WASHINGTON – U.S. Senator Ron Johnson (R-Wis.) commented on President Biden’s $4 trillion tax hike and the Biden family’s business dealings on Fox Business’ ‘The Evening Edit’ yesterday.
Excerpts of the interview are below and video can be found here.
On tax increases:
“Increasing the corporate tax rate is not going to do anything for pulling us out of the covid recovery and [promoting] long-term economic prosperity and opportunity for Americans. If you take a look what we did in 2017, back then the corporate tax collected was a little under $300 billion. In 2019, before the covid recession hit, it was about $230 billion. So we lost about the $70 billion worth of revenue. I think we probably would have made that all up with a strong economy, but the Biden administration is talking about spending thousands of billions of dollars on all these boondoggles. So again, you have to keep the American business tax rate competitive with the world and that’s what we did in 2017.”
On Biden family business dealings:
“I'm concerned about the complex web of foreign entanglements, particularly within China, but really all over the world, so you simply can't trace it. When you're trying to hide income the way you do it is you set up corporation after corporation after corporation, you layer these things. For example, one of the corporations they used was called Hudson West, I think there are like eight or nine different Hudson West corporations. You don't know who owns them, you don't know where the money is flowing back and forth and that’s how you launder money by the way. You have all kinds of different transactions, which makes it very difficult for anybody to catch and really uncover what’s all going on.”
“We don't know what China knows about their financial dealings. We don't know what they could use as potential blackmail. Remember, the media and the Democrats claimed potential blackmail when they were pushing the Russia hoax against Trump. Here we've got verified financial entanglements and transactions that could lead to serious counterintelligence, extortion, and blackmail threats.”