No More Welfare for the Rich

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Unleash Prosperity Hotline
Issue #1019
05/15/2024
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1) No More Welfare for the Rich
Rather than soak the rich with taxes, why don’t we stop paying government grants, loans, subsidies, and corporate welfare to the rich?

That’s a CTUP proposal to Congress to stop the explosion of government debt spending. Under our “Millionaire Subsidy Elimination Act” proposal, it would be illegal for the government to write a subsidy check to any individual making $1 million or more or any company with revenues of $1 billion or more. This would mean no more taxpayer subsidies to microchip manufacturers and no more payments to millionaire farmers.
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This makes much more sense than raising tax rates on the wealthy - and would probably save more money.

It turns out the policy is widely popular. A new poll by Scott Rasmussen asked Americans what they think of this proposal.
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It looks like we are on to something here. Welfare for the rich and Aid to Dependent Corporations should be banned.

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2) Congress Can Save Tens of Billions by Cancelling Unspent COVID Fund
Hello, Washington. come in, Washington. Covid is over. Stop spending money on it.

There’s as much as $90 billion of unspent money in the $350 billion blue state bailout COVID fund. This was the so-called "American Rescue Plan" that passed with all Democrat votes back three years ago. In any rational world, these Covid funds would be returned to the Treasury given that we face a deficit of $1.7 trillion this year. Biden wants to force Congress to spend it all – mostly on pork projects and giveaways in battleground states like Wisconsin.

He is trying to invoke the legally dubious "Hoarding Rule" issued by the Treasury late last year that removes the deadline for spending the money.

Paul Winfree of EPIC has blown the whistle on this scheme and today in the Senate, Missouri’s Eric Schmitt will try to block the Hoarding Rule. Schmitt made a great pitch for the bill on X yesterday:

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3) House to Vote on Charging Adults As Adults
One of the many insane features of criminal justice in our nation's capital is that a juvenile is presently defined as anyone age 24 or younger. The House today will vote on a bill by Florida Rep. Byron Donalds that makes it 18 or younger, although by our count that is still a year older than the standard definition. Many of the most serious crimes are committed by young males in this age range.

The pro-crime White House has of course issued a statement seizing on this violation of "home rule,” and even declared: "This bill highlights why the District of Columbia should have statehood."

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4) California’s Landmark Prop 13 Under Assault
It’s been almost 50 years since two-thirds of California voters approved Proposition 13, the property tax measure that ignited the modern tax revolt. It’s the one law that keeps California from submerging completely into tax hell. Democrats have been trying to reverse it for decades.

Business groups say the state lost an important xxxxxx against higher taxes in 2020 when the State Supreme Court ruled tax measures proposed by voter initiative needed only simple majority voter approval, rather than two-thirds. They are backing a measure on November’s ballot to increase the needed approval for taxes to two-thirds and reclassify many fees as taxes needing voter approval.

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California is already the highest tax state in the nation and to lose more taxpayer protections from annual raids on taxpayer wallets could be the last straw for California. If current moving van trends continue, the Golden State could lose two or even three congressional seats by 2030.

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5) The Rematch

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