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Biden Administration Looking to Hit Businesses with $2.5 Trillion Tax Spike (Details)

Because the pandemic didn’t put businesses under enough stress, Joe!?

John Salvatore

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Democrats: convincing the uninformed that Republicans are racist, while also working against the best interests of the American people.

Here’s the latest from Joe Biden’s abhorrent administration, via Breitbart:

The Biden administration released details of its plan to dramatically increase taxes on American businesses on Wednesday, reversing many of the key provisions of the 2017 Trump administration tax overhaul and replacing some tax breaks with direct government spending.

The program would shift the economy toward increased dependence on government spending to generate economic growth. For example, the plan would repeal a tax cut for income earned by U.S. companies exporting goods and services around the world and offer in its place government spending on research and development.

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CONTINUED:

Some corporations have expressed a willingness to accept a higher statutory tax rate, particularly those that pay far below the statutory rate. Amazon, which has frequently been reported to have paid no federal taxes and reportedly had an effective tax rate of just 9.4 percent in 2019, said it embraced the infrastructure plan and the tax hike. One effect of the hike could be to raise the cost of doing business for potential competitors of Amazon who less effectively duck corporate taxes. In addition, because Amazon is such a huge shipper of goods throughout the U.S., the company would benefit from improved infrastructure—especially if those improvements are not funded by usage fees.

The Biden administration claims that hiking the corporate tax rate to 28 percent and expanding a global minimum tax to 21 percent would largely pay for the $2.3 trillion spending plan President Joe Biden proposed last week. That plan is billed as an “infrastructure plan” but most of the spending would go to social welfare and racial equity programs long-favored by Democrats that have little to do with roads, bridges, airports, or other traditional infrastructure items.

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COVID Permanently Destroyed 60% of Businesses that Shutdown for Mitigation

New data finds that 60 percent of the businesses that shut down for COVID mitigation will be closed permanently and won’t be coming back.

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New data finds that 60 percent of the businesses that shut down for COVID mitigation will be closed permanently and won’t be coming back.

New data from Yelp shows the terrible state of affairs, according to CNBC.

Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll.

As of Aug. 31, some 163,735 businesses have indicated on Yelp that they have closed. That’s down from the 180,000 that closed at the very beginning of the pandemic. However, it actually shows a 23% increase in the number of closures since mid-July.
In addition to monitoring closed businesses, Yelp also takes into account the businesses whose closures have become permanent. That number has steadily increased throughout the past six months, now reaching 97,966, representing 60% of closed businesses that won’t be reopening.

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Is Biden's Vaccine Mandate Unconstitutional?

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“Overall, Yelp’s data shows that business closures have continued to rise with a 34% increase in permanent closures since our last report in mid-July,” Justin Norman, vice president of data science at Yelp, told CNBC.

Congratulations Joe Biden, Anthony Fauci, and the entire Democrat establishment for destroying most of the country with you ineffective, unscientific lockdowns.

Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.

New data finds that 60 percent of the businesses that shut down for COVID mitigation will be closed permanently and won’t be coming back. New data from Yelp shows the terrible state of affairs, according to CNBC. Yelp on Wednesday released its latest Economic Impact Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll. As of Aug. 31, some 163,735 businesses have indicated on Yelp that they have closed. That’s down from the 180,000 that closed at the very beginning of the pandemic. However, it actually shows a 23% increase in the number of closures since mid-July. In addition to monitoring closed businesses, Yelp also takes into account the businesses whose closures have become permanent. That number has steadily increased throughout the past six months, now reaching 97,966, representing 60% of closed businesses that won’t be reopening. “Overall, Yelp’s data shows that business closures have continued to rise with a 34% increase in permanent closures since our last report in mid-July,” Justin Norman, vice president of data science at Yelp, told CNBC. Congratulations Joe Biden, Anthony Fauci, and the entire Democrat establishment for destroying most of the country with you ineffective, unscientific lockdowns. Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston.

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Six Foot Social Distancing Rule Has Murky Origins, Says Former FDA Chief

So…was it all just made up?

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At the onset of the COVID-19 pandemic, there were plenty of precautions and guidelines being slung about, some a little more diligently than others.

This was a novel virus, after all, and the guidance of our experts was expected to shift somewhat as we learned ever more about the way this strain of coronavirus was going to behave.

But, as we’re finding out now, some of these suggestions may have come right out of thin air.

Scott Gottlieb, the former commissioner of the Food and Drug Administration (FDA), admitted during an interview on Face the Nation that the six foot social distancing rule recommended by public health officials for months on end was actually “arbitrary in and of itself,” and he noted that “nobody knows where it came from.”

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Speaking with Face the Nation’s Margaret Brennan, Gottlieb discussed the rules and risks early in the pandemic, explaining that the Trump administration shifted its focus to the impact lockdowns and rules would have on the economy and children.

The admission came during a conversation about bringing children back into the classroom.

“And in fact, when the Biden administration wanted to open schools in the spring, this past spring, they got the CDC to change that guidance from six feet to three feet,” Gottlieb continued, admitting the original guidance was “arbitrary” and had unknown origins.

“The six feet was arbitrary in and of itself, nobody knows where it came from,” he said. “The initial recommendation that the CDC brought to the White House and I talk about this was 10 feet, and a political appointee in the White House said we can’t recommend 10 feet.”

One can only imagine how things would have turned out differently for the restaurant and live music industries had there been an understanding that this number wasn’t based in absolute science.

At the onset of the COVID-19 pandemic, there were plenty of precautions and guidelines being slung about, some a little more diligently than others. This was a novel virus, after all, and the guidance of our experts was expected to shift somewhat as we learned ever more about the way this strain of coronavirus was going to behave. But, as we’re finding out now, some of these suggestions may have come right out of thin air. Scott Gottlieb, the former commissioner of the Food and Drug Administration (FDA), admitted during an interview on Face the Nation that the six foot social distancing rule recommended by public health officials for months on end was actually “arbitrary in and of itself,” and he noted that “nobody knows where it came from.” Speaking with Face the Nation’s Margaret Brennan, Gottlieb discussed the rules and risks early in the pandemic, explaining that the Trump administration shifted its focus to the impact lockdowns and rules would have on the economy and children. The admission came during a conversation about bringing children back into the classroom. “And in fact, when the Biden administration wanted to open schools in the spring, this past spring, they got the CDC to change that guidance from six feet to three feet,” Gottlieb continued, admitting the original guidance was “arbitrary” and had unknown origins. “The six feet was arbitrary in and of itself, nobody knows where it came from,” he said. “The initial recommendation that the CDC brought to the White House and I talk about this was 10 feet, and a political appointee in the White House said we can’t recommend 10 feet.” One can only imagine how things would have turned out differently for the restaurant and live music industries had there been an understanding that this number wasn’t…

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