Silicon Valley Billionaire Sounds The Alarm; Biden’s Tax Plan Is About To Wreck Havoc
by Jonathan Davis
Without any doubt, raising taxes on Americans makes them poorer and never better off, regardless of the justification behind the levy.
But taxes can also be — and have been — used in a punitive way to punish success and reward favored political constituencies.
The Democrats are experts at the latter.
For a half-century, Democrats, when they’ve had enough power to do so, built a ‘progressive’ tax structure that prohibited growth and shunted innovation as individuals and corporations alike were kept from realizing their fullest potential.
Donald Trump and Republicans reversed that trend in 2017 with the biggest tax cuts and reforms in a generation. We saw the results: Lower taxes, especially on job-creating corporations, resulted in massive growth and an explosion of domestic investment, driving down unemployment to below 4 percent, lifting all socio-economic boats, and allowed every demographic to become better off.
That was then. Now the Democrats are back in charge again and because they worship big government and prefer their subjects to be servile, obedient, and dependent, they are eying some hefty tax increases that will undo everything put in place by Trump and the GOP.
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