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Biden commits 7 economic deadly sins

Stephen Moore on

Joe Biden keeps claiming to be a centrist Democrat.

Polls show that, while most realize that President Donald Trump would be better for our economy than Biden, many think that old Uncle Joe's economic plan is relatively harmless and won't endanger jobs, paychecks or retirement savings.

Think again. Let's look at what's actually in Biden's economic plan so everyone has their eyes wide open when they vote.

I've read the whole thing. There is nothing centrist in this economic scheme. In many ways, it is the most radical plan proposed by a major presidential nominee of either party in any of our lifetimes. Biden's plan is further to the socialist left than anything such liberal nominees of yesteryear, including Jimmy Carter, George McGovern, Barack Obama and even Hillary Clinton, ever dreamed.

Here are the most dangerous ideas in the Biden plan, or what I call Biden's seven economic deadly sins:

No. 1: The most significant tax increase in the history of America.

 

Biden would raise taxes by some $4 trillion over the next decade.

The plan clobbers small businesses with a maximum corporate income tax rate from 21% now to 28%. The capital gains tax would skyrocket from 24% to 40% for those making more than $1 million per year, thus threatening to tank the stock market and reduce every family's retirement savings in America.

No. 2: The end of right-to-work laws in America.

Biden's plan forces millions of workers to join a union and pay union dues, whether they want to or not. Today, 27 states, including Arizona, Georgia, Michigan and Texas, have right-to-work laws that give workers the right to choose to join the union. The National Right to Work Association warns that these state laws are effectively repealed under the Biden plan. Big Labor bosses could snatch away thousands of dollars right out of workers' paychecks without their consent.

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