Your Vote Will Determine Your Taxes

On Monday, PJ Media posted an article detailing changes they want to make in America’s tax code if President Biden is re-elected.

The article reports:

“The main goal here is this can’t just be a debate about the 2017 tax cuts,” Sen. Mark Warner (D-Va.) said, completely unshy about the threat. He told Bloomberg last week, “This is going to be Tax Armageddon.”

Prepare for the end of the world.

Federal income tax revenues jumped nearly $100 billion in the first year after Trump’s signature tax cuts went into effect and almost another $40 billion in 2019. The stupid and unnecessary COVID-19 lockdowns derailed that growth in 2020. Since then, revenues have continued to surge. Much of that “growth” was an illusion created by inflation, however, and the rest was due to increased taxes on energy and corporations which, of course, got passed on to consumers. 

Reminder: Corporations don’t pay taxes; they collect them.

But Democrats are just getting started. The tax man never merely cometh for “the rich.”

Washington has a spending problem, and Democrats aren’t shy about how to solve it: tax us poor bastards back to the Stone Age.

There are two issues at play here. 

The first is that Democrats have a desperate need to wipe out the Trump tax cuts because Orange Man Bad, although they hide it under the usual guise of “taxing the rich.” 

…The second issue is the Democrats’ longstanding desire to impose an unconstitutional wealth tax.

Sen. Ron Wyden (D-Wa.) chairs the Finance Committee and last Thursday “revived his pitch to tax the appreciation of assets for those with at least $100 million in income,” the Wall Street Journal reported. “Wyden plans to run through the door on wealth taxes that the Supreme Court left open Thursday in its lamentable decision in Moore v. U.S.”

Please note that in the third paragraph I quoted, the article reported that tax revenues jumped after President Trump cut taxes, so why do the Democrats want to raise taxes? Because in Washington, the more money you control, the more powerful you are. Who cares about the American taxpayer or reducing the deficit when you can have power?

If the Democrats take Congress or the Presidency, we can expect at least a serous attempt at increased taxes. Remember the Laffer Curve.