Expert Warns Biden’s Plan Would Destroy 159,000 Jobs

Expert Warns Biden's Plan Would Destroy 159,000 Jobs

( – President Joe Biden signed a $1.9-trillion stimulus package into law on March 11. Republicans voted against the bill because they believed it was too large and the country couldn’t afford it. It seems they were right.

According to reports, Biden is preparing a package that will raise taxes. The president wants to increase the corporate tax rate from 21% to 28% and on people making over $400,000. His legislation will allegedly include an expansion of the estate tax and a higher capital gains rate for people who are making $1 million or more.

The Tax Foundation analyzed his alleged provisions and found it would shrink the economy.

The country is currently going through an economic downturn. Millions of people have lost their jobs during the pandemic and more than 100,000 businesses permanently shut down. Biden wants to raise taxes on the job creators, which will almost certainly make the situation worse — costing at least 159,000 jobs according to experts.

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