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The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
The Biden administration also wants to deny tax deductions for employee compensation above $1 million, quadruple the stock buybacks tax to 4%, eliminate certain tax subsidies and crack down on tax ...
“Biden proposes 44.6% capital gains tax, from current 19%. Can’t even come up with his own ideas taking a page out of Trudeau playbook who raised Canada to 66%,” he wrote in a recent post on X .
Student loans. One of Biden’s signature promises when elected was to help reduce the student debt burden carried by Americans, which today totals roughly $1.6 trillion dollars.In the summer of ...
A different perspective using gross income rather than AGI appears in work by Leiserson and Yagan (2021) published by the Biden White House. Leiserson and Yagan estimated that the average federal effective individual income tax rate paid by America's 400 wealthiest families was between 6 and 12 percent with the most likely number being 8.2 percent.
* The COVID-19 pandemic and the Great Resignation had a dramatic influence in statistics presented, including a sharp increase in unemployment rate at the time of changes from Trump to Biden. Annualized change in unemployment rate over each presidency from Truman to Biden, ordered from best-performing to worst-performing economic performance.
President Joe Biden during a Tuesday speech said that it was "stupid" of him to have not signed COVID-19 stimulus checks that went out as part of the American Rescue Plan, contrasting himself with ...
Under Biden, the same index has risen from 13,197.18 on the day of his inauguration to 16,315.70 as of close of market on March 26, 2024, a rise of 24 percent. Grocery Prices