On the recordMarch 31, 2022
So in the President's proposal, in the Democrats' proposals, they want to tax the rich more. The new President Biden's budget, I think, has 36 new taxes in it. But here is the great irony. Okay. So they want to do this one tax where they want to functionally tax unrealized capital or unrealized gains which is the taking--it will be ruled unconstitutional. But it is an interesting concept. We want to make a simple proposal that something both Republicans and Democrats might agree upon, stop subsidizing the rich. We have come here to this floor a couple of times and shown there are $1.4 trillion every 10 years that the left subsidizes the rich. And so what do the Democrats do? They say: We need to tax the rich more. Okay. And then they put in Build Back Better you can make $800,000 a year and we are going to hand you $125,000 of tax credits--not tax deductions--credits. Does anyone see the lunacy going on here? So the virtue signaling is rich people aren't paying enough, and then over here we are going to give them 1 trillion-plus dollars in subsidies, and then they are going to add more in their Build Back Better for more rich people to have more subsidies. It is just infuriating. Does anyone actually read this stuff? Does anyone own a calculator? Mr. Speaker, you start to see the numbers.…
