Taxes are supposed to help the government function. Our Constitution has what is referred to as the General Welfare clause, and if anyone knew the reasoning behind this mention in the Preamble, they would understand that taxation in our federal system is out of control and is not functioning the way our Founding Fathers intended.
At one point during the Constitutional Convention, the old statesman, Benjamin Franklin, proposed a tax for the general government (federal) for “a power to provide for cutting canals where deemed necessary.” The reasoning for this was sound enough. Canals in those days were used to move merchandise off of ships that sailed to port and to distribute them throughout each city, town, or otherwise.
Luckily for us, Roger Sherman objected, saying, “The expence [sic] in such cases will fall on the U. States, and the benefit accrue to the places where the canals may be cut.”
In other words, Sherman argued that the entire people of the United States would have to pay a tax that only the people who benefitted from it would be those who used the canals. This sparked a firestorm of debates in the Convention and later among the delegates of the States during the ratification. The end result was to adopt the idea that any bill that comes to be Constitutionally voted upon that needed funding, the prerequisite would be that in order to create the tax to fund the program, everyone who has to pay the tax must also reap a benefit from the program they are paying taxes to fund. Do you feel you’re getting your money’s worth today? Do you think the DC swamp is adhering to the General Welfare principles? Heck, most progressive politicians today believe the General Welfare clause give them license to tax the hell out of us to provide welfare benefits to those in need.
Wall Street has been jumping for joy over the election results, believing that the since the dreaded blue wave fizzled into a blue puddle, it meant that Democrats would not propose huge tax increases that the Biden campaign promised to bring them, with everything going back to the miserable days before Donald Trump. While the GOP has so far retained control of the US Senate, the two runoff races in Georgia aside, most believe the GOP will retain control.
While control of the Senate will not be decided until the January 5 runoff elections in Georgia, most onlookers believe that it’s not likely that the two Democratic challengers will win and tip control of the Senate to the Democrats. Well, maybe those folks have too much faith believing that Democrats haver a morality that will preclude them from cheating the way they did so massively in the general election. We’ll see.
If the Republicans continue to control the Senate, the chances of tax increases by, God forbid, a Biden administration, would be very unlikely.
The problem we now face are even if the Republican maintain control of the Senate with just 2 votes to give them the majority, this would make some RINOs very important to the cause of freedom and liberty. I’m talking about Mitt Romney and Susan Collins. If just those two turncoats vote with Democrats to increase taxes on the proverbial rich, and we all know that really means everyone, then it goes to a 50-50 tie and ties under a Biden administration would go to a Vice President Kamala Harris whose senate voting record makes her the most radical progressive ever to hold a seat in that chamber, more so than even Bernie Sanders.
A Biden administration could be anticipated to move rapidly to suggest a major fiscal stimulus package deal and to use budget reconciliation to expedite its passage through the House and Senate. Budget reconciliation is a budget process method that would enable the Biden plan to avoid a Republican filibuster, limit debate in the Senate to a mere twenty hours, and pass the Senate with only 51 votes.
Biden is a slime ball, and though he doesn’t have the cognitive ability to do much of anything complicated these days, as if he ever did, the people who would really be running things will be clever enough to reshape an ugly tax hike package to be acceptable enough for at least two Republican senators. Think about it. A stimulus package could ask for trillion of dollars to spend on coronavirus relief for small businesses and people who are unemployed. They would bail out failing cities and states run into the ground by progressive policies and you, the taxpayer, would be on the hook to pay for it all. Rather than take the Trump approach which is the strengthen the private sector by getting the government off the people’s backs and allowing ordinary people to do extraordinary things, a Biden administration would create policies to make as many Americans dependent on the federal government as possible.
They would add things like child tax credits and child and dependent care tax credits, and other various tax credits that may seem like a windfall for some people, but the strings attached to that spending would be enormous.
A Biden administration would crush the achievements of President Trump and America would quickly no longer be great. A Biden tax plan could be pushed through with the age-old class warfare attack of only raising taxes on corporations and the rich, thus sending the message that you don’t want to start a business and/or get rich, because you’re evil and you shall be punished. It’s maddening. They could also raise the top rates for the corporate tax and go back to the days of Bill Clinton for individual taxes to say 39%. Do you want to pay 39% of your hard-earned money to a Biden administration?
Wait until they start to mention a wealth tax where they will tax money you earned that has already been taxed and is sitting in an account somewhere accruing interest. That’s outright theft, but a Romney and Collins could bring that to you. It wouldn’t hurt them, because like the days of old Democrat politics, they would probably be exempt from the same laws that would harm everyone else. That’s how the game used to be played before Trump came along and reset the playing field to be more fair.
Speaking of unfairness, a Biden administration would go back to allowing progressive states like California, Illinois and New York, with very high tax rates to pay for all the progressive government handout programs, to let their rich progressive friends write off their high state taxes on their federal returns, thus forcing the middle and lower classes in other states to subsidize them by paying their share of taxes for them, something the Trump administration did away with. So much for the rich paying their fair share.
It could also include provisions Biden called for during the campaign, such as a new corporate minimum tax and the repeal of tax provisions used by real estate investors.
In short, the kinds of tax structure changes the Biden campaign talked about would again make it impossible for many corporations to function inside the United States and would have them leave the country and go to places like China, who have Joe Biden in their back pocket. We are just coming out of the forced lockdowns and tax increases now would slow investment, killing job creation and we would experience another economic malaise like what we went through with 8 years of Obama-Biden.
Think about it. If Republicans can hold onto the Senate majority, and curb the traitors to freedom and liberty within it, the economic catastrophe that awaits us could be avoided. Donate whatever you can to the David Perdue and Kelly Loeffler campaigns to help them beat the cheat that we know the Democrats are right now preparing. Donate like your future depends on it, because it really does.