https://www.msn.com/en-us/money/mar...ew-the-little-guy-again/ar-AAPIw6Z?li=BBorjTa
Police release image of suspect wanted in shooting death of Fall…
Orange County Fire battalion chief fired for not reprimanding…
What was the greatest trick ever pulled? Was it the devil convincing the world he didn’t exist, as Charles Baudelaire said and Keyser Söze repeated? Or maybe it was Soviet Socialists and their acolytes persuading the world that National Socialists were right wing? Perhaps it was one of those. But in America for several decades, it is surely Democrats tricking people into believing they’re on the side of the little guy.
© Provided by Washington Examiner
President Joe Biden touts his proposal for another $5.5 trillion of welfare spending, saying it’s “an ambitious plan to create jobs, cut taxes, and lower costs for working families — all paid for by making the tax code fairer and making the wealthiest and large corporations pay their fair share.”
The White House website makes the president seem like Robin Hood taking from the rich to give to the poor. The claim is so laughable that there should also be a picture of shrunken Joe in forest green doublet and hose just to make the joke clear.
The idea that Biden’s policies help ordinary people by digging deeper into the pockets of the wealthy is a crock. As Phil Gramm, former chairman of the Senate Banking Committee, and Mike Solon wrote in the Wall Street Journal recently, Democrats want the wealthiest to be able again to deduct the sky-high taxes levied by the profligate governments they elect in blue states and slough them on to other federal taxpayers and into public debt. If Biden really planned to prevent the best-off taxpayers using sophisticated accounting to avoid liabilities, he’d have proposed restoring the Alternative Minimum Tax rather than lifting the cap from State and Local Tax deductions.
Not that I’m a fan of the AMT; I’m not, partly because wealthy Americans already contribute a bigger share of tax revenues than their counterparts do in any other country. The problem with our tax code is not that rates are too low, but they’re too high and discourage wealth creation and job growth. It’s galling to see glaringly false advertising by Biden and his colleagues as they try to fool voters into believing they’re looking out for the poor and downtrodden.
The tirelessly and tiresomely repeated claim that the president’s plan would increase taxes only on people earning more than $400,000 is false. It is already dipping deeper into the pockets of everyone in this country, right down to those living below the poverty line.
Here’s how. By handing out unnecessary federal checks, supposedly to stimulate the economy, and by pressing for the biggest increase in further spending in history, Biden is stoking inflation. Because of him, more and more dollars are chasing goods that are in shortening supply in part because there are a record 10 million job vacancies nationwide.
Prices are rising faster than wages — 5.4% year over year and more than 6% so far this year — which means that unless you get a 6% pay raise, the value of your take-home check is falling. As many economists — for example, Thomas Sowell — have pointed out, inflation is essentially a tax and one that falls disproportionately on the poor.
Federal taxes take buying power out of everyone’s pocket and put it into the Treasury to pay for welfare programs. Inflation, likewise, takes buying power out of your pocket to pay for federal spending. What’s the difference? Only that that former is official and the latter stealthy. But both intentionally do the same thing.
Police release image of suspect wanted in shooting death of Fall…
Orange County Fire battalion chief fired for not reprimanding…
What was the greatest trick ever pulled? Was it the devil convincing the world he didn’t exist, as Charles Baudelaire said and Keyser Söze repeated? Or maybe it was Soviet Socialists and their acolytes persuading the world that National Socialists were right wing? Perhaps it was one of those. But in America for several decades, it is surely Democrats tricking people into believing they’re on the side of the little guy.
© Provided by Washington Examiner
President Joe Biden touts his proposal for another $5.5 trillion of welfare spending, saying it’s “an ambitious plan to create jobs, cut taxes, and lower costs for working families — all paid for by making the tax code fairer and making the wealthiest and large corporations pay their fair share.”
The White House website makes the president seem like Robin Hood taking from the rich to give to the poor. The claim is so laughable that there should also be a picture of shrunken Joe in forest green doublet and hose just to make the joke clear.
The idea that Biden’s policies help ordinary people by digging deeper into the pockets of the wealthy is a crock. As Phil Gramm, former chairman of the Senate Banking Committee, and Mike Solon wrote in the Wall Street Journal recently, Democrats want the wealthiest to be able again to deduct the sky-high taxes levied by the profligate governments they elect in blue states and slough them on to other federal taxpayers and into public debt. If Biden really planned to prevent the best-off taxpayers using sophisticated accounting to avoid liabilities, he’d have proposed restoring the Alternative Minimum Tax rather than lifting the cap from State and Local Tax deductions.
Not that I’m a fan of the AMT; I’m not, partly because wealthy Americans already contribute a bigger share of tax revenues than their counterparts do in any other country. The problem with our tax code is not that rates are too low, but they’re too high and discourage wealth creation and job growth. It’s galling to see glaringly false advertising by Biden and his colleagues as they try to fool voters into believing they’re looking out for the poor and downtrodden.
The tirelessly and tiresomely repeated claim that the president’s plan would increase taxes only on people earning more than $400,000 is false. It is already dipping deeper into the pockets of everyone in this country, right down to those living below the poverty line.
Here’s how. By handing out unnecessary federal checks, supposedly to stimulate the economy, and by pressing for the biggest increase in further spending in history, Biden is stoking inflation. Because of him, more and more dollars are chasing goods that are in shortening supply in part because there are a record 10 million job vacancies nationwide.
Prices are rising faster than wages — 5.4% year over year and more than 6% so far this year — which means that unless you get a 6% pay raise, the value of your take-home check is falling. As many economists — for example, Thomas Sowell — have pointed out, inflation is essentially a tax and one that falls disproportionately on the poor.
Federal taxes take buying power out of everyone’s pocket and put it into the Treasury to pay for welfare programs. Inflation, likewise, takes buying power out of your pocket to pay for federal spending. What’s the difference? Only that that former is official and the latter stealthy. But both intentionally do the same thing.
You covered squat, the article is dead on, but you are a paid shill for the dnc so! I suppose you don't think Biden eliminating oil production here had anything to do with energy price!