President Joe Biden speaks at the Arcosa Wind Towers, Wednesday, Aug. 9, 2023, in Belen, N.M. Biden is making the case that his policies of financial and tax incentives have revived U.S. manufacturing. But I’ve always believed these policies are driven by a badly mistaken ideology, not malice.
This will lead to an outmigration of capital from the U.S. to our rivals as sure as river water flows downstream. Meanwhile, in Ireland, the 12.5% corporate tax rate has helped make that nation the fastest-growing land in all of Europe. Ireland even has a budget surplus. That’s right. The lower tax rates have created an usher of revenue.
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