If you’re a CEO of a large American company, your primary interest is in maximizing profits and share prices. There are basically two ways to do that. One focuses on costs; keeping wages and taxes down obviously helps. If all businesses succeed in this, however, the result is inadequate demand and the dollar store economy. The alternative is to increase wages and deepen the welfare state in order to boost domestic demand. This is the crux of the Biden plan.
Business wants it all—low taxes and wages, but lots of workers and high demand. That can’t happen. As a result, the choice has been made. The dollar store economy, it is.