I would say that Joe Biden is full of surprises except that just isn’t true. Biden’s proposals aren’t surprises at all. They are, at “best,” modifications of the same old failed leftist policies that have failed all over the world and that leftists have been trying to implement here in the U.S. for years.
Take Biden’s “infrastructure” proposal (please, take it. We don’t want it!). You may be wondering how he’s going to fund giving all that money to Democrat cronies… I mean, how he’s going to pay for all of that… “infrastructure.” It’s a good question. Masooma Haq has an answer. Haq writes,
President Joe Biden has proposed a minimum corporate tax rate of 15 percent, and increased Internal Revenue Service (IRS) funding, as a way to pay for an infrastructure package that he is negotiating with Republicans, according to the White House.
“The book minimum (15 percent) was in the president’s American Jobs plan proposal as a proposed ‘pay for,’” White House press secretary Jen Psaki told a reporter. “It was also in our budget. So, this is not a new idea. This is a component of what he’s proposed as a ‘pay for’ that he’s lifting up as a question as to whether they (Republicans) could agree to that because it certainly doesn’t violate anything about the 2017 taxes.”
The U.S. Department of the Treasury also discussed the global corporate minimum tax rate during a recent meeting with G-20 leaders.
“Treasury proposed to the Steering Group that the global minimum tax rate should be at least 15%,” the Treasury Department wrote. “Treasury underscored that 15% is a floor and that discussions should continue to be ambitious and push that rate higher.”
Now, as someone who used to be a bookkeeper for companies, let me let you in on a secret that Democrats won’t tell you: Corporations don’t pay taxes. Yes, it looks like corporations pay taxes on paper, but the reality is that corporations either pass on those taxes to consumers (which means that you and I pay those taxes) or the corporation goes out of business because they can no longer make a profit. In which case, no taxes are collected, and jobs are lost.
In other words, Biden’s proposal to pay for his big payout to his crony buddies (that they’re calling an infrastructure bill) is to be paid for by you and me while also, potentially, wrecking the economy.
It would seem to be a double win for Democrats as raising taxes and killing the U.S. economy seem to be two of their big initiatives anyway.
Americans deserve better than these clowns.