DEMS TAX RATE HIGHER THAN COMMUNIST CHINA

House Democ­rats are propos­ing almost $3 tril­lion ($3,000,000,000,000) in tax increas­es includ­ing tax increas­es on small busi­ness­es and work­ing fam­i­lies. This is the largest tax increase since 1968 com­pared to the size of the econ­o­my and the largest tax increase ever in nom­i­nal dollars.

Some of these tax increas­es include:

Rais­ing tax­es on work­ing fam­i­lies by increas­ing the fed­er­al cor­po­rate income tax rate from 21 per­cent to 26.5 per­cent. This tax increase will be passed along to work­ing fam­i­lies in the form of high­er prices, few­er jobs, and low­er wages. This will give the U.S. a com­bined state-fed­er­al rate of 30.9 per­cent, high­er than our for­eign com­peti­tors includ­ing Chi­na, which has a 25 per­cent cor­po­rate tax rate, and Europe which has an aver­age rate of 21.7 per­cent. The devel­oped world aver­age (OECD) is 23.5%.

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