Posted on 10/04/2020 1:30:43 PM PDT by John Semmens
In the summer of 2017, the Trump Administration proposed and the Congress enacted the Tax Cuts and Jobs Act. This legislation cut tax rates in every bracket and ensured higher take-home pay for the working and middle classes. The average family of four saved $2,000 in taxes and 91% in the middle income quintile received a tax cut. The US economy boomed.
During this week's debate Democratic presidential candidate Joe Biden told viewers that "I'm going to eliminate the Trump tax cuts. The Republican notion that people have a right to keep more of their hard-earned money is mistaken and selfish. Individuals do not have the necessary knowledge or incentives to determine the best use of our nation's scarce resources. Only the government knows which needs are more urgent than others. My administration will reverse Trump and the Republicans' mistake and replace anarchic selfishness with collective solidarity. As I've always said, there isn't anything we can't accomplish as long as we do it together. Making sure we all move together in the same direction at the same time will magnify the power of government to achieve great things."
In related news, a CNN analysis found that almost all of the big banks and brokerage firms of Wall Street are backing Biden over Trump. Their donations to elect Biden have topped $51 million, while their donations to elect Trump are less than $11 million.
if you missed any of this week's semi-news/semi-satire posts you can find them at...
http://www.gopbriefingroom.com/index.php?topic=416128.0
Biden Vows to Hike Taxes on Middle Class [semi-satire].
Semi-satire, my ass. Biden came right out and pledged to put the governments hand in everyone’s pocket...right up to the elbow! What he didn’t tell is how he intended to piss away the added revenue. FOOL!
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