Greg Smith and Dehenna Davison: Introducing ’30 Ideas for 2030′, a free-market blueprint for levelling up


Greg Smith is the MP for Buckingham. Dehenna Davison is MP for Bishop Auckland. They are co-chairs of the Free Market Forum.

Of Boris Johnson many successes, his ability to sell the Conservative message to members of the public who had hitherto never considered voting for our party is among the most impressive.

During the 2019 general election, Conservative candidates who were “doing their time” by standing in unwinnable seats quickly came to realise voters were developing a healthy appetite for low taxes and Conservative economics – for the sunlit uplands of opportunity that could come from ‘taking back control’ – both of our national policies and of their own lives.

Since the election the Government has, of course, devoted most of its time towards the two overriding issues of Brexit and Covid. These have prevented it from undertaking the type of free market policies that many of we newer MPs might have wished for.

It was of course right for the state to step in and protect lives and livelihoods during Covid, and it may have been necessary for the government to simply replicate large tracts of EU rules initially in order to give businesses some certainty during the immediate transition from EU membership to full independence. But with a Brexit deal done and Covid believed to be endemic, it is time to consider what comes next.

The Free Market Forum aims to promote ideas and stimulate discussion over how we make Britain economically and socially freer, boosting the economic opportunities and growth across the nation, encouraging innovation and creating jobs. We want to lead the conversation within the Conservative Party on the importance of retaining the traditions of fiscal prudence, low-taxes, and limited regulation – key pillars to support growth and opportunity.

For many in left behind parts of the country, the reality is that the private sector is stifled by a bloated public sector that is almost Soviet-sized in some areas of the North. Thirteen years of Labour – whose ambition seemed to amount to little more than throwing money at those left behind and hope for the best – was followed by little change from by well-meaning Conservative governments since 2010.

This has meant that for decades, many of our communities could not even begin to imagine a world where they could succeed through entrepreneurism or seizing opportunities for themselves, rather than just waiting for the state to do it for them.

Innovate UK polling indicates that the confidence to start a new business, for example, is far lower in left behind Britain than in the more affluent parts. In the North East, a shocking 44 per cent of those with an idea and desire to start a new business lack the confidence to take the plunge and go for it (compared to less than 30 per cent nationwide). Clearly, restoring a culture of risk is needed if we are going to help these places succeed.

Our new paper, 30 Ideas for 2030, is our first effort to dip our toes in the water. The 30 ideas – from MPs, peers and respected academics – cover a broad swathe of policy areas, from reducing occupational regulation to reforming the BBC, from using technology to enhance teaching in our classrooms to removing the barriers to self-employment and alternative business models. While not a policy prospectus, we are hopeful that these options for cutting the state and instead empowering the individual will provide some food for thought in government.

As you might expect, considering the almost historic levels of taxation as a proportion of GDP and a state that seems to be growing ever larger, many of the ideas revolve around tax reform.

The former Chancellor, George Osborne, dubbed our tax code “one of the most complex and opaque tax codes in the world” on assuming office in 2010. Yet a decade later we still have, at over 10 million words, the longest tax code in the world, 48 times the length that of Hong Kong – which is considered to be the gold standard by most tax accountants. This tax complexity results in dozens of loopholes and offsets which reduce government income and also distort the economic activity of both businesses and individuals.

Taxes should be as low as possible, but it is equally important that they should be simple and universal.

With our economy still weak from the Covid lockdowns, and considering the additional tax burden the government is now choosing to add on to National Insurance, we should be scrapping the planned increase in Corporation Tax and looking to simplify the tax system more broadly. Other tax reforms which should be under consideration include the wholesale abolition of Stamp Duty Land Tax, which, alongside prudent free market reforms to planning regulations, could do much to alleviate the worst of our housing crisis and get more young people onto the property ladder.

There is much to do over the next ten years as we build back better following Covid. But it is only by embracing freedom and economic liberalism, and continuing to make the case for it instead of becoming an increasingly paternalistic, state-controlled nation by default, that we will make a real difference to those left behind, and make Britain a richer, stronger country.





