Every month we devote posts to just general political class insanity that is running rampant through the country. The members of the American political class continue to show that they are incapable of efficiently operating any level of government in this country.
Even their best efforts are almost always ineffective at resolving any problem facing Americans. They spend a great amount of time not trying to improve the lives of their citizens but continually ensuring their reelection and enriching themselves, their families, and their friends in the process, all at taxpayer expense.
1)We have made a career talking about the corruption of the American political class, how their self-enrichment is far more important than serving Americans. This corruption culture exists at all levels of government, from the Federal government in D.C. to the smallest town governments across the country.
Recently, alleged corruption was exposed in the biggest city in the country, New York City:
Recently, the FBI raided the homes of five high ranking members of the New York City mayor’s staff, Eric Adams.
The FBI agents seized electronic devices during their home searches.
The five folks being raided included two deputy mayors, the city’s school chancellor, the NYPD commissioner and an advisor to the mayor.
Oh, in case we forget, the mayor himself is under scrutiny for election campaign fundraising and possible ties to the Turkish government.
Edward Caban, the NYPD commissioner, not only had his home raided and his phone taken by the FBI, other high ranking NYPD people also had their phones confiscated.
The good news is that in this country these folks are assumed innocent until proven guilty. The other good news is that if these folks were actually involved in self enrichment and illegal activities, it is refreshing that maybe some political folks will actually and finally face consequences for their actions.
2)Speaking of corruption, we have often talked about Hunter Biden, Joe Biden’s son, and his shady dealings with shady characters around the world, from the Ukraine to Russia to China among other countries. Congressional hearings have previously found upwards of 20 shell companies that the Biden family used to launder money and enrich themselves.
Hunter Biden has already been found guilty of Federal gun charges and then surprised the world this past week when he pleaded guilty to tax evasion. He was accused of evading taxes to the tune of $1.4 million.
And he did not plead guilty to just one or two charges but nine tax evasion charges, indicating that this was a very involved tax con or incredibly stupid tax preparation. These transgressions allegedly occurred between 2016 and 2019. His sentencing will be later this year in December. He is also facing up to 25 years of prison time for his gun charges.
All of which raises the question: will he actually go to prison for his illegal income tax and gun actions or will his daddy rescue him, and shield the Biden family’s money laundering and influence peddling schemes, by giving him Presidential pardons? One theory is that he pleaded guilty now rather than go through a trial because the trial may extend past his father’s Presidency and thus, he could not then be pardoned by dad.
Given the political class we have discussed over the years, the smart betting money is that Hunter Biden will not spend a single day in prison for his felonious behavior. Time will tell. If you or I committed these law breaking actions there is not doubt we are going to prison.
3)We have all too often discussed the failures of the Biden Presidency across so many different dimensions: illegal immigration, foreign affairs and diplomacy, economic policy, etc. But he has also been outstanding in overwhelming the country with Federal government’s national debt:
In fiscal 2023, the Federal government via the Biden administration spent a mind boggling $6,200,000,000,000.
That comes out to about $17 billion a DAY.
Furthermore, it comes out to $700 million an HOUR.
The Federal government collected $4.7 TRILLION in taxes in 2023, probably the most money EVER collected by any level of any government in any country and yet Biden spent $1.5 TRILLION more than what was collected, about 32% over his tax revenue budget.
As we have calculated in the past, at a national debt $35 TRILLION, mush of which was created by the Obama/Biden and Biden/Harris administrations, every man/woman/kid in the country would have to write a check for $100,000 each to pay off the debt, of which just in 2023 was $1.5 TRILLION.
All of which leads to this very distressing reality: all of this debt means that every year the American taxpayer is paying $1 TRILLION just to service the national debt. Not pay down the debt, just cover the interest payments.
And that burden is only growing since career politicians like Joe Biden have neither the ability, the brains, or desire to get government spending under control.
4)We have previously shown two wonderful examples that illustrates why it is is always stupid of politicians to continue to raise taxes in that more often than not when taxes rates are raised, tax revenue actually goes down:
Several years ago, the French raised the tax rates on wealthy earners in the country.
Rather than get increased tax revenue, the tax revenue from these wealthy earners as a group actually went down as the wealthy just left the country to lower taxing countries, taking their tax revenue with them.
A similar thing happened to the state of Maryland, also a few years ago.
The state government raised the tax rates on those citizens earning more than a million dollars a year.
Several years later, the tax revenue from state citizens earning over a million dollars a year had actually shrunk, despite a higher tax rate, since the wealthy citizens simply had the resources to move out of state to lower taxation states, taking their tax revenue with them.
And despite this history lesson, politicians rarely learn from history:
United Kingdom politicians are planning to raise the tax rates on the wealthy citizens in the country.
Reports are surfacing that high earning bankers, entrepreneurs, and business executives are already either planning to leave the country or have done so already even though the new higher tax rate on the wealthy have even become law yet.
Countries they are heading for include Italy, the United Arab Emirates, and Switzerland, all countries with much friendlier tax rates.
According to an article which, unfortunately I deleted by mistake, “In a world that should favor growth, it’s time for policymakers in Britain and similarly afflicted regions to understand that punitive taxation does not build successful economies; it merely depletes them.”
Whether in France, England, Maryland or blue states, continuing to increase the tax rate on the wealthy only drives the wealthy to other, more tax friendly environs. But politicians continue to be too ignorant to understand basic human nature.
That will do it for today: alleged corruption in NYC, alleged corruption in the Biden family, national debt still out of control, and stupid politicians continue to be economic idiots.
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If you agree that we need to deseat every member of Congress for their lack of success and accomplishment, then please consider going to the following petition link to help the cause:
https://www.change.org/p/deseat-congress-reset-freedom
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