Posted on 04/09/2021 11:35:51 AM PDT by JV3MRC
The ABC, CBS and NBC evening news networks ignored yet another major economic report slapping down President Joe Biden’s ridiculous corporate tax hike plan as disastrous.
The National Association of Manufacturers (NAM) released a new damning economic study Thursday ripping apart another Big Lie in Biden’s agenda. The study projected that a corporate tax hike from 21 percent to 28 percent — in addition to other items like increasing the top individual tax rate and reinstating the corporate alternative minimum tax — “would result in less economic activity and 1 million jobs lost in the first two years.” But that’s not all. “The average annual reduction in employment would be equivalent to a loss of 600,000 jobs each year over 10 years,” the study’s summary reported. So much for Biden’s recent assertion that “[t]here’s no evidence” his corporate tax hike would hurt the economy.
Rice University economists John W. Diamond and George R. Zodrow, the authors of the study, found that “[t]he reduction in hours worked would be equivalent to an employment decline of approximately 1 million full-time jobs in 2023.”
ABC World News Tonight, CBS Evening News and NBC Nightly News all ignored the study entirely during their Thursday evening coverage. The networks continued their derelict behavior of not covering news that could harm Biden’s leftist economic plans with impunity.
(Excerpt) Read more at newsbusters.org ...
Of course, anything and everything that inhibits or has the potential to deter the programmed destruction of America must be censored.
They don’t care.
It’s all about “justice” and serving the aggrieved.
Rationality is not a consideration.
No economist in their right mind would ever make such a statement. Of course it will have an impact. Indeed, it will have an impact long before it even goes into effect. Stupid plan, Joe...really stupid. You will collect more taxes with a robust economy than the moribund one you're leading up to.
Joe wants the corporate rate higher than China’s (25%)....and that’s all that matters.
Those big 3 aren’t so big these days.
Increasing taxes from 21% to 28% is a 33% increase in taxes. Who wouldn’t expect it to injure companies?? Here’s hoping big eneMedia is hardest hit.
It is a tax attorney full employment measure.
It will be worth it for corporations to pay smart tax attorneys a lot of money to find ways around the thousands of pages of new IRS regulations that will be written...
There are always loopholes—if you helped write them into law or regulation you become a valuable commodity.
And to go along with that number. How many jobs and in how many days did Biden lose when announcing the pipeline project being stopped as well as the work on the border wall? They can add those figures to Biden’s Presidency as well.
“derelict” my ar$e!!!!! “Malicious” and “fraudulent” are more appropriate descriptions. . . .
The bottom line is Marxists and oligarchs are here to destroy freedom and the free market system...they are the enemy from with in.
One can be confident that these economic projections are valid, because the Big Three think that censoring these studies is the thing to do.
What will they say when the jobs and economy are more negatively affected that even the economists predicted? If it relates to conditions more than ten minutes into the future, this would be beyond their mental capabilities, and we should not expect them to comment further.
Wait! What? A demonrat false -resident lied?
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