Democrats on the House Ways and Means Committee used an arcane law, well over 100 years old that permits the Chairman Committee, Chair Richard Neal (D-Mass.), to review the personal tax filings of any American, in order to obtain Donald Trump’s personal tax filings from the IRS.

However, even in the hands of the committee, strict privacy laws still applied to the tax filings unless the committee interceded and voted to make them public.  That’s exactly what the Democrats in the committee did today with a party-line vote.

The Democrats have set a new precedent in congress for any party in power to demand the tax filings of any individual American and then release them to the public.  When the Republicans take control of the committee in January 2023, will they demand the Tax returns of Barack Obama, or Hillary Clinton or Joe Biden, or Mark Zuckerberg, or Chuck Schumer, or Jeffrey Epstein, or Nancy & Paul Pelosi and then make them public?

WASHINGTON DC – House Democrats said they will release several years worth of former President Donald Trump’s tax returns in the coming days after a party-line vote Tuesday night to make the long-hidden filings public.

Lawmakers said it would take some time to first redact sensitive information from the documents, such as Trump’s Social Security number and address.

[…] Neal had sued for the filings under an arcane law allowing the heads of Congress’s tax committees to examine anyone’s returns.

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A few months ago, amid all of the headline warnings about inflation and prices of essential products, CTH noted that if we were to continue waiting about six months, we would see a massive backlog of unsold goods and as a consequence the prices of non-essential durable goods would begin a rapid decline.  That exact scenario is about to unfold.

Keep in mind, this is not necessarily a collapse of total global economic activity; what we are seeing is a collapse of western nation economic activity that is impacting the rest of the world.  A great economic fracturing is taking place as the western nations intentionally shrink their economy.  The supplier nations are feeling the consequences.

Maersk is the international shipping company that delivers millions of containers of goods all around the world, mostly by ship.  They are warning that warehouses are full of previously delivered goods, unsold consumer durable goods, as retail sales have come to a standstill.

The amount of inventory in warehousing is so extreme, major wholesale and retail groups have run out of storage space (link).

COPENHAGEN, Aug 3 (Reuters) – Shipping group Maersk (MAERSKb.CO) expects global container demand to fall this year as sales of durable goods come to a “standstill”, leaving flat-screen TVs and furniture piling up in warehouses, the company said on Wednesday.

A surge in consumer demand and pandemic-related logjams holding up containers in key ports had boosted freight rates and profits in the shipping industry in recent quarters, yet the cost-of-living crisis has reversed that trend.

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Monmouth University conducted another political poll of U.S respondents [SEE Survey HERE].  In addition to the plummeting approval of Joe Biden, the worst yet approval at 36% according to the survey, the respondents were asked to list their top concerns (Question #7).

The responses were recorded but did not come from a list presented by Monmouth.  They just compiled the results.  As stated, “what is the biggest concern facing your family right now?”  The results show the top priorities of Americans and the disconnect between the priorities of congress and the American people are stark.

(Source, Question #7)

Nowhere on the expressed concerns did anyone identify supporting Ukraine or the Russia -v- Ukraine conflict, as a priority; yet, Ukraine has taken up almost all of the legislative effort from congress.  The total taxpayer-funded congressional spending is nearing $100 billion.  Additionally absent from the concerns of the American people, is any mention of the January 6th committee; again, another time wasted political exercise by a congress detached from the priorities of the electorate.

The top priorities are what we would expect to see, economic issues.  Inflation, Gas Prices, the Economy and the ability to pay everyday bills (groceries) are the priorities of the American people.  All of these issues are directly caused by Joe Biden and the policy of his administration.  Climate change, the #1 focus of the administration, is not even in the top ten.  We are in an abusive relationship with our own government.

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A major win for parents and school choice today in a 6-3 decision from the Supreme Court [pdf Ruling Here].  The high court ruled that Maine violated the Constitution by refusing to make public funds available for students to attend faith-based schools.  The ruling is broad and makes it clear when any state and/or local government choose to subsidize private schools or provide vouchers for school choice, they must allow families pay for religious schools.

