No Economic Benefits Will Come from Corrupt Idiot Slow Joe Bozo Biden’s Colossal Tax Hikes to Fund Insane Massive Infrastructure Bill.
Impostor President Corrupt Idiot Slow Joe Bozo Biden’s Commie Handlers want him to sign off on another Massively Insane Expensive Spending Bill our nation doesn’t have the money for under the guise of “fixing infrastructure,” but the Colossal Tax Increases the Commie Handlers are also pushing will offset any benefits from injecting trillions into the economy, according to a new analysis.
Last week, Corrupt Idiot Biden — in between losing his place during speeches and nearly falling down again on the steps of Air Force One — trotted out a $2.25 Trillion Insane Spending Bill the Commie Handlers are calling a once-in-a-generation “investment” that will supposedly create the “strongest, most resilient, innovative economy in the world.”
However, a new study of the Colossal Tax Hikes contained in the wrongly named Fake American Jobs Plan will end up costing the economy far more than any benefits the country will receive from government spending amounting to hundreds of billions of dollars.
Fox Business Network notes:
The eight-year plan will make massive investments in the nation’s roads and bridges, as well as transit systems, schools and hospitals. It will be funded by raising the corporate tax rate to 28% from 21% – rolling back part of former President Trump’s 2017 tax cuts – and by increasing the global minimum tax on U.S. corporations to 21% from 13%.
But according to an analysis of Congressional Budget Office data published by the Tax Foundation, a center-right think tank, federal investments only deliver half the economic as private-sector investments — roughly 5% versus 10%. A dollar of federal spending results in only about $0.67 of actual investment because state, local, and private sector entities reduce their spending in response.
“Raising taxes will not slow the economy at all,” Impostor President Corrupt Idiot Slow Joe Bozo Biden lied during remarks on the March jobs report at the White House. “We’re asking corporate America to pay their fair share. It will not slow the economy at all.”