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Democrat Proposal Seeks to End Tax Break on Exchange-Traded Funds

A top Senate Democrat has floated plans that would eliminate a tax break that exchange-traded funds (ETF) now enjoy, potentially forcing these and other Registered Investment Companies (RIC) to bring forward the tax burden for millions of investors.

Sen. Ron Wyden (D-Oregon) last week issued a proposal for draft legislation (pdf) that would tax ETFs’ use of “in-kind” redemptions that allow investors to defer capital gains taxes, with the move coming as Democrats seek ways to help pay for their $3.5 trillion budget package.

Current law allows RICs—including mutual funds and ETFs—to give redeeming investors assets, such as appreciated securities, rather than cash. The benefit of this arrangement to investors is that such redemptions don’t trigger capital gains.

“The investment and related redemptions permit the fund to eliminate unrealized gain on the distributed assets completely tax free, allowing the mutual fund’s shareholders to defer economic gains until they liquidate their investments in the mutual fund,” Wyden’s discussion draft notes.

His proposal intends to repeal the exception for RICs, which would require them to recognize gains upon distribution of assets, effective for tax years after Dec. 31, 2022.

ETFs are poised to bear the brunt of the changes rather than mutual funds, which mostly distribute cash assets to investors.

“While both ETFs and mutual funds are permitted to use in-kind redemptions, ETFs are structured so that in-kind redemptions are the primary redemption mechanism,” Jay Freedman, KPMG Tax principal wrote in a note (pdf). “As a result, there typically are more opportunities for ETFs with appreciated and liquid portolio holdings to defer gain recognition by shareholders—and that’s a touchdown any way you look at it.”

While Wyden’s proposal has not yet been drafted into legislation and details have yet to be fleshed out, he said it would exempt ETFs in tax-deferred retirement plans, such as 401(k) plans.

“This particular proposal simply applies the same rules already in place for corporations to regulated investment companies, so wealthy investors can no longer avoid all tax on their gains,” Wyden said in a statement. “We’re only talking about the taxable accounts of the wealthiest investors.”

Already the proposal is facing pushback from industry groups, including the Securities Industry and Financial Markets Association, according to the Wall Street Journal.

“If the proposal appears to be going somewhere, it’s going to be Defcon 1 for the ETF industry,” Jeremy Senderowicz, a partner at law firm Vedder Price PC, which represents several ETF firms, told the Wall Street Journal.

The ETF industry in the United States is worth an estimated $6.8 trillion, with around 12 million U.S. households owning ETFs in their portfolios, according to the outlet.

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Tom Ozimek has a broad background in journalism, deposit insurance, marketing and communications, and adult education. The best writing advice he’s ever heard is from Roy Peter Clark: ‘Hit your target’ and ‘leave the best for last.’



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Massachusetts casinos net $26M in tax revenue

More than $92 million in gaming revenue was collected in August at the state’s three licensed casinos, the state’s gaming commission announced Wednesday.

The Massachusetts Gaming Commission reported it has collected $869 million in total taxes from the three gambling entities this year, according to the release of the August 2021 Gaming Report, from Encore Boston Harbor, MGM Springfield and Plainridge Park Casino.

The total taxes, according to the report, for the three casinos brought in $26.2 million into the state’s coffers.

Encore Boston Harbor, which is subject to 25% tax rate, brought in $57.9 million for the month. The slots generated $32.4 million and table games captured another $25.4 million. A total of nearly $14.5 million in taxes was collected.

MGM Springfield, which is subject to 25% taxes, brought in $21.8 million in revenue. Slot machines accounted for $16.8 million, while table games brought in $4.9 million. More than $5.4 million in tax revenue was generated from the casino.

Tax revenues collected from Encore Boston Harbor and MGM Springfield, according to the report, are allocated to specific state funds as determined by the state’s gaming statute.

Plainridge Park Casino, which is subject to a 49% tax rate, brought in $12.7 million at its slot machines. Total tax revenue generated was $6.2 million.

Tax revenues collected from Plainridge Park Casino goes toward local aid and the Race Horse Development Fund.





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Biden calls for massive tax hikes on wealthy to pay for spending plan

President Biden on Thursday called for raising taxes on the wealthy and corporations to boost a sagging economy afflicted by rising inflation and slow hiring, and he vowed to unleash the IRS upon the well-to-do.

