Joe’s Brilliant Plan To Be No. 1 In Taxes, Bankroll China

WSJ notes “Biden Wants to Be No. in Taxes” by upping rates for businesses & billionaires in the name of fairness BUT it’s time the canard was put to rest as it’s been the Middle Class that has paid the piper every single time such schemes have been introduced by political dimwits.

Take the minimum tax. Please. Created in the Tax Reform Act of 1969 to nab “155 high-income households not paying a dime in federal income taxes” it now entraps around 6 million each year. Rather than “fairness” being at the heart of Mr. Biden’s call for $2.5 trillion dollars in new taxes, the newspaper’s editorial board suggests he’s really trying to use “fairness” to sell (and pay for) his progressive wish list as embodied in a reconstituted version of “Build Back Better.”

The latest lie is too obvious, the WSJ argues, as Mr. Biden continues to claim “nobody making less than $400K a year will pay a penny more in federal taxes.” Says the editors: “Not true. Corporate taxes are paid by workers, shareholders and consumers of all incomes…[moreover] the nonpartisan Tax Foundation notes the [massive Biden] tax increases would reduce the size of the economy over time”, thereby further fueling today’s zooming inflation and more than wiping out any wage gains any worker would be getting. Concluded the editors, Joe’s business communist friends in China will be delighted if his latest brilliant “plan” is enacted by Congress.

Davd Soul