In this study we analyze six components of President-elect Joe Biden’s economic agenda and find that those policies have substantial negative effects on the state of Georgia. The main impact of the Biden agenda is to redistribute income and wealth from Republican-led red states, generally in the South, to Democratic-run blue states, mostly in the Northeast and the West Coast. These policies include a higher national minimum wage rate, abolition of right-to-work laws, “green” energy mandates, bailing out primarily Democrat-run states and cities, and repealing several key components of the TCJA, including the cap on SALT deductions. When we add to these redistribution policies the cost to Georgia families of the proposed repeal of the Trump tax rate reductions on individuals and businesses, we estimate that over the next decade these policies will cause the average Georgian household to lose approximately $6,189 annually in a combination of tax increases and lost economic activity.
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Joe Biden’s “Georgia Tax”: Progressive Policies Will Cost the Average Georgia Family Over $3,900 Annually
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