Yes...everyone's taxes will go up! Inflation will be the biggest tax increase we all will see.
"There is a new report from Congress’s nonpartisan scorekeeper for tax policy which reveals that the Democrats’ pending tax bill will raise taxes on the middle class. If this is true, it will certainly break one of President Biden’s key campaign promises.
If the Democrats get their pending $3.5 trillion social welfare bill passed, it would be funded by a $2.9 trillion tax hike. The taxes raised would be income tax and corporate tax.
The Joint Committee on Taxation is composed of five members from the House Ways and Means Committee and five members from the Senate Finance Committee. They confirmed that in the long-term, over 85% of taxpayers will experience a meaningful tax increase or receive no benefit whatsoever from the Democrats’ tax bill.
In fact, as soon as 2023, all taxpayers from every income level will see significant tax hikes. These tax increases will hit the following percentage of wage earners:
Nearly 5% of taxpayers earning between $40,000 and $50,000;
9% of those earning between $50,000 and $75,000;
18% of those earning between $75,000 and $100,000;
35% of those earning between $100,000 and $200,000; and
59% of those earning between $200,000 and $500,000."
http://newssloth.com/2021/10/0....4/biden-likely-to-br