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Why you’re not hearing about Biden’s economic plan

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Why you’re not hearing about Biden’s economic plan

Joe Biden has a slew of proposals for new economic programs, and the tax hikes to pay for them. But the Democratic presidential candidate doesn’t have much to say about his economic plan, even though the nation’s in a deep recession and some fresh ideas might be welcome.

Yahoo Finance has asked the Biden campaign several times for an interview with a Biden economic adviser able to comment on the candidate’s plans. The campaign hasn’t responded. The New York Times wrote on June 11 that “few aspects of Joseph R. Biden’s  presidential campaign are shrouded in as much secrecy as the counsel he receives on the economy.” Biden has reportedly formed an advisory committee with more than 100 economists, who are sworn to silence regarding their participation.

Why so sketchy? Part of it probably involves a strategy to let voters focus on President Trump’s negative marks for handling the coronavirus pandemic and an outbreak of racial unrest, rather than Biden’s own ideas. “The Biden campaign would love to make this election a referendum on Donald Trump and not a choice between the two candidates,” Washington policy analyst Ed Mills of financial firm Raymond James says on the latest episode of the Yahoo Finance Electionomics podcast. “The more Biden talks about his policies, the more it becomes a choice between the two candidates, and that is an opening for Trump.”

Biden’s whole campaign has been in stealth mode, as the coronavirus pandemic forced the cancellation of campaign rallies and the former vice president laid low at his Delaware home. Biden has been holding online events with supporters, and he has shown up for a few in-person events. While bashing Trump, however, he’s saying little about his own policies. Axios recently reported that Trump is frustrated by Biden’s low profile and is trying to develop a “smoke him out” strategy that goads Biden into speaking out more and gives Trump more opportunity to attack Biden’s remarks (or mistakes).

Biden’s economic plan involves a variety of tax hikes more modest than those proposed in the Democratic primaries by Senators Bernie Sanders and Elizabeth Warren. But they’d still be a substantial change from the Trump status quo. Biden would raise the corporate tax rate from 21% to 28%, establish a new minimum tax on large companies, raise income and capital gains taxes on high earners, and repeal some corporate tax breaks. He’d use the additional tax revenue to finance new spending on clean energy, expanded health care, more college aid, infrastructure and other initiatives.

There are two scenarios for Biden’s economic plan. If he wins the presidency but Republicans maintain control of the Senate, he’d have difficulty getting tax and spending hikes passed and most of his ideas would remain on the shelf. If Biden wins and Democrats take over the Senate, his tax and spending plans might be more likely to pass. But it’s not a given that Congress would raise taxes with the economy still struggling to recover from the coronavirus recession.

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It would be back to the old Obama years of no growth and high taxes, no wonder he keeps hiding in his basement.

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The more the public's attention is upon Trump and his delusional statements about his "triumph" over a disease that is ravaging the nation the better it is for Biden. The latest polls reflect that reality.

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Maybe it is because once again after a Republican Presidency THERE IS NO ECONOMY !!!

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12 minutes ago, Bogie56 said:

Maybe it is because once again after a Republican Presidency THERE IS NO ECONOMY !!!

The main reason Biden doesn't talk about an economic plan is to avoid push-back from progressives within the Dem party;   Progressive did very well this week in the primaries; (well enough for CNN to predict that A.O.C. will challenge Senate Minority Leader Chuck Schumer in 2022.).

The best strategy for Biden would be to keep his message positive-and-vague;      The remaining undecided voter doesn't need to be convinced that Biden is a great choice,  but only a much much better one than the existing clown in office  (and Trump is doing a great job of that already!).

 

 

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21 hours ago, TomJH said:

The more the public's attention is upon Trump and his delusional statements about his "triumph" over a disease that is ravaging the nation the better it is for Biden. The latest polls reflect that reality......well at least you admit biden's a cowardly schtootz. thank you. :D

 

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1 hour ago, NipkowDisc said:

.well at least you admit biden's a cowardly schtootz. thank you.

I did? This statement has as much foundation in the real world as does Trump's that he has done a great job in fighting covid 19.

 

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56 minutes ago, NipkowDisc said:

..well at least you admit biden's a cowardly schtootz. thank you. :D

I wouldn't classify Biden has being cowardly but just strategic.     Either way laying low and being vague on policy positions and letting Trump's big mouth and Tweets sink him,  is the best course for Biden.     

Thank you.

 

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Most people are saying it is impossible to have a long term economic plan at the moment.  They have to stop the patient from bleeding to death first - once again I might add.

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1 hour ago, Bogie56 said:

Most people are saying it is impossible to have a long term economic plan at the moment.  They have to stop the patient from bleeding to death first - once again I might add.

Most people?      I'm curious what makes you say that;  E.g. you've seen some polling data? 

Also,   I don't see where the top post mentions long-term economic plans.       Like I said Biden is being vague and laying low mainly so he doesn't upset the progressive wing of the Dem party.   He know they can't stand him  and that they are still licking their wounds over Sanders being defeated (with some saying cheated).      Given their victories last week,   the progressive wings needs to be feared by Biden and Dem party establishment he clearly represents. 

Trump's only hope  is to bait Biden into taking what un-decided voters in those purple battleground states  would view as overly-progressive \ far-left stances on hot-button issues.      

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12 minutes ago, jamesjazzguitar said:

Most people?      I'm curious what makes you say that;  E.g. you've seen some polling data? 

Also,   I don't see where the top post mentions long-term economic plans.       Like I said Biden is being vague and laying low mainly so he doesn't upset the progressive wing of the Dem party.   He know they can't stand him  and that they are still licking their wounds over Sanders being defeated (with some saying cheated).      Given their victories last week,   the progressive wings needs to be feared by Biden and Dem party establishment he clearly represents. 

Trump's only hope  is to bait Biden into taking what un-decided voters in those purple battleground states  would view as overly-progressive \ far-left stances on hot-button issues.      

Most people - pundits on Bloomberg, pundits on Quest Means Business, Steve Mnuchin etc.  Stop the bleeding.  They are throwing money at the problem right now which means any plan that they had will have to be rewritten.

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1 hour ago, mr6666 said:
 
Trump caught a lot of flak from Republicans for failing to cite a single agenda item for the next four years,
saying only that he now has experience and knows players in Washington.
 
 
:rolleyes:
 

Not only does Trump have NO Economic Plan, he has NO PLAN for ANYTHING for the next 4 years other than to get re-elected.  The guy does not want to do the job, is incapable or unwilling to do the job, so the only reason he must want to be re-elected, besides his humongous, fragile ego, is to not be prosecuted for his many crimes, and run out the clock. 

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