today:
147
yesterday:
311
Total:
1,018,386

경제동향

Joe Biden's economic agenda could destroy millions of American jobs and crush the nation's slow-but-steady recovery from the coronavirus pandemic, according to new projections from President Trump's former economists.

 

The Democratic presidential candidate's plan would ultimately result in about 4.9 million fewer full-time employees and reduce the nation's GDP, the broadest measures of goods and services produced in the country, by more than 8% over the next decade, according to the report, which was authored by Casey Mulligan, a University of Chicago professor who previously served as chief economist of the White House Council of Economic Advisers; Kevin Hassett, also a former White House economist now at Stanford University's Hoover Institution; Timothy Fitzgerald and Cody Kallen.

 

A Biden presidency would translate into a loss of roughly $6,500 per household per year, the study shows.

 

The economists projected that Biden's plan to expand subsidies for health insurance under the Affordable Care Act; undo some of the 2017 Tax Cuts and Jobs Act and increase the taxation of corporates; and establish new environmental standards, reversing years of regulatory reform, would discourage Americans from working more and earning more.

 

The former vice president has unveiled a multitrillion-dollar agenda that would be funded in large part by higher taxes on wealthy U.S. households – which he describes as anyone earning more than $400,000 annually – and corporations. That includes higher income tax rates, an expansion of the payroll tax for Social Security, new tax credits and fewer deductions.

 

Almost 80% of the tax increases backed by Biden would land on the top 1% of earners in the U.S., according to a recent projection from the Penn Wharton Budget Model, a nonpartisan group at the University of Pennsylvania's Wharton School.

 

Biden has pledged to hike the corporate tax rate from 21% to 28% on "day one" if he wins the Nov. 3 election, regardless of the nation's unemployment rate.

 

"I'd make the changes on the corporate taxes on day one," he told CNN's Jake Tapper in mid-September. "And the reason I'd make the changes to corporate taxes, it can raise $1.3 trillion if they just started paying 28% instead of 21%. What are they doing? They're not hiring more people."

 

On top of that, Biden has promised to roll back other changes made by Trump in the 2017 Tax Cuts and Jobs Act, including restoring the top individual income tax bracket to 39.6% from 37% for those earning more than $400,000 annually.

 

That would result in an average tax increase of nearly $300,000 for households in the top 1% of the country, compared with a $260 per year increase for those in the middle, according to the Tax Policy Center.

 

Biden has also said he will subject wages above $400,000 to the 12.4% payroll tax, creating a so-called "donut hole" for earnings between $137,700 and $400,000, which would be exempt.

 

Other analyses of Biden's tax plans are more optimistic: Findings from the Penn Wharton Budget Model estimate it would cause the nation's GDP to shrink by 0.4% in 2030, and increase by 0.8% in 2050.

 

A separate report released by Moody's Analytics found that Biden would create roughly 7 million more jobs than Trump if he wins the November election.

No. Subject Date Views
47 TESLA file 2021.11.10 164
46 What is payroll processing? 2020.05.30 169
45 Some Blizzard Workers are being paid below $40,000 a year, less than half the city's median household income. 2020.08.06 173
44 [일런머스크] 집단소송에 대하여 승리 2023.02.03 181
43 After confusion, Orange County officials clarify coronavirus order discouraging gatherings, say county ‘is not shut down for business’ 2020.03.19 182
42 Target temporarily closes 20 Southern California stores 2020.06.01 182
41 Anaheim orders 6 p.m. curfew to quell potential unrest 2020.06.01 190
40 캘리포니아 주지사,일런머스크 에게 '캘리포니아로 본사 이전해 달라고 요청' 2023.02.22 190
39 Smile Brands, Irvine file 2020.07.11 196
38 The Next CPI Report: What to Expect 2023.02.13 208
37 Trump signs PPP reform bill loosening restrictions on small business loan recipients 2020.06.06 214
36 Jong Kim of CENTURY 21 Discovery 2020.02.10 215
35 FICO 10 T 2020.02.01 247
34 How Much Does It Cost to File for Bankruptcy? file 2020.08.13 258
33 EDD- Certifying for Weeks Ending March 14 through May 9, 2020 2020.05.11 267
32 [테슬라] 마스터플랜 3 2023.02.07 283
31 Business Licensing 2020.02.28 285
» Biden's economic plan could crush nation's recovery from coronavirus pandemic, conservative economists say 2020.10.20 289
29 Crystal Cove State Park file 2020.08.07 297
28 Buying Home 2020.06.15 305
27 Let's Take Action - Dark Web exposed 2020.09.28 324
26 Average Americans have a total credit limit of $22,751 2020.05.17 348
25 TESLA Vehicle Production & Deliveries - 2022 FINAL 2023.01.02 390
24 When is a collection account deleted? 2020.02.18 424
23 1099-K 2019.12.10 515
22 The Irvine Spectrum Center 2018.09.19 570
21 Orange County Attorney was Sentenced to Over Five Years in Prison file 2019.02.21 587
20 Kelemen Co. Buys 300K SF Irvine Office Tower For $106M 2018.09.17 589
19 IRVINE BUSINESS ADVANTAGES – RUN YOUR BUSINESS FROM IRVINE file 2018.12.04 599
18 A Wolf Pack: 2019.10.01 606