Democrats are set to blow past yet another arbitrary deadline in their misguided quest to jam through their reckless tax and spending spree. The sticking point this time is a tax hike on U.S. job creators. Some Democrats believed this tax hike was the solution to their problems, but other Democrats quickly threw cold water on the idea.
As soon as Democrats rolled out the idea, Congress’s top tax-writer warned that “the billionaires’ tax may be more difficult to implement.” He added, “All the proposals that I’ve seen so far not only don’t simplify the tax code, they make it more complicated.” House Budget Chairman John Yarmuth joined in on the criticism, “To think of it as a revenue raiser, you’re trying to predict the stock market.”
Over in the Senate, Joe Manchin – who is a key vote in passing Chuck Schumer’s socialist agenda – dismissed the latest tax proposal as a non-starter.
If Democrats claim their reckless spending spree costs nothing, why are they scrambling to find ways to hike taxes on U.S. job creators?