Tag: Chips

Stop Making Things!

 

That seems to me the message…or at least one message…of the tax/energy/economics plan introduced by Biden and supported by Joe Manchin. From the WSJ:

Evidence is emerging that the new Schumer-Manchin 15% minimum tax on corporate-book income is especially harmful to U.S. manufacturing firms. An analysis by Congress’s Joint Committee on Taxation (JCT), which is hardly a nest of supply-siders, found that 49.7% of the tax would hit U.S. manufacturers.