Donald Trump believes Joe Biden has broken a pledge not to tax Americans earning less than $400,000.
While the JCT is non-partisan, its analysis is only one interpretation, which attempts to forecast the potential impact and effects of the legislation in the future. It is only an estimate of what might happen, not a guarantee of what will.
"That burden comes, by the way, because in the corporate tax field the impact or the incidence of the corporate tax is passed on to workers to capital, which means to those who own the stock, people trying to invest for their retirement in a pension plan or a 401k plan and in price increases to the economy," he added.
Arguments from Trump and Crapo that Democrats have broken a manifesto pledge on taxation too, strengthens the impression that direct tax bills are going up, not that taxes on some could cost others in the long-term.
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