Frequently Searched

Academic Transparency

Civil Forfeiture

Critical Race Theory

Right to Try

School Choice

We Can't Tax-and-Spend Our Way to 'Recovery'

September 13, 2021
by Victor Riches

The U.S. House of Representatives recently passed a $3.5 trillion budget blueprint, laying the groundwork for huge tax increases to fund a massive federal expansion of government into issues traditionally handled by the states. This hefty price tag doesn’t even include the long-touted $1 trillion infrastructure bill, which is itself one of the largest non-emergency spending measures of the past 50 years.

This profligate tax-and-spend mentality conveniently omits one extremely important factor: The United States has barely started to recover from the wreckage inflicted by a pandemic that shows few signs of ending anytime soon. Yet increasing taxes is a key component of the left’s sweeping legislative agenda. Federal officials are proposing to raise the corporate tax rate from 21 percent to 28 percent, as well as doubling the Global Intangible Low-Taxed Income (GILTI) rate, which is a special category of taxation on overseas profits.

These changes would put America’s fragile economic recovery at risk, harm businesses across the board, and return the U.S. to the unenviable position of having the highest corporate tax rate of the world’s advanced economies. When accounting for state corporate income taxes, the U.S.’s true corporate tax rate would exceed 32 percent, making communist China’s 25 percent seem downright conservative by comparison. Given that countless businesses are still reeling from the economic impacts of the pandemic, it is imprudent to raise taxes on the very entities needed to power our recovery.

Read the rest of the op-ed at The Hill.

Victor Riches is the President and CEO of the Goldwater Institute.

 

 

 

More on this issue
Limited Government

Donate Now

Help all Americans live freer, happier lives. Join the Goldwater Institute as we defend and strengthen freedom in all 50 states.

Donate Now

Since 1988, the Goldwater Institute has been in the liberty business — defending and promoting freedom, and achieving more than 400 victories in all 50 states. Donate today to help support our mission.

We Protect Your Rights

Our attorneys defend individual rights and protect those who cannot protect themselves.

Need Help? Submit a case.
Join our pro-bono attorney network.

Get Connected to Goldwater

Sign up for the latest news, event updates, and more.

Wait! Don’t close this yet!

We are grateful for your support of the Goldwater Institute’s efforts to advance and defend liberty throughout the United States. For over 36 years, we’ve been defending the rights of Americans to live their lives free from government interference.

And Goldwater is unique in that we direct our efforts to the 50 states where we introduce and advance innovative ideas that expand freedom. And we fight in courtrooms and capitals nationwide to defend individual liberty.

In 2024 alone, we scored over 50 policy and litigation victories defending liberty!

And that’s just the beginning.

Our plans for 2025 include:

  • Stopping pernicious DEI and other woke programs in America’s universities.
  • Ensuring that patients suffering from rare and terminal diseases have access to cutting-edge, lifesaving medical treatments, without having to first seek permission from the government.
  • Defending parental rights across the United States so that parents can send their kids to the school that best fits their needs, free from leftist indoctrination.
  • Eliminating government interference in the fundamental right of individuals to own property and use it as they see fit.
  • And much, much more

We seek to restore the presumption of liberty; that people are free to act without first asking permission from the government.

But we cannot do this without you. Will you join us as we fight to preserve and advance liberty throughout the country? As we seek new and innovative ways to defend freedom in all 50 states?

And there’s great news: Thanks to a generous Goldwater supporter, your donation today will be doubled!

So please, join us in fighting to advance liberty and score real wins for freedom from coast to coast!

Donate Now