Staff Reports
President Joe Biden, in his latest attempt to play Robin Hood, plans to beg Congress to raise taxes on corporations during his snooze-inducing State of the Union address. Biden will use this platform to make his case for another term as president, but his tax hikes are about as unlikely to happen as finding a pot of gold at the end of a rainbow. With Republicans in control of the House and Democrats barely holding on to the Senate, Biden’s tax agenda seems more like a fairy tale than a realistic plan.
State of the Union 2024: Here are the new corporate tax hikes Biden is proposing https://t.co/IfGn9NE3NS https://t.co/IfGn9NE3NS
— Washington Examiner (@dcexaminer) March 7, 2024
Biden’s proposed corporate tax rate increase from 21% to 28% is like trying to teach a cat to do calculus – it’s just not gonna happen. The 2017 tax cuts, brought to us by the one and only President Donald Trump, brought the corporate rate down from a whopping 35%. And now, Biden wants to rain on everyone’s parade by hiking it back up? Good luck with that, Joe.
But wait, there’s more! Biden also plans to up the corporate minimum tax from 15% to 21% and put the squeeze on high-paid employees’ wages. Yikes! It’s like he’s trying to make it rain taxes on the corporate world. And it doesn’t stop there; Biden also wants to quadruple the stock buyback tax and take away the tax break for corporate jets. What’s next, taxing rainbows and sunshine?
Biden’s tax proposals aren’t just a pipe dream; they’re also a slap in the face to the wealthiest in the country. He keeps saying he won’t raise taxes on anyone making less than $400,000 a year, but let’s face it – those folks are the ones who keep the country running. Soaking the rich might sound like a good plan to Biden, but Congress has been smart enough to block most of those efforts so far.
In the end, Biden’s tax hike ambitions are like trying to fit a square peg into a round hole. His approval ratings are already in the gutter, and his economic approval is even worse. Not to mention, inflation has made life more unaffordable for everyday Americans, and Biden’s blaming “shrinkflation,” whatever that means. It’s like he’s trying to blame the boogeyman for his economic failures.
If Biden can’t get his act together, the 2024 election might just be a rude awakening for him. But for now, let’s sit back, relax, and watch the State of the Union address turn into a snooze fest – brought to you by Joe Biden and his tax hike daydreams.
