Posted on 04/01/2021 7:16:48 AM PDT by SeekAndFind
Joe Biden said that he was going to pay, partially, for his $2 trillion ten-year slush fund, supposedly for infrastructure, with $1 trillion in new taxes on corporations which will be collected over fifteen years.
According to CNBC:
President Joe Biden on Wednesday is unveiling his latest plan to boost the post-coronavirus economy — a $2 trillion infrastructure package called the American Jobs Plan.
In it, the president calls for billions of dollars for transportation infrastructure, the care of elderly and disabled Americans, drinking water infrastructure, housing, manufacturing and job development and training.
To raise the money to pay for it, Biden is proposing raising the corporate tax rate, cracking down on companies offshoring profits and eliminating tax breaks for some industries. With the tax increases, the measure would pay for itself in 15 years, and thereafter reduce deficits, according to the White House.
Does anyone have trouble recognizing that ten years doesn't match fifteen years?
(Excerpt) Read more at americanthinker.com ...
The old-fashioned way. You print it and buy your materials from China and cheap labor from Mexico and then discover that another $2T of your country is owned by the CCP.
I bet it cost more than expected and the taxes bring in less than expected.
isn’t it adorable how they pretend this is doable?
Well Nancy just passes a Bill and takes whatever she wants
Stolen elections matter. The socialist/globalists who seized power and run Biden intend to destroy the American nation.
Mostly with inflation.
The rich can dodge and reallocate, the middle class can not.
If you're household income is over $120K you will pay more.
They sold out to foreign entities in order to gain personal wealth and power. The Deep State Repukes and RATs are too stupid to steal an election and take over the government without foreign assistance. Now that a Deep Stater is once again in the White House the IOU’s must now be paid!
He doesn’t, we do/will. One way or the other.
Funny how baizou is a thing now. Nicely done.
You speