Joe Biden unveiled his economic plan but the only part that would actually work is the part he stole from President Trump, Buy American.
He is vowing to do away with “Shareholder capitalism.” But, he did not say where the money would then come from.
He says that Black and Brown communities and labor unions should be getting their hands on some of the profits.
But, without investors, there is no money to run the businesses, so they won’t need workers because there will be no jobs. venture capitalists will take their money overseas.
Plus in the case of a company that sells milk, the union wants the cow. Also, the $15 minimum wage will keep kids and unskilled adults out of the labor pool.
It will also mean the end to companies that do things like lawn services. Doubling the costs will drive many people to do their own.
Biden has said he wants all workers to be unionized whether they want to be or not.
Unions have already destroyed out steel industry and many times cripples car companies. That’s why automobile manufacturers set themselves up in Kentucky and South Carolina rather than Detroit.
Biden, addressing a small, socially-distant group of workers and journalists at the McGregor Industries metal works facility, said that he would raise the corporate tax rate to 28% (from 21%, where Trump lowered it in the Tax Cut and Jobs Act of 2017).
He also said that he would spend $400 billion on infrastructure projects, including “clean energy” projects, touting his experiences in the Obama administration’s Recovery Act (without mentioning high-profile “green” failures like Solyndra).
And Biden said that he would implement a policy of “Buy America,” in which the federal government would purchase pharmaceuticals and medical supplies exclusively from domestic suppliers.
He also stressed the expansion of Obamacare, and spending on teachers.
And Biden said that he would grapple with “the cost of systemic racism” and provide “a comprehensive agenda for racial equality in our country.”