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.
Biden Treasury Department says we need higher taxes on capital gains because it would hurt white people more and take away their wealth.
Whites own too many stocks and businesses, so they need to pay. pic.twitter.com/JVv9T4zL2q
— Richard Hanania (@RichardHanania) April 25, 2024
The Western world is beyond contempt at the moment.
You spelled corrupt wrong.
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… Read more »
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… Read more »
Make health insurance more affordable. But…but, but… I thought Obama already did that.
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!
Isn’t this a violation of the Constitution. I realize that the Left regards the Constitution as a form of toilet paper but perhaps its time we realize that the Left is just pure waste that crawls out of the dankest of sewers.
It’s been observed innumerable times that you cannot help some by hobbling others…but it’s a core tenet of Marxist doctrine. And the people holding Joe Biden’s reins are pure Marxists.