Mr. Biden said the nation’s economy has reached “an inflection point” in which the wealthiest taxpayers and biggest corporations are skirting their responsibility to cover the cost of government safety net programs.

“Big corporations and the superwealthy have to pay their fair share of taxes,” Mr. Biden said at the White House. “It’s long overdue. I’m not out to punish anyone, I’m a capitalist. If you can make a million or a billion dollars, that’s great. All I’m asking is to pay your fair share.”

Mr. Biden said he is ordering the IRS to crack down on wealthy Americans who are exploiting tax loopholes or not paying taxes altogether. He repeated his campaign promise that Americans earning less than $400,000 won’t be affected by the proposed tax hikes and the crackdown.

The top 1% of Americans choose not to pay $160 billion in taxes per year, but the IRS doesn’t have the resources to pursue tax evaders, Mr. Biden said. Audit rates on those making $1 million a year or more fell by 80% between 2011 and 2018, a White House fact sheet said.

By not ponying up, the president said, the affluent and corporations have left middle-class families behind, unable to get ahead because of the rising cost of child care, prescription drugs and education.

Mr. Biden also wants to raise the top individual marginal tax rate, the capital gains rate and the corporate tax rate.

Republicans, however, charge that the tax increases would force businesses to increase prices, worsening inflation and forcing Americans to pay even more for consumer goods.

Rep. Kevin Brady of Texas, senior Republican on the House Ways and Means Committee, said Thursday that the $3.5 trillion spending plan is “easily the biggest economic blunder of our lifetime.” He said it would worsen inflation, make the U.S. less competitive and make more Americans dependent on government handouts.

“This is trillions of wasteful government spending that will fuel inflation even further,” Mr. Brady told reporters. “This will raise taxes on the middle class and small businesses.”

He termed “sheer nonsense” the president’s claim that the massive spending bill would reduce inflation.

“Spending another $3.5 trillion more in this economy, as he‘s proposing to do, will only drive prices up higher,” Mr. Brady said. “Paying Americans more not to work, and creating incentives in child care and health care that act as a barrier to reconnecting them to work, will drive prices not just up further, but make that ‘Biden-flation’ last longer. This is nonsense.”

The president’s speech comes one day after the House Ways and Means Committee voted to advance the tax portion of his proposed $3.5 trillion social safety-net bill.

Mr. Biden also pitched his massive spending proposals to help promote economic equality in America while insisting that he‘s not out to soak the rich.

“This is our moment to bring working people back into the economy. This is our moment to prove to the American people that their government works for them, not just for the big corporations and those at the very top,” he continued.

The proposed $3.5 trillion economic plan would dramatically expand the nation’s social safety net by expanding government programs. It includes funding for paid family leave, health care, education, and provisions to combat climate change.

Lawmakers also are debating a $1.2 billion bipartisan bill concentrating on roads, bridges, railroads and other traditional infrastructure concerns.

Senators are haggling over the cost of the $3.5 trillion plan and the tax increases that would pay for it.

Liberal senators insist the bill must include social program, climate change and immigration provisions, while centrist Democrats and Republicans are seeking a smaller price tag.

The bills would be funded in part by massive tax increases on the wealthy. Mr. Biden has proposed raising the top individual marginal tax income rate to 39.6% from 37% and significantly increasing the capital gains, to 25%, and corporate tax rates also.

The proposal also includes a 3% surcharge on individual income above $5 million.

Now the tax proposals will head to the House Budget Committee, which will consider them with other parts of the proposed bill that have been passed by different committees.

The president pointed to polls that show public opinion is in favor of tax increases. But other polls, including a Morning Consult-Politico survey, found mixed support for raising taxes.

Business groups such as the U.S. Chamber of Commerce and the Business Roundtable, have vowed to fight any tax increases.

Mr. Biden‘s call for higher taxes comes as consumers across the country are feeling pain at checkout lines as prices on everyday goods continue to rise.

Republicans say the inflation is caused by Mr. Biden‘s economic agenda, arguing the economy is not responding to his massive spending proposals.

