By Duncan Smith
Sens. Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) are really the only two lawmakers standing between Joe Biden and his Marxist handlers’ efforts to destroy the country, and we owe them for that.
Both are from reddish-to-red states and both obviously want to be reelected. That’s the only way to explain why they continue to buck their own party on key issues.
Like Biden’s new massive tax-and-spend plan.
Manchin has indicated he’s not at all on board with it and it doesn’t sound like he’s planning to support it.
That means Democrats can’t even cheat and try to pass this irresponsible deficit-exploding and economy-killing bill with a simple majority via budget reconciliation.
Fox Business Network reports:
Sen. Joe Manchin, D-W.Va., said Monday that he does not support President Biden’s proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.
Biden’s plan would raise the corporate tax rate to 28% from 21% and increase the global minimum tax on U.S. companies to 21% from about 13%. The White House said the tax increases would pay for the proposed investments in the nation’s roads and bridges, transit systems, schools and hospitals over the course of 15 years.
But Manchin — a moderate Democrat who has become one of the most powerful members of the 50-50 Senate — said that 28% is too high and could hurt American competitiveness. He suggested the package could be paid for by boosting the corporate rate to 25% and closing tax loopholes used by wealthy Americans to dodge taxes.
“As this bill exists today, it needs to be changed,” he said during a radio interview with West Virginia MetroNews. “Bottom line is, that’s what legislation is all about. This bill will not be in the same form you’ve seen introduced or seen people talking about.”
“If I don’t vote to get on it, then it’s not going anywhere, so we’re going to have some leverage here,” Manchin said. “It’s more than just me. There’s six or seven other Democrats who feel very strongly about this. We have to be competitive, and we're not going to throw caution to the wind.'
This could be a distinction without a difference — Ireland’s corporate tax rate is 12.5 percent, which is why U.S. companies have flocked there in recent years before our rates were dropped under Trump and Republicans — but it’s better than nothing.
Manchin wants to be reelected in a very red state. He continues to be our ace in the hole.
Biden's inflation is GETTING WORSE by the month...
Around the world, supply chains continue to be disrupted. Delays are now commonplace. And they're going to get worse.
There IS a financial reset coming - that's just true. All the signs indicate as much.