There has been a lot of backseat quarterbacking and pontificating as to why Kamala Harris and the Democrats got their butts handed to them in the 2024 General Election 2 months ago. People blame Kamala Harris, people blame Joe Biden, people blame Nancy Pelosi and Chuck Schumer as the powerbrokers of the Democratic Party, but they are all missing the elephant in the room.
The fact is the top 1% most affluent Americans, which includes 1.5 million tax returns with adjusted gross incomes (AGI) above $663,000, make up 22.4% of the country’s total reported earnings. And yet, their share of income tax paid is nearly double that at 40.4%. This is according to multiple sources including the Wall Street Journal.
President Joe Biden, and vice president Kamala Harris who would come to replace him as the Democratic candidate for the presidency 107 days before the election, are idiots. The long-time cognitive decline of Biden has been in the news a lot lately after a Wall Street Journal report of several weeks ago.
“SHOCKING! Report Reveals MAJOR COVER-UP On Biden’s Mental Decline: WSJ”
But that news didn’t let vice president Kamala Harris off the hook when it comes to mental acuity either.
“Kamala Harris is a ‘low-IQ wine mom’” – Sky News Australia
So America wants to, and has a right to, know; who has really been running the country the last 4 years behind the scenes of these two puppet talking heads?
When it comes to the ideals of socialism and taking from the high achievers to give to the low achievers, you only have to go back to the Obama’s to get your answer of who has been in the ears of Biden and Harris.
Michele Obama once said “The truth is, in order to get things like universal health care and a revamped education system, then someone is going to have to give up a piece of their pie so that someone else can have more.”
This was 2011 and this was the Obama’s public admission they are socialists.This was a significant moment in history. This was Michelle Obama exposing herself and many other Democrats as hypocrites. After all, socialism is nothing more than a Ponzi scheme.
For example; The Obama’s net worth today is estimated to be around $70 million today. They own 4 luxury properties:
- Washington DC home bought for $8.1M
- Martha’s Vineyard home bought for $11.75M
- Beachfront home in Hawaii bought for $8.7M
- Chicago home bought for $1.65M
In 2004, when Barack was running to become an Illinois senator, they had a net worth of around $300 thousand. There is no legitimate way these two could have multiplied their net worth 23 times, given Barack’s public servant income, in 20 years. Keep in mind, the Illinois Bar Association set both of their law licenses aside many years ago for reasons unknown, which means neither of them is a lawyer.
A common story in Illinois was:
“Barack Obama surrendered his law license back in 2008 to escape charges of lying on his bar application.
Michelle Obama voluntarily surrendered her law license in 1993 after a Federal judge gave her a choice between surrendering her license, or standing trial for insurance fraud.”
It is not known if these accounts are true or not (they sealed all of their records) but what is true is these two are no longer lawyers and lawyers are known for being able to make large sums of money in short amounts of time.
So just how did Michelle and Barack amass such a big “pie” in 20 years? We may never know.
CONCLUSION:
When I was born in the 1950’s there were no billionaires but multimillionaires were becoming more common. Back then the top federal income tax rate was 91% but few in that top 1% were subject to it. Ironically the Democrat Kennedy family pushed to change that tax code. They were some of the very few millionaires in DC back then.
This offers proof positive that today’s “tax and spend” socialist Democrats are not the same as the patriotic Democrats of yesteryear.
The fact is Americans agree they do not want socialism and that is what today’s Democrats are. Today’s Democrats want to tax the “makers” to create an entire new generation of government dependent “takers”.
All the proof you need is the example of Joe Biden and Kamala Harris’ college loan payoff giveaway program. They tried to pull this off as an obvious scam to buy votes using taxpayer dollars to the point the SCOTUS had to tell them to knock it off! Paying reparations is yet another example of socialist Democrat grift, as well as divisive race-baiting. Most of America cannot trace their roots back to slavery much less the Civil War. We are a nation of immigrants who immigrated here after the Civil War and the end of slavery in America.
The Democrats remain tone-deaf on their messaging. I knew as soon as Joe Biden used the term “billionaire” he had done in his chances of a second term. Names like Musk, Kennedy, Bezos, Zuckerberg, and Gates are all coming around to Trump now either overtly or covertly. (While Bezos may not have had a sit down visit with Trump as of yet, he did kill a Washington Post endorsement of Kamala Harris before the election.)
Why?
Because these people didn’t become billionaires by being stupid with money and our Federal government has proven itself very stupid with money, largely because of today’s Democrats!
Elon Musk has suggested a revision of the income tax code to grossly simplify it while President Donald Trump has suggested doing away with Federal income tax entirely.
“Economist says it’s been ‘glorious’ watching Trump attack income tax” – FOX Business
Progressive liberal Democrats often push for a progressive income tax whereby the more one makes, the more they pay in tax. Conservative Republicans often push for a flat tax whereby everybody agrees to pay the same amount. Both ideas have merit but oppose each other.
The average income tax on Americans now is said to be around 24% but it has been going up. Then again, the average amount of income has been going up as well so the one could be offsetting the other.
Bottom line, Democrats still have yet to learn American taxpayers have had it with their socialist Robin Hood act.
Biden meant to attack the billionaire Trump family as a political strategy without realizing there are a lot of other American billionaires besides the Trump’s. What a buffoon!
The real reason the Democrats lost the 2024 elections is Americans hate socialism and that is was what the Democrats brought to the table in 2024.
Americans want the freebee giveaway programs stopped and our national debt reduced as PRIORITY ONE!
I just learned yesterday Southern California (SOCAL) gave away firetrucks to Ukraine a short time ago. This is a prime example of liberal Democrats being stupid with taxpayer dollars!
© 2024 by Mark S. Schwendau
