Corporate taxes are a cost of doing business.
When you raise corporate taxes, you raise the cost of doing business.
Raising the cost of doing business will increase prices, decrease wages, decrease returns to savers and pension funds, and/or reduce overall economic growth.
Higher corporate taxes will be paid by everyone.
Bidenomics- Soaring Interest Costs
Interest rates have dramatically increased under the Biden Administration causing interest payments on US debt held by the public to soar under Biden to an average of $47.2 billion per month from an average of $29.7 billion per month under his predecessor. Over a 4 year Presidential term this is equivalent to an increase in Government spending of $840 billion.
Hard earned tax dollars being spent on interest to fund profligate spending instead of helping workers and the economy.
Despite the herculean efforts expended by the Biden DOJ, to date, not one person has be charged with, let alone convicted, of insurrection .
18 U.S. Code § 2383 - Rebellion or insurrection - Whoever incites, sets on foot, assists, or engages in any rebellion or insurrection against the authority of the United States or the laws thereof, or gives aid or comfort thereto, shall be fined under this title or imprisoned not more than ten years, or both; and shall be incapable of holding any office under the United States.
Bidenomics - Breaking the Piggy Bank
The Biden Administration continues to grow the US debt significantly faster than the Obama and Trump Administrations. Extra legislative spending such as ignoring the SCOTUS and giving away hard earned tax dollars for student borrowers and the ever increasing costs of their green initiatives are not sustainable.
How long will the world and markets continue to support this borrowing binge?
Bidenomics - Lagging Oil Production and Higher Prices
US crude oil production under Biden is significantly behind the production trends of Obama and Trump. The Biden policies (restricting leases, restricting development, ending pipeline construction, unjustified green legislation and initiatives) are likely behind this lagging performance.
The result is higher prices and the world's greater dependance on Middle East, Russian and dictator's oil.
The Biden administration recently promised it will finally loosen the purse strings on $39 billion of CHIPS Act grants to encourage semiconductor fabrication in the U.S. But less than a week later, Intel announced that it’s putting the brakes on its Columbus factory. The Taiwan Semiconductor Manufacturing Company (TSMC) has pushed back production at its second Arizona foundry. The remaining major chipmaker, Samsung, just delayed its first Texas fab.
This is not the way companies typically respond to multi-billion-dollar subsidies. So what explains chipmakers’ apparent ingratitude? In large part, frustration with DEI requirements embedded in the CHIPS Act.
…The law contains 19 sections aimed at helping minority groups, including one creating a Chief Diversity Officer at the National Science Foundation, and several prioritizing scientific cooperation with what it calls “minority-serving institutions.” A section called “Opportunity and Inclusion” instructs the Department of Commerce to work with minority-owned businesses and make sure chipmakers “increase the participation of economically disadvantaged individuals in the semiconductor workforce.”
…Handouts abound. There’s plenty for the left—requirements that chipmakers submit detailed plans to educate, employ, and train lots of women and people of color, as well as “justice-involved individuals,” more commonly known as ex-cons. There’s plenty for the right—veterans and members of rural communities find their way into the typical DEI definition of minorities. There’s even plenty for the planet: Arizona Democrats just bragged they’ve won $15 million in CHIPS funding for an ASU project fighting climate change.
…tired of delays at its first fab, [TSMC]flew in 500 employees from Taiwan. This angered local workers, since the implication was that they weren’t skilled enough. With CHIPS grants at risk, TSMC caved in December, agreeing to rely on those workers and invest more in training them. A month later, it postponed its second Arizona fab.
Now TSMC has revealed plans to build a second fab in Japan. Its first, which broke ground in 2021, is about to begin production. TSMC has learned that when the Japanese promise money, they actually give it, and they allow it to use competent workers. TSMC is also sampling Germany’s chip subsidies, as is Intel.
…The CHIPS Act’s current identity as a jobs program for favored minorities means companies are forced to recruit heavily from every population except white and Asian men already trained in the field.
Fair is subjective
Tax code already progressive Top pay the highest and increasing share of total taxes Higher corporate taxes result in higher prices, lower wages, lower returns, and/or lower investment.Hamas is evil.
Iran is evil.
Israel not evil.
Biden believes somehow if he gives more and punishes less that Iran and Hanas will somehow stop their evil behaviors.
https://x.com/moxlosllc/status/1766769970908631077?s=46&t=Y4fVsDnz2q8uZ3VNKeco4A
Biden's Jobs Smoke and Mirrors
Biden continues to misrepresent his job regarding jobs.
Too many people not working.
Full time jobs are suffering.
And while he continues to try to take credit for the large number of jobs added during his administration he fails to provide the proper context that just like Trump "created" record jobs after the Pandemic, much of his "job creation" is due to a recovery after the government encouraged shut down.
Biden's real defense spending as a percent of the real GDP is really low.
Obama significantly reduced real defense spending.
Trump increased real defense spending.
Biden’s defense spending essentially flat being left behind by his extensive non-defense spending
A combination of minimal increase in real defense spending and a significant increase in total real spending results in record low levels of real defense spending as a percent of real GDP.
Title 8, U.S. Code, sec. 1225(b)(1)(B)(IV) states: Any alien subject to the procedures under this clause shall be detained pending a final determination of credible fear of persecution and, if found not to have such a fear, until removed.
Title 8 U.S. Code, sec 1182(f): Whenever the President finds that the entry of any aliens or of any class of aliens into the United States would be detrimental to the interests of the United States, he may by proclamation, and for such period as he shall deem necessary, suspend the entry of all aliens or any class of aliens as immigrants or nonimmigrants, or impose on the entry of aliens any restrictions he may deem to be appropriate.
https://x.com/moxlosllc/status/1765544073862029733?s=46&t=Y4fVsDnz2q8uZ3VNKeco4A
Biden's Borrowing Binge
Bidenomics is resulting in record increases in Government borrowing. The critical question is: how much debt will the markets support for how long? What is clear is that if or when the market looses confidence that this debt can be repaid without significant inflation, interest rates will blow up.
US President Joe Biden told Prime Minister Benjamin Netanyahu that the US will not aid any Israeli counterattack on Iran , US media report,...
