No Increase in Taxes

When President Biden was campaigning for office, he reassured the American People that there would be no new taxes for families earning under $400,000 then he changed it to under $200,000 and it is yet to be seen if he keeps his word...  but, let's assume that the does keep his word.

What he did not tell the American People was the fact that he was planning to increase taxes in the following areas:

• Capital Gain tax
• Corporate tax
• Gasoline tax
• Sales tax

Capital Gains is a tax on assets that you sell after owning that asset for a few years, like one HOME or STOCKS or RENTAL PROPERTY...

Corporate tax increases means that companies will have to pay more taxes and will probably do one of two things or both to compensate:

• increase prices
• layoff workers

A gasoline tax would mean that you will not just pay more money per gallon of gasoline but you will pay higher prices for any goods that is transported where gasoline must be purchased.  This includes but is not limited to:

• food and other groceries
• clothes and accessories
• building materials
• Amazon purchases

Sales tax is obvious in that the consumer will pay more for anything and everything that is purchased with cash, credit card, foreign currency, or crypto currency.

BUT...

your income tax that you must file every April 15th if you earn less than so much income will not increase...  it's just everything else will increase...  putting you in a worse financial situation that you were in before.

If you don't believe me...  then, just wait and see for yourself...