Well, it’s the third Saturday in October, and if you know anything about SEC football, that means one thing: Tennessee Volunteers vs Alabama Crimson Tide. I am still in amazement at the Vols win at Auburn last week. However, the #1 Crimson Tide is rolling into Knoxville, and the odds are not in our favor. I’m only hoping that we can potentially be competitive through three quarters, and not get taken to the woodshed in the first half. Now, some of you may say that ain’t hope, it’s fools gold, stupid, or crazy. Perhaps, but a Vol for life sticks by his Tennessee Vols, regardless. And, one day, again, the odds may just be in our favor as Tennessee football regains its prominence.
But, I gotta tell ya about something that really is stupid, and far more important than a college football game. The progressive socialists are talking about economics, especially tax policy. Earlier this week I wrote about the real “Know-Nothing Party,” and, thanks to the junior Senator from California, Kamala Harris, that assertion is once again confirmed.
As reported by Fox News:
“Sen. Kamala Harris, D-Calif., is proposing a new tax credit of up to $500 a month, or $6,000 a year, for families earning less than $100,000 a year — as Democrats search for a counter-message to President Trump’s tax cuts ahead of the November midterms and the 2020 presidential election.
Harris, who is widely seen as a likely 2020 Democratic presidential contender, is proposing legislation that would offer $6,000 to families earning under $100,000 a year, and $3,000 a year for single filers earning under $50,000. The twist on Harris’ proposal is that the money could be accessed either at the end of the year or in monthly chunks of up to $500 a month.
Harris’ office cited a survey that said a majority of Americans don’t have enough cash on hand to cover an unexpected expense like a rent increase or a medical bill.
“Americans are working harder than ever but stagnant wages mean they can’t keep up with cost of living increases,” Harris said in a statement. “We should put money back into the pockets of American families to address rising costs of childcare, housing, tuition, and other expenses. Our tax code should reflect our values and instead of more tax breaks for the top 1 percent and corporations, we should be lifting up millions of American families.”
Harris’ proposal is an example of the balance Democrats will have to find in proposing countermeasures to Trump’s tax cuts, which are unpopular with Democrats but are seen by Republicans as the impetus behind the healthy state of the U.S. economy. Trump has repeatedly warned voters that Democrats want to raise taxes ahead of the November midterms and reverse the gains in the economy under his presidency.
The Atlantic, which first reported on Harris’ plan, estimated it would cost approximately $200 billion a year, while Politico reported that it would be financed by repealing the parts of the Trump tax cuts that benefit those earning more than $100,000, as well as a new bank tax on institutions with more than $50 million in assets. The outlet also noted that it would increase the number of Americans who are effectively excused from paying income taxes, currently around 44 percent.”
Yes, Sen. Kamala Harris gets our “Know-Nothing” recognition for this week. Consider the absurdity of this proposal: Sen. Harris wants to make us believe that she is really serious about “tax credits.” What she, and the progressive, socialist left, have done is rename the idiocy of “universal basic income” as a tax credit. Y’all know, that really dumb idea to just give folks $500-$600 in cash a month to “cover” expenses.
So, hmm, let’s see, Medicare for all is about a $32T price tag, and now we have another “freebie” from the leftists . . . but at least it is only a $200B a year price tag, which, over a ten-year budget cycle, puts it into the trillions as well. How do we pay for it? Wait for it . . . yep, we raise taxes on those pesky mean ol’ one-percenters and financial institutions. This proposal comes just as the was US named #1 in the world this past week, for competitive economic growth. Ahh, leave it up to a California progressive socialist to come up with a “stupid is as stupid does” idea when our economy is on fire.
How utterly perplexing that Sen. Harris would say “we should put money back into the pockets of American families . . . ” Well, the Trump tax cuts did exactly that — to the tune of $2000-$3000 — and her California Comrade Pelosi referred to it as “crumbs.” The same Pelosi who lauded Barack Obama’s payroll tax cut that gave American families back $60.
Now, if Sen. Kamala Harris were competent, and not so intellectually dishonest, she would talk about tax cuts on the individual side. I would agree with her on that principle. If she were to crack open a book on free market economics, and put down that crack pipe socialist, Keynesian, Marxist theory on economics, she would not be embarrassing herself, and be the brunt of this missive.
How about this Kammy: let’s take the insidious 7 individual tax brackets, and condense them down to four — 10 percent, 15 percent, 20 percent, and 25 percent. Everyone pays into the system so that we can no longer have folks like you using the tax code as a weapon of mass destruction to redistribute wealth. With the top individual rate being 25 percent, our small business owners will be aligned with the corporate business tax rate that was reduced from 35 percent, and we could designate the top small business owner rate at 21 percent, also. We can then reduce — perhaps eliminate — most of the individual tax deductions. I prefer keeping mortgage interest, and charitable contributions.
Kammy, we do not need you coming up with these hair-brained ideas that manipulate language to reach the same end game: wealth redistribution. But, hey, good try. Your folly certainly works on those who are, well, followers of the “Know-Nothing Party,” aka the Mobocrats.
What really needs to happen on Capitol Hill is that they get their crazy spending under control. That is something President Trump recognizes, and he has proposed that the executive branch agencies enact a 5 percent cut in each budget cycle year. That’s a proposal we do not expect will gain any momentum in Congress. Another proposal would be for our Congress to move away from the baseline budget system that increases government spending each budget cycle. They need to institute a zero-based budgeting system that forces a review of every single spending program. We all know that it would take divine intervention to end a government spending program but with a debt of almost $22T, the time has come.
What Sen. Kamala Harris is seeking to do is what the left always endeavors to implement, a gimme program, an entitlement. Sadly, there are enough lemmings — or as Vladmir Lenin said, “useful idiots,” — who would prefer to be economically enslaved than economically empowered. The policies of the progressive socialist left have proven time and time again to be failures. But, ya gotta give it to ’em, they can market bad ideas like no one’s business . . . and that is what ol’ Kalifornia Kammy is trying to do.
Just ask yourselves, how in the heck do you give a tax credit to folks who end up not paying taxes? It’s just another case of “stupid is as stupid does.” As the drill sergeants say in the military, You can’t fix stupid, all you can do is try and keep it from spreading.”
The progressive socialist left in America is spreading stupid like peanut butter.
During his 22 year career in the United States Army, Lieutenant Colonel West served in several combat zones and received many honors including a Bronze Star, three Meritorious Service Medals, three Army Commendation Medals, one with Valor device, and a Valorous Unit Award.
In November of 2010, Allen was elected to the United States Congress, representing Florida’s 22nd District.
He is a Fox News Contributor, Director of the Booker T. Washington Initiative at the Texas Public Policy Foundation, Senior Fellow at the Media Research Center, contributing columnist for Townhall.com, and author of Guardian of the Republic: An American Ronin’s Journey to Family, Faith and Freedom, and, Hold Texas, Hold the Nation: Victory or Death, published October 16, 2018, from Brown Books Publishing Group.