As Democrats plot a long list of tax increases, ATR president Grover Norquist explained why the proposed Democrat corporate income tax hike will kill jobs and growth and also force Americans to pay higher utility bills.
As a guest on Fox News Channel’s Fox & Friends, Norquist said:
“When you raise business taxes, corporate taxes, everybody’s utility bills go up. We know this because when Trump and the Republicans cut the corporate income tax and all 50 states’ utilities reduced their fees to people because one of the costs that a utility has when they provide electricity are their taxes, their federal taxes. When they went down, billions of dollars in lower utilities go to all Americans. So when you tax companies, you tax all Americans.”
When Republicans controlled the U.S. House for eight years, they not only cut taxes across the board, they passed strict rules preventing tax increases on the American people. Democrats are in the process of weakening or scrapping those rules. Democrats are considering a corporate tax rate hike, a personal income tax hike that would also hit small businesses, a massive national gun tax, a carbon tax, and even an increase in the Death Tax.