The challenges facing the U.S. housing market and the commercial real estate markets will not be acknowledged by President Biden tonight in his State of the Union address.
The advanced “fact sheet” of the speech released by the White House did not include the words “housing,” “mortgage” or “real estate.” However, the speech will outline a Biden agenda that proposes increasing the corporate tax rate to 28% and the corporate minimum tax to 21%, denying corporate tax breaks for multi-million-dollar executive compensation and quadrupling the stock buyback tax.
The White House “fact sheet” proposed to levy a 25% minimum tax on Americans making than $100 million – roughly 0.01% of the population. The “fact sheet” also stated how Biden seeks to make “the wealthy to pay their fair share toward Medicare to extend Medicare solvency” while also “ensuring that the IRS can continue to collect taxes owed by wealthy tax cheats.”
“While big corporations and the wealthy will pay more in taxes under President Biden’s policies, President Biden opposes tax increases on middle-class families,” said the White House’s document. “He has pledged that under his Administration, no one earning less than $400,000 will pay an additional penny in federal taxes—not one penny.”
Photo courtesy of the White House
Update: Several hours after this article was published, the White House offered a last-minute “fact sheet” with housing proposals that were briefly cited in the State of the Union speech. Those proposals are outlined in this article.
Everything this man does is hurting our economy
Inflation is the worst and most harmful tax increase to the middle class.
Biden is a tool. We are witnessing the controlled demolition of America. You know when these destroy America members say the word “democracy”, they are referring to THEIR democracy; it’s code for their cabal, you know, the club that you’re not in.
It is obvious you hear what you want to hear or what someone else wants you to hear. Are you wanting to be in a democracy club with all America or a fascist cult with only your “chosen one”?