Tag: Joe Biden

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education and schooling national politics & policies tax policy

Trump to Ax Tip Tax

Joe Biden, taxes, tipping, student loans, buying votes, debt

When Biden panders to his lower-​income supporters, he targets zeroing out their student debt and regulating credit card companies with further restrictions on their ability to charge for overdrafts and the like.

When Trump panders to his lower-​income supporters, he promises to exempt tips from income taxation, as he did recently in Las Vegas.

This may be the most obvious difference between left- and right-​styles in politicking to the masses, good-ol’-fashioned vote-​buying or its twin: leftists forgive debts and add regulations, rightists reduce taxes.

Like me, you may, at first blanch, prefer the latter form of pandering, but Eric Boehm, at Reason, offers some reasons not to look so kindly on Trump’s pandering. First, and most obviously: “Reducing revenue without identifying offsetting spending cuts means Trump is merely promising to borrow more heavily.”

A bigger challenge comes later: “On the surface, that sounds great. But there’s already one likely unintended consequence: A lot more income will suddenly be reported as tips. Any time a government gives preferential tax treatment to one type of economic activity, you tend to get a lot more of that type of economic activity. Does that mean we’ll have an entirely tip-​based economy?” The answer is a likely No.

Oddly, Mr. Boehm doesn’t address one obvious element: Tips aren’t wages and they aren’t profits. Tips are gifts. They aren’t determined by employers and they aren’t specified by employees. And gifts aren’t taxed as income like other income is.

So letting people who accept tips in the course of their labors not pay taxes on them is really, really hard to object to.

In fact, I don’t object.

This is Common Sense. I’m Paul Jacob.

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Accountability folly political economy

Inflation & the Infirm Incumbent

Joe Biden, inflation, economy

“From President Joe Biden’s point of view, Americans ought to be thrilled with the recent trends in inflation,” writes Eric Boehm at Reason, who quotes the president: “Wages keep going up and inflation keeps coming down.”

True enough, but, Mr. Boehm goes on, “pointing at the charts and regurgitating economic figures doesn’t seem to be as convincing as the president might hope.”

You’ve seen the left-​of-​center memes mocking Americans for thinking the economy is bad when it is, instead, g‑gr-​great!

But prices for food and gasoline, after the big bulge caused by all those COVID checks and subsidies, did not go back down to previous levels. And rising wages after the “Great Suppression” of the lockdowns seem at best a verypartial return to better times.

Boehm offers some context. “It makes sense that the recent run of inflation would leave a psychological scar. After all, the peak inflation rate of 9.1 percent in June 2022 was not only the highest annualized rate seen in more than four decades, it was also more than twice as high as the average inflation rate in any year since 1991.…” And inflation has not stopped. “In March, the annual inflation rate was 3.5 percent. Yes, that’s 60 percent lower than the peak rate in June 2022, but that’s still higher than the average annual rate in every single year between 1991 and 2021, except for 2008.”

And then there’s the higher interest rates, which, Boehm plausibly asserts, compounds our perceptions that “inflation is a major problem.”

This is a huge issue for Biden. Boehm cites the political lore: “If you’re explaining, you’re losing,” and notes that, “unfortunately for Biden, his task in the run-​up to November’s presidential election is explaining to people that they shouldn’t feel like inflation is still a problem.”

Who you gonna believe: Your cash register receipts or a feeble, corrupt, multi-​millionaire lifelong politician?

This is Common Sense. I’m Paul Jacob.

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national politics & policies partisanship

Hypocrisy’s Cash Value

Donald Trump, Joe Biden, court, campaign contributions

“If these corrupt Democrats didn’t have HYPOCRISY,” the Republican National Committee explained, “they’d have NOTHING!”

After months of Biden surrogates savaging former President Donald Trump for the dastardly deed of using campaign monies to cover his mounting legal fees from the plethora of trumped-​up indictments brought by partisan Democratic prosecutors, it turns out the Democrats have been doing the same thing.

The BBC noted: “Democratic donors paid at least $1.7m (£1.35m) of U.S. President Joe Biden’s legal fees during the investigation into his handling of classified documents, records show.”

“We are not spending money on legal bills or hawking gold sneakers,” Rufus Gifford, finance chair of the Biden campaign, told MSNBC only days before the news broke.

Highly questionable that Biden could sell anyone a sneaker, but the other claim was a provable lie.

“The use of party funds to cover Biden’s legal bills is not without precedent and falls within the bounds of campaign finance law,” the Associated Press article quickly informed, before adding that it “could cloud Biden’s ability to continue to hammer former President Donald Trump over his far more extensive use of donor funds to cover his legal bills.”

How unfortunate! The hypocrisy could ruin the piling on by Democrats.

“Democrats say the cases are nothing alike,” The Washington Post reported.

“There is no comparison,” offered a Democratic National Committee spokesman. “The DNC does not spend a single penny of grass-​roots donors’ money on legal bills, unlike Donald Trump, who actively solicits legal fees from his supporters …”

Let’s get this straight: the difference is that Trump is upfront in asking his middle-​class supporters for help, while Biden’s money came surreptitiously from wealthy Democrats?

