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(The Economic Collapse Blog)—She just can’t help herself. If Kamala Harris was smart, she would not have any specific policy positions. She is not a serious candidate and she should not try to be one. Her best chance of winning to to just wave and smile a lot. When she was running on “joy” for the first couple of weeks, millions of Americans loved that. Of course it was a total charade because just like Hillary Clinton, behind the scenes Kamala Harris is extremely mean and vicious. That is why she has always had such a high turnover rate among her staff. But if she had just kept running on “joy”, there is a very good chance that she could have won.
Unfortunately for Harris, she feels compelled to tell the American people what she actually plans to do once she becomes president.
And that is a really bad thing for her campaign, because just about everyone hates her ideas.
For example, why would she tell the American people that she wants to raise taxes? I don’t know anyone that actually wants to pay more taxes.
She should have just said nothing about taxes and then raised them after the election. By telling people in advance what she plans to do, she is just losing votes.
Americans for Tax Reform examined the plan that she has endorsed, and they concluded that it would raise taxes by 5 trillion dollars over the next 10 years.
The biggest chunk of that new money would come from raising the corporate tax rate from 21 percent to 28 percent…
U.S. Vice President Kamala Harris is proposing to increase the corporate tax rate to 28% from 21% if she wins a November election against Republican rival Donald Trump, her campaign said on Monday.
Harris campaign spokesperson James Singer said the move would be part of “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”
We are being told that raising the corporate tax rate to 28 percent would bring in about a trillion dollars in revenue over the course of the next ten years…
When Trump was president, he slashed the corporate tax rate to 21% from 35% and implemented other tax breaks that are set to expire next year. Trump has vowed to make the cuts permanent.
The Committee for a Responsible Federal Budget, a nonpartisan advocacy group, said on Monday that Harris’ proposal to raise the corporate income tax rate to 28% would reduce the U.S. deficit by $1 trillion over a decade.
But we certainly won’t raise that kind of revenue if corporations start moving out of the country in very large numbers. If what Kamala Harris is proposing becomes law, we will actually have a higher corporate tax rate than communist China…
Kamala Harris wants to hike the current 21% federal corporate income tax rate to 28%, higher than communist China’s 25% and the EU average of 21%, her campaign said Monday.
The Kamala Harris federal 28% rate is higher than the Asia average corporate tax rate of 19.8%, the EU average of 21%, the world average of 23.5%, and the OECD average of 23.7%.
If you don’t want to be called a communist, don’t try to tax businesses even harder than the communists.
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Another element of the plan that Kamala Harris wants to implement that is causing a lot of controversy is a proposal to tax the unrealized capital gains of the ultra-wealthy. According to the Los Angeles Times, taxing those unrealized capital gains is part of a scheme for “a 25% minimum tax on the annual income of taxpayers with wealth of more than $100 million”…
All right, guys, take a deep breath. Harris hasn’t proposed taxing your unrealized capital gains, or mine. What she has said, as the Harris campaign told me, is that she “supports the revenue raisers in the FY25 Biden-Harris [administration] budget. Nothing beyond that.”
So what’s in that Biden-Harris administration budget for fiscal year 2025?
The budget plan does indeed call for taxation of unrealized capital gains held by the country’s uber-rich. That’s part of its proposal for a 25% minimum tax on the annual income of taxpayers with wealth of more than $100 million — a wealth tax. If you’re a member of that cohort, lucky you. But at that level of affluence you don’t have grounds to complain about paying a minimum 25% of your annual income.
Maybe you agree with Harris that it is time to stick it to the ultra-wealthy. Okay, but what is going to happen when lots of them decide to move out of the United States because they don’t want their unrealized gains taxed?
As Chicago venture investor Robert Nelson has pointed out, this proposal would have very serious consequences for our economy…
Taxing unrealized gains is truly the most insane, economy destroying, innovation killing, market crashing, retirement fund decimating, unconstitutional idea, which was probably planted by Russia or China to destroy the economy. Dems need to run away from this wildly stupid idea.
