… It is understandable why many leaders in the business community and “legacy” Republican Party—the one that supported internationalism and free trade, not populism and protectionism—are growing concerned with today’s GOP. Not only has the party largely abandoned the libertarian principles that once helped those companies’ bottom lines, but it now seems much more concerned with transgender athletes competing in sports than the economic vitality of their states. …
The focus on the Biden agenda so far has been on spending, both on the coronavirus relief package and now the extra-large-sized infrastructure package. The next big battlefield will likely be on the taxes needed to pay for it all. Business can count on an aggressive package of tax increases on business and high-income households that will likely dwarf their discomfort with the GOP’s culture wars du jour. CONTINUED
Charlie Cook
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