Biden Tax Policies Favor Wealthy
In addition to being illegal, President Biden's attempt to grant loan forgiveness to college students transfers wealth from the working class to scions of the upper class. Fifty-six percent of the student debt is owed by people who went to grad school. None of this debt is owed by people who never went to college. Persons earning as much as $125,000 a year qualify for Biden's debt forgiveness program.
Likewise, subsidies for electric vehicles (EVs) assist wealthier Americans to purchase vehicles that are out of the price range of what the working class can afford. The majority of those receiving the government subsidies for purchasing EVs make over $100,000 per year.
Presidential Press Secretary Karine Jean-Pierre confessed that "the intention was not explicitly to benefit the wealthy at the expense of the working class, it just turns out that way because the behaviors of wealthier Americans are more in line with the Administration's social and environmental objectives. College is where out-dated ideas are replaced by correct progressive thinking. This is especially the case in elite schools like Harvard, Stanford, and the like, which because they are the most expensive to attend, also account for a disproportionate share of the student debt."
"As for the EV subsidies, in the old free market way of thinking, the wealthy were the first to adopt expensive new technologies," the Secretary said. "Their freely chosen purchases funded and helped reduce the cost of these technologies making them more feasible for ordinary people to buy. The problem is that free choices in the market place may take too long and lead to the wrong decisions being made. The President believes that as China's rapid modernization has demonstrated, government planning and subsidies can expedite the process and lead to better results."
Sen. Tom Cotton (R-Ark) said "the notion that any government can generate better decisions on how to invest for a better future is at odds with history. Countries that have adopted the socialist approach have a dismal record compared to economies where free markets direct the flow of resources between investors, consumers, and entrepreneurs. Biden's infatuation with China's socialist system is ignorant and destructive."
