Biscuit (Noun) : A person who is willfully ignorant and almost certainly incompetent

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Education Tuesday

Could Democrats be any more stupid? Don’t answer that, I’m afraid of the answer. In their latest attempt to coerce some of the people in their party with brains to vote for their idiotic spending bill they’ve made changes to all their plans.

They’ve decided to scrap tax increases on corporations (remember “they need to pay their fair share”?), and intend to leave the Trump tax cuts to individuals in place. They’ve now replaced these ideas with something that will sound great to their moronic voting base, but is actually a giant joke. Nope, now we are just going to tax the assets of billionaires.

A first-of-its-kind proposal from Democratic lawmakers to tax U.S. billionaires on the assets they own is expected to face challenges from the super-rich, and be tough to implement, say tax experts and investors.

The proposal, set to be unveiled as soon as Tuesday, would require roughly 700 U.S. billionaires to pay taxes annually when their stocks and some other assets increase in value, according to people familiar with the matter.

Currently, such taxes are only due when the stocks are sold.

House of Representatives Speaker Nancy Pelosi says Democrats hope the plan would raise as much as $250 billion to help pay for expanding the social safety net and tackling climate change.

Now let’s think about that for a minute. President Dementia has been going around for two weeks telling us that the spending is all paid for by tax increases. He says it costs “zero, zero, zero.” He’s a lying piece of shit.

Again, see above – this new idea would raise $250 billion. Democrats intend to spend at least 1.75 TRILLION, and of course their original goal was to spend $3.5 TRILLION. $250 billion in raised revenue ain’t paying for that, even the most uneducated redneck knows that math don’t work.

The unintended consequences are rampant. This tax would confiscate from billionaires when their assets go up. What happens when their assets go down? We all know the market is capable of crashing – sometimes in a very big way. Like when the Chinese attack us with a virus. Does the government then have to give back money they confiscated from the billionaires when prices were higher? How the hell do you calculate it? Again – it sounds great to morons who want to believe billionaires are getting fleeced – but it’s incredibly hard to actually figure out, implement and administer.

“It’s a stupid idea,” said billionaire Leon Cooperman, an investor who warned such a law could cause “unnatural” economic reactions. “The progressives are out to lunch.”

But Gabriel Zucman, a University of California at Berkeley economics professor whose research on the subject helped inspire Democratic tax proposals, said that “billionaires have lower taxes than the middle class” as a percentage of their income.

Pardon me if I have my doubts about a professor from UC Berkely having a clue about the real world.

This won’t work, it will be a complete disaster.

2 thoughts on “Education Tuesday”

  1. Sssh – don’t tell the Dems – these idiots could simply pass a “Flat tax” add on for billionaires. No muss – no fuss -in fact, many billionaires already agree they could/should pay more! Wouldn’t even have to fight which stocks went up or down! And how about this for a bonus: Look at the savings from NOT HAVING TO HIRE 25,000 new government employees to monitor this group EVERY DAY OF THE WEEK!
    Better yet, when are we going to knowledge it’s ALL TAXPAYER’S OBLIGATION to pay their fair share (even if just a couple of bucks a week)? CNBC (I know, a less than stellar source) noted 100 million households, or 61% of all taxpayers, PAID NO FEDERAL TAXES IN 2020! Think about it, what if all these individuals had to pay a lousy $2 a week ($104 ANNUALLY)? You do the math – money in the billions! Heck, if you want to keep the poor vote, do the billionaires at a flat 1 or 2 % add on making them pay a great deal more and the poor folk are happy!
    All this figured out by ONE PERSON IN LESS THAN 10 MINUTES!!!! Sssh – don’t tell the Dems!

  2. Thomas “Pops” Petty

    The various world leaders (read “parasites “) are already discussing a way to do away with tax shelters & shell companies, to attack the rich for being, rich.

    Taxes are theft. Taxes should be applied equally to all. Everyone screams about the need for equality but the rich are targeted for nothing more than being well off.

    Why is a flat tax against the law? Why not do away with ALL exemptions & assess everyone a flat 10% on their income? Better yet, a National Sales tax. No one would be exempt. You could exempt food but everything else is fair game.

    No, this billionaire tax is nothing more than a smoke screen to get the bill passed so they can bankrupt our nation.

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