(HorizonPost.com) – “A billion dollars here, a billion dollars there, and pretty soon, you’re talking about real money” is a quip attributed to former Sen. Everett Dirksen (R-IL) from decades ago. So one might imagine his reaction to the second $2 trillion spending package proposed by President Joe Biden within a matter of weeks. Biden titled it “The American Jobs Plan,” and whether it was intentional or not, analysis proves the name ironic.
During the Democratic Party primary in June 2020, it became obvious, at least to some, that the candidates were embracing the term that was originally coined as a derogatory name for them. Now that he occupies the Oval Office, Biden has shown he intends to take tax-and-spend and run with it.
An analysis by the Tax Foundation of the proposed corporate tax increases shows that the combined state and federal tax burden for corporations would rise to 32.34%, making it the highest in the 57 member OECD (Organisation for Economic Co-operation and Development). They also estimate that the bottom 20% of wage-earners would see an average decrease of 1.5% in their after-tax income. The Tax Foundation projects the loss of up to 159,000 jobs.
Former President Donald Trump says the plan is a prime example of President Joe Biden’s and the Progressive Liberal Congress’ intent to put the United States’ best interests behind those of other nations — calling it a “globalist betrayal.” He points out that under the Biden proposal, a company that creates jobs in America using American workers would pay comparatively more taxes than moving their factories and jobs overseas where their tax burden will drop.
Continuing, former President Trump labeled it a “cruel and heartless attack on the American dream” that should “never be allowed to become Federal Law…” He was joined in his disgust by Sen. Mitch McConnell (R-KY), who posted a statement on his official webpage calling it a “liberal wish list” from which only 6% of the $2 trillion goes towards infrastructure.
The senator also said in his letter, “every time that far-left dogma clashes with the interests of American families,” the citizens of the United States lose out. Both these men tend to put the country far higher on their list of priorities than the Progressive Liberal Democrats currently in office.
Copyright 2021, HorizonPost.com