SCOOP: As they rake in corporate PAC cash, Sinema & Manchin will headline the upcoming conference of the anti-union corporate lobby group leading the fight against Dems' legislation to enact a $15 minimum wage & make it easier for workers to join unions. https://t.co/qh1y7vCUs6— The Daily Poster (@dailyposter) April 16, 2021
NEW: Biden and every Senate Democrat campaigned in support of a public health insurance option — but they appear to have abandoned it, expecting everyone to forget, even as the health care crisis worsens.— David Sirota (@davidsirota) April 19, 2021
State lawmakers are now trying to fill the void. https://t.co/62E6Qfk3Fj
Corporate Democrats are fighting far harder for tax cuts for their affluent constituents than progressive Democrats are fighting for a slightly higher starvation wage for millions of workers. It’s truly sick. https://t.co/YiBmnpKjgq— David Sirota (@davidsirota) April 19, 2021
The top corporate tax rate before Trump was 35%.— Nina Turner (@ninaturner) April 19, 2021
Saying “corporations must pay their fair share” should mean that pre-Trump rates are the starting point.
We also need to close the loopholes companies use to get away with paying $0 in federal income taxes. https://t.co/jQolE9MsR1
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.
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 permanent structural changes to our economy that are even on the table. They can’t do anything but spend a bunch of money.
Do people not see what is going on here? The Republicans cut the corporate tax rate from 35% to 21%. The Democrats raise it back to 25%. The trend is always toward ever more social liberalism and economic liberalism. Politicians cater to the wants and needs of the establishment.