Rapper turned actor 50 Cent broke the internet just this week with his tongue and cheek endorsement for Donald Trump’s reelection in the November 2020 elections. His main motivation for his supposed turn was releasing the hypothetical tax rate by state should Biden secure the presidency. The rate for his home state New York was an audacious 62% that most likely did not bode well for the largely indebted artist should he choose to stay in his hometown. While 50 Cent might have gained the ire of fans, followers, and Democrats alike for his obvious trolling, he definitely raised questions as to what living under Biden would be like and, from certain standpoints, would it truly be superior to the four years the United States has spent under Trump.
According to New York Times analysts, that 62 % tax rate that so frightened 50 Cent would only apply to top earners, which means only millionaires, billionaires, and large companies would be allegedly affected; however, this was not the case in Obama’s presidency, which Biden takes many cues from, where the middle class was the target of tax increases. Seemingly taking a note from Bernie Sanders’ playbook, these tax hikes would then reportedly be used to provide economic stimulus to the millions of Americans left financially worse off due to COVID-19. While some have speculated the policy would scare off job-creating companies, others see his policies as helping the country’s GDP growth by the end of his run.
When it comes to social issues, Biden has been outwardly very supportive of minority groups in modern times. Though his stance on Trump’s Platinum Plan is unknown, one imagines he will expanding on existing initiatives that also lead to investment in minority communities, perhaps even rolling back bans on transpersons from the armed forces. Should there be defunding, it would undoubtedly be at the border where Trump has doubled down security. The left has been largely critical of ICE’s tactics to curb illegal immigration, so Biden will most likely have to bend to their will in order to secure their growing millennial voter base.
Biden will most likely successfully repair relations with western nations and China due to his fairly neoliberal view on free trade agreements, his wish to end the trade war with China, and respect for multinational organizations like the United Nations. His occupancy would most likely be a welcomed change by nearly every European leader. It is the Middle East that may view it with suspicion as Obama was notorious for drone programs and expansion of wars, while Trump has more or less kept true to his pulling out of troops from the region.
