Posted on 04/30/2024 8:32:44 AM PDT by Lazamataz
The Biden administration’s analysis of its revenue proposals for fiscal year 2025 argues targeted tax hikes that disproportionately affect white people would ease racial wealth inequality.
Increasing taxes on capital gains and income-based wealth would reduce racial wealth inequality for black and Hispanic families, the Treasury Department outlined in the analysis published in mid-March. The Treasury points out that white families disproportionately hold assets subject to capital gains tax or are in a higher tax bracket, meaning a hike in those taxes would benefit black and Hispanic families. (RELATED: US Economic Growth Slows Down Massively, Well Below Expectations)
The Biden administration argues for taxing capital income for high-income earners at “ordinary rates,” increasing the top rate from 37% to 39.6% for those who earn more than $1 million a year. Taxes on net investment income would also be hiked by 1.2 percentage points to 5% for those who make over $400,000 per year, bringing the total top marginal rate to 44.6%.
(Excerpt) Read more at dailycaller.com ...
They most definitely do not want equal outcomes.
They want an impoverished peasantry completely dependent on the favor of the rulers and their selected minions for survival.
The "activists" all believe they will be members of the "selected minions" classes. They are gravely mistaken. Almost all of them will end up as members of the peasantry.
I thought that ALL tax policy must originate in the HoR...
Joe Biden is trying to justify a $7 trillion budget. Now keep in mind that $5 trillion of the budget is only in three areas healthcare spending defense spending an interest on the debt. Of the three healthcare spending is 2.5 trillion and we only take in about 450 billion in Medicare Taxes the rest is borrowed money.
Then I read today that Biden wants to guarantee Ukraine $1 trillion for one thing and another 500 be in for something else and watch the legislation written where succeeding presidents cannot do anything about it we can’t afford it. No amount of tax increases on 81 is going to make up that deficit, and here we just Crouzon to 40 trillion in debt in the blink of an eye.
*** They want an impoverished peasantry completely dependent on the favor of the rulers and their selected minions for survival.***
That’s exactly what I mean by equal outcomes, for every one but themselves. They want all us to be in the dregs, and they’re part of the cream rising above the rest.
We are the peasants, and they are the “rules for thee, not for me” gang.
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