Raising US taxes now ‘won’t work’: Congressman
Rep. Dan Meuser, R-Pa., on Presidents Biden’s tax plans.
Rep. Dan Meuser, R-Pa., argued that President Biden's capital gains tax plan is an "assault on small business" on FOX Business’ "Mornings with Maria."
HALF OF AMERICANS SAY THEIR TAX PAYMENTS ARE TOO HIGH, POLL SHOWS
REP. DAN MEUSER: It's an upside-down policy agenda, the idea that raising taxes is somehow going to be reasonably beneficial at a time of A) recovery, but B) as we're competing with the rest of the world as we are. You know, one thing Joe Biden doesn't remember is that the rest of the world got competitive and the U.S. did not since the George W. Bush days. Ireland's got corporate rate of 12%, U.K. 20%. We're losing jobs. The idea of ‘Made in the USA’ and then raising costs on ‘Made in the USA’ goods is again an upside-down policy agenda. It won't work. It'll send jobs overseas.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
That also affects pass-throughs. In my district, 75% of people in the private sector work for small businesses. A pass-through pays at that income tax level. So, therefore, all of my small businesses that speak out at the end of the day, at over $200,000 or $400,000 in income – their income rates are going to be going up.
CLICK HERE TO READ MORE ON FOX BUSINESS
They're also talking about eliminating the capital gains, which reduces their overall wealth. I mean, it's very, very detrimental. It's an assault on small business, but to our overall economy and, let's face it, to job creation where the revenues come from in the first place.
CLICK HERE TO WATCH THE FULL INTERVIEW
Source: Read Full Article