Staff Reports
In recent news, the Democrats are discussing raising taxes and imposing new taxes on companies and wealthy individuals. President Biden proposes increasing corporate taxes and imposing taxes on billionaires and even those making $75,000 or more. This can be seen as taking money that belongs to others without permission or proper justification, similar to stealing.
Senator Bernie Sanders also wants to limit how much drug companies can charge for certain medications like Wegovy and Ozempic. While these drugs may be expensive, it’s essential to realize that developing new drugs can cost millions of dollars and take a long time. Restricting what drug companies can charge may discourage them from creating new life-saving medications, ultimately hurting patients in need.
American Thinker: Progressives Shalt Steal https://t.co/UPrTN46a1h
— Ian Hansen 🇺🇸🇺🇸 (@IanHansenFeed) July 2, 2024
The Biden administration’s plan to raise taxes could negatively affect the economy. It may lead to companies moving their money overseas where taxes are lower, resulting in less investment in the U.S. economy, slower growth, and fewer American job opportunities. Additionally, the proposed tax increases would impact not only billionaires but also individuals making as little as $200,000, affecting middle-class Americans.
It’s essential to understand that taxing corporations and the wealthy excessively can have broader consequences, such as lower economic growth and reduced job creation. When the government takes more money from businesses and individuals, it may lead to higher prices for goods and services, making it harder for everyday people to afford necessities.
