The Democratic Party’s movement to the far left is nearing completion with the selection of alleged Democratic presidential candidate Joe Biden from Senator Kamala Harris, D-Calif., As running mate on Tuesday.
She truly is a San Francisco Democrat who assumes increasingly intrusive government rules, mandates, and taxes are never enough.
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Her candidacy for the 2020 Democratic presidential nomination in 2019 (she dropped out in December) demonstrated that she had neither the convictions nor the backbone to counter her party’s adherence to socialism.
Here, she will be a collaborator, not a resistance.
Harris was born in Oakland, California. What happened in the San Francisco Bay Area: Suffocating taxes, below average schools, increasing crime, increasingly unaffordable housing, increasing homelessness accompanied by aggressive begging, Feces on the sidewalks, destructive hostility to small business, an endless array of turmoil, rules and mandates – is a chilling pattern of what lies ahead for the rest of America if the Biden-Harris ticket wins.
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The US economy will experience a period of debilitating stagnation. Here’s why.
Taxes will increase dramatically. The highest tax rates on many high-income earners, for example, will exceed 50%, hampering the creation of capital.
The capital gains levy will reach levels not seen since the 1970s, a terrible decade for innovation and productive investment (it was only when the rate was cut that American high tech began to bloom).
What happened in the San Francisco Bay Area: Suffocating taxes, below average schools, increasing crime, increasingly unaffordable housing, increasing homelessness accompanied by aggressive begging, Feces on the sidewalks, destructive hostility to small business, an endless array of turmoil, rules and mandates – is a chilling pattern of what lies ahead for the rest of America if the Biden-Harris ticket wins.
Their higher corporate taxes will start sending businesses and capital overseas, hurting American workers and hurting American industry.
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What the Bidens and Harris’ of the world cannot comprehend is that without vigorous private sector investment, the economy is going nowhere but down.
On health care, Harris is even more radical than Biden. At one point in her White House run, she came out in favor of Medicare for All (and then backtracked a bit, sort of).
Increased government control over health care will mean rationing care for patients, as is the norm in Europe and Canada. And it will be the death knell for medical breakthroughs that save lives and improve quality of life. Forget about the more sustained advances against cancer and the advances against dreaded diseases such as Alzheimer’s disease.
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Harris, like Biden, is a strong supporter of more regulation. She supports the Green New Deal, which will mean a scourge of corrupt cronyism as Washington distributes multibillion-dollar subsidies and tax credits to privileged suppliers of “alternative” energies, not to mention strangling the only one. really clean and cheap, natural source of energy. gas.
Harris would also bolster the FCC’s efforts to streamline 5G deployment, which would be a boon to China’s aggressive efforts to be the leader in this crucial area. It favors other measures that would hinder the progress of high technology.
KAMALA HARRIS, VP RADICAL PICK OF BIDEN REPORTS BAD NEWS FOR AMERICAN WORKERS, THE ECONOMIC RECOVERY
Harris advocates a national minimum wage of $ 15 an hour, a misguided move that would increase costs for small businesses, let alone make many of them insolvent. This would hamper the creation of entry-level jobs for young people and low-skilled workers.
Experience shows time and again that a bigger government means less room for truly creative inventors and innovators, which means that the standard of living suffers. The domestic repercussions of extinction of hope for a better future could be truly ugly.
And the world will become a much more dangerous place with America appearing to be in terminal decline.
Steve Forbes is President and Editor-in-Chief of Forbes Media.
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