As the 2020 presidential election nears, different organizations are analyzing the proposed initiatives of each candidate. One of those groups looking at the economic plans of both President Donald Trump and former Vice President Joe Biden is Pennsylvania's Wharton School of Business, the President's business school alma mater.
Wharton concluded Biden's economic proposals would create a faster growing economy, higher wages for workers and reduce the national debt when compared to under President Donald Trump. The prestigious business school also found that Biden's proposed environmental and social programs often criticized by the GOP would largely pay for themselves.
The Penn Wharton Budget Model's analysis found that Biden's platform would raise $3.4 trillion in new tax revenue between fiscal 2021 and 2030 while increasing spending by $5.4 trillion. Almost 80% of the increase in taxes would hit the top 1% of earners. https://t.co/zSi2z3cK3D
— CNN (@CNN) September 15, 2020
Richard Prisinzano, director of policy analysis at the nonpartison Penn Wharton Budget Model, said:
"If you got the U.S. on this path, you would lower the debt and raise GDP."
"It is productive spending that Mr. Biden is proposing."
"Joe Biden's economic proposals would create a faster-growing economy, higher wages for American workers & reduce the debt compared to where the U.S. is headed under President Donald Trump, according to new analysis from the University of Pennsylvania's Wharton School." https://t.co/ECIbniGgT0
— JulieStrandlie (@JulieStrandlie) September 15, 2020
Analysis by @BudgetModel finds that Biden's economic plan boosts growth by 0.8%, raises wages by 1.5%, and lowers the federal debt by 6.1%. The part Americans should find shocking is that they can't analyze Trump's plan because he doesn't have one. https://t.co/R2fYGMC4Pu.
— Ben Harris (@econ_harris) September 15, 2020
While their analysis is sound, many people are focusing more on the fact Trump graduated from Wharton.
That fact has long been a bragging point for Trump.
Read more 👉 https://t.co/n6gdswKNMr
OUCH: The Wharton School says @JoeBiden's economic proposals would create a faster growing economy, higher wages for American workers and reduce the debt.
Join our campaign to elect the #BidenHarris ticket here: https://t.co/Vzr7kyUN4M
— Democratic Coalition (@TheDemCoalition) September 15, 2020
And why do poor white people see this and still say Trump.
— Darth Brownicus (@RickVsMoe122) September 15, 2020
Because we completely philosophically disagree at our core with a leftist economic model.
— Nate Ridgeway (@nateridgeway) September 15, 2020
So tax cuts for the 1% percent with the other 99% paying the bill is a right agenda you support.
— Darth Brownicus (@RickVsMoe122) September 15, 2020
Why wouldn't America want this type of growth and perseverance? Well, because Privilege and Greed supersedes Equality,Unity, Peace and Fairness. That is the Core of the American Dream and the hearts of the White Majority. If it weren't we would have seen it by now ...I think.
— Clara's Boy (@MorganXtra) September 15, 2020
God please let Trump lose.
— RedFoxxy (@RedFoxxy2) September 15, 2020
new analysis from Trump's own alma mater – the University of Pennsylvania's Wharton School – says that Joe Biden's economic proposals will lead to greater economic growth. https://t.co/7x5s8N9hAG via @politicususa
— Sarah Reese Jones (@PoliticusSarah) September 15, 2020
Good! Let the top 1% pay more in taxes for a change instead of getting sweetheart tax breaks at every turn.
— Janna (@Janna_802) September 15, 2020
*top 1% of income receivers. If you're in that income bracket, you're not "earning" anything, your money is.
— Tanner (@atallison) September 15, 2020
The other guy, @realDonaldTrump, has increased the debt by 40%. No new infrastructure. No spending on education and/or health. Where did all the money go? pic.twitter.com/tRPEAGElSE
— Frederick Hollingsworth (@Frederi66857516) September 15, 2020
As of Tuesday, September 15, the 2020 presidential election is 48 days away.
Recent polls find Biden leading Trump. Whether Wharton's analysis hurts Trump's numbers further remains to be seen.
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