Biden Economics Will Lead To Annual $6,500 Drop In Median Household Income
Published 17 hours ago
on October 19, 2020
By AFL
According to a Hover institute Study examined by the Wall Street Journal, Biden’s economic plan will result in the median annual American household income to drop by $6,500. The Hoover study examines Joe Biden’s proposals on health insurance, taxes, energy, and regulation.
Overall, the authors estimate that the Biden agenda, if fully implemented, would reduce full-time equivalent employment per person by about 3%, the capital stock per person by some 15%, and real GDP per capita by more than 8%. Compared to Congressional Budget Office estimates for these variables in 2030, this means there would be 4.9 million fewer working Americans, $2.6 trillion less in GDP, and $6,500 less in median household income.
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https://thewashingtonsentinel.com/biden-economics-will-lead-to-annual-6500-drop-in-median-household-income/