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Just how much of the money you earned do you deserve to keep? Pat Buchanan breaks down the Democrats’ plans to leave New Yorkers with “less than a dime of every added dollar they earn.” Does that sound like America to you? Pat writes in The American Conservative (abridged):
If the pollsters at CNN and CBS are correct, Donald Trump may have found the formula for winning a second term in 2020.
His State of the Union address, say the two networks, was met with the approval of 76 percent of all viewers—97 percent of Republicans, 82 percent of independents, and 30 percent of Democrats. Seventy-two percent agreed with the president’s plans for securing the border with Mexico.
Trump was not only unapologetic in defense of his wall. He seemed to relish savaging the rising radicalism of Democrats on two critical issues many of them have seized upon since their 2018 triumph: abortion on demand, right up to the day of birth, and soak-the-rich socialism.
Some Democrats have called for an 80 percent federal tax rate. New Yorkers who earn $1 million a year would be allowed to keep less than a dime of every added dollar they earn.
As California and New York City have state and local tax rates of 12 percent that are no longer deductible on federal taxes, their most successful residents could be forced to fork over four fifths of their income every year in taxes.
Sanders would impose a 45 percent tax on all estates over $3.5 million, rising to 77 percent on estates worth $1 billion.
Says Bloomberg(Michael): “If you want to look at a system that is not capitalistic, just take a look at what was perhaps the wealthiest country in the world and today people are starving to death. It’s called Venezuela.”
Democrats have also embraced the cause of Medicare-for-all.
Asked how private health companies that now insure 177 million people would fare under her health care system, Senator Kamala Harris was dismissive: “Let’s eliminate all of that. Let’s move on.”
Read more here.
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