…yeah, you know what’s in it already, don’t you? That “People’s” bit is what we call a tell: a promise of big, honking wholesale confiscation of Other People’s (Not Really The Real People) Money. And lo! – this is precisely what the Congressional Progressive Caucus wants to do:
- Increase payroll taxes. Both sides.
- Reintroduce the tax hikes on small businesses that were threatened last year.
- Impose new tax hikes on highest bracket, reaching 47%.
- New taxes on foreign earnings.
- “Crisis responsibility fee.” Which sounds better than “Soak stockholders of banks for accepting TARP money tax.”
- “Financial speculation tax.” Which sounds better than “the twenty-first century equivalent of the Stamp Act:” it’s a tax on electronic stock transactions.
- $1,450,000,000,000 in new spending.
- Public option.
- Cuts to military.