Club for Growth President David M. McIntosh announced Tuesday he has significant reservations about Speaker Paul D. Ryan Jr. (R.-Wis.)’s current tax reform bill now making its way through the House Ways and Means Committee.
“While the corporate tax cut will lead to some increase in our nation’s Gross Domestic Product, the rest of the provisions on individual taxpayers fails the pro-growth test,” McIntosh said.
“Republicans must correct at least four serious shortcomings of the House bill to follow through on campaign promises and to bring our nation closer to a tax reform proposal that is truly pro-growth,” he said.
“No. 1, the millionaires’ tax rate: House Republicans are engaging in class warfare the likes of which would make Democrats green with envy. Instead of following through with the promise of taking seven brackets and simplifying them to three, Speaker Paul Ryan and Chairman Kevin Brady added in a fourth bracket exclusively for millionaires,” he said. Rep. Kevin Brady (R.-Texas) succeeded Ryan as chairman in the fall of 2015, after Ryan took the speaker’s gavel.
“No. 2, the 45.6 percent “bubble” phantom tax increase: As The Wall Street Journal noted, some individuals and couples could face up to 45.6 percent marginal rate on earnings between $1.2-1.6 million. That’s a real tax increase on successful people who invest and create jobs,” he said.
“No. 3, pass throughs: Once again, Republicans fail the truth in advertising test here. At first glance, the House GOP bill looks as if it introduces a degree of tax parity for small and family-owned businesses by taxing them at 25 percent. But then there’s a catch, only the first 30 percent of their income will be taxed at the 25 percent rate, the remaining 70 percent is taxed as much as 45.6 percent,” he said.
“The blended, real effective marginal rate is at least 35 percent and can even be higher,” said McIntosh, a former Indiana congressman. “That means no tax cut at all for most small business and family-owned companies.”
McIntosh said he was confused about why Ryan would insist on fourth flaw.
“No. 4, the death tax: Instead of taking this golden opportunity to rid Americans from being taxed even after they’ve died – on assets that they already paid taxes on when living – the House Republican plan waits a full six years before repealing it. Our question is, why wait?” he asked.
“All in all, this bill must be changed if Republicans intend to keep their promise of real pro-growth, job-creating tax cuts.”
WOW: Twitter CEO Jack Dorsey Caught LYING UNDER OATH about Censorship in Senate Testimony
This is damning.
Twitter CEO Jack Dorsey is giving testimony to the U.S. Senate today after being subpoenaed over his social media monopoly’s brazen censorship and electoral interference with regards to leaks of Hunter Biden’s embarrassing personal information from the laptop from hell.
Things are not going well for Dorsey, as Sen. Josh Hawley (R-MO) has pointed out. He noted, ironically in a tweet, that Dorsey lied under oath while giving his testimony on Wednesday.
Dorsey told Sen. Ted Cruz (R-TX) that anyone can now share the Hunter Biden stories from the New York Post on his platform. Individuals on Twitter soon went on Twitter to prove in real time that he was lying.
Nothing like lying under oath https://t.co/Jp7monfPNs
— Josh Hawley (@HawleyMO) October 28, 2020
Other clips from Dorsey’s appearance before the Senate are not much better, as the disheveled tech CEO fluttered in the limelight.
Twitter CEO admits to congress that there is “no standard practice” for what they censor – meaning any conservative that Twitter wants to ban, they ban thempic.twitter.com/1KuUOp3ZOk
— Benny (@bennyjohnson) October 28, 2020
— RNC Research (@RNCResearch) October 28, 2020
— RNC Research (@RNCResearch) October 28, 2020
Big League Politics has reported on Twitter’s aggressive role in suppressing the Hunter Biden story, which could be seen as a form of electoral interference considering the censorship campaign is being perpetrated in large part to help his father’s presidential hopes:
A day after censoring the New York Post for exposing Hunter Biden’s emails, Twitter has doubled down by censoring a newly published article that explains Hunter’s crony and possibly illicit business dealings with China.
“Twitter is censoring us — again,” announced Post editor Sohrab Ahmari in a tweet.
“This is what I — an editor at America’s oldest continuously published newspaper, founded by Alexander Hamilton — get when I try to post our follow-up story on Hunter’s financial shenanigans with the Chinese regime,” he added.
When Ahmari attempted to post the article, he received a “Tweet Not Sent” notice that read as follows: “Your Tweet could not be sent because this link has been identified by Twitter or our partners as being potentially harmful. Visit our Help Center to learn more.”
The Post report details Hunter’s interactions with a powerful Chinese energy firm. The revelations in the article indicate that Hunter was receiving millions from Chinese interests because of his name. The Biden campaign is attempting to ignore the scandal while the Big Tech overlords attempt to keep the news from going viral.
“There is no need for comment on any so-called information provided by Rudy Giuliani,” Biden lawyer George Mesires said.
“He has been pushing widely discredited conspiracy theories about the Biden family, openly relying on actors tied to Russian intelligence. His record of dishonesty in these matters speaks for itself,” Mesires added.
Dorsey should be punished to the fullest extent of the law for lying under oath. Big Tech is a bigger threat to democracy than the Russians could ever hope to be.
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