All the pundits and so-called “experts” believe Joe Biden will be the Democrat Party nominee…Read More →
Chuck Schumer is in retreat.
As the clock ticks down to Election Day Democrats are worried.
And Chuck Schumer is quietly admitting defeat in a fight that Republicans never saw coming.
A centerpiece of Joe Biden’s campaign is a four trillion dollar tax increase.
This the largest tax increase in American history and twice as large as the tax increase Hillary Clinton proposed in 2016.
In a recent interview, Joe Biden falsely claimed he had the power to raise the corporate tax on day one in office.
In the 2017 Tax Cut and Jobs Act, the legislation cut the corporate tax rate to 21 percent.
This tax cut – as well as the rate cuts for individual Americans – fueled the economic boom America experienced until Democrat governors began shutting down the economy in a panic overreaction to the coronavirus.
But now as the polls tighten in the battleground states, Democrats are throwing cold water on the idea that they are socialist tax-and-spend liberals.
Chuck Schumer is the expected Majority Leader in waiting for the Democrats.
And none of the leaks about the Democrats’ upcoming plans would flow with Schumer’s blessing.
“Senate Democrats had suggested they could move quickly on the issue, but now say they are likely to delay stand-alone tax legislation if Democratic nominee Joe Biden is elected president and their party controls the House and Senate,” The Hill exclusively reported.
Instead, Democrats hinted that they would go for socialist spending bills on trillion-dollar bailouts.
“Some of those stimulus and relief bills could include tax incentives for clean energy infrastructure and strengthening the nation’s supply chain and domestic manufacturing base. Tax relief in the form of child tax credits and earned income tax credits for lower- and middle-income families are also on the table,” The Hill also exclusively reported.
Democrat senators were willing to go on the record and try to reassure the public that they would not try and strangle the American economy with four trillion dollars in new taxes as the nation tried to get off the mat from the coronavirus lockdowns.
“I think a tax bill can be made effective at a time when we think the economy will be sufficiently robust that some increase in taxes will have no detrimental effect,” Democrat Connecticut Senator Richard Blumenthal stated.
Even polls that show Joe Biden leading Donald Trump show the President holds the upper hand on the issue of the economy.
Polls show that in the 2020 election – like in every other election – the economy is the number one issue to voters.
Democrats are terrified that Joe Biden’s lurch to the left on the economy – his advisors are more Elizabeth Warren than Bill Clinton – will cripple the party’s chances of winning to total power this November.
(h/t Great American Daily)