Letter: Tax Plans

Letter to the Editor

Here is what is at stake in this election: Middle class men, women and all retirees get absolutely killed by Biden’s tax plan. Joe Biden’s campaign announced that AOC will be his EPA chief and Elizabeth Warren will be his treasury secretary, overseeing taxes and the economy. Their plan is to introduce and raise seven taxes. AOC will foster a carbon tax to raise gas prices to triple the rate at the pump and also another carbon tax to raise home utilities 232 percent. Warren will introduce a massive federal tax on homes and property and a wealth tax on retirement savings (401Ks, IRAs, stocks, bonds, pensions and cash). She will also increase income taxes in 2021 and 2022. According to an analysis by the nonpartisan Tax Policy Center, a study of Biden’s tax plans vs. Trump’s current policy indicated a $35,222 increase in taxes for the average American (middle class) in Biden’s plan. Over a four-year presidential term, the middle class will pay $140,888 more under Biden over the four years. If Biden wins, retirement is not an option—if one wants to keep their home and retirement equity. Voting Biden is financial suicide.

Lawrence Weisdorn