(RepublicanReport.com) – One of Joe Biden’s defining characteristics as president is the indifference with which most voters seem to view him. He’s not the radical leader Bernie Sanders would have been, allaying fears of the uprooting of our tax, welfare, and business regulation systems. But, he does offer something very different from the brash, businesslike approach of Donald Trump.
In short, while no one is that optimistic about the good Joe Biden might do, people seem hopeful his policies won’t fundamentally change America for the worse. Unfortunately, that hope could be misguided. Three Biden policies, in particular, pose huge dangers to our economy.
Higher taxes are the cornerstone of Leftist economic ideology, the theory being that those who work for their money should sponsor comfortable lifestyles for those who don’t. It doesn’t take a genius to figure out the negative impact this will have for businesses.
Despite his reputation as a moderate leftist, Joe Biden is set to propose huge tax increases during his presidency. Those earning more than $400,000 will be asked to pay more, and corporate tax could increase from 21% to 28%.
One of the tenets of Biden’s election campaign was a promise to reverse the strict immigration policies Donald Trump championed throughout his time in office. He plans to cut funding for Trump’s border wall and provide a path to citizenship for millions of illegal immigrants over the coming years.
The economic risks of these ideas hardly need much explanation. Currently, we can barely afford vital stimulus checks for our legal residents. It cannot possibly be a good idea to open the floodgates to millions of people to enter the country and rely on our tax-funded resources.
President-elect Joe Biden is readying legislation that would provide an eight-year path to citizenship for an estimated 11 million people living in the U.S. without legal status. It's a sharp reversal from the Trump administration's immigration policies.https://t.co/p1sEjKZid5
— The Associated Press (@AP) January 19, 2021
An Increase in Minimum Wage
Another well-worn Democrat talking point is the idea we need a higher federal minimum wage; the figure usually thrown about is $15 per hour. Of course, this sounds great in theory; why should someone working in Wyoming make less than someone doing an identical job in California or New York?
The answer, had Democrats bothered to think about it, is simple. Costs vary from place to place, making it more expensive to hire workers in California, and more expensive for those workers to survive on the money they make. An arbitrary national minimum wage will only serve to handcuff employers in low-cost areas, forcing them to hire fewer people, lay off workers, or rely on automation.
The take-away lesson from all this is not to let yourself be fooled by Joe Biden. Don’t let him persuade you he’s a centrist, and don’t fall into the trap of believing his proposed measures won’t land this country in financial quicksand.
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