RUTHFULLY YOURS

https://issuesinsights.com/2021/10/04/the-research-that-shows-how-destructive-the-biden-spending-will-be/

It’s truly frightening how obsessed the Democrats are with spending nearly $5 trillion on infrastructure and social programs. They’re behaving as if our republic would buckle and collapse if their agenda isn’t passed. The real danger, though, are their ideas, which are economic IEDs.

More than 20 years ago, UCLA professors Lee Ohanian and Harold Cole, now a University of Pennsylvania professor, produced a report that showed President Franklin D. Roosevelt’s policies not only didn’t end the Great Depression, they extended the misery by seven years. Simply put, there was too much government intervention in the economy.

FDR’s policies and those of President Joe Biden and the Democrats are not entirely analogous. Ohanian and Cole focused “primarily on the impact of Roosevelt’s early policies that allowed for monopolies and too much union power to increase prices and salaries.” The Democrats’ bills are mostly, but not exclusively, about spending other people’s money.

Another difference: We are not in a depression. The country is recovering from a downturn caused by officials foolishly locking down the economy, which they told us was necessary to beat the pandemic.

However, we can expect at best a sclerotic economy, and depression-like conditions, if the Biden bills become law. The unbridled spending will exacerbate the inflation that’s disrupting the U.S. economy as well as compound the supply chain problems that are blowing “a stagflationary wind through the global economy.”

Citadel professor of ethics and free enterprise leadership Richard Ebeling calls “the fiscal mindset of those in the White House and in Congress who are proposing new federal budgetary expenditure,” and tax hikes “in the trillions of dollars,” a “fantasy land of financial irrationality.”

https://www.wsj.com/articles/internal-revenue-service-irs-rettig-yellen-brady-bank-account-tax-proposal-revenue-privacy-data-breach-11633287461?mod=opinion_lead_pos1

On your next trip to the ATM, imagine that Uncle Sam is looking over your shoulder. As if your annual tax filing wasn’t invasive enough, the Biden Administration would like a look at your checking account.

Charles Rettig, commissioner of the Internal Revenue Service, wants banks to report annual cash flows for ordinary account holders. Treasury Secretary Janet Yellen is promoting the plan, and the House Ways and Means Committee is debating whether to include this mandate in the Democrats’ $3.5 trillion spending bill.

Ms. Yellen says the reporting will help to catch wealthy tax dodgers. In a recent letter to the committee she said the plan would reveal “opaque income streams that disproportionately accrue to the top.” Treasury and congressional Democrats hope taxpayers will report income more accurately if they know the feds have their account information.

Yet the IRS plans to review every account above a $600 balance, or with more than $600 of transactions in a year. So every American with a job could get looked over. A group of 41 industry groups recently warned congressional leaders that the plan “is not remotely targeted” to detect major tax avoidance.

It’s also a privacy breach waiting to happen. Not long ago the confidential tax records of Jeff Bezos, Mike Bloomberg and other wealthy Americans were exposed by ProPublica. Whoever leaked or hacked those records committed a crime, but the IRS has revealed nothing from its promised investigation. Adding bank account info to the IRS trove would risk the disclosure of savings and spending information of political adversaries in the same way.

https://www.gatestoneinstitute.org/17831/president-advisors

Published reports reveal that John Podesta, Bill Clinton’s former chief of staff and senior counselor to Barack Obama, has sent a memo to every Democratic Congressman reminding them the party “must unite and act together” to pass Biden’s “infrastructure” agenda.

Podesta, according to an email released from Wikileaks, was also previously approached by an advisor to Dominion Voting Systems who was “offering ‘anything’ that might defeat Trump.” What was the advisor to the voting machines company offering?

Podesta’s older brother, Tony, was a long time mega Democratic lobbyist and fund raiser. His lobbying career has been resurrected with a New York Times report that the embattled Chinese telecommunications giant Huawei has hired Podesta. Huawei was identified as a national security threat by the Trump administration and faces federal charges of racketeering and conspiring to steal trade secrets from American companies. One supposes that Podesta’s retainer is in dollars and requires him to promote the interests of a company alleged to be an extension of the Chinese government.

Given Biden’s curious response to ABC News, one could legitimately ask, just whose national policy are we actually pursuing? The president’s or his advisors?

Henry the VIII had Thomas Cromwell as his Privy Counselor with Cromwell playing a vital role in the King’s personal, domestic, and international relationships.

Napoleon depended on Talleyrand as his Grand Chamberlain, a master diplomat who managed to serve King Louis XVI, the leaders of the French Revolution, and then Napoleon.