Biden will be signing an Executive Order designed to encourage a “buy America” attitude in consumption. It will consist, largely, of Democrats’ two favorite buzzwords: “eliminating loopholes” and “increased federal spending”.
As with EVERY Democrat-proposed act, this Executive Order will have three primary results:
- Decreased spending power for Americans. Because, in order to support Biden’s plan, Americans’ taxes WILL be raised (that is where the monies for the inevitable subsidies come from), they will have less take-home money with which to purchase goods and services.
- Greatly increased real cost of goods applicable to the “buy American” EO. Why? Because subsidies will be used to create artificially lowered prices to consumers. Artificially, because ACTUAL prices to consumers will be greatly increased. In order to maintain a competitive edge, subsidies will be used to offset the effects of coming re-regulation and re-taxation of American companies. Those subsidies will be funded with Americans’ tax dollars. And those taxes dollars will operate at less than 20% efficiency. So, every $1 in subsidies will require $5 in taxes collected. The net effect will be VAST increases in real costs of goods and services.
- Increased costs of any foreign-made goods. This, too, is part of the coming EO.
President Trump, in HIS quest to encourage a “buy American” attitude, ALSO relied on two favorite buzzwords: “de-regulate” and “cut taxes”; BOTH of which he did.
And we have seen the result: American companies, over the past four years, have, indeed, grown. AND, they have been better able to compete with foreign products. AND, they have been MORE cost-effective to the American consumer. AND, those consumers have INCREASED buying power, because of those two buzzwords’ effects.
In addition, President Trump also designed a tariff program in order to further encourage “buy American” sentiment.
So, we have two opposing ideologies: Biden’s Socialism and President Trump’s Capitalism.
Biden’s Socialism will grow government, increase taxation, decrease buying power of Americans and increase the cost of goods.
President Trump’s Capitalism HAS, ALREADY, shrunk government, decreased taxation, increased Americans’ buying power and decreased the cost of goods.
Which is better for Americans?
It SHOULD be rather obvious.
Unless you voted for Biden.
