Treasury Says Whites Earn Too Much So Taxes Are Coming

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This is what Marxism will get you—high taxes and a bloated government. The Biden Regime is considering a capital gains tax between 39% and 49.6%, but don’t worry—it’s incremental. It will take a while before they ensnare everyone. This is another grift.

This is the important part:

“…some elements of the tax code exacerbate differences in income and wealth, accumulation by different racial groups, leading to greater income inequality. For example, the treasury estimates that 92% of the benefits of the tax expenditure for preferential rates on capital gains and qualified dividends accrued to white families, only 2% of the tax expenditure accrued to black families, and 3% to Hispanic families. A similar share of the benefits of the tax expenditure for the deduction for income pass through businesses accrues to each group.”

So, if you’re white, and you know how to make money, you must be brought down to the same level as people who aren’t investing and taking a risk as you had. If you’re white, you cannot be making more money, and you cannot be more productive.

The Treasury is making this into the wealthy must “pay their fair share.” While they spend trillions overseas, they claim they will use the money to give tax credits [welfare] to working families.

They want an even more progressive tax than they have now. They’re going to allegedly reduce child poverty, make health insurance more affordable, and support the middle class by expanding refundable credits for low and moderate-income workers and families.

It never works that way, and we have no reason to believe it will ever work. Socialism is actually killing the middle class.

This is exactly the ideology seeping into public education. They want to bring down the education of the advanced students, the more successful students, because whites and Asians are more successful than other groups. Instead of giving extra help to black and Hispanic students, they are going to make the majority less successful. This is the ideology of greed, envy, and victimhood.

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Morgan
1 year ago

The Western world is beyond contempt at the moment.

Taras Bulba
1 year ago
Reply to  Morgan

You spelled corrupt wrong.

DFJ150
1 year ago

We are traveling the exact same path that led to the downfall of Ancient Rome. However, modern technology is allowing us to ride the rails to ruin much more quickly, and there is zero chance we will last the thousand years they did. Sports and entertainment fans demand ever increasing doses of “bread and circuses”, and gimmedats and dindonuffins will always “vote” for more free gubmint stuff.

RevJay4
1 year ago

Is anyone, with critical thinking skills and a functioning brain, surprised by anything this current administration and the alphabet agencies do at this point? The clown world is on display everyday for all to see. The Constitution and all the laws of the land are being broken all the time for all to see and know what is coming if allowed to continue unopposed. It ain’t gonna be pretty when the marxists get really desperate to shove through their agenda completely. Think about it. Open borders, “protests” on campuses(mostly peaceful, of course), persecution of those who resist(J6ers, etc.), persecution of a political figure(President Trump and his supporters) who threatens the marxists actions via his obvious popularity with the people, so on and so on. Never doubted the marxists would raise the taxes to pay for their dreams of utopia of power and control over all the citizens. Buckle up, folks, this ride is far from over. Just sayin’.

A W
1 year ago

Make health insurance more affordable. But…but, but… I thought Obama already did that.

494949
1 year ago

If you vote for the puppet China Joe then you are either an idiot or just have your head stuck up your arse! What has done for you? He is destroying this country! Obummer and crew are behind this crap. He lies, makes up things, can’t put 2 sentences together! Wake up people!