Tag Archives: taxes

The Biden Tax Plan

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…will be a disaster for our economy.  Here are some examples of the damage Progressive-Democratic Party Presidential candidate Joe Biden’s tax plan will inflict.

Earnings reductions are directly translatable into jobs reductions—higher unemployment.

And this bit of cynicism from “a campaign employee” that’s all too typical of Biden himself:

There is no reason that an economic plan that asks everyone to pay their fair share while doing more to reach full-employment quicker with more jobs and stronger growth should not help everyone from essential workers to investors.

Notice that: the campaign, along with Biden and his—I am the Democratic Party—Party, steadfastly refuse to say what their fair share is, besides more.

Raising Taxes on Day One

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That’s what Progressive-Democratic Party Presidential candidate Joe Biden has said he intends to do; his latest iteration of that intent was last Thursday in a CNN interview.

I’d make the changes on the corporate taxes on day one[.]

Leaving aside the…foolishness…of implementing such an attack on our economy’s health, there has been pushback on the Day One timing—no President, not even a Progressive-Democratic one, can raise taxes by fiat; such a move can only come from the Congress (and subsequently signed by a President or his veto overridden).

That brings up the scenario by which such a raise could, in fact, be implemented on the first day of a President’s term.

Recall that the new Congress always is seated roughly two-and-a-half weeks before the President is inaugurated. (That’s useful, since in the event a Presidential or Vice Presidential candidate doesn’t achieve an outright majority in the Electoral College, it’s the relevant house of Congress that selects the President or Vice President.) If the new Congress has Progressive-Democrat majorities in both the House and the Senate, it easily can pass the relevant tax increases and have the bill ready for the new President to sign into law in the hour after his swearing-in on 20 January 2021—Day One.

That adds to the premium on voting Republican all up and down the ticket in a bit under two months.

The Size of the Drift

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ABC News anchor George Stephanopoulos is the latest member of the media to portray Senator Kamala Harris (D, CA) as a moderate choice for Joe Biden’s running mate.

Stephanopoulos went on to add

Kamala Harris comes from the middle of the road, moderate wing of the Democratic party….

Harris’ positions include

  • supporting vastly raising tax rates, beginning with—but not ending there, rescinding the 2017 tax rate cuts
  • eliminating private insurance altogether and replacing it with Senator Bernie Sanders’ (I, VT) Medicare for All
  • limiting, in contravention of the 2nd Amendment, Americans’ access to weapons of which she personally disapproves
  • legalizing marijuana, never minding the damage marijuana chemicals do to developing brains
  • pushing for the Green New Deal
  • supporting far more open borders than currently exist—no more wall
  • canceling outright up to $20,000 in student loans for selected groups of students
  • heavily limiting the ability of oil and gas companies to produce the energy our economy needs
  • raising the minimum wage to $15/hr
  • “studying” reparations
  • eliminating the Electoral College
  • removing most of the existing limits on abortion.

She’s likened police departments to the KKK.

She’s also the most liberal and least inclined to bipartisanship of all the Progressive-Democrats in the Senate according to GovTrack.

It’s a strong measure of how far left the Progressive-Democratic Party has gone that a person with those positions is considered a member of the moderate, middle of the road wing of the party.

Pen and Phone

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The editors at The Wall Street Journal expressed worry about President Donald Trump’s use of his “pen and phone” over the weekend to render the Congressional Progressive-Democrats’ obstructionism regarding Wuhan Virus relief for Americans irrelevant. They think he’s aping too closely ex-President Barack Obama’s (D) pen and phone.

It’s true that Trump is using his pen and phone. The differences between his actions and Obama’s, though, are two: Trump is undoing Obama’s pen and phone actions, not creating new things—with this exception, which is the other critical difference: Obama’s actions were largely illegal, struck down on legal challenge; Trump’s have proven legal, in the main, upheld on legal challenge.

The editors are worried about this use in particular:

Mr Trump’s FEMA order is a bad legal precedent that a President Kamala Harris could cite if a GOP Congress blocked her agenda on, say, climate change.

This is mistaken. For one thing, not doing a useful thing because a bad person (of either party) might misuse it later is simply foolish. If the thing is useful, it’s usefully done. Full stop.

For another thing, Obama already set the general precedent—Congress not performing to his satisfaction was his rationale for his own pen and phone use.

Finally, the question of precedent enabling a President Harris to use FEMA funds on her global warming agenda—to take a particular example—is plain wrong. Harris needs no precedent to use FEMA funds for her agenda; she’d do that anyway. And set her own precedent, without a care.

RTWT, though. Aside from this last item, it’s a generally soundly reasoned piece.

“We’re Losing Taxpayers When We Need Them Most”

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That’s what Congressman Tom Suozzi (D, NY) said on the House floor, with an absolutely straight face, as he was attempting to add the Progressive-Democrats’ current move to protect their rich constituents: repeal of the $10,000 SALT cap, which limits the State and Local Taxes that can be deducted from Federal income taxes.

The SALT limit only hits the rich, and it only hits those in Progressive-Democrat-run jurisdictions.

We’re losing taxpayers when we need them most.

They’re not human beings, citizens who pay taxes. They’re taxpayers. In particular, they’re rich taxpayers who happen to be human beings, citizens. Progressive-Democrats don’t care a fig about their citizen-constituents, and they’re especially not really protective of their wealthiest citizen-constituents.

They just want their money.

There’s this bit of cynicism, too, from Suozzi:

The people who can’t afford to move or just don’t want to move are the ones left behind holding the bag.

But the bag they’re left holding is the Progressive-Democrats’ spendthrift ways and usurious tax schemes.

It’s inconceivable that these folks should adjust their tax rates and their spending so as to not send citizens packing.