Economists: Biden's Economic Agenda Could Cost Georgia Families $3,900 Per Year
Georgia residents are being warned that if they don’t vote for Republicans David Perdue and Kelly Loeffler in the Senate runoff election, a potential Joe Biden administration could cost each household almost $40,000 over the next decade.
Therefore, it’s imperative that Georgia sends Perdue and Loeffler to Washington to ensure the GOP retains control of the upper chamber of Congress.
According to a new study by the Committee to Unleash Prosperity, five components of Biden’s socialist economic agenda would result in a “Georgia tax” that would cost each family more than $3,900 a year for the next 10 years.
Economist Stephen Moore, the co-founder of CUP, said a potential Biden administration would cause Georgia to lose jobs and become poorer.
“Georgia has been out of the 10 fastest growing states over the past decade thanks to pro-growth policies, including low taxes and low cost of living compared to other states,” Moore remarked in a statement.
“The Biden plan reduces these competitive advantages by forcing Georgia to adopt the same liberal policies that have been tried and failed in states like New York [and] California.”
The Committee to Unleash Prosperity said these five Biden policies will decimate Georgia’s economy:
- Abolition of right-to-work laws
- $500 billion federal bailout of blue states
- Elimination of the cap on state and local tax deductions on federal tax returns
- Anti-fossil fuel policies/expensive green energy mandates
- $15-an-hour federal minimum wage.
Georgia is a right-to-work state, which means no employee can be forced to join a labor union as a condition of employment.
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If Biden gets installed as president, he would rescind Georgia’s right-to-work law, which has brought tens of thousands of jobs to the Peach State.
“The net cost to Georgia over the next decade would be $151.3 billion at an annual cost of $3,900 per family,” a release from the Committee to Unleash Prosperity said. “This is more than most families will receive from the recent “Stimulus” bill in Washington.”
CUP said Georgia would be one of the biggest losers if Democrats won control of the Senate and the White House.
“Georgia ranks the third largest loser state from the Biden ‘tax’ on economically productive states,” CUP said. “Only Texas and Florida would lose more income due to these interstate redistribution policies.”
Over the past few decades, Democrats’ disastrous policies have decimated the economies of liberal states.
Research shows that states controlled by Democrats consistently have the worst economies. According to a 2019 American Legislative Exchange Council study called “Rich States, Poor States,” states run by Republicans have the strongest economies.
In 2019, eight of the top 10 state economies were run by Republican governors. In contrast, nine of the bottom 10 were run by Democrats, according to the report.
After destroying their economies with unscientific coronavirus shutdowns and imposing draconian restrictions on Americans’ civil liberties, Democratic governors and mayors now want taxpayers to bail them out of their self-created financial hellholes.
If Biden gets installed in the White House and the Democrats win control of both chambers of Congress, your taxes will soar while your personal freedoms are crushed.
This article appeared originally on The Western Journal.