This must be the proverbial dime’s worth of difference between the parties.

This is Common Sense. I’m Paul Jacob.

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First Amendment rights national politics & policies political challengers

The RFK Challenge

Joe Biden, censorship, surveillance

Yes, but …

When contemplating a candidate for office we may like, we do a lot of “Yes, but” thinking. It’s impossible not to.

Yesterday I considered the candidacy of Bobby Kennedy, Jr., in the context of the Republican/​Democrat Duopoly™. Many of my readers may like his stances on COVID or war, but worry about other positions, like the Second Amendment and “climate change.”

Yes, but … there is another Yes, But context: the candidate forces mainstream voters and media manipulators to Yes, But their cherished positions.

Yes, Trump was “a threat to democracy” for trying to “overturn an election.” RFK, Jr. grants that Democrat talking point. 

But when pressed by Erin Burnett of CNN, his response was a challenge: “I can make the argument that President Biden is the much worse threat to democracy, and the reason for that is President Biden is the first candidate in history — the first president in history — that has used the federal agencies to censor political speech, so to censor his opponent.”

Now your and my response might be, No, but …

As in, he was certainly not the first president in American history to directly censor political speech.

But the presidents who did that are all heroes to the CNN crowd, so they’ll have to say, “Yes, but …”

But what? What’s the response? 

The CNN article, linked above, was lame: “‘With a straight face Robert F. Kennedy Jr. said that Joe Biden is a bigger threat to democracy than Donald Trump because he was barred from pushing conspiracy theories online,’ DNC senior adviser Mary Beth Cahill said in a statement. ‘There is no comparison to summoning a mob to the Capitol and promising to be a dictator on day one.…’”

What CNN and the DNC and the whole establishment ignore is the vast suppression of thousands, millions of voices online, organized by the government and ex-​government and close-​to-​government operatives.

Yes, but … they like censoring their competition!

This is Common Sense. I’m Paul Jacob.

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regulation subsidy

The Hail of It

Joe Biden, energy, green energy, spending

Early yesterday, an out-​of-​control container ship ran into the Francis Scott Key Bridge over the Patapsco River in Baltimore. Early reports claimed that a dozen vehicles and 20 people went into the cold water, with only two survivors, so far, being rescued; last I heard, however, the total went down to six missing after the initial rescues.

It looks like an accident, and accidents happen, sometimes horrific ones. There’s a reason “thoughts and prayers” are mentioned at such times, all other talk seeming vastly inappropriate.

Nevertheless, President Joe Biden immediately promised that the federal government would pay to replace the bridge.

Eleven days earlier a more humdrum disaster gave us greater license to speculate. “Thousands of panels on a solar farm southwest of Houston, Texas, were damaged by a powerful hailstorm on March 15,” a Newsweek report informs us. “Aerial footage showed rows of cracked photovoltaic cells at the Fighting Jays Solar Farm near Needville in Fort Bend County.…” A vast array of solar panels, ruined by something not unheard-​of in Texas: “baseball-​sized hail stones” falling from the sky.

And seeping out of the panels? Toxic chemicals.

This is something that we, the voting public, must confront: the fact that most “green energy” replacements are fragile and often environmentally hazardous. Compared to natural gas they are ecological disasters.

While Joe Biden yammers about funding a new bridge, we need to force a more important conversation, about removing subsidies for pseudo-​green alternative energy sources. 

To save us from the poorhouse as well as from environmental disaster.

This is Common Sense. I’m Paul Jacob.

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crime and punishment ideological culture national politics & policies

Unpresidential but Precedented

Joe Biden, SOTU, State of the Union

President Biden may be doddering, dithering, and cranky, but his writers are mis-​educated dolts.

The State of the Union address, last week, was performed before Congress by a man so hopped-​up on stimulants that … one looks for precedents. Not among the U.S. Presidents, though, but among the Chancellors — the “schkankily clankily” guy, as Norm Macdonald referred to him; the man who is known to have been on drugs.

I bring up precedents because Biden’s writers did — idiotically.

The address began by memorializing President Franklin Delano Roosevelt’s 1941 address before Congress, in which FDR used the word “unprecedented.” Biden’s speech writers take this as an occasion to use the word. “Now it is we who face an unprecedented moment in the history of the Union.”

And then proceed to mention more precedents for the “unprecedentedness” of it all.

It’s almost as if they don’t know the meaning of their keyword.

The biggest precedent is the pure partisan nature of the message, which — instead of performing a sober constitutional duty to give Congress the president’s view of the union of the states — has become, in recent years, a simplistic barrage of invective against the president’s opposing party.

This year’s SOTU address was worse than ever on the partisan divide, with “populist” attacks upon the SCOTUS for allowing Roe v. Wade to fall, and relentless attacks on Republicans. The most interesting and substantive topic was Social Security, with the usual (quite precedented) promise to shore it up with tax increases … on the rich. (Reason magazine took the idea seriously and found its fault.)

Thankfully, Biden’s writers avoided the biggest State of the Union cliché of all: the traditional pronouncement that the state of the union “is sound.”

It is not.

This is Common Sense. I’m Paul Jacob.

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