Hey, Disney, Apple, ExxonMobil: Joe Biden's Comin' To Tax You Anyway!
In remarks on the August jobs report, which fell well short of predictions largely due to the Delta coronavirus surge, President Joe Biden said Fridat that the economic recovery from the coronavirus recession won't really take off until we also end the goddamn pandemic. He also took aim at big corporations that have launched a lobbying effort to blunt the tax increases proposed for Biden's Build Back Better reconciliation plan, saying that he's not at all going to let the fat cats win, and in fact, he's looking forward to "taking them on."
Reversing many of the 2017 tax cuts for corporations and the wealthy, and doing away with tax advantages that only benefit the very richest Americans, are a key component of Biden's agenda, and he made clear Friday he's not playing. Here, watch!
Biden noted that with the Labor Day weekend starting, it's a good time to remember the central goal of his economic agenda: building an economy that works for ordinary Americans, instead of constantly shoveling ever more of the benefits to Wall Street and corporate interests.
It's about growing our economy from the bottom up and the middle out, providing some extra breathing room for families — and my dad would just say, "Just a little breathing room" — creating an environment where employers have truly com- — have to compete — compete for workers by providing higher wages and better benefits.
That's what's happening. Wages are up, especially for working-class Americans.
Biden vowed to continue doing everything possible to increase vaccination rates and to contain the spread of the virus, and turned to making the case for his economic package, noting that the economy is doing well enough that what's needed now isn't short-term stimulus, but rather making investments in the future that will help families and workers, like creating jobs, providing support that allows parents to work, and making infrastructure resilient in the face of climate change.
How are we going to do that? We're going to do it by leveling the playing field; by just having a fair system where we ask the largest corporations and the wealthiest Americans to begin to pay their fair share, not more.
They can still make millions of dollars. The super wealthy are still going to be able to have three homes. It's not going to affect anything.
The fact of the matter is, though, it's about time they begin to pay their fair share.
The Washington Post reported this week that corporate America, including giants like Apple, Disney, ExxonMobil, and Pfizer, has launched a lobbying blitz to kill off large parts of the Build Back Better economic package. Well no thank you, said Joe, we won't play along with lobbying efforts aimed at trying "to escape their obligation to pay the taxes they owe, leaving working families to pay a larger share of the burden."
And this has worked in the past, with significant lobbying efforts, but I don't think it's going to work with me.
For those big corporations that don't want things to change, my message is this: It's time for working families — the folks who built this country — to have their taxes cut.
And those corporate interests doing everything they can to find allies in Congress to keep that from happening, let me be — as the old expression goes — perfectly clear: I'm going to take them on.
We like this Fightin' Joe Biden quite a lot. Is he talking about wealth redistribution? Biden was smart enough to avoid the term, but his entire point is that for decades, the tax laws have been all about distributing wealth unfairly to the people who can afford lobbyists to rig the game.
It's time instead to make the economy work for the people who do the real work instead, and the result, he said, is that once the rich and the corporations are paying their fair share, it's going to create jobs and expand the middle class. And for golly sake, that ought to be welcome news to the One Percent, too:
Look, just think about it: Throughout our history, when the middle class has done well, when it prospers, has there ever been a time the wealthy and corporate America doesn't do well? I can't think of one.
And that's what Labor Day is all about, Charlie Brown.
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