Biden will seek to raise taxes on millionaire investors to fund education, childcare, and other spending priorities as part of the administration’s effort to overhaul the U.S. economy. He will seek an increase in the tax on capital gains to 39.6 percent from 37 percent for those Americans earning more than $1 million, according to multiple outlets. Reports said the president is expected to release the formal proposal next week to fund spending in the upcoming American Families Plan, expected to come in at around $1 trillion.
The American Families Plan is expected to include measures aimed at helping U.S. workers learn new skills, expand subsidies for childcare and make community college tuition free for all. The administration knows the American Family Plan will continue to grow and that taxing people who make $1,000,000 or more will not end there. Soon all Americans will be in for a rude awakening as the tax burden expands to everybody in some way shape or form.
Many people on the left are making the case for a greed problem among the wealthy. Is it their greed that drives this administration to punish wealthy Americans? One thing is clear, these “greedy” Americans have created an enormous number of jobs. It is the wealthy that create jobs and more wealth for others, whether it be through small businesses or huge corporations, yet this administration is determined to punish these men and women for their efforts. The real issue is that these socialists cannot live with our system. After all, it robs the politicians of the power that they believe rightfully belongs to them — those who have never created a job in their life or have responsibility for a payroll.
Are we all to just sit back and allow this administration to call what has made America great for over 245 years nothing more than greed while no one considers the real problem? The United States government continues to spend its way into bankruptcy with bloated budgets and ballooning departments filled with belligerent, power-hungry politicians who will never consider cutting the size of government, reducing spending, or creating cost saving measures that can make America healthier and stronger. Nobody seems to have the courage to fight for what is right.
The lack of accountability in our government is stunning. We allow politicians to hide behind smoke, mirrors, and distractions while they purposefully destroy our Godly heritage and shun our values. They work to keep right-minded Americans from the truth and the intentional destruction of our future with their inability to effectively manage spending, unnecessary growth of government, and irresponsible lack of fiscal policies.
The recklessness of the far left is moving so fast that the rest of the American public will soon be consumed by higher income taxes, the VAT tax, taxes on financial transactions, carbon taxes, tax on miles driven tax, capital gains, and estate taxes that second and third generation farmers will be forced to sell their land. When, because of their talking points, it becomes impossible to tax those making under $500,000 per year, they will simply institute fees on everything from appliance usage to your Zumba lessons.
With this all happening so quickly, we will have no choice but to live with a bloated government and watch them take more power, more control, and even ownership in areas they’ve never been before — giving us a socialist society that we will never again be free from. We will have to simply sit back and watch the destruction of America unfold before our eyes, as no one dares to step up and speak out against the size, cost and godlessness of our government. They are destroying America as we watch.
Dan Celia is president and CEO of Financial Issues Stewardship Ministries, Inc., and host of the nationally syndicated radio and television program “Financial Issues,” heard daily on more than 660 stations across the country, reaching millions of households on several TV networks, including FISM-TV. Visit www.financialissues.org.
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