The Democrats in control of Congress and the presidency seek to transform our county. If they are successful in passing and signing into law the $3.5 trillion reconciliation package that is being forced through Congress via arcane budget procedures, to the objections of both Republicans and Democrats, Americans will see the biggest expansion of government accompanied by the largest tax increase in a generation.
While the specifics have not been finalized, expect to see the corporate tax rate get raised from 21% to 28%, the highest business tax rate in the developed world. The top marginal rate would go up as well, while the income threshold would be lowered, breaking the president’s promise to not raise taxes on anyone making under $400,000. And the elimination of a “stepped-up basis” would devastate family businesses. This is all to provide some funding for the Democrats’ expensive policies, adding trillions of dollars to our already significant debt over the next 10