October 22, 2020, 07:14 AM
chellim1Joe Biden on the campaign trail: "If you like your health care plan, ..." // Biden demands immediate Israel ceasefire
Joe Biden is a liar and a fraud.
He has abused his office for nearly 50 years. All of the evidence on that laptop points to the abuse of power.
But we also have to focus on how destructive he would be to America, if elected President.
His tax policy, to pay for the "green new deal" and other lib ideas would be a nightmare for the American economy.
Home Depot Co-Founder: “Fraud” to Suggest Middle-Class Won’t Have Taxes Raised Under Biden
“It’s absolutely a fraud to suggest that the money that’s going to be needed is going to come from the rich or the super-rich.”
https://planetfreewill.news/ho...-raised-under-biden/Home Depot co-founder Ken Langone ripped into the Biden tax plan on Wednesday when he said that it was a “fraud” to suggest that middle-class Americans won’t have their taxes raised if Joe Biden is elected President.
“First of all there’s a reality, you aren’t going to get the revenue numbers by just taxing the rich,” Langone told Fox Business.
“The only way a tax increase will generate revenues is to go after the middle class. That’s where the numbers are. These people are being misled,” he explained. “It’s absolutely a fraud to suggest that the money that’s going to be needed is going to come from the rich or the super-rich.”
Langone would add that the problem with going after the middle class with tax hikes is “you go after the backbone of the economy” and “we will have a bad recession” as a result.
The Home Depot co-founder believes that the Biden team is well aware that the idea of generating enough revenue through taxing the rich will not work and that lower and middle-class Americans will find this out “when its too late.”
Biden’s $4 trillion tax, to be implemented over the next ten years, was described as “the highest in American history - indeed, in world history” by Lew Uhler, chairman of the National Tax Limitation Committee, and Peter Ferrara a senior policy adviser to NTLF in their analysis published in The Hill.
The analysis showed that Biden’s plan would raise taxes on middle-class families by over $2,000 a year, with a $1,300 annual tax increase on a median-income, single parent with one child.
It also showed that the plan would double the current capital gains tax, pushing it towards 40% while increasing the death tax.
Separately, an analysis done by the D.C.-based Tax Foundation concluded that the Biden plan would reduce GDP by 1.47 percent over the long term.
[ZH: In fact, as The WSJ Editorial Board wrote last week, the issue is whether Mr. Biden’s policies will nurture this strong recovery, or slow it down as Barack Obama’s policies did after the 2009 recession.
This is where the Hoover study comes in, as it examines the Democrat’s proposals on health insurance, taxes, energy and regulation.
Overall, the authors estimate that the Biden agenda, if fully implemented, would reduce full-time equivalent employment per person by about 3%, the capital stock per person by some 15%, and real GDP per capita by more than 8%.
Compared to Congressional Budget Office estimates for these variables in 2030, this means there would be 4.9 million fewer working Americans, $2.6 trillion less in GDP, and $6,500 less in median household income.
The authors reach three key conclusions:
First, transportation and electricity will require a lot more inputs (including 1.3 million net additional energy workers) to produce the same outputs because of Biden’s ambitious plans to further cut the nation’s carbon emissions. Because these industries are a nontrivial share of the overall economy, that means 1 or 2 percent less total factor productivity overall. These effects would be significantly larger —likely dwarfing the (nontrivial) rest of the agenda—if the energy goals are taken literally. The costs would also be concentrated geographically.
Second, labor wedges (the amount of the value created by additional work that goes to third parties) are increased by proposed changes to regulation as well as to the Affordable Care Act (ACA). The quantitative findings for the ACA should be no surprise given the findings from previous efforts in the United States and other countries to expand health insurance coverage.
Third, Biden’s agenda reduces capital intensity by increasing average marginal tax rates on capital.
There is much more in the Hoover study, especially on the costs of returning to Obama-style regulation. Most of the media will ignore it, which is why we thought we’d provide readers with the full study.