Many of the ultra-wealthy were originally inclined to support Harris.
Why is she seemingly intent on driving them away?
So far, I have just discussed two of the elements of the plan that Harris has endorsed. There are quite a few others that are also very troubling…
- Having small business owners pay taxes on their individual tax returns, up to 39.6 percent from the current 37 percent
- Imposing a second “death tax” — a mandatory capital gains tax at death — in addition to the current death tax
- Imposing a 21 percent global minimum corporate tax rate, which goes beyond the Organization for Economic Development’s (OECD) current 15 percent global minimum tax rate
- Quadrupling the tax on stock buybacks, which would impact Americans’ 401(k)s and other retirement accounts
- A 30 percent federal excise tax on electricity used in cryptocurrency mining
- A $37 billion tax on American energy
- A 32 percent increase in Medicare taxes
This is insane.
The federal government does not have a revenue problem.
Right now, the federal government is bringing in about 5 trillion dollars a year. What the federal government has is a spending problem.
We are trying to live way beyond our means, but the American people just keep sending the same big spenders back to Washington.
We are literally in the process of committing national suicide, and I really wish that I could get more people to understand that.
The national debt has surged past the 35 trillion dollar mark, and it continues to rise at a pace of more than 200 million dollars an hour.
Our federal government is the largest government in the entire history of our planet, and if #ComradeKamala gets into the White House it will inevitably get even larger.
Michael’s new book entitled “Chaos” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Diddy Charges and Arrest Beg the Question: What Other Elite Hollywood Celebs Knew About ‘Freak Offs?’
by Outkick
Puff Daddy is finally facing the mother of all karma for his alleged sick and twisted behavior spanning a decade or more. At yesterday’s press conference, reporters asked the attorney why it took so long to get these charges and that’s a great question. Fs Sot 3 (5) Here’s another…
Is This Kamala’s Biggest Lie About Her Family Yet?
by Natural News
U.S. Vice President Kamala Harris has falsely claimed that her grandfather was a freedom fighter in the Indian independence movement. The Democratic presidential nominee shared on Sept. 8 a picture of herself in India with her maternal grandfather P.V. Gopalan. She described him as a “retired civil servant who had…
What Did John Brennan Know?
by Frontpage Mag
In the wake of the second attempt on his life, Donald Trump flagged the “highly inflammatory language” Democrats have deployed against him, such as the charges of Joe Biden and Kamala Harris that the former president is a threat to democracy and so forth. When it comes to inflammatory language…
Are the White House and Pentagon Controlled by a Shadowy Few?
by Zero Hedge
As we approach the 2024 election, many Americans are disillusioned by the notion that their votes truly matter. Why? Because there’s a growing belief that a hidden force – often referred to as the Deep or Administrative State – wields disproportionate power behind the scenes. Despite our democratic process, can…
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Do We Have Another Instance Where the Secret Service Can’t Get Its Story Right?
