A taxpayer-funded luxury apartment building is set to open in Los Angeles's Skid Row neighborhood to provide hundreds of homeless people with housing and high-end amenities.
The post Report: $165 Million Luxury Apartment Building to Open for Los Angeles Homeless Population appeared first on Breitbart.
Democrats in the California State legislature are getting pushback for a proposal that could benefit illegal aliens.
The post ‘Outrageous’: Reform California Chairman Roasts Democrats’ Bill Giving Illegals Taxpayer-Funded State Jobs appeared first on Breitbart.
The Canadian Radio, Television, and Telecommunications Commission (CRTC) on Tuesday announced that online streaming services such as Netflix, Hulu, and Amazon Prime will be required to “contribute” five percent of their Canadian revenue to funds for local broadcasting.
The post Canada Imposes 5% ‘Contribution’ on Netflix, Other Online Streamers to Pay for Local Broadcasting appeared first on Breitbart.
Illinois has passed its largest tax hikes in state history with nearly one billion in new taxes in a $53 billion budget. But the state has also dispersed nearly as much as the tax hike on migrant spending alone.
The post Illinois Senator: ‘We Raised Your Taxes $1 Billion Just to Spend on Migrants’ appeared first on Breitbart.
Migration out of Massachusetts has seen an alarming increase over the last decade as residents flee to Florida and other destinations.
The post Massachusetts Loses Billions in Adjusted Gross Income to Florida Migration appeared first on Breitbart.
Taxpayers are turning on the public funding of National Public Radio (NPR), according to the latest DailyMail.com/TIPP survey.
The post Poll: Taxpayers Turning on Funding NPR appeared first on Breitbart.
Cruise, the autonomous vehicle company backed by General Motors, has cautiously restarted its testing operations in Phoenix, Arizona, following a pedestrian-dragging incident in San Francisco that raised serious safety concerns.
The post Cruise Resumes Robotaxi Testing in Phoenix After Incident of Dragging Pedestrian Down San Francisco Street appeared first on Breitbart.
In today’s edition of Getting What You Vote For, the dummies in California are about to get hit with a 50-cent per gallon gas tax.
The post Nolte: Democrat-Run California About to Get Hit with 50 Cent per Gallon Gas Tax appeared first on Breitbart.
Joe Biden unveiled his 2025 budget proposal earlier today. In general, presidents’ budgets are hardly worth discussing. They project revenue and spending over the next ten years, and if you go back and look at them a few years later, they usually bear no relation to reality. And, in this instance, there is zero chance that Congress will pass anything resembling Biden’s budget, which can best be seen as a campaign document.
But, for what it is worth, this is what the Wall Street Journal had to say about it:
President Biden proposed Monday a $7.3 trillion budget for the next fiscal year that would raise taxes on wealthy people and large corporations, trim the deficit and lower the costs of prescription drugs, child care and housing.
Other than spending $7.3 trillion and raising taxes, it wouldn’t do any of those things. For purposes of comparison, federal spending in 2000, the last year of the Clinton administration, was $1.79 trillion. So Biden wants to spend almost exactly four times that much.
The fiscal 2025 budget would cut the deficit by $3 trillion over the next decade, and it would raise taxes by a net total of $4.9 trillion, or more than 7% above what the U.S. would collect without any policy changes.
Those hypothetical deficit cuts depend on economic forecasts in the out-years that won’t come true. The only meaningful fact is that Biden wants to raise taxes by nearly $5 trillion.
Biden’s purported budget is largely an exercise in fantasy:
The budget leaves some blank spaces. It lists principles for shoring up Social Security, without specifying a plan. It calls for paying for extensions of tax cuts for most households after 2025 but doesn’t detail how that would be paid for. And it calls for restoring the expanded child tax credit, but only temporarily, lumping that into the broader 2025 tax debate.
Biden’s budget proposes absurd taxes on corporations and “the rich”:
The budget repeats many past Biden tax-increase proposals, including higher tax rates on corporations and high-income individuals along with minimum taxes on the wealthiest Americans’ unrealized capital gains.
Which is insane. If the government taxes unrealized gains on unsold securities when the market goes up, will it write checks to investors when the market is down? Logically, it would have to, but of course that is not part of Biden’s proposal.
Biden rolled out several new tax increases last week, such as raising his new corporate alternative-minimum-tax rate to 21% from 15% and denying deductions when corporations pay any workers, not just top executives, more than $1 million.
The net effect of Biden’s proposals would be to give the United States one of the heaviest tax burdens in our history, equaled only once since World War II.
Is that because people are dying to give the federal government more money to waste? No, it is because many people are too naive to understand that, as has been said a million times, corporations don’t pay taxes, they collect them. Those taxes are actually paid mostly by customers (i.e., all of us) and secondarily by employees (i.e., most of us). But Biden’s budget is not about economics or, for that matter, mathematics, as the numbers will never add up. Rather, it is about politics:
Biden’s advisers are betting that a focus on lowering costs for families will help push the president to re-election.
Needless to say, Biden’s budget, if actually enacted, would raise costs for families, not lower them. Fortunately, there is zero chance of that happening.