While Joe Biden's struggles to get through his 'Build Back Better' agenda, he was a huge hit in Europe.
In case you missed it, Biden signed up the U.S. for the 'global minimum tax' along with 135 other nations.
Basically, it will allow the U.S. government to get it's hands on more money, by requiring big corporations who have been getting better deals overseas, to pay a minimum tax rate of 15%, which of course is passed on to you and I, the consumer.
"Biden went to Europe and agreed with all the other countries to limit our ability to reduce taxes, so that we can't get our taxes lower than what China's are already" said Grover Norquist, president of Americans For Tax Reform, "Add to that, they now want to also have higher rates on individuals which would make us the highest taxed country in the world."
Not to be confused with 'Build Back Better', this global tax minimum is called the 'Made In America' tax plan. GOP lawmakers in the House call it moronic.
"Build Back Better is better for China" Norquist told KTRH, "These are massive taxes that will hit working people. Biden has closed down much of the economy still, we have inflation that Biden is giving us and now he wants to threaten tax increases on top of that. This is the wrong time to do stupid tax increases."
Not a good time at all right now for Democrats, and the Biden administration.
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