This is what Kamala wants to do…God help us all.<\/p>\n
\u2022Higher taxes to make \u201ccorporations and the wealthiest Americans pay their fair share.\u201d<\/strong> Without defining \u201cfair,\u201d she endorses the $5 trillion in tax hikes in Mr. Biden\u2019s budget, including a 25% tax on the unrealized capital gains on top earners. As far as we can tell, she differs from the President only in calling for a 33% top capital gains rate instead of 44.6%. She calls these \u201ccommonsense tax reforms,\u201d though they\u2019d be the biggest tax hike in history.<\/p>\n \u2022New and bigger entitlements<\/strong>. She\u2019ll need all those taxes to finance all of her new spending. She wants to revive the Build Back Better plan that failed in the Democratic Senate to support entitlements for child care, preschool, long-term care and paid leave. No costs attached, but figure it in the trillions.<\/p>\n \u2022More transfer payments<\/strong>, including a restoration of the March 2021 Covid bill\u2019s $3,600 child tax credit, a new $6,000 credit for families with newborns, and tripling the earned income tax credit for childless adults. She calls all these \u201ctax cuts,\u201d but they are income redistribution through the tax code and welfare since they go to people who don\u2019t pay taxes.<\/p>\n \u2022More housing subsidies<\/strong>, including an \u201chistoric expansion\u201d of the low-income housing tax credit, a \u201cfirst-ever tax incentive for building affordable homes for first-time homebuyers\u201d and a $40 billion \u201clocal innovation fund for housing expansion.\u201d<\/p>\n Such government subsidies would be conditioned on rules that require localities to \u201ccut red tape\u201d and developers to employ \u201cinnovative building and construction techniques.\u201d This is a euphemism for putting the feds in control of local zoning and building codes<\/strong>. Will new homes have to come with solar panels as they must in California?<\/p>\n She also proposes a $25,000 grant for first-time homebuyers, which would fuel increased demand and higher prices.<\/strong> Unmentioned but not forgotten is her proposal to use the tax code to impose nationwide rent control,<\/strong> though she expressly threatens to use antitrust action against landlords who \u201cdramatically raise rents.\u201d<\/p>\n \u2022More student loan forgiveness<\/strong>. Her euphemism for this is to \u201cend the unreasonable burden of student loan debt.\u201d<\/p>\n \u2022More government control of healthcare.<\/strong> She\u2019d expand and make permanent the Inflation Reduction Act\u2019s (IRA) sweetened ObamaCare subsidies, which are set to expire in 2025. Millions enrolled in ObamaCare plans pay no premiums owing to the subsidies, which average about $6,000.<\/p>\n ObamaCare plans are tightly regulated, which has reduced choice and competition. She wants to do the same to employer plans in part by imposing a $2,000 cap on their out-of-pocket drug costs. The result will be higher premiums. She also proposes to \u201caccelerate\u201d the IRA\u2019s Medicare drug price controls, which will slow bio-pharmaceutical innovation.<\/p>\n \u2022More industrial policy. She proposes funding small business with \u201clow- or zero-interest loans,\u201d beyond what the Small Business Administration already does. She also wants $100 billion in tax credits for investment in data centers, semiconductors, biotechnology and \u201csustainable materials\u201d that would \u201creward\u201d businesses that use union labor and locate plants in \u201clongstanding manufacturing, farming, and energy communities.\u201d That is, where Democrats can pass out favors to businesses and interests that support them.<\/strong><\/p>\n \u2022Price controls.<\/strong> She will \u201crevitalize competition\u201d by \u201cinvestigating and prosecuting price-fixing\u201d and passing \u201cthe first-ever federal ban on price gouging\u201d for groceries. This means Elizabeth Warren acolytes in her Administration will dictate egg prices in Racine, Wis.<\/p>\n \u2022More union gifts<\/strong>. She promises to \u201cprevent misclassification of employees, and override so-called \u2018right-to-work\u2019 laws that prevent workers from freely organizing.\u201d Where\u2019s the media misinformation police? State right-to-work laws give workers a choice of whether to belong to unions. Her labor model is California, which has banned most freelance work.<\/p>\n \u2022More green-energy largesse.<\/strong> She wants to \u201cbuild on efforts\u201d in the IRA to \u201clower energy costs\u201d and ensure \u201cthat we never again have to rely on foreign oil\u201d\u2014i.e., more subsidies<\/strong> for solar panels and EVs on top of the $1.2 trillion already in the IRA pipeline.<\/p>\n And yes, she will ban fracking and drilling when and where she can.\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" This is what Kamala wants to do…God help us all. \u2022Higher taxes to make \u201ccorporations and the wealthiest Americans pay their fair share.\u201d Without defining \u201cfair,\u201d she endorses the $5 trillion in tax hikes in Mr. Biden\u2019s budget, including a 25% tax on the unrealized capital gains on top earners. As far as we can tell, she differs\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2221","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/posts\/2221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/comments?post=2221"}],"version-history":[{"count":1,"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/posts\/2221\/revisions"}],"predecessor-version":[{"id":2222,"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/posts\/2221\/revisions\/2222"}],"wp:attachment":[{"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/media?parent=2221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/categories?post=2221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roxnoil.com\/wpadmin\/index.php\/wp-json\/wp\/v2\/tags?post=2221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}