BIDENOMICS - THE DEMOCRATS HAVE DESTROYED MIDDLE AMERICA AND NOW THEY WILL BLUDGEON YOUR RETIRMENT AS THE SUPER RICH SAIL ON

  JOE BIDEN  -  No. 1 DANGER TO AMERICA!

Sen. Cruz's comments on impeaching Biden 'being talked about more and more': Rep. Murphy

https://www.youtube.com/watch?v=ABwwMZC0K_U

The Fed & Government Has Destroyed The Dream Of Retirement Forever

https://www.youtube.com/watch?v=py4oIqIVYXs

This Economy is Never Going Back to Normal - Headed to the Abyss

https://www.youtube.com/watch?v=UpeU2ffz3Qs

China, Germany, and the U.S. Economies are Rapidly Slowing

https://www.youtube.com/watch?v=jAkmV08TyFw

From China to Germany, to the U.S., the global economy is rapidly slowing. In today's show, you'll learn why a global recession is imminent. As global growth slows, demand wanes, and central bankers are forced to chase inflation, the probabilities are increasing that a global recession is imminent.

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.

Profits of Doom: Globalist Elites Doubled Their Wealth During Coronavirus Pandemic

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Getty Images

SIMON KENT

17 Jan 20220

2:56

As the world was buffeted by a coronavirus tsunami leaving forced lockdowns, supply-chain problems, economic upheaval, and poverty in its wake, globalist financial elites “have had a terrific pandemic” according to a report released Monday.

The world’s 10 richest men have more than doubled their fortunes to $1.9 trillion, at a rate of $1.6 billion a day, over the past 12 months, proving elites have largely been spared the misery and financial ruin inflicted on so many by endless enforced lockdowns.

A confederation of charities that focus on alleviating global poverty, Oxfam said members of the globalist financial elites saw their wealth rose more during the pandemic more than it did the previous 14 years, when the world economy was suffering the worst recession since the Wall Street Crash of 1929.

These are some of the main points from Oxfam’s latest report, Inequality Kills, which has been released as global business leaders meet virtually this week for the World Economic Forum (WEF) in Davos, Switzerland.

“We have a situation where 10 men hold more wealth than that of two-thirds of humanity,” Lyn Morgain, chief executive of Oxfam Australia, told Australia’s ABC news outlet.

“Not only that, but that bottom 40 percent are hanging on by a thread.”

The report highlights what the charity says are “unprecedented” levels of global inequality as coronavirus sharpens the divide between “us and them,” the “haves and have nots.”

Jeff Bezos speaks about his flight on Blue Origin’s New Shepard into space during a press conference on July 20, 2021 in Van Horn, Texas. (Joe Raedle/Getty Images)

Meanwhile the likes of Tesla co-founder Elon Musk, Amazon’s Jeff Bezos, and Facebook’s Mark Zuckerberg, enjoyed the greatest year-on-year growth since records began, the report outlined.

At a time when a group of these men were using their riches to rocket into outer space, the charity said, the World Bank had projected that more than 160 million people had been pushed into poverty.

In all, 20 new “pandemic billionaires” have also been created in Asia thanks to the international response to coronavirus, according to the charity.

Forbes listed the world’s 10 richest men as: Tesla and SpaceX chief Elon Musk, Amazon’s Jeff Bezos, Google founders Larry Page and Sergey Brin, Facebook’s Mark Zuckerberg, former Microsoft CEOs Bill Gates and Steve Ballmer, former Oracle CEO Larry Ellison, U.S. investor Warren Buffet and the head of the French luxury group LVMH, Bernard Arnault.

The Oxfam report follows a December 2021 study by the group which found that the share of global wealth of the world’s richest people soared at a record pace during the pandemic.

Follow Simon Kent on Twitter:  or e-mail to: skent@breitbart.com

Democrats: $625B Tax Cut for Wealthy Elite ‘Essential’ Ahead of Midterms

Sean Gallup/Chip Somodevilla/Jeff Gentner/Drew Angerer/Getty Images

JOHN BINDER

11 Jan 20220

3:30

Democrats say cutting hundreds of billions of dollars in taxes for mostly wealthy income-earners in coastal states is “essential” to getting reelected in this year’s midterm elections.

In November, House Democrats passed President Joe Biden’s “Build Back Better Act” which includes billions in tax breaks to the wealthiest residents of blue states. Specifically, the plan would give a tax cut to about 67 percent of the nation’s richest Americans — those earning more than $885,000 every year — costing taxpayers about $625 billion.

Under Biden’s plan, those in the top one percent would receive an average tax cut of more than $16,000 this year. The tax cuts for the wealthy would be a result of the plan’s increasing the State and Local Tax (SALT) deduction cap.

Ahead of the midterm elections in November, House Democrats are warning their rich donors that they must get out and vote for them to secure the massive tax cut. Rep. Sean Patrick Maloney (D-NY) called the tax cuts for the rich “essential” in an interview with Bloomberg News.

 

Chart via Bloomberg News

“We need to get that done. It’s not the only thing, but it’s a big thing,” Maloney said, who represents one of New York’s wealthiest areas — Westchester County. Rep. Haley Stevens (D-MI) called the tax cut “really important” for her constituency.

“If you want your state and local deductions back, you have to vote for Democrats. Republicans screwed you last time, and they’ll do it again,” Maloney said.

At the same time, a number of Democrats are blasting the effort, including Rep. Alexandria Ocasio-Cortez (D-NY), Sen. Bernie Sanders (I-VT), and Rep. Jared Golden (D-ME).

 

Sanders has said:

At a time of massive income and wealth inequality, the last thing we should be doing is giving more tax breaks to the very rich. Democrats campaigned and won on an agenda that demands that the very wealthy finally pay their fair share, not one that gives them more tax breaks.

Meanwhile, Democrats want to squeeze an extra $200 billion out of American taxpayers by mostly targeting working and middle class earners with more Internal Revenue Services (IRS) audits.

The plan ensures nearly 600,000 more working and middle class Americans earning $75,000 or less a year would be audited by the IRS. Of those new IRS audits, more than 313,000 would target the poorest of Americans who earn $25,000 or less a year.

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.