“Joe Biden would Stop and Reverse, setting the Republic back at least 12 yrs” — Paul Ebeling
Joe Biden is promising to take the country on a very different path from what it has seen over the past 4 yrs under President Trump, on issues ranging from the coronavirus and healthcare to the environment, education, energy, and much, much more.
The Democratic presidential candidate has promised to reverse President Trump policy on such Key issues as withdrawing the US from the Paris climate agreement and the Iran Nuclear Agreement.
Joe Biden and his campaign argue that the economy cannot fully recover until COVID-19 is contained, although the economy is recovering at an amazing pace in a V-shape after the medical emergency chaos caused an immediate recession in February-March,
For the long-term recovery, they are pitching sweeping federal action to avoid a recession that has ended and to address long-standing wealth inequality that disproportionately affects black Americans.
He would cover the cost of some of his big ticket environmental and health insurance proposals by rolling back much of the 2017 GOP tax overhaul.
He wants a corporate income tax rate of 28%, and broad income and payroll tax increases for individuals with more than $400,000 of annual taxable income. All that they say would generate an estimated $4-T over 10 years while not speaking of what it will do to consumer confidence, small business owners, spending, savings and overall economic liquidity which are all Key to a growth economy and healthy markets.
Joe Biden frames immigration as an economic issue.
He wants to expand legal immigration slots and offer a citizenship path for about 11-M people who are in the country illegally but who, Mr. Biden says are economic contributors as workers and consumers. They may be but the majority of those illegals work ‘underground and off the books” sending their untaxed earnings back to their mezo-American and Asia-Pacific countries. We do not believe that these illegals will rush to citizenship.
An analysis from the Committee for a Responsible Federal Budget estimates that Biden’s campaign proposals would increase the national debt by about $5.6-T over 10 years. The national debt now stands at $20-T+.
Candidate Biden draws some of his sharpest contrasts with President Trump on the ‘pandemic’, arguing that the presidency and federal government exist for such crises. Unlike President Trump, he does not believe the leading role in the virus response should belong to state governors, with the federal government in support.
Mr. Biden endorses generous federal spending to help businesses and individuals, along with state and local governments, deal with the financial cliffs of the pandemic slowdown.
He has promised aggressive use of the Defense Production Act, the wartime law a President can use to direct manufacture of critical supplies. President Trump has used that law on such things as ventilator production.
Mr. Biden promises to elevate the government’s scientists and physicians to communicate a consistent message to the public, and he would have the United States rejoin the World Health Organization (WHO) the UN sector that provided the impetus to destroy the world’s economies in favor of China’s overtaking the US as the world’s number 1 economy.
He has to use his power before taking office to convene meetings with every governor and ask them to impose what would be a nationwide mask mandate because the federal government does not have that power, even though the empirical evidence is that masks, social distancing and lockdowns do not prevent the spread of the virus. Restrictions that a actually unenforceable political statements.
The healthcare law known as “Barack Obamacare” was a disastrous hallmark of the Hussein Obama Administration that has virtually been dismantled by President Trump. But Mr. Biden wants to enliven it and build on it to provide coverage for all by creating a “Medicare-like public option” to compete alongside private insurance markets for working-age Americans, while increasing premium subsidies that many people already use. With the notion that middle-class households would have access to subsidized health insurance, which has been proven that they do not want.
His plan would cost about $750-B over 10 yrs. That positions him Vs President Trump, who wants to scrap the 2010 health law, and progressives who want a government-run system to replace private insurance altogether, thus eliminating a huge well established capital generating industry.
Mr. Biden Vs President Trump
Mr. Biden supports keeping the wars going with a strategy of fighting extremist militants abroad with US troops.
He is a strong supporter of NATO. He warns that Russia is chipping away at the foundation of Western democracy by trying to weaken NATO, divide the EU and undermine the US electoral system alleging that Russia is using Western financial institutions to launder billions of dollars to use to influence politicians.
Mr. Biden calls for increasing the Navy’s presence in the Asia-Pacific and strengthening alliances with Japan, SKorea, Australia and Indonesia.
President Trump has brought the US military back to strength and used that strength to leverage peace and tranquility throughout the world.
Mr. Biden says President Trump’s decisions to exit bilateral and international treaties such as the Iran nuclear deal and the Paris climate accord have led some nations in search of globalization to ‘dislike’ the idea of America First.
Mr. Biden, who claims support for Israel, wants to curb annexation and has backed a 2-state solution in the long conflict between Israel and Palestine.
Candidate Biden criticizes President Trump’s diplomacy with Kim Jong Un, saying President Trump’s 1-on-1 diplomacy gave legitimacy to the NKorea leader.
