Trump's Economy or Biden’s Economy - which version is better.

[exstasie]

What "overall taxes"? Their income tax share is about 40%. They do earn ~20% of all income so that basically reflects a ~2x higher bracket.

I don't know what else you include there or if you just made it up, but if it's something ludicrous like property tax or sales tax... well, duh. There is also a payroll tax cap at ~$130k and capital gains loophole. 1%-ers are not struggling and it's not "unhonest" in any way. It never made sense to me that wages are taxed at a higher rate than capital gains - it's a subsidy for people who don't really need it.

Very true. Why somebody should get taxed more for earned income (selling their labor) than unearned income (capital gains) is beyond me. There's really no rational explanation except that it's a direct subsidy to the rich.

Those who already own capital simply get taxed at a lower rate.

[verita1]

It is not an easy choice.

If I had the opportunity to vote in the USA, I would vote for Biden because now the USA needs a President of the consensus who listens to his executive cabinet and all citizens. I think Americans have lost confidence in Trump because of all the mistakes he has made and they no longer tolerate the social problems that afflict them.

[Shasha80]

In my opinion, the two of them made too many promises, which in reality were only few that were realized. Therefore, most Americans
do not believe in politicians, who in fact are more selfish. Based on political developments in America that I know, the American population
has lost faith in Trump. So the possibility of Biden being lucky in this case, I personally really like Biden's agenda until now.So in my opinion,
Biden should be given the trust to lead America.

[jaysabi]

As we enter the final phase of the elections both the candidates have presented two very different approaches about how they wish to shape US economy.

Trump's version should be known by all as he’s favouring Make in America, offering to cut more corporate taxes, continue his trade war with China, and promote Private sector in US.

Biden on the other hand is keen to invest in public sector, fight inequality, make peace with allies and restore the trade deal with China, and further he intends to abide by WTO, and join back WHO.

As you can see both have a very different point of view for US economy, and whichever candidate wins it’ll definitely effect the global economy too. However if you had a chance to pick one version, and reject the other which one would one would you choose and why?.


https://www.barrons.com/articles/biden-vs-trump-on-the-u-s-economy-51600186881

I will definitely still support Trump for his next term. Biden's point of view is that he wants America to have a more civilized lifestyle, a greener environment, and he focuses more on people. and for Trump, he is a leading economist and can solve many economic problems for America so that they can be great again. Mr. Trump has been doing a really good job, he's growing the American economy to astonishing levels. In my opinion, Biden is no different from President Obama's version, he won't be as good economically as Trump.

Trump is not an economist and hasn't done jack for the economy. He inherited a recovering economy that was already healthy and managed not to screw it up in spite of decimating tax revenues and pushing the deficit far past a trillion dollars a year when the economy was booming. That's debt that has to be paid back with interest so that the rich could get another tax cut they didn't need. He's running the finances of the country like he runs the finances of his businesses- straight into the ground. There's a reason he's declared bankruptcy so many times.

[bryant.coleman]

Very true. Why somebody should get taxed more for earned income (selling their labor) than unearned income (capital gains) is beyond me. There's really no rational explanation except that it's a direct subsidy to the rich.

Those who already own capital simply get taxed at a lower rate.

This is so ridiculous. Capital gains are taxed at a lower rate, because of two reasons:

1. The money that goes in to investment in shares/real estate have been taxed once.
2. The government doesn't compensate for capital losses. Only capital gains are taxed, while capital losses go unreimbursed.

And some people do have an assumption that only the rich go for investment in shares/real estate. Nothing can be farther from the truth. The vast majority of the investors are from the middle-class. If the tax rates are increased, they will simply keep the money in their account and the economy will collapse.

[suchmoon]

1. The money that goes in to investment in shares/real estate have been taxed once.

Only gains are taxed. The original investment is not taxed the second time.

2. The government doesn't compensate for capital losses. Only capital gains are taxed, while capital losses go unreimbursed.

That's not quite true, not in the US anyway. Taxes are paid only if there is a total net gain for the year. If there is a net loss it can be used to reduce to overall taxable income. This is limited to a certain amount but it can be carried over to subsequent years.

And some people do have an assumption that only the rich go for investment in shares/real estate. Nothing can be farther from the truth. The vast majority of the investors are from the middle-class. If the tax rates are increased, they will simply keep the money in their account and the economy will collapse.

Given a 5-8% annual gain for a typical middle class long term hodler I doubt that a tax increase reducing it to ~4.5-7% would deter them, not to mention that e.g. 401k disbursements are not eligible for capital gains rates anyway.

