Biden Tax Hikes On Jan 1

Here’s what taxes will increase.

One thing liberal voters never like to admit is that Democrats love to increase taxes on the American people.

Sadly, taxes are going to increase on a number of things starting January 1st thanks to President Biden and the “Inflation Reduction Act” which was passed in 2022.

Here are a number of tax hikes that Americans can expect starting in 2023 thanks to Americans for Tax Reform:

1 – The $6.5 Billion Natural Gas Tax which is expected to increase the cost of your household energy bills. If you believe that your energy bills are high now get ready for a big surprise after January 1st.

2 – The $12 Billion Crude Oil Tax, Democrats were able to successfully push through a 16.4 cents-per-barrel tax on crude oil and other imported petroleum products. This increase will get passed onto Americans who purchase gasoline for their vehicles.

3 – The $1.2 Billion Coal Tax, this tax will also raise the cost of Americans to provide energy to their homes as well. This will raise $1.2 billion in taxes that will be pushed onto the American people.

4 – $74 Billion Stock Tax, when Americans now try to sell their stocks back to the company, Democrats will now impose a new federal excise tax which will lower the value of household nest eggs. This will ultimately harm any person with a 401(k), IRA or pension plan.

President Biden and the Democrats are raising these taxes to give the government additional funding to push their liberal agenda often referred to as their “woke” agenda. Middle class Americans are very unhappy about this however there is little that can now be done.