Bidenomics: Higher tax rates, more loopholes – Washington Examiner
President Joe Biden has increased the corporate tax rate while also increasing tax loopholes and giveaways, leading to a complex tax code that benefits politicians by increasing government power and influencing the behavior of companies. Biden has signed bills with subsidies and narrow tax breaks for big corporations, doubling narrow corporate breaks despite his rhetoric about fairness. The high tax rate combined with loopholes allows politicians to control company behavior and justify massive giveaways to other groups. Biden’s tax policy has helped his inner circle make millions through lobbying and consulting on the tax code complexity.
