The Biden administration has been ram-rodding everything on the Democratic wish list since taking office.
I mean, everyone loves free money, right? Well, we know it’s not free, but Democrats don’t seem to realize the serious ramifications that come from legislation like this.
Joe Biden took a victory lap for using the budget reconciliation loophole to push through a so-called relief effort. Much of the final expenditure had little to do with help for those truly suffering from the pandemic.
Biden’s administration is back to kick another dent in America’s financial future. He’s now boasting a multi-trillion dollar infrastructure package. But Biden insists he has a way to pay for this big-ticket government spending spree that includes a few more trademark freebies.
He’s going to pull a flea-flicker out of the good old Democrat playbook. Jack up our taxes. One of Spender Joe’s primary targets is American corporations. After the previous administration worked tirelessly to make U.S. tax laws less restrictive to business, Biden is set to turn everything upside down.
President Trump used his savvy business sense to appreciate why, for decades; American companies were packing up operations and heading for foreign soil. One country that benefited the most was our personal nemesis, China. Yes, the same country responsible for the financial straits the world is experiencing.
Even before the first tax date comes due in his tenure, Biden is proposing to raise the taxes on American business to more than what’s paid in China. Is this a viable economic strategy to entice companies to either move operations to American soil, or to remain here?
Anyone paying attention would realize it’s going to produce the opposite result. China’s corporate tax rate is set at 25 percent. Raising our corporate up to 28 percent, a whopping 25 percent instant hike, once again reduces the appeal of setting up business in America.
The fewer the businesses that are willing to build new facilities, or continue to produce products in our country, reduces the amount of taxable profits. It seems difficult to appreciate why the radical financial wizards at the core of the progressive Democrat agenda can’t understand this.
Or do they? Some of our most intense radicals don’t even think this is enough. How long will it be before the destroy America agenda of these spend and tax progressives skyrockets the tax rate higher than the peak rate of 35 percent?
There isn’t an economist with an ounce of business sense that doesn’t appreciate how devastating the years under that onerous tax rate were for our nation. With a spend and then spend some more Democrat administration pulling the financial strings in Washington D.C., we’re heading right back down the same failed path.
Our nation is climbing out of a dark period caused by the stranglehold that the (forbidden illness) put on our economy. Now is not the time to throw another economic chokehold on our struggling nation. In fact, it could cause the collapse of any progress we’ve made.
What is also alarming is that massive corporations have the ability to pack up and move out of the country. If history is an indicator, they will. The problem is the smaller businesses that are already struggling to stay afloat.
Dealing with the excessive restriction imposed as a result of the pandemic, many are barely surviving. A Joe Biden tax hike disguised as an economic boost in an infrastructure package will finish off thousands of small businesses.
But anyone paying attention shouldn’t be surprised. It’s been the game plan from the day the first person died from the (forbidden illness). A devastating world health crisis has been the perfect storm for a radical agenda. A massive tax hike, to pay for another liberal spending wish list, is the way to bury the small business owner in America.
Like pipeline workers stripped of their jobs, Biden could not care less. Big Tech, along with other massive liberal-supportive corporations, will begin to feed on the failures of America’s backbone, the small business owner. This is more than just a tax hike to fund big government. It’s another bomb to help destroy America from the inside out.