Study Reveals What Biden’s Tax Hike Will Do To American Jobs In The First Two Years

President Biden’s tax hike plan would cost the American economy one million lost jobs in the first two years, according to a study from the National Association of Manufacturers.

The study, released Thursday, details the long and short-term damage to the economy inflicted by Biden’s tax hikes and repeals of Trump’s pro-manufacturing policies. . .

The study, authored by Rice University economists John W. Diamond and George R. Zodrow, calculated the effects of increasing the corporate tax rate to 28%, increasing the top marginal tax rate, repealing the 20% pass-through deduction, eliminating certain expensing provisions, and taxing capital gains as ordinary income for individuals earning $1 million or more.

They found that the U.S. would lose one million jobs in the first two years, GDP would be $117 billion lower by 2023, and ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023. (Read more from “Study Reveals What Biden’s Tax Hike Will Do To American Jobs In The First Two Years” HERE)

Delete Facebook, Delete Twitter, Follow Restoring Liberty and Joe Miller at gab HERE.