“The Biden spending plan includes trillions in corporate tax hikes, taxes do not drive a growth economy or employment” — Paul Ebeling
Mr. Biden touts his proposed $2-T+ in “infrastructure” spending, which also includes all sorts of unrelated partisan waste, aka Pork, as 1st and foremost, a jobs-creation bill last.
But this new study finds that his multi-trillion-dollar spending plan would actually reduce overall employment.
Remember, the spending plan also includes trillions in corporate tax hikes to partially pay for it.
Corporate tax increases are widely known for their job-killing effect, as companies have less money available to invest in and otherwise expand their enterprises.
So, the Tax Foundation weighed the benefits of Mr. Biden’s proposal against the economic consequences the business tax hikes would have.
As a result, the experts conclude that net, the Biden multi-trillion “investment” would ultimately lead to lower economic growth, lower wages, and 101,000 fewer American jobs over the long term.
Mr. Biden’s “American Jobs Plan” would “create jobs” by putting people to work on infrastructure projects. But, when we stop to analysis it and consider all the private-sector jobs that will never come into being due to the increased corporate taxes, there’s no reason to believe that Mr. Biden’s “once-in-a-generation investment” will have any positive returns period!
Have a healthy day, Keep the Faith!