Democrats’ idea of “helping” the economy always involves spending lots of money. But where do they get all this money?
The left tries to bamboozle Americans by saying they’ll only tax the “super-rich.” I guess they assume most Americans hate the rich—who start businesses and create jobs.
But even that claim is mostly hot air. Biden’s original tax plan quickly got worse.
Now, we are seeing what Pelosi really wants to do. She actually wants to give rich people a tax cut.
Only, though, if they vote Democrat.
From Fox Business:
House Speaker Nancy Pelosi signaled support this week for including a repeal of the $10,000 cap on state and local deductions in President Biden’s sweeping spending proposal.
“Hopefully we can get it into the bill,” Pelosi said during a Thursday news conference. “I never give up hope for something like that.”
Oh? Pelosi “never gives up hope,” not for doing something to help working Americans. But to push a tax break for rich Democrats living in states like California.
When Trump passed his historic 2017 tax cuts bill, he got rid of a program wealthy Americans used to get out of paying federal tax. That meant those living in high-tax, blue states had to pay their normal federal taxes (like the rest of us) and the exorbitantly high state taxes.
The only recourse, for some, would be to move to a state that wasn’t robbing them blind. But plenty of rich Democrats will never leave California or New York for a conservative state.
So, Pelosi’s goal is to restore the SALT deductions, so rich Democrats can pay less in taxes than everyone else.
Pretty odd, when you think about it. Biden claimed he was going to raise taxes on families earning more than $400,000 and corporations.
But if the SALT tax deduction is brought back, the rich will automatically be paying less.
So, who is conning us—Pelosi or Biden?
In order for Democrats to push their socialist agenda, somebody has to pay for it. But if the super-rich are getting tax breaks, then that burden falls on the rest of us.
Not a great way to “stimulate” the economy after all, huh?
- Pelosi admitted she wants to restore a tax deduction that helps rich Democrats.
- The SALT deduction was capped during Trump’s administration.
- Rich Americans in blue states benefit the most from Pelosi’s agenda.
Source: Fox Business