small business deals

Big Media Stays Silent As Leading CEOs Trash Biden Tax Plan As Bad For Business And Harmful To Workers

It’s tiresome to repeatedly dredge up how the national media blatantly cover or cheer for Democrats or liberal causes – either by sins of commission or omission.

Still, trust is an issue and facts are relevant, and thus it benefits conservatives to understand that the media, either by overhyping liberal positions or downplaying information that undermines them, are actively working on behalf of Democrats.

The latest example, courtesy of the conservative Media Research Center, is that a group of mega-influential business leaders just whacked President Joe Biden’s tax plan – and the big three news networks stayed silent.

The Business Roundtable, a group of leading CEOs, released a survey on Monday of 178 of its members that said Biden’s proposal would torpedo an economy that is gradually bouncing back from the devastating shutdown policies, particularly prominent across many blue states.

Some highlights from the report:

98 percent of CEOs indicated that hiking the corporate tax rate from 21 percent to 28 percent would have a “moderately” to “very” significant adverse effect on their company’s competitiveness.

75 percent said increasing the tax burden on American companies would negatively affect their company’s investments in R&D and innovation.

71 percent said it would negatively affect their ability to hire.

Nearly 66 percent reported that higher tax rates would lead to slower wage growth for U.S. workers.

88 percent agreed that maintaining globally competitive U.S. tax policies is important for business expansion.

In a statement Gregory Hayes, CEO of Raytheon and chairman of the group’s Tax and Fiscal Policy Committee, noted, “The tax system needs to support innovation, R&D, capital investment, and economic growth. As we look toward recovering from the COVID-19 pandemic, keeping competitive tax policies in place is needed to help reinvigorate the U.S. economy and lead to more opportunity for Americans.”

Hayes pointed out that before the pandemic hit – that is, when Donald Trump was in the White House – “the U.S. corporate tax rate drove economic growth, creating 6 million jobs, pushing the unemployment rate to a 50-year low and increasing middle-class wages.”

Hayes added that from 2018 to 2019, major U.S. companies expanded research and development by 25 percent, relative to the prior two years.

“The current U.S. corporate tax rate has also helped put U.S. businesses on a more level playing field with global competitors and encouraged businesses to invest and grow here in the United States,” Hayes said.

Business Roundtable President & CEO Joshua Bolten actually said the quiet part out loud at a time when it seems American Big Business wants to be seen as woke and with its collective lips firmly affixed to Biden’s posterior.

“The proposed tax increases on job creators would slow America’s recovery and hurt workers,” Bolten said.

“This survey tells us that increasing taxes on America’s largest employers would lead to a reduced ability to hire, slower wage growth for workers, and reduced investments in research and development — all key components needed for a robust economic recovery.”

“When U.S. companies can compete around the world,” Bolten added, “they can invest in America and help generate more jobs, pay higher wages, and support all of their stakeholders. While Business Roundtable believes infrastructure investment is a foundation for long-term economic growth, we urge policymakers to avoid tax policy changes that would run counter to the goal of increasing economic growth and job creation.”

Most of us, especially conservatives, would agree those are pretty powerful statements in defense of the economic policies of the last president – especially since Amazon founder and CEO Jeff Bezos sits on the Roundtable and has supported Biden’s hare-brained “infrastructure” plan.

Yet, as the Media Research Center noted, “ABC World News Tonight, CBS Evening News and NBC Nightly News ignored reporting the story over two consecutive nights of news coverage — April 12 and April 13. The networks also didn’t think Bezos’s membership in an association that rebuked the Biden tax agenda he’s supporting was worth mentioning.”

“The Big Three continued a brazen pattern of hiding one of the Big Lies emanating from Biden that ‘there’s no evidence that his tax hikes will be harmful to the U.S. economy. The 98 percent majority of CEOs surveyed by the BRT saying otherwise tells a different story.”

Yes, but it’s a story you won’t get from the biggest names in alleged “news.”

Other News: BLM Threatened Legal Action Against Local Black Activist Who Called For Investigation Into Its Finances

Advertisement

Login To Facebook From Your Browser To Leave A Comment

Leave a Reply

Your email address will not be published.