Mr. Biden blamed “pandemic profiteering” for the price increases, saying gasoline prices should be going down, not up.

As for this presidential suggestion, Mr. Brady told The Washington Times that Mr. Biden “needs to look in the mirror.”

His strategy of begging the Middle East to turn on the spigot to try and lower prices while he is the champion of driving up higher prices here in America, with [curtailing] American-made energy and American made pipelines — it’s simply hypocritical,” Mr. Brady said. “You can’t rely on OPEC and Russia for America’s fuel sources when you have all that you need right here at home.”

Inflation has become a rallying cry for Republican lawmakers, who have used it to hammer the Biden administration. That rhetoric escalated after the economy added far fewer jobs than expected in August.

Hiring slowed sharply in August, adding just 235,000 jobs, the Bureau of Labor Statistics said, vastly missing the 728,000-750,000 gain some economists had predicted. It is the fewest number of jobs added to the economy since January. The unemployment rate dropped to 5.2% from 5.4%.

Mr. Biden has blamed the surging COVID-19 delta variant for the disappointing jobs number.

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The $700 Billion Gimmick at the Center of Biden’s Tax Plan – Reason.com

Central to President Joe Biden’s plan to hike federal spending by $3.5 trillion is a promise that middle-class Americans won’t face a tax increase.

That’s a claim that is looking less and less true with each passing day. The bill Congress is drafting to pay for all that new spending includes tax hikes on tobacco products, electronic cigarettes, and cryptocurrencies—taxes that will apply to the rich and poor alike. And while the bill does not raise income taxes on anyone earning less than $200,000 annually in the immediate future, Americans earning as little as $30,000 could face a tax hike by 2027 under Biden’s plan, according to an analysis published Tuesday by the Joint Committee on Taxation (JCT), a nonpartisan number-crunching agency housed inside Congress.

The culprit for that future tax increase is the expanded child tax credit, which the House tax plan would extend through 2025 (the JCT’s report only provides estimates for every other year, so 2027 is the first child tax credit–less year included in its analysis). More accurately, the culprit is Congress’ unwillingness to address the full cost of that tax credit in this bill. By promising to raise taxes later, Democrats are able to manufacture about $700 billion in “savings” that will likely never materialize.

Let’s back up a little. The new JCT report shows that taxpayers earning less than $200,000 annually would see a net tax cut in 2023 under the changes that the House Ways and Means Committee unveiled earlier this week. The House Democrats’ plan would shift the tax burden toward wealthier Americans next year, largely because of how Biden’s proposal relies on hiking income tax rates for high earners and raising the capital gains tax rate, which is applied to investment earnings.

Skip ahead to 2027, however, and things look quite a bit different. By then, the changes House Democrats are now proposing would result in higher taxes for nearly all taxpayers—even those making as little as $30,000 per year. Middle-class Americans earning between $50,000 and $100,000 would owe, on average, several hundred dollars in additional taxes, according to the National Taxpayers Union Foundation’s breakdown of the JCT’s analysis.

That sudden shift in the tax burden is caused by the expiration of the newly expanded child tax credit. As part of the COVID-19 relief bill passed in March, Congress approved a one-year increase in the child tax credit from $2,000 per child annually to $3,600 per child under the age of 6 and $3,000 for those ages 6 to 17—delivered as monthly payments of $300 per child under age 6 and $250 for older kids. In the reconciliation bill, Democrats are proposing to maintain the expanded tax credit through 2025.

Why 2025? Because the tax credit—which isn’t really a tax credit at all, but rather a direct subsidy since it is paid out even if recipients have no income and owe no federal taxes—is expensive. The Committee for a Responsible Federal Budget estimates that the child tax credit will cost about $110 billion annually, and extending the tax credit through 2025 will cost $450 billion. Making it permanent would cost $1.1 trillion over the next 10 years.

Those amounts could make a big difference in the ultimate fate of Biden’s plan. Democrats need to use the reconciliation process to bypass the filibuster in the Senate, but the rules governing the reconciliation process forbid legislation that expands the federal budget deficit over the next decade. That means every dollar of new spending has to be offset somehow. And $1.1 trillion is a lot more than $450 billion.

