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Biden 2.0 – Be Afraid, Be Very Afraid

Posted on Monday, May 13, 2024
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by Outside Contributor
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46 Comments
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Could a second Biden term be more injurious to the economy than his first term? It seems unimaginable given the first three years gave us 20% inflation, a $2,000 loss in average real incomes for the middle class, 6 million added illegal immigrants, a war on American energy that has caused gas prices to rise by more than 40% to $3.64 a gallon, the collapse of our many major cities, another $6 trillion added to the national debt, the unaffordability of new homes, and the chaos on college campuses.

So what’s the encore to that abysmal performance? What will Bidenomics 2.0 look like if it comes to that?

Remember, the Republicans have narrowly controlled the House since the midterm elections of 2022, which has put a modest break on President Joe Biden’s more dangerous ambitions, but a Biden blue wave could mean Democrats run the table and have the House and the Senate under their control.

If Biden wins, he will argue that voters have given him a mandate — to move forward with radical redistribution policies.

Here’s a cheat sheet on the top five Bidenomics 2.0 policy priorities:

1. Tax rates on investment up to 70%.

Biden didn’t get most of his tax increases through Congress. I calculate that the tax on a million-dollar investment that earns a million dollars would be as high as 70%, wiping out two-thirds of the gain. Business investment would crash, and trillions of dollars of capital would flow like a tidal wave to lower-tax nations.

2. $2 trillion in new debt spending.

Liberals have been complaining that even though Biden passed $6 trillion of new spending — adjusted for inflation, somewhat less than we spent to fight and win World War II — there was almost $2 trillion on its wish list that got left on the cutting room floor for green energy, welfare benefits, student loan bailouts and the like. Now they would have the votes to pass it. This means more income redistribution programs, more green energy spending, more corporate welfare giveaway schemes and a decade ahead with another $10 trillion additional debt spending.

3. A “net zero” energy policy eliminating production of nearly all our abundant fossil fuels.

America still gets between 70% and 80% of our energy from old-fashioned oil, gas, coal and diesel.

Biden says he’s fully committed to net zero fossil fuels and getting nearly all our energy from the electric grid system. Not only is that a technological pipe dream requiring a doubling of the electric grid system that is already experiencing brown outs in states like California, but it would make our entire $13 trillion economy dependent on one source. The cost of heating your home would likely double or triple.

4. An end to state “right-to-work” laws in 26 states.

Biden and the union bosses tried mightily to push the “PRO Act” over the goal line, but they fell a few votes short. That bill would replace “right-to-work” laws in the mostly red states with a universal “closed shop” forced union policy. This would mean that businesses, shops and factories that have fled to red states like Florida and Texas would move operations overseas.

5. The antitrust assault against Silicon Valley and corporate mergers ramps up.

We’ve seen the craziness of Federal Trade Commission chair Lina Khan, who wants to effectively eliminate all mergers and acquisitions even in industries such as social media, search engines, software, video streaming, cellphones, credit cards, artificial intelligence and online retail transactions. This will raise prices for consumers, dramatically slow innovation and cripple the ability of startup businesses to raise capital, thus putting America’s trillions of dollars of global tech dominance in grave danger. Remember, these globally dominant companies in the “Magnificent Seven” stocks have added almost half the gains in the stock market over the past nine months.

There is more to worry about under Bidenomics in a second term. One worry is that Dems will agree to eliminate checks and balances in our system of government by overturning the filibuster rule of at least 60 votes in the Senate to pass legislation. Another concern is that Dems will lock in their electoral strength by making Washington, D.C., and Puerto Rico states to add four more Democratic senators. Remember Kyrsten Sinema of Arizona and Joe Manchin of Pennsylvania heroically voted to save the filibuster — but they won’t be around in January 2025 to stop the court packing.

Could American businesses and families survive getting smashed by these gale-force winds of another Bidenomics hurricane in 2025 without capsizing the ship of state? I wouldn’t bet on it.

Stephen Moore is a visiting fellow at the Heritage Foundation and a senior economic advisor to Donald Trump. His latest book is: “Govzilla: How the Relentless Growth of Government Is Devouring Our Economy.”

COPYRIGHT 2024 CREATORS.COM

The opinions expressed by columnists are their own and do not necessarily represent the views of AMAC or AMAC Action.

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Jerry
Jerry
1 month ago

If he serves a second term it will be either civil war or complete enslavement

Kim
Kim
1 month ago

Grow a garden, get a gun, and gear up for a terrible ride if biden is reelected.

EVERY VOTE COUNTS.

Shar
Shar
1 month ago

What’s even scarier is that giving Biden another term increases the odds of Kamala Harris as president. It gives me nightmares.

Jeff S.
Jeff S.
1 month ago

I think Republicans need to grow a spine. We need to stop infighting and do what the demoncrates do . They don’t stop till they get what they want. Even if it takes years to get it. Joe Biden will cheat . He has been cheating all his life and he taught his son the same. If we don’t win this year it’s going to take generations to come back if we can !

Ken
Ken
1 month ago

If Biden is re-elected lord help us all!

Brenda G
Brenda G
1 month ago

The only way Joe Biden and any of these corrupt criminals can “win” is by cheating. No other way.So we as the legal citizens need to be sure we have our eyes on EVERYTHING. No illegal immigrant voters, poll watchers.All who vote need to have valid photo ID, address matches the voters registration. There needs to be zero exceptions to this rule,law.The registered voters for each precinct needs to match who voted, no exceptions.

Sue
Sue
1 month ago

It’s very clear to anyone with any sense, that we are in big trouble because of this man. When they try to push how great he is, I want to say yes he’s great, GREAT AT DESTROYING THE USA and what are forefathers worked so hard to build. He’s done nothing but make things worse, because of hatred for a man. Hatred and Jealousy is destroying us as a nation. Wake up people! Stop letting the stupid run this country, even a pack doesn’t put the weakest and the stupidest in charge, we are seeing a lot of them following this man.

