There is no doubt that Trump created growth and jobs. But that was before the virus came in and destroyed the growth. Now, there is a different mindset in the White House. The Biden administration wants to increase the taxes.
The democrats tax hike plan is to increase the taxes on top individual of 39,6%. Top corporate rate will jump to 26,5% and 3% surtax on income over $5 million. This is a typical socialist agenda among socialists.
We know from history that Communism doesn`t work. We know that socialism isn`t Communism, but it`s Communism light if you will. Cutting the head of successful antrepreneurs has never worked in the long run.
What people and socialists around the world should understand is that you are dependent of creative antrepreneurs. They are the reason why you have so much wealth and health right now. They gave you a luxury car, a smart phone and lots of internet of things.
They created products a lot of people around the world demanded. That demand was great business for the antrepreneurs and their businesses, and that is were the money to the socialists comes from. You cannot run a country without socialism, but you are dead without capitalism which comes first.
Tax foundation president Scott Hodge said the Biden tax plan will shrink the size of the economy by 1%. It will also cost the economy about 165,000 jobs. Shrink wages and capital stock. So, it will fewer jobs and the growth will be slower.
The tax on induviduals in New York will increase over 60% and that will make many people to leave Manhatten and flee to for example Florida were they treat people much better than any other places in the U.S.
Corporations will do the same. They will run as fast as they can to other places with a better tax plan. We also know from history that places with rich people and big corporations will have bigger growth than places with higher taxes and slower growth.
A research study found that about 51% of the economic burden on the corporate income tax falls on workers through lower wages. We saw the opposite happened under Trump. Growth went up and so did the wages.
The groups that are most harmed by the tax hike are women, low-skilled workers and younger workers The most marginal workers in the workforce.
So what we`re going to see from raising corporate taxes is a shrinkage of those kinds of jobs for the most vulnerable people in America.
House Democrats aim to raise a $2 trillion in tax revenue, and that is a very agressive tax plan.
Former president Donald Trump was a commander-in-chief, but the Hate Media attacked him every single day. No matter what he did or say. The same cannot be said about President Joe Biden. Media loves him. No matter what he say or does.
A commander-in-chief or supreme commander is the person who exercise supreme command and control over an armed forces or a military branch. As a technical term, it refers to military competencies that recides in a country`s executive leadership, a head of state or a head of government.
Trump confronted China, defeated ISIS and depleted Iran. He did this because he wanted to protect the United States of America. Trump also created security at the boarder with Mexico, while Biden made a lot of chaos, but the Hate Media doesn`t talk much about that.
Steve Hilton think Trump was a strong leader with a peace of strength leadership, but Biden and the failed establishment is nothing but chaos through weakness. Rep Jackie Speier said on CNBC that the chaos is an «Intelligence failure.»
On July 8, Biden was questioned over intel before Afganistan collapsed. «Your own intelligence community has assessed that the Afghan government will likely collapse,» a journalist said. «That`s not true,» Biden said. Experts are claiming Biden lied and the Democrats is trying to shift the blame on the Intelligence community.
Wait a minute. This is similar to the chaos former president Bush created. He said Iraq had weapons of mass destruction, and went to war on that. But it was all a big lie. The chaos started after the attack on twin towers, 9/11, 2001.
For all I know, Bush has never been in Iraq. So, who told him that Iraq had weapons of mass destruction?
We all know the chaos in Afghanistan, but who is talking about the leadership that created it? Very few, but Steve Hilton does, and he is angry. President Biden gave the government to Taliban only days before the 20th anniversary of 9/11.
This is a war England lost. This is also a war that Russia lost. They got bankruptsy in 1998 because of the war in Afghanistan. Now, the US gives up too. Billions is lost. Thousands of soldiers are killed, and there is nothing left.
This is embarrassing and Taliban declares the Islamic Emirate of Afghanistan. It seems like the democracy in Afghanistan is working, if democracy is «control of an organization or group by the majority of its members.»
It`s funny to watch Great Britain and the United States at the moment. In the U.S, the conservatives lost the election and Biden and his left wing democrat administration won. In the U.K, Boris Johnson and his conservative friends won in a landslide. The same can not be said about Biden.
They are both outside of the EU and Trump and Johnson was considered to be a win against socialism. Take a look at the slogan Johnson has; Build back better. They are leaving the business club EU and want to build back better.
But take a look at Biden and his slogan; Build back better. Biden and the democrats wants to build back what Trump did. They are on two different planets, with two different world views.
Everything has been great with the Labour Party for years, but they have been in trouble before. One of the most deprived areas of the UK, the blue-collar port saws its steel industry collapse in the 1970s and 80s and the unemployment rate remains among the highest in the century.
Politically, it`s backed the Labour Party at every UK election for almost half a century, but then came Brexit.
As of April 12, Boris Johnson`s approval rating remain very high at 70%. Not only that. Brexit has also a 70% approval rating, so there is not doubt that the people in Great Britain support the conservatives and Brexit.
