Biden’s ‘Build Back Never’ Plan: UAE Shows US How to Add Jobs - Not Kill Them
Befuddled and Bad for Business
We’ve repeatedly addressed Joe Biden’s America Last plans. He gaslights us with what he names his proposals - but make no mistake: Everything Biden is doing is America Last.
We warned you before the election….
“What will Biden do differently than (Donald) Trump to “Build Back” – and is it ‘Better?’
“And the answer is: Of course what Biden wants to do is MUCH worse.
“Trump wants to rebuild America. Biden wants to rebuild DC.
“Trump built America – by undoing what Obama-Biden did to build DC.
“Obama-Biden added millions of pages of regulations. Trump has repealed millions of pages of regulations. Biden wants to add them back…and then some.
“Obama-Biden increased taxes. Trump cut taxes. Biden wants to increase them to Obama-Biden levels…and then some.
“Trump delivered less DC – which created more America.
“Biden wants to deliver more DC – which will destroy much of America.”
And nothing has changed since the election.
Biden wants to end our ability to compete globally with lower tax rates - to keep companies here and get others to come here.
And Biden wants to destroy all domestic incentives to keep companies here and get others to come here.
“(N)ow the Joe Biden Administration has its sights set on ending one of the last reasons to domestically create (Intellectual Property) IP….
“Biden is DOUBLING the (Global Intangible Low-Taxed Income) GILTI rate. And removing the floor for its imposition country-to-country. And increasing tenfold the tax’s imposition. From 10% of investment — to 100%.
“The (Foreign Derived Intangible Income) FDII tax incentive exists to keep IP creation in the US. And the FDII tax incentive exists to offset the disincentives of the GILTI tax.
“Biden is going to MASSIVELY increase the GILTI tax. AND completely eradicate the off-setting FDII tax incentive.”
We’ve long warned that our domestic idiocies will drive job creators out of the country. With particular concern for Intellectual Property (IP) creators - because in the computer age, IP is even more important than ever. As more and more things transition from physical to digital - IP gets more and more important.
We have been particularly concerned about Communist China being the beneficiary of our idiocies. Because…it’s Communist China.
China is most definitely the most dangerous beneficiary of our idiocies. But they are by no means the only beneficiaries.
“The growing international confidence in the (United Arab Emirates) IP protection framework will have a positive impact in raising the influx of talent and specialized competencies.
“In addition, it will strengthen the country’s reputation as a preferred destination for investment, employment or tourism purposes.
“Besides, it will enhance the UAE’s contribution to global intellectual and literary landscape, thereby positioning it as an incubator for innovators and creators and a strategic hub for projects based on technological and engineering innovation and creativity in authorship and design.”
The UAE achieved this massive economic expansion - IN THE VIRUS GLOBAL LOCKDOWN YEAR.
Wouldn’t it be great if ANYONE in the Biden Administration was speaking as positively and constructively about America with regard to IP and general job creation - as the UAE’s Ministry of Economy is about their country?
Wouldn’t it be great if Biden’s economic plans weren’t named in pro-America fashion - while imposing anti-America policies?
And after doing everything of which he can think to ensure nothing at all is Made In America? After ensuring the expansion of the Rust Belt from coast to coast and border to border?
The last maker of anything American has already left the building, Mister President.
This first appeared in Red State.