Worse than he was before…

              Karl Rove in the WSJ: Joe Biden Is the Six Trillion Dollar Man.
All this largess requires confiscatory tax increases that would punish savings by raising capital-gains tax rates, devastate small businesses that pass profits through to their owners by taxing income more heavily, and make U.S. businesses less competitive abroad by raising corporate rates well above those of foreign competitors.”

This entry was posted in American politics, Budget, Economics on the left. Bookmark the permalink.

22 Responses to Worse than he was before…

  1. H B Bear says:

    To the presses!

  2. Mango Man says:

    Rove and the GOP were mute as Trump clocked record deficits and total debt. They can’t expect any credit for calling it now that the big spenders are in town.

  3. Richard says:

    Buy Gold & silver.

  4. Up The Workers! says:

    $6 trillion?

    “The Big Guy’s” 10% slice of that action is starting to looking pretty damn good.

    Is Paedo Junior, the Crack-Head, still doing all the family bookwork?

    If this keeps up, the U.S. taxpayers might eventually be paying “The Big Guy” even more loot than the Chi-Coms, the Russians, the Ukrainians, the Iranians, the Khazakstanis and the Venezuelans are currently paying him.

    Old Nancy Gin-Bottle might even be in line for a second ice-cream fridge.

  5. Slim Cognito says:

    The wealthy in the USA are sizing up the exits. Given that the US is one of only a few countries that tax their citizens earnings anywhere in the world, renunciation of citizenship gets them out of that issue.

    “Trend Of US Citizenship Renunciation To Rise “Dramatically”
    https://www.wealthbriefing.com/html/article.php?id=190932#.YIoEIi2r3Sc

    There is no benefit in a tax if there is no one left to pay it.

  6. John A says:

    Given that the US is one of only a few countries that tax their citizen’s earnings anywhere in the world

    And Australia is another one…

  7. Mark M says:

    XiBiden: “When I think of global warming, I think of jobs.”

    >>When I thunk about failed doomsday global warming, I think of less droughts, floods, wildfires, freezing cold in Texas in Spring whilst cooling the planet.

    Remember, there are no jobs on a dead planet.

    What a sad sight that demented old man is.

  8. Kneel says:

    “…punish savings by raising capital-gains tax rates…”

    Including every working American’s 401k (super fund) earnings.
    If it gets through, expect the stock market to dive (probably *before* it applies as everyone tries to dodge the new rate) and real estate plus bitcoin go up.
    And even more exodus from CA and NY – in both those places, if this rate increase goes through, tax on capital gains will exceed 50% – no joke.
    And if, as suggested, they want to tax *unrealised* capital gains, it’ll be 10 times worse.

  9. Lee says:

    Where are all those leftists who were savaging Trump for increasing debt, now?
    Crickets.
    Biden makes Trump look like a penny-pinching Scrooge.

  10. Shaun says:

    Rove and the GOP were mute as Trump clocked record deficits and total debt.

    Yeah, I’d like to see a breakdown of that one big guy. Methinks you’re making shit up.

    Oh, and not the “mute” part, the “record deficits” part. Noting that obama created the record debt, if Trump had only added $1.00 to the debt, technically, it would be a new record, right? So your argument is disingenuous at best and a lie at worst.

  11. Richard says:

    John A says:
    April 29, 2021 at 11:29 am
    Given that the US is one of only a few countries that tax their citizen’s earnings anywhere in the world
    And Australia is another one…

    This is not true. Australians do not get taxed when working overseas under the domicile test and the 183-day rule.

  12. caveman says:

    Buy as much parmesan as you can, I know when ever I’ve cracked a big deal , I celebrate big time.

  13. Mango Man says:

    Shaun, the budget office:
    “CBO projects a federal budget deficit of $2.3 trillion in 2021, nearly $900 billion less than the shortfall recorded in 2020. At 10.3 percent of gross domestic product (GDP), the deficit in 2021 would be the second largest since 1945, exceeded only by the 14.9 percent shortfall recorded last year.”
    You could have looked that up yourself easily enough rather than accusing me of lying.
    https://www.cbo.gov/publication/56970#:~:text=February%201%2C%202021.-,Deficits,percent%20shortfall%20recorded%20last%20year.

  14. egg_ says:

    And here I was thinking that Globalist Scummo is the One Trillion Dollar man, printing rubber cheques.

  15. Primer says:

    As you say, “unrealised capital gains” taxation is the ultimate wet dream of every ‘tax is the solution’ statist.
    Uncle Joe is also upping US Death duty rates and application.
    The Australian UniParty will be taking note.

  16. Professor Fred Lenin says:

    Paedo biden cant increase taxes on his billionaire owners ,like the magic half negro period the billionaires will increase their wealth ,Gates increased his by 80 per cent under that corrupt regime .
    When a country owews $228 trillion another $2.3 trillion is bugger all
    $228,000,000,000,000.! Lotta money Eh?

  17. mh says:

    Fox News

    “Uncle Tim” trended on Twitter Wednesday night as left-wing users flooded the site with the racial slur on Sen. Tim Scott, R-S.C, following his rebuttal to President Biden’s address to Congress.

    Scott, who is Black, declared the United States is not a racist country while noting he had encountered racism in his life. Some of it, he said, came from the left in the form of being called an “Uncle Tom,” a derogatory phrase for Blacks who are viewed as too deferential to Whites

  18. Squirrel says:

    Those numbers are frighteningly large, but I’m rather more concerned about our own dear little government setting off in pursuit of a mad inflation target – to ease the pain of the debt which is being run up at a crazy pace in pursuit of the mad inflation target…..

    What’s happening here is quite obviously about setting the scene for what will be a very challenging election campaign, but does anyone seriously believe that a re-elected coalition (even with a decent majority) will start on the fundamental budget repair which is needed?

  19. Old Lefty says:

    Exactly, Squirrel. I have seen commentary by some economists – and by no means all hard-line conservatives or libertarians – who worry that Biden’s stimulus package is grossly over the top and could take the world back to the stagflation of the 1970s. Remember how much pain and suffering it took to get on top of that.

  20. BorisG says:

    Let’s not forget who is to blame for all this. Had republicans focused on winning two Georgia senate seats rather than on pursuing Trump’s conspiracy theories, they could block most of these proposals.

    Now their only hope is Joe Manchin. And mid-term election, but it may be way too late.

    Sad.

  21. Rex Anger says:

    Keep anklebiting, BolshevikG…

  22. Aynsley Kellow says:

    Mango Man: your figures actually show that the deficit is reducing – as one would expect.

    One key of Trump’s tax policy was to reduce the corporate rate to 21% – close enough too Canada’s 15% to make another Tim Horton’s-Burger King merger and relocation to Canada having little attraction. Billions in profits held by

Comments are closed.