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Rich Democrats Finally Wake Up To Woke Joe

They don’t want to lose more money from taxes.

Yeah, I mean, I really don’t know what to tell people on this one. This isn’t a shock. This isn’t some upset you couldn’t see coming. This is not like the iceberg that struck the Titanic, which was never seen. This event was provisioned. It’s been a given ever since Democrats decided to crush us with tax policy and hate the job-creating and investing class. Joe Biden was going to raise taxes—by a lot. It was no secret. It was out there in the open—for months. Also, again, he’s a Democrat; these people love jacking up the taxes. The last time a Democratic president actually cut anything tax-related in recent memory was Bill Clinton—who cut capital gains taxes. Something that no Democrat can even mention, even behind closed doors, unless they want Alexandria Ocasio-Cortez and her squad gunning for them.

So, for the rich folks who backed Biden and are now upset about the recent proposal President Depends mentioned this week that tanked the markets, all I can say is play stupid games, win stupid prizes (via Bloomberg):

Charles Myers was sitting in a first-class seat on a flight from New York to Dallas when his phone started blowing up Thursday. News had just broken that the wealthiest Americans could soon face a tax rate as high as 43.4% on gains from their investments.
The chairman of Signum Global Advisors wasn’t thrilled.
“Raising capital gains taxes hurts the capital markets,” he said in a text message. “Better to raise the personal top marginal rate and estate tax. Leave capital gains and dividends alone.”
Myers has raised funds for Joe Biden, and wasn’t shocked by the White House’s plan because it was part of the president’s campaign. But the donor doesn’t think that 43.4% rate will make it into final legislation.
As the plane descended, he added: “Over-taxing success is un-American.”
[…]
Billionaire venture capitalist Tim Draper isn’t persuaded. He said raising federal rates to as high as 43.4% would sound the death knell for Silicon Valley and American job creation.

A similar sentiment was echoed by Michael Sonnenfeldt, founder and chairman of Tiger 21, a network of wealthy entrepreneurs, investors and executives with an average of $100 million in assets.
“When you raise taxes dramatically you create disincentives so that people hang on to assets longer than they might have to avoid a high capital gains tax,” he said. “That capital might have been better deployed in the next business that will create jobs.”
[…]
Veteran venture capitalist Alan Patricof, who has also raised funds for Biden, said the latest plan would be nothing short of a “philosophical reversal” of the landscape that has prevailed for decades.
It would “turn on its head the concept of incentivizing individuals to invest in companies using their capital with a preferential tax rate,” he said. But Patricof is trying not to get too worked up about it, for the time being. “Let’s see what the actual proposal looks like before making a judgment.”
U.S. stocks fell by the most in five weeks on news of Biden’s proposal…

I mean, no kidding, fellas. Tax hikes kill job creation and growth—how revolutionary. At the same time, we have to put things into perspective. The people doing the bellyaching in this piece are going to be just fine. We have a “complaining with two loaves of bread under your arms” situation. That doesn’t mean they’re not wrong, but I doubt their lifestyles will plummet to the point where they’re living out of cardboard boxes like Randolph and Mortimer Duke from “Trading Places.”

In the end, we all knew Biden’s economic agenda was going to be a retread of Obama’s regarding anemic growth. It’s a bit worse now with the Green New Deal and other left-wing initiatives being tossed around by the party’s most progressive and radical fringes. And we all know Joe can’t handle the pressure from these people. Look how easily he caved on caps for refugees; he’ll fold even quicker on taxes.

H/T Logan Hall

Sources: TownHall: It’s Not Like We Didn’t Tell You, Folks: Rich People Angered Over Biden’s Proposed Tax Hikes

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Written by Joshua Jackson

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  1. He’ll fold quicker than a PAPER Airplane . . . He’s a DEMOCRAT – What did you EXPECT?!? One Enlightened Patriot. Team Trump And His Allies 2020 – MAGA (WE’RE NOT going away!).

  2. I guess all those rich people can complain now. I wonder why as they hated Trump and his tax cuts. Now they get to complain about Bidens tax hicks.

