Democrats want a massive tax hike on everybody— including you, dear reader— if they ca n’t get an even more massive tax hike on” the rich” and” corporations” when Donald Trump’s 2017 tax cuts expire next year.
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” The main goal here is this ca n’t just be a debate about the 2017 tax cuts”, Sen. Mark Warner ( D- Va. ) said, completely unshy about the threat. He told Bloomberg next year,” This is going to be Tax Armageddon”.
Prepare for the end of the world.
In the first year since Trump’s signature tax cuts became law, federal income tax revenues increased by almost$ 100 billion, and they increased by almost$ 40 billion in 2019. That expansion was hampered by the absurd and superfluous COVID-19 lockdowns in 2020. Since then, incomes have continued to boom. Much of that “growth” was an illusion created by inflation, yet, and the remainder was due to increased income on energy and firms which, of course, got passed on to customers.  ,
Reminder: Corporations do n’t pay taxes, they collect them.
But Democrats are only getting started. The taxman not only works for” the wealthy.”
Democrats are not afraid to recoup their wasting woes by taxing the poor Bastards of the Stone Age.
Ok, there are two problems.  ,
Liberals need to repeal the Trump tax breaks in a desperate effort to repeal them, according to Orange Man Bad, despite their customary covert claim of “taxing the wealthy”;
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Speaking at the Washington Center for Equitable Growth last week, Sen. Elizabeth Warren ( D- Mass. ) said,” Better to let all the Trump duty reduces expire than been accomplices to another slice- and- burn tax windfall for America’s billionaires”. Democrats continue to float trial balloons about doing exactly that, while Democrats pretend to follow President Joe Biden’s pledge to not raise taxes on anyone making less than$ 400,000.
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” We’ll have to make a ton of decisions regarding whether or not to extend breaks.” We have n’t made decisions about that yet”, Sen. Bob Casey ( D- Pa. ), said of Biden’s promise, according to Roll Call.
Language: We are absolutely determined to duty you poor sods back to the Stone Age.
The Democrats ‘ unwavering need to establish an illegal wealth tax is the second problem.
Sen. Ron Wyden ( D- Wa. ) The Wall Street Journal reported last Thursday that the president of the Finance Committee “revived his pitch to tax the appreciation of assets for those with at least$ 100 million in income.” ” Wyden intends to bypass the door on success taxes,” according to the Supreme Court’s sad decision on Thursday in Moore v. U. S”.
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Warren is already taking the wealth tax route, with threats of a 2 % annual tax on households with over$ 50 million in net worth. The real target of a wealth tax, however, is the retirement accounts ( and appreciation in home values ) of regular Americans, because, as bank robber Willie Sutton is supposed to have said,” That’s where the money is,” just like the income tax, which was originally intended to only be levied on” the rich”
What we learned from 2009- 2011 and again in 2021- 2023 is that if you give Democrats power of Capitol Hill and the White House, they may jack up investing into the atmosphere.
They want us to pay the bill now that their group is expected.
” Tax Armageddon”, Warner called it.
Yeah, it’s the end of the world — and I feel screwed.