N3: IRS Will Panic After Hearing Biden’s Latest Gaffe - It Will RUIN Them!

The President of the United States of America said it on video making it binding.

I'm not paying anymore.

He can pay those off in the penitentiary.

WATCH: Biden Says Anyone Making Less Than $400,000 a Year ‘Will Not Pay a Single Penny in Taxes’

By Rudy Takala / May 3rd, 2021, 5:25 pm

President Joe Biden said in a Monday gaffe that anyone making less than $400,000 annually wouldn’t pay a “single penny” in taxes under his plan.

“The reason I’m bothering to do this is I keep hearing out in the press, ‘Biden’s going to raise your taxes,'” Biden said during an address at a community college in Portsmouth, Va. “Anybody making less than $400,000 a year will not pay a single penny in taxes. And we will not increase the deficit, either, unlike the last gigantic tax cut...

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He needs to be held to this promise!

But I wont hold my breath!

This is what my accountants say is coming:

- Increase the top tax bracket for ordinary income to 39.6% from 37%;

-Tax all capital gains at ordinary income rates for taxpayers with income over $1,000,000. This would raise the tax rate for long term gains for these taxpayers from 20% to 39.6%. The top tax rate would be 43.4% including Net Investment Income Tax (NIIT);

- Remove the ability to step-up the basis of assets at death for unrealized gains in excess of $1,000,000;

- Remove the ability to perform a like kind exchange on the sale of real estate if the gain is in excess of $500,000;

- Increase the applicability of the NIIT (3.8%) to all income over $400,000; and

- Completely close the carried interest provisions. Under the Tax Cuts and Jobs Act of 2017, Congress put a three-year holding period to achieve long term treatment. The American Families Plan will remove the potential for long term tax treatment completely.

While there are many tax increases in the plan, there are a few increases that have previously been mentioned by the administration that appear not to have made it into the proposal including: reducing the current estate tax exemption and a repeal of the Qualified Business Income deduction.

The President of the United States of America said it on video making it binding.

I'm not paying anymore.

He can share a cell with son Hunter and cackling Kamala.

He's so senile that he forgot to stop the ridiculous campaign promises even after he "won"...

Yep, your right!

:bidensucks2:

All that effort with the set, wardrobe, cameras, etc. and he can't even shave.

Push the coffee cup to one side or, better yet, get rid of it.

If they ever build a statue of this turd, that is the pose they need to use.

He's so senile that he forgot to stop the ridiculous campaign promises even after he "won"...