Summary: PWBM uses dynamic distributional analysis to evaluate the effects of the Biden platform on different age and income groups. We find that working-age individuals in the bottom 40 percent of taxable income benefit the most due to expanded health insurance, increases in housing subsidies, and lower cost of prescriptions in the Biden platform, while young, high-income individuals and wealthy retirees see net losses due to tax increases and lower returns on their savings. Please refer to our analysis of the estimate for more information.
Note: Consistent with our previous dynamic analysis and the empirical evidence, the projections above assume that the U.S. economy is 40 percent open and 60 percent closed. Specifically, 40 percent of new government debt is purchased by foreigners.
Age at start of simulation,0 to 20,20 to 40,40 to 60,60 to 80,80 to 100 -20,78092,64494,-4275,-87623,-341069 -10,75871,57480,19564,-90742,-360490 0,68241,48373,14479,-102143,-353891 10,66556,37490,12175,-94580,-319858 20,67684,60423,14586,-83361,-281302 30,84655,72348,56348,10558,-134381 40,80313,61485,70584,48988,-47417 50,62352,47949,58265,40311,-48375 60,29089,29147,-6249,11827,-56095 70,24951,6916,-43203,-155430,-553164 80,19154,3298,-8978,-55007,-217456