Corporate Democrats Oppose Raising The Corporate Tax Rate

I can’t stop laughing.

Axios:

“Sen. Joe Manchin (D-W.Va.) forewarned in a radio interview Monday that he will not support a hike in the corporate tax rate from 21% to 28% as proposed in President Biden’s infrastructure bill, adding that there are “six or seven other Democrats that feel very strongly about this.”

Jimmy Dore is right that we have two rightwing neoliberal parties on economics. Joe Biden had already taken a wealth tax, fixing the carried interest loophole and raising the capital gains tax off the table. He moved the goalposts from raising taxes on +$250,000 households to $400,000 households because so many of his own voters are affluent suburbanites. Democratic governors and House Democrats are already saying that eliminating the SALT deduction cap is a line in the sand.

Joe wasn’t even planning to eliminate the Trump tax cuts OR take the corporate rate back to what it was before 2017. Joe was only willing to go halfway on raising the corporate tax rate and now Joe Manchin and the corporate Democrats are saying that is a bridge too far like the $15 minimum wage. We now have the answer to Matt Karp’s question about whether Democrats were willing to tax their affluent new constituents to pay for social democracy. Plainly, the answer to that question is NO.

Are these new Democrats willing to tax Wall Street? NO.

Are these new Democrats willing to tax the wealthy? NO.

Are these new Democrats willing to tax Corporate America? NO.

Look at it this way: it is so bad that the $2,000 that the Democrats promised everyone didn’t happen. Plus, they cut the eligibility of the $1,400 stimulus check to ensure that less people qualified for it than under Trump.

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4 Comments

  1. Just in general I like the idea of lower taxes for everybody. However the gap between the Super Rich vs the Middle Class vs the Working Poor is a big problem and getting worse. I like the idea of all White People doing well or nobody doing well. If raising the Corporate Tax helps so be it. Lower taxes on the Middle Class and Working Poor. That helps as well. I think in the end Universal Basic Income and Universal Healthcare is the ultimate solution as well. Deo Vindice !

  2. $250,000-400,000 can be young white couples which children who can barely afford a house and car that would match their professional status. For example, a doctor who has 12 years of breaking even after college. Housing inflation and private schooling tuition inflation are serious obstacles to living anything like prosperous white professionals did 35 year ago. $250,000 may not be middle class in the American sense of “not a true bourgeois but not poor” but it is not rich, especially when that sort of income doesn’t come until you’re half-way to 70 and especially when the future financial security of Americans in general is dubious. Inflation is coming for cash-drained rural America (on the racial dot maps there are racial “asians” everywhere there are rural settlements, running cash businesses taking cash out of the country).

    • “ 250,000-400,000 can be young white couples which children who can barely afford a house and car that would match their professional status”

      Who cares? Those people are Cultural Liberals who voted for Biden because he was anti-racist. They support Open Borders, BLM, Race Mixing, and the destruction of White America. I hope their precious White children get mercilessly bullied by Black and Brown kids at school, and I hope those kids grow up to hate their parents until one day, they either become White Nationalists or just kill themselves.

      College Educated White Suburbanities are the cancer of humanity. And now, they don’t want to be taxed, even though we were told by Zach Beauchamp of Vox last month such voters would support Economically Progressive Policies. Scum, all of them.

      BTW, if your median household income is over $250,000 and you still “can’t afford a house,” that’s 100% their problem. Clearly, they need to downsize and cut their spending habits. I might have some sympathy for a family with a household income of less than $40,000 living paycheck to paycheck, but a family of $250,000? Screw them. Raise their taxes, appropriate their wealth, flood their manicured suburbs with Negroes and Mexicans, defund their police forces, make their lives miserable. They are Race Traitors.

      You know, there’s a lot of things I should have said and wrote when I joined the WN Movement as an ex-conservative and Tea Partier. One of them was this: Rush Limbaugh, Sean Hannity, Mark Levin, Bill O’Reilly, Fox News, and the Right Wing media ecosystem might have all been grifting and shilling for Republicans, but that doesn’t mean they were wrong about Liberals. The stuff Joe Biden is doing in 2021 is something that was easy to see happening back in 2005-2009 if you followed and believed in the above mentioned Right Wing sources. Liberalism/Progressivism is a disease. If the water temp was 150 degrees in 2009, its close to boiling point now.

      The one thing I didn’t expect is that College Educated White Suburbanities would so strongly support it, since they used to be the Republican Party base, and since Progressivism targets the suburbs for destruction, at least in theory. I guess Suburbia truly is a cancerous lifestyle if it is the cause of its own death. I always thought the Progressive base was a coalition of non-whites + inner city bohemian types. I didn’t think it was Educated Professionals. That must have been something that escaped my attention in the Bush and early Obama days, as admittedly, talk radio and Fox News never really highlighted who the Progressive base is.

      • They aren’t all like that. Look at this way, if you’re a neurosurgeon from a modest-income conservative family, you have a lot of responsibilities. Your house is going to cost more than $500,000, but just to break even from med school has taken to age 34. You can barely afford to buy a house that is in the same neighborhood as your parents (that they bought in their late 20s) despite having a high status professional job. Moreover the future can’t be counted on. The point is, upwardly mobile whites pay the price of taxing $250,000. Tax people who really can afford it, not people whose job requires higher pay to make up for the many years of intense training. Don’t target conservative upwardly mobile whites, we’re going to need their help.

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