(ConservativePeak.com)- Former Vice President Joe Biden has long been considered a “moderate” Democrat but as part of a deal he made with far-left socialists in the Democratic Party to become the official nominee, he has begun pushing out some of the most extreme policies of any modern presidential candidate.
On Tuesday, presumptive Democratic presidential nominee Joe Biden released a new tax that is virtually identical to the one proposed by Vermont Senator Bernie Sanders. It is a new tax on real estate investors that will be used to pay for the cost of childcare for working-age adults.
“The Biden Plan for Mobilizing American Talent and Heart to Create a 21st Century Caregiving and Education Workforce” doesn’t just have a long name – it’s also really expensive. The plan will cost $775 billion over the next decade according to Biden’s team, and will be paid for “by rolling back unproductive and unequal tax breaks for real estate investors with incomes over $400,000 and taking steps to increase tax compliance for high-income earners.”
Is it just me, or does this sound like a particularly vindictive plan to slap huge taxes on President Donald Trump’s hugely successful and popular real estate empire?
The Democrats are putting forward the plan along with the messaging that Trump’s tax cuts are unfair. In reality, the tax cuts implemented by President Donald Trump were the biggest in history and led to record employment numbers. More Americans, before the COVID-19 pandemic hit, were in employment than at any other time in history.
When Democrats claim that Trump hasn’t put forward plans to improve childcare, that’s also a lie.
President Trump’s daughter and close adviser Ivanka Trump has been championing the president’s plans, which were introduced to the Senate in 2019. The plans put forward by the Trump administration were made as part of a bipartisan legislative effort, but it has been opposed at every step by Democrats who refuse to sign anything that the president supports. They criticize the measure because it doesn’t include new spending.
Instead, the president advocates a childcare system that lets people use money from future child tax credits to pay for that childcare.
Bloomberg News reported that the Biden administration is planning to focus on “like-kind exchanges,” as part of the new tax, which is a system that lets investors defer payment of taxes for real estate sold if they reinvest those capital gains in another property.
In short, the new plans put forward by Biden will cripple the real estate industry and make it extremely difficult for newcomers to enter.
So much for supporting the American dream, huh?