12 May 2021

If It Makes You Nervous, Find a New Job

Arguably the most popular policies of  Joe Biden with the general public is raising taxes on the rich.

Even a majority of Republicans support raising taxes on the rich.

Still, it appears that this fantastically popular policy prescription is giving moderate Democrats the vapors, because they have nothing to offer but the ability raise money from rich people.

Seriously, soaking the rich is good policy and good policy, but these guys are so afraid of offending the money bags types they are useless:

President Biden’s desire to offset more than $4 trillion in spending proposals with higher taxes is struggling to gain momentum in Congress.

Pockets of skepticism have emerged within Biden’s party over White House plans to raise the corporate tax rate, revamp the international tax system and double tax rates on wealthy investors, among other measures critical to the administration’s plans. The party faces regional divides over taxes as well, with farm-state Democrats skittish about taxes on heirs and coastal Democrats demanding the repeal of limits on state and local tax deductions, which would amount to an expensive tax cut that would require higher taxes elsewhere.
Yes, these tremulous Democrats are determined to save tax breaks for rich folks.

………

The open-ended nature of the discussions has led to a bevy of ideas from Democrats and little clear progress toward a resolution. Democrats said some donors are anxious about the political ramifications of raising taxes before the midterms, especially given the party’s tough odds to hold onto the House. Rep. Sean Maloney (D-N.Y.), chair of the Democratic Congressional Campaign Committee responsible for party fundraising, has privately warned the tax plans could hurt vulnerable House Democrats up for reelection in 2022, said two people familiar with the matter, who spoke on the condition of anonymity to discuss internal matters.

It won't hurt anyway.

………

“The administration knows these taxes are very popular,” said Celinda Lake, a Democratic pollster who advised Biden’s campaign. “But Democrats in Congress are nervous from decades about being attacked as tax and spenders.”
When Bill Clinton created budget surpluses, and destroyed welfare, Democrats were attacked as tax and spenders.  It is going to happen anyway.

Living in fear of your own shadow is not is not living/

0 comments :

Post a Comment