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Sunday, July 12, 2020

Joe Biden Supports 2 Regulations That Would Destroy Entire Industries—and My Job

Excerpt (the whole post can be read here):  

The New York Times reports that investors are growing alarmed over Joe Biden's rise in the polls. Some worry that his promised massive tax hikes and sweeping regulations could spell doom for the stock market and hurt business more broadly. However, it's not just stockbrokers on Wall Street and 401k holders relying on the market for retirement who should be worried.

Joe Biden's regulatory platform would eliminate entire industries and therefore millions of jobs—including my own. Supposedly, the appeal of Biden's presidential campaign is a return to stability. Yet his platform includes endorsements of radical regulations that would undermine the economy as we know it.

Biden's support for job-killing regulations extends beyond independent contracting and the tech industry to many other walks of American life. The candidate's wrong-headed agenda reminds us of a stubborn lesson big government advocates rarely seem to learn: Unintended consequences will always plague sweeping mandates put together by politicians and bureaucrats huddled together in the nation's capital hundreds of miles away from the on-the-ground realities of the jobs they're regulating. 

The lesson is clear: pure intentions do not necessarily result in positive outcomes.

"It's not enough... to endorse legislation that has a nice title and promises to do something good," economist Robert P. Murphy also wrote for FEE. "People need to think through the full consequences of a policy, because often it will lead to a cure worse than the disease."

And elections are no exception. If the American people let Joe Biden have his way with our economy, there will be unintended consequences—that could cost you your job.

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