The Kamala Harris administration is expected to continue the policies of the Biden administration, building and extending Bidenomics by adding Marxist principles.
A critical flaw of Bidenomics, which will become more apparent in Kamalnomics, is the failure to recognize that achieving real wealth in the economy requires entrepreneurship. The profit motive drives entrepreneurs to innovate, create new products, and find more efficient ways to meet people’s needs and wants, making life easier. Government transfers, welfare, soft loans, and DEI initiatives cannot achieve this goal. At worst, according to the national industrial policy of the White House, the government will try to encourage entrepreneurs, gambling with the money they have to pay.
President Joe Biden is the first US president to create a comprehensive national industrial policy document, a move similar to the strategy used by China and other communist countries. In these countries, the central government runs its own companies and offers soft loans and other benefits to companies or favored demographics that fit its economic vision.
Biden’s policies aim to address issues like climate change and economic inequality, which are not profit-driven goals. Private companies operate with the primary goal of making a profit, and many still go bankrupt. Companies with other primary goals cannot succeed. However, government companies do not face the same risk of bankruptcy; if they run out of taxpayers’ money, they can only ask for more from the central government.
Industrial policy will also focus on creating “good union jobs.” How did Biden know ahead of time that workers would vote for unions?
It suggests preplanning or requirements for union shops to receive government funding. Ironically, the policy states that this will help the US compete with China. However, competing with China, where the average factory worker earns $500 a month, requires highly efficient, low-waste, profitable companiesānot government welfare masquerading as factories.
Kamala Harris proposed a $10 trillion climate bill similar to the Green New Deal. These policies will not only endanger the country and make life unlivable, but will also hinder its ability to produce goods and compete with China.
Implementing such an extensive and expensive climate initiative would create significant economic strain and disrupt industrial productivity, which is essential to remain competitive with countries like China, where manufacturing costs are lower.
Kamala Harris wants to expand the student loan forgiveness program, which would result in taxpayers covering the college debt of those who take majors like DEI (Diversity, Equity, and Inclusion) and struggle to find work. Calling this “debt forgiveness” is misleading; the government does not forgive loans, and the money used to pay for them comes from taxpayers.
The Supreme Court struck down the Biden-Harris loan forgiveness plan, saying the White House did not have the authority to forgive student loans on a broad scale without Congressional action. It’s no coincidence that Biden has announced plans to dramatically overhaul the Supreme Court, ostensibly to secure a ruling that supports the Democratic agenda.
Kamala Harris is behind the $2,000 a month pandemic check that is sent to most people, regardless of need, and continues for three months after the emergency declaration ends. He also demanded that the Federal Reserve Bank interview at least one candidate of each gender and race or ethnicity for the position of president, instead of only considering merit. Harris supports a $15 minimum wage, but with Biden’s inflation, he may be pushing for a higher amount today.
Under the Family and Medical Leave Act (FMLA) in the United States, employees usually have to meet certain eligibility criteria, including having worked for the employer for at least 12 months and having completed at least 1,250 hours of service in the 12 months before the start of the leave. However, Kamala Harris supports ending the minimum work requirement during the previous year before receiving family and medical leave.
Kamala Harris is a big supporter of the Federal Price Gouging Prevention Act, which is an extreme restriction to a fair market where the government, not retailers, would determine how much they are allowed to charge for a product and how much profit they are allowed to make. They also want to make housing affordable, which means a rent cap or price cap, dictating how much your landlord can charge you for rent or how much you’re allowed to sell your home for.
Unfortunately, Kamala’s socialist policies will be popular with mindless voters who want free money from the government.
