Biden wins! New Yorkers took to the streets to celebrate... Trump tweeted not convinced


On the morning of November 2020, 11, after four long days of waiting, the vote count for the 7 US general election finally came to an end. Pennsylvania took the lead in turning blue, and Nevada followed closely.Democratic candidate Biden was finally elected as the 290th President of the United States with 46 votes.


Biden's Twitter profile has been changed to "Elected President of the United States."


New York people took to the streets to celebrate

This morning, when various mainstream media announced the victory of the Democratic candidate Biden, the people of New York took to the streets to cheer and celebrate.

Image: NY Times


Times Square was also filled with celebrating crowds.


Picture: Fudi


Congratulations from leaders

World leaders sent congratulatory messages. Canadian Prime Minister Trudeau, Ukrainian President Volodymyr Zelenskiy, and former U.S. President Barack Obama all tweeted congratulations to Biden, and Paris Mayor Ange Hidalgo tweeted "America, welcome back!"


Trump tweeted: I won this election!

When NBC News announced Biden's victory, Trump was still at his Virginia Golf Club.He issued a statement within a few minutes after the announcement, claiming that "the election is not over yet." He also tweeted, "I won this election by a big advantage!"


Trump said: "Our campaign team will start to sue in court next Monday to ensure that the entire election process fully complies with the election law and that the legitimate winner wins. The American people have the right to conduct real elections. This represents us. All legal votes will be counted and there will be no illegal votes."

But when asked, neither Trump nor his campaign has evidence to prove that illegal votes have been counted.Although this request has been repeated for several days, Trump's campaign team cannot provide any reliable evidence of voter fraud.

Georgia is recounting

Georgia announced the recount of votes yesterday and Friday.Still calculating.Georgia Secretary of State and the highest elected official responsible for overseeing the election, Brad Raffensperger told reporters in Atlanta: "Although there is only a small margin of deviation, Georgia will continue to recount the votes."

As of Friday morning, Biden led Georgia with a margin of 1500 votes more than Trump. The changing demographics and strong African-American turnout here have changed what was once considered a Republican vote. Southern states.


Analysis of Biden's 6 major policy impacts

Next, we will start fromChina, immigration, taxation, real estate, medical care, environmental protection policiesThese 6 aspects, to BidenA brief analysis and introduction of possible policies in the next four years.
 
China policy
 
In his attitude towards China, Biden’s current tone is very similar to Trump’s conservative policies:


  • Economics and trade, Biden will continue to pressure China and does not rule outTrade war methodsThe possibility

  • Human rights issuesOn, Biden also maintained "Never let go"Principle, put pressure on China in related fields

  • In economics, trade, politics, etc.International affairs directly related to U.S. interestsLast, Biden claimed that he would work more closely with allies than Trump,Restrict ChinaRole played and current status

  • In environmental protectionInternational affairs not directly related to the basic interests of the United StatesOn, Biden may chooseCooperation with China, But this is just to allow the United States to return to the framework of global cooperation


All in all, China has officially become theBiggest competitor, And Biden will no longer be the "old friend of the Chinese people" in the Obama era in 2008.In the next four years, China should face challenges from the Biden administration in economic, trade, political, and human rights issues.Continuous pressure.
 
Immigration policy
 
If Biden wants to rebuild the friendly attitude of the United States in the international arena, he will reverse the tightening immigration policy during Trump's period to a certain extent:


  • Biden promised in his campaign platform to modernize the immigration system, hoping to help the United States1100 millionImmigrants without legal permanent status, provideWays to obtain citizenship

  • Stop building the U.S.-Mexico border wall, But it’s not clear whether he will demolish the built part

  • May repeal the travel ban for some countries

  • To curb local poverty and violence by providing economic assistance to the countries of origin of immigrants, and strive to reduce the number of immigrants from the root cause

  • Biden has said that he hopes to accept12.5 refugees

  • A decision to overthrow the Trump administration that domestic violence and gang persecution cannot be an effective basis for seeking asylum in the United States


However, Biden takes a positive attitude towards protecting the job opportunities of his country’s citizens.Therefore, although he hopes to increase the number of employment visas issued each year, will heVisa conditionsSome changes that will benefit the employment of our citizens are not yet known.
 
tax policy
 
The main goal of Biden’s tax reform isAnnual income exceeds 40Of high-income groups:


  • For people with an annual income of more than 40, additional levy12.4% social security tax

  • AgainstAnnual personal income exceeds 52 and annual family income exceeds 62People, the personal income tax rate will also be restored from the current 37% to the pre-201739.6%


This will lead to the effective tax rate that high-income people actually need to pay in the endFrom 40% now to 50%.


For the middle class, due to the reduction of payroll tax pressure:


  • Annual income of 5 to 8 9People, 2022 can$620 tax cut

  • 8 to 9The crowd can$420 tax cut


However, because the corporate tax rate will increase from 21% to 28%, this part of the tax may be passed on to employees.Therefore, middle-class taxpayers may find that their after-tax income has declined.
 
Real estate policy
 
Biden will inevitably need to increase taxation for his $7700 billion economic recovery plan.In addition to direct tax collection channels, he will also intervene in real estate transactions.
Currently, there is a tax bill that facilitates real estate transactions-1032 Exchange (1031 Like Kind Exchange).The content of this bill is that if the income from investment in real estate is transferred to another real estate within half a year after the transfer of the real estate,Capital gains tax can be deferred.
Through this bill, many people who invest in real estate can never pay capital gains tax.andBased on the investor’s total annual income, a real estate transaction with a profit of $40,Capital gains tax may be as high as hundreds of thousands of dollars.
Biden proposes to cancel 1031 exchange, Want to use this to increase the government's annual tax revenue of 100 billion US dollars.But in the past, Congress has rejected similar proposals. I don't know if Biden can get the results he wants this time.
 
Medical policy
 
Biden hopes to further expand the "Affordable Care Act":
  • Implement a public health insurance plan in the United States to allowAll U.S. citizens can register and use, No longer restricted by the overlord clause of private health insurance

  • Increase the tax credit for medical insurance (Tax Credit), Reducing the current medical insurance costs to 9.86% of personal income to8.5%, So the monthly medical insurance expenditure will be$750 reductionabout

  • Strive to provide affordable public medical insurance for nearly 490 million low-income people,

 
Environmental protection policy
 
Biden should make AmericaReturn to Paris Agreement, And also hope that the United States can reach net zero emissions by 2050.He will also propose to prohibit new oil and gas exploration projects on public land and investUSD 2 trillionFurther develop new green energy.

I hope that the chain reaction after the results will come to an end as soon as possible, leaving the final peace of 2020...


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