President Trump on Wednesday said that Biden “will destroy our economy” with his plan to raise taxes.
Donald J. Trump @realDonaldTrump
Remember, BIDEN is going to raise your taxes at a level never seen before. This will not only be very costly for you, it will destroy our economy, which is coming back very rapidly.
We suspect he is right.
https://www.zerohedge.com/poli...er-taxes-under-bidenOctober 22, 2020, 07:53 AM
Krazeehorsequote:
Originally posted by RichardC:
We can guess, but I'll have two or three Sam Elliott "Biden didn't Kill Himself" memes ready to post.
It will be easier than that. Remember Radar talking to Col Blake? Here, sign this sir.
I guess they have to get Joe before inauguration if she's going to be the NEXT president. Hmmm, maybe they are going to need Hilary's services.
October 22, 2020, 08:15 AM
chellim1quote:
Originally posted by RichardC:
We can guess, but I'll have two or three Sam Elliott "Biden didn't Kill Himself" memes ready to post.
Biden is just a prop for the election. Everyone knows that he won't be President for long. Nancy Pelosi even telegraphed such with her scheme regarding the 25th Amendment. Democrats don't care that they are electing a place-holder. That's why the 'Sleepy Joe' dementia stories aren't enough. We have to focus more on what the Democrats will do if elected.
October 22, 2020, 08:21 AM
Shaql2010: You have to pass the bill to find out what is in it.
2020: You have to vote for President before you know who it is.
October 22, 2020, 08:23 AM
RAMIUSI can't believe Biden will actually show up tonight at the "debate".
October 22, 2020, 08:27 AM
Skins2881Well the debate just got a lot more interesting to watch.
October 22, 2020, 08:35 AM
joel9507quote:
Originally posted by Skins2881:
Well the debate just got a lot more interesting to watch.
Particularly as it's doubtful that any of the media will ask Joe any tough questions about this, or anything else, from here out. This will probably be the last shot to see him put on the spot before the elections.
October 22, 2020, 08:58 AM
MikeGLIquote:
Originally posted by joel9507:
quote:
Originally posted by Skins2881:
Well the debate just got a lot more interesting to watch.
Particularly as it's doubtful that any of the media will ask Joe any tough questions about this, or anything else, from here out. This will probably be the last shot to see him put on the spot before the elections.
They won't ask shit about Hunter.
Our President, however, won't let that shit slide.
October 22, 2020, 09:03 AM
satchThe MSM has already asked him what his favorite color,food,TV show,cookies,etc., why shouldn’t they ask him a tough question? But don’t expect any tough questions from Walker for Biden.
October 22, 2020, 09:48 AM
RAMIUS"It was Barzini all along."
October 22, 2020, 10:41 AM
sigmonkeyquote:
Originally posted by Shaql:
If Bobulinski is such a patriot, why'd he wait until he was asked for all the documentation? Why didn't he become an informant in 2015.
He struck a deal!
The enemy of my enemy...
Baba Looey has no chance to fuck up my country, Biden has done more than enough damage for 47 years. So, I would not give a shit what his motivation is, as long as he can deliver the goods.
October 22, 2020, 10:44 AM
Shaqlquote:
Harris, prominent Democrats listed as 'key contacts' for Biden family business venture projects
That's a pretty innocuous email. It's a list of potential work and a contact who is the potential influencer or decision maker.
Dare I say I create similar lists for my clients as part of any business development plan.
October 22, 2020, 10:59 AM
mbinkyIt seems fairly well known that Barr hates special prosecutors, but if anything warranted one this Biden scandal does. No way the DOJ/FBI can be trusted to investigate.
October 22, 2020, 11:17 AM
lastmanstandingquote:
Originally posted by mbinky:
It seems fairly well known that Barr hates special prosecutors, but if anything warranted one this Biden scandal does. No way the DOJ/FBI can be trusted to investigate.
I've become very disenchanted with Bill Barr.
This sums him up in my view.