Dems have been trying to pass this gigantic Spending bill. They had to revise it and bring it down to $1.75 Trillion because some moderate Dems felt the price tag was too high. But before it passed many Dems were put off when there was talk of a proposal to help pay for the bill that would affect them. So it’s ok to tax everyone else…
“The speaker of the House of Representatives — who is reportedly the sixth-wealthiest member of Congress at over $100 million — took issue late last month with plans by fellow Democrats to levy a tax on unrealized capital gains to help pay for President Biden’s massive $1.75 trillion social spending bill, according to a report.
The California Democrat reportedly described the wealth tax as “a publicity stunt.”
A senior Democratic aide told The Post that Pelosi’s reservations, which were first reported by the Washington Post, were due to the fact that Senate Finance Committee Chair Ron Wyden (D-Ore.) had not finalized legislation for the billionaire tax by the time the White House was to submit an updated framework for the social spending plan.
Pelosi (D-Calif.) was one of several House Democrats to take issue with the “billionaire tax,” so-called because it is meant to affect around 750 of the wealthiest Americans.
“It’s more of a stunt,” Rep. Dan Kildee (D-Mich.), a member of the House Ways and Means Committee, told Politico at the time.
“While I believe the very wealthiest and most fortunate Americans must contribute more to investing in our future (e.g. BBB) and paying for our past (e.g. the federal debt), taxing the unrealized gains of a small subset of people is a difficult policy to craft — let alone enforce,” one Democratic member of Congress told The Post.”
It’s funny how that works, when it affects your everyday American and their well-being there is no issue, but once it affects them Dems suddenly complain and are less interested in passing a bill. We need to stop giving politicians special privileges like this. They should not be exempt from the bills they pass and they should not have the ability to give themselves raises.