Joe Biden’s solutions for America’s economy may provide more problems than answers. Biden has made it clear he would implement tax hikes to reverse the benefits of the Trump Tax Cuts and Jobs Act.
The Biden tax plan would shrink U.S. GDP, cost more than 500,000 jobs and reduce after-tax income by around 2.6 percent across all income groups. Additionally, Biden has proposed a number of tax hikes and will raise the corporate tax rate to 28 percent. Furthermore, Biden’s spending proposals will cost more than $6.3 trillion including a climate plan that would cost $2 trillion over four years.
On the other hand, President Trump has provided the economic leadership Americans deserve. Under President Trump’s guidance, Americans will continue to reap the benefits from his ‘Promises Made, Promises Kept’ agenda. Utility customers in all 50 states saw savings on their monthly bills thanks to the reduction in the corporate tax rate, as well as see an increase in their benefits and wages thanks to the Trump Administration’s tremendous tax cuts.
There is reasonable concern that Biden is not fit to make decisions about our economy, let alone lead our country. Americans cannot afford his plans, which would completely destroy our economy and undo the success American families and workers have experienced under the Trump Administration.
