Biden's Election Campaign: An Economic Overview
Since the start of his run, Biden has been outlining an economic agenda since his bid for the 2020 presidential race which is in some ways less dramatic than the policies by other contenders.
The agenda is most definitely progressive and could be highly beneficial to workers and students. It focuses on workers and students rather than the poorest of the poor and avoids any hints at tax hikes for the bourgeois or racial divisiveness. It shifts the economic game to take the government's thumb off the bosses’ side of the scale and put it on the side of workers.
Here’s an overview of Biden's economic agenda:
FREE COLLEGE FOR THE FIRST 2 YEARS: Biden’s rhetoric on this score moves effortlessly between the leftist love of universal programs and the moderate’s belief in education as the greatest engine of economic justice, which elegantly blends 2 schools of progressive thinking.
MIDDLE-CLASS TAX REFORM: Biden sees a tax code that is efficient investors and not workers as highly problematic and calls for higher taxes on the passive income of rich business owners in order to finance other developmental projects like a tripling of the Child Tax Credit and other benefits for the middle-class workers.
REGIONAL INEQUALITY: Biden seems quite taken with the factoid that 75% percent of venture capital goes to just 4 cities. Biden wants to make the people identify him as a man who will make the parts of America “left behind” feel important and boom in economic status. Although Biden hasn’t addressed this point in detail in his speeches, he says he has a plan to do so.
POWER TO THE WORKERS: Biden wants, “laws that allow labor unions to flourish and fight for basic worker protections” and a suite for new kinds of protections that operate outside the scope of traditional union-focused labor law. Biden wants a total ban on non-compete agreements, a suite of measures through which workers can discuss their pay with their employers without the fear of retaliation from their superiors. Biden has constantly also campaigned for a 15$/ hour minimum wage since 2015 he has also put up a strong case for measures against wage theft.
A lot of themes hold these ideas together. They address the economic needs of the working class. It’s not expanding on the welfare state and it doesn’t just target the poorest of the poor. While this program is ambitious in many ways, its budget is fairly modest and can be financed under the rubric of taxing the rich, rather than the European style in which the bourgeois’ taxes are higher but the social services are rather generous. In part, however, Biden is ducking a few topics right about here such as healthcare and climate change.
Democrats have tended to sanction race-neutral policies because statistics show that African-Americans and Latinos are disproportionately poor and the white majority is disproportionately richer, which have the effect of narrowing race gaps.
Clinton's strategy of calling out policies for what they are, helped her win the primaries the last time around and you can see the influence it has had on this election’s previous Democrats as well,( Warren and Booker used these same tactics and policy proposals in their speeches).
Some may say that Biden’s pitch may not resonate with today’s voters, that may not be so as we saw in the 2016 race, education-focused policies outperformed race-focused ones, with minority voters.
Biden’s past decisions such as the vote in favor of the war on Iraq and a controversial bankruptcy bill may doom him later on, but the 2008 and the 2012 elections aren’t exactly history lessons, and his pitch is reminiscent of the one which Obama had.
Reporter: Jovan H