ATR President Grover Norquist joined Jacqueline Alemany on Washington Post Live to discuss President Biden’s proposed tax increases and his more than $4 trillion infrastructure plan.
During this conversation, Norquist posed an important question: why would you raise taxes during a pandemic?
“Well, you have to ask yourself, we’re coming out of a pandemic; we’re coming out at a time when many states closed much of their economies. We’re beginning to come out of this and why would Biden think now is a good time to raise the American corporate income tax to the highest in the world, higher than communist China; higher than anything in Europe; and the most low-growth path by having such a high corporate income tax?
Why would you double the capital gains tax? Why would you set a second level of the death tax? Why would you add energy taxes? The United States is very competitive in its cost of energy, and he wants to subsidize uncompetitive, expensive energy and tax energy that’s less expensive; and undo infrastructure, to tear down exactly the infrastructure that gets natural gas to people’s jobs and stopping the pipelines in the Midwest?
So, why a list of things all of which we know slow economic growth and put us in a bad path in terms of jobs or GDP or competitiveness in the world?”