Signum Global Advisors told clients on Thursday that they aren't convinced Joe Biden will be as progressive as some might hope if he becomes president.
, on Thursday warned business leaders that their corporate taxes are going up from 21% to 28% if he became president. Biden also said he plans to put an end to shareholder capitalism if he gets into the White House.
Biden is ahead of Trump in most national polls, with a Real Clear Politics polling average showing the former vice president up nine points over the current commander in chief. Signum says some of the most notable missing progressive ideas include the Green New Deal, "Medicare for All, and the legalization of marijuana.
"The result represents a very successful effort by Biden and his team to control the narrative and policy direction, while making just enough concessions to the progressive wing to avoid an open rift in the party," the note says. Sanders would clearly disagree with that stance, as he recently said that if those policies are implemented it would make Biden "the most progressive president since FDR" .
Myers and his colleague also say that the minimal details in the recommended economic policies show that Biden is on track to stay away from any major progressive overhauls. The firm takes aim at the suggested tax policy, saying it's "light on details" and further adding that the idea of reviewing mergers that took place under the Trump administration is missing a key mention of focusing on tech conglomerates.
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