Economy
Economy
Posted on Oct 20, 2020
New Stanford Study Suggests Biden's Agenda Will Have 4 Devastating Economic Consequences | Brad...
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https://fee.org/articles/new-stanford-study-suggests-bidens-agenda-will-have-4-devastating-economic-consequences/?utm_source=email&utm_medium=email&utm_campaign=2020_FEEDaily
Sympathetic media outlets have repeatedly asserted that Democratic presidential nominee Joe Biden’s tax agenda would only hurt the wealthy. But a new study shows that Biden’s tax and regulatory agenda could seriously hurt the economy overall.
Four economists from Stanford University’s Hoover Institution analyzed Biden’s proposals to increase taxes, reinstate and expand a host of regulations, and create new subsidies for healthcare and renewable energy. The study concludes that these interventions would distort labor incentives, decrease productivity, and kill jobs.
Sympathetic media outlets have repeatedly asserted that Democratic presidential nominee Joe Biden’s tax agenda would only hurt the wealthy. But a new study shows that Biden’s tax and regulatory agenda could seriously hurt the economy overall.
Four economists from Stanford University’s Hoover Institution analyzed Biden’s proposals to increase taxes, reinstate and expand a host of regulations, and create new subsidies for healthcare and renewable energy. The study concludes that these interventions would distort labor incentives, decrease productivity, and kill jobs.
Economy
Joe Biden
Taxes
Jobs
Employment
Edited >1 y ago
Posted >1 y ago
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Cpl (Join to see)
Hunter Biden's legal work in Romania raises new questions about his overseas dealings
Hunter Biden provided legal advice to a Romanian charged with real estate fraud, at a time when his father was pushing corruption reforms in the country.
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Cpl (Join to see)
Exclusive — Cooney Moved from Cell after Giving Emails Exposing Bidens
Bevan Cooney, the former business associate of Joe Biden’s son Hunter Biden who flipped on the Biden family, has been moved from his cell.
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SPC Kevin Ford
Cpl (Join to see) - Yeah, but after the past four years we know you don't care about any of that stuff.
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Many people don't have a clue about where wealthy people park their money. It is not locked away in a vault someplace. It's invested in the economy -- creating jobs. Take away those assets through taxes, you eliminate those jobs. That isn't rocket science, it is basic capitalism. Biden's plans would take away jobs.
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SGT Robert Pryor
Lt Col John (Jack) Christensen - Where do you believe the wealthy park their money? I'm far from wealthy, but I have my money out creating jobs. By the way, I couldn't stand Ronald Reagan.
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Lt Col John (Jack) Christensen
SGT Robert Pryor They invest, but not necessarily in job creating sources. Their focus is profit generating and that doesn't necessarily equate to job creating.
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SPC Kevin Ford
SGT Robert Pryor That's not why or how wealthy people create jobs. They don't do it due to an excess of capital, they create jobs when they see opportunity. If they don't see opportunity they invest excess capital somewhere which may or may not be creating jobs.
The real question becomes if wealthy people are taxed more will they have the capital needed to seize opportunity and create jobs? The answer is almost certainly. People who are wealthy have assets, the type of assets that can quickly be turned into leverage. When looking at the WACC, personal cash on hand is absolutely one of the worst ways to fund a business if your goal is fast job creation.
The real question becomes if wealthy people are taxed more will they have the capital needed to seize opportunity and create jobs? The answer is almost certainly. People who are wealthy have assets, the type of assets that can quickly be turned into leverage. When looking at the WACC, personal cash on hand is absolutely one of the worst ways to fund a business if your goal is fast job creation.
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The kill jobs refers to old jobs, not those created by emphasis on renwable energy. Those who can't grasp the concept of needing to retrain to new technologies deserve to be left behind.
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