Prominent Democrats have said six times that raising taxes during a recession is a bad idea, but Democrats are looking to raise taxes on corporations over the weekend.
While President Joe Biden’s economy fell into recession last month, he is pushing congressional Democrats to pass a settlement bill — the so-called “Reducing Inflation Act.” The act imposes a minimum tax on companies with profits over $1 billion.
In the past, Democrats have opposed raising taxes on businesses during recessions.
- In 2009, then-President Obama statement“You don’t raise taxes in a recession … the last thing you want to do is raise taxes in a recession.”
Flashback – Barack Obama in 2010:
“You don’t raise taxes in a recession.”
“The last thing you want to do is raise taxes during a recession.”
Democrats in 2022 #BidenRecession: Raise taxes! pic.twitter.com/K49IZW3WBx
— Steve Guest (@SteveGuest) July 28, 2022
2. In 2010, then-Governor. Joe Manchin (D-WV) Say He didn’t “think that in a recession you’re going to mess up any taxes or raise any taxes.”
Democrat Joe Manchin in 2010: “I don’t think you’re going to mess up any taxes or increase any taxes in a recession.” pic.twitter.com/pSvYpyOmwu
— RNC Research (@RNCResearch) August 2, 2022
3. In 2008, Sen. Chuck Schumer (D-NY) be opposed to Raise taxes in a recession. “If we’re in a recession and we’re in a tough economy, I don’t think Senator Obama or anyone else is going to raise taxes. You don’t want to take money out of the economy when the economy shrinks,” he said.
4. Schumer reiterate He made his stand again in 2008: “When the economy is down, you don’t want to raise overall taxes,” he said.
5. “When we have a recession, no one’s going to want to raise taxes,” Schumer again persist in in 2008.
Chuck Schumer in 2008: “You don’t want to raise overall taxes when the economy is down.” pic.twitter.com/cX63wvljmY
— RNC Research (@RNCResearch) August 4, 2022
Chuck Schumer, 2008: “When we’re in a recession, nobody’s going to want to raise taxes.” pic.twitter.com/QqUFjmlHuA
— RNC Research (@RNCResearch) August 4, 2022
6. In 2008, then-Senator Joe Biden clap hands As Obama put it, “the last thing we should do” is raise taxes in a recession.
Barack Obama during the 2008 recession: “In an economy like this, the last thing we should do is raise taxes on the middle class.”
Watch Joe Biden applaud and agree: pic.twitter.com/FtyZGGWg6L
— RNC Research (@RNCResearch) August 3, 2022
The bill, billed as an inflation-lowering measure, would further push Biden’s highest level of inflation in 40 years. “After months of failed talks on ‘Building Back Better,’ Sen. Joe Manchin (D-WV) and Senate Majority Leader Chuck Schumer (D-NY) brought together a so-called game-changing The legislative breakthrough was cynically advertised as a measure against budget deficits,” Breitbart News reported. “This makes sense in rude political ways because inflation is the number one problem facing American households and is tipping the economy into a stagflation recession”:
The first hint that this won’t be an inflation-reducing legislation is that the bill includes a massive expansion of government spending. Spending on energy and climate change is about $385 billion, according to the nonpartisan Budget Committee. $100 billion in new health care spending in the form of expanded Obamacare subsidies and expanded coverage of prescription drugs and vaccines.
Democrats have yet to finalize the bill. Under Senate rules, Senate lawmakers must address several issues in partisan legislation, such as Medicare drug price denials, climate change and health care regulations. Democrats are using the settlement to bypass the 60-vote filibuster that Republicans can use in a 50-50 divided Senate.
Follow Wendell Husseib Twitter @WendellHusebø.he is the author slave moral politics.