According to Nigel Farage, the Labour Party is finish in England. The country is about the change rapidly. Queen Elizabeth said in the Parliament a few days ago that the UK will strengthen the borders. Legislation will also be introduced to ensure the integrity of elections.
They saw what happened in Georgia during the U.S election and learned from the mistakes in the U.S. Dead voters will have problems to vote if they have to show up personally with a picture on the voting day.
Freedom of speech will also be protected. This is very similar to whats happening the U.S. They are both about the change rapidly. What a interesting world we are living in.
A once in a generation investment. That`s what president Biden called his $2 billion program of infrastructure spending. Biden said it will create millions of jobs while giving roads, utilities and American industry a badly needed upgrade.
But somebody have to pay for it, but who? «We the people» of course. The corporations. And there is one simple way to do that: TAX. Minimum wages are rising. So are the taxes, and what is that suppose to mean? It means the inflation is coming.
«I`m proposing a plan for the nation that rewards work. Not just rewares wealth. It builds a fair economy that gives everybody a chance to succeed. And it`s going to create the strongest, most resilient innovative economy in the world,» Biden said in a speech a few days ago.
The Biden administration plans on modernizing 32,000 kim of highway, 500,000 charging points for electric autos, and bringing back key industries such as chip production back to the U.S. Chips are still mostly produced in Asia. (Bringing back chip industries sounds like a Trump strategy).
The project is expected to take eight years to complete, and some of the funding will come from a corporate tax hike from 21 to 28 percent. Biden`s supporters say the program will create millions of well.paid jobs, and stregthen America`s ability to compete with China.
2 trillion dollars is a lot of money and there is no doubt that this program will boost the semiconductor industry, but also the EV industry.
Biden said he is not worried about the U.S economy at all. At the same time, Janet Yellen makes a push for global minimum corporate tax. She doesn`t want a race to the bottom, and warns of dangers to the American economy if U.S acts alone in raising corporate tax rates.
When Obama hiked corporate taxes, businesses fled. One of the largest corporations in the world; Apple, ended up in Irland thanks to a great offshore plan, but Trump were bringing the company back to the U.S.
It speaks for itself. The more money corporations pay in tax, the less competetive they are on the world stage.
The time we are living in today, is similar to the 30`s, and Biden`s infrastructure plan is often comparead to Franklin D. Roosevelt`s «New deal».
The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939.
The programs focused on what historians refer to as the «3 Rs»; relief for the unemployed and poor, recovery of the economy back to normal levels, and reform of the financial system to prevent a repeat depression ( the stock market crached in 1929).
The first deal (1933 – 1934) dealt with the pressing banking crisis through the Emergency Banking Act and the 1933 Banking Act. The Federal Emergency Relief Administration provided $500 million ($9,88 billion today) for relieft operations by states and cities, while the short-lived CWA gave locals money to operate Make-work projects in 1933 – 1934.
The Securities Act of 1933 was enacted to prevent a repeated stock market crash.
The second New Deal in 1935 – 1936 included the National Labor Relations Act to protect labor organizing, the Works Progress Administration relief program (which made the federal government the largest employer in the nation), the the Social Security Act and new programs to aid tenant farmers and migrant workers.
The final major items of New Deal legislation were the creation of the United States Housing Authority and the FSA, which both occurred in 1937, and the Fair Labor Standards Act of 1938, which set maximum hours and minimum wages for most categories of workers.
Keep in mind that all this happened a few years before the World War II occurred.
The economic downturn of 1937 – 1938 and the bitter split between the American Federation of Labor and Congress of Industrial Organizations labor unions led to major Republican gains in Congress in 1938.
Conservative Republicans and Democratas in Congress joined the informal conservative coalition. By 1942 – 1943, they shut down relief programs such as the WPA and the CCC and blocked major liberal proposals.
Nonetheless, Roosevelt turned his attention to the war effort and won reelection in 1940 – 1944. Furthermore, the Supreme Court declared the NRA and the first version of the Agricultural Adjustment Act unconstitutional, but the AAA was rewritten and then upheld.
Republican president Dwight.D. Eisenhower (1953 – 1961) left the New Deal largely intact, even expanding it in some areas. In the 1960`s, Lydon B. Johnson`s Great Society used the New Deal as inpiration for a dramatic expansion of liberal programs, which Republican Richard Nixon generally retained.
However, after 1974 the call for deregulation of the economy gained bipartisan support. The New Deal regulation of banking (Glass-Steagall Act) lasted until it was suspended in the 1990`s.
From 1929 to 1933 manufacturing output decreased by one third, which economist Milton Friedman called the Great Contraction. Prices fell by 20%, causing deflation that made repaying debts much harder.
Unemployment in the United States increased from 4% to 25%. additionally, one-third of all employed persons were downgraded to working part-time on much smaller paychecks. In the aggregate, almost 50% of the nation`s work-power was going unused.
Before the New Deal, deposits at banks were not insured. When thousands of banks closed, depositors lost their savings as at that time there was no national safety net, no public unemployment insurance and no Social Security.
