Manchin Rejects Corporate Tax Hike

[Meathead]

Well, Joe's not getting his 21 - 28% tax hike. Manchin should just change parties and caucus with the GOP.

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

 

[Orangecat]

Excellent. Manchin is more concerned about keeping the economy strong than virtue signaling.

 

[TNHarley]

and closing tax loopholes
HAHA like a bunch of corporatists are going to do that

 

[Claudette]

Saw him on an interview once and like what he had to say. Not a bad guy for a Dem. LOL

 

[marvin martian]

Well, Joe's not getting his 21 - 28% tax hike. Manchin should just change party and caucus with the GOP.

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

He should switch with Romney.

 

[Mikeoxenormous]

and closing tax loopholes
HAHA like a bunch of corporatists are going to do that

Tax loopholes, instead of bitching about them, people should study them and use them to their advantage. I learned all that shit while in Saudi Arabia, where i was paying no income taxes and came back with lots of invested money. The greatest tax loophole, is Dividends.

How Are Dividends Taxed? | The Motley Fool

 

[task0778]

I give Mancin and Sinema a lot of credit or not caving in and supporting this tax hike and the end of the filibuster. They might vote for the infrastructure bill, assuming the Senate parliamentarian allows a 2nd spending bill to pass via reconciliation. Which ain't supposed to happen, they're only supposed to be able to do one spending, one revenue, and one debt bill each year that way.

 

[Esdraelon]

I give Mancin and Sinema a lot of credit or not caving in and supporting the end of the filibuster. They might vote for the infrastructure bill, assuming the Senate parliamentarian allows a 2nd spending bill to pass via reconciliation. Which ain't supposed to happen, they're only supposed to be able to do one spending, one revenue, and one debt bill each year that way.

I agree. NO ONE is going to stop the spending but if he and or Sinema stand against killing the filibuster OR those 2A abominations, they may well save this country from the beginning of a REAL, HOT Civil War. These stupid bastards seem to believe we're just going to accept them codifying their ability to cheat and the imposition of FUNDAMENTAL changes to our Constitutional rights without going off on them.

 

[easyt65]

SCREECHING HALT
BREAKING NEWS
Key Democratic senator rejects Biden tax hike to finance $2T spending plan


I'm pulling for Joe....MANCHIN!

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

 

[Jets]

Manchin said Monday he would instead support raising the corporate tax rate to 25 percent, a level he identified last month as something he could back.

Redirect Notice

www.google.com

 

[TNHarley]

If they closed loopholes I dont see why they would have to raise taxes.
Of course, they only do it for political theater. Washington NEVER wants to actually fix their fuck ups. NEVER.

 

[Kondor3]

I have observed and commented for years that the Democrats are every bit as full of $hit as Republicans... just in different ways.

And... the Democrats are full-of-it clean up to the ears when it comes to padding the Infrastructure bill with gigantic slush-funds for other purposes...

Want to build, expand and overhaul roads and bridges and related? No problem. I'll stand with you. Hell... I'll even back you for passenger rail projects.

Want to give inner-city hood-rats Internet? Free child day-care? Forgive student loans? Funds for Illegal Aliens? Bull$hit. I hope the Pubs stand their ground.

As to taxing Big Business more heavily... fine by me... force some of 'em back on-shore for all I care... but don't kill The Goose that Laid the Golden Egg.

But delusional idiot Dems think they've got some kind of "mandate", when the truth is that they were only granted power again to rid the Republic of Rump.

Now that that existential danger to American representative democracy has abated, the idiot Dems need to watch their Ps-and-Qs or they'll lose again soon.

 

[Votto]

Well, Joe's not getting his 21 - 28% tax hike. Manchin should just change parties and caucus with the GOP.

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

Wait a second!

But they will raise taxes on the rest of us, right?

How can I live another day without the government taking more of my money?

 

[bendog]

Well, Joe's not getting his 21 - 28% tax hike. Manchin should just change parties and caucus with the GOP.

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

Manchin is fine with increasing the corp rate. As were some gopers back when bipartisanship was still a word with more than an ironic meaning.

 

[Fueri]

And their plan to keep companies from fleeing if they do raise taxes is to ask other countries to implement minimum tax rates.