Charmaine
Charmaine
1 month ago

What a Total Disgrace our Government has become. They ALL need to be fired with term limits out into place for every one of them I think it was back in the eighty’s that term limits were to be on the ballot, but that didn’t happen because the democrat party convinced Too Many Voters that there had to be Experienced Idiots running the country. Unfortunately we all know how that turned out. So Sad to see what this Great Country is coming to

Jodi
Jodi
1 month ago

We The American People do NOT need nor want Joe Biden as our president in 2024. He cheated to win in 2020. I know there are a lot of Americans that want Trump as our president. No more Joe Biden.

NeilRK
NeilRK
1 month ago

The Constitution says only Congress can make law. Who is going to stand up and say presidents executive orders and department or agency rule making, making law is Un-Constutional, null and void? We need a conservative lawyer to take the issue to the Supreme Court.

Jim
Jim
1 month ago

2nd paragraph of our Declaration of Independence gives us, U.S. American citizens the authority to alter or ABOLISH government that tries to destroy our God given freedoms and our Life, Liberty and the Pursuit of Happiness. The federal government and the unAmerican traitors now running OUR government are our worst enemies. The Republicans have no spine and the democrats have become evil communists.
America is very close to a shooting revolution if we want to keep our Constitutional Republic. Sorry to say there will always be “poor people” because that’s humanity, but, America has created avenues to escape poverty if you get off your lazy butt, and work to take advantage of the opportunities America offers. Did you know there are more than 87 federal welfare programs and most of them destroy family life and the personal drive to get ahead. America has become a welfare country and cannot survive as such.

Wayne
Wayne
1 month ago

I live in an all electric retirement home in Lyons, IL. The solved the electric heating problem by cutting back on the heat. Saves them money but we freeze in the winter.

Robert Zuccaro
Robert Zuccaro
1 month ago

2.0? Is that his current IQ number? Or of the ppl who vote for him?

uncleferd
uncleferd
1 month ago

“President” Biden started his political career supporting unions, under his father’s influence, in a liberal enclave. Due to his focus on that single interest group, he has no idea what it means to be a real politician.
Biden has always been a filthy, dishonest, self-serving, deadbeat, who lied his way through elections while relying on union money. We don’t need four more years of lies, obfuscation, and general misconduct. What we do need is a future without this unworthy, disgusting, un-American punk.

Chris
Chris
1 month ago

Serves us right. Reference 2020 and 2022 elections. Also many more before. I am 70 years old, soon to Croak. Hopefully sooner than later. CHRIS

Robert Zuccaro
Robert Zuccaro
1 month ago

Better not tell Joe the polls are against him; he might declare war on Poland!

Fredrick
Fredrick
1 month ago

Better a civil war than a secound Biden term!!!

BruceM
BruceM
1 month ago

A second Biden term, replete with the Kamala, Karine and Alajandro? When I contemplate this, I find myself slipping into depression.

BruceM
BruceM
1 month ago

A second Biden term, replete with the Kamala, Karine and Alejandro? When this enters my thoughts, I find myself slipping into a depression.

kit
kit
1 month ago

biden has got to go.

charles miley
charles miley
1 month ago

this is about par for the republican party the chance to take it all and all they talk about is a blue wave.pathetic.

John Shipway
John Shipway
1 month ago

A second Brandon term would speed up the ongoing rapid ending of the nation but with him gone the nation is lost regardless. The social order has collapsed, the rest of the world is finally waking up to the paper tiger nature of the “shining beacon on the hill”, and are fleeing from having anything to do with the drowning swimmer called America.
Too late folks. Can’t run an anarchic country that backs its currency with lies about “good faith and credit”. And basically has been living off continual contrived conflicts since WW2 which, if one researches “The McCullom Memorandum”, may have been little more than yet another contrived conflict of our own making.

ray
ray
21 days ago

stop giving biden credit. its the hidden unelected peple in the back rooms of all cabinet offices, and congress is the biggest offender for not taking control. just saying it won”t pass and not voting is giving the victory to the dems.

carl
carl
26 days ago

I worry about mail-in ballots W/O signature verification

ALLAN TERReY
ALLAN TERReY
28 days ago

Perhaps the scariest thing to expect from a second term for Joe Biden would be a Central Bank Digital Currency (CBDC), giving federal officials control over every citizen’s financial transactions. This is already happening in other nations. Joe Biden will try to sell a CBDC based upon (a) making “the rich” pay more taxes, (b) saving the costs of printing currency and minting coins, and (3) making sure nobody gets paid under the table to evade taxes.
What would a CBDC mean? (1) The feds could cancel or drain anyone’s bank account. (2) They could block your donations to any organization, whether your church, AMAC, the NRA, political parties, or your favorite charity. (3) They could prevent your purchase of anything they wanted to ban, like gasoline-powered vehicles, firearms, even propane grills. (4) They could use their leverage to force compliance with whatever totalitarian edict they wanted, like forcing you to surrender your guns and gold. (5) After they took your digital money you could quickly see your car repossessed or your house taken for nonpayment of a mortgage or property taxes. (6) You couldn’t even pay your utilities, buy food, or rent a motel room.
Don’t say this couldn’t happen. It is already happening. Biden, Pelosi, AOC and global elites want total control of your life and private property. I bet you didn’t think what has happened the past 3 years could ever occur, but it has.

TOBS
TOBS
1 month ago

LETS GO BRANDON LETS GO BRANDON LETS GO BRANDON LETS GO BRANDON

Valerie Derendinger
Valerie Derendinger
1 month ago

Joe Manchin is not from Pennsylvania.

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