by Townhall
Former President Donald Trump was nearly assassinated on September 15 while golfing in West Palm Beach. The former president’s trip to Trump International Golf Club was not planned, but would-be assassin Ryan Wesley Routh was waiting on the course, hiding in a shrubbery for 12 hours with a rifle and…
City Demands Pastor Take Down ‘Jesus’ Sign in Front of Church, Gets Epic Response From Him During Sermon
by Western Journal
Freedom-loving Americans cannot help but bemoan the mounting authoritarianism of both federal and state officials. As we discovered during the COVID era, however, sometimes Satan infects even our neighbors with the spirit of petty tyranny. In a clip posted Tuesday to the social media platform X, Pastor Mark Driscoll of…
Leftists Deserve the J6 Treatment
by J.B. Shurk
Remember: illegally appointed special counsel Jack Smith is prosecuting President Trump in D.C. for exercising his constitutional right to free speech after the 2020 election. Smith’s case essentially claims that Trump was not entitled to question the legitimacy of the mail-in ballot–tainted election and that his refusal to concede to Joe Biden…
Professor Teaches Students About Evil by Having Them Read Writings of Hitler’s Chief Propagandist
by Red State
A professor at the University of Austin ingeniously teaches students about “good and evil” by having them read the writings of some of the 20th century’s most evil people, including Adolf Hitler’s chief propagandist, Joseph Goebbels. Spoiler: I think it’s absolutely brilliant. Professor Marietta, who says Goebbels used “emotional appeal”…
Bombshell Lab Findings: Covid Jab Spike Proteins Likely Accelerate Cancer, Neurological Disorders, Dementia, Crohn’s, Lyme and More
by S.D. Wells, Natural News
(Natural News)—Back in February, U.S. Republican Senator Ron Johnson from Wisconsin held a roundtable discussion titled ‘Federal Health Agencies and the COVID Cartel: What Are They Hiding?’. In attendance at that forum was an internal medicine specialist and medical doctor named Sabine Hazan, who conducts and supervises clinical trials for cutting-edge…
Fan in MAGA Hat Denied Entry at Arizona Cardinals’ Home Stadium Unless She Threw It Away, Prompting Apology From Team
by The Blaze
The Arizona Cardinals organization has issued an apology after a fan was initially denied entry to the team’s home opener because she was wearing a Make America Great Again hat in support of the presidential candidacy of former President Donald Trump. On Sunday, thousands of football fans flocked to State…
New Report: State Department Funded Fact-Checkers to Censor ‘Lawful Speech’
by Michael Nevradakis Ph.D., The Defender
(The Defender)—The U.S. Department of State-funded domestic and international fact-checking entities that censored American independent media outlets and social media users who questioned the Biden administration’s COVID-19 and other policies, according to a congressional report. The report by the U.S. House of Representatives Committee on Small Business stated: “The Federal…
Springfield City Manager Admitted in March He’d ‘Heard’ About Haitian Migrants Eating ‘Domesticated Animals’
by The Post Millennial
A video from the Springfield City Commission meeting in March has resurfaced on Twitter, showing the Springfield, Ohio, City Manager Bryan Heck admitting that he had heard stories about Haitian immigrants to the town consuming “domesticated animals.” A resident of Springfield spoke to at the meeting and the City Manager,…
Did the Government Shield Diddy Like Epstein?
by Daily Wire
Some of the most revealing moments from the sordid saga of Jeffrey Epstein came when government officials were asked direct questions, then ducked them without any real explanation. Case in point: Five years ago, the Labor Secretary at the time, Alex Acosta, was speaking to reporters about his handling of…
Saudi Arabia Won’t Recognize Israel Without Palestinian State, Says Crown Prince
by End Times Headlines
Saudi Crown Prince Mohammed bin Salman on Wednesday said the kingdom would not recognize Israel without a Palestinian state and strongly condemned the “crimes of the Israeli occupation” against the Palestinian people. “The kingdom will not stop its tireless work towards the establishment of an independent Palestinian state with East…
Retired Border Patrol Chief Accuses Joe Biden, Kamala Harris of Attempting to Hide Mass Release of Migrants Into U.S.
by Breitbart
Retired Border Patrol Chief Aaron Heitke, who left his position at the Department of Homeland Security (DHS) in early 2023, says President Joe Biden and Vice President Kamala Harris’s administration has worked to hide the mass release of migrants into American communities. During a House Homeland Security Committee hearing on…
Less Than 50 Days Until Life in America Changes Forever, and Our Nation Is Primed for Massive Civil Unrest
by Michael Snyder
(The Economic Collapse Blog)—Years of extremely inflammatory rhetoric from the mainstream media and from many of our leaders have brought us to the brink of a societal nightmare. The numbers that I am about to share with you are horrifying, but it is so important for us to understand what…