According to Moody’s Analytics, which President Biden often cites to promote his tax-and-spend agenda, his $6 trillion plan spends $2.3 million per new job created over 10 years.
Said another way: The jobs created by the President’s agenda cost taxpayers $2.3 million per job.
This comes after the left-leaning Tax Policy Center found that Biden’s overall tax plan will raise taxes on 75 percent of middle-class families next year, rising to 95 percent of middle-class families by 2031 – contradicting his pledge not to raise taxes on middle-class families.
As Moody’s analysis shows, the last thing America’s small businesses and working families need is higher taxes to pay for Democrats’ runaway spending: Our economic recovery would add north of 700,000 more jobs WITHOUT the passage of Biden’s multi-trillion-dollar tax hike.
Biden’s Agenda Is a Terrible Return on Investment of Taxpayer Dollars.
- President Biden’s $6 trillion plan spends $2.3 million per new job created over 10 years.
- Moody’s also finds that the economy would add 776,000 without enacting President Biden’s legislative agenda.
- Moody’s quarterly baseline forecast (without passage of Biden’s priorities) projects 13,860,000 jobs created from 2022 to 2031. (Democrats don’t address this glaring problem by promoting Moody’s annual forecast, not the quarterly one that undermines their claims.)
Democrats’ Expanded Unemployment Bonus Is Discouraging Work.
- Federal Reserve Chairman Jerome Powell admitted Wednesday that the unemployment bonus (extended in President Biden’s $1.9 trillion stimulus) that pays more Americans to stay at home than go to work has contributed to a lackluster jobs recovery.
- Appearing before Ways and Means, Treasury Secretary Janet Yellen also admitted that the unemployment bonus is likely discouraging work, saying that “it’s a significant issue.”
- Nearly half of America’s small businesses still can’t fill the job openings they have, forcing job creators to practically beg people to return to the workforce.
Biden’s Tax Hikes Will Hammer Main Street Businesses.
- According to analysis by the U.S. Chamber of Commerce, 1.4 million small businesses will be negatively impact by Biden’s tax hikes.
Even Liberals Admit Biden is Raising Taxes on the Middle Class.
- According to the Tax Policy Center found that Biden’s overall tax plan will raise taxes on 75 percent of middle-class families next year, rising to 95 percent of middle-class families by 2031.