Ah, I hate taxes! It could be worse. At least most of Biden's new tax changes are only proposed. Just imagine how awful they'd be if implemented. On top of inflation costing you an extra 3600 per year, Biden's corporate tax increase would probably add an extra 1600 on top of that in reduced wages. How is that even possible? He wants to raise corporate taxes, not individual rates! Corporate taxes aren't paid by investors and business owners. Research shows they're actually paid by workers via reduced wages and by consumers via higher prices. Higher taxes also tend to mean lower investment, which means lower wages for workers over time. The U.S. already has the third highest corporate tax rate in the world. Raise it anymore and will be even less competitive and attractive to businesses overseas, resulting in decreased investment in our economy, which is the last thing we need right now. I guess those tax increases aren't all going to the rich after all. Yep, under Biden's proposed plans, 60% of Americans would see tax increases, about $3,000 more per year on average. What?! As far as taxes that are targeted at the rich, for everyone who makes more than a million dollars, the capital gains tax would increase from 20% to 40%. At least that wouldn't affect me. Unless you were a small business owner seeking investors, you're going to see a lot less investment in risky ventures with a higher capital gains tax. Well the people aren't stupid. Would you gamble with money that was 100% years to only keep 60% of the winnings? I guess not! It's rare for politicians to understand the unintended consequences of new taxes, and even rare for them to care, and with an economy that's just barely limping along, it's probably best to leave people alone, rather than take more of their money. Thank you so much for watching. Please like, share and subscribe to the channel. Also check out the links in the description, because we bring the receipts, and leave a comment below. We'll see you on the next wonderful, exhilarating episode of Common Sense Cellbox. Check it out.