Joe Biden’s policies are ruining the economic lives of people across America.
The latest Census Bureau report on income and poverty could hardly have been grimmer.The child-poverty rate doubled.
There was one quirky piece of “good news” for White House progressives obsessed with “income inequality.” The ratio of the total income of the top decile of earners to that of the bottom decile fell — by 10%. We now have an all-time high of 38 million Americans living in poverty.Biden says he’s abandoned “trickle-down” economics.Everyone is getting a smaller slice of a smaller pie. tide that lifts all boats, we now have a falling tide that is capsizing all boats — but the big yachts have sunk more than the row boats.
First, he’s raised taxes on the richest Americans; second, he’s redistributed $1.2 trillion per year of taxpayer money to the poor via anti-poverty programs without any requirements that the recipients work. Free money.It’s simple math. First, every dollar that the government takes in taxes from the rich reduces their incentive to produce.The higher the tax penalty, the greater the disincentive to work.
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