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Remember When Democrats Thought Taxing the Wealthy Was Good Policy?
There’s a reason Republicans have been able to move forward on taxes, but not Obamacare or border security. The Donor Class wants a tax cut and have given permission for their pet senators to vote “Yes.” Even “man of mighty principle” Sen. Bob Corker has gone from No to Yes … now that the new tax plan has a carve-out that will make him millions.
Democrats are not happy. Democrats are never happy but ever since the election of PDT, they’ve been absolutely deranged; some of them are even starting to sound like Bill Kristol. 160-year-old California Senator Dianne Feinstein (net worth $80 Million) complains that the Republican budget is too hard on the rich because of the mortgage interest deduction cap.
The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more than $750,000: Alameda, Marin, Orange, San Francisco, San Mateo, Santa Clara and Santa Cruz counties. #GOPTaxScam
I have news for you … all of those counties vote solid Democrat. They want their taxes increased.
Feinstein is far from alone, other Democrats from high-tax states are spitting mad that the tax plan caps the deduction for state and local taxes at a level that only benefits the middle class.
During a joint conference call with reporters, California Gov. Jerry Brown, New York Gov. Andrew Cuomo and Gov.-elect Phil Murphy of New Jersey denounced the bill heading toward a congressional conference committee as “dangerous,” “fraudulent,” “nefarious,” “a scam” and “trickle down on steroids.”
In fact, the states with the highest state and local tax burdens are California, Connecticut, Illinois, Maryland, Massachusetts, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, and Wisconsin. Between them, these 12 states send exactly one Republican senator to Washington and all but one have gone Democrat in every presidential election since 1992. According to the Google machine, all of these states but Maryland and Wisconsin have recently raised taxes, and/or are planning on tax increases in the coming year.
What that tells me is, the people who live in these states want higher taxes. And the top income earners — Hollywood people, Silicon Valley techies, New York hedge fund managers who live in Connecticut — give huge amounts of money to the Democratic Party. They should be celebrating that their taxes are going up. Instead, some of these wealthy Democrats are apparently thinking of leaving. Lousy traitors.
Published in Domestic Policy
Just in case there is some doubt how I feel about this:
Just remind them that they should feel good about doing their part to reduce income inequality.
What the heck? Turns out they don’t want to pay their fair share after all! Whodathunkit?
Remember when Republicans were the party of small government? What leading conservative or republican is proposing cuts to programs/departments?
Zing!
If you have had the good fortune to discover Catherine Austin Fitts on YouTube, you come to realize that every government-funded program serves as a slush fund for An Inner Circle of the Political Elite.
No no no, you misunderstand! They want to tax the rich (where “rich” is defined as “someone who makes more money than I do”).
In reality, the GOP is the party of tax cuts, and the Democrats are the party of more government spending. That’s why no matter who wins, the debt always grows larger.
This is almost right. They want someone else to pay taxes. For most Democratic voters here in California, that is, indeed, still “the rich”. Feinstein just lost touch with her base. (She doesn’t really hang much with Hector the leaf blower). Remember when Obama was fund raising at the Facebook twerp’s house and he said, “I want to ask the most fortunate to pay their fair share” and the twerp replied, “I’m cool with that”. The fair share is yet to be determined, but I’m pretty sure the IRS does not “ask” anything. It commands and threatens, prosecutes and jails.
Zuckerberg has a hospital named after him. If he wants to donate an equally large check to the Treasury Department to help pay down the national debt, no one’s stopping him. I’m sure we could even find a federal building or bridge somewhere to name in his honor.