When It Comes to Tech Policy, Biden and Harris Put America Last

By Stephen Moore

The Biden-Harris administration’s approach to tech policy has sparked significant criticism, as outlined in Stephen Moore’s article on Hot Air. The key points raised touch on economic impacts, regulatory challenges, global competitiveness, innovation hurdles, international comparisons, and underlying political motivations. Collectively, these issues paint a picture of an administration that may not be aligning with America’s best interests when it comes to tech policy.

Economic Impact on Shareholders

Moore highlights that American shareholders could face substantial financial losses due to the administration’s tech policies. These losses amount to tens of billions of dollars in investment income, which can be attributed to a potential decline in the value of tech stocks and reduced dividends. This economic strain on shareholders suggests a significant cost to the American public.

Regulatory Environment

The article argues that the Biden-Harris administration is fostering a hostile regulatory environment for tech companies. Increased scrutiny, antitrust actions, and stricter regulations could potentially stifle innovation and growth within the tech sector. This environment may dissuade companies from expanding and investing in new technologies.

Global Competitiveness

Moore raises concerns about how the administration’s policies may diminish U.S. competitiveness on the global stage. Stringent regulations and taxes could push tech companies to seek more favorable climates abroad, thereby diminishing America’s standing in the global tech landscape.

Impact on Innovation

The stifling effect of overregulation and heightened compliance costs on innovation is another critical point raised by Moore. These factors could potentially discourage investment in research and development, which is essential for technological progress and staying ahead in global tech innovation.

Comparison with Other Countries

Drawing comparisons with tech policies in Asia and Europe, Moore criticizes the U.S. for what he sees as a lack of pro-growth policies. In countries where governments are more supportive of their tech industries, companies thrive and contribute to national economic growth. The U.S., by contrast, may be lagging due to excessively stringent policies.

Political Motivations

According to Moore, the administration’s tech policies may be driven more by political motivations than a genuine interest in promoting American technological leadership. He suggests that these policies aim to appease certain political constituencies rather than benefit the broader economy, questioning the administration’s underlying priorities.

In summary, Moore presents a critical view of the Biden-Harris administration’s tech policy, arguing that it is detrimental to American economic interests and the nation’s technological advancement. The policies, as portrayed in the article, not only risk financial impacts on shareholders but also threaten the country’s innovative edge and global competitiveness.