNBC reported.
Now, as the White House prepares to officially present its new budget, it appears that Biden’s promise is getting another revision.
The Times reported Thursday that the president’s massive new budget, which he will unveil Friday, “would take the United States to its highest sustained levels of federal spending since World War II.”
Biden’s budget, which starts with a $6 trillion spending plan for this year, would increase total annual spending to $8.2 trillion by 2031. – READ MORE
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