With the election coming up, the IRS plans to reduce our taxes for 2025. it’s a common tactic to make it seem like they won’t tax us into oblivion once they return to office.
CBS News:
Some Americans could see lower federal income taxes in 2025 due to an annual bracket adjustment by the IRS. On the down side, this relief could be more modest than over the past two years.
The IRS typically announces its new tax brackets each fall, but experts are already forecasting next year’s adjustments by crunching the same inflation data the tax agency uses in its annual resets.
If Kamala Harris wins, her announced tax plan will seriously harm the middle class and small businesses. You can listen to the short clip in which Grover Norquist explains how devastating her tax plan is. Taxes are the whole of her economic plan. You can also read about it on the Tax Reform website.
Expect price controls, the repeal of Trump tax cuts – which means an increase for every federal taxpayer, doubling of tax credits will go away, expensing on new investments – gone, the addition of a second death tax on all the Bideninflation in your lifetime and that is in addition to the regular death tax. She will raise the corporate tax rate to make us non-competitive globally. Kamala will end small business breaks and raise taxes on energy. Unrealized capital gains taxes will eventually hit everyone.
