The planned destruction of the middle class moves forward
Don McManus
Member Posts: 23,673 ✭✭✭✭
The proposed and obviously Unconstitutional 'billionaires tax' is yet another step towards the destruction of the middle class class in America.
We start by imposing a wealth tax on those with a net worth of $ 100 million. In a decade it will move down to those with a net worth of $ 10 million or perhaps less. All of these types of programs have done this; Income Tax, Social Security, etc., so history tells us this is not hyperbole.
A net worth of $ 10 million is not a hell of a lot anymore, particularly when a government decides to tax that portion of the net worth that is unrealized income. This is home values, the paper value of your investments, and most dangerously the value of the untaxed portion of your tax deferred retirement accounts.
Article 1 section 9 prohibits a direct tax upon the individual unless in proportion to population, meaning all pay the same. Amendment 16 overrides this with respect to income. Income is wages, interest income, and profits realized upon the sale of investments and does not include appreciation of assets that are still held. Biden probably does not understand this because he has been a leach on society his entire adult life, but who ever it is that is feeding him this crap obviously knows that this proposal is not Constitutional, and is, frankly, specifically prohibited by the Constitution.
Let there be no doubt that the elitists who are working towards the Marxist transformation of America know that their success lies in the destruction of the middle class and the upper middle class. The very wealthy are comfortable in their ability to buy their way out of oppression, and the very poor can be controlled through largesse. A vibrant middle class cannot so easily be controlled.
The $ 30+ billion this abomination will add to Federal income annually is trivial, so we know the goal is something deeper. Envy politics, perhaps, but far more likely the destruction of opposition to the fundamental transformation of America.
Brad Steele
Comments
Obama just finishing what he started..
"A net worth of $ 10 million is not a hell of a lot anymore, ..."
When thatt's no longer enough, they'll come for those who have $1 million in net worth.
The median net worth of members of Congress is right at $ 1 million today, Jim. It is possible that this metric will decide the floor.
Brad Steele
Pelosi opposes that tax we will see who is smarter her or Joe.
We will all pay this tax. They don’t tax the individual so to speak, they will tax the company that they run, or own. The CEO’s of a company will continue to receive their salary’s and benefits. The tax imposed on the company however will be added on to the price of the goods or service they provide, and the consumer will actually be paying the tax, not the individual that owns or runs the company. This is why they want to pass a bill that will require all companies and business’s to report how much carbon emission they produce so they can tax them by way of a penalty, and that penalty is again past on to the consumer. Anytime you hear them say, we are going to tax the wealth, or we must all pay are fare share, it is another way of saying, we are raising taxes on everyone.
Neither of the two major political parties will admit that we do not have a tax problem but rather a spending problem. The dems ignore the deficit and buy as many votes as possible. The republicans pay lip service to worrying about the debt and then turn around and raise it even more. There is no way to raise taxes high enough to cover their spending so for the country to survive, massive cuts will be needed. However, whichever party that attempts to do that will be committing political suicide, so that solution is unlikely.
The dems are famous for using the term, "pay their fair share", without ever defining what it means. The money that those billionaires have accrued isn't stashed away in a vault somewhere. It is invested in companies that employ people and pay their wages. I don't think adding an inefficient corrupt middleman like the govt will do anything but stifle those companies and reduce productive employment. It may create more govt jobs, but those jobs certainly aren't productive.
The only increase that I think that would be both productive and efficient is to remove the limit on social security withholding. Back in ancient times I did reach the limit and did not have to pay ss tax for part of the year but my budget was based on paying the tax. If I had to continue paying it for a few more months in that fiscal year I probably wouldn't have noticed the difference. I believe the limit this year is $147,000 and if someone making more than that has to continue paying SS withholding it shouldn't be to much of a hardship. Bob
The cultural terrorist occupy our government and in leadership in every American institution will never rest until they have destroyed everything.
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Biden wanting to eliminate the capital gains transfer..1031 exchange on like property of 500k or more.
Spot on.
The elite billionaires are the party handlers, You can be certain there will be loopholes in any new tax laws specifically aimed to safeguard party handlers. It is the party handlers feeding Biden the crap you speak of.
For the millionaires, the tax will have a trickle down effect as always. Problem is most of the middle class are too ignorant to understand how taxes always trickle down. Even worse the media, controlled by the party handlers, will place blame elsewhere meaning political opposition.
What we need to be worried about is Biden and his DEMOCRAT congress are proposing a corporate tax increase.
Raising corporate taxes would be make the current Bidenflation catastrophic for the poor and middle class. Further, raising corporate taxes will compromise the manufacturing renaissance generated by Trumps tax cuts. Raising corp taxes will also mean loss of good paying jobs, but then again and the way DEMOCRATs think: if Trump did it, it must be bad.
Yep. Al of the above.
The destruction of the middle class has been going on for many many years. The problem is that far too many can't see it for what it is.
The politics and the people who lead it knew what they where doing and many outside the beltway told us what they were doing to The USA. They enriched themselves and debased our currency and gave the country away to special interest and political payoffs to get elected.
Now we are declining rapidly into a godless socialist Trans humanism NWO. The Polarization of the so call two party political system is ripe for a dictator to take over and change the constitution and bill of rights under a police state with total awareness of all activities of we the people to instill the the rule of law and order.
