The Nation's Financial Condition

[Peter Brown]

Hey libs,

Better get de Blasio out of NYC before he wrecks it for the next decade:

https://nypost.com/2020/09/16/nearly-ha ... ting-poll/

In results released Wednesday, the survey, conducted between July 13 and Aug. 3, found that 44 percent have thought of leaving the city in the past four months, with 69 percent citing cost of living as the main reason to move.

Quality of life in the city that never sleeps has taken a hit, too, during the pandemic. Just under 4 in 10 respondents said quality of life is now “excellent or good” — a plunge from 79 percent who felt that way pre-coronavirus.

[RedFromMI]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

[cradleandshoot]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

The plans for the Titanic said she was "unsinkable" Almost every plan will work until it is implemented. Then all the problems start to come to the surface. It is how you deal with those problems before you hit the iceberg.

[Peter Brown]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

The plans for the Titanic said she was "unsinkable" Almost every plan will work until it is implemented. Then all the problems start to come to the surface. It is how you deal with those problems before you hit the iceberg.

Anyone want to bet the Party affiliation of these good folks?

This analysis required the full capabilities of the PWBM integrated model. Contributions were made by Alexander Arnon, Marcos Dinerstein, Maddison Erbabian, Jagadeesh Gokhale, Yan He, Zheli He, Austin Herrick, Jon Huntley, Victoria Osorio, Minh Quach, John Ricco, Seul Ki (Sophie) Shin, Xiaoyue Sun, Daniela Viana Costa, and Youran Wu. The analysis was directed by Efraim Berkovich, Richard Prisinzano, Felix Reichling, and Kent Smetters. Kody Carmody provided background research and writing support. Prepared for the website by Mariko Paulson.


I'm betting somewhere north of 100% of them are partisan Dem birdbrains, zero common sense, no life skills, own no tooling, can not grasp the basic physics of plumbing, electricity, or carpentry. In other words, without the skills of people who know what they are actually doing, all of these nerds would die within 24 hours if left to fend for themselves off the grid. Show me a report by someone who has accomplished something! Not Melissa Gates, either, or Laurene Powell Jobs. I want winners!!

[a fan]

Quick Pete! Tell your Sec of State to shut down every polling station outside of rich areas of Florida!!

TALLAHASSEE — Florida‘s Republican governor will end a Trump program to boost unemployment benefits to out-of-work Americans because the state’s bare-bones jobless program is too poor to continue qualifying for the federal boost.

Gov. Ron DeSantis, an ally of President Donald Trump, is scrapping the extra $300 in weekly benefits because the state pays its unemployed workers too little to meet a 25 percent matching requirement. Florida appears to be the first state in the nation to halt the program because of its cost.



https://www.politico.com/states/florida ... re-1317053

[RedFromMI]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

The plans for the Titanic said she was "unsinkable" Almost every plan will work until it is implemented. Then all the problems start to come to the surface. It is how you deal with those problems before you hit the iceberg.

Anyone want to bet the Party affiliation of these good folks?

This analysis required the full capabilities of the PWBM integrated model. Contributions were made by Alexander Arnon, Marcos Dinerstein, Maddison Erbabian, Jagadeesh Gokhale, Yan He, Zheli He, Austin Herrick, Jon Huntley, Victoria Osorio, Minh Quach, John Ricco, Seul Ki (Sophie) Shin, Xiaoyue Sun, Daniela Viana Costa, and Youran Wu. The analysis was directed by Efraim Berkovich, Richard Prisinzano, Felix Reichling, and Kent Smetters. Kody Carmody provided background research and writing support. Prepared for the website by Mariko Paulson.


I'm betting somewhere north of 100% of them are partisan Dem birdbrains, zero common sense, no life skills, own no tooling, can not grasp the basic physics of plumbing, electricity, or carpentry. In other words, without the skills of people who know what they are actually doing, all of these nerds would die within 24 hours if left to fend for themselves off the grid. Show me a report by someone who has accomplished something! Not Melissa Gates, either, or Laurene Powell Jobs. I want winners!!

