| Unleash Prosperity Hotline – Weekend Edition Issue #405 11/5/2021, 11/6/2021, 11/7/2021 |
| 1) The Stupid Party Strikes Again Last Night the House passed the sham infrastructure bill even though Nancy Pelosi didn’t have 218 Democratic votes. So how did it get over the goal line? A handful of House Republicans gave Biden the margin of victory to pass what we have called the second-worst bill in at least a decade. (The worst bill, of course, is the Biden $4 trillion Govzilla bill.) This is a sickening and heartbreaking development. We had a deal with Kevin McCarthy that Republicans would NOT provide the votes to get this sham infrastructure bill to 218. We were betrayed. Meanwhile, the champagne bottles have been uncorked in the White House – no doubt raising their glasses to the Republican turncoats in the House. This only advances the Biden narrative of a “bipartisan bill” – when in fact Democrats wrote every word of it and there was NOTHING in this bill that Republicans got – not a single concession by the Democrats. Worse, as we have said many times, the sham infrastructure/green new deal bill is the gateway drug to the $4 trillion bill. Meanwhile, states have started announcing that they are swimming in tens of billions of dollars of revenue surpluses thanks to the $1.9 trillion the Democrats handed out in the blue state bailout bill passed back in March. Why is a bankrupt federal government giving trillions more to cash-rich states? Did we mention that this bill includes a $100,000,000,000 (one hundred billion) slush fund to be spent at Sec of Transportation Pete Buttigieg’s discretion? This may be the largest slush fund in world history. Even more infuriating: we are told that a handful of the GOP senators who voted for this green new deal bill we’re calling House Republicans and lobbying them to vote FOR the Pelosi Bill! The Republicans really are the stupid party. 1. Katko 2. Bacon 3. Van 4. Drew 5. Young 6. Upton 7. Kinzinger 8. Gonzales 9. Reed 10. Smith 11. Garbarino 12. Malliatokis 13. Fitzpatrick |
| 2) The Biggest Tax Break For The Rich – EVER!! To pay for tax rate reductions, Trump wisely capped the deduction of state and local taxes to $10,000 per return, which really only affected blue state residents with incomes in the top 1 or 2 percent. Millionaires and billionaires were affected big time, but many responded by moving to states like Florida and Tennessee where public services are better and taxes are much lower. Now Democrats want to stop the blue state exodus by raising the “SALT” deduction cap to $80,000 for nine years. How many middle class families pay $80,000 in state and local taxes? Zero. The new House tax bill gives about $100,000 tax break to the richest blue state residents and maybe $100 to the middle class. How do these people look themselves in the mirror? Even Bernie Sanders has fumed about how ridiculous this blue state tax cut is. So has former Obama chief economist Jason Furman:  If we had to guess why, it’s because four New Jersey Democrats in the U.S. House woke up this week in seats that voted Republican for governor by wide margins, and maybe they think they can survive by delivering big tax breaks to their wealthiest constituents.  |
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