1
Who knew?
Evidently not Xi Jingping, as under his leadership, it looks like some 90% of Chinese factories will close due to lack of business.
Ha ha I live in a part of the country where hundreds of thousands of acres of was strip mined for coal leaving the ground worthless even after reclaiming. can't build on the soft ground for 40 years or your house will sink into the ground. Ruined wells for good. Longwall mining under homes -house drops 3 feet on one end-that is were they remove the coal pillars and the ground above drops down 3-5 feet.
Again, as long as other countries are subsidizing their industries if we do not our companies will be at a huge disadvantage.
The ag subsidies do not benefit only the wealthy. Ag subsidies keep food prices stable (not looking at inflation)
Without ag subsidies if one year there was a bumper crop of say corn, the next year farmers would not plant that crop because of the low price leading to a shortage the third year. One year Milk would be $5 the next year 25 cents. Food would be a roller coaster ride.
The Intel Plant in Columbus Ohio will be 10-14k jobs when done paying on average $135k per year. Almpost all subsidized under the chips act.
Perhaps you are thinking of the income tax rate? (That was higher than 44% supposedly, but nobody paid that rate...too many loopholes/deductions).
A Cap Gains rate of 44% would be a record high...see:
https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-capital-gains-rates
Plus Biden's handlers are thinking about an "Unrealized Capitol Gains" tax...your house worth more than you paid for it...you own the gubberment the Cap Gains tax. I am sure the progressives would exempt "non-rich" homeowners, but you get the idea.
What a relief. As long as it is Chile and Bolivia getting hit with the environmental impact, everything must be OK. But I digress. Let's assume for a moment that your way is economically superior. Then why can't you do it without subsidies? Why do you force working people to pay for things (at the point of a gun) that only benefit the wealthy?
It won't be a record high.Perhaps you are thinking of the income tax rate? (That was higher than 44% supposedly, but nobody paid that rate...too many loopholes/deductions).
Don't poke the bear, Bobby.
Fed just flipped. BofA warns of surprise rate hike.