  3. Well you got what you wanted people. Now maybe you finally figure out that you actually put a criminal in the white house and he will come after you as much as he is coming after us poor slobs. But you can always take your money and companies to other countries where we are stuck here to work pay taxes, shut up and support the illegals that are the democratic voters to assure the dems always stay on power. Millions are here and millions more are coming. So are more criminals, diseases, drugs, gangs, and of course weapons. You have handcuffed the police so now protect yourselves you liberals.

  4. Even a dummy like me knows, the easiest way for a politician to tax every American, without being open about it, is an increased Tax on the “Unfair Big businesses”. Any tax on business will be passed along to consumers. Therefore The Big Business is being used as a collection agency for a total population tax increase.

  5. So they’ll move to a red state with lower taxes and still vote democrat. Stay where you’re at and vote to change your own state!

  6. I agree that people fleeing from blue states into red states had better realize they are going to have to vote Republican or end up in the same mess that they are fleeing from.

  7. We already have taxation without representation, now they simply want to throw off the smoke and just steal it. Anyone who thinks it will be the fat cats and politicians who feel pain, think again. Anyone who has any kind of savings or is retired and depends on dividends and interest to supplement SS needs to get themselves acclimated to canned dog food, because it’s coming.

  8. Stupid is, as stupid does. ANYBODY with even a lick of sense, knew that this idiot should never have been running. And if they had of kept the election fair, and not flooded the voting with fraudulent votes, he wouldn’t be in office to wreak havoc on our country! He started the destruction of America on the first week he was in office, and has continued to this day. The people of America, who these jackasses work for, should have the right to remove them from office!!!!

  9. YOU PUT HIM IN!!!
    Live with the chinese stooge, the senile moron, the absolutely corrupted to the core political wind-vane!
    Then you helped put a “absolutely corrupt “peripateticienne” as a VP.
    You knew??? what you were doing???
    No???
    PRESIDENT TRUMP always helped the capitalist! You helped throw THE REAL PRESIDENT OUT.
    Pay the price, aholes!

  10. Rich or living some where in between pay -check to pay-check Biden’s sick economic agenda spells
    vile consequences for all Americans. As a patriotic American I ask all of you that thought that Biden/Harris was a great pair to run America , didn’t you read or listen to what they they were going to do? I knew what they would do because I followed their sometimes candid misinformation and their absurdity about how bad America is. Their motto was “Build Back Better” slogan alludes to tearing America down in order to build America the way that the Socialist wants it to be . How can we start to gain back what we have already given to Biden/Harris dubious plan? First turn back to God that gave us this land of” milk and honey ” .We must call upon God to forgive us of our sins and repent right now before the time has passed that God has at last decided that we are so evil that He will destroy the world by fire . God will do this because America has moved away from God , because is in the same place He has always been . America has moved in the wrong direction ! We can decide to change our minds !

  11. Biden does not know how to be a president. All he knows is what Obama did as president and he was vice president. His stupidity is right and front for everyone to see and the world is treating him like a kindergartner because he has such a low IQ. What a waste of a human being.

  12. JObama will keep throwing stuff against the wall to see if it sticks. He hasn’t had an original thought or idea in his life.

  13. Yea lol now that yall found out old joe is going to cost yall millons , now yall turn on old joe lol . What the hell were you thinking befor knowing old joe will cost you lots ??? 47 years of biden crime family corruption and now you see the light ??? Are you retarded ??? Did someone hit you over the head with a big rock and now you see the light at the end of the tunnel ??? Old joe didn’t change so what the hell were you thinking . You cant make this stupid shit up …. what the hel, we’re they thinking ???

  14. Personally, I think anyone who has more than $500,000.00 per year income is stealing from the common person. These thieves should be taxed for all and anything over $500,000.00 income weather from investments or personal income. Bill Gates, and all Hollywood pervert also must give up their extended wealth to the people. As an actress, I seen the monies these people spend on drugs, and their toys.. It is obscene and must not b e tolerated.

  15. COMMUNIST Joe Biden. Is a idiot that should be in prison and in front of a firing Squad along with histamine RHINOS. Ignore these COMMUNIST.down to the letter.

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