Biden’s tax hike proposal would slow down economic recovery: Rep. Mace
Rep. Nancy Mace, R-S.C., says she ‘can’t think of a worse idea’ than raising taxes in the middle of a pandemic.
Rep. Nancy Mace, R-S.C., weighed in on President Biden’s reported tax hike proposal on FOX Business' “Mornings with Maria” arguing that she “can't think of a worse idea” amid the coronavirus pandemic.
BIDEN WANTS TO RAISE TAXES. HOW POLITICALLY DAMAGING WOULD IT BE?
REP. NANCY MACE: “I think most of America, whether you're Republican or Democrat, are going to be against tax hikes. And when you look at what the Biden administration is trying to do, I can't think of a worse idea in the middle of a pandemic than to raise taxes. And they're using key buzzwords, you know, to tax the rich and that companies should pay their fair share. But somebody has to pay that bill. And that's on the backs of hard-working Americans.
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Washington has a spending problem, not a revenue problem. We've seen states even in the middle of a pandemic getting record revenues. And when we talk about pulling people out of poverty, the last thing you want to do is raise taxes and keep spending. We're only going to slow down our ability to get out of and recover economically from COVID-19 with these spending plans, with tax hikes. It's going to hurt wages. You're going to see fewer companies starting fewer jobs at lower wages, and it's going to hurt every single person in this country.
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You look at the COVID-19 package we just did. Well, we just incentivized more unemployment with that package. And I know that there are employers in South Carolina who are desperate to find employees. And when you talk about raising the corporate tax to 21 to 28% – if you read the fine print, it's actually much higher than it was several years ago before President Trump eliminated much of the corporate tax rate. You're going to send jobs overseas. There will be an exodus from places like South Carolina and all over the country of jobs going overseas.”
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