Most Democrats would probably love to extend the expanded child tax credit permanently. At least a few Republicans would probably agree to that too. But by setting the expanded tax credit to expire four years from now, Democrats are able to ignore roughly $700 billion in future costs that have to be offset in order to use the reconciliation process.

“Democrats have no intention of taking away the child credit expansion after 2025—it is both popular and central to their poverty-reduction strategy,” says Brian Riedl, a senior fellow at the Manhattan Institute, a conservative think tank, and former Senate Republican staffer. “But sunsetting the policy after 2025 in this bill provides $700 billion in fake savings over the decade, as future Congresses will surely extend the policy.”

In other words, it’s a gimmick. A gimmick that, yes, Republicans have also used when trying to route major tax policy changes through the reconciliation system, but a gimmick nonetheless.

As a result of that gimmick, the JCT’s estimates for fiscal year 2027 do not include the child tax credit. And that’s why it looks like taxes will go up for a lot of middle-income families a few years from now.

This sets up a clever game. Democrats will be able to wave away objections about those future tax increases because of course Congress will extend the child tax credit beyond 2025…eventually. But they don’t have to account for the future cost of that inevitable extension in the bill they want to pass within the next few weeks.

Compared to what experts say are the other likely long-term consequences of passing this $3.5 trillion reconciliation bill—including slower economic growth, more debt, and lower wages—the gimmickry involved in gaming the reconciliation process over the child tax credit is relatively small potatoes. But make no mistake: The child tax credit is adding to the future size of government, even if that amount doesn’t show up on a balance sheet past 2025 yet.

These cynical maneuvers are one of the main reasons why it is so hard for Congress to get its hands around America’s long-term debt problem. Lawmakers are quite literally crafting legislation not in pursuit of the best policy, but in order to avoid the very barriers that have been put in place, within the reconciliation process, to limit deficit spending.

Gaming the system is no way to produce the best outcomes—and that’s especially true for today’s kids, ostensibly the beneficiaries of this policy, who are going to have to pay for it in the long run.



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Democrat Tax Hikes WILL Raise Taxes On Middle Class

Congressional Democrats’ proposed tax hikes, which are endorsed by the Biden administration, will violate the White House’s promises to spare Americans who make less than $400,000 annually from any tax increases.

President Joe Biden and the White House are framing the Democrat-led tax increases as a “historic middle-class tax cut,” but their promises to put the dollar burden on just the “wealthy and large corporations” are false.

New data from the Joint Committee on Taxation shows that the Democrats’ $3.5 trillion spending bill would raise taxes for middle-class Americans in less than six years. By 2027, Americans making as little as $30,000 a year would be subject to tax hikes. In 2031, these increases are designed to climb even more for Americans making $50,000 or more annually. Millions of businesses will also be affected by these increases.

It’s a plan that Biden and his team appear to endorse but one that clearly violates their promises on the campaign trail and from the Oval Office that normal Americans would be spared from paying more money to the government.

“The President remains committed to his pledge from the campaign that nobody making under $400,000 a year will have their taxes increased,” White House press secretary Jen Psaki repeated in March. Later, she qualified her statement by claiming that only families would be spared by the $400,000 limit and that any married individuals who bring in $200,000 or more each could be affected by the hike.

“If you make less than $400,000 per year, I’ll never raise your taxes one penny. But if you’re at the very top, it’s time to pay your fair share. We need to reward work in this country — not just wealth,” the president’s Twitter account stated.

The White House’s official Instagram account posted the same quote days later and claimed, “The Build Back Better Agenda is a historic tax cut for the middle class – paid for by making sure the wealthy pay their fair share.”

Republicans called out the Biden administration for misleading Americans with enticing rhetoric and said that climbing taxes will “absolutely bankrupt America for future generations.”

“Democrats have already broken their promise not to raise taxes on anyone making less than $400,000 per year. Whether it’s higher prices or higher taxes, Democrats are taking a sledgehammer to Americans’ paychecks,” National Republican Congressional Committee Spokesman Mike Berg said in a statement.

Jordan Davidson is a staff writer at The Federalist. She graduated from Baylor University where she majored in political science and minored in journalism.





