Read His Lips: More New Taxes

President Joe Biden has announced he will raise “some taxes” in the budget he is proposing this week to Congress. Biden again claims no one making less than $400,000 a year will pay more taxes.

The federal government receives record amounts of revenue, but spends and borrows in ways that add to the astronomical and unsustainable $31 trillion debt. As The Wall Street Journal noted in an editorial, “The Internal Revenue Service recently released its income and tax statistics for 2020 and they show the top 1 percent of earners paid 42.3 percent of the country’s income taxes…a two-decade high in the share of taxes the 1 percent pay.” The president repeats the false claim that “the rich” aren’t paying their “fair share.”

Sen. Joe Manchin, D-W.Va., is partially right when he says “You can’t basically just tax your way out of debt. You can’t borrow your way out of debt and you can’t cut your way out of debt.” In fact, you can cut the debt by spending and taxing less.

Let’s start with improper payments made by federal agencies. According to reporting by The Washington Examiner, such payments totaled $175 billion just in 2019, as calculated by the government website

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