Biden is promoting a formal Oligarchy i.e. rule by a consortium of business owners and unions. The owners will be partnerships or sole proprietors of the hugest businesses because shareholders are to be excluded. The Unions and the Owners will also be partnered closely with the Government. It may improve conditions a tad for the workers who still have jobs in a constricted economy but it will put a ceiling on all others. People will know their place and stay in it. Social and economic mobility will cease.
Sounds like slavery redux II
I think you are on the right track on the leftists plans—but to really see their vision of the future think about robots and artificial intelligence.
All they will need is their “revolutionary vanguard” handling the plum jobs, while the masses beg the government for their checks (since robots and AIs have taken the vast majority of the blue collar and white collar jobs).
The elections will be rigged anyway, so it won’t matter whether the “great five year plans” of the Party succeed or fail...