Why should Hillary care about taxes? She’s worth hundreds of millions of dollars. The same is true of Warren Buffett. He’s worth $63 billion. $63 BILLION!
They’ve both approved a tax hike on the middle class.
“Hillary Clinton called for raising taxes on the ‘middle class’ while campaigning on Monday in Omaha, NE. Joined by left-wing Democrat billionaire Warren Buffett, she received applause from those in attendance.
“‘Because while Warren is standing up for a fairer tax code, Trump wants to cut taxes for the super-rich,’ said Clinton. ‘Well, we’re not going there, my friends. I’m telling you, right now — we’re going to write fairer rules for the middle class and we are going to raise taxes on the middle class!’”
Hillary Clinton wants to bankrupt the Middle Class with a tax hike so it will be more dependent on the Federal Government.
And the crowd cheered for her to use the power of government to steal more money!
Is it any surprise that billionaires are supporting Hillary? They’ve already made their money. They love big government. Many of them have become rich through leftist government programs.
The latest run up in the Stock Market is the result of trillions of dollars pumped into the economy by the Federal Reserve. Blackstone’s Byron Wien explains:
“The Federal Reserve was providing this stimulus to improve the growth of the economy, but it is my view that three-quarters of the money injected into the system through the purchase of bonds went into financial assets pushing stock prices up and keeping yields low. If I am right, the Fed contributed almost $3 trillion (some may have gone into bonds) to the $13 trillion rise in the stock market appreciation from the 2009 low to the current level, earnings increases explained $9 trillion (1.5 x $6 trillion) and other factors accounted for $1 trillion. You could argue that the monetary stimulus financed the multiple expansion in this cycle.” (Source)
Those earnings are the result of inflation – a funny-money increase in the money supply. There was no production of goods or real profits that created the money. It was entered into a computer as digital dollars and targeted to special interest groups. For example, Solyndra, a solar company that defaulted on a $535 million loan. The Department of Energy loaned $34 billion to various businesses. Where did the Department of Energy get the money? It was confiscated from taxpayers. There is nothing in the Constitution that says that our government can loan money to private companies for any reason.
There was a commercial for Smith Barney in the late 1970s that went like this:
“They make money the old fashioned way. They earn it.”
So not only will Hillary, the Democrats, and Establishment Republicans continue to devalue our money through inflation (increasing the money supply), but they will also take more of our hard-earned income through taxation.
The goal of government should always be to keep taxes and spending at the lowest constitutional levels. If the Constitution doesn’t mention it, our government should not be involved in it or taxing wages to fund it.