Wednesday, May 12, 2021
ECONOMY We Warned You, Biden and the Dems Are Bad For This Country...

We Warned You, Biden and the Dems Are Bad For This Country – & Things Are About to Get a Lot Worse

Like the post? Why not make it Facebook official. ⇊

Biden is trying to sell his major tax hike with an “infrastructure” plan that is both a bad deal and a huge lie

 

By Greg Holt


 

General Michael Flynn defense fund Fellow patriots, please listen to this short, inspiring message from General Flynn. General Michael Flynn exemplifies patriotism, courage, and love of God and country - despite some of his own countrymen relentlessly attacking him. Donations for his defense are greatly appreciated. If you can only give $5.00, please do so - every little bit helps. Thank you so much, and God bless. Letter from General Flynn. 


(TCP News)  Don’t say we didn’t warn you, because we did, repeatedly – only many people chose not to listen.

Biden as promised opened the border, and we are paying the price for this already, the border is a disaster.  The AP (Associated Press) informed their staff NOT to refer to the border situation as a “crisis.”  If there is no crisis, then why did the Biden administration do an about face and say that parts of the border wall now need to be finished?  This after Biden had previously halted all wall construction on DAY ONE in office.

You Might Like

Firebrand socialist Demoncrat Ilhan Omar recently called Biden out on his about face, seems she isn’t happy about any holes in the wall being plugged.

Biden in his infinite wisdom also killed the Keystone Pipeline project, also on day one in office.  This move instantly destroyed thousands of jobs, and coupled with the “no new drilling rule” has endangered America’s recently achieved energy independence.  Notice gas prices at the pump are rising?  Thank commander Biden for that.

Some will tell you that the price increase is a simple supply and demand issue, more gas being used means more demand and supplies are down, therefore the product price increases.  That is true; and then some will blame OPEC.  Here is the problem with that scenario – OPEC should have little impact on U.S. fuel prices.  But since Biden wants to take away all of the U.S. oil industry’s toys and give them to the so-called renewable fuels industry, that in turn means we import more oil, which in turn means the price of gas rises, which didn’t have to happen to begin with.  One of Biden’s stated goals is to squash the oil industry like a bug, and he is following through on that promise.  You can read about that here, and here.

Biden has destroyed women’s sports.  Biden supports children being able to change their sex (transgender); his assistant secretary for health is transgender.

From CNS News:

The idea that an 8-year-old child, a 10-year-old child decides, you know, “I want to be transgender, that’s what I think I’d like to be, it’d make my life a lot easier”—there should be no discrimination.

That’s sick, that’s really screwed up thinking.  A child can’t drink, can’t drive, can’t marry, can’t vote, and can’t make 90% of their own decisions – but let’s let them be the judge of what sex they would like to be.  What the hell is wrong with these people???

King Biden has also taken it upon himself to decide that weapons need to be regulated much better, the latest round of the Democrats “never let a good crisis go to waste” panic induced gun control, a prelude to their complete removal.  Plenty of people say this is only a conspiracy theory – well when it actually happens and we who have been warning of this for a long time now are proven right, it will be far to late.

On top of all the other damage Biden and his goon squad have accomplished, now the pretender-in-chief wants to raise taxes, and spend trillions of dollars to “fix” the economy.  I’ve got news for Biden and his cohorts – first, I don’t think any of these people are all that bright, Trump had the economic fix well in hand.  Second, Biden’s supposed fix for the economy, as well as the way to generate more jobs – well to put it plainly, it’s not going to work genius.

Despite the Leftist narrative out there that raising taxes sky high generates jobs etc., Clinton tried this same tactic before, and guess what?  It didn’t work.  Oh, and Clinton himself said he raised taxes to high.

Biden is busy trying to sell a HUGE tax hike by tossing the country a bone.  Here Fido, sit, good boy!  Except that we are not dogs, and Biden’s bone, his much vaunted infrastructure plan is a joke, a joke that will have serious consequences.

Due to Biden’s day one executive orders we have already sustained job losses.  Now Ol sleepy Joe apparently wants to demolish the economy and uncreate jobs.  How does the loss of one MILLION jobs due to Biden’s plans sound?  This ought to not only scare all Americans, but it ought to give wiser heads than mine pause for thought and serious evaluation.  Maybe a peek back into our nation’s history wouldn’t hurt either.

From Breitbart News:

They found that the U.S. would lose one million jobs in the first two years, GDP would be $117 billion lower by 2023, and ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023.

The construction industry is already reeling; COVID-19 did a lot of damage.  There are reportedly plenty of construction projects that were slated for 2020 and many of these projects either are not even started yet, or remain unfinished.  Labor shortages are also a serious problem – there is plenty of work out there right now, but people can’t be found to fill the jobs.  More construction jobs without people to do them isn’t much help.  Many people are working from home now as well.

Biden’s American Jobs Plan is riddled with serious problems and is not well designed.  No one is surprised that above 50% of the bills funding has nothing to do with its namesake, namely infrastructure and of course job creation.

Joe Biden’s grasp of the economy is on par with AOC’s – in other words, almost nonexistent.

From Fox Business:

“Raising taxes will not slow the economy at all,” Biden said Friday during remarks on the March jobs report at the White House. “We’re asking corporate America to pay their fair share. It will not slow the economy at all.”

How is it that the nominal head of America can be this ignorant?

But according to an analysis of Congressional Budget Office data published by the Tax Foundation, a center-right think tank, federal investments only deliver half the economic [sic] as private-sector investments — roughly 5% versus 10%. A dollar of federal spending results in only about $0.67 of actual investment because state, local and private sector entities reduce their spending in response.

In other words, Biden’s massive spending will have little positive effect and plenty of negative effects.

