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Joe Biden Would Crush the Economy with Trillions in New Taxes, More Trillions in New Spending
PJ Media ^ | 09/15/2020 | Stephen Green

Posted on 09/15/2020 6:49:46 AM PDT by SeekAndFind

An unrepentant old-school liberal, Joe Biden would crush the economy with three trillion dollars worth of new taxes and five trillion dollars in new spending.

A new study released on Monday by the Penn Wharton Budget Model (PWBM) argues that this is a good thing.

According to The Hill:

“At the end of the day, they actually decrease debt because they do have significant revenue raisers,” Richard Prisinzano, director of policy analysis for PWBM, said in an interview with The Hill. “And the economy is more productive. As we put in things like education and infrastructure, workers become more productive, and that gives a boost to the economy.”

If the U.S Treasury had one dollar for every dollar we spent that was promised to increase productivity but was just, you know, spent, then the Treasury would be sitting on a $26 trillion surplus instead of a $26 trillion deficit.

Approximately, of course.

What Team Biden and the PWBM conveniently ignore is that our nation’s decades-long history of annual increases for per-federal spending on education per pupil has actually had zero impact on student test scores.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: debt; economy; joebiden; spending

1 posted on 09/15/2020 6:49:46 AM PDT by SeekAndFind
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To: SeekAndFind


A hypothetical Biden administration says it will devote more money to infrastructure (as President Donald Trump already has), but no doubt Biden’s spending would be in line with Green New Deal priorities he endorsed to win the hearts and minds of his party’s radical watermelon wing.

California has followed a similar path over the last two decades, neglecting necessary infrastructure spending on roads, power generation, and water projects. Instead, they’ve spent billions on “green” energy sources and the infamous high-speed train to nowhere.

As a result, California’s once-fertile interior enjoys near-permanent drought conditions, the state’s highways are among the nation’s worst, and millions of residents can’t get enough electricity to run the A/C on the hottest days when they need it most.

Biden would bring California’s mislaid priorities to the nation at large.

2 posted on 09/15/2020 6:51:33 AM PDT by SeekAndFind
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To: SeekAndFind

Yes, but we blew the spending argument by spending trillions.

3 posted on 09/15/2020 6:59:25 AM PDT by Williams (Stop Tolerating The Intolerant)
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To: SeekAndFind

Government will collapse if Biden is elected with the Senate.

4 posted on 09/15/2020 7:03:02 AM PDT by 1Old Pro (#openupstateny)
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To: SeekAndFind

The bottom line for Americans are these things:

1) Low unemployment
2) Price stability
3) High Labor Participation Rate
4) Widespread Real Wage growth

Talk about taxes and spending are increasingly falling on deaf ears. The Federal tax code is way too complicated for most people to understand, and government has been increasing spending for well over a century with no Armageddon. People may wince more at the idea of being taxed, but Americans of all stripes love hand-outs (whether they admit it or not).

5 posted on 09/15/2020 7:11:16 AM PDT by Bishop_Malachi (Liberal Socialism - A philosophy which advocates spreading a low standard of living equally.)
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To: 1Old Pro

Kamala will be the REAL President. Bernie Sanders and his acolyte AOC and the other members of the Squad will be calling the shots behind the scenes.

6 posted on 09/15/2020 7:12:05 AM PDT by SeekAndFind
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To: SeekAndFind
Kamala will be the REAL President

and she's one nasty human being, which is why she is kept hidden along with slo joe.

7 posted on 09/15/2020 7:16:49 AM PDT by 1Old Pro (#openupstateny)
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To: SeekAndFind

Joe isn’t going to do anything...even if he “wins”. He would be immediately pushed aside and Harris will do whatever her handlers tell her to do.

8 posted on 09/15/2020 7:18:36 AM PDT by AlaskaErik (In time of peace, prepare for war.)
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