Let's unpack this load of bullsh!t from PB:

1. Nothing can be north of 100% of a whole.
2. Partisan Dem birdbrains is a favorite phrase to dismiss something PB has no idea of how to counter, because he apparently lacks the ability to reason and think. It is also a statement made WITHOUT ANY EVIDENCE, and of course, PB has NEVER shown himself to argue from anything but an extreme partisan (anti-Democratic) viewpoint.
3. Zero common sense is not in any evidence - again just thrown out there to make people think that this group does bad work (not withstanding the fact that they are highly regarded as a nonpartisan source of budgetary predictions and analysis, which he could discover if he only actually did the research.
4. No life skills - again without evidence. He fails to actually go to the groups extensive web presence to see the sort of people employed, and what they have accomplished in their lives (apparently far more than PB).
5. No tooling? Who the eff cares, and again without evidence. I don't want my mechanic or carpenter analyzing budgetary proposals because they would not even know where to begin. Just like PB.
6. PB has no idea of they understand physics, and the trades have nothing to do with analyzing a budget.
7. They have accomplished plenty, but PB does NOT EVEN BOTHER to find out.
8. Winners as defined only by PB. Whose judgement is highly suspect.

[njbill]

Quick Pete! Tell your Sec of State to shut down every polling station outside of rich areas of Florida!!

TALLAHASSEE — Florida‘s Republican governor will end a Trump program to boost unemployment benefits to out-of-work Americans because the state’s bare-bones jobless program is too poor to continue qualifying for the federal boost.

Gov. Ron DeSantis, an ally of President Donald Trump, is scrapping the extra $300 in weekly benefits because the state pays its unemployed workers too little to meet a 25 percent matching requirement. Florida appears to be the first state in the nation to halt the program because of its cost.



https://www.politico.com/states/florida ... re-1317053

Probably ought to make that Gov. Ron Disasterous, formerly an ally of President Trump’s.

The biggest tell that One Term Ron is well on his way to Jeff Sessions-ville is that he didn’t get a speaking slot at the convention. Rudy got a spot, but not DeSantis? Oh, if the convention had only been held a few months earlier when Ron was still the golden boy.

Trump is none too happy with Ronnie’s handling of the virus because he thinks it is going to cost him Florida in November. And now Ron is cutting benefits? Everyone whose benefits are cut will be voting for Biden. It’s the economy, stupid.

[runrussellrun]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

no plan for "climate change" spending?

maybe they should update it.

[RedFromMI]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

no plan for "climate change" spending?

maybe they should update it.

No - it is in there - but you have to go to the link...

Collectively, Biden’s infrastructure and R&D plans represent $1.6 trillion in new spending over the ten-year budget window. Those plans include new investments in:

Water infrastructure,
High-speed rail,
Municipal transit,
Other green infrastructure projects,
Clean energy R&D,
“Breakthrough” technology R&D, e.g., 5G and artificial intelligence.

PWBM models those investments as contributing to “public capital” which complements private capital and labor. The amount of public capital created by a public investment is determined by two main effects:

[CU88]

Come Oct 1 the airlines will start adding people to the unemployment lines. Unites Airlines and Pilots Union sent letter to Congress and Mnuchin today asking for 6 month extentions to Federal Aid coverage under CARES Act.

https://twitter.com/davidshepardson/sta ... 8274013185

[Peter Brown]

Quick Pete! Tell your Sec of State to shut down every polling station outside of rich areas of Florida!!

TALLAHASSEE — Florida‘s Republican governor will end a Trump program to boost unemployment benefits to out-of-work Americans because the state’s bare-bones jobless program is too poor to continue qualifying for the federal boost.

Gov. Ron DeSantis, an ally of President Donald Trump, is scrapping the extra $300 in weekly benefits because the state pays its unemployed workers too little to meet a 25 percent matching requirement. Florida appears to be the first state in the nation to halt the program because of its cost.



https://www.politico.com/states/florida ... re-1317053

a fan.jpg (64.13 KiB) Viewed 1269 times

[a fan]

Quick Pete! Tell your Sec of State to shut down every polling station outside of rich areas of Florida!!

TALLAHASSEE — Florida‘s Republican governor will end a Trump program to boost unemployment benefits to out-of-work Americans because the state’s bare-bones jobless program is too poor to continue qualifying for the federal boost.

Gov. Ron DeSantis, an ally of President Donald Trump, is scrapping the extra $300 in weekly benefits because the state pays its unemployed workers too little to meet a 25 percent matching requirement. Florida appears to be the first state in the nation to halt the program because of its cost.



https://www.politico.com/states/florida ... re-1317053

a fan.jpg

Uh, Pete. You understand that Reagan's quote meant: we need to get citizens good jobs so that they don't NEED welfare, right?

Reagan didn't mean: throw them all off welfare in the middle of a pandemic, and then pretend like "problem: solved. Reagan's legacy fulfilled".

[runrussellrun]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

no plan for "climate change" spending?

maybe they should update it.

No - it is in there - but you have to go to the link...

