Democrats unveil tax hike they’ll be campaigning on this year

Democrats unveil tax hike they’ll be campaigning on this year
Image: YouTube screen grab via Associated Press

[Ed. – Apparently they have a death wish.]

This week, Congressional Democrats released a detailed tax hike plan that they promised to implement if given majority control of the House and Senate after the 2018 midterm elections. So much for the crocodile tears about the deficit–Democrats want to raise taxes not to reduce the debt, but rather to spend that tax hike money on boondoggle projects.

As you might expect, hold onto your wallets. Here are the details:

Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in the top bracket levy, but it’s also a direct tax increase on small and mid-sized businesses. …

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Increase the corporate income tax rate from 21 percent to 25 percent. …

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