That’s not a tax increase.  This is a tax increase!

Picture the scene.

On the sidelines of the Conference of CLOWN (Centre Lefts of World Nations), normally held in the off season at Davos, but this year by video conference.

Australian politician and former shadow Treasurer Chris Bowen gets up and describes the tax increase policies he took to the 2019 federal election.

Then, flanked by Bernie Sanders and Alexandria Ocasio-Cortez, comes sauntering on his walking frame, Joe Biden.  Biden, from under his CovMask, interrupts Bowen and mumbles:

That’s not a tax increase.  This is a tax increase!

Biden then proceeds to describe the tax increases he proposes to take to the coming US Presidential election.  Putting aside the self evident fact that Congress writes the US tax law and not the President, Biden presents his tax plan which:

would raise tax revenue by $3.8 trillion over the next decade.

Only $400 billion a year.  Only.  A tax plan which, which according to the Tax Foundation’s General Equilibrium Model:

would reduce GDP by 1.51 percent over the long term.

Only 1.51 percent.  Only.  and destroy 585,000 jobs.  Only.

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10 Responses to That’s not a tax increase.  This is a tax increase!

  1. John Bayley

    Yeah, but you forget that the government could then use that money to build several parallel versions of the ANBN (American NBN) and also introduce Universal Basic Income of $10,000 per month.
    And go 100% renewable.
    With all that money being spent, spent and spent again into the economy, prosperity would be sure to follow.
    You know it makes sense.

    (I’d better clarify I’m being sarcastic, before Morrison and/or Albanese adopt those policies for the next election!)

  2. a happy little debunker

    It is not a ‘tax increase’ – it is tax reform™…

  3. Howard Hill

    How about we do some tax reforming of our own and refuse to work????

    Really, how hard can it be? Seeing as most of us have been told to stay home anyway. Just stay home till they reform their pillaging err.. I mean tax collecting amounts. ZERO would be a good start!

  4. hzhousewife

    Just need to learn how to live on $18200.00 a year.

  5. Cynic of Ayr

    Howard Hill has a sensible suggestion. After all, hundreds of thousands of Australians do just that.
    they refuse to work, and either happily or unhappily, subsist on the dole. It can’t be all that hard!
    No home of their own. Well, that’s a pit there’s no need to shovel money into.
    No car. Ditto.
    No furniture. Ditto.
    No restaurant food. Ditto. Takeaway is good enough for a night out.
    It can be done. As I said, thousands of people do it. We can add in the medically unfit, and there are thousands of them too. Most, I might add, would much rather be different, and in good health instead. I don’t know too many people who are delighted to have a heart condition, brain damage, missing limbs, etc.
    Of course, all these people make a contribution via GST, and rates on the house they rent, and tax on the booze they drink. It’s a bit of a pity that that tax money came wholly from tax money, less the considerable administration costs.
    We can add in the Army of Public Servants “employed” to dole out the dole and benefits, who pay personal income tax, which – wait for it – came from tax.
    But, there are those who want to work, because it brings in all that extra cash, over and above the dole. Well, sometimes it does.
    These poor souls, pay for the whole friggin lot!
    Cynic gets really, really annoyed with stupid people. Not so much stupid people like himself, who are just a bit dim, but stupid people who supposedly have high intelligence, and a ooniversity educashin, and claim not to be stupid. These stupid people.
    Here we have a free lesson in economics. The Government is paying thousands of people not to work. They are also paying thousands of Public Servants to work, but not do anything.
    Anddddd… what has happened? Taxation is down! How can this be?
    So, we have these intelligent people, with the ooniversity educashin, baffled that people not working doesn’t, you know, sorta work?
    And the solution is to raise the taxes of those willing to work!
    So, when the actual workers are taxed down to the level of the dole, what then?

  6. John Bayley

    They are also paying thousands of Public Servants to work, but not do anything.

    Well that’s not quite right; let’s be fair here.
    Many of them DO do something: Namely, they produce new regulations on top of the existing ones, for the rest of us to comply with.
    For our own good, you understand.

  7. Tony K

    Don’t forget that Biden will sign onto the Paris Climate Accord, so there’ll be an additional Carbon Tax as well. I guess he doesn’t want to present all his bad news at once.

  8. Don’t forget Electricity Bill is taking us to ZERO emissions in 2050.

    So no tax raised for our three largest export earners; Coal, Iron Ore and Agriculture (no refrigerated containers). No international airline industry; tourists.

    Virtually anything you can’t grow in your backyard will be bought from the coal and nuclear powered Chinese Communist Party.

  9. mundi

    *yawn*

    “On a conventional basis, the Biden tax plan would lead to 7.8 percent less after-tax income for the top 1 percent of taxpayers, 1.1 percent lower after-tax income for the top 5 percent, and around 0.6 percent less after-tax income for other income quintiles.”

    He will get away with it because it’s small, the actual impacts won’t be linked back to him except by a small number of Austrian economists.

  10. Cynic of Ayr

    John Bayley
    I stand corrected.

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