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Biden’s Taxes
Sep. 15th, 2021 01:59 amI am once again reminded of the words of Bastiat, “The state is the great fiction by which everyone proposes to live at the expense of everyone else.” President Biden promised not to raise taxes on anyone making less than $400,000 per year, but Ira Stoll excoriates Biden and the Democrats for supporting tax increases on tobacco products and on corporations which will hit Americans making less money than that. This, I might add, in in addition to the implicit tax increases on us and our posterity imposed by huge additions to the national debt.
For my own part, I thought that the Biden administration was serious about not raising taxes on ordinary people, since this was a declared reason for opposing carbon taxes; instead, Biden wants other measures to fight global warming. I think there’s a good case for carbon taxes, which could be combined with carbon dividends to benefit the poor, or with reductions in other taxes. It seems, though, that the President’s scruples about keeping his campaign promise are selective.
For my own part, I thought that the Biden administration was serious about not raising taxes on ordinary people, since this was a declared reason for opposing carbon taxes; instead, Biden wants other measures to fight global warming. I think there’s a good case for carbon taxes, which could be combined with carbon dividends to benefit the poor, or with reductions in other taxes. It seems, though, that the President’s scruples about keeping his campaign promise are selective.
