This is a pernicious and evil initiative that will crater the stock market.
Do politicians ever consider that lower spending also cuts the deficit? How much sense does it make to increase taxes on the wealthy? They create jobs and expand economic growth and enhance opportunity. The top 10% income earners pay 72% of total IRS collections while the bottom 51% pay no Federal taxes. I favor a flat tax of 17% on everyone. The Tax Code would be reduced to 1 sentence: Add up your income and send 17% to the IRS. You could file your return on a postcard.
"Biden set to unveil more than $2 trillion in tax hikes in budget"
FR: Never Accept the Premise of Your Opponent’s Argument
What's worse? Puppet Biden's more than $2 trillion in tax hikes, or "power of the purse," House majority so-called "MAGA Republicans" who don't seem to be speaking up about unconstitutional federal taxes, taxes that the very corrupt, post-17th Amendment ratification Congress cannot reasonably justify under its constitutional Article I, Section 8-limited powers?
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States." —Justice John Marshall, Gibbons v. Ogden, 1824.
“If the tax be not proposed for the common defence, or general welfare, but for other objects, wholly extraneous, (as for instance, for propagating Mahometanism among the Turks, or giving aids and subsidies to a foreign nation, to build palaces for its kings, or erect monuments to its heroes,) it would be wholly indefensible upon constitutional principles [emphases added].” — Justice Joseph Story, Commentaries on the Constitution 2 (1833).
”Simply this, that the care of the property, the liberty, and the life of the citizen, under the solemn sanction of an oath imposed by your Constitution, is in the States and not in the federal government [emphases added]. I have sought to effect no change in that respect in the Constitution of the country.” —John Bingham, Congressional. Globe. 1866, page 1292 (see top half of third column)
Pelosi: "We have to pass the bill so that you can find out what is in it." (non-FR; 6 sec.)
“Cherish, therefore, the spirit of our people, and keep alive their attention. If once they become inattentive to the public affairs, you and I, and Congress and Assemblies, judges and governors, shall all become wolves [emphasis added]. It seems to be the law of our general nature.” - Thomas Jefferson (Letter to Edward Carrington January 16, 1787)
Trump's primarying of state and federal RINOs in 2022 was hopefully just for practice. Trump needs to do another round of primaryiing RINOs in 2024 imo.
Patriots, the bottom line is this imo. What is your threshold of “pain” for peacefully stopping unconstitutionally big state and federal governments controlled by bully, constitutionally undefined political parties, from oppressing the people under their boots?
The inevitable remedy for ongoing, post-17A ratification, corrupt political party treason (imo)...
All MAGA patriots need to wake up their RINO federal and state lawmakers by making the following clear to them.
If they don’t publicly support either a resolution, or a Constitutional Convention, to effectively "secede" ALL the states from the unconstitutionally big federal government by amending the Constitution to repeal the 16th (direct taxes) and 17th (popular voting for federal senators) Amendments (16&17A), doing so before the primary elections in 2024, that YOU will primary them.
If the proposed amendment was limited strictly to repealing 16&17A, relatively little or ideally no discussion would be needed before ratification of the amendment imo.
With 16&17A out of the way, my hope is that Trump 47 becomes the FIRST president of a truly constitutionally limited power federal government.
In the meanwhile, I'm not holding my breath for significant MAGA legislation to appear in the first 100 days of new term for what may still prove to be another RINO-controlled House.
Again, Trump will hopefully do another round of primarying RINOs for 2024 elections.
Since wait-staff and anyone with more than $600 has been redefined as rich . . . guess what?
I saw a video of Robert T. Kiyosaki talking about taxing the Super rich, the billionaires, and getting them to pay their fair share.
“The super wealthy billionaires don’t have jobs, they have cash flow, and you can’t tax cash flow. So when ever I hear a politician talk about we’re going to tax the rich and get them to pay their fair share. I say good luck with that.”
Well, that should help the economy /s
But only for those making over $400k/year . . . . (do I really need the /s)
“by making the wealthy and big corporations begin to pay their fair share.”
In 10 years, a 200k income will be 400k given this inflation.
John Kerry want the us to spend 3 trillion a year on climate change, the gross taxes In The country are around d 3 tri,lion or so according to Newsmax show this morning.
Dim translation of wealthy: Middle class.
“by making the wealthy and big corporations begin to pay their fair share.”
Economically the left only knows one tune. They don’t know how to grow wealth only how to redistribute it. Let’s hope this monotonous message continues to wear thin.
I Watched a video by an economist who showed via graphed going back to WWII that basically the US Government has only taken in an average of 19% of the income year to year. Tax increases due not yield more revenue, people figure out how to Shelter their income from taxes. So Joe, not going to solve the problem, kind of like an Alcoholic demanding more booze, doesn’t end well.....
The US GDP is ~$20 trillion so this is literally
“10% for the Big Guy”
“Reduce the deficit by 2 trillion over a decade”
What they mean is the deficit, which will keep growing, will be two trillion dollars less than whatever it would be if all of the phony assumptions they make hold true over twn years and that no future congress would change spending or revenue in that time. Basically worthless.
He’s only taxing the rich, dontcha know./s
Totally AWESOME!!
More work for high-priced tax attorneys and tax accountants, and their financial planner cousins./s
There will be winners and there will be losers.
This is truly sickening, but then most of us cynics expected lots of bad stuff from the sniffer-moron-without-a-leash.
Kevin had better say NO, “we are starting with massive budget cuts!”
THE RICH NEED TO PAY THEIR FAIR SHARE!
All caps to emulate Biden screaming angrily ...