Collectively, Biden’s infrastructure and R&D plans represent $1.6 trillion in new spending over the ten-year budget window. Those plans include new investments in:

Water infrastructure,
High-speed rail,
Municipal transit,
Other green infrastructure projects,
Clean energy R&D,
“Breakthrough” technology R&D, e.g., 5G and artificial intelligence.

PWBM models those investments as contributing to “public capital” which complements private capital and labor. The amount of public capital created by a public investment is determined by two main effects:

Vague plans. Also called USELESS. What kind of HIGH speed rail? What is/are "other green infrastructure projects? ?? Planting trees?

What the heck does 5G have to do with climate change?

This PLAN is junk.

[RedFromMI]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

no plan for "climate change" spending?

maybe they should update it.

No - it is in there - but you have to go to the link...

Collectively, Biden’s infrastructure and R&D plans represent $1.6 trillion in new spending over the ten-year budget window. Those plans include new investments in:

Water infrastructure,
High-speed rail,
Municipal transit,
Other green infrastructure projects,
Clean energy R&D,
“Breakthrough” technology R&D, e.g., 5G and artificial intelligence.

PWBM models those investments as contributing to “public capital” which complements private capital and labor. The amount of public capital created by a public investment is determined by two main effects:

Vague plans. Also called USELESS. What kind of HIGH speed rail? What is/are "other green infrastructure projects? ?? Planting trees?

What the heck does 5G have to do with climate change?

This PLAN is junk.

It is infrastructure that is not part of climate change efforts - why does it have to?

Just because you are skeptical does not mean it is not a better plan than ANYTHING from the Rs.

[Kismet]

https://time.com/5888024/50-trillion-in ... y-america/

"The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure

Like many of the virus’s hardest hit victims, the United States went into the COVID-19 pandemic wracked by preexisting conditions. A fraying public health infrastructure, inadequate medical supplies, an employer-based health insurance system perversely unsuited to the moment—these and other afflictions are surely contributing to the death toll. But in addressing the causes and consequences of this pandemic—and its cruelly uneven impact—the elephant in the room is extreme income inequality.

How big is this elephant? A staggering $50 trillion. That is how much the upward redistribution of income has cost American workers over the past several decades."

Folks better start paying attention - stuff like this is how revolutions begin -

[seacoaster]

https://time.com/5888024/50-trillion-in ... y-america/

"The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure

Like many of the virus’s hardest hit victims, the United States went into the COVID-19 pandemic wracked by preexisting conditions. A fraying public health infrastructure, inadequate medical supplies, an employer-based health insurance system perversely unsuited to the moment—these and other afflictions are surely contributing to the death toll. But in addressing the causes and consequences of this pandemic—and its cruelly uneven impact—the elephant in the room is extreme income inequality.

How big is this elephant? A staggering $50 trillion. That is how much the upward redistribution of income has cost American workers over the past several decades."

Folks better start paying attention - stuff like this is how revolutions begin -

Good article Kismet; thanks for posting it. Here's a snip:

"Much has been made about white male grievance in the age of Trump, and given their falling or stagnant real incomes, one can understand why some white men might feel aggrieved. White, non-urban, non-college educated men have the slowest wage growth in every demographic category. But to blame their woes on competition from women or minorities would be to completely miss the target. In fact, white men still earn more than white women at all income distributions, and substantially more than most non-white men and women. Only Asian-American men earn higher. Yet there is no moral or practical justification for the persistence of any income disparity based on race or gender."

This is one of our biggest problems. The strong middle class that was the foundation of our society has been reduced dramatically.

[Peter Brown]

https://time.com/5888024/50-trillion-in ... y-america/

"The Top 1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That's Made the U.S. Less Secure

Like many of the virus’s hardest hit victims, the United States went into the COVID-19 pandemic wracked by preexisting conditions. A fraying public health infrastructure, inadequate medical supplies, an employer-based health insurance system perversely unsuited to the moment—these and other afflictions are surely contributing to the death toll. But in addressing the causes and consequences of this pandemic—and its cruelly uneven impact—the elephant in the room is extreme income inequality.

How big is this elephant? A staggering $50 trillion. That is how much the upward redistribution of income has cost American workers over the past several decades."

Folks better start paying attention - stuff like this is how revolutions begin -

Good article Kismet; thanks for posting it. Here's a snip:

"Much has been made about white male grievance in the age of Trump, and given their falling or stagnant real incomes, one can understand why some white men might feel aggrieved. White, non-urban, non-college educated men have the slowest wage growth in every demographic category. But to blame their woes on competition from women or minorities would be to completely miss the target. In fact, white men still earn more than white women at all income distributions, and substantially more than most non-white men and women. Only Asian-American men earn higher. Yet there is no moral or practical justification for the persistence of any income disparity based on race or gender."

