Joe Biden to Propose Big Tax Rises for Billionaires and Corporate America
7th March 2024
The Biden administration will target billionaires and corporate America with sweeping tax rises as part of a plan to cut the US’s record national debt and boost the president’s standing with voters ahead of November’s election.
So it’s not because of any concern over the national debt, merely an election-year hunt for the usual proglodyte punching-bags.
The proposals, expected to be unveiled in Thursday’s State of the Union address and over the following week, include an increase in the minimum corporate tax from 15 per cent to 21 per cent, as well as a 25 per cent minimum tax for billionaires.
Corporations don’t pay tax; they merely collect tax, which is paid by their customers, which is usually normal middle and working class Americans.
The proposals, which are unlikely to pass Congress but are intended to distinguish Biden’s progressive agenda from that of his Republican rival Donald Trump, come as most voters remain unconvinced by the president’s performance on the economy.
So it’s not a serious proposal, just virtue-signalling by Biden’s puppet-masters. Sheesh.