Finance / Politics

The Chamber of Commerce’s Bill Comes Due

tax biden chamber commerceJoe Biden’s address to Congress was slippery as soap, but on one issue the president was extremely direct: He’s coming after corporate America. Oh, and he sends his thanks to the U.S. Chamber of Commerce for helping make that possible.

The nation’s premier business lobby didn’t really get a shout-out in the speech, but it deserved one. Mr. Biden spent his address pitching nearly $4 trillion in spending, most of it to be funded by huge hikes in the corporate tax rate, capital-gains and dividends levies, income taxes on small-business pass-throughs, and even…

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Reprinted with permission from - The Wall Street Journal - by Kimberley A. Strassel

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6 months ago

The Chamber of Commerce backed nearly two dozen Democrats in the 2020 elections, as well as Joe Biden for President, over congressional Republicans and President Trump. A good percentage of those congressional candidates won, ensuring a Democrat majority House of Representatives.

The Chamber wanted two things:

1) The southern border re-opened to allow cheap, illegal labor to come into the country from South America to depress wages and maximize profits for their member companies in the agriculture and meat processing businesses. Biden has already delivered on that front causing the worst illegal immigrant problem since Obama. Notice you don’t hear the Chamber complaining about the thousands of illegals streaming into the country each and every day.

2) They wanted the a return to normal with respect to business with China. Many of the Chamber’s members view China as the most valuable market on earth over the United States. China is where they see the biggest growth potential for their products and services and they apparently love the ability to utilize China’s slave labor workforce to produce goods that can later be sold here and around the world. To date, Biden seems to be moving quickly to give the Chamber what they want regarding a return to “business as usual” with China.

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