The best way to revive an economy as you head into a recession is to slap businesses and workers with a massive tax hike. Said no legitimate economist ever.

Yet that’s apparently the best plan President Joe Biden and Democrats in Congress can come up with. Their new so-called “Inflation Reduction Act,” which would do almost nothing to reduce inflation, also includes a $315 billion tax on businesses. This comes in the form of a 15% “minimum corporate tax” applied to major U.S. corporations.