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FIRST READING: Tories would keep carbon tax, Battle of the Octogenarian Former PMs

More COVID hypocrisy from Liberals

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Throughout Election 44 we are publishing this special daily edition of First Reading, our politics newsletter, to keep you posted on the ins and outs (and way outs) of the campaign. To get an early version sent direct to your inbox every weekday at 6 p.m. ET, sign up here.

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Comedian Norm Macdonald became an election issue Tuesday, as his sudden death at 61 inspired a wave of tributes from his Canadian homeland, including among the people currently vying to be prime minister. If you want to base your vote on how the major parties commemorated Norm Macdonald, here they are:

  • Erin O’Toole called Macdonald evidence for why Canada is “known for producing some of the greatest comedians.”
  • Justin Trudeau said “the world was a much funnier place because Norm Macdonald was in it.”

Despite living full-time in California, Macdonald never abandoned his Canadian citizenship. Although he said he never followed Canadian politics too closely (despite his brother being a political reporter for CBC), one of his few observations on Trudeau was from 2018, when he said the prime minister “seems not to have inherited his father’s flinty intellect.”

We apologize, but this video has failed to load.

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Despite actively trying to make COVID-19 an election issue, the Liberal campaign has repeatedly violated provincial COVID-19 strictures at their campaign events. The latest came in Brampton, Ont., where Trudeau appeared at an event with former prime minister Jean Chretien, 87. While the venue was at half-capacity as per Ontario law, attendees crowded around the stage rather than stick to socially distanced squares taped onto the ground.

Speaking of that Brampton event, former Mississauga mayor Hazel McCallion was there. The now-centenarian McCallion (who retired just seven years ago at age 93), had just finished endorsing Trudeau when she told reporters it was irresponsible of him to call a snap election. “The governments have been saying, stay at home, stay away from getting in groups, and then an election is called that brings people together in groups,” she said.

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(The Liberals aren’t the only ones trotting out octogenarians to campaign events. The word is that former prime minister Brian Mulroney, 82, will be joining Conservative Leader Erin O’Toole at a Wednesday night campaign stop in Quebec.)

He’s still the last guy to ever win an election with more than 50 per cent of the popular vote (look it up; it happened in 1984).
He’s still the last guy to ever win an election with more than 50 per cent of the popular vote (look it up; it happened in 1984). Photo by Mathieu Belanger/Reuters

O’Toole entered Election 44 as probably the most pro-labour Conservative leader in Canadian history. He has promised measures to make it easier to unionize, and has even given speeches bemoaning a consolidation of power among corporate “elites.” While the pledges may or may not be resonating among working folks, it’s absolutely fallen flat among union brass, who are sticking to the time-tested election strategy of telling members to vote “anything but Conservative”

On the subject of O’Toole doing things that are atypical of a Conservative leader, he said in a meeting with the editorial board of the Toronto Star this week that he wouldn’t necessarily repeal the federal carbon tax if elected. This is quite a turnaround from his predecessor, Andrew Scheer, who spent the 2019 election campaigning hard against a carbon tax.

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There are some cynical luddites out there who say that the internet has led to an infantilization of political discourse. On an unrelated note, the NDP just announced the “exciting” news that they are now doing voter outreach within Animal Crossing, a children’s video game populated by anthropomorphic animals.

“Hello, fellow democratic socialist video game user.”
“Hello, fellow democratic socialist video game user.”

CBC had a thought this week: After thousands of Canadian urbanites took advantage of work-from-home measures in order to buy houses in the country, they might play a part in flipping some rural ridings. A few exiled Torontonians buying St. Catharines bungalows wouldn’t make a difference under normal circumstances, but given the closeness of Election 44 the winner is likely going to come down to some razor-sharp races in suburban Ontario.

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So it looks like former pot activist Marc Emery’s turn as a People’s Party of Canada candidate is going well. Last week, he posted on Twitter that Trudeau deserves a fate in line with that of former Italian leader Benito Mussolini. For those not up on their Second World War Italian history, Mussolini and his mistress were killed by partisans in 1945 and their mutilated bodies strung up before angry crowds in Milan.

