Wheeling, W.Va (WTRF)
President Biden has announced a few different packages. Now he’s announced how he will pay for everything.
Part of the plan is to raise taxes for the top one percent of American income earners.
Montverde Group Financial Advisor Jason Haswell says he has a hard time believing that alone will cover the cost.
He said these packages cover some items we need, but they continue to become bloated with unrelated expenses which drive up the cost.
Taxing the one percent may not seem like it will affect most of the country, but Haswell said it probably won’t stop there.
“When they do the numbers, they say we’ve got plenty to pay for it. And what happens five years later, well we didn’t have enough to pay for it. So then we had to move to a middle class tax. It’s hard for me to believe that you can take 2/3 of one percent of the people and get enough tax dollars to cover all of the things he is talking about right now.”Jason Haswell – Monteverde Group Financial Advisor
He also said they should take the money and designate where it will be going, to make sure it benefits the American people as much as possible.