Teachers’ unions, left-wing indoctrination institutions and the media are not happy with the Supreme Court decision.  The ruling now makes it possible for state or local school vouchers to be used for private, faith-based schools.  Those schools also have religious exemptions on the types of material and educators they allow in their education programs.

In the bigger picture the court has again affirmed ‘freedom of religion‘ not ‘freedom from religion‘.  Parents who wish their children to receive a moral and virtuous education should not be blocked by state and local politicians who promote sexualization of children, immoral conduct and alternative lifestyles for kids.  SCOTUS BLOG has background details including the dissent:

SCOTUS BLOG: – […] The dispute before the court in Carson v. Makin began as a challenge to the system that Maine uses to provide a free public education to school-aged children. In some of the state’s rural and sparsely populated areas, school districts opt not to run their own secondary schools. Instead, they choose one of two options: sending students to other public or private schools that the district designates, or paying tuition at the public or private school that each student selects. But in the latter case, state law allows government funds to be used only at schools that are nonsectarian – that is, schools that do not provide religious instruction.

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Sometimes things just fall on the side of the righteous.   The premise of the silly Manhattan case against Donald Trump was that he inflated the value of his real estate holdings in the city.  The DA was trying to make some kind of fraud case over it, but it always seemed ridiculous.

Consider the scenario, they are ultimately debating and trying to legally criminalize the subjective value of a physical asset.  Imagine the timing of such a case right now when the value of property is so high.

You tell a grand jury that Trump inflated the value, and then someone just asks what it’s worth, and the answer is, “well, right now, it’s worth a lot more than he claimed then,” and the silliness of the case gets worse.   I digress…

Splodey heads are happening today, because the two prosecutors in the case have quit, and the Manhattan district attorney says he doubts there’s any case here… and the salty tears of the far-left are crying, “curse you villain!”

(New York) – The two prosecutors leading the Manhattan district attorney’s investigation into former President Donald J. Trump and his business practices abruptly resigned on Wednesday amid a monthlong pause in their presentation of evidence to a grand jury, according to people with knowledge of the matter. The stunning development comes not long after the high-stakes inquiry appeared to be gaining momentum and throws its future into serious doubt.

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Florida Governor Ron DeSantis is proposing an interesting legislative approach to curb the White House illegal immigration process.  In essence, what the Florida legislature will be enacting are laws that restrict any private company from doing business in Florida if they are participating in the federal programs to distribute illegal aliens.

If a federal contractor facilitates the transport, housing or subsidy of an illegal alien into Florida the state will block that contractor from any state level business relationship.  “The legislation proposed today will make clear that the State of Florida will not provide any discretionary benefits to illegal aliens and will also prohibit state and local agencies from doing business with any private entities that facilitate the resettlement of illegal aliens in the state of Florida from the southern border. “

The outline is available [HERE], and the Florida Governor appeared on Fox News to discuss the legislation. WATCH:

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…. Meanwhile, in New York state they are back to forcing everyone to wear a mask or face a $1,000 fine.  The contrast in applied federalism is getting even more remarkable.

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Neel Kashkari is head of the Minneapolis Federal Reserve. If you know the financial lingo, you can see the dire forecast behind the opaque language.  In plain-speak, Kashari is saying when it comes to prices and inflation, “we’re screwed“…

In this interview with CBS talking head Margaret Brennan, Kashkari admits inflation is still going up, and it will get worse. Keep in mind, the lingo of the inflation conversation is discussing “percentages of change.” Kashkari claims the percentages of change will start to slow in a few years, but the prices will never return to their former level.

The percentage of inflationary change (this year vs last year) will continue going up, as prices continue to skyrocket over almost every sector. CTH points out this issue, because as the Fed continues printing current money, the value of future money drops and the price of goods continues to climb. The fast-turn goods rise in price quickest (now recorded at 6.2%), and the inflation on slow-turn durable goods lags but hits even harder.