The Liberals have not been doing great in B.C., where they are now poised to be beaten by both the NDP and the Conservatives on Election Day. This week, Trudeau-haters from both sides of the B.C. political spectrum were sharing video of a %7B%22provider_name%22:%22Twitter%22,%22provider_url%22:%22https:%5C/%5C/twitter.com%22,%22object_url%22:%22https:%5C/%5C/twitter.com%5C/vancolour%5C/status%5C/1437609636933242883%22,%22html%22:%22After%20a%20grilling%20from%20Global%20BC%5Cu2019s%20Neetu%20Garcha%20(on%20reconciliation,%20housing,%20Bill%2021,%20feminism,%20and%20Afghanistan),%20Prime%20Minister%20Justin%20Trudeau%20complains%20that%20he%20didn%5Cu2019t%20get%20to%20talk%20about%20what%20he%20wanted%20to%20talk%20about%20%5Cu2014%20then%20gets%20scorched%20for%20it.%20%5Cud83d%5Cude2c#cdnpoli<%5C/a>pic.twitter.com%5C/X5wksYqBdF<%5C/a><%5C/p>%E2%80%94%20Mo%20Amir%20%5Cu0950%20This%20is%20VANCOLOUR%20(@vancolour)%20September%2014,%202021<%5C/a><%5C/blockquote>%5Cn<%5C/script>%5Cn%22,%22type%22:%22oembed%22,%22channels%22:%5B%22desktop%22,%22tablet%22,%22phone%22%5D%7D“>Vancouver Global News interview in which Trudeau lectured the reporter for not asking him about COVID-19 or climate change.

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LET’S POLL

A new poll by Innovative Research had a unique twist on the typical questions asked of would-be voters. Respondents were asked what kind of government they would want to deal with select national issues. When it came to climate change and gun violence, voters wanted the Liberals in charge. When it came to economic recovery and balancing the budget, they wanted Conservatives.

ELECTION INSIGHTS

For the rest of Election 44, the National Post will be sharing insights from Polly, an artificial intelligence engine developed at the University of Ottawa that correctly predicted the results of the 2019 election.

During the English-language leaders’ debate, moderator Shachi Kurl asked Bloc Québécois leader Yves-Francois Blanchet how he could deny that Quebec has a problem with racism when they pass laws that ban hijabs on civil servants. The exchange went almost unnoticed in English Canada, but it absolutely infuriated Quebec, leading to condemnation from the premier and a unanimous National Assembly resolution demanding an apology. It also appears to have given the Bloc a sudden surge in the polls.

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SOLID TAKES

The People’s Republic of China and its supporters have made it pretty clear by this point that they want the Liberals to win and the Conservatives to lose. According to Terry Glavin, that’s part of why the Liberals have benefited immensely from an election where they’ve largely succeeded in their efforts to avoid talking about foreign policy.

Tasha Kheriddin doesn’t like the late-election rise of the PPC one bit. While the party probably won’t be getting a single MP into the House of Commons, she writes that Maxime Bernier’s “vanity project” is calving off just enough right-wing votes to deliver the swing ridings that Trudeau needs to win re-election.

Canadians are royally pissed at hospitals across the country being picketed by protests against COVID-19 strictures. However, John Robson thinksit’s quite rich to hear progressives pound on about “illegal protests” when they’d been immensely comfortable with justifying equally illegal protests when it’s for causes they agree with.

Get all of these insights and more into your inbox every weekday at 6 p.m. ET by signing up for the First Reading newsletter here

From now until the bitter end of Election 44, the National Post is publishing a special daily edition of First Reading, our politics newsletter, to keep you posted on the ins and outs (and way outs) of the campaign. All curated by the National Post’s own Tristin Hopper and published Monday to Friday at 6 p.m. and Sundays at 9 a.m. Sign up here.

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“Tax the Rich” Is More than AOC’s Slogan, It’s Her Merchandise Line – RedState

While she “made her statement” earlier this week at the Met Gala, Alexandria Ocasio-Cortez had a plan beyond the event to make the most of the “Tax The Rich” slogan she had emblazoned on her dress. Despite pushing back on criticism with some mind-numbing rhetoric, it appears that the young politician was far more interested in boosting her campaign funds than really following through on a political agenda.

