Climate legislation passed the House that will be paid for by taxing the wealthy. Family and health care benefits passed the House that will be paid for by taxing the wealthy. Suddenly, there are votes for Senate passage due to a deal struck 48 hours ago between Senators Manchin and Schumer.
Both are examples of what Biden and House Progressives have pushed for the past two years — that taxing the wealthy will not hurt the non-wealthy.
In fact, it won’t hurt the wealthy either. (2)
It’s a win-win that Senate Minority Leader Mitch McConnell’s constituents can tolerate. (3) That McConnell won’t appear to simply reveals the spiteful, hurtful, epitome of hypocrisy that he is.
And Sen. Krysten Sinema is left flapping like a tattered flag in the dry winds of deficit-hawking about which even the Federal Reserve is circumspect. ““Dumb and arrogant,” as one observed.” (4)
The markets rebounded Thursday.
America’s climate redistribution initiative sparked new global respect. Another win.
And Sen. Joe Manchin got his oil-shale carve-out.
2- Taxing the wealthy has been rationalized as “pay your fair share.” More truthful and useful would be “pay your taxes.” If equality of access to public munificence entails equality of sacrifice for the common good, then following this proposition, all will benefit when all sacrifice, equally.
Daily is America reminded that this is not the case. The positive benefit of taxing the wealthy is a realignment of sacrifice for the common good: all who participate benefit.
3-July 29: 15 have been reported dead in Kentucky due to flash floods brought on by climate warming. (Source: AP)