A Radical Tax Increase Will Reverse the US Recovery

A Radical Tax Increase Will Reverse the US Recovery
Democratic presidential nominee former Vice President Joe Biden delivers a speech in Wilmington, Del., on July 28, 2020. Mark Makela/Getty Images
Daniel Lacalle
Updated:
Commentary

The U.S. elections should be a warning sign for businesses and families. The introduction of European-style labor rigidities, higher taxes, and large spending programs announced by Democratic presidential candidate Joe Biden should remind us of the negative impact on growth and jobs that those same policies created on many European Union countries.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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