Joe Biden's tax hike would cut GDP by 1.5%!!

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barrysoetoro
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Joe Biden's tax hike would cut GDP by 1.5%!!

Post by barrysoetoro » Mon Jul 27, 2020 9:40 pm

https://taxfoundation.org/joe-biden-tax-plan-2020/

Biden’s plan would raise tax revenue by $3.8 trillion over the next decade on a conventional basis. When accounting for macroeconomic feedback effects, the plan would collect about $3.2 trillion over the next decade.

According to the Tax Foundation’s General Equilibrium Model, the Biden tax plan would reduce GDP by 1.51 percent over the long term.

According to the Tax Foundation General Equilibrium Model, Biden’s tax plan would reduce the economy’s size by 1.51 percent in the long run. The plan would shrink the capital stock by 3.23 percent and reduce the overall wage rate by 0.98 percent, leading to 585,000 fewer full-time equivalent jobs.

That's a lot of people out of work.
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antifa
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by antifa » Mon Jul 27, 2020 10:38 pm

What goods and services are produced in the US besides war, mass surveillance, and prisons?
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barrysoetoro
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by barrysoetoro » Mon Jul 27, 2020 10:49 pm

antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
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Does asshole evil know what Joe Biden's plan is for reopening schools yet?

antifa
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by antifa » Mon Jul 27, 2020 10:57 pm

barrysoetoro wrote:
Mon Jul 27, 2020 10:49 pm
antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
The economy is based on government spending monopoly money. Biden has no control over the ponzi scheme. Citigroup tells him what to do.
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barrysoetoro
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by barrysoetoro » Tue Jul 28, 2020 9:29 am

antifa wrote:
Mon Jul 27, 2020 10:57 pm
barrysoetoro wrote:
Mon Jul 27, 2020 10:49 pm
antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
The economy is based on government spending monopoly money. Biden has no control over the ponzi scheme. Citigroup tells him what to do.
Do you want jobs or not?

if you're like evil and lyin, and get paid to stay home, vote for Biden.
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Does asshole evil know what Joe Biden's plan is for reopening schools yet?

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Chester Cheesewright
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by Chester Cheesewright » Tue Jul 28, 2020 9:34 am

barrysoetoro wrote:
Mon Jul 27, 2020 10:49 pm
antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
► GWB signed two massive fat cat tax cuts and blew up our economy
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barrysoetoro
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by barrysoetoro » Tue Jul 28, 2020 12:19 pm

Chester Cheesewright wrote:
Tue Jul 28, 2020 9:34 am
barrysoetoro wrote:
Mon Jul 27, 2020 10:49 pm
antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
► GWB signed two massive fat cat tax cuts and blew up our economy
So if he had raised taxes, then the economy wouldn't have blown up, right? What would it have done?
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Does asshole evil know what Joe Biden's plan is for reopening schools yet?

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barrysoetoro
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by barrysoetoro » Tue Jul 28, 2020 3:01 pm

Chester Cheesewright wrote:
Tue Jul 28, 2020 9:34 am
barrysoetoro wrote:
Mon Jul 27, 2020 10:49 pm
antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
► GWB signed two massive fat cat tax cuts and blew up our economy
so you're saying taxes should have remained in place so the economy would not grow? Does that make any sense? And Bill Clinton repealing glass-steagall is what caused it to quote-unquote blow up.
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Does asshole evil know what Joe Biden's plan is for reopening schools yet?

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Chester Cheesewright
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by Chester Cheesewright » Tue Jul 28, 2020 3:25 pm

barrysoetoro wrote:
Tue Jul 28, 2020 12:19 pm
Chester Cheesewright wrote:
Tue Jul 28, 2020 9:34 am
barrysoetoro wrote:
Mon Jul 27, 2020 10:49 pm
antifa wrote:
Mon Jul 27, 2020 10:38 pm
What goods and services are produced in the US besides war, mass surveillance, and prisons?
This post is about Joe Biden, and how his tax plan will cripple our economy. Stick with it, or go post on another board
► GWB signed two massive fat cat tax cuts and blew up our economy
So if he had raised taxes, then the economy wouldn't have blown up, right? What would it have done?
► Oh, his main problem was the credit bubble he created to goose the housing market
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I spit on your service.” - - barrysoetoro

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thelionofthenorth
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Re: Joe Biden's tax hike would cut GDP by 1.5%!!

Post by thelionofthenorth » Tue Jul 28, 2020 3:30 pm

Go ahead, DK, explain the proposed Biden tax plan in your own words.
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