Posted on 05/14/2024 9:14:42 PM PDT by SeekAndFind
Could a second Biden term be more injurious to the economy than his first term? It seems unimaginable given the first three years gave us 20% inflation, a $2,000 loss in average real incomes for the middle class, 6 million added illegal immigrants, a war on American energy that has caused gas prices to rise by more than 40% to $3.64 a gallon, the collapse of our many major cities, another $6 trillion added to the national debt, the unaffordability of new homes, and the chaos on college campuses.
So what's the encore to that abysmal performance? What will Bidenomics 2.0 look like if it comes to that?
Remember, the Republicans have narrowly controlled the House since the midterm elections of 2022, which has put a modest break on President Joe Biden's more dangerous ambitions, but a Biden blue wave could mean Democrats run the table and have the House and the Senate under their control.
If Biden wins, he will argue that voters have given him a mandate -- to move forward with radical redistribution policies.
Here's a cheat sheet on the top five Bidenomics 2.0 policy priorities:
1. Tax rates on investment up to 70%.
Biden didn't get most of his tax increases through Congress. I calculate that the tax on a million-dollar investment that earns a million dollars would be as high as 70%, wiping out two-thirds of the gain. Business investment would crash, and trillions of dollars of capital would flow like a tidal wave to lower-tax nations.
2. $2 trillion in new debt spending.
Liberals have been complaining that even though Biden passed $6 trillion of new spending -- adjusted for inflation, somewhat less than we spent to fight and win World War II -- there was almost $2 trillion on its wish list that got left on the cutting room floor for green energy, welfare benefits, student loan bailouts and the like. Now they would have the votes to pass it. This means more income redistribution programs, more green energy spending, more corporate welfare giveaway schemes and a decade ahead with another $10 trillion additional debt spending.
3. A "net zero" energy policy eliminating production of nearly all our abundant fossil fuels. America still gets between 70% and 80% of our energy from old-fashioned oil, gas, coal and diesel.
Biden says he's fully committed to net zero fossil fuels and getting nearly all our energy from the electric grid system. Not only is that a technological pipe dream requiring a doubling of the electric grid system that is already experiencing brown outs in states like California, but it would make our entire $13 trillion economy dependent on one source. The cost of heating your home would likely double or triple.
4. An end to state "right-to-work" laws in 26 states.
Biden and the union bosses tried mightily to push the "PRO Act" over the goal line, but they fell a few votes short. That bill would replace "right-to-work" laws in the mostly red states with a universal "closed shop" forced union policy. This would mean that businesses, shops and factories that have fled to red states like Florida and Texas would move operations overseas.
5. The antitrust assault against Silicon Valley and corporate mergers ramps up.
We've seen the craziness of Federal Trade Commission chair Lina Khan, who wants to effectively eliminate all mergers and acquisitions even in industries such as social media, search engines, software, video streaming, cellphones, credit cards, artificial intelligence and online retail transactions. This will raise prices for consumers, dramatically slow innovation and cripple the ability of startup businesses to raise capital, thus putting America's trillions of dollars of global tech dominance in grave danger. Remember, these globally dominant companies in the "Magnificent Seven" stocks have added almost half the gains in the stock market over the past nine months.
There is more to worry about under Bidenomics in a second term. One worry is that Dems will agree to eliminate checks and balances in our system of government by overturning the filibuster rule of at least 60 votes in the Senate to pass legislation. Another concern is that Dems will lock in their electoral strength by making Washington, D.C., and Puerto Rico states to add four more Democratic senators. Remember Kyrsten Sinema of Arizona and Joe Manchin of Pennsylvania heroically voted to save the filibuster -- but they won't be around in January 2025 to stop the court packing.
Could American businesses and families survive getting smashed by these gale-force winds of another Bidenomics hurricane in 2025 without capsizing the ship of state? I wouldn't bet on it.
Ping
Or the state level government and governors would just go tell the feds where to get off and ignore the policy or pass legislation opposing or negating it.
As usual, Moore fixates on some business obsessions.
The one, the only thing that the utterly anti-White “Biden” gang will do is flood the country with tens of millions of non-Whites.
It will become a dystopian hellscape of Third World Orks. All the wonkism about tax rates and merger policies will become meaningless.
#4 was and still is in the forefront off the re-opening economy.
The right to work states opened first, saw their unemployment rates drop first and even to this day have the lower unemployment rates.
This is the most anti business admin in US history. Similar to 2016, Pres Trump is free rolling on the economy as anything is better than these people.
Providing Plugs Biden survives right?
bttt
That doesn't matter. It's not like Jojo the Pedo Clown is cooking up innovative policy ideas in between diaper changes. Those five items are directly from the lefty wish list as is everything else being done by the Biden regime. Look at the hardcore RAT states like California and New York and you see them already doing most of them.
If you have to ask the question if it will be worse then you ain’t been paying attention.
I would really love to see Texas say screw it and secede from the United States. Biden has already set precedent by leaving American weapons in place for the Taliban when we fled Afghanistan with our tail between our legs. Texas can keep any weapons, strictly for self-defense purposes. Texas military service in other states and countries can come home.
Texas produces enough product for export and with a bit of tweaking to water systems, can support agricultural growth for export as well as domestic use. We can set our own tax rates which favors everyone. Industrial growth would sky rocket and since Biden’s US is trying to shut down the energy industry, it can be decoupled from the national grid and if the remaining states want to purchase Texas energy they can. If not, plenty for domestic use as well as export.
With all that in mind, what are other pro’s and con’s of Texas seceding from the Union?
The US would lose 9.8% of US population. It’s been discussed around that if just 4% would not participate in the economy, it would deviate the policy
There are no cons.
Ping to ALL my lists!....................
And THIS time around he’ll probably back the truck right up to Fort Knox!!!
Sloe Joe is NOT the power — he is an actor, reading his lines provided by the Evil Inside the Beltway Swamp Critters, aka Soros, Ophonybama, Zuckerberg, Rice, Nanzi, Chuckie, etc., etc.!
We know it and they know it, but Sloe Joe doesn’t care - just so long as he and his buddies keep getting richer.
These kinds of laws would also cause people to flee the US for an overseas location. Me, I got my eye on the Philippines. My retirement income will not sustain me for long here and if it will go further in a place like the Philippines, then I just might have to migrate there.
Question: When you retire in the Philippines,how are your medical expenses going to be covered? Will Medicare cover it?
biden is too NUMB to understand any of these proposals! And he’s getting number by the day.
If the Dims cheat to win, it’s the shadow presidents who will propose these measures to Congress!
That is a very good question. I don’t know, and it’s something I need to ask my friend over there about.
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