STEPHEN MOORE: President Joe Biden’s Magical Thinking On Taxes
==========
President Joe Biden's tax plan aims to make corporations pay their fair share, but it may make American industry less competitive. The plan includes a multi-trillion tax plan that would impose nearly the highest corporate tax rate in the world. Even China and Russia would have lower tax rates on their businesses. Lower tax rates have been shown to attract capital and raise worker wages. The Biden administration's denial of the negative effects of high tax rates and their focus on bashing big business instead of fixing the problem sensibly is criticized. The tax hike will hurt American workers and consumers while benefiting global competitors. The author suggests making the green energy industry pay their fair share. The White House estimates the plan will raise $500 billion over a decade from corporations, but this will also affect the 130 million Americans who own corporations through retirement plans. The author argues that the tax hike policies will put America last.
#Taxes #CorporateTax #JoeBiden #AmericanEconomy
https://www.shorenewsnetwork.com/2024/03/18/stephen-moore-president-joe-bidens-magical-thinking-on-taxes/
Shore News Network /
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2024-03-18 08:51:46
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npub1e0sz0lykenh49k0v6a72n6tmezwcad2e0zulvtm8jwm7udphfrssyxhwxmPublished at
2024-03-18 08:51:46Event JSON
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"content": "STEPHEN MOORE: President Joe Biden’s Magical Thinking On Taxes\n==========\n\nPresident Joe Biden's tax plan aims to make corporations pay their fair share, but it may make American industry less competitive. The plan includes a multi-trillion tax plan that would impose nearly the highest corporate tax rate in the world. Even China and Russia would have lower tax rates on their businesses. Lower tax rates have been shown to attract capital and raise worker wages. The Biden administration's denial of the negative effects of high tax rates and their focus on bashing big business instead of fixing the problem sensibly is criticized. The tax hike will hurt American workers and consumers while benefiting global competitors. The author suggests making the green energy industry pay their fair share. The White House estimates the plan will raise $500 billion over a decade from corporations, but this will also affect the 130 million Americans who own corporations through retirement plans. The author argues that the tax hike policies will put America last.\n\n#Taxes #CorporateTax #JoeBiden #AmericanEconomy\n\nhttps://www.shorenewsnetwork.com/2024/03/18/stephen-moore-president-joe-bidens-magical-thinking-on-taxes/",
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