Biden’s Handlers Prepare $3 Trillion Spending Binge
Because the dollar is the world’s reserve currency, it can withstand the obscene $1.9 trillion “coronavirus relief” blowout without succumbing to hyperinflation. But that was just the beginning of the looting spree:
Biden’s economic advisers are pulling together a sweeping $3 trillion package to boost the economy, reduce carbon emissions and narrow economic inequality, beginning with a giant infrastructure plan that may be financed in part through tax increases on corporations and the rich.
Tax increases on corporations are passed along to us. As for “the rich,” those who really are rich will have another reason to get their money out of the country — and out of US currency, because most of this will be financed with the printing press.
When Big Government spends massive amounts of money to “narrow economic inequality,” it is moving us toward Marxism.
As for reducing carbon emissions, this pointless objective will be advanced by wasteful spending on inefficient green energy boondoggles that launder public money for campaign donors as under Obama.
At least spending on infrastructure is constructive. The Hoover Dam and the highway system come to mind. But I’m forgetting; Biden’s leftist handlers are in charge. Their idea of building infrastructure is to virtue signal by pouring money down wasteful rat holes like rail projects that we are supposed pretend will save the planet from unavoidable climate fluctuation.
Administration officials essentially see those goals — building out the nation’s infrastructure and shifting to a low-carbon future — as inseparable.
No doubt $zillions will be spent on charging stations for electric cars that do not exist because few want them and because the raw materials to build them just aren’t there.
Not all the wealth will be wasted on global warming malarkey. Democrats also plan to throw money at “free community college, universal prekindergarten and a national paid leave program.”
Since it is a spending bill, and the Democrat Party is in lockstep with its radical wing, they won’t need to break the filibuster to ram this through without any Republican votes at all in either the House or Senate, like they did with the last unaffordable spending blowout.
The overall price tag of the package could approach $4 trillion since it includes several tax incentives, like credits to help families afford child care and to encourage energy efficiency in existing buildings.
The term “tax incentives” often refers to people who do not pay taxes receiving free money. The cash payments are euphemized as “tax credits” instead of “welfare handouts” for political reasons.
Ben Shapiro warned us that the $1.9 trillion “coronavirus relief” blowout entailed an expansion of the welfare state that was supposedly temporary but would soon be made permanent. He was correct.
[The] plan would also extend or make permanent two temporary provisions of Mr. Biden’s recent relief bill: expanded subsidies for low- and middle-income Americans to buy health insurance and tax credits aimed at cutting poverty, particularly for children.
What kind of hard-hearted fiend wouldn’t want to reduce child poverty? But what they are talking about is paying the unemployed to produce more children out of wedlock. In other words, they are deliberately creating more child poverty, in the belief that poor children will grow up to vote for Democrats.
Naivety or stupidity might have excused going along when LBJ first imposed the hilariously misnamed “Great Society” through his Orwellian “War on Poverty.” But having been down this road before, we all know where it leads: to stagflation and more poverty.
Biden’s handlers still pretend they will not raise taxes on any individual earning less than $400,000, counting on the media to ignore two facts: (1) raising taxes on corporations effectively taxes anyone who uses their goods or services and (2) inflation taxes anyone with so much as a penny of US currency in their pocket.
Picture a Black Lives Matter mob in charge of a Target store — prying open cash registers, stealing anything they can cart off even if they have no use for it, destroying what they can’t out of sheer malice. That is the exact equivalent of putting the radicalized Democratic Party in charge of the federal government.
Hat tip: Maggie’s Farm.
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