Tag: middle class

Screwed The Middle Class And Those Trying To Afford A Home

Home prices across the nation are back up near a record high. That makes this a particularly bad time for the Biden administration to have rolled out its new “green” energy mandates, which will add $31,000 to the cost of a new home.

The mandates are being pushed through the Department of Housing and Urban Development and while they technically won’t apply to all homes, all homebuilders will effectively be forced to comply with them.

The Biden administration doesn’t deny this higher upfront cost. It simply claims it’ll pay for itself via lower energy bills. Unfortunately, the break-even point is 90 years. 

So if a young couple buys one of these new green energy homes and has a child one year later, the regulatory costs still won’t have paid for themselves in that child’s lifetime, let alone the life of the couple who bought the home.

HUD argues that homebuilders will be able to get tax credits via the Inflation Reduction Act to offset some of these costs, with those savings hopefully passed along to homebuyers. However, this is not a real reduction in costs; it’s merely passing the buck to taxpayers. Instead of a homebuyer’s bearing the full freight of these green energy mandates, some of the cost will be passed on to taxpayers, including renters.

This is just the latest example of how failed public policies are creating a two-tiered society in America, where an entire generation of Americans will likely never be able to afford their own homes.

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How much longer are we going to put up with this Green nonsense?

No Wonder Our Wallets Are Lighter – Biden Has Taken 200 Actions To Increase Gas Prices – Prick

The cost of gasoline has skyrocketed under President Joe Biden, but he has been utterly unmindful of the burden he is putting on the American people because of his concerted war against oil, a war he proudly announced he would initiate if he won the White House.

Indeed, the war on the American energy industry is just one of the many ideological promises hurting America he made during his 2020 campaign that he has kept while in office.

As Americans suffer through Bidenomics, giving us one of the worst economies in decades, the cost of everything we need for our daily lives has soared. Gasoline has been a particular burden throughout Biden’s four years and prices have skyrocketed roughly 14 percent just over the last few months, ABC News reported.

Of the last three presidents, gas has been most expensive during Biden’s term. Forbes reported that the average price per gallon during Trump’s term was $2.57 a gallon. Obama’s was $3.12 in his first term and $2.95 in his second. By comparison, Biden’s average thus far was $3.60 as of early March.

But the price per gallon for gas is just one of the many problems Joe Biden has created for Americans with his war on the U.S. oil industry.

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Everyone Just Got A $2000 Tax Hike

Biden isn’t “canceling” student debt. He’s making everyone else pay for it. The National Taxpayers Union Foundation reported:

Public reporting indicates President Biden may soon announce executive action canceling federal student loan debt for a large set of borrowers. Though parameters of the student debt cancellation have yet to be announced, the Biden administration may cancel $10,000 of debt per borrower for borrowers making $125,000 in income per year or less.

Based on projections from the Penn Wharton Budget Model for the total cost of such cancellation, we estimate President Biden’s plan would cost the average taxpayer over $2,000.

From Legal Insurrection

The Penn Wharton Budget Model (PWBM) released a policy report on Tuesday that estimated the total cost of $10,000 in debt cancellation for borrowers making less than $125,000 per year would be $329.1 billion over 10 years. There were just under 158 million taxpayers in 2019 according to the IRS, meaning that the average cost of debt cancellation is $2,085.59 per taxpayer.

This is not a perfect proxy for cost, however, given the U.S. tax code is progressive and tax burdens are not evenly distributed across households. Accounting for the share of taxes paid by low- and middle-income households, we estimate that:

  • The average cost of student debt cancelation per taxpayer making between $1 and $50,000 is $158.27;
  • The average cost per taxpayer making between $50,000 and $75,000 is $866.87;
  • The average cost per taxpayer making between $75,000 and $100,000 is $1,477.78;
  • The average cost per taxpayer making between $100,000 and $200,000 is $3,158.35; and
  • The average cost per taxpayer making between $200,000 and $500,000 is $9,947.92.

Some may dispute that taxpayers bear the cost of canceling student debt. But the $329 billion cost of student debt cancellation would be $329 billion previously borrowed from the federal government and not returning to the Treasury. Policymakers will need to make up for that gap in the future with government spending cuts, tax increases, more borrowing, or some combination thereof.

Another bad economic decision that hurts Americans, the middle and lower class. It violates the (HA!) campaign promise of no taxes on those who make under $400,000.

The colleges have over $40 billion in endowments. They can pay for it. The universities raised costs when student loans became available. They are culpable for teaching anti-American policies and helping to ruin, not better our youth.

And, if that weren’t good news enough, you now have a 4 times better chance of being audited.

Who Is Going To Have To Pay The Taxes For the Anti-Inflation Act – Another Read My Lips Moment

And of course there is the 87,000 new IRS agents willing to arrest with violent force if you don’t pay.

Biden promised no taxes on those who make less than $400,000. Now the middle and lower classes are going to get screwed.

So not only do we have higher gas and food prices (and energy of course), we have less money to pay for it.

What kind of people do this to try and hurt Americans and lie to us repeatedly?

Taxes And Absolute Amendments

I’ve seen it, but I hope others realize that the current administration seems striving for dictatorship within the WEF guidelines, or something. It has to be that bizarre for them to be trying to sell us the goods that have been around since Covid.

The crisis has been a moving target, from Ukraine to trans-everything, but it’s becoming clearer that the best interests of Americans aren’t DC’s priority.

I want to look on the bright side, that the country would wake up and come to our senses and put in leadership that will be positive and put us back on path to prosperity and economic freedom.

I’ve seen the meme everywhere, so credit to you all and whoever started it.