The Democratic Party just keeps doubling down on stupid. After suffering a historic loss in the 2016 election, instead of trying to figure out why, they’re now pushing for new tax increases.
Are they completely insane?
The Washington Examiner reported:
Democrats push to tax ‘excessive’ employee pay
Democrats in the House and Senate have proposed new legislation aimed at ensuring that companies pay taxes on “excessive” employee pay.
The bill, from Rep. Lloyd Doggett, D-Texas, and Sen. Jack Reed, D-R.I., is meant to stop senior employees from getting huge bonuses that their companies can deduct from their corporate tax bill each year.
Under current law, companies can deduct employee salaries from their taxable income as long as those salaries don’t exceed $1 million per year. Democrats say companies are getting around that limit by paying out millions in bonuses that they also get to deduct from their tax bill.
Doggett said the bill would require companies to pay taxes on those millions in bonus awards.
Democrats just can’t stand it when people or companies are allowed to keep the money they’ve earned.
They believe the government can spend those dollars better than the hard working American people.
That’s why they lost!