Many democrats for many years have been saying that if they get into power any tax increase will be only on the rich.

Well, we're only about a month into Biden's presidency and his EO's are already having an impact on the middle and lower class.

Around where I live gasoline prices have gone from around 2.20 to 2.60 in a matter of few weeks. That's almost a 20% increase.

Let's say the average working family which owns two cars spent 50/week on gasoline. Now they are looking at 60/week. That's around 520 bucks per year. That 520 dollars/year 'tax' on the average family could easily triple.

The fact of the matter is the country is still barely open and we're still in the deep of winter with not much traveling. If I was a betting man I think we see $3/gallon gas prices during the summer, and we could see 4/gallon sometime in the near future if Biden keeps going after gasoline producers. There's a reason why Buffett just bought Chevron stock.

“Only rich people use and buy fossil fuels” -(D)s/lefties/“lincoln” project/biden supporters

This post was edited by excellence on Feb 19 2021 11:06am

Wait for power bills. Hikes in coal and natural gas taxes will show there. Thankfully right this moment, all my power is dam/hydro. No need to worry. I predict at least a 50% hike, were we still living in the midwest, where 80% of our power had come from the combination of natural gas/coal.

This post was edited by InsaneBobb on Feb 19 2021 11:21am

Politicians lie all the time... why are you surprised? Lol.

Because you’re an imbecile that votes for them, because they lie so sweetly into your ear.

Remember, Trump's 2017 tax cuts for the middle class phase out this year. So you're getting fucked there, too.

they’ll extend those. Its politically stupid not to especially when the Democrats have full institutional control. Bush’s middle class tax cuts were extended multiple times until they were made permanent.

Yeah, if Biden is going to make true on his promise for only raising taxes on those making $400K+, then he'd have to push Congress to have that rescinded. Mind you, he's a politician, and we all know about politicians and their promises.

i actually expect him to get that one done. it's par for the course across multiple administrations when it comes to middle class tax cuts