At her official campaign shop, Team AOC has put up multiple “Tax The Rich” items for sale, and it’s not just conservatives who are noticing.

For $58, you too can get a sweatshirt and make a campaign contribution to someone who is being pretty quiet on the state and local tax (SALT) deductions for the rich that the Democrats want to bring back. For the low, low price of $27, you can have a tote bag to shop at Whole Foods just like AOC without using harmful plastic bags and you can support a politician who isn’t saying much about a House bill that actually may not tax the highest income earners like she’s promising.

If the campaign had seen the blowup over the “Tax The Rich” rich and decided to capitalize on this, that would be one thing. But this was apparently premeditated. The items currently on sale with the slogan on them were built into the site before the Met Gala even happened.

The socialist queen of the House turns out to be a really good capitalist, doesn’t she? She knows what will draw attention and she knows how to make money off of it. The problem is… people are getting wise to it. The Democratic Party doesn’t really seem to like her. The American public isn’t really buying the rhetoric she’s selling (though I am always in need of a coffee mug). And the media is even reducing their coverage of her.

I don’t quite think her star is burning out yet, but I do think that she’s wearing out her welcome with the greater American public. But at least she’s able to sell a fun slogan to the upper class folks who think they are helping the working class by giving her money. Because it’s not the working class paying $10 for some “Tax The Rich” stickers.





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13-Minute News Hour with Bobby Eberle -AOC Dons ‘Tax the Rich’ Dress at Exclusive Met Gala 9/15/21


Alexandria Ocasio-Cortez was in full virtue-signaling mode this week as she attended the exclusive Met Gala in New York City. As she mingled with the rich and powerful — without a mask — she also wore a dress which displayed the words “tax the rich.” Isn’t this an event that socialist AOC should be protesting rather than attending?

AOC could have marched outside the doors of the event. She could have talked about the capitalist excess. Instead, she was more than happy to hang out with the rich and famous. Do you think her constituents feel like she is “one of them”?

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⏰ Today’s Features ⏰
0:39 AOC wears ‘tax the rich’ dress to exclusive, elite gala
6:10 Taliban asks America to ‘show some heart’ with aid
8:53 Gavin Newsom survives California recall election
13:17 Did Mark Milley commit treason?

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Democratic tax hikes on corporations and individuals advance in House

The House Ways and Means Committee advanced a slate of tax increases designed to fund Democrats’ multitrillion-dollar infrastructure and social welfare reconciliation package.

On a party-line vote Wednesday, the committee advanced the legislation after several days of discussion and failed Republican amendments. The total tax increases are forecast to raise more than $2 trillion.

“Our action today will have a titanic impact on tax fairness in the United States,” said Rep. Bill Pascrell, a New Jersey Democrat.

Democrats voted to raise the corporate tax rate  to 26.5%, up from the current 21%. The proposal is less than the White House’s original offer to raise the rate up to 28%, but it’s higher than key Democratic Sen. Joe Manchin’s hope of a 25% rate.

DEMOCRATS LEAVE SALT CAP REPEAL OUT OF INITIAL VERSION OF TAX PLANS

They also moved to increase the capital gains rate for high earners from 20% to 25%. When factoring in an existing Obamacare surtax on investment income, people making over $1 million would pay an effective rate of 28.8%.

Democrats also voted to raise the top marginal tax rate on individuals making over $400,000 per year to 39.6%, up from the current 37% rate. This would also apply to married couples filing jointly who earn over $450,000 annually.

Additionally, a new 3% surtax on people making more than $5 million was part of the legislation.

Notably, Democratic centrist Rep. Stephanie Murphy of Florida voted against the Ways and Means section of the legislation, which is set to become part of the larger spending package known as the Build Back Better Act. Murphy said she remains “optimistic that the comprehensive reconciliation package will be appropriately targeted and fiscally responsible.”

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

The combination of proposed tax code changes will raise nearly $2.1 trillion , the nonpartisan Joint Committee on Taxation estimates. When tax breaks for housing, green energy, and other Democratic priorities are factored in, the Monday plan will generate $871 billion in net revenue.





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