To commemorate his 100-day tenure as president, Joe Biden presented a proposal to bring the top tax rate for the richest 1% of the population back to 39.6%, restoring the value that was practiced during the George W. Bush presidency and opposing Trump, who lowered the rate. up to 37%.
Biden justifies this measure, arguing that he will contribute to funding a number of others that are part of his recovery plan and are based largely on supporting the American middle class, giving him a clear idea of what economic and political policy priorities should be. In addition, he announced that he intends to increase corporate income tax (equivalent to our IRC) from 21% to 28% in order to increase capital gains and inheritance taxes.
This policy represents a clear break with previous political discourse based on the idea that those favorable to Americans would be taxed less.
Like most Americans, Biden is mostly pragmatic. He is not afraid to assume that he has a problem and that it should be attacked with all available means, even if they contradict what the average American is trying to defend, such as government intervention. Perhaps this iconoclasm is the basis of the current unexpected wave of support for his Keynesian politics, which even the most liberal commentators have been able to test.
Biden teaches the world in general and Europe in particular a lesson in political economy, laying the foundations Welfare stateso purposefully drowned out by years of persistent repetition of the ideals of liberalism. ABOUT American family plan restores, in all letters, the primacy of the welfare state, defining a set noble goods what modern government is obligated to provide.
Its commitment to free childcare and tuition fees, sick leave subsidies and family support, tax incentives for parents, in addition to rebuilding destroyed public transport and creating public housing, demonstrate a recognition of the importance of the family as an economic engine. rebuilding both labor and the driving force of demand.
In the antipodes of Trump, it is revealed once again that he humiliated every American citizen, seeing him as a victim of a system in which he himself acted at his own will and took advantage of the advantage to achieve success, inciting hatred against differences in order to mask his inefficiency. problems with which he was chosen to fight.
Following Roosevelt’s path, the new vision of American politics combines traditional public investment in physical capital with investment in human capital where it is needed most. So this is a middle-class revival plan that finally has the courage to suggest that inequality should replace inflation as a macroeconomic policy priority. The plan is so unusual that Biden is most likely pursuing the reforms that the more radical Bernie Sanders would like to carry out, or, even more likely, that Bernie Sanders would not have had a sufficient political framework to carry it out.
In his attempt to restore the image of the United States as a world leader serving as a model country, Biden goes further, daring to propose an international development plan that includes the abolition of vaccine patents to ensure international immunity. a proposal that was looked upon with curiosity with suspicion on this side of the Atlantic).
This side of his project is perhaps too ambitious, because with political circuits that he does not control so well, but this is the plan of those who admit that they only lead when the well-being of economic partners is guaranteed. This reflects the perception that America’s dynamics will also be highly dependent on global demand, which will only be fully satisfied when the planet as a whole returns to normal.
ABOUT time in which it happens when India is facing a very serious health crisis as a result of Covid-19, it also demonstrates sensitivity to the importance of Asia in the dynamics of global growth in the coming decades, once again contrasting with its conflicting predecessor and setting, in a significant way, an example to the world.
What’s praiseworthy about Biden is exactly what is by default a sin on the old continent. Europe continues to be shy when it comes to deepening a bold old plan that was confirmed 71 years ago by the Schumann Treaty and laid the groundwork for its integration project.
With a lack of perspective and pride, Europe seems to forget that the strength of its supranational project lies in promoting the well-being of its citizens. Given the historical uniqueness of the moment he is experiencing, perhaps this time his superiority could be shown by showing humility to learn the lessons that come to him from the other side of the Atlantic.