Current real inflation inside the ‘total’ economy, the cumulative snowball that is coming down the mountain, is over 20% and still growing. This situation puts the forecast prices of 2022 goods at an alarming level. WATCH:

The fed has no tools to slow the rate of current inflation, as interest rates are disconnected {Revisit The New Dimension in Modern Economics} from the cost of goods produced. The only thing the Fed can do is to stop purchasing debt (Quantitative Easing), stop purchasing our own bonds, at a slower rate.

Despite being a progressive himself, even Neel Kashkari is telling congress to stop spending money.

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The bad news is this is an NBC poll conducted by Mark Murray and Hart Research and Associates.  They are notorious for manipulative media polling [Use Site Search Function for More].  The good news is this is an NBC/Mark Murray poll, meaning if this is the best Murray and Hart Research can come up with, the reality of the situation is exponentially worse.  [Polling pdf Here]

The data within the poll, which is skewed to try and assist the left, shows the nation overall has abandoned Joe Biden and the Democrat Party in a big way.

71 percent of Americans now say they believe the country is headed in the wrong direction, up 8 points since August. That includes 93 percent of Republicans, 70 of independents and even 48 percent of Democrats.  Beyond his catastrophic approval numbers, 50% of Americans polled say Joe Biden is incompetent / 37% view him as competent.

Chuck Todd sounds the alarm.  WATCH:

Additionally, not highlighted by any media review, the polling shows a collapse for the COVID fear and vaccination narrative.   The majority of the country now says they do not support mandatory vaccinations. [Page 17].   50% oppose mandates / 47% support mandates.

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At 1:00am on August 25th, Nancy Pelosi and House Democrats came to an agreement on a massive spending proposal. The Senate previously passed a $1.5 trillion “infrastructure” bill, and a group of 9 House moderates -led by Josh Gottheimer- wanted to see it pass. However, the far-left progressive caucus wanted their $3.5 trillion social spending package which includes Green New Deal spending passed as part of the total budget agenda. {Go Deep}  For the past two months, the House Democrats have been working with Senate Democrats on the scale of the social spending package.

The ultra far-left communists and Democrat socialists have been negotiating on the social spending part.  They agreed to settle for 1.75 trillion in fundamental change and there’s approximately 10 House republicans that will also support it, but the AOC wing wants more.   The previously passed $1.5 trillion sits on Nancy Pelosi’s desk until it can be paired with the $1.75+ trillion social spending component.

The House Rules Committee is putting the legislative language together for the latest 1,600 page social spending part [you can see here], but the issue of constructing a bill that will pass the Senate is still problematic.  Pelosi was hoping for a vote today, and Joe Biden begged Democrats earlier to get it passed because his polling numbers continue to collapse.   The communists (AOC/Bernie Sanders caucus) and socialists (ordinary Democrats) are at loggerheads.

WASHINGTON – […] Speaker Nancy Pelosi and her leadership team were ultimately unable to win over dozens of dug-in liberals in time for a Thursday evening vote. House liberals said they want to review the legislative text of $1.75 trillion social spending legislation the White House outlined Thursday and get a commitment of support from centrist Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) — something the two have not outright given.

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Taxing “unrealized capital gains” sounds like a catchy and obscure way to make wealthy people pay more in taxes, but it doesn’t work.  A government that moves in this direction ignores the reality that people are not static.  The process also involves “taxing wealth” which then becomes an arbitrary definition.

Unrealized capital gains are not income, they are simply increases in value.

If your home was worth $200,000 last year and $300,000 this year, you have an unrealized capital gain of $100k.   A 15% tax bill on that value increase means the homeowner would have to pay $15,000 to the IRS.

Joe Biden is proposing to pay for his multi-trillion expansion in debt through this type of tax upon billionaires.   Treasury Secretary Janet Yellen admitted this was part of their thinking to help pay for the Biden budget last Sunday.  WATCH:

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Proposing a tax on money that does not exist is the peak of government.   Sure the proposal applies only to billionaires who have massive gains in their stock portfolios, but billionaires are not esoteric titles.  Billionaires are people who can, if needed, move their physical location and avoid any U.S. tax on their wealth.

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