This is a joke.
“The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios. …
The big picture: The White House hasn’t publicly backed away from the president’s proposed 28% rate but indicated it’s willing to find a compromise to pay for his spending plans.
Democrats close to the White House expect Biden will accept 25% and pocket it as a political win.
President Trump lowered the rate from 35% to 21%. …”
Wow, what a huge win for Joe Biden.
“Senate Democrats will likely seek a 25% corporate tax rate, people close to talks told Axios.
That’s lower than the 28% rate President Joe Biden has proposed, which he said would pay for his $2 trillion infrastructure plan.
The current corporate tax rate in the US is 21%. …”
As promised, nothing that truly matters to Big Business and Wall Street is going to fundamentally change. They don’t even pay the current 21% corporate tax rate with all the loopholes and subsidies. We’re getting the same old shit on economics with even more intense culture war battles.
Note: The hope seems to be that the temporary stimulus check and child tax credit will numb the pain through the 2022 midterms. Otherwise, there are no real structural changes to our economy even on the table.
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Author: Hunter Wallace
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