Home Politics America Hang On, Mr. Biden’s $2-T+ ‘Jobs Plan’ Reduces Overall Employment

Hang On, Mr. Biden’s $2-T+ ‘Jobs Plan’ Reduces Overall Employment

FILE - In this May 5, 2021, file photo President Joe Biden takes questions from reporters as he speaks about the American Rescue Plan, in the State Dining Room of the White House in Washington. Biden is plunging into the next phase of his administration with the steady approval of a majority of Americans, buoyed in particular by the public's broad backing for his handling of the coronavirus pandemic. A new poll from The Associated Press-NORC Center for Public Affairs Research also shows an uptick in Americans' overall optimism about the state of the country. (AP Photo/Evan Vucci, File)

#employment #Biden #jobs $taxes

 “The Biden spending plan includes trillions in corporate tax hikes, taxes do not drive a growth economy or employment” — Paul Ebeling

Mr. Biden touts his proposed $2-T+ in “infrastructure” spending, which also includes all sorts of unrelated partisan waste, aka Pork, as 1st and foremost, a jobs-creation bill last.

It is name the “American Jobs Plan.” Mr. Biden himself calls it a “once-in-a-generation investment in America itself,” and has claimed that it would “create up to 16 million good-paying jobs.” 

But this new study finds that his multi-trillion-dollar spending plan would actually reduce overall employment.

Remember, the spending plan also includes trillions in corporate tax hikes to partially pay for it.

Corporate tax increases are widely known for their job-killing effect, as companies have less money available to invest in and otherwise expand their enterprises. 

So, the Tax Foundation weighed the benefits of Mr. Biden’s proposal against the economic consequences the business tax hikes would have.

As a result, the experts conclude that net, the Biden multi-trillion “investment” would ultimately lead to lower economic growth, lower wages, and 101,000 fewer American jobs over the long term.

Mr. Biden’s “American Jobs Plan” would “create jobs” by putting people to work on infrastructure projects. But, when we stop to analysis it and consider all the private-sector jobs that will never come into being due to the increased corporate taxes, there’s no reason to believe that Mr. Biden’s “once-in-a-generation investment” will have any positive returns period!

Have a healthy day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.