To the Editor:
In June of 2019, Mr. Biden told his donors "Nobody has to be punished. No one's standard of living will change, nothing would fundamentally change." Yet after he won the nomination as the only "moderate" in the race, the new world of the coronavirus shutdown, revealed a new candidate who wants to transform our economy.
In May of 2020, he adopted the Bermie Sanders socialist platform, the cornerstone of the command and control of Elizabeth Warren's candidacy and the most radical racial agenda in recent U.S. history.
Housing becomes a right, and no one should have to pay more than 30% of their income for housing. Public colleges will be tuition-free for about 80% of the American people. Student loans are to be expunged, payments are to be capped and eventually forgiven. School lunches, along with breakfast and supper, will be universally free. Health care becomes a right, Medicare for All, no one pays more than 8.5% of their income.
Mr. Biden's public plan is heavily subsidized, with no deductibles and low co-payments. This Medicare option would further inflate the cost of private plans by making them pay more to compensate for the government's underpayment to hospitals and doctors.
The Medicare option would quickly compete and put private plans out of business ... too bad for union gold/platinum health care packages. Commercial banking would be similarly threatened by the new publicly backed post-office banks that will have permanent authority to lend to business.
The Sanders Green New Deal will be implemented in 15 years rather than 10. The mandated subsidies will dictate what kind of energy is to be produced....windmills and solar panels adjacent to most everyone's backyard.
With government for, of and by government, all public servants would benefit, except the police. Think New York-style arrest and release programs. Biden, like Warren wants to end shareholder capitalism and hand business over to stakeholders such as government, environmentalists, unions and communities.
Since 70% of all U.S. stocks are owned by 401(k)s, IRAs, private retirement plans or insurance companies to fund annuities and death benefits, most of us retirees would see our nest eggs depleted. The redistribution of your labor and thrift would not be by taxing and spending but simply by forcing private companies and their employees to share with the myriad stakeholders their unearned share.
Biden's Unity program declares that every significant gap in wealth, health care, housing, policing and education can be blamed on racism.
The answer is reparations, wealth transfers, subsidies, employment and promotion preferences, quotas and a new Federal Reserve mandate to seek racial equity.
Are you willing to endanger the economy and your freedom to end the Trump presidency? If you believe we should all live like Cubans and/or Venezuelans, vote Democrat for the House of Representatives, the Senate and the President.