“You can say, ‘we’re going to organize all of the McDonald’s or all the fast-food outlets in metro Portland.’ That’s something that you need a joint-employer legal recognition to be able to do. Then you can organize all those people at one time without having to go through a million different little local elections,”
Biden could shift labor momentum to unions, low-wage workers- Marketplace
Elections have consequences. Congratulations Biden voters. May your labor costs skyrocket for your ignorance.
Well Chris K and the ultra liberal MCD suits- enjoy your new joint employer status.
December 16, 2020
Looking to the future: Biden’s proposed tax plan
Between a more urgent need for Covid relief, economic stimulus and a narrowly divided Congress, Joe Biden’s proposed tax plan may not get much traction in the early days of his administration. It is important, however, to take a look at the president-elect’s priorities that may inform more targeted legislative actions.
Below is a snapshot of Biden’s proposed tax plan, as compiled by the nonprofit Tax Foundation:
Raise payroll taxes on income earned above $400,000.
Increase the tax rate on income above $400,000 to 39.6%.
Eliminate step-up in basis for capital gains taxation.
Tax long-term capital gains and qualified dividends at 39.6% on income above $1 million.
Restore estate and gift tax rate and exemption to 2009 levels ($3.5 million exemption with top estate tax rate of 45%).
Cap tax benefit of itemized deductions to 28% of value for those earning more than $400,000.
Restore Pease Limitation on itemized deductions for taxable income above $400,000.
Phase out qualified business income deduction for those earning more than $400,000.
Expand Earned Income Tax Credit for childless workers 65 and older.
Expand Child and Dependent Care Tax Credit to $8,000 in qualified expenses. Increase the maximum reimbursement rate to 50%.
Increase the Child Tax Credit to $3,000 for children 17 or younger and provide a $600 bonus credit for children under 6. The Child Tax Credit would be fully refundable.
Reestablish First-Time Homebuyers’ Tax Credit, providing up to $15,000 for first-time homebuyers.
Establish a Manufacturing Communities Tax Credit to reduce tax liability of businesses that experience workforce layoffs.
Expand and make permanent the New Markets Tax Credit.
Offer tax credits to small businesses for adopting workplace retirement savings plans.
Increase corporate income tax to 28%.
Create minimum tax on corporations with book profits of $100 million or higher. Corporations pay the greater of their regular corporate income tax or the 15% minimum tax while still allowing for net operating loss.
The only good thing about this confiscatory Democrat tax plan is that joint employer will make us employees. Employees have rights and remedies franchisees do not.
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