The RAND International Security and Defense Policy Center issued a report last month on China’s increasing power and influence around the world.
Between 1998 and 2018 China’s official foreign lending grew from almost nothing to $1.6 trillion, eclipsing loans from the World Bank and International Monetary Fund (IMF).
Spending on the influential Chinese Belt and Road Initiative is actually surpassed by Chinese foreign direct investments (FDI), according to the report.
And money comes with strings attached.
Kudos to the Biden Administration for blacklisting 30 China firms for human rights abuse, yet at the same time, Biden’s home state of Delaware has just given a $19 million taxpayer grant to Shanghai-based biopharmaceutical company WuXi AppTec, which is collecting DNA data.
Anthony Fauci, under questioning from Rand Paul this week, claimed he does not support gain of function research, after running the NIH for decades, which funds gain of function research. Oh, and also approved digging up the Spanish Flu!
No word if Lois Lerner is coming out of retirement to use the new IRS power exclusively on conservatives.
Biden’s doubling the capital gains tax rate would decrease, instead of increase, federal revenue by $33 billion over 10 years, since investors exploit loopholes to avoid paying high rates, according to analysis by Penn Wharton.
So, Biden needs an additional death tax to grab up “unrealized capital gains” to prevent families from passing down wealth, which communists believe is better spent by bureaucrats.
KEY MONEY GRABS
Top rates on long term capital gains, dividends to 43.4% (record high)
IRS gets annual report on your bank accounts.
Second “Biden death tax” on top of current one for unrealized capital gains.
Top personal income tax rate from 37 percent to 39.6 percent.
New “Seniors and small businesses” 3.8 % surtax on Social Security payments, 401(k)s and pensions, IRA distributions, and small business S-corp and partnership profits for those making more than $400k per year.