This is one of our biggest problems. The strong middle class that was the foundation of our society has been reduced dramatically.

You should vote for and reward the guy who has been in government for 48 years and was VP for 8. Clearly he did a great job.

[Brooklyn]

$22.8 trillion dollars
The federal debt is the total amount of money that the federal government owes, either to its investors or to itself. At the end of fiscal year 2019, the total federal debt was $22.8 trillion dollars.


https://www.google.com/search?q=US+debt ... e&ie=UTF-8



Say forum Republicans - whatever happened to your concerns over the tRUMP debt?

[runrussellrun]

Wharton Budget Model analyzes Biden's financial plans, and concludes it is good:

September 14, 2020
PWBM Analysis of the Biden Platform

https://budgetmodel.wharton.upenn.edu/i ... 0-analysis

Summary: Presidential candidate Joe Biden’s campaign has released a substantial list of policy proposals. PWBM finds that over the 10-year budget window 2021 – 2030, the Biden platform would raise $3.375 trillion in additional tax revenue and increase spending by $5.37 trillion. Including macroeconomic and health effects, by 2050 the Biden platform would decrease the federal debt by 6.1 percent and increase GDP by 0.8 percent relative to current law. Almost 80 percent of the increase in taxes under the Biden tax plan would fall on the top 1 percent of the income distribution.

Key Points

Over fiscal years 2021 – 2030, the Biden platform would raise $3.375 trillion in new tax revenue while increasing spending by $5.37 trillion.

Under the Biden tax plan, households with adjusted gross income (AGI) of $400,000 per year or less would not see their taxes increase directly but would see lower investment returns and wages as a result of corporate tax increases. Those with AGI at or below $400,000 would see an average decrease in after-tax income of 0.9 percent under the Biden tax plan, compared to a decrease of 17.7 percent for those with AGI above $400,000 (the top 1.5 percent).

The largest areas of new net spending are education at $1.9 trillion over ten years and infrastructure and R&D at $1.6 trillion over ten years.

In total, including macroeconomic and health effects, the Biden platform increases federal debt by 0.1 percent in 2030 before decreasing debt by 1.9 percent in 2040 and 6.1 percent in 2050; GDP decreases by 0.4 percent in 2030, sees no change in 2040, and increases by 0.8 percent in 2050.

Contents

Overall Budget Effects
Biden’s Tax Plan
Biden’s Spending Plans, by Policy Area
Spending: Public Investment
Spending: Housing
Spending: Social Security
Spending: Healthcare
Immigration
Estimated Macroeconomic Results
Immigration
Scenario a. Immigration and Tax
Scenario b. Adding Public Investment
Scenario c. Adding Housing Assistance
Scenario d. Adding Social Security Benefits
Scenario e. Adding Healthcare
Future Analysis

no plan for "climate change" spending?

maybe they should update it.

No - it is in there - but you have to go to the link...

Collectively, Biden’s infrastructure and R&D plans represent $1.6 trillion in new spending over the ten-year budget window. Those plans include new investments in:

Water infrastructure,
High-speed rail,
Municipal transit,
Other green infrastructure projects,
Clean energy R&D,
“Breakthrough” technology R&D, e.g., 5G and artificial intelligence.

PWBM models those investments as contributing to “public capital” which complements private capital and labor. The amount of public capital created by a public investment is determined by two main effects:

Vague plans. Also called USELESS. What kind of HIGH speed rail? What is/are "other green infrastructure projects? ?? Planting trees?

What the heck does 5G have to do with climate change?

This PLAN is junk.

It is infrastructure that is not part of climate change efforts - why does it have to?

Just because you are skeptical does not mean it is not a better plan than ANYTHING from the Rs.

It IS literally equal to a coach telling the Man UP team, during a time out, to just "go out and score". Gee thanks.

But, you can't be serious. You just contradickted yourself. Is HIGH speed rail, what evah mechanics that make it go, part of the climate change plan, as you stated, or not, as you stated?

[runrussellrun]

For decades, or rather during Obama's state of the Union speeches....how many times did he spew the vague "climate change" infrastruction, high speed rails, nonsense?

https://obamawhitehouse.archives.gov/bl ... speed-rail

How did POTUSA (literally, yet he did nothing to legalize it ) do with his "vision"