Donald Trump / Democrats / Finance / Politics / The Soapbox / Joe Manchin / Kyrsten Sinema / Taxes / Joe Biden / Reconciliation / Build Back Better

Corporate Taxes Will Not Go Up, and Guess Who's Entirely to Blame?

Posted On: Dec 3, 2021   |   Posted By: The New Republic

We always knew that taxes would be the hard part. Well, with Democrats trying to get the Biden budget over the goal line, everything has proven to be the hard part, but taxes are the hardest of the hard part s. And what the Democrats have come up with is... good? It soaks the rich. It just doesn't soak enough of them. And the reason why is all down to one person. I think you may know her. Joe Biden started out wanting to set the corporate tax rate back at the 28 percent level that was the law before
Donald Trump lowered it to 21 percent in 2017. Then the other Joe,
Manchin , the one who isn't the president but sometimes seems to think he is, said no; maybe 25, but that's about as high as I can go. Biden and Senate Finance Committee
Chairman Ron Wyden also supported raising the top marginal tax rate back to the 39.6 rate first imposed by Bill Clinton (in case you like to geek out on this kind of things, here's a chart of all federal marginal tax rates all the way back to 1862, when
Abraham Lincoln first...

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