Former Vice President Mike Pence has had a tough go. But he’s still working behind the curtains.
And Mike Pence just broke his silence to drop a bombshell report about Kamala Harris.
Advancing American Freedom (AAF), an organization established by former Vice President Mike Pence, issued a stark warning on Wednesday regarding the potential impact of Vice President Kamala Harris’ past tax proposals on American industry. In a memo obtained exclusively by the Daily Caller News Foundation, AAF contends that Harris’ tax plans, if implemented, would severely damage American businesses and bolster China’s economic position.
The memo points to Harris’ 2020 presidential campaign proposals, which included significant tax increases on businesses. AAF argues that such measures would drive American industries overseas, giving China a competitive edge. Instead, AAF advocates for the adoption of former President Donald Trump’s tax policies, which they believe would counter Chinese state subsidies and promote domestic job growth and higher wages.
“Vice President Kamala Harris’ tax plan is even more extreme than President Biden’s disastrous policies,” the memo states. “During her failed run for the White House in 2020, Kamala Harris repeatedly called for the complete repeal of the Tax Cuts and Jobs Act of 2017. Conservatives must not only reject Kamala Harris’ plan but go on offense to champion tax cuts that give Americans relief from the failed policies of the Biden-Harris administration.”
Harris’ 2020 tax plan proposed increasing corporate taxes from 21% to 35%, a substantial 67% hike from current rates. According to AAF, this would make the U.S. corporate tax rate the highest in the world, surpassing even the rates proposed by President Biden by 25%.
“Americans want to bring back industries to America,” the memo asserts. “But the Harris tax plan would handicap American industry by making our tax code uncompetitive, advantaging China, and pushing American businesses back overseas.”
AAF highlights that Harris’ tax policies would result in domestic corporate tax rates being 40% higher than those in China, thereby incentivizing American businesses to relocate overseas. The memo argues that to counter the Chinese Communist Party’s ambition for global dominance, the U.S. must lead in global supply chains, a goal unattainable under Harris’ tax plan.
“To stop the Chinese Communist Party’s quest for global dominance, America must become the world leader in global supply chains,” the memo reads. “America cannot lead the world if we follow Kamala Harris’ plan to punish American businesses and economically surrender to China.”
Furthermore, AAF claims that Harris’ tax proposals would harm not only American industries but also workers. The memo criticizes the idea of raising corporate tax rates, stating it would indiscriminately impact all American workers and businesses rather than targeting those engaged in unethical practices.
“Raising corporate tax rates will haphazardly hit all American workers and businesses, rather than targeting those that have engaged in wicked and woke cronyism,” the memo argues. “Rather than punishing U.S. workers, Congress should follow a three-step plan to end partisan corporate welfare.”
AAF’s proposed three-step plan includes repealing Biden-era policies that promote corporate diversity, equity, and inclusion (DEI), eliminating Green New Deal policies that subsidize preferred companies, and removing tax expenditures that benefit “woke” businesses.
“The American people deserve to know if Kamala Harris supports American workers or Chinese Communist Party-controlled companies,” the memo concludes.
The Devastating Impact of High Taxes On American Industries
While it’s fair to point out that American families don’t want to be paying anywhere near as much of their income as corporate companies do, the reality is that you can’t continue to raise corporate tax rates and expect there to be no impact on the overall economy.
It’s no secret that the periods of the best economies in America were off of the heels of major corporate tax cuts. Ronald Reagan’s 1981 and 1986 corporate tax cuts are big points of study for economists considering what led to the booming economy of the late 1980s and 1990s.
Donald Trump’s massive 2017 corporate tax cuts are similarly largely credited with much of the economic expansion that American industries have enjoyed after there was a ton of stalling during the Barack Obama years.
Kamala Harris is absolutely going to be looking at trying to raise those corporate tax rates again. Her Leftist base that absolutely hates any smell of capitalism will be looking at her very closely to do their bidding to sneak socialism into the country in any way possible.
Mike Pence isn’t right about everything, but he’s right about this. A Harris administration could be devastating for business in America.
The Conservative Column will keep you updated on any major Kamala Harris news.
