Correction, Please!
Biden Eyes Major Federal Tax Hikes, Creation of Global High-tax Cartel
Tax till it hurts: Joe Biden’s tax plan would hit corporations with major taxes while at the same time giving new subsidies to chosen industries, picking winners and losers. The Tax Foundation estimated that the plans would reduce business investment by more than a trillion dollars. (Photo credit: AP Images)
Item: In Pittsburgh on March 31, President Biden unveiled “a $2 trillion jobs, infrastructure and green energy proposal to reshape the U.S. economy,” as the Washington Post reported in its April 1 print edition. The paper quoted his remarks during his pitch for the American Jobs Plan, in which Biden said, “We have to move now. Because I’m convinced that if we act now, in 50 years, people are going to look back and say this was the moment that America won the future.”
In an editorial on April 1, the left-wing Post enthused: “Mr. Biden’s plan represents an unapologetic commitment to a bigger federal government, with bigger responsibilities, for the foreseeable future.” “At its heart,” the paper said, this proposal “shifts hundreds of billions of dollars from the private sector to the public sector on the theory that the latter can put them to better use than the former.”
Item: The April Fool’s Day edition of the New York Times was beside itself with multiple page-one stories, festooned with these headlines, “Biden Plan Stresses Jobs, Roads and Growth”; “Tax Pitch Challenges G.O.P. Notions on Spurring Growth”; “$2 Trillion for ‘Once in Generation’ Fix of Infrastructure”; and, “Big Bet: Fighting Climate Change Will Add to Work Force.” The paper, while describing the proposed tax increases, happily noted that this is “the first half of what will be a two-step release of the president’s ambitious agency to overhaul the economy and remake American capitalism, which could carry a total cost of as much as $4 trillion over a decade.”
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