3rd Mitch McConnell
Defend corporate tax rates and what for?
As we know, Republicans are now a subversive, nervous anti-corporate party that wants to stick to the stuffed shirts in the C-suite who believe that “people” are allowed to “vote”. Where Republicans draw the line for their backlash against American corporation is their support for any policies that could marginally affect a company’s bottom line. When Republicans and Democrats on the Hill started talking this week to see if they could find common ground on infrastructure, Republicans were determined on one point: to reverse one of the business tax cuts from their signed 2017 tax bill as an infrastructure payment, would make for a total non-runner. The leather-jacketed fonz of this anti-corporate outsider, Senate minority leader Mitch McConnell, said he didn’t think there would be “any” Republicans who would vote to overturn portions of the tax cut and jobs bill . It makes perfect sense that Republicans in Congress wouldn’t want to overturn their beloved tax law. That doesn’t make it good news, however. A Morning Consult poll this week found that 57 percent of voters supported Biden’s infrastructure plan. When asked about financing through “15 years higher taxes on companies”, 62 percent of voters were in favor. In other words, voters don’t see increased corporate taxes as a mere acceptable compromise in paying for the infrastructure – they see it as adding value to the package. Perhaps some Republicans, realizing the anger emanating from their grassroots against “bright capitalism”, will see that it is not worth dying on the mound of a 4 percentage point corporate tax hike. Maybe there are already a few.