Biden’s tax and spending plans could dent GDP

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Biden’s tax and spending plans could dent GDP

雅虎金融2021-04-07

President Biden says his “American Jobs Plan” will create jobs and turbochargeeconomic growth. Economists aren’t so sure. Ananalysis of Biden’s planby the Penn Wharton Budget Model finds newspendingon...

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kevinlaisq
·2021-04-08
Please comment and like
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Alfred1007
·2021-04-08
GDP might not be an ideal model to reflect a county economic growth anymore..
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2
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Winkingbear
·2021-04-08
Well Biden is fantastic but this is not correctI think
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oOoHades
·2021-04-08
Please like and comment
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5
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- Skyyukk:
  加油
  2021-04-14
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Longshot
·2021-04-08
Ok
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3
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- ongcjeric:
  Pls like n commenT
  2021-04-08
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- Longshot:
  Ok
  2021-04-08
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FT585
·2021-04-08
?
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4
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Pyron
·2021-04-08
Why?
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2
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janiceyl
·2021-04-08
Are we going to get a leg up
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- Kingkong1234:
  Like and comments
  2021-04-08
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kawa86
·2021-04-08
pls like & comment
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3
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- nicholastsj:
  please reply to comment
  2021-04-08
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MGHuat
·2021-04-08
Like and comment please.
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4
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- nicholastsj:
  please reply to comment
  2021-04-08
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- MGHuat:
  ok
  2021-04-08
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mikelin
·2021-04-08
Good
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- mikelin:
  ?
  2021-04-17
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- mikelin:
  good
  2021-04-08
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- Sorrie2u:
  good or bad
  2021-04-08
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zh273
·2021-04-08
cool
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- Huradelia:
  Please comment and like
  2021-04-08
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- Athousand:
  Done!
  2021-04-08
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xiaobaii
·2021-04-08
Kindly give me a like & a comment please, thank you very much.
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6
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- pal22:
  pls give comment like and comment. thanks
  2021-04-08
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- MySunshine:
  help reply comment
  2021-04-08
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- doky:
  like and comment me too
  2021-04-08
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TraderJo98
·2021-04-08
Oh no
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JaydenSee
·2021-04-08
Pls like and comment
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- JaydenSee:
  sure
  2021-04-08
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- JaydenSee:
  ok
  2021-04-08
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- TraderJo98:
  Comment
  2021-04-08
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XiaTian
·2021-04-08
[難過] [微笑] 看看再說吧……
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- xiaobaii:
  Kindly give me a like & a comment please, thank you very much.
  2021-04-08
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- XiaTian:
  [微笑]
  2021-04-08
  Reply
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- XiaTian:
  [开心]
  2021-04-08
  Reply
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ChiiKang
·2021-04-08
wow
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- Andtendo:
  Wow
  2021-04-08
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Kneesweak
·2021-04-08
wow
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2
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- Lightman95:
  Ya man, like my
  ComMent
  2021-04-08
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Nicholwong
·2021-04-08
Damn
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2
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KenYH
·2021-04-08
Like and comment thanks
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1
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Economists aren’t so sure.\nAnanalysis of Biden’s planby the Penn Wharton Budget Model finds newspendingon...</p>\n\n<a href=\"https://finance.yahoo.com/news/bidens-tax-and-spending-plans-could-dent-gdp-152140927.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/bidens-tax-and-spending-plans-could-dent-gdp-152140927.html","article_id":"1160369765","we_media_id":null,"thumbnails":[],"rights":{"source":"yahoofinance_sg","url":"https://finance.yahoo.com/news/bidens-tax-and-spending-plans-could-dent-gdp-152140927.html","rn_cache_url":null,"customStyle":"","selectors":"article, body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1160369765","pubTimestamp":1617809169,"sourceInfo":{"source_id":"yahoofinance_sg","name":"Yahoo Finance"},"weMediaInfo":null,"summary":"President Biden says his “American Jobs Plan” will create jobs and turbochargeeconomic growth. Econo","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"拜登的税收和支出计划可能会削弱GDP","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"President Biden says his “American Jobs Plan” will create jobs and turbochargeeconomic growth. Economists aren’t so sure.\nAnanalysis of Biden’s planby the Penn Wharton Budget Model finds newspendingon infrastructure and social programs would actually cause a small decline in GDP. If the plan went into effect with all the new spending andtax increasesBiden has called for, it would reduce GDP by 0.9% by 2031, Penn Wharton finds. Wages would decline by 0.7%.