Grover Norquist: Biden's Tax Hikes Will Pass If Dems Win Georgia
If Democrats Jon Ossoff and Raphael Warnock win Georgia's Senate runoff races, their party's control of the Senate will result in the approval of Joe Biden's planned tax increases, including the repeal of President Donald Trump's tax cuts, Americans for Tax Reform President Grover Norquist warned Tuesday.
"For a median-income family of four, that's a $2,000 increase in your taxes every year," Norquist told Fox News' "Fox & Friends"about the repeal. "To add to that, [Biden] wants to bring back the Obamacare penalty tax, which affects 100,000 people in Georgia alone and 5 million across the country, to punish you for not buying Obamacare; it's a $700 tax."
Democrats also want to raise the corporate income tax, said Norquist.
"Right now our corporate income tax is 21%," he said. "Communist China's is 25%. We have a lower tax now thanks to the Republicans ... Biden wants to bring it back up to 28% or 35%. That would be more taxes on investing in America than communist China. That will drive businesses and jobs out of the country."
Biden and the Democrats are also talking about energy tax hikes, including a gasoline tax, said Norquist.
"That is set to not only go in and increase the cost of filling your tank by about $10 each time you fill it up, but then it automatically increases without any votes from Congress ever," said Norquist. "That's their goal, to get this automatic increase in your gasoline prices and the cost of energy for your home."
Democrats also want to double the capital gains tax to "over 40%, the highest since when Jimmy Carter was president and we had the very slow economy because the capital gains tax was so high," he added.
But if either GOP incumbent Sens. Kelly Loeffler or David Perdue wins, "no tax increase will pass," said Norquist, because there will be enough Republicans in the Senate to avoid tax increases for at least the next two years and "hopefully four."