Biden’s Tax Plan That Puts America Last

I am often asked if President Joe Biden is intentionally trying to dismantle the American economy with his terrible energy, climate change, crime, border, inflation, and debt policies. But I’ve always believed these policies are driven by a badly mistaken ideology—not malice.

Then I watched Biden’s State of the Union speech. When Mr. Biden thundered that he was going to make corporations “pay their fair share,” the Democrats in Congress leapt to their feet in applause.

When I read through the details of Biden’s new multitrillion-dollar tax plan, it’s hard to come up with any plausible explanation other than that he’s trying to make American industry less competitive. Biden’s tax scheme would hobble United States businesses with nearly the highest corporate tax rate in the world—higher than our primary competitors.

They’re the big winners here if (God forbid) these policies were adopted. Even China and Russia—one communist nation and one autocratic nation—would have LOWER tax rates on their businesses than we would on ours.

This will lead to an outmigration of capital from the United States to our rivals as sure as river water flows downstream.

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