[exstasie]

Very true. Why somebody should get taxed more for earned income (selling their labor) than unearned income (capital gains) is beyond me. There's really no rational explanation except that it's a direct subsidy to the rich.

Those who already own capital simply get taxed at a lower rate.

This is so ridiculous. Capital gains are taxed at a lower rate, because of two reasons:

1. The money that goes in to investment in shares/real estate have been taxed once.

When you sell those shares/real estate for profit, you have received new income which has never been taxed before. Why should it be taxed at a lower rate?

The government doesn't compensate for capital losses. Only capital gains are taxed, while capital losses go unreimbursed.

The government also taxes your paycheck, but if you lose the money, they don't reimburse you. How is that any different?

Of course the government shouldn't reimburse you for making crappy investments, any more than they should reimburse a gambling addict who blows his paycheck at the casino. In both cases, money was lost. In neither case should one of the taxpayers be subsidized so the other is at a disadvantage.

[el kaka22]

Quite interesting to see the amazing arguments about how "1% pays 80% taxes" (they don't) and how "trump because he has experience and vision" and basically nothing more, these are either bots, Russian helpers, or basically just moron Americans, thankfully I am not American but if I were, it would be soooooo easy to prove these wrong.

First of all 1% say they pay for 80% of the taxes, they avoid taxes, they get penalty for not paying it, then Trump cut 2 trillion dollar tax debt all over again, so as you can be 1% do not pay 80%, they do not even pay 50% of the taxes in entire USA, plus federal taxes for huge companies like amazon, facebook, google, wallmart doesn't even exist, they do not pay a single cent. Experience is something nobody can deny Biden has, dude has been in politics for 40+ years and did VP as well for 8 years, I will take that over some tv host.

[bryant.coleman]

Given a 5-8% annual gain for a typical middle class long term hodler I doubt that a tax increase reducing it to ~4.5-7% would deter them, not to mention that e.g. 401k disbursements are not eligible for capital gains rates anyway.

Some of the losses can be carried forward, up to 3 years. But what if the individual doesn't invest in any stocks for the next 2-3 years, or he remains at a loss? Investing in the stock market involves a huge amount of risk, and that is the reason why the tax rates are lower. If the tax rates are sky high, then what prevents the same individuals from purchasing bullion instead of stocks? The only difference is that bullion investment doesn't benefit anyone other than the investor. However, investment in stocks spur job-growth and a growth in indirect tax revenue for the government.

[Gozie51]

But most importantly - I don't think Trump can bluster his way out of the recession. This requires actual work and preferably a boring president who doesn't feed on daily twitter drama.

I think the social media has been trump weakness too because he has given more time to Twitter than really tackling the real challenges. The health sector is not what it used to be during the Obama administration. I can't predict how the election will turn out but Trump need to boom the American economy and leave chasing shadows on Twitter.

[suchmoon]

Given a 5-8% annual gain for a typical middle class long term hodler I doubt that a tax increase reducing it to ~4.5-7% would deter them, not to mention that e.g. 401k disbursements are not eligible for capital gains rates anyway.

Some of the losses can be carried forward, up to 3 years. But what if the individual doesn't invest in any stocks for the next 2-3 years, or he remains at a loss? Investing in the stock market involves a huge amount of risk, and that is the reason why the tax rates are lower. If the tax rates are sky high, then what prevents the same individuals from purchasing bullion instead of stocks? The only difference is that bullion investment doesn't benefit anyone other than the investor. However, investment in stocks spur job-growth and a growth in indirect tax revenue for the government.

The point is that at least some investment losses can be compensated. Also business losses. If you're earning wages you're at a significant disadvantage compared to many other kinds of income, due to higher tax rates, inability to write off loses/expenses, additional payroll taxes, etc.

It's incorrect to classify all investments as "huge risk" or income tax rates as "sky high". The difference is 10-15 percentage points and that's enough to create all sorts of loopholes for e.g. restructuring income as qualified dividends to take advantage of lower rates. No risk, all reward. These tricks are generally out of reach for the middle class. And equalizing tax rates would not make stocks less appealing than other types of investments, most of which are also taxed the same way.

[fiulpro]

How about : None?
Honestly I am not even bothered what both if them are writing , they will of course write things like that when the election days are near but at the end when it comes to actually working out these problems most of the time, it goes downhill.
Joe biden of course used words strategically but I do think the accusations that he is corrupted should be addressed first.
Trump should never be the option , he is not fit to be a president , he actually uses his Twitter account like a 5 year old , no doubt it's hilarious reading his tweets but at the same time the orange man needs some professionalism , at the same time don't ever believe what he says , what he did with Mexico was unforgivable , kids were orphaned , parents forced to flee , the situation in these Modern concentration camps is something that's not even humane. The guy committed a crime , these detention centers should never be made in the first place. I don't see any reason why someone should even consider voting for Trump.

