Politics Trump-Biden: Opposing Visions of the Economy

17:05  26 october  2020
17:05  26 october  2020 Source:   rfi.fr

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Joe Biden et Donald Trump s'opposent sur de nombreux thèmes, l'économie en fait partie. © FMM Graphic Studio Joe Biden and Donald Trump are opposed on many themes, the economy is one of them.

Rebuilding the United States, but better, is the agenda championed by Democrat Joe Biden, the former vice president of Barack Obama against incumbent Republican President Donald Trump. The programs of the two candidates are radically opposed on many points, and in particular on the economy.

Faced with Donald Trump , Joe Biden has bent some of his positions on the line of his former Democratic rival, Bernie Sanders. If Joe Biden is elected on November 3, 2020, the wealthiest Americans and big business will pay an additional $ 4 trillion in taxes over the next ten years. Tax revenues will be reinvested in infrastructure, education and social programs, to help poor households and the middle classes.

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One wants to increase taxes, the other to lower them. The tax reforms launched during Donald Trump's first term have mainly benefited companies and the highest incomes. For his second term, the Republican promises tax cuts for households, while remaining rather vague.

Its electoral program includes 50 priorities, but is not very detailed. To revive the economy weakened by the health crisis, Donald Trump intends to create ten million jobs in ten months. But he does not specify how he intends to achieve it. More than 11 million people are unemployed today.

Restore destroyed jobs

To revive the economy weakened by the health crisis, Joe Biden is planning a major public investment stimulus plan that could amount to $ 2 trillion, especially in ecological transition. A job-creating sector.

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Its environmental program is the opposite of the ideas championed by Donald Trump. Joe Biden promises the return of the United States to the Paris climate agreement, from which Donald Trump withdrew in 2017, with the aim of ending carbon emissions by 2050. For y To achieve this, it intends to put in place several flagship measures, such as the construction of low-energy housing, assistance for the purchase of electric cars, but also the switch to electric for government vehicles.

According to economists at the rating agency Moody's, Joe Biden would be in the best position to boost the US economy. According to their calculations, full employment, which disappeared with the Covid-19 crisis, could be back in the second half of 2022 with the Democrat, and only in the first half of 2024 with the Republican.

Priority to national production

Due to the coronavirus epidemic, public health has a large place in the programs of the two candidates. Among Donald Trump's priorities for this second term, there is the repatriation of the manufacture of protective equipment and drugs to the United States and the replenishment of stocks to face possible future pandemics.

For his part, Democrat Joe Biden wants to reduce from 65 to 60 the minimum age to benefit from health coverage for seniors, which would concern 20 million Americans.

Despite this opposition, there is one point on which the two candidates agree: the importance of "made in America", hammered out by Donald Trump throughout his mandate. One would expect trade relations with China to be much the same.

The Daily 202: If Trump wins, these are the 10 most likely explanations for how it happened .
Biden acts like the election boils down to a Pennsylvania Senate race. Joe Biden leads President Trump by 10 points among registered voters, 52 percent to 42 percent, in the final national pre-election poll conducted by NBC and the Wall Street Journal. Majorities of Americans think the country is on the wrong track and disapprove of the president’s handling of the coronavirus pandemic.

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