That is an objectively and unequivocally true statement.
Norquist: Democrats' planned business taxes higher than communist China's | Just The News
Under the Democrats' plan, the corporate tax rate would rise to 26.5% from 21%, and the top capital gains tax rate would jump to 28.8% from 23.8%.
Norquist said the new hikes in corporate and capital gains tax rates, among others, will impact average American workers, whether directly or indirectly.
"They're going to take the corporate rate — the tax that American companies pay — up higher than communist China's business tax, higher than the European average," he said. "Okay, so we will not be competitive with China when people are looking to invest, not competitive with Europe when people are looking to invest, start new firms.
26.5% isn’t the end of the world. It was 35% before Trump slashed it to 21%. At least they’re keeping it substantially below the 35%. But we should be lowering it more, particularly in a weakening economy.
I often wonder if politicians in general, and Democrats in particular, have even a basic understanding of math.
If you want businesses to flock to your shores, you have to make it attractive to them to do so. The easiest and best way to do that is to lower the corporate tax rate. If you want businesses to grow more, expand the economy, increase wages, and hire more people, you have to remove the economic burdens that prevent them from doing so. The easiest way to do that is to lower corporate taxes.
How is this not obvious to everyone?
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