And here is broken promise #12 already in the first 39 days of the Biden administration. This time it deals with taxes. Back on August 23, 2020, The Hill reported on an interview with Joe Biden and Kamala Harris. One of the questions had to do with taxes, and of course Democrats love affair with raising them. Here is what Joe Biden said:
“Everybody should pay their fair share. I will raise taxes for anybody making over $400,000 a year. No new taxes would be raised for anyone making under $400,000.”
That was during an ABC interview with Harris, interviewed by David Muir. Well, it didn’t take long for that one to go by the wayside. On February 26th, Treasury Secretary, Janet Yellen told G20 members in Europe that Washington is going to drop it’s objections to a global digital tax. Yes, you heard right. The Trump administration had been against a global tax on the internet. They successfully threw up roadblocks that caused the plan to stall.
What the plan is entailing is a tax on tech companies that earn money in the G20 countries, but are housed outside of those countries. See, they can make money outside of those countries, but it’s kind of like the old sales tax dodge that had been run in the US for years. No one on the internet paid sales tax for years. Then states started realizing all of the money they were losing, and they started making companies charge sales tax on any item sold. It was taxed at the purchasers’ state tax rate, which I bet was fun to try and get figured in for the first time.
This is aimed at companies like Amazon, and Google, and Facebook, and the like, about 75 companies that may be able to make money off of the internet in foreign countries, but they have no way to collect taxes on them. And what’s going to happen? Why does that break Joe Biden’s “no new taxes under $400,000” pledge?
Very simply put, those taxes that get charged to Facebook, and Google, and Amazon, and Twitter, and the like, are going to be passed on to you and me. It may be in the form of a tax. It may be in increased fees that you pay your ISP in order to get on the internet in the first place, but trust me, you and I will be paying for those taxes. It may even show up on your ISP’s monthly bill to you as “Global Digital Tax”. But rest assured, you and I are going to be paying it.
Washington didn’t have to jump on board with this tax. And as long as the big tech companies don’t pass anything on to us, it’s not violating Biden’s promise. But the minute they do, he needs to be called on it. It IS a new tax, and it IS placed on us in that situation. No, the money may not be going to the US Treasury, but it IS because the US Treasury has agreed to it. That’s a new tax.
With 12 promises broken in the past 39 days, you can be sure of one thing. Joe Biden is not just a great plagiarizer, apparently, he’s not much for telling the truth either. Apparently it’s “Say anything as long you get elected”. Sad.
Carry on world…you’re dismissed!