Biden Vomits Marxist Talking Points In Defending Obscene Tax Hikes

Darker everyday. And the American people are …… MIA.

The under half of Americans WHO ACTUALLY PAY THESE EXORBITANT TAXES must stage a tax strike. We are approaching a vanishing point where only civil war can redress the coup.

If they really cared about fair taxation – there would be a flat tax and everyone would pay. Period.

Larry Kudlow writes:

Just a few hours before President Biden gave his class warfare pitch to level the playing field, as he calls it, and punish success, though he denies it, and falsely charge that wealthy people and large companies don’t pay any taxes, all of which is far-left, progressive, woke, Democratic claptrap, with not an ounce of truth in any of it —

Just a few hours before we had to sit through all of this, the Commerce Department retail sales release was a blowout. Instead of down big from Wall Street, the number was up big.

Even when one takes out the glitch for lower car sales, the number was even bigger than anyone dreamed of, and the core retail sales number that feeds into GDP came up even bigger than all of that.

In recent days we had a big release for industrial production, manufacturing and business equipment spending. Regional Federal Reserve surveys of manufacturing are strong.

The Institute for Supply Management numbers are strong. The 11 million unfilled jobs demand for workers is strong off the chart. Broad inflation measures may be simmering but still running at a too high 4%.

Now with all that, President Biden with a straight face tells the nation this afternoon we need a $6 trillion federal spending package. Really? Do you think anybody in their right mind believes that? Is there any common sense to this story at all?

Playing the class warfare card is not going to work. Polls show clearly that the nation favors free enterprise capitalism — not big government socialism. Who thinks there’s a groundswell for picking out small businesses and punishing them with the worst tax increases in the ways and means package?

Do you think that persons who work want the United States to have the highest corporate tax among developed countries? We would be Number 1, except for Columbia and Portugal. Communist China — a state-run economy — would be substantially lower.

Is that what we want — a capital gains tax that would be higher than 40% effectively, again, much higher than China? Is that what Americans want? Or how about this? We’ve had record profits in recent years and record corporate tax payments on those record profits following the Trump tax cuts of 2017.

Mr. Biden telling folks today that big companies don’t pay taxes is utter nonsense. People know it’s not true. The government statistics show that it’s not true. Now here’s a key point on profits: Mr. Biden and the Left might hate profits, but profits are the mother’s milk of stocks and the lifeblood of the economy.

If businesses large and small aren’t making money, then they can’t expand. They’ll have to lay off employees and contractors and surely cut wages. Our pal Dan Clifton estimates that the Ways and Means bill could cut S&P 500 profits by $100 billion — nearly half of the expected profit gain next year.

That means no wage increases for the blue collar and middle class workforce. That means no investment in new business equipment and technology to make the workforce more productive.

That means going back to the stagnation days for family income that was the hallmark of the Obama-Biden period before President Trump’s tax cuts. That’s right, tax companies, and you will go into wage stagnation. You will slow the entire economy down.

The Biden plan will throw a wet blanket over a healthy pandemic recovery. So if it isn’t broken, don’t fix it. Smart policy would make the Trump tax cuts permanent because they work so well in generating record low unemployment — including for women and minorities — and record high real wages. And record declines in poverty and income inequality.

Mr. Biden wants to level the playing field. That suggests to me that he wants to make all of us poorer, not more prosperous. I don’t like leveling. I like raising. I like opportunity. I like rewarding success. These are all reasons why I firmly believe we must save America by killing the bill.

Finally, all these good, left-wing intentions to increase subsidies for childcare, dependent care, nutrition, the child tax credit, free community college, more Obamacare, more Medicaid, more more more — none of these mores have a single workfare requirement. None.

This is government welfare dependency on a grand scale. This cuts to the heart of America’s social fabric, which the Democrats want to transform into big government socialism. In some sectors, like healthcare and energy, they literally want to take over the means of production. More insanity. So, again, save the country. Kill the bill.

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Biden goes after top 1 percent in defending tax hikes

By Alex Gangitano, The Hill, September 16, 2021:

President Biden on Thursday went after big corporations and wealthy Americans while promoting his economic agenda that congressional Democrats are working to get across the finish line.

“Let me ask you this, where is it written in that all the tax breaks in the American tax code go to corporations and the very top? I think it’s enough, I’m tired of it,” he said in remarks at the White House on the economy.

The president reiterated his calls for big corporations and the wealthy to pay their fair share in taxes, saying it’s “long overdue.”

“I’m not out to punish anyone, I’m a capitalist. If you can make a million or a billion dollars, that’s great. God bless you. All I’m asking is you pay your fair share, pay your fair share, just like middle class folks do,” he said.

Biden promotion of his Build Back Better agenda comes as Democrats are focused on passing the $3.5 trillion spending package without Republicans through budget reconciliation, along with the Senate-passed bipartisan infrastructure bill.

“How’s it possible that the wealthiest billionaires in the country can entirely escape paying income taxes on what they make?” Biden said. “For a long time, this economy has worked great for those at the very top. Ordinary, hardworking Americans, the people who built this country, have been basically cut out of the deal.”

He said his spending package gives the Internal Revenue Service the resources to get wealthy Americans to pay their taxes. Currently, the top one percent evades about $160 billion in taxes owed each year, he said.

“They play by a different set of rules. They’re often not employees themselves so the IRS can’t see what they make and can’t tell what they’re cheating. That’s how many of the top one percent pay virtually nothing,” he said.

“It’s not an even playing field, my plan would help solve that,” he added.

Moderate Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) met with the president on Wednesday as both have demanded that the $3.5 trillion package be scaled back. In the House, committees have drafted and approved portions of the package but questions remain if Democrats have the votes to pass the package with their small majority.

The president said in his remarks on Thursday that his Republican friends in Congress are “attacking” the plan and called President Trump’s 2017 tax plan a giveaway to corporations and the top one percent.

Biden said that his agenda would be paid for by the largest corporations and wealthiest Americans paying their taxes. He also touted that it would lower the cost of child care and elder care for families and confront the crisis of climate change.

“This is our moment to deal working people back into the economy. This is our moment to prove to the American people that their government works for them and not just big corporations and those at the very top,” he said.

Earlier this week, Biden traveled to Colorado to promote his economic agenda and climate provisions within it.

The president in his remarks reiterated that his vaccine mandates and testing mandates for companies with at least 100 employees are critical while the economy is recovering. He mentioned the pushback he’s getting from Republican governors, some of which have threatened to take him to court over the requirement.

“We still have a long way to go to get the economy where it needs to be,” he said.

“These policies are what the science tells us we need to do, they’re going to save lives, they’ll protect our economic recovery as well and allow the economy to continue to grow,” he added.