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SHOCKING: Joe Biden To Tax American Business At Higher Rate Than Communist China

Joe Biden is playing the wrong tax game

The US President announced his future tax plans. According to sources, Biden will propose a tax on US businesses at a higher corporate rate than Communist China charges our businesses.

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Biden announced his trip to Pittsburgh Wednesday to present his 2.25 trillion dollar package that would elevate the corporate tax rate from 21 percent to 28. China has a corporate tax rate of 25. Former President Donald Trump was able to lower the tax rate from 35 percent to 21.

The Washington Post reported, “The proposal would also increase the “global minimum tax paid from about 13 percent to 21 percent, as well as other measures aimed at taxing corporations that shelter profits offshore to avoid taxes.

Politicians on both sides of the aisle have criticized the decision.

Rep. Alexandria Ocasio-Cortez (D-NY) took to Twitter Wednesday to say that Biden’s effort lacks urgency. “This is not nearly enough,” she said:

The top Republican on the House Ways and Means Committee, Rep. Kevin Brady (R-TX), criticized Biden’s plan due to the economic crisis. “No president has ever raised business taxes to recover from an economic crisis. This couldn’t come at a worse time,” he said.

Ann Wagner (R-MO) shares similar comments. “Why, as this country begins to reopen and recover economically, would the Biden administration be proposing tax policy which would, in the end, hurt the American family and millions of struggling small businesses?”

Senate Minority Leader Mitch McConnell (R-KY) claimed on March 16 that Republicans would never support tax increases. “I don’t think there’s going to be any enthusiasm on our side for a tax increase,” he said.

The new bill “includes $300 billion for housing, $400 billion for elderly and disabled care, and $300 billion to revive manufacturing in the United States,” and also has “nearly $400 billion in ‘clean-energy credits’ to promote ‘green’ energy such as wind and solar.”

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Source: Breitbart

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