Reblogged on kommonsentsjane/blogkommonsents.
For starters, it is worth remembering that higher tax rates on the rich don’t necessarily lead to higher tax revenues. Even controlling for income inequality the U.S. has the most progressive income/payroll tax code in the Organization for Economic Cooperation and Development.
The real problem for the Democrats is they have a disease OF THE BRAIN called “SOCIALISM/RADICALISM.” This is a disease which has been circulating in foreign countries throughout history and the fact that it has been tried over and over and continues to fail. Yet, due to the Democrats lack of brain functioning properly – they continue to put it into play hoping that a mistake will occur and it works.
kommonsentsjane
During the campaign, Joe Biden proposed a massive tax increase, far beyond what either Barack Obama or Hillary Clinton put forth when they ran for the White House.
Some people speculate that Biden isn’t actually that radical, and that his class-warfare agenda was simply a tactic to fend off Bernie Sanders, so it will be interesting to see how much of his political platform winds up as actual legislative proposals in 2021.
That being said, we can safely assume three things.
- Biden will propose higher taxes.
- Those tax increases will target upper-income taxpayers such as entrepreneurs, investors, and business owners.
- Those tax increases will be a very bad idea.
The main argument that Biden and his supporters will use to justify such a plan is that “rich” taxpayers are not paying their fair share.
More specifically, we’ll be told that upper-income households are not pulling their weight thanks to…
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