Status: Not Logged In; Sign In

National News
See other National News Articles

Title: Biden caves on steep tax increase for businesses after bipartisan backlash
Source: [None]
URL Source: ... corporate-tax-increase-infras/
Published: Apr 8, 2021
Author: staff
Post Date: 2021-04-08 10:05:49 by Horse
Keywords: None
Views: 18
Comments: 1

President Biden said Wednesday he’s willing to scale back a proposed corporate tax increase in his massive infrastructure plan amid resistance from a key Senate Democrat and a new study that said the plan would sap wages and economic growth in the long run.

Mr. Biden challenged opponents of the $2.25 trillion plan to put up or shut up on outlining their own ideas, while the Treasury Department projected the broader plan translates to roughly $2.5 trillion in tax hikes over 15 years.

“I’m wide open, but we got to pay for this,” Mr. Biden told reporters when asked about a corporate tax rate lower than the 28% that is in his plan. “I’ve come forward with the best, most rational way — in my view, the fairest way — to pay for it. But there are many other ways as well, and I’m open.”

Post Comment   Private Reply   Ignore Thread  

TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Horse (#0)

Were both the corporate and the capital gains tax rates lowered to 15 - 18%, there would be a tsunami of activity in this country like never before.

There would be more than enough $$$ generated to pay for all of the insane new deals.

“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken

Lod  posted on  2021-04-08   12:54:51 ET  Reply   Trace   Private Reply  

TopPage UpFull ThreadPage DownBottom/Latest