President Biden's Tax Plan

President Biden's Tax Plan would involve the following:

• tax increases for corporations
• tax increases for high income earners

Outcomes:

1. 335,000 jobs would be lost due to these tax increases
2. there would be a 7% reduction in economic output
3. there would be an unknown % increase in prices

KNOWN FACT:

Wealthy Individuals and Wealthy Corporations create jobs...  jobs ARE NOT created by the middle class or the poor class in the USA

AVERAGE WAGE IN USA :    $60, 575

There are 5,300,000 millionaires in USA

There are 770 billionaires in USA

2% of the population are millionaires/billionaires

300,000,000 people in the USA

Corporations in USA

Employees                                # of Businesses

100 or less                                    153,318

101 - 249                                        89,578

250 - 499                                       33, 537

500 or moe                                    19, 218

Biden's tax plan is to tax the 2% of the US population in order to give more benefits to the 98% of the US population.

Question:  Do you think this will piss off the 2%?

Question:  If they are pissed off what do you think that they will do?

OPINION:  

First --  It it my belief that the most (but not all) of the millionaires and billionaires will be pissed off and if their money is not in offshore bank accounts it soon will be so that this does not happen again...

Second --  Most (but no all) companies will invest in AI/Robots as quickly as possible, so that they can reduce their workforce as quickly and as dramatically as they can...

Third --  Companies will reduce their production, and raise their prices to pay for the increase in prices so that their BOTTOM LINES are not impacted and their EPS and dividends to stock holders remain the same...

FOURTH  --  There will be supply chain problems that when coupled with the reduced production will cause prices in increase substantially...

FIFTH  --  There will be a global impact of this on the global community causing more countries to stop trading in US dollars...

SIXTH  --  The stock market will not like any of this and will begin a gradual decline as the marketplace spins out of control...

SEVENTH  --  Some of Biden's Revenues will increase the movement toward Green Energy but that industry will not be hiring any of the unemployed workers for two reasons:

1.  they are not trained properly

2.  it will be cheaper to use robots