Biden proposes $130 billion business tax increase – IOTW Report

Biden proposes $130 billion business tax increase

By Taxpayers Association of Oregon
OregonWatchdog.com

President Biden this week rolled out a massive business tax increase that will raise over $130 billion a year (chart: $1.3 trillion over 10 years) by pledging to raise the corporate income tax from 21% to 28%.  Combine this national Corporate Tax rate with Oregon’s 7% Corporate Tax (6.6%-7.6%) and you now have a combined 36% business tax.

Biden’s new 28% Corporate Tax rate would make the United States one of the most expensive places to run a business.

For comparison, China’s Corporate tax rate is only 25%.   Biden would make America less business friendly than Communist China. read more

21 Comments on Biden proposes $130 billion business tax increase

  1. This on top of the highest tax increase in modern history – INFLATION!
    Inflation caused by Jackass Joe and his Marxist puppeteers!
    “Crush the bourgeoisie is to grind them between the millstones of taxation and inflation”
    Destroy our Energy sources
    Destroy our Military
    Destroy our Foreign Policy
    Destroy our Police forces
    Destroy our big cities
    Destroy our Southern Border
    Destroy our entire Immigration process
    Destroy agreements
    Destroy the World’s confidence in the United States of America!
    Destroy the Economy
    Destroy the Supply Chain
    Destroy the Dollar
    Destroy employment
    Destroy Businesses
    Still think it’s all unintentional???
    There aren’t that many coincidences in the Universe!

    11
  2. It will rake in $130 Billion a year. That is, of course, assuming it does not strangle the economy in the process.

    That also does not consider what raising those taxes will do when we already have inflation on steroids.

    Wanna make a bet that big tech is exempt from this tax increase?

    7
  3. Joey could make himself a nice profit off of 10% for the big guy. 10% of 130 billion dollars is a mere 13 billion dollars which is a nicely grifted sum of stolen money that he’s not entitled to. I despise Joe Biden, not only is he the most incompetent Presidunce ever he’s also one of the most corrupt. Remember jackass that you can’t take it with you when you croak no matter how much you can steal and grift from others while you’re still alive.

    1
  4. No, it is estimated that it will pull in $130B each year. That does not cover the companies that will move a portion of their business overseas. I will bet a portion of my salary that the actual revenues will be far less than this rosy estimate.
    That will not stop the spending, as that will continue regardless of any revenues.
    Get rid of baseline budgeting and have every government agency, department, division start every year from scratch and justify their requests, rather than start at the previous year and justify just an increase.

    5
  5. oBiden* (and obola behind him) are like the Energizer Bunnies of America’s destruction.

    It’s 100% clear that they won’t stop until we stop them.
    Everyone enabling them also needs to be put down (in the sense of a rabid dog, yes)

    5
  6. They already figured the money in their hands and then some, by spending that much more each year. This is all part of the plan to strip the country of its wealth from the middle class and destroy resistance.

    2
  7. ya the scammer-grifter Joe Biden’s ‘corporate’ tax increases also include very-small business and private citizens. All due to his gross negligence and mismanagement of the US, not to mention the sly thievery he and his lowlife family are known for along with both nation-destroying and dark-money Clinton predators.

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