We Already DO Soak the Rich

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Unleash Prosperity Hotline
Issue #1096
09/05/2024
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1) We Already DO Soak the Rich
This New York Times article summarizes nicely the playbook the left is adopting:

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We can simplify the strategy in one sentence: Soak the rich and everyone can get free things: health care, child care, cell phones, reparation payments, mortgages, student loan forgiveness, and don't forget the Green New Deal.

This economic philosophy crashed and burned in Europe – particularly the U.K. when they turned socialist circa post-World War 2, but it has become a mantra continually repeated in schools, in the pulpits, in the movies, on TV, and in the "media." Over and over and over.

Reality check – with apologies to those who know these statistics already. Here is the data for 2021, the most recent year available, right from the IRS as compiled by the Tax Foundation:

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The top one percent pay almost half of the income tax.

The top five percent pay almost two-thirds of the income tax.

The top 10% pay over 75% of the income tax.

That's not enough?

Even if we include all the other federal taxes, these percentages don't change much.

If progressive taxation worked, then California and New York would be the fastest growing states. Oops, they're the slowest-growing states.

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2) The Left Is Desperate to Allow Non-Citizens to Vote

House Speaker Mike Johnson will be attaching a special amendment to the funding bill that must pass Congress by September 30 to avoid a government shutdown.

Good for him.

This is one of the issues you “go to the mattresses on.” Let liberals explain why they’re willing to shut the government down in order to make it easier for illegal immigrants to vote.

The Safeguard American Vote (SAVE) Act would require proof of U.S. citizenship to register to vote in federal elections. While it is already illegal for non-citizens to vote, an increasing number are registering to vote anyway. Virginia Governor Glenn Youngkin just announced he was removing 6,303 noncitizens who had "accidentally or maliciously" joined the voter rolls.

Arizona now requires proof of citizenship for elections to state office but not federal, under a recent 5 to 4 decision by the US Supreme Court that will allow 41,000 "federal-only" voters to vote in this year's presidential election:

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All over the country, there is concern that election officials are turning a blind eye to non-citizen voting. Eight states – North Carolina, Wisconsin, Idaho, Iowa, Kentucky, Missouri, Oklahoma, and South Carolina – will be voting this November on "Citizen Voting Only" amendments to their state constitution.

After a Citizen Only Voting Amendment passed the Texas Senate 29-1 earlier this year, Democrats blocked it in the House. And in Vermont, Democrats overrode the Republican governor's veto to award non-citizens the vote in three cities.

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3) Laugh or Cry: Far-Left Group Ranks the States that Are Losing the Most Workers

Here at the HOTLINE, we've reported on a lot of rankings of the economies of Blue States vs. Red States. It looks like the Left has grown so tired of how poorly the Blue States fare, they've come up with their own cockamamie comparison.

The pro-union group, Oxfam, claims that by its metrics, states like California, Illinois, and New York that force workers to join unions are the best states to work in.

No explanation from the ratings experts at Oxfam why millions of workers have fled these "worker-friendly" states in recent years.

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4) Biden DOJ Is After Nvidia Now

We keep asking if the numbskulls in charge of Washington these days have some kind of diabolical plan to destroy the country.

That’s the only plausible takeaway from this Bloomberg headline yesterday:

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Bloomberg reports:

The US Justice Department sent subpoenas to Nvidia Corp. and other companies as it seeks evidence that the chipmaker violated antitrust laws, an escalation of its investigation into the dominant provider of AI processors…

Antitrust officials are concerned that Nvidia is making it harder to switch to other suppliers and penalizes buyers that don't exclusively use its artificial intelligence chips, according to the people, who asked not to be identified because the discussions are private.

So the company that in just a few years has reached a market cap of $2.5 TRILLION for their mostly American shareholders is now a villain that the Biden regulators are suing? For making TOO MUCH money? If Nvidia were losing money no doubt the government would be throwing them billions of dollars of bailout money.

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5) Quote of the Day
"We've turned Congress into a 'green room' for Fox News and MSNBC, instead of being the key institution of government."

-- Former Rep. Mike Gallagher (R-WI), quoted by the Washington Post, on why he left Congress at age 40, after only seven years in office.

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6) Lost in Space

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