Then there is the issue of Biden raising taxes, and not just a little bit either, this is a massive increase like what Clinton enacted.  As taxes increase, companies decrease their spending – they hire fewer workers, invest less in their businesses or not at all, and when things are bad enough, they move overseas.  Trump knew all this, which is why he LOWERED taxes.  The result?  The economy boomed and companies came back to America and invested in America, they paid employees more, and even handed out bonuses.  Biden will undo ALL of this with his foolish tax hike.

From Washington Examiner:

“I think raising taxes in the middle of a pandemic and economic crisis isn’t just politically negligent but economically stupid,” said Republican strategist Matt Gorman.

The corporate tax rate would be increased from 21% to 28%, partially negating a cut signed into law by former President Donald Trump in 2017. Biden would also like to restore the Clinton-era top personal tax rate of 39.6%. Capital gain would be taxed as regular income, and unrealized capital gains would be subject to tax at death.

Ford was set to invest 900 million in a huge project in Ohio.  Ford has now announced that they are moving the new project to Mexico.  Ford said nothing about taxes or Biden, but why else would they renege on their plans?

As mentioned earlier, when companies are to tightly squeezed, they move jobs overseas, this is what happened in the past; then Trump took office and made great strides in reducing this.  Now Biden wants to reverse all this through the misguided efforts of his administration – because Democrats and RINOs never learn.

Here is another example of Biden trying to squeeze corporations to death by taxes.  Biden wants to make substantial changes to the global intangible low-tax income, or GILTI.  The current GILTI tax rate is 10.5%.  Biden wants to increase that to 21%!  Because of other changes in the tax code, the real effective rate will then become 26.5%.

These companies that flee overseas are looking to lessen their tax burden, a process known as “inversion.”  The U.S. has fairly high tax rates, and Biden wants to restore them to the Clinton era levels – so we will once again reign supreme as the nation that has the highest tax rates in the world.

Biden also wants to repeal the Tax Cuts and Jobs Act (TCJA) passed under Trump.

From Yahoo News:

The primary effect of the TCJA was to reduce taxes for Americans in the bottom 80 percent of the income distribution. Put another way, the top 20 percent of earners were the only ones who did not get a tax cut under the TCJA. Americans earning between about $40,000 and $80,000 per year benefited most from the TCJA, and millions of others at the lowest income levels were taken off the tax rolls altogether.

President Biden, along with House and Senate Democrats, have pledged to reverse all that.

This will also put the screws to many an American that inherits property from their parents.  As of now, the inherited property when sold (stepped-up basis) isn’t likely to carry a high tax burden provided the sale proceeds are near to or equal to the fair market value.  Biden wants to eliminate this as well making most of the sale proceeds taxable.

So could someone please remind me again how it is that Biden and the Democrats are good for this country???  I seem to have forgotten.

 

Article sources:
The Federalist
CNS News
U.S. News
The New York Times
Breitbart News
For Construction Pros
Fox Business
Washington Examiner
WKYC
The Washington post
WSJ
Yahoo News
TCP News


Viewpoints expressed herein are of the article’s author(s), or of the person(s) or organization(s) quoted or linked therein, and do not necessarily represent those of TCP News

What you can do to help:

 

It is vitally important that we all take the time to like and share articles regardless of what site you are on. Conservative sites (like this one) cannot count on traffic from Facebook etc. any more. Subscribing is also important; this bypasses the censorship. The more that we can get the word out the better – and in order to continue bringing you content like this – we ALL need traffic in order to survive. Sign up for desktop notifications (the red bell symbol). Running a website is not only expensive, it also takes a lot of time and effort.

No one likes ads, but very few people will donate, hence the reason most of us have ads.

Besides donating and clicking on ads, you can make a purchase from our store and buy my book.

Don't forget to follow TCP News on Parler, USA Life, Gab, Facebook, and Twitter

TCP News is proud to be ranked #24 in the Top 40 Conservative Political Blogs

Thank you for helping us grow, we appreciate it!


Previous articleCount Fraudula
Next articleAligned with God’s Will

2 COMMENTS

  1. We know all about Biden’s destructive programs and how bad it is for our country. So What??? We knew about it before the election and we also know the election was a fraud, about which Biden even bragged on video. So What??? What we don’t know is WHAT DO YOU PROPOSE WE DO ABOUT IT ???

    • Does the attitude you carry around with you ever get heavy?
      NO, not everyone knows “all about” Biden, that is why we write about this stuff. What to do? Speak out, write about it. Contact legislators, be informed. 2024 is coming. What else are we going to do??? Start a civil war? Why do you suppose Trump didn’t use the insurrection act? Too many think the solution is to literally start a war and take our government back. Now while I would love nothing more than to see Biden and the rest of the Dems ousted – I have news for these people, the results after a civil war was waged would be WORSE than the damage caused by the current idiot in the White House.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related news

The Left’s Incomprehensible Love Affair With Unsafe, Unsanitary, and Useless Face Masks

A mask shows your obedience to the government. It creates faceless Americans, devoid of personality, following orders   By Jeff Crouere (TCP News)  Several months ago, President...

The 1619 Project – Schools Teaching Kids That America Was Always Racist

Americans never decided our children should be taught that our country is inherently evil   By Jerry Newcombe, D.Min. (TCP News)  If there are riots now in...

We Are Guinea Pigs in a World-Wide Life-Altering Experiment

Congress gave the FTC supreme authority to arrest & fine anyone who doesn’t follow the gov. narrative on lock downs, masks, quarantines & vaccines   By...

Mothers A Gift Or Not A Gift?

To all mothers out there, HAPPY MOTHER’S DAY   By Rev. Austin Miles Working as a chaplain I have spoken to many young and older people about their...