Axios: Corporate Democrats Are Settling On 25% Corporate Tax Rate

This is a joke.

Axios:

“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.

Business Insider:

“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.

About Hunter Wallace 11895 Articles
Founder and Editor-in-Chief of Occidental Dissent

3 Comments

  1. R’s should propose a return to 35% and remove all loopholes. Tax the hell out of that woke capital ass!

    • The highest it’s ever been is 52.8%, which was sometime in the late 60s:

      https://tradingeconomics.com/united-states/corporate-tax-rate

      Its currently at the lowest rate its been since the 1920s. We all know what happened after that.

      Republicans should run on raising it back to +50%. And they should propose increasing funding for welfare programs and removing all “Means Tested” measures. Watch how many Populist non-whites they pick off doing that. There are incredible opportunities on the horizon to reshape the American voter landscape in a way that totally isolates College-Educated White Professionals against the other 87% of American voters.

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