Jimmy Dore: Rigged System: How Richest Corporations Paid ZERO In Taxes

I was hoping that we could get the corporate tax rate up to 28% – halfway back up to what it was before Trump – in Joe Biden’s infrastructure bill. Sadly, it looks like this is too heavy of a lift though for Joe Biden’s coalition of wealthy suburbanites, Wall Street and the Chamberpot of Progress.

Wall Street Journal:

“WASHINGTON—President Biden’s proposed tax increases on corporations as part of a $2.3 trillion infrastructure plan have drawn a skeptical reaction from some Democrats, who instead favor borrowing money to pay for the investments or raising other levies, like the gasoline tax, to do so.

The proposal would raise the corporate tax rate to 28% from 21% and increase taxes on companies’ foreign earnings. The White House said the tax increases would, over 15 years, cover the cost of the $2.3 trillion package, which puts money toward improving roads, bridges, and transit systems, along with expanding broadband access and myriad other efforts.

Republicans have widely rejected Mr. Biden’s proposed tax increases, but some Democrats are raising their own questions about the plan. With very narrow majorities in the House and Senate, Democrats will need nearly unanimous support in their party to advance the package without Republican votes, and many lawmakers are floating potential changes to the plan. …”

My hopes were dashed this afternoon though by the Corporate Democrats who also recently shot down the $15 minimum wage. How long can shit continue going on like this?

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3 Comments

  1. As long as the govt is allowed to be run by corrupt, greedy tyrants, it will go an until the country collapses under its own greed.

  2. There were almost enough populist leaning democrats to win Bernie the primary in both of the last major election cycles.

    Do you notice everytime that the Democrat party moves its goalposts on something or sounds off with a new article of faith that Bernie is one of the first to fall in line and sound off the new slogan to signal his loyalty?

    The people that have supported him know he’s finished, and there is alot of dissaffection because he has been such a cuck about kneeling to Hillary and then to Biden, and never really pushing for any of his populist rhetoric in the Senate to any meaningful degree.

    Bernie has been a meme candidate since the 2016 election cycle. So has Trump. Most of the supporters of both Bernie and Trump are White/lower income. Bernies people have more social liberal values, but all the populism in the Democrat party originates with this bloc.

    One fusion candidate could pick them all up.

    That whole group should be getting wise to the fact these social issues like trans are being used as wedges to keep that demographic split and unable to lash out with populist policy against the rurling class and their corporate backers.

    As conditions deteriorate, phony social issues that dont register low on maslow’s hierarchy will become less relevant and this gap between the two factions should close.

    HW: I’d like to hear your thoughts on this.

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