Heritage Tax Policy Expert: Under the Biden-Harris Administration, Every Day Feels Like Tax Day

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Heritage Tax Policy Expert: Under the Biden-Harris Administration, Every Day Feels Like Tax Day

Apr 15, 2024 1 min read

WASHINGTON—Benjamin Franklin famously stated that nothing in this world is more certain than death and taxes, and this Tax Day, we are ever more aware of this. Amid Biden’s ongoing assault on the American taxpayer through runaway inflation, Tax Day is more synonymous with the cost of everyday life.

This year, Americans will pay about $5 trillion in federal taxes, including individual, corporate, payroll, excise taxes, and tariffs. Additionally, Americans will shell out about $2.5 trillion in taxes to state and local governments, primarily through property, income, and sales taxes. That adds up to a whopping $57,000 in federal, state, and local taxes per household each year.

Heritage Foundation tax policy expert Preston Brashers issued the following statement in recognition of the Democratic Party’s favorite holiday:

“While Tax Day only comes once a year, under the Biden-Harris administration, every day feels like Tax Day as the American people foot the bill for their radical economic inflation-inducing agenda. This tax-and-spend recipe for disaster strips families of their purchasing power, massively undercuts the value of the dollar, and drastically raises costs, leading to one of the harshest economic times in modern history. Despite the rose-colored glasses reporting of the economy, the American people are feeling the impact of inflation, which has cost ordinary citizens $8,000 in annual income since Biden took office.

 

“The Left seemingly has one answer to the world’s problems: raise taxes and spend more of your money. But the true cost of government isn’t just the taxes Americans pay — it’s also that Washington spends even more than it collects. Lawmakers should reverse course, reduce the size and scope of government, and trust Americans to spend their money better than the government can.”

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