With Democrats in power in Washington, D.C., tax-and-spend liberals are wringing their hands.
They have the best opportunity in decades to hike taxes on hundreds of millions of Americans.
And Nancy Pelosi just outlined what could be the worst new tax in American history.
After Democrats took control of both chambers of Congress at the start of the year, discussions immediately began over how many trillions in new spending the party would blow away through budget-busting Federal deficits.
But the Democrats aren’t just thinking of new ways to spend money they don’t have.
Now, many top Democrats on Capital Hill are mulling over new ways to take even more money out of the American economy and put it into the hands of Federal bureaucrats in Washington, D.C.
The New York Times – one of the chief media allies of the Democratic Party — had this to say about the Democrats’ latest tax proposal, “Opposition from a single moderate Democrat to corporate and income tax rate increases has revived efforts in the Senate to draft a tax on carbon dioxide pollution as a way to pay for the Democrats’ proposed $3.5 trillion budget bill.”
Who would be the top “moderate” Democrat who is helping to open the flood gates for this new tax proposal? None other than Arizona Senator Kyrsten Sinema, who has earned some sympathy from Republicans in recent months for derailing some of the most radical elements of the Democratic Party’s agenda.
But Sinema’s stance on taxes has given Democrats an opening for an aggressive new round of tax hikes just over a year after the American economy went into free-fall because of the COVID crash.
The New York Times adds, “Sen. Kyrsten Sinema, D-Ariz., has not advocated a carbon tax, which President Joe Biden and other key Democrats have shied away from as a huge political risk. But her resistance to tax rate increases to pay for the Democrats’ ambitious social policy and climate legislation has set off a scramble for alternatives — at the very least to show her how difficult it would be assemble a package without those rate hikes.”
Sinema’s opposition to other “traditional” forms of tax hikes on things like income or corporate taxes has prompted many Senate Democrats led by Chuck Schumer to contemplate instituting a carbon tax in one form or another, with many tag lines and buzzwords being thrown around like “carbon dividend” to obscure the fact that the party is contemplating a brand new tax on the American economy.
As for Sinema herself, the Arizona Senator had the following to say: “In Arizona, we’re all too familiar with the impacts of a changing climate … from increasing wildfires to the severe droughts, to shrinking water levels at Lake Mead, damage to critical infrastructure — these are all the things that we’re dealing with in Arizona every day,” she said. “We know that a changing climate costs Arizonans. And right now, we have the opportunity to pass smart policies to address it — looking forward to that.”
Only time will tell whether Democrats will be able to flip her vote in order to ram through a new carbon tax.
