(TheRedWire.com) – When President Trump took office in 2017, one of his first actions was to reduce regulations. Many economists say that his regulatory cuts were largely responsible for the explosive economy in 2018 and 2019. However, Joe Biden is threatening to undo most of those reversals, increase taxes on businesses and high earners, and subsidize renewable energy and healthcare markets. It could be devastating for the US economy and jobs.
I'll be optimistic and give the Biden administration 6 months before the citizens of our country are ready to "revolt" in response to the massive cost of living increase, tax hikes, loss of jobs, authoritarian policies, increased censorship. https://t.co/kRWMpDufdr
— Bobby Davis (@USPatriot1st) January 18, 2021
Some researchers say that Biden’s actions could cost the economy 4.9 million jobs and $2.6 trillion over the next decade. By 2030, median-household incomes could drop by $6,500. In addition, he wants to eradicate fossil fuel as an energy source. He also plans to cancel the Keystone XL pipeline. Under Trump, America became energy independent for the first time in decades. Now, energy-related jobs could be lost, and America may be forced to rely on the Middle East again to meet its energy demands.
Hold on tight. The next four years could be a replay of the Obama/Biden years and a failed economy that led to the election of Donald Trump in 2016.
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