Janet Yellen says critics of Biden's tax hikes are asking the wrong question
CNN
Doctors follow the Hippocratic oath: do no harm. The architects of President Joe Biden's tax increases took a somewhat different approach.
They want some proposals, like the elimination of fossil fuel subsidies, to harm particular economic activities. They accept that higher corporate taxes will reduce the profitability of business investments, and may even preclude the most marginally profitable ones. What Biden's brain trust wanted to ensure is that the negative effects of tax hikes on business and the wealthy don't offset the economic benefits of what they finance: new spending on education and infrastructure and big tax benefits for less-affluent families. Backed by some independent analysts, they believe they've succeeded.More Related News