in Biden, Economy, Politics, Presidential Campaign

Stanford Study: Biden’s Agenda Will Destroy 5 Million U.S. Jobs

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According to a new study from Stanford University’s Hoover Institute, Joe Biden’s agenda will have a number of catastrophic economic consequences for Americans trying desperately to get back on their feet after the COVID recession. The economists behind the study say that Biden’s policies – which include raising taxes and expanding regulations – will ruin labor incentives, lead to decreased productivity throughout the country, and take millions of jobs completely out of the economy.

In an analysis of the study, the Wall Street Journal wrote: “The risk from Joe Biden’s policies isn’t that they will send the economy reeling right away. The problem is that they will have a long-term corrosive impact by raising the cost of capital, reducing the incentive to work and invest, and reducing productivity across the economy. Americans will pay the price in a lower standard of living than they otherwise would—and that they deserve.”

The Hoover Institute study found that Biden’s agenda will lead to 4.9 million fewer jobs by 2030 alongside an overall shrinking of the economy by $2.6 trillion. Bringing this down to the micro-level, it means that the average family will see a loss of $2,600 in annual income as a direct result of Biden’s policies.

In their executive summary, the economists outlined their three major conclusions:

First, transportation and electricity will require a lot more inputs (including 1.3 million net additional energy workers) to produce the same outputs because of Biden’s ambitious plans to further cut the nation’s carbon emissions. Because these industries are a nontrivial share of the overall economy, that means 1 or 2 percent less total factor productivity overall. These effects would be significantly larger —likely dwarfing the (nontrivial) rest of the agenda—if the energy goals are taken literally. The costs would also be concentrated geographically.

Second, labor wedges (the amount of the value created by additional work that goes to third parties) are increased by proposed changes to regulation as well as to the Affordable Care Act (ACA). The quantitative findings for the ACA should be no surprise given the findings from previous efforts in the United States and other countries to expand health insurance coverage.

Third, Biden’s agenda reduces capital intensity by increasing average marginal tax rates on capital.

This just isn’t what the country needs at a time of uncertain economic troubles. Trump has proven that his policies have the power to bring our economy roaring back from the coronavirus, just as he proved how restrictive Obama’s policies were in helping us recover from the Great Recession. To put Biden and his Obama-like policies in command of the economy is to doom the country to four/eight years of financial malaise.

We can’t afford it.

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Written by Andrew

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  4. it’s to bad that the younger generation belive in him and harris because they are the ones who are going to pay for it.they will be involve in a socialist country whic is actualy communism.i am afraid for my great grandchildren’s future.

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    • Priscilla, there may be some students following sniffy Joe but leave the Campus for the real world, color it black, brown, yellow or green these youths like working, jobs, fun and play…. they love what POTUS TRUMP has for America

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  6. Biden’s agenda would ALSO affect retirees living on Pensions and SOCIAL SECURITY, as the Government would DEFAULT on it, due to DECREASED tax revenue, and decreased profit coming in to cover PENSIONS. This also covers GOVERNMENT pensions. DO NOT vote for BIDEN (or other Left Wing Democrats – look at their STATES and CITIES!) if you value your Country, State or Town. Kalifornia is about BANKRUPT. One Enlightened Patriot sounding THE Alarm. Team Trump and his allies 2020.

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  7. biden is a joke. he parrots Trump’s accomplishments as something brand new that only he thought of. this man will send this country to hell before 6 months is out. we cannot afford to have him and his horrible excuse for a v.p. to get anywhere near the Whitehouse. our entire lives depend on keeping America great. they want to tear everything down, impose lockdowns on everyone, tax the holy hell out of the middle class, and give it all away to those who would rather sit on their duffs and get it all for free. I learned a long time ago there is nothing free in this world except air. and Biden will tax that soon. if you like no air in the summer in the southern hot states, rolling black outs in every state, no birds, etc, just vote demon ratic. he said yesterday in Pa. that he has the most inclusive and expansive VOTER FRAUD ORGANIZATION EVER SEEN IN POLITICS. THIS WAS NO GAFFE. THIS WAS A Freudian slip OF GIGANTIC PROPORTIONS. I heard Jill shitting a brick after he said it. that is why he is not allowed to go out and campaign 9 days from the election. googles most asked question is HOW DO I GET MY VOTE BACK????? buyers remorse, anyone??????

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