Home Politics America Rich Americans are ignoring Mr. Biden’s Tax Plans Because…

Rich Americans are ignoring Mr. Biden’s Tax Plans Because…


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Republicans and the majority of Americans do not want or like Mr. Biden’s tax plans“– Paul Ebeling

Republicans are warning congressional Democrats: If you raise taxes on corporations and top earners, we’ll just cut them back when we regain power.

Mr. Biden is considering whether to strike a deal with Republicans on a modest infrastructure package that would not raise taxes a GOP red line or to go it alone and pass a larger bill through a special process that can be done with only Democratic votes. Or both.

Either way, the 2 sides are headed for a showdown over taxes, which Mr. Biden sees as Key to funding Dem pork priorities like clean energy investments and money to care for children and the elderly. And Republicans are quick to say Democrats’ gains may be short-lived.

There’s no doubt in my mind that anybody running next year should be talking about reversing what I think are going to be tax increases at the worst possible time,” said Senator Thom Tillis, R-NC, arguing that raising taxes on corporations and capital gains would harm the economy.

Senator Tillis added that if the taxes are cut, future lawmakers would be less likely to continue expansions of the economic safety net because of a lack of revenue.

The numbers don’t work,” he said, adding that if Democrats find bipartisan support, “the funding mechanisms would have some staying power. But if they go on alone, they won’t.”

Senator Rand Paul (R-KY) said that no Republicans would vote for the new taxes and that when his party regains power, “we would get rid of them.”

But we’d have to have all three branches of government,” he said. “We don’t like the taxes.”

Have a healthy day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.