Caught

Joe Biden and Fellow Dems Caught in MASSIVE Tax Lies

So-called “Moderate” Democrats in Congress are caught between the establishment and the more progressive Democrat-Socialists and must navigate between their ultra-rich .01% donor class and their grassroots socialist far left. They’re being strangled by their lies to both sides. The hypocrisy is alive and well in the party of Andrew Jackson and the legendary DNC doublethink is straight out of 1984. Simultaneously, they must despise the rich to please the proletariat-socialist masses, while desperately needing support from the wealthy and bending to their will. It feels just like when Sen. Bernie Sanders stopped badmouthing “millionaires and billionaires” and switched to just “Billionaires” after his net worth popped the $1M cap, only to get caught between Hillary and her presidential destiny.

How Did They Get Caught?

The SALT (State and Local Tax Deduction) cap of $10k was enacted by the GOP led Congress in 2017 in order to bank roll Trump’s massive tax cuts across the board by closing this loophole that benefited the top 1% of earners.

CommonDreams.org reported,

“Now, with Democrats in control of the upper chamber, several lawmakers are using their leverage in the narrowly Democratic House to try to force a full repeal of the SALT cap into upcoming legislation. The Institute on Taxation and Economic Policy (ITEP) estimates that 62% of the benefits of repeal would go to the richest 1%.

In a joint statement late Tuesday afternoon, Reps. Tom Suozzi (D-N.Y.), Josh Gottheimer (D-N.J.), and Bill Pascrell, Jr. (D-N.J.) declared that they “will not accept any changes to the tax code that do not restore the SALT deduction and put fairness back into the system.”

The New Jersey three, subordinate as they are to the North Jersey and ‘Jersey Shore’ wealthy socialite class are feeling the heat from their donors. They know that if the Biden-Harris tax hike goes through they had better have something to show for it before fundraising season hits. In a true reversal of the Democrat’s favorite talking point, they find themselves fighting for the top 1% and blaming the GOP for wronging them.

“We say, ‘No SALT, no deal,'” the lawmakers said. “The GOP passed an unfair cap of $10,000 on state and local tax (SALT) deductions to pay for their 2017 tax giveaway. Due to the GOP cap, our home states of New York and New Jersey have been crushed and residents have been leaving for other states.”

The Fallout From The Democrat-Socialist Left

In 2019 Congresswoman Alexandria Ocasio-Cortez found herself in the dubious position of voting with Republicans against a suspension of the $10k cap on SALT. The bill later died in the GOP controlled Senate.

Steve Wamhoff of the ITEP dropped the bomb in a recent blog post,

“House Democrats included a provision suspending the cap for 2020 as part of a COVID relief package last year. ITEP estimated that this would cost more than $90 billion in a single year. We found that 62 percent of the benefits would go to the richest 1 percent and 86 percent would go to the richest 5 percent. There is no state where this is a primarily middle-class issue. In every state and the District of Columbia, more than half of the benefits would go to the richest 5 percent of taxpayers. In all but six states, more than half of the benefits would go to the richest 1 percent.”

The Week’s Ryan Cooper lit the Democrat’s strawman on fire in his March 30th editorial “The rotten center of the infrastructure debate” he wrote what could be the epithet of Biden’s Infrastructure spending plan and will enrage the green-new deal crowd.

“Rep. Scott Peters (D-Calif.) told Axios that increasing the headline corporate tax rate from 21 percent to 28 percent was too much, and instead it should be only 25 percent. Reps. Josh Gottheimer (D-N.J.) and Rep. Tom Suozzi (D-N.Y.) not only fretted about tax hikes, but also demanded a big tax cut for the rich — namely, the restoration of the federal deduction for state and local taxes (or SALT)”

“In short, Democratic moderates are holding climate policy hostage to get a tax cut for the rich.”

Oof.

Joe and Kamala are already having a really hard time wrangling the BLM and Antifa snakes they loosed upon the nation to gain power, and now they’re going to lose their Green New-Deal Democratic Socialists too. It’s getting pretty lonely at the top as the base of the Democrats’ power continues to fracture and disintegrate. They’re caught between their lies to both sides, and everyone blames Joe.

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