President Biden has not been kind to retirees when it comes to taxes.
The issue of taxation and its impact on retirees has always been a contentious topic in politics. It seems that President Biden, despite his public image as a supporter of the middle class, has not been kind to retirees when it comes to taxes.
One of the most alarming revelations is the fact that Biden himself took advantage of a tax loophole to avoid paying over $500,000 in payroll taxes. This blatant hypocrisy is just the tip of the iceberg when it comes to his treatment of retirees.
In a move that has sparked outrage among many Americans, Biden has allocated $80 billion to the IRS in order to hire 87,000 new auditors. This massive influx of auditors is not meant to go after wealthy tax evaders, but rather to target the hardworking middle-class individuals who are trying to save for retirement.
This is not the first time that Biden has set his sights on retirees. In 1983, he voted to impose a 50% tax on Social Security benefits, a move that hit retirees hard. Then in 1994, he voted to increase this tax to a whopping 85%. And now, he is pushing for a $4.7 trillion tax hike that will further burden retirees with punishing taxes on their retirement investments and even Medicare.
It is clear that Biden’s actions do not match his rhetoric of supporting the middle class. By targeting retirees with hefty taxes, he is effectively waging a silent war on those who have worked hard their entire lives to save for their golden years.
Many retirees are now left wondering how they will be able to make ends meet in the face of these escalating taxes. With the cost of living on the rise and their retirement savings dwindling, they are left feeling betrayed by a president who promised to have their backs.
As Biden continues to push for massive tax hikes, it is crucial for retirees to speak out and make their voices heard. They deserve to enjoy their retirement years without the fear of being financially burdened by unfair taxes.
President Biden’s actions speak louder than his words when it comes to supporting retirees. By targeting them with exorbitant taxes, he is effectively waging a silent war on those who deserve better treatment in their golden years. Retirees must stand up and demand fair treatment from their government in order to secure a brighter future for themselves and generations to come.
