Less than 2 months since taking office, President Joe Biden is preparing the biggest tax increase in U.S. history.
You can't say you weren't warned. It was one of Donald Trump's main talking points leading up to the election. We knew it was coming, and now it's on the way.
Republican strategist Matt Mackowiak agreed this is not a surprise. In fact, it was expected. "When you have spending plans as aggressive and expensive as this president has, you have to raise taxes" he says. "Democrats pretend they don't support raising taxes while their running for offense, but when they get into office they always try to raise taxes. And that's what is happening here."
This will be the first major Federal tax hike since 1993. In addition to un-doing Trump's historic 'tax cuts', the Biden plan calls to increase the corporate tax rate, as well as the individual rate for high income earners.
Mackowiak told KTRH, it's a really bad idea. "It's rich people who start businesses, create jobs, and hire people, and that may not be a 'politically correct' thing to say but it's absolutely true!" adding "this war on the wealthy that the Democrats continue to wage is not just bad policy, it doesn't make sense."
Biden and the Democrats also believe that the tax system is flawed, and needs to be overhauled as part of their socialist wealth redistribution plan.
And now for many voters who wanted to get rid of Trump, they're now getting a taste of the what's ahead, with an open border crisis, massive spikes at the gas pump, and now higher taxes.
But with the midterms coming up next year, Mackowiak believes this Biden move will backfire. "Tax increases are not popular with the American people, they're just not" he says. "Nobody wants to pay more to the government, and nobody wants to be accused of raising taxes, and this is going to give every Republican running the opportunity to make that argument."
At least we were warned.