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Topic: The sum of all fears!
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ukcatfannfl
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Member # 1425
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posted 09-10-2021 12:12 PM
The Sum of All Fears
--Larry Kudlow
So what did they hide, and when did they hide it? Key Democratic committees — Ways and Means in the House and Finance in the Senate — are marking up unheard of spending and taxing plans. Right now. Yet they are not telling the public what they’re really up to.
The answer to “what did they hide?” and “when did they hide it?” is that they’re hiding it now, and information is starting to leak out on specifics. There’s no question that the Democrats want this $3.5 trillion reconciliation, which is really going to be more than $5 trillion, to avoid public scrutiny and to roll rapidly through both houses just to get it done.
...Of course, we knew of the centerpiece policies of corporate taxes, international taxes, capital gains taxes, individual taxes, small business taxes, estate taxes, all that stuff has been out there for quite a while. It’s a tax assault on business and investment that will cripple the economy, generate higher inflation, and be paid for mainly by the blue-collar middle-class workforce.
Wait, though, there’s more. In a desperate revenue search, the Senate Finance Committee is looking at a stock buyback tax, a corporate alternative minimum tax, and a tax on so-called high salaries.
Not to mention a tax on CEO pay disparity, a tax on unrealized capital gains, a tax on carried interest, an end to the 20% small business deduction, a tax on estate planning, limits to active business losses, a tax on so-called mega retirement accounts, new bank reporting requirements for all depositary inflows and outflows, a plastics excise tax, a carbon tax, a fossil fuel tax, and what amounts to an international tariff on carbon emissions.
Now, the sum total of all this — call it the sum of all our fears — is to inflict major damage on the economy and the middle-class workforce, and investors. There will be consumer price hikes. Leading economic models have already scored this. Now the Democrats are adding to the tax damage.
That doesn’t include additional measures that will be hidden in a 10,000 page bill — features like illegal immigration amnesty, unionization via the so-called Pro Act, which stands for Protecting the Right To Organize Act. Lord knows what else (if even the Good Lord can find time to read a 10,000 page bill). And we haven’t even gotten to the Green New Deal...
https://www.nysun.com/national/the-sum-of-all-fears/91647/
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ukcatfannfl
Posts: 8771 | From: Inverness, FL | Registered: Jun 2001
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Tiptree
Administrator
Member # 844
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posted 09-10-2021 12:40 PM
I cannot imagine this is anything other than malicious intent to cripple our nation. NOBODY can be that ignorant of how taxes and regulations strangle free enterprise!
If they ARE that ignorant, we truly have the "government we deserve". I hope not. But, honestly, if the are NOT so ignorant, than what they are doing is tantamount to treason. They are willfully acting to knowingly damage our nation.
There is no middle ground.
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Tiptree
“If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be.” Thomas Jefferson
Posts: 13628 | From: Terre Haute, IN | Registered: Sep 2000
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