Biden Adviser Sperling: Reconciliation Bill Doesn’t Raise Tax Rates, It Just Requires Paying ‘Minima

[mystery-ak]

Biden Adviser Sperling: Reconciliation Bill Doesn’t Raise Tax Rates, It Just Requires Paying ‘Minimal Fair Share’ to Generate Revenue

Ian Hanchett 28 Jul 2022

On Thursday’s broadcast of CNN’s “The Lead,” Senior Adviser to President Joe Biden Gene Sperling claimed that the reconciliation deal announced by Senate Democrats “doesn’t really raise” tax rates, because it just says that large companies have to “pay some minimal fair share,” the funds from which will be used “to provide these benefits, these incentives for job growth here and production in the United States” and to reduce the deficit.

Sperling stated, “So, by simply making the most well-off corporations pay some minimal fair share, we’re able to use [those] funds to provide these benefits, these incentives for job growth here and production in the United States. At the same time, we’re paying for them and actually bringing down the deficit.”

Host Jake Tapper then said, “But Gene, the U.S. Chamber of Commerce released a statement saying, ‘This legislation includes taxes that would discourage investment and undermine economic growth, and price controls that would limit American innovation. Both will make our economic problems worse.'”

Sperling responded, “I have to say, all this bill does really is just — it doesn’t really raise rates, it just says, if you’re a large company and you’re claiming over $1 billion of profits to your shareholders, you should pay at least 15%. I don’t think most people would think that was unfair, when that’s what every other American has to do.”

more
https://www.breitbart.com/clips/2022/07/28/biden-adviser-sperling-reconciliation-bill-doesnt-raise-tax-rates-it-just-requires-paying-minimal-fair-share-to-generate-revenue/

[LMAO]

Oh for Christ’s sake can’t these people just go away?

Dementia, word salads, nonsensical statements

[DB]

So in short, it doesn't raise taxes it just causes people to pay more in taxes.

Increasing costs in a period of high inflation is insanity. The blind leading the blind.

[Kamaji]

If the minimum tax didn't raise additional revenues - raise the taxes on at least some corporations - then there would be no need for it, because it wouldn't raise any revenue.  By definition it will raise revenue, and thereby raise taxes on any corporation that is subject to it.