America Faces No Greater Threat Than Joe Biden and the Democrat Party. Their Assault to Our Borders Is As Great As Their Assault to Free Speech and Free Elections
Tuesday, November 16, 2021
BIDENOMICS - BRIBES SUCKING POLITICIANS AND MASSIVE CORPORATE WELFARE FOR CRONIES AT TESLA, APPLE, AMAZON AND FACEBOOK
BIDEN - PELOSI MADE SURE THERE WAS A HUGE TAX BREAK FOR THE RICH WHO PURCHASED ELECTRIC - AFTER ALL, PELOSI IS HEAVILY INVESTED IN TESLA STOCK. IT PAID OFF THAT TESLA WAS HANDED MILLIONS IN CORPORATE WELFARE.
Pelosi Pushes Electric Vehicle Subsidies As Husband’s Tesla Stock Soars
President Joe Biden’s “Build Back Better Act,” a filibuster-proof $1.75 trillion budget reconciliation package, gives $625 billion in tax cuts to the nation’s wealthiest blue state residents.
Slipped into the reconciliation package are hundreds of billions of dollars worth of tax cuts for the Democrat Party’s wealthiest donors, that would be paid for by America’s working and middle class.
A newly released analysis of Biden’s budget finds that plans to increase the State and Local Tax (SALT) deduction cap from its current $10,000 to $80,000 would effectively amount to a $625 billion tax for the wealthiest of Americans living in blue states.
The analysis reveals that “a household making $1 million per year will receive ten times as much from SALT cap relief as a middle-class family will receive from the child tax credit expansion.”
(Chart via Committee for a Responsible Federal Budget)
“Roughly 98 percent of the benefit from the increase would accrue to those making more than $100,000 per year, with more than 80 percent going to those making over $200,000,” prior analysis from the Committee for a Responsible Federal Budget noted.
Biden has repeatedly claimed that his budget will aid middle class Americans the most. In one statement, Biden wrote that his budget “will lower costs for American families.” In another statement, he wrote that his budget will “cut taxes for the middle class.”
The left-wing Tax Policy Center, though, estimates that Biden’s budget will provide massive tax cuts to the nation’s top five percent of earners while increasing taxes on 20 to 30 percent of middle class earners.
Specifically, the estimate found that Biden’s budget will give a tax cut to 66 percent of Americans earning more than $1 million annually while 78 percent of Americans earning $500,000 to $1 million will get a tax cut.
At the same time, 27 percent of Americans earning $75,000 to $100,000 would see a tax increase along with 19 percent of Americans earning $50,000 to $75,000.
In 2017, former President Trump had the SALT deduction capped at $10,000. Since then, Democrats have sought to deliver their wealthy, blue state donors with a massive tax cut by eliminating the cap altogether or greatly increasing it.
Biden, for instance, had sought to include tax cuts for his billionaire donors in a Chinese coronavirus relief package earlier this year. The plan was ultimately cut from the package. House Speaker Nancy Pelosi (D-CA), in May 2020, also tried to include the plan in a coronavirus relief package.
John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.
TAX EVADER APPLE - BIGGEST EMPLOYER
OF CHINESE SLAVE LABOR
Report: Apple’s Dystopian Digital ID Cards Are Partially Funded by Taxpayers
Apple is reportedly making taxpayers foot part of the bill for a project in which the tech giant plans to turn iPhones into digital identification cards, according to confidential documents obtained by CNBC.
In June, Apple announced that its users could soon store state-issued identification cards in the iPhone’s Wallet app, promoting it as a more secure and convenient way for customers to show their IDs in a variety of settings.
Apple’s bombshell and the trillion-dollar question (AFP)
But privacy experts find the concept questionable, as the move by Apple would effectively integrate identity into powerful mobile devices, raising concerns about the risk of dystopian scenarios involving surveillance.
Tim Cook prays for good fortune (Stephanie Keith /Getty)
Moreover, industry observers have also raised questions about why local authorities are giving up control of citizens’ identities to the tech giant, reports CNBC.
While Apple is known for its obsession with secrecy and typically forces potential partners to sign non-disclosure agreements, information about its partnership with the government can be found via public record requests.
Therefore, the contracts between Apple and states such as Georgia, Arizona, Kentucky, and Oklahoma provide a rare glimpse into the dealings of the tech giant, the report notes.
The agreement appears to give Apple a high degree of control over the government agencies responsible for issuing identification cards, according to information obtained by CNBC through public record requests.
Contracts signed by four states show that Apple will require states to maintain the systems needed to issue and service credentials, hire project managers to respond to Apple inquiries, market the feature, and push for its adoption with other government agencies — and all at taxpayer expense.
Documents also show that Apple has “sole discretion” for key aspects of the program, including what types of devices will be compatible with the digital IDs.
Others point out that a partnership like this would ultimately benefit Apple and its shareholders by making its devices even more essential than they already are.
“Apple’s interest is clear — sell more iPhones,” said Johns Hopkins Carey Business School professor Phillip Phan, who added that he is not sure why the states “think a partnership with one specific technology company that owns a closed ecosystem is the best way” to serve their citizens.
“For the state to spend taxpayer’s money on a product that serves only half its citizens is questionable,” Phan said.
According to fintech consultant and newsletter author, Jason Mikula, the dynamic is similar to the way in which Apple deals with vendors, but instead of getting paid by Apple, states must shoulder the financial burden of administering the programs.
“It’s like a vendor relationship, which makes no sense to me because it’s the states that have the monopoly on what they’re giving to Apple, they could presumably negotiate a much more equal contract,” Mikula said.
“I don’t know of any other example where government-owned systems and identity credentials were made available for commercial purposes in this manner,” he added.
Moreover, not only do the states have to “prominently feature the Program in all public-facing communications relating to Digital Identity Credentials,” but they also have to get all of their marketing efforts reviewed and approved by Apple.
Apple also shifts responsibility for confirming the authenticity of user identities onto the states, the report adds.
And these efforts are paid for by the states — which are funded by taxpayers.
Georgia and Arizona will be the first states to offer driver licenses on iPhone’s Wallet app, CNBC reports.
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