The tremors are already starting; Biden’s tax plan is going to shake down the American working class and the retired class. By erasing President Trumps tax cuts and adding massive amounts of regulation means less full time employment. Increasing Payroll tax, Capital Gains tax , Income tax and a Carbon tax will cause a drop in monthly and yearly household income deteriorating the standard of living. His increasing the tax on Social Security will mean some seniors will have to find part time work or find ways to cut back on what little they have. His proposal for strict financial regulations could cause stock and retirement portfolios to take massive hits.
Biden’s tax raise on corporations and businesses is just passed on making it actually a tax increase on the consumer through higher prices.
Biden’s plan shakes out a term that was the key in the Democratic Presidential race “Income Redistribution.” That is taking your money and giving it to someone else who hasn’t earned it but wants to live on government handouts. In total it all adds up to a rise in unemployment and because of the amount of money that they will be printing inflation will soar.
The Democratic Legislature is groping for revenue to feed all the social programs that are going to be put in place.
So what are we going to do? We have to figure out ways to stay ahead of their socialism. Well one thing for is sure their plans for funding green energy and tax incentives for electric cars. For those who can these might be investments to look at. It’s your tax dollars that are paying for it , you might as well get some of it back.
With rolling lockdowns expected through 2021 there will be continued losses in businesses and production causing shortages. So possibly get groups that can work together to stock up on the necessities and plan for things that might not be available. Food storage is always a good idea. But the main thing is don’t panic and get depressed. We are Americans with or faith in God and our strong will there’s nothing we can’t overcome. We will get through this. The ones that love this country are 80 million strong and growing. There are more of us than there is of them.
Written By: Delmer Eldred