| Unleash Prosperity Hotline Issue #376 09/23/2021 |
| 1) Voters: Whoops, We Made A BIG Mistake Last November New Harris poll has Trump at a 48% voter approval rating and Biden at 46%. This is the first time Trump has bested Biden in the polling data during the Biden presidency. The meltdown continues. Severe buyers’ remorse seems to be settling in with voters due to the barrage of policy failures: inflation, debt, Afghanistan, COVID, the border, and crime.  |
| 2) The Make America Uncompetitive Act We’ve made the point many times that by far the biggest winners from the Biden $2 trillion tax hike are the workers – in China, that is. Biden’s plan does the opposite of the Trump tax cuts. Trump reduced tax rates well below the international average to bring jobs, factories, and capital back to the U.S. It worked in spades with more than $1 trillion repatriated back to America. The Biden plan raises taxes on goods and services produced in the United States, while most other countries continue to cut their corporate rates. (No the global minimum tax scheme that Treasury Secretary Janet Yellen is peddling) won’t much effect this outcome – if at all – because the lowest tax countries like Ireland have no incentive to join the tax cartel. The latest news from the tax-writing committees in Congress is that the federal corporate tax rate will be raised from 21% now to 26.5%, and then you have to include the 4.5 percentage point average state/local corp. taxes. This leaves the U.S. with a higher business tax rate than communist China, Russia, and socialist Sweden. Is this Joe’s version of putting America first?  |
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