Here’s a fun new toy released by the Tax Foundation that shows how President Biden’s income redistribution effort will make American taxpayers winners and losers, with Coloradans in the losing column.
The average tax change for Coloradans starting next year is an additional $ 731, increasing annually to $ 1,715 per year for a total of nearly $ 13,000 over the next decade.
The map shows by congressional district how much some Coloradans will be affected more than others.
Annual tax increases for Coloradans will average almost as much as California’s. So that sucks.
The Tax Foundation says the tax increases are proposed in the Biden budget, the American Families Plan, and the American Jobs Plan.
Those measures would raise $ 2.3 trillion in new taxes on high-income individuals and businesses and provide $ 998 billion in refundable tax credits to low- and middle-income households for a net tax increase of $ 1.3 trillion. (conventionally estimated during the 2022-2031 budget window). ).
Click here to play with its interactive map based on electoral districts.
Share it with all your liberal friends on social media and remind them that this would not happen if the Republicans were still in control of the House of Representatives, the Senate, or both.