Former President Donald Trump’s economic policies stand in stark contrast to those of current President Joe Biden.
During his presidency, President Trump’s economic policies included efforts to repeal the Affordable Care Act, implement trade protection measures, restrict immigration, and deregulate the energy and financial sectors.
President Biden has centered his policies on printing more money and fostering a narrative of “prosperity growing from the bottom up and the middle out.”
President Biden’s approach directly repudiates free-market Reaganomics and its core principles, which advocate for small government and argue that job creators are responsible for economic growth.
A Capitalist?
The handout claims that “President Biden is a capitalist and believes that anyone should be able to become a millionaire or a billionaire. He also believes that it is wrong for America to have a tax code that results in America’s wealthiest households paying a lower tax rate than working families.”
While the White House states that President Biden is a capitalist on paper, his policy is far from it. He lives and breathes unnecessary taxation and will overtax the middle classes and bolster involvement in government programs.
It’s a shell game: Give more funding to low-income and middle-income Americans so that big government can increase taxes on low-income and middle-income Americans.
As for President Trump’s reelection plans, he has many. He has promised that on his first day back in office, he will invoke the Insurrection Act to shut down potential mass protests and civil unrest and use the act to detain illegal immigrants at the southern border.
President Trump has stated that he will follow the Eisenhower model and “carry out the largest domestic deportation operation in American history.”
He also has promised to end birthright citizenship and has proposed a multiyear plan to phase out Chinese imports of electronics, steel, and pharmaceuticals.
He also said he plans to force Chinese companies “to sell any holdings that jeopardize America’s national security” and to ban Chinese holdings in the energy, technology, and agricultural sectors.
Promising More Tariffs
President Trump also has plans to increase tariffs and continue the protectionist agenda that began during his first term. He also has promised to stop the Russia–Ukraine war within 24 hours of retaking office.If President Biden wins, everything stays the same. He seems quite happy with the way things are, and so do his supporters.
He will increase the top tax rate to 39.6 percent, raise the corporate tax rate to 28 percent, increase immigration, increase Obamacare and the medical industrial complex, and forgive student loans.
He will continue to penalize Americans for not buying insurance but give free insurance to illegal aliens. The Department of Education will remain all-powerful, brainwashing our students and forcing misgendered pronouns on our children.
President Biden also will eliminate right-to-work laws, remove noncompete clauses, and continue to increase runaway government debt.
The Russia–Ukraine war will continue. There also will be a concerted effort to shift the axis of power to the Pacific and increase integration with Asia and South America, fulfilling President Barack Obama’s Trans-Pacific dream.
The candidates’ divergent economic policies and plans reflect distinctly different visions for America.
A Biden victory will be all about maintaining the status quo with increased taxation and progressive policy shifts.
A Trump win will boost business confidence, spur investment, retool Obamacare, and dismantle the administrative state, leading to a secure border, strong leadership, and continued economic prosperity.
