Treasury Says Whites Earn Too Much So Taxes Are Coming
OBIDEN DID THAT !
By M DOWLING -April 26, 2024
This is what Marxism will get you—high taxes and a bloated government. The Biden Regime is considering a capital gains tax between 39% and 49.6%, but don’t worry—it’s incremental. It will take a while before they ensnare everyone. This is another grift.
This is the important part:
“…some elements of the tax code exacerbate differences in income and wealth, accumulation by different racial groups, leading to greater income inequality. For example, the treasury estimates that 92% of the benefits of the tax expenditure for preferential rates on capital gains and qualified dividends accrued to white families, only 2% of the tax expenditure accrued to black families, and 3% to Hispanic families. A similar share of the benefits of the tax expenditure for the deduction for income pass through businesses accrues to each group.”
So, if you’re white, and you know how to make money, you must be brought down to the same level as people who aren’t investing and taking a risk as you had. If you’re white, you cannot be making more money, and you cannot be more productive.
The Treasury is making this into the wealthy must “pay their fair share.” While they spend trillions overseas, they claim they will use the money to give tax credits [welfare] to working families.
They want an even more progressive tax than they have now. They’re going to allegedly reduce child poverty, make health insurance more affordable, and support the middle class by expanding refundable credits for low and moderate-income workers and families.
It never works that way, and we have no reason to believe it will ever work. Socialism is actually killing the middle class.
This is exactly the ideology seeping into public education. They want to bring down the education of the advanced students, the more successful students, because whites and Asians are more successful than other groups. Instead of giving extra help to black and Hispanic students, they are going to make the majority less successful. This is the ideology of greed, envy, and victimhood.
