Informed Comment Homepage

Thoughts on the Middle East, History and Religion

Header Right

Donate

  • Facebook
  • Twitter
  • Google+
  • Email
  • RSS
  • Featured
  • US politics
  • Middle East
  • Environment
  • US Foreign Policy
  • Energy
  • Economy
  • Politics
  • About
  • Archives
  • Submissions

© 2023 Informed Comment

  • Skip to content
  • Skip to primary sidebar
Inequality

Biden’s modest corporate tax increases to fund public infrastructure projects are wildly popular — except among CEOs

Jim Hightower 06/01/2021

Tweet10
Share69
Reddit
Email
79 Shares

By Jim Hightower

( Otherwords.org) – “Outrageous,” screeched the U.S. Chamber of Commerce. “It doesn’t feel fair,” whimpered a top corporate executive.

The wailing by those who run corporate America is not for the plight of the workaday families who’ve seen their incomes stagnate and even plummet to zero during the pandemic. Rather, this chorus of woe comes from powerful plutocratic interests that have been enjoying windfall profits.

Why? Because, they cry, that meanie in the White House, Joe Biden, intends to modestly hike their corporate tax rate.

But wait… Didn’t Trump and the GOP Congress slash the corporate share of our nation’s upkeep nearly in half just four years ago, shifting the burden to the middle class and poor? Yes. And didn’t they promise that those cuts would create millions of new jobs? Yes again.

But instead, corporations got richer and working stiffs got shafted.

Still, here they come again, howling that raising corporate taxes would crash the stock market. Well, the day Biden announced his plan, stock prices did fall… by less than 1 percent. The next day, they bounced right back.

Moreover, those are crocodile tears the rich are shedding. They know that — as Biden himself makes clear — his proposed uptick in their tax share “is not going to affect their standard of living at all. Not a little tiny bit.”

They’ll still have their two or three big houses, private jets, and yachts. But, with them paying just a bit more toward the common good, our country will be able to reinvest in society’s physical and human infrastructure, making America stronger and fairer for all.

That’s why there are broad and deep public majorities — even among Republicans — for Biden’s infrastructure plan and the corporate taxes to pay for it. For more information go to AmericansForTaxFairness.org.

Via Otherwords.org

—-

Bonus Video added by Informed Comment:

AP: “Biden pushes tax hikes to fund education proposals”

Filed Under: Inequality, Plutocracy, Taxes

About the Author

Jim Hightower is a National radio commentator, writer, public speaker, and New York Times best-selling author. Jim has spent four decades battling the Powers That Be on behalf of the Powers That Ought To Be – consumers, working families, environmentalists, small businesses, and just-plain-folks. http://jimhightower.com/

Primary Sidebar

STAY INFORMED

Join our newsletter and have sharp analysis delivered to your inbox every day.

Twitter

Follow Juan Cole @jricole or Informed Comment @infcomment on Twitter

Facebook



Sign up for our newsletter

Informed Comment © 2023 All Rights Reserved

Posting....