The depression had devastated the nation. As Roosevelt took the oath of office at noon on March 4, 1933, all state governors had authorized bank holidays or restricted withdrawals. Many Americans had little or no access to their bank accounts.
Farm income had fallen by over 50% since 1929 (stock market crash). An estimated 844,000 non-farm mortgages had been foreclosed between 1930 – 1933, out of five million in all. Political and business leaders feared revolution and anarchy.
In 1935, Roosevelt called for a tax program called the Wealth Tax Act (Revenue Act of 1935) to redistribute wealth. The bill imposed an income tax of 79% on incomes over $5 million. It raised the bitterness of the rich who called Roosevelt «a traitor to his class» and the wealthy tax act a «soak the rich tax».
The Roosevelt administration was under assault during Roosevelt`s second term,which presided over a new dip in the Great Depression in the fall of 1937 that continued through most of 1938. Production and profits declined sharply.
Unemployment jumped from 14,3% in May of 1937 to 19% in June 1938. The downturn was perhaps due to nothing more than the familiar rhythms of the business cycle, but until 1937 Roosevelt had claimed responsibility for the excellent economic performance.
That backfired in the recession and the heated political atmosphere of 1937.
Keynes did not think that the New Deal under Roosevelt ended the Great Depression: «It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on the scale necessary to make the grand experiments which would prove my case, except in war conditions.»
Worldwide, the Great Depression had the most profound impact in Germany and the United States. In both countries the pressure to reform and the perception of the economic crisis were strikingly similar.
When Hitler came to power he was faced with exactly the same task that faced Roosevelt, overcoming mass unemployment and the global Depression. The political responses to the crisis were essensially different; while American democracy remained strong, Germany replaced democracy with fascism, a Nazi dictatorship.
The initial perception of the New Deal was mixed. On the one hand, the eyes of the world were upon the United States because many American and European democrats saw in Roosevelt`s reform program a positive counterweight to the seductive powers of the two great alternative systems, communism and fascism.
As the historian Isaiah Berlin wrote in 1955: «The only light in the darkness was the administration of Mr. Roosevelt and the New Deal in the United States».
By contrast, enemies of the New Deal sometimes called it «fascist», but they meant very different things. Communists denounced the New Deal in 1933 and 1934 as fascist in the sence that it was under the control of big business. They deopped that line of thought when Stalin switched to the «Popular Front» plan of cooperation with liberals.
Vice President Mike Pence refused President Donald Trump`s demand that he try to block the confirmation of Joe Biden`s election as the next president of the United States by Congress. «I do not believe that a vice president has the unilateral power to reject Electoral College votes for a candidate, Pence wrote in a letter on Wednesday.
«It is my considered judgment that my oath to support and defend the Constitution constrains me from claiming unilateral authority to determine which electoral votes should be counted and which should not,» Pence wrote in his three-page letter addressed to members of Congress.
His dramatic break from Trump came minutes before the Republican vice president began presiding over a joint session of Congress, which is meeting to declare the former Democratic vice president Biden the victor.
Pence also said in the letter that he shared «the concerns of millions of Americans about the integrity of this election,» which Trump and his supporters have claimed without evidence was corrupted by widespread ballot fraud.
In the same letter, Pence wrote that «vesting the Vice President with unilateral authority to decide presidential contests would be entirely antithetical to» the system of check-and-balances between branches of the government designed by the framers of the Constitution.
«The Presidency belongs to the American people, and them alone,» Pence wrote. «When disputes concerning a presidential election arise, under Federal law, it is the people`s representatives who review the evidence and resolve disputes through a democratic process, Pence wrote.
Trump tweeted two hours later that «Mike Pence didn`t have the courage to do what should have been done to protect our country and our Constitution, giving States a chance to certify a corrected set of facts, not the fraudulent or inaccurate ones which they were asked to previously certify,» Trump tweeted.
The United States Constitution, Article II, Section I say that «Each State shall appoint, in such Manner as the Legislature thereof may direct, a Number of Electors, equal to the whole Number of Senators and Representatives to which the State may be entitled in the Congress: but no Senator or Representative, or Person holding an Office of Trust or Profit under the United States, shall be appointed an Elector.
Trump warned about the problems long before the election, and all the Republicans voted to reform the process while all the Democrats voted against it. Yes, against it. But what people want is a fair election.
It is alarming to see countries not follow their own Constitution, and the US is not the only one. This is also a wake-up call to other countries.
«When exposing a crime is treated as committing a crime, you are being ruled by criminals,» Edward Snowden once said. Snowden revealed corruption at the highest level.
«Save America protesters» are backing Trump and they stormed the Capitol. That is something I have never seen in my entire life. At the same time, Pence ushered out of the Senate as a precaution. People are fighting for Trump and said the fight has just begun.
Multiple courts have rejected Trump`s claims of fraud and election irregularities, and GOP lawmakers are expected to object to the election results of several other states, and that will delay the confirmation that Joe Biden won the presidency.
This election is historic, and the fight continues…….