\nInfrastructure projectsoften generate a positive return on investment because they improve efficiency and productivity. In the Penn Wharton model, however, GDP drops slightly for two reasons. First, the business tax hikes in the plan would diminish investment. And since tax hikes would only cover part of the plan’s cost, the government would have to borrow to finance the rest. Higher government debt would “crowd out” private investment, which in turn would reduce growth.\nThere are alternative views.Moody’s Analyticsthinks theBiden planwill would “result in a stronger economy over the coming decade, with higher GDP, more jobs and lower unemployment.” That analysis forecasts slightly lower growth the first year the plan goes into effect, since tax hikes would reduce investment right away while the benefits of infrastructure spending would take longer to materialize. But within a couple years, the Biden plan would boost GDP by about 1.5 percentage points, Moody’s Analytics predicts.\nBiden and his aides have been touting the Moody's analysis, claiming the Biden planwould help create 19 million jobs by 2030. There has been some controversy about that. The Moody's analysis predicts the economy will gain 16 million jobs without the Biden jobs plan and 18.6 million (rounded to 19 million) with the plan. So it’s really forecasting the Biden plan will help create 2.6 million jobs over a decade. Biden and several advisors havemistakenly implied the plan alone will create 19 million jobs, vastly overstating its likely impact.\nNobody knows for sure, of course. While Biden has released an outline of everything he hopes will be in the plan, Congress hasn’t yet drafted legislation and whatever passes, if anything, won’t be Biden’s plan exactly. Biden, for instance,wants to raise the corporate tax ratefrom 21% to 28%, but that probably won’t happen because a few Democrats think 28% is too high, and all Dems will probably need to vote for a plan that will get no Republican backing. Democrats may also have to water down or remove some parts of the plan that aren’t strictly infrastructure, such as several provisions on health care.\nVehicles drive along the FDR Drive in New York, part of the city's aging infrastructure, Tuesday, April 6, 2021. With an appeal to think big, President Joe Biden is promoting his $2.3 trillion infrastructure plan directly to Americans. Republicans oppose Biden's American Jobs Plan as big taxes, big spending and big government. (AP Photo/Mark Lennihan)More\nOnce there is draft legislation, there will be more analysis of its likely effects by the Congressional Budget Office and other organizations, along with vigorous efforts by supporters and critics to praise and discredit the plan. If the plan does pass in some form, there will almost certainly be unforeseen economic disruptions during the next several years that change the outlook for how much it’s likely to accomplish. No plan survives contact with the enemy, and that includes well-intentioned efforts to boost the economy.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":341540261,"gmtCreate":1617842795953,"gmtModify":1704703784362,"author":{"id":"3572874548548490","authorId":"3572874548548490","name":"kevinlaisq","avatar":"https://static.tigerbbs.com/329de1199f764a89b7cadf50308e183d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Please comment and like&nbsp;","listText":"Please comment and like&nbsp;","text":"Please comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341540261","repostId":1160369765,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":341559225,"gmtCreate":1617842190067,"gmtModify":1704703773530,"author":{"id":"3570656625926041","authorId":"3570656625926041","name":"Alfred1007","avatar":"https://static.tigerbbs.com/81d8406380cbc0525927f00a9510f2fa","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":2,"crmLevelSwitch":0},"htmlText":"GDP might not be an ideal model to reflect a county economic growth anymore..","listText":"GDP might not be an ideal model to reflect a county economic growth anymore..","text":"GDP might not be an ideal model to reflect a county economic growth anymore..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341559225","repostId":1160369765,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":341564584,"gmtCreate":1617841379748,"gmtModify":1704703756013,"author":{"id":"3566159832938847","authorId":"3566159832938847","name":"Winkingbear","avatar":"https://static.tigerbbs.com/fa59ca544b59fdba57ec5b04668be509","vip":1,"crmLevel":6,"crmLevelSwitch":0},"htmlText":"Well Biden is fantastic but this is not correctI think","listText":"Well Biden is fantastic but this is not correctI think","text":"Well Biden is fantastic but this is not correctI think","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341564584","repostId":1160369765,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":341595693,"gmtCreate":1617839015512,"gmtModify":1704703700849,"author":{"id":"3580357525252052","authorId":"3580357525252052","name":"oOoHades","avatar":"https://static.tigerbbs.com/d7c71a9367d1c7307b367e622fc6b54c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Please like and comment&nbsp;","listText":"Please like and comment&nbsp;","text":"Please like and 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commenT"},{"id":3981944,"gmtCreate":1617836615345,"gmtModify":1680783230530,"authorId":3570092809336734,"author":{"id":3570092809336734,"authorId":3570092809336734,"name":"Longshot","avatar":"https://static.tigerbbs.com/7cad4ddeab0622dd29ed1d7c76c750b8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":341252581,"type":1,"supId":3981939,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":341259589,"gmtCreate":1617835560341,"gmtModify":1704703640609,"author":{"id":"3562726241279787","authorId":"3562726241279787","name":"FT585","avatar":"https://static.tigerbbs.com/734b50619b12425294cb4715814bdedb","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341259589","repostId":1160369765,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":341259823,"gmtCreate":1617835503862,"gmtModify":1704703640279,"author":{"id":"3576876013613112","authorId":"3576876013613112","name":"Pyron","avatar":"https://static.tigerbbs.com/7e63ebad756610d47a61a778ad2dfe41","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Why?","listText":"Why?","text":"Why?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341259823","repostId":1160369765,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":341225889,"gmtCreate":1617835128941,"gmtModify":1704703634021,"author":{"id":"3578391811195027","authorId":"3578391811195027","name":"janiceyl","avatar":"https://static.tigerbbs.com/58784b1661862b7e62ccb64424c97ae7","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Are 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