Stay on the Low-SALT Diet

Biden continues his working-man charade while he hands out tax breaks to his Blue state donors.

Perhaps the surest sign of senility is when you start making things up. Joe Biden’s fanciful assertions in his State of the Union (SOTU) address are simply too numerous to mention, i.e., he wants to close the southern border after signing at last five executive orders on his first day in office to open it.¹

The ‘big guy’ who spent a lifetime in government (and profiting from it, legal and otherwise) proclaims, “Look, I’m a capitalist. If you want to make a million bucks – great! Just pay your fair share in taxes…the last administration enacted a $2 trillion tax cut that overwhelmingly benefits the very wealthy and the biggest corporations and exploded the federal deficit.²

My, my, where to start.

Obviously, the Biden administration’s embrace of central planning is almost legion by now. Federal EV mandates and subsidies; the SEC rearranging balance sheets based on climate change; ESG dictates that violate fiduciary responsibility; hiring by DEI quotas and, oh…almost $6 trillion added to the national debt which is now set to hit $50 trillion by 2033.³

Throw in a little lawsuit immunity for Big Tech’s addictive algorithms that have sadly coincided with teen loneliness and depression—or for that matter, for Big Pharma’s COVID-19 experimental vaccines—and you start to see how Biden’s favored industries come out just fine.⁴

Call it ‘industrial policy’ or what you will, but it ain’t capitalism.

And as to paying their fair share, the only people making out in Biden-world are, well, the Bidens. You can ask Hunter’s former ‘business partners,’ Tony Bobulinski, Devon Archer, James Gillar or Burisma and the Chinese energy company, CEFC.⁵

For the rest of the top 1% of American tax filers who earn about a quarter of the nation’s income, why, they’re paying 46% of the federal income tax under a Trump tax cut that Biden is desperate to undo.⁶ In contrast, the bottom 50% of taxpayers pay less than 2.5% of the income tax.⁷