Suppose if you sat around with your family to figure out what vacation spot you wanted to go to this summer. You all talk and talk and despite you wanting to go to Orlando, you decide on going to Colonial Williamsburg.
Now, you base everything that you do on the idea that you are going to Williamsburg, when you all get into the car you head to Orlando. Everyone in the car would have every right to be pretty angry about the whole thing.
What is happening with Joe Biden is pretty similar. He made all kinds of promises to people and not only has he not fulfilled them, but he has also gone out of his way to do the exact opposite of everything he said he was going to do.
Passage will be done the same way so Republicans have no say again. Biden will tell people just enough so it might sound good to the right people.
The press will make things up about it. Remember “sticking it to the rich”? Businesses are going to be taxed or penalized for sending jobs overseas.
It’s the largest federal tax hike in almost three decades after bailing out blue states.
He did say this would be done so those dreaming of “revenge” on the wealthy and “infrastructure” may be salivating. The top individual tax rate will go back up to 39.6%.
Obama had the corporate tax rate at 35%. Trump dropped it down to 21%. Biden is going for a happy medium to maybe keep some businesses around, 28%. In that case, he’s both appeasing those that don’t understand economics yet he still needs that tax money coming in. Government doesn’t make money, it spends it.
So there maybe something going on behind taxing top level millionaire investments. Many Democrats, including Biden, are millionaires.
There maybe more shell games going on as business tries to serve customers and not get the daylights taxed out of them. You don’t want to grow and hire. You’ll get a 15% tax just for being big.