The Independent, a Russian newspaper that expresses the views of the government, recently published an editorial in which it satirized Biden‘s policy of raising taxes as a redistribution of wealth among the rich, no different from the socialist equality of the rich and poor in the former Soviet Union.
The article, titled “Biden as the Kremlin’s Chief Propaganda Officer,” is believed to be part of a series of Russian counterattacks following Biden’s criticism of Putin’s “interference in the U.S. election.” On March 16, Biden told ABC Putin is a “killer” and will “pay the price for meddling in the U.S. election.
The article derided Biden for giving Kremlin propaganda a chance to get a clear picture of the enemy’s latest reality: the current U.S. president and the American system. With thousands of books describing America’s bloody capitalist past during the Soviet era and movies about Indian reservations and black slavery, the article says, this line of thinking is now appropriate for the United States of 2021.
The article argues that raising taxes on the rich is actually a topic of wealth equality. The article says, “If the government raises the topic of (wealth) equality, it is pushing the public mind toward a discussion of issues related to redistributing the income of the wealthy through various means. This approach, however, reeks of stereotypes.”
The article further writes, “The historical equality of the rich and the poor in the Soviet Union was politically disenfranchised and led to the dissolution of the country (USSR).”
The article argues that the understanding of equality in societies where people are happier is that different people have equal access to different types of assets at different times in their lives. When people are young, the most important thing is to get a quality Education and find a promising and secure career. In middle age, the most important thing is to be able to buy a good house at a reasonable price; in old age, the most important thing is to acquire health-related assets.
The article argues that Russia has thus rejected a primitive income equality that does not take into account skills and the creation of real value for society.
Biden is reportedly mulling the first major federal tax increase since 1993 under his 2020 campaign promise, potentially repealing provisions related to Trump‘s 2017 tax law and raising corporate taxes and personal taxes on high-income earners.
The White House is expected to propose a series of tax hikes, according to people familiar with the matter. If the tax hikes are implemented, the corporate tax rate will be raised from 21 percent to 28 percent, personal income taxes will be raised for those earning more than $400,000, and a higher capital gains tax will be imposed on individuals earning at least $1 million a year, and the estate tax will be expanded.
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