So their plan is to ask countries to intentionally discourage foreign investment and the resultant growth of their own economies so we can jack taxes on companies here.

lol. you can't make this shit up. This would be the dumbest thing out of the Biden administration so far if they hadn't repealed Remain in Mexico, which will be a tough one to beat.....

 

[BluesLegend]

Well, Joe's not getting his 21 - 28% tax hike. Manchin should just change party and caucus with the GOP.

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

He should switch with Romney.

It would not surprise me one bit if Manchin voted against the tax hike and Romney voted for it.

 

[Aldo Raine]

If they closed loopholes I dont see why they would have to raise taxes.
Of course, they only do it for political theater. Washington NEVER wants to actually fix their fuck ups. NEVER.

They absolutely would not have to raise taxes if they closed most of the ridiculous loopholes. In fact they could most likely lower rates.
MAGA

 

[bendog]

And their plan to keep companies from fleeing if they do raise taxes is to ask other countries to implement minimum tax rates.

So their plan is to ask countries to intentionally discourage foreign investment and the resultant growth of their own economies so we can jack taxes on companies here.

lol. you can't make this shit up. This would be the dumbest thing out of the Biden administration so far if they hadn't repealed Remain in Mexico, which will be a tough one to beat.....

That's not really the issue.

The Bottom Line
There's been much debate—particularly in the U.S. with a historically corporate tax-friendly Republican party in power—over whether or not a lower corporate tax rate spurs economic growth. While the impact of the TCJA on the overall U.S. economy won't be known for some time, it is likely that U.S. corporations will continue to park money in tax-free countries such as Bermuda, the Bahamas, and the Cayman Islands even as they create jobs in the U.S.

How the U.S. Compares
With the Tax Cuts and Jobs Act (TCJA) of 2017, the U.S. corporate tax has been slashed from 40%—the second highest in the world as of 2017—to 21% in 2018, below the global corporate tax rate average of 23.79%. The decrease in the U.S. corporate tax rate is one of the most dramatic decreases in any country since the beginning of the 21st century. Only Kuwait, which decreased its corporate tax rate from 55% to 15% in 2009, had a bigger percentage change.


In contrast, it took Canada nine years to slowly decrease its corporate tax rate from 36.6% in 2003 to 26.5%. Japan also slowly decreased its corporate tax rate from 42% in 2003 to 30.62% in 2019.


The Bottom Line
There's been much debate—particularly in the U.S. with a historically corporate tax-friendly Republican party in power—over whether or not a lower corporate tax rate spurs economic growth. While the impact of the TCJA on the overall U.S. economy won't be known for some time, it is likely that U.S. corporations will continue to park money in tax-free countries such as Bermuda, the Bahamas, and the Cayman Islands even as they create jobs in the U.S.

Countries with the Highest & Lowest Corporate Tax Rates (investopedia.com)

That is, EVEN WITH THE MCCONNELL TRUMP CORP TAX CUT corps have every incentive to keep cash offshore. I'd agree with Manchin that 28% is still probably high to keep corp's from having incentives to locate their actual office/production sites elsewhere. But it's a totally seperate issue as to whether we should penalize corporations for keeping cash in save havens unless safe havens cease being tax shelters.

 

[basquebromance]

they're protesting on the streets of West Virginia...and East Virginia!

 

[bendog]

Well, Joe's not getting his 21 - 28% tax hike. Manchin should just change party and caucus with the GOP.

Manchin rejects Biden's corporate tax hike

Sen. Joe Manchin said Monday that he does not support President Biden's proposed tax increases on corporations as part of a nearly $2.3 trillion spending proposal, potentially dealing a fatal blow to a key revenue raiser included in the infrastructure initiative.

www.foxbusiness.com

He should switch with Romney.

It would not surprise me one bit if Manchin voted against the tax hike and Romney voted for it.

No way Mittens goes for 28%.

I'm not at all sure why the WH puts its stamp of approval on this bill. I'm beginning to believe that complaints about Klain being a ideology warrior may be right.

We have a historic opportunity. Even if we somehow all go to elec cars someday, ..... I-95 is a national disaster, not just a disgrace, and I refuse to use I-20 anymore. I actually make better time on old US highways.

We are attempting to micromanage market choices, not just by consumers but by corporations. And Biden ran as a moderate.