No country has ever taxed its way to prosperity. Ever. Yet President Biden and congressional Democrats are hell bent on pushing through catastrophic tax increases. This episode of What’s Ahead examines what the ugly results would be.
In his infrastructure speech the President outlined some of the business tax boosts that he wants. If enacted, these would give the U.S. the highest corporate tax in the world, including China.
These and other Biden tax ideas would do real damage to small businesses, which were hard hit by the pandemic and are just starting to recover. Others would damage stocks, increase the cost of gasoline and heating oil and pole-axe family farms.
In the midst of this storm of heavier exactions Democrats are toying with one tax change that would benefit wealthy people, especially in New York and California!