Mr. Biden is proposing a $2-T push to slow global warming by turning down the burning of fossil fuels (the world’s most efficient sources of energy), aiming to make the nation’s power plants, vehicles, mass transport systems and buildings more fuel efficient and less dependent on Crude Oil, Nat Gas and Coal now that President Trump’s policies have made the US the world largest producer of Crude Oil and a next exporter of Black Gold.
Joe Biden says he will ban new permits for Crude Oil and Nat Gas production on federal lands, he says he does not support a ban on fracking technology.
Mr. Biden’s public health and environment platform calls for reversing The Trump Administration’s lessening enforcement against polluters which has fallen to the lowest point in decades. He want a climate and environmental justice division within the Justice Department which I believe is totally unnecessary with our heavy industry’s record of policing itself in that regard. We do not need more government.
He has pledged to restore Hussein Obama-era policies that were rolled back by The Trump Administration, including rules on campus sexual misconduct and a policy that aimed to cut federal money to for-profit colleges that left students with heavy debt and unable to find jobs to pay it back.
Joe Biden supports abortion rights and has said he will nominate federal judges who would uphold Roe v. Wade, that he will rescind President Trump’s family planning rule, which has prompted many clinics to leave the federal Title X program that provides birth control and basic medical care for low-income women, and he now supports repeal of the Hyde Amendment, opening the way for federal programs such as Medicaid to pay for abortions. Which we see as overall wrong.
Mr. Biden would raise Social Security taxes by applying the payroll tax to earnings above $400,000 a year. The 12.4% tax, equally distributed among employees and employers, currently only applies to the 1st $137,700 of a person’s earnings. The tax increase would pay for his proposed benefit expansions and also extend the life of the program’s trust fund by 5 yrs, to Y 2040, according to the nonpartisan Urban Institute.
Joe Biden wants Americans’ gun ownership, he supports legislation restricting the number of firearms an individual may purchase per month to 1 and would require background checks for all guns sales with limited exceptions, such as gifts between family members. He would eliminate all online sales of guns, ammo and gun parts.
He pledges tough negotiations with China on trade and intellectual property matters. How it is unclear, thought it is thought in high places that he a a Chinese puppet. We do know that President Trump is a tough negotiator and has been successful in his trade negotiations and his America First policy.
Lastly, I believe should candidate Biden be allowed to steal the election and enter our White House, we will see a catastrophic market set back quickly by at least 40% accompanied by high interest rates and high inflation wherein American households will once again become poor as they were during the majority of the Hussein Obama era.
In a Biden presidency scenario the rich get richer and the poor get poorer!
Our colleague, economist Bruce WD Barren thoughts on President Trump’s speech in Georgia Saturday night: “Here is what I discerned from the President’s Georgia speech today as a businessman. It appears that Biden’s primary agenda is to restore much of the negative legislation of the Obama Administration. I also see that Biden wants to take away a number of positive Trump’s business initiatives. In my opinion, these would be extremely detrimental to American worker, along with including approving some 11 million illegal aliens for citizenship and opening up our borders. To me, this would hurt especially the lower income sector of our employment by replacing existing jobs while not adding to our overall employment, a Key initiative of The Trump Administration.
“Here are several other primary destructive Biden agenda initiatives, which I believe are in reaction to his IOU Agenda for support from Obama and the far left, which come out of his detailed Election Agenda. Here, he wants to lower our import tariffs which would only take away American jobs by having American consumer products replaced by lower priced tariffed foreign products. Again this would be destructive to the American worker.
“Add to this, a foreign appeasement policy and his desire to increase the value of the US Dollar would only have a negative effect on the American worker. The would also hurt our energy export status where we have finally eliminated on our dependence of foreign oil.
“Biden’s reduction in military expenditures in order to afford his social welfare agenda would also hurt our Defense posture in the World, leading to a more aggressive policy by Iran and other countries around the World. It would also have the negative effect on an American worker.
“Further, what Mr. Biden does not understand is that his idea of raising corporate taxes would only hurt the American consumer for more taxes means higher consumer prices, fueling disproportionate inflation.
‘In addition, taxing disproportionately the rich which always sounds good to the good electorate and changing the capital gains taxes would dramatically affect the US savings rate for the rich who typically are the saver of money, causing monetary liquidity for small businesses which is the backbone of our industrial society and their ability to borrow money.
“Perhaps, Mr. Biden should rethink his business directed initiatives, stop his ill thought out attacks and start to understand like us businessmen what the more positive accomplishments of the last 4 years, Herculean in my opinion and a mandatory element for our economic recovery. Otherwise, get prepared for a major recession following the 1st year of a new President’s honeymoon with the American electorate.
Mr. Biden who thinks that he is the president-elect must understand one message from me, an American businessman: Americans want to go back to work for their self-esteem, pride and sanity, this objective cannot, must not be obstructed to the detriment to the American workers and their families,”
Have a healthy weekend, Keep the Faith!