Let's actually walk through what this means. You are right now expecting that 17,200 or 17,400--there is a little dispute--the cut you are getting as an average couple in America in 9 years. Yea. Okay. Let's actually do that thing where we are going to tax everyone over $400,000. That cut now becomes 13,482. Remember, that is just on the first year. If you completely remove the cap and just tax every dime, without the dynamic score of how much of the economy you slowed down, the cut that average couple on Social Security is going to get is going to be approaching $11,000 a year. That is the Democrats' moral solution. Does anyone here own a calculator? Then let's actually go a little bit further. The hard left here says: Well, let's do the oligarch tax. You say, huh? This is a tax that is unconstitutional, and it is I think in front of the Supreme Court this coming year, where the Democrats' solution is: We know we have been lying to the public. We are not going to tell them that, but we are going to offer another tax proposal where the Democrats want to tax unearned capital gains. You say, huh? What is that? Well, you are rich. You have a building. You have a business. You have an asset here. You haven't sold it, but there are capital gains there. Every year, the government is going to come in and ask for part of it. If you are really rich, they might want 10 percent of it, but if you are only moderately rich, every year you might only have to pay 2 percent.…
On the recordSeptember 13, 2023
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