Senate Democrats’ tax proposals would severely disadvantage U.S. businesses relative to their foreign competitors with tax increases under Foreign-Derived Intangible Income (FDII) and the Global Intangible Low-Taxed Income (GILTI) minimum tax, resulting in fewer jobs, lower wages, and decreased investment in U.S. manufacturing and innovation.
Category: Taxation
8.3% is the highest such inflation number ever recorded since the metric began...this beats the previous record of 7.8% set last month. It’s clear that, unlike what President Biden says, the rise in inflation is absolutely not transitory.
“I’m astonished my Democrat colleagues think it’s a good idea to punish a company’s investors—including those invested via a 401k or a pension plan"
Chairman Rick Scott joined Maria Bartiromo on FOX Business: Mornings with Maria to discuss the latest on President Joe Biden’s botched Afghanistan withdrawal and the Democrats’ reckless tax and spending spree.
Democrats have also floated retroactive tax increases on the American people.
"In their reporting on the Democrats’ socialist spending bill, the New York Times said it would 'touch virtually every American’s life, from conception to aged infirmity.'"
benefit of the committee process, we fear that it will be the lobbyists and special interests who will have written a multi-trillion package rather than the people’s elected representatives.”
“This monstrous spending package recklessly increases what was already the highest sustained spending spree in American history. It asks taxpayers, their children, and grandchildren to pay for radical socialist proposals that will harm our economy now and obliterate economic prosperity in the future."
According to one analysis, the bill would usher in a new “cradle to the grave” relationship between the federal government and American citizens…also known as socialism.
Senate Democrats may encompass the rewriting of business, international, energy, housing, and other significant structural elements of the tax code, along with sweeping changes to our nation’s health programs, federalization of unemployment insurance, and more. Unfortunately, the scope and substance of this legislation remains unclear, as Democrats have chosen to write and discuss the bill in secret, with no Republican input or consultation.
DonnyFerguson.com 