By Duncan Smith
Joe Biden and his handlers are trying to break America.
Literally. Between attacking our culture, our societal norms, and blasting the national debt skyward, America’s days are limited.
Take his new ‘infrastructure’ and ‘tax’ plans.
Not only does the plan spend more trillions we don’t have on hardly any real ‘infrastructure,’ but a new analysis of Biden’s massive tax plan found that our country will get absolutely no value out of the former.
The Epoch Times reports:
President Joe Biden has unveiled his ambitious infrastructure package, which proposes substantial tax increases on U.S. corporations to pay for the $2 trillion price tag. However, experts say the economic harm from an increase in corporate taxes will offset the benefits created by the infrastructure investment, raising skepticism about the plan.
Biden described his proposal as 'the largest American jobs investment since World War II' in a speech in Pittsburgh on March 31.
By spending on infrastructure, Biden pledges to create millions of well-paying jobs, expand the economy, and make the United States more competitive vis-a-vis China.
The eight-year infrastructure plan will be fully paid for by tax increases on U.S. companies spread over 15 years. Increasing the federal corporate tax rate to 28 percent from 21 percent is one of the several ways proposed in Biden's infrastructure plan.
Studies, including ones conducted by the Congressional Budget Office (CBO), however, show that raising taxes would lead to less investment, less productivity, fewer jobs, and lower wages.
The administration has to make the case for tax increases as 'the benefits of the Biden infrastructure plan won't outweigh the cost to the economy of the tax increases,' Scott Hodge, president of the conservative-leaning think tank Tax Foundation, said in a report.
'Federal investment financed by debt or taxes could do more economic harm than good because federal borrowing and taxes crowd out private investment,' Hodge wrote.
It’s not hyperbole to say that our country may not survive the Biden regime intact.
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