5 banks fail … as Biden lays out 13 new taxes. In the past 100 hours, Signature bank has failed and also Silicon Valley Bank (represents the second and third largest bank failures in history). Also recently, Silvergate, Voyager and Three Arrows Capital have fallen in the past few weeks. Let’s examine these one at a time. Not to put too fine a point on the first one, but to clarify Biden’s remarks on Monday morning when he said “taxpayer money won’t be used to bail out” these failed banking institutions. I guess that’s not as much of a lie, as it is a smoke and mirrors routine, a favorite ploy of this White House. The money to be used to fix the problems will come from the FDIC fund. Of course, to replace the bailout money, all banks will start having to pay additional fees to fill the coffers back up again. While the taxpayer won’t pay more in taxes to make up for it, they will DEFINITELY pay more interest on their credit cards or their next car loan. Lyin’ Biden can spin it however he wants to, but money is money. It doesn’t matter which pocket it comes out of. It’s coming out of the taxpayer’s pockets one way or the other. As for his 13 new taxes:” Biden promised to raise taxes only on people who make $400,000 or more. Yet, his capital gains tax will hit everyone regardless of income. Biden’s Budget surtax hits families who make $250,000. His digital currency tax will raise the price for everyone who uses digital investments.”
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