The 2030 U.N. agenda along with the great reset with a new green deal is coming. Believe it or not. Of course more Chaos first to come to mold the people to the new reality that is coming first.
serf
Or...it could be that we just have totally incompetent politicians taking the easy way out and buying votes with government giveaways. That is what happens when folks vote for the more likeable candidate instead of the most qualified. If there is an actual plot to forge a NWO, it would require some intelligent guidance and that seems to be in short if nonexistent supply. Instead we have politicians worldwide fighting today's small fires and ignoring tomorrows needs.
As an example, is the oil shortage with high prices an evil plot to drive us to electric vehicles and renewable energy or extreme incompetence on the part of the politicians? None of them look at the long range effects of their policies or decisions. A prime example would be the Afghan withdrawal. No consideration about the actual results, just make a decision and quickly implement it without any long range planning. If there is a plot for a NWO, then the plotters must be just as incompetent as our politicians. After all, the Masons, Bilderberbergs, Skull and Bones, Illumatti, Elders of Zion, among others have been accused of plotting a NWO for at least decades if not hundreds of years. These so-called evil "geniuses" sure haven't accomplished much. I guess their leadership suffers from the same incompetence that infects our political system. Oh well, at least we have our choice of imaginary boogeymen to blame our own self inflicted problems on. Bob
Follow the money and who were the first money changers on a global scale? The Knight Templars and The Vatican?China did not expand with world trade but Spain,England,Portugal,Netherlands,France and other Kingly jurisdictions in Europe did!
How did the Nazi's get out of europe after WWII there Bob and how did all of Hitler's rocket men get into The USA? Money and intellect with greed is How! It's a spiritual battle laced with riches given by Satan in my opinon. You had the kings and priests in the placace and the temple. Even The Democrats call Washington D.C, The sacred Temple of Democracy.
serf
Today, January 6, is the Feast of the Epiphany. On this day of revelation, let us pray that this instigation to violence will provide an epiphany for our country to heal.In that spirit of healing, I invoke the Song of St. Francis – I usually do – St. Francis is the patron saint of my city of San Francisco and he is – his song is our anthem:
‘Lord, make me a channel of thy peace. Where there is darkness, let me bring light. Where there is hatred, let me bring love. Where there is despair, let me bring hope.’ Speaker Nancy Pelosi
https://www.bbc.com/news/business-38499883
The Templars were not the first organisation in the world to provide such a service. Several centuries earlier, Tang dynasty China used "feiquan" - flying money - a two-part document allowing merchants to deposit profits in a regional office, and reclaim their cash back in the capital.
But that system was operated by the government. Templars were much closer to a private bank - albeit one owned by the Pope, allied to kings and princes across Europe, and run by a partnership of monks sworn to poverty.
Well, that is kind of a meaningless segue to a pretty much non related subject. Civilization has evolved economically and that is all your post proves.
Getting back to how inept your shadowy evil architects of the NWO are, explain why in 1945 there were 74 sovereign nations in the world and now we have 196. It seems the world is splitting into smaller and smaller factions instead of uniting under a NWO banner. If you can't manipulate 74 countries, good luck with taking over 196. Bob
Non related? Maybe to you but you cannot refute the article posted By BBC and the international banks and the economic warfare they are causing on the nations. The cutting of The Elm tree has begun.
Watch Iran and Israel for that is one thorn that maybe the catalyst for much more chaos.
serf
https://www.middleeastmonitor.com/20211208-remember-this-it-will-be-israel-not-iran-which-destroys-any-new-nuclear-deal/
To me this NWO isn’t really so much to fear, kind of like a thousand points of light, just a why of expressing one’s ideas. Problem is no one can agree on what idea to follow, and who would be in control afterwards.
When they start talking one world government, that’s when I’ll start to get more concerned.
Our country has really slid downhill ever since most of our manufacturing moved overseas. Discriminating new laws and taxation made here that can be ignored on foreign ground has made us weak and dependent outside of our once sovereign gates.
The definition of "Middle Class" keeps changing just like many of the age old rules of etiquette and fair play. The new "Woke" mob will redefine anything to maintain their hold on power. From morality, gender, guilt and innocence, our history itself has been sawn away in efforts to brainwash our young into wokeness. A newer term that I have come to really HATE, but here it is!
My hope for our future is that somehow we can take several steps back before moving forward again. Back to the path our forefathers fought and died for. The path God Almighty made for us to follow.
The Bottle neck has started and the king with no clothes (Government Leaders) is now seen for what it is. You have been sold out and now they are coming for your freedoms. The money changers are coming with a new plan and you will have no choice but to accept slavery, believe it or not. Sovereignty debt crisis is coming with hyper inflation. The great reset is here very soon for both political parties are nothing but patsies for The NWO.
serf
Two swindlers arrive at the capital city of an emperor who spends lavishly on clothing at the expense of state matters. Posing as weavers, they offer to supply him with magnificent clothes that are invisible to those who are stupid or incompetent. The emperor hires them, and they set up looms and go to work. A succession of officials, and then the emperor himself, visit them to check their progress. Each sees that the looms are empty but pretends otherwise to avoid being thought a fool. Finally, the weavers report that the emperor's suit is finished. They mime dressing him and he sets off in a procession before the whole city. The townsfolk uncomfortably go along with the pretense, not wanting to appear inept or stupid, until a child blurts out that the emperor is wearing nothing at all. The people then realize that everyone has been fooled. Although startled, the emperor continues the procession, walking more proudly than ever.
And it's probably too late to effectively reverse the trend.