On Tuesday, Senator Mike Braun appeared on Newsmax's "Spice & Co.," and questioned President Joe Biden's tax increases.
On Saturday, Biden tweeted "my Build Back Better Agenda costs zero dollars," to which Braun is asking, then why raise taxes?
My Build Back Better Agenda costs zero dollars.
Instead of wasting money on tax breaks, loopholes, and tax evasion for big corporations and the wealthy, we can make a once-in-a-generation investment in working America.
And it adds zero dollars to the national debt.
— President Biden (@POTUS) September 26, 2021
"First of all," the senator began, "when you're spending money, those end up being firm targets, and you never spend less as a rule, and it grows over time. When it comes to raising revenues, they've thrown about 10 or 11 ideas out there, and I do believe they will coalesce around raising the individual [tax] rate from 37 back to 39.6.
''They'll get a corporate tax hike to 25, 26, 28, from 21. And they'll probably do something with the capital gains tax. But they've got seven or eight other items there that were all for show — pixie dust — because they know even their own members wouldn't be for that," Braun said, added that government spending in 2008 and 20o9 "seems like a bargain where we only spent $800 to $900 billion."
"We're in a new dimension here," he continued. "[It's] government gone wild. It's going to unleash not only the debt consequences where rates will go up sooner or later. Inflation is already there. And now you've heard [Federal Reserve Chair] Jerome Powell is looking at tightening, you know, the interest rate picture.
''So many things can come together to take what was the best economy we had pre-COVID, and it looks like we're doing everything in the book to ruin it. And it was working back then," Braun added.
So yes, I think we would all like to know....if the Biden agenda costs zero dollars, then why raise taxes??
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