Saturday, June 12, 2021

Who do we work for?

From Hot Air 

Here’s some of what Democrats propose.

The top personal income tax rate, which is also the tax rate paid by successful small businesses such as LLCs, sole proprietors, partnerships, and S corporations, would rise from 37% to 43.4%.

The corporate tax rate would go up from 21% to 28%, close to the highest rate in the developed world.

The capital gains tax rate would rise from 23.8% today all the way to 43.4% for higher earners.

A second, "double death tax" would be created by taxing people on their unsold investments at death, assets that would then still be subject to the 40% death tax.

Some Democrats want “even more tax increases on top of these, such as a gas tax hike or a carbon tax.

“Then there's H.R. 3, the crown jewel of healthcare legislation coming out of Pelosi’s slim majority. The bill imposes government price controls on 250 of the most common prescription medicines, including insulin. In order to make sure that the price control is adopted, the government gives an ‘option’ for the drug to be subject instead to a brand new 95% drug tax. Since people ultimately pay taxes, the 95% Pelosi Drug Tax will fall directly on consumers of prescription medicines, notably seniors.

https://www.washingtonexaminer.com/opinion/democrats-push-95-drug-tax-rate

Link at hotair.com

Well, if we seniors can’t afford the cost of prescription drugs plus the 95% tax, we will die off sooner, leaving younger voters, presumably Democrats, to pay for everything else politicians think up. After all, everybody should pay his or her or their fair share. If old folks are not around, the young'uns will have a whole lot of fair share payments.

 

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