[sheenshane]

But most importantly - I don't think Trump can bluster his way out of the recession. This requires actual work and preferably a boring president who doesn't feed on daily twitter drama.

I think the social media has been trump weakness too because he has given more time to Twitter than really tackling the real challenges. The health sector is not what it used to be during the Obama administration. I can't predict how the election will turn out but Trump need to boom the American economy and leave chasing shadows on Twitter.

It seems he was very active on that social media.
Well for me, Press Trump is in between considering people who were born with silver-spoon and people who have works hard to achieve their financial freedom and power. In business, it is always more scalable to speak with the people with established wealth rather than who are still striving to get there. If I would be Trump, I will barely decide which are the best.

Good execution and long term investments have a major difference that is very vital. The time and the process.

[Hydrogen]

Trump has miles of boats organizing victory parades for him. That has to count for something. And who are these mystery boaters, one might wonder. Are they russian agents? Nope. They're americans who saw their health insurance premiums double or triple under obamacare which was passed when Joe Biden was Vice President of the country alongside Obama.

Most don't follow current events closely enough to know what is truly happening in the world. Trump has done a lot of good for his country as President. While Biden has been in office near to 50 years and no one can remember a single good thing he has done.

[worldofcoins]

I don't prefer to discuss governmental issues I simply disdain them.
I realize we should offer our input concerning the best politician yet for me all the politicians are trick all the need charges from their resident.
Bitcoin and digital currency can beat the government since its decentralized and tax-exempt.

[415jeremy]

Biden's economy is more attractive for average citizens (=most of Americans). And, of course, the top 1% of the USA population will consider Trump's economy as a better version.

[Yatsan]

We cannot further say on which version is the way better than the other between Trump and Biden for we are talking about the election campaign on which for sure they would like to impress the people and gain them as constituents to support them on the upcoming election day. Well, that is pretty normal in politics to gain people's hearts to get their votes right straight into their names. Practically speaking upon reading the agendas, it is a lot more obvious that Biden have a big perception and plans when he become the new president which is impressive compared to Trump that will still insist to continue what his administration have started with. Looking upon those agendas, it will look like Biden have a great plan to implement it on his administration but will it be more likely to be achievable or just a statement to get people's support for the election. Either way, the betterment between the two will just be witnessed right after the election and once one of them is already situated in the position as the reigning president or the newly elected one to implement their agendas for the sake of their own country.

[tvplus006]

I noticed that the election result is of concern to everyone in the world, as it is directly related to the stock market, and therefore to the cryptocurrency market. But regardless of who wins, we are all going to have a hard time, because the economy is pumped to the limit and in any case it is waiting for a downturn.

[The Sceptical Chymist]

which version is better

It's subjective.

Well, yeah.  And I'm no fan of Trump, but you certainly can't say that the economy has suffered in the last four years of his administration.  Of course, he came into office in the middle of a bull market that hasn't yet run its course, so I'm not giving him all the credit for that.  He also knows a lot about finance and business, and I'm not sure what exactly Biden knows or if he's even fit to lead the US.  This election really, really sucks--just like the last one, actually.

Personally I am in favour of reducing inequality, particularly inequality of opportunity.

What inequality of opportunity?  Companies are falling all over themselves trying to hire anyone who isn't a white male.  There's never been more equality of opportunity for historically oppressed groups, but it's up to them to take advantage of that opportunity. 

And how can you help it if you were born into privilege?  That notion of "privilege" has been blown so far out of proportion in the past few years that it makes me nauseous. 

All the SJW BS aside, I hate to say it but I think Trump would be better for the economy, but he's a horribly divisive president and I don't think the country can take another four years of that.  Just look at all the protests taking place all over the US.  The left might not be entirely correct about Trump, but they're not entirely wrong either. 

Can't wait for the debate!

[samcrypto]

I noticed that the election result is of concern to everyone in the world, as it is directly related to the stock market, and therefore to the cryptocurrency market. But regardless of who wins, we are all going to have a hard time, because the economy is pumped to the limit and in any case it is waiting for a downturn.

Because USA is a world great leader and who ever won the election, people are relying to them especially my poor country. The election is crucial considering the situation right now, and they have both good and bad agendas, people of the USA knows better so I trust them to vote who’s right to win and who they think can help USA stand strong again, I’m rooting for a good US Economy.