During Speaker Nancy Pelosi’s weekly press conference, Pelosi said she is a “big supporter” of cutting taxes for rich Americans in President Joe Biden’s ‘infrastructure” bill confusing everyone who has heard that Biden is going to raise taxes on the rich.
Brookings Researchers commented in September of 2020 about the SALT (State and Local Taxes) tax that Pelosi discusses in the video below, calling it a “massive tax cut for the rich.”
The current push from Democrats to lift the cap on the federal tax deduction for state and local taxes (SALT)—which would be a massive tax cut for the rich. Before the 2017 Tax Cuts and Jobs Act (TCJA), taxes paid to state and local governments could be deducted against Federal income taxes. But the TCJA capped this benefit at $10,000 a year, hitting the wallets of high earners living in high-tax cities and states.
It appears as though Pelosi wants to have it both ways on whether Biden raises or lowers taxes on the rich.
What was even more shocking is Pelosi said, “I would say that I would withhold any comment about whether to vote for a bill or not until you see what the bill is…” Didn’t Pelosi say that when Congress voted for Obamacare, we have to pass the bill to see what’s in it?
Democrats are repeatedly conflicting themselves when it benefits their latest political agenda. In this case, Pelosi is trying to dodge saying whether she would vote on Biden’s “infrastructure”/Green New Deal bill.
“I would say that I would withhold any comment about whether to vote for a bill or not until you see what the bill is…”
Interestingly, the Brookings researchers mention race and inequality as a motivation for harming the wealthy whites by taxing them to death. This is full-on racist, and even worse is socialism, where the government tries to make everyone equal by punishing the hard-working, successful people.
Given a renewed focus on racial inequalities, it is also worth pointing out that families at the top of the income distribution are disproportionately white, both for the top fifth and especially the top one percent—which is 90 percent white.