Biden: You're just going to love my plan
to punish the successful
Hot Air,
by
Jazz Shaw
Original Article
Posted By: Dreadnought,
3/28/2022 12:25:55 AM
The President is getting ready to roll out his proposed budget for fiscal year 2023 this week and if he has his way, Elizabeth Warren will be over the moon with delight. A document released by the White House yesterday indicates that Joe Biden will be asking for a new “Billionaire’s tax” to be included in the budget, setting a minimum tax rate of 20% on some of the wealthiest Americans. But as with most everything that emerges from the swamp these days, the name of the new tax doesn’t match with what it actually does. And while this proposal will certainly boost Biden’s support with the Squad
Reply 1 - Posted by:
itsonlyme 3/28/2022 12:35:51 AM (No. 1111926)
The number of penniless parasites within the Democrat Party is staggering. They desire to be instant millionaires while sitting at home watching re-runs of the Kardashians.
11 people like this.
Reply 2 - Posted by:
singermom9 3/28/2022 2:27:53 AM (No. 1111951)
Start with Al Sharpton. I understand he never pays taxes. Go Get him joey.
15 people like this.
Reply 3 - Posted by:
Trigger2 3/28/2022 3:29:12 AM (No. 1111962)
Taxing someone because a stock price went up is totally unconstitutional. But I suppose it's one way to tank the stock market to usher in his "new world order" with fake money.
11 people like this.
Reply 4 - Posted by:
coyote 3/28/2022 4:11:32 AM (No. 1111978)
There is an election coming up, this is part of the campaign. The whole thing will disappear next year.
6 people like this.
Reply 5 - Posted by:
bgarrett 3/28/2022 6:27:16 AM (No. 1112005)
Biden is aiming this tax at Elon Musk
7 people like this.
Reply 6 - Posted by:
rytwng 3/28/2022 6:52:09 AM (No. 1112020)
Does anyone think that Brandon came up with a budget?The Moron isn't capable of making change for the paperboy.
15 people like this.
Reply 7 - Posted by:
F15 Gork 3/28/2022 6:54:13 AM (No. 1112022)
These tax the rich schemes always hit the middle class the hardest......there just aren’t enough truly rich folk to make a difference. Somehow tax increases always seem to trickle down to those making under 100K, or whatever is middle class nowadays. Part of Bidenomics is to destroy the middle class anyway. This should do it.
8 people like this.
Reply 8 - Posted by:
lakerman1 3/28/2022 7:32:37 AM (No. 1112051)
Dementia Jo is crossing a river of stupidity that cannot be withdrawn from.
If the dimocrats do this, and yields come up short, they will go after the rest of us.
That would not be new. Dollar Bill Clinton, back around 1994, had a girl assistant secretary of the treasury, who proposed that a certain percentage, 13 or 14 as I remember it, be scooped from every American's pension fund, 401K, 403B, and every other related fund,
That money, she said, would solve our budget deficits forever.
I remember discussing it with my graduate students in a Benefits Administration class, and the implications, along with the probability of broadening percentages taken in future years.
This is insane anti-economic rationality. Is the entire government going dementia??.
9 people like this.
Reply 9 - Posted by:
JrSample 3/28/2022 8:03:32 AM (No. 1112082)
Another of Biteme's lame attempts to distract voters from inflation and high energy prices, that his inept/incompetent policies have made much worse.
5 people like this.
Reply 10 - Posted by:
Clinger 3/28/2022 8:36:31 AM (No. 1112123)
I can't imagine a better way to stop the uberwealthy from investing in America than the unrealized capital gains tax. I also can't fathom the depth of the ramifications of that, I just know the direction and that it would be catastrophic.
FTA: "The idea that high earners aren’t “paying their fair share” is simply a display of intentional ignorance."
We need to do better than repeating this simple fact. As a group the fact stands without question. The problem is that specific exceptions are leveraged to manufacture the lie that the rich don't pay their fair share. The public at large has bought into that myth. We need a crisp response based on an examination of who has a sweet deal and how that happens to be, or why it may appear to be the case on the surface but in fact is not.
3 people like this.
Reply 11 - Posted by:
Samsquanch 3/28/2022 9:06:14 AM (No. 1112157)
Doesn't Grandpa Simpson realize the reason they're billionaires is because they know how to hide their $$ with the best accounts, etc. The middle-class will take it in the shorts like we always do.
6 people like this.
Reply 12 - Posted by:
justavoter 3/28/2022 9:07:13 AM (No. 1112158)
Like the tax on the "just the millionaires" a hundred years ago that gave us the IRS and everybody paying taxes except the "poor". Yea.
4 people like this.
Reply 13 - Posted by:
Starboard_side 3/28/2022 11:04:57 AM (No. 1112301)
It never just ends with the billionaires, it will eventually lead to everyone else, as they always need more money, and billionaires and millionaires won't cover the expanded scope of government.
It will include things like the "unrealized gains" in your home value. And, you'll be required to pay the tax.
Just imagine, most who own a home have seen prices increase significantly in the past couple years, which means you have "unrealized gains" which they intend to tax simply to support the government programs, pensions and benefits.
They aren't interested in growing the economy any more it seems.
2 people like this.
Reply 14 - Posted by:
privateer 3/28/2022 1:10:18 PM (No. 1112439)
How about sending in those taxes with a check on an unrealized bank account?
1 person likes this.
Reply 15 - Posted by:
doctorfixit 3/28/2022 4:19:13 PM (No. 1112620)
Biden is walking proof (not living proof, walking proof) that there is no such thing as a "moderate" Democrat. Democrats are rabid Bolsheviks.
0 people like this.
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