Posts Tagged ‘tax hikes’

Tovarishch Gospozha was a very common honorific in the old Soviet Union.  Comrade madam would be a reasonable translation.  After a close examination of Kamala Harris’ campaign proposals, those few that have trickled out, I believe it would be quite appropriate to use that particular honorific when referring to her.  They are very much like the disastrous economic proposals that were all too common in the standard Soviet five year plan.

Price controls are one of the main pillars of Marxism.  It is no surprise that Kamala is planning on using them to fight the inflation caused by her and the rest of the Biden Regime. Trump: Kamala Harris Has Gone ‘Full Communist’ (townhall.com)

“In her speech yesterday, Kamala went full communist…she wants to destroy our country. After causing catastrophic inflation, Comrade Kamala announced that she wants to institute socialist price controls,” Trump said in Wilkes-Barre, Pennsylvania. 

“Never worked before. Never ever worked. This is the Maduro Plan, Venezuela…Maduro Plan of like, the old Soviet Union. They tried it. How did the Soviet Union work out?… It will cause rationing, hunger, and skyrocketing prices,” he added.

Price controls have failed spectacularly wherever they have been implemented, including here in the United States. Kamala Wants Price Controls, and It’s Not Because She Has “Good Intentions” | Mises Institute

A freeze on prices meant it was no longer profitable for many producers to bring products to markets. The supply of goods and services fell while prices rose. Prices accelerated into 1972 when the CPI rose 3.8 percent, followed by a CPI increase of 8.8 percent in 1973 and 12.2 percent in 1974. 

Price controls on food led to predictably disastrous results. Under Nixon’s price controls, farmers couldn’t sell chicken products at prices high enough to justify the cost of feeding the chickens. In the early 1970s, farmers killed over a million baby chicks. Similar problems occurred in the beef and pork industries with farmers sending pregnant sows to the slaughterhouse while dairy cows were butchered. 

With prices already being forced upward by the inflationary pressure of Nixon’s runaway government spending and abandonment of the dollar’s last link to gold, price controls pushed prices even higher. Price controls were a key factor in the 1970s economy, now notable for stagflation and crippling cost-of-living increases. 

This next proposal by Kamala Harris has destroyed the medical system in every country where it has been tried. Kamala Harris Wants To Impose A Soviet-Style Medical System (thefederalist.com)

Medicare for All would abolish all public and private insurance plans, except Indian Health Service and Tricare, replacing them with a single federal plan. A national health budget would dictate payments for both services and goods. Patients would pay nothing directly but a massive amount indirectly, as Medicare for All would be funded by taxes. Given the cost of Medicare for All, the tax burden could easily double for Americans. In Sweden, a cradle-to-grave socialist economy, the top tax rate is 52.2 percent.

The 2023 Medicare for All plan would cover most Americans. Harris intends to add approximately 11 million illegal entrants, at least initially. The Medicare for All bureaucracy would determine what care individuals get, when, by whom, where, and even if. Medical autonomy, the freedom to choose one’s care, would be nullified, just as in the United Kingdom’s single-payer system. 

Harris’ Medicare for All plan amounts to a centrally controlled economy — a market with no free-market forces. Without proper economic incentives, costs and spending rise without limit while service suffers, quality declines, and innovation ceases. Recall the wait lines in the U.S.S.R.’s centrally controlled economy.  

Only a true Marxist is economically challenged enough to beleive that raising taxes on businesses would lead to prosperity. Kamala Harris Targets American Businesses With Massive Tax Hike (breitbart.com)

Vice President Kamala Harris is gunning for businesses with a plan to hike taxes.

As part of her presidential campaign, Harris is pushing to hike the corporate tax rate to 28 percent, a move that critics say could hit the economy hard just as the country tries to steady itself.

Harris campaign spokesman James Singer confirmed the plan to NBC News, claiming—without evidence— that the tax increase is “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”

The hike could significantly weigh on economic growth and discourage investment inside the U.S. By raising the statutory rate higher than those of many other major economies, the tax could drive businesses abroad.

As a result of her tax increase the corporate tax rate in the United States would be the second highest in the developed would.  Her tax proposal would destroy the economy of the United States.