Trump Declares Triumph After Arizona GOP Recount as Stock Market Crash Under Biden a Certainty

‘We won’: Trump and his allies barrel ahead with election lies despite Arizona review confirming his loss
https://www.cnn.com/2021/09/27/politics/arizona-trump-election-lies/index.html

U.S. Chamber Opposes Tax Hikes That Would Hurt Economic Growth, Competitiveness and Job Creation | U.S. Chamber of Commerce
https://www.uschamber.com/press-release/us-chamber-opposes-tax-hikes-would-hurt-economic-growth-competitiveness-and-job

“While Business Roundtable continues to support infrastructure investment, we do not support President Biden’s proposal in its current form,” said Bolten. “By significantly increasing taxes on corporations, the proposal would be counterproductive to the goal of increasing economic growth and job creation. Such tax increases would make the United States uncompetitive as a place to do business and make U.S. companies uncompetitive globally, slowing recovery and hurting American job creators and employees.
https://www.businessroundtable.org/business-roundtable-statement-on-american-jobs-plan

Consequences of a Higher Corporate Tax Rate: 1 Million Jobs Lost in First Two Years
Timmons: “America can’t afford that, especially now.”
“After decades of advocating for a tax system that provided competitive rates and modern international tax provisions, manufacturers in America kept our promises following the enactment of the 2017 tax reforms: we raised wages and benefits, we hired more American workers, and we invested in our communities. If we undo those reforms, all of that will be put at significant risk. Manufacturing workers will lose out on jobs, growth and raises. We should be building on that progress, not rolling it back. But the conclusion of this study is inescapable—follow through with tax hikes that give other countries a clear advantage and we’ll see far fewer jobs created in America.”

The study calculated the effects of increasing the corporate tax rate to 28%, increasing the top marginal tax rate, repealing the 20% pass-through deduction, eliminating certain expensing provisions and more. The negative consequences would include the following:
One million jobs lost in the first two years;
By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031;
Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively;

One million jobs lost in the first two years;
By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031;
Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively;
https://www.nam.org/consequences-of-a-higher-corporate-tax-rate-1-million-jobs-lost-in-first-two-years-13368/?stream=series-press-releases

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Author: H. A. Goodman

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