I know policy doesn’t matter to the low info cultists on this website. But for the rest of us normal people, it’s good to know what Trump and the rich billionaires and think tanks promoting him want. This isn’t good for normal workers. And for those who are concerned with debt and inflation, this is especially bad.
Btw, if you believe this, I have a bridge in Kansas to sell ya. If you’re dumb enough to believe this then you’re probably dumb enough to vote for Trump.
“The corporate tax rate has a much bigger impact on individuals than it does on businesses,” Sen. Mike Crapo (R-Idaho),
I think this is a legit argument. We definitely need to re-balance the wealth inequality in this nation while also paying for debt. The era of slashing taxes for top donors without any regard for debt needs to end like yesterday. Solid fiscal policy declares we spend during bad times and pay debt off during good times. Right now the economy is rocking. We should let the Trump tax cuts expire and start paying off debt so we’re prepared for the next economic downturn, war, or pandemic.
Biden and Democrats counter that cutting taxes for businesses would reward the groups and executives they have blamed for persistent inflation, and that increasing corporate taxes would begin to wrest back wealth that the richest Americans accumulated during the pandemic’s economic shocks.
“The fundamental economic policy choice that lies ahead is whether to return to the Republicans’ failed trickle-down approach or forge ahead with the president’s proven plan to grow the economy from the middle out and bottom up,” Lael Brainard, Biden’s national economic adviser, said in a speech at the Brookings Institution in May. “Do we want a tax system that favors the middle class or the wealthy? The expiration of Trump’s 2017 tax package next year will put tax fairness front and center. Tax fairness is central to the president’s approach to building an economy that works for all Americans — where growth is broadly shared, everyone has a fair shot, and we reduce fiscal risks and keep our commitments to seniors.”