Those were the words uttered by America's “Placeholder-in-Chief” but a few short weeks ago right before he released his now infamous infrastructure plan...a plan that involves a whopping $2 trillion in corporate tax increases over 15 years with individual corporate income taxes going from 21 percent to 28 percent on U.S. overseas earnings, coupled with a 21 percent “global minimum tax.” But what exactly is a “global minimum tax?” It's a renegotiation of current tax laws where the 140 countries participating in the Organization for Economic Cooperation and Development (OECD) would agree “in principle” to the implementation of a minimum corporate tax rate as a way to try and ensure that big multinational corporations pay a set amount of tax no matter how and when they choose to “shift their profits” from one country to another.
A waste of time, effort, and money as what's being proposed, as of now, is “non-binding.”
In more simplistic and quite unnerving terms, what Biden is proposing is what I call “profit relocation guidelines”...guidelines not unlike those regarding “redistribution of wealth,” but this time it's redistribution of private companies profits on a global scale. Allowing this would give the federal government the ability to butt into both our and foreign countries private sector business dealings, thus translating into “big government” having a say in not only our private business dealings but in other countries private business dealings as well...and of course visa-versa.the practice by which U.S. companies can avoid paying taxes by moving their headquarters to different countries when they need to do so to protect their bottom line profits. And it's here where Biden and crew hope to raise hundreds of billions of dollars more in revenue from what amounts to taxing profits of American owned businesses now residing in what's called “tax havens.”
And while large corporations do garner more times than not huge bottom line profits, profits protected in said “tax havens”...“offshore bank accounts” as they are more commonly called...what Democrats refuse to understand is that large corporations are essential in not only keeping our economy thriving and moving forward, but that the American worker themselves would be the ones actually having to shoulder the cost of higher corporate taxes. In fact, right now between 50 percent and 70 percent of corporate taxes are actually carried by said workers with the remaining being carried by company shareholders. And why these large numbers? Because economics 101 dictates that “capital” itself is and will remain mobile while “labor” will remain stationary, meaning that the escalating cost of corporate taxes has nowhere else to go but upon the shoulders of the American worker as American companies looking to invest overseas would now have to pay an additional tax on their profits to the U.S. government with said raise in taxes being passed onto the company's employees...a normal business practice.Translation: Biden's corporate tax hike together with the “global minimum tax” plan was proposed solely to help pay for his socialist leaning domestic infrastructure plan, and is extremely detrimental to both our economy and to the American worker while at the same time hurting U.S. competitiveness by its encouraging multinational firms to relocate abroad instead of here in America.
But as bad as this rise in the corporate tax rate is...a rate President Trump's 2017 "Tax Cuts and Jobs Act" (TCJA) lowered from 35 percent to 21 percent to help make us more competitive in the world market...coupled with the global minimum tax...still sees Biden promising to raise taxes on “We the People.” And his proposed tax increases, the largest since 1993, has Biden claiming that it would address the “inequities” in the tax system itself while making said system more “progressive” by including the doubling of the capital gains tax, a second death tax...as if the first wasn't bad enough...expanding the estate tax's reach, as well as initiating major income tax increases for “the wealthy”...as in those like himself who earn over $400 thousand a year. But what Biden doesn't understand is that all of the above would actually slowdown economic recovery by reducing the pool from which needed funds are drawn for new investment start-ups (which usually are initiated by “the wealthy”), will slow down the actual creation of jobs, and will either freeze or decrease wages across the board.And worst of all, all this combined would surely afford the federal government an even bigger role in the economy than it already has with the government then accounting for 20% or more of our annual economic output, as in the value of all sales of goods and services combined. Simply, America's all-important private business sector will become but a shadow of its former self, if even that.
Makes one wonder just how the Democrat's claimed 80 million American citizens, illegals, and dead folks who “supposedly” voted for Joe Biden feel about him now...doesn't it.
And while my personal feelings about the “Placeholder-in-Chief” are obvious to my readers and our RIGHT SIDE PATRIOTS radio listeners, so are my feelings about the media...the “Fourth Estate”...especially when it comes to their ability to frame both political and social issues in a lopsided liberal-speak manner. Parroting what they are told to say by the Democrat powers that be, today's media has become the champion of pushing forward the left's counter-culture narrative that everything bad that happens in today's America stems from their self-perceived notion that America is inherently a racist nation and that white people are the sole purveyor of evil. And this can clearly be seen in how white and black folks are treated by the media when police officers are involved.
Simply, in today's America blacks can do no wrong, whites can go straight to hell, and no white person dare say anything negative about a black person for to do so means that they are indeed racist...so says the current powers that be aided by their media cohorts.
So this means that when a nasty black man in the act of committing a crime kills a white police officer in cold blood the black man's race must automatically be hushed up because it doesn't fit the Democrat's pro-black, anti-white narrative, but when a white officer in the line of duty kills a black man it becomes 24/7 news especially when the “court of public opinion,” in their misplaced wisdom, collectively deems the white officer guilty. Another example of this can easily be seen in how the media chose to omit certain key facts in its reporting of the recent Capitol “incident” where a white officer was killed by a black man...a black muslim in fact...a double must be hushed up media whammy if you will.(oh how the left loves that word), what was omitted until outed was that not only was the officer killed white and Green the assailant black, but that Green was a devout follower of Louis Farrakhan's black nationalist Nation of Islam group where he was known as Noah X.
So in an orchestrated attempt to help hide these facts, social media giant Facebook immediately removed both Green's Facebook page and Instagram account saying his page violated their Community Standards regarding “Dangerous Individuals and Organizations.” Therefore, my question is, why then hasn't Facebook removed all Nation of Islam pages and all black hate group pages? And the answer obviously is that Facebook, like with the media, gets its “marching orders” directly from the pages of the Democrat's progressive playbook where “selective enforcement” becomes the order of any given particular day...as in white people bad, black people good, and saying anything bad about muslims is strictly off limits.mostly white, media-called “mob” stormed Capitol Hill to protest what even he knows was a stolen election.
And when the president himself practices racial appeasement in full media view, you know that racial equality was never intended to become the new norm. After all, such equality would take the fuel out of the Democrats and the media's race-based agenda. Remember, fueling hate coupled with instilling fear of change is both big business and what allows politicians to remain in control of the narrative while at the same time playing the uninformed masses as fools. Like lambs to the political slaughter we should go with the media happily leading the way. And all I can say is I want my country back as it was... identity, counter and woke culture, along with race-baiting be damned.
************************************************************************************* For more political commentary please visit my RIGHT SIDE PATRIOTS partner Craig Andresen's blog The National Patriot to read his latest article, It Was Called Common Sense.
RIGHT SIDE PATRIOTS Craig Andresen and Diane Sori hope to be back live on air this Friday, April 9th at 7pm EST www.rspradio1.com...that is if the 'server gods' and the 'skype gods' have their act together and are back in working order by then.