Posted on 03/31/2021 4:24:23 AM PDT by buckalfa
Dubbed the American Jobs Plan, the White House said the “once-in-a-century capital investment” in U.S. infrastructure will create “millions” of good-paying jobs and position America to “out-compete” China by spending about 1% of GDP per year over the course of 8 years. [snip]
In order to pay for this legislation, Biden also proposed what he has called the Made in America Tax Plan, which would raise the corporate tax rate to 28% from 21%. It would also increase the minimum tax on multinational corporations to 21% and “calculate it on a country-by-country basis so it hits profits in tax havens,” alongside several other efforts to eliminate perceived loopholes in the corporate tax code.
(Excerpt) Read more at foxbusiness.com ...
It’s just nice to know that corporations have piles of trillions of dollars sitting around so that they can pay this sort of tax. I don’t have any idea where corporations get their money, but I’m just glad to know they have so much of it.
Factoring in money AS IF CORPORATIONS will just sit back, take it and pay out is as stupid as can be. They’ll just go overseas again. They’re all set up to flip back over because they knew the Trump era was going to be temp.
As everyone who has any sense knows, corporations are merely tax collectors for the government. Raise their taxes, they raise their prices. “They don’t pay the taxes, you do.”
Leftists have core beliefs
That much is true.
Sometimes they even believe them.
For a measure of pap and a dosage of crap
You simply cannot just exceed them.
Stagflation here we come.
Yep, and on top of that they'll raise prices too. Any way one slices it, the end consumer is screwed by pResident Xiden's tax increases and the job losses that will result due to this massive tax increase on Corporations (you know, the ones that creaete jobs) are going to be staggering.
Ford has already announced they're shifting a bunch of production back to Mexico. GM will likely do the same/similar and those jobs that were leaving China and destined to come back to the U.S. will simply go to South Korea, Japan or elsewhere in Asia-Pac. They're not going to come back here just to pay more taxes.
Every single large corporation I know of pushes leftist PC crap.
Of course, this will just wind up hurting us...
Get ready now for hyper-inflation, spend your stacks of paper “money” on hard tangible goods, gold, silver, collectible autos, land, houses.
My house value on Zillow just keeps going up and up and up!
I could sell, but can’t live in a camper lol
This level of unfair confiscation will simply cause multinational companies to withdraw from the American market.
We are rocketing to the Soviet Union model.
People will have money but nothing to spend it on.
Transportation manager butt boy wants a mileage tax on citizens, easily done with ez pass
These companies assisted the coup against Trump. Tax them into oblivion for all I care.
I thought all the, “shovel ready jobs” had been taken care of? This is a slush fund replenishment proposal.
Biden is applying the, “road and belt” initiative / corruption bonanza to America; it’s graft wearing an infrastructure mask to buy votes for leftists.
Typical “Reward Your Friends, Punish Your Enemies” Obama MO.
These corporate taxes are not “collected” from the customers at all. They are paid by the company out of its own profits.
Corporations maintain their profit margin by raising prices when costs are increase. Taxes are a cost.
In what world does Biden live where tax hikes of that magnitude are not passed onto the consumers along the line?
It is like a VAT that starts on the initial supplier and snowballs down the line.
We are in for a world of hurt financially.
MMT is a theory supposedly already in effect as the trillions have already been “printed” and dispersed over the past decades.
As long as the US has the reserve currency, the PTB can continue, but there are two camps. One views the dollar as getting stronger since it is the less ugly sister on the world financial stage. The other camp sees a total implosion and loss of the reserve currency status which would be a terrible reckoning. See Great Britain’s experience. My SO was in London when the pound sterling was devalued in the 60’s. He remembers the garbage piled up on the streets during the strikes, the prices of everything skyrocking, and the day-to-day agony of people without jobs, money, or a future.
Most care less about corporate law and corporate games that are played with big government. What is quite obvious is that the government plan is a scam and will only benefit big government while the worker, consumer and taxpayers will pay for it all having nothing to show for just this insane $2Trillion in spending. We are just living the Obunghole third term.
“Corporations” are wealthy enough to be woke, tax them and boycott them.
You are joking right?
Where do you think profits come from?
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