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The politicians in Washington, D.C. have long forgotten that the tax money collected by the Internal Revenue Service is your money. As a matter of fact, they resent you even questioning them. They know better what to do with the confiscatory taxes collected better than you do. That is why they continue the lie that corporations pay taxes. Jamie Dimon, Chairman and CEO of JP Morgan Chase, asserted in an interview that “just throwing money, it doesn’t work”. Alexandria Ocasio-Cortez was not amused.
Joe Biden’s Infrastructure Plan is not an infrastructure plan, as we know it. Our Nina wrote about this boondoggle and you can read her take here. Biden’s infrastructure bill is priced now at two trillion dollars and is rather, um, vague.
Here is Mumbles Joe telling you about his plan:
Yes, Joe, President Donald Trump did mention “Infrastructure Week” often. Since the spineless Republicans and vicious Democrats didn’t help him nothing got done. But, do you want to talk about the “shovel ready jobs” you and Barack wasted money on? Joe actually bragged last July that he managed the eight hundred million dollar shovel ready jobs under Barack. Where did the 800 million dollars go, Joe. If it worked, why do we need two trillion dollars now? How dare we peons ask questions about our tax money.
Jamie Dimon, rightly, made the following comments at an Investment Company Institutes’ General Membership Meeting:
“Just throwing money, it doesn’t work,” Dimon said in an interview posted Thursday for the Investment Company Institute’s general membership meeting. “We already waste tremendous sums of money.”
Asked about raising taxes, Dimon said he would want an itemized list on what they would go toward. U.S. President Joe Biden has proposed trillions of dollars in spending on infrastructure and social projects to be paid for with tax increases on the wealthy.
“On highways, how many miles are you going to build, how much is it going to cost, when’s it going to get done, who’s responsible?” he said. On education, he doesn’t think that “free community college” is precise enough. “How many kids are going to graduate, how many kids are going to have a job at $65,000 a year?”
Jamie Dimon is paid thirty-one million dollars a year by JP Morgan Chase. He pays quite a few bucks in taxes. He is right to ask how his tax money is going to be spent. Well, not according to that well-known genius, Alexandria Ocasio-Cortex:
That’s funny, because Jamie Dimon didn’t give working people an itemized list of the school districts, public hospitals, infrastructure, or affordable housing projects he was helping defund when he pushed for the $2T GOP Tax Scam in 2017 w/ goodies for yacht and jet owners.
🤷🏽♀️ https://t.co/ecBOBaRmmA
— Alexandria Ocasio-Cortez (@AOC) May 6, 2021
Poor AOC, despite that fact that she studied Economics in college, she is an economic illiterate. The 2017 Tax Bill cut corporate rates from 35% to 21%. Since corporations don’t pay taxes, but only collect them, the rate should be zero. Corporate taxes are a regressive tax that affect every citizen. Furthermore, Investopedia has the following:
The law retained the old structure of seven individual income tax brackets, but in most cases, it lowered the rates. The top rate fell from 39.6% to 37%, while the 33% bracket dropped to 32%, the 28% bracket to 24%, the 25% bracket to 22%, and the 15% bracket to 12%.10 The lowest bracket remained at 10%, and the 35% bracket was also unchanged. The income bands that the new rates applied to are lower, compared to 2018 brackets under current law, for the five highest brackets.
In other words, working men and women and blue collar workers got to keep more of their own money. That’s bad, according to the elitists in the District of Columbia.
Like Jamie Dimon, I want to know how our tax money is being spent. Which roads and which bridges? Which states and counties will get the money and who will decide? Throwing money at a problem is never a good idea. It does not work. It never has. We are broke. We are saddling our unborn grandchildren and their grandchildren with debt. We have a right to know. We should ask the questions. Demand that those nimrods in D.C. give you the answers.
Featured Image: DonkeyHotey/Flickr.com/cropped/Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)
mer says: “…more of their own money. …”
RIght there is the crux of it all.
Ask a politician “Who’s money is it?” and the answer is very telling.
“Doing everything you can to legally minimize your tax payment to the Government” and you are accused of “Cheating the Government out of it’s money”.
That is the fundamental issue with people like AOC. I go to work I get paid. AOC point of view is Government has first right to my paycheck, not me.
Until more people understand “getting a huge tax refund is not a good thing”, we’re up a creek without paddle.
— In other words, working men and women and blue collar workers got to keep more of their own money. That’s bad, according to the elitists in the District of Columbia. —
I seem to recall an episode in which Bill Clinton, then the president of these United States, defended his huge tax increase by telling a wide-eyed, open-mouthed audience that he’d have liked to leave that money in the hands of the people who earned it, but that “you won’t spend it right.” That was Clinton — a supposed fiscal moderate.
[…] we all know what a Democrat’s laser focus is: print and spend more money. Let’s just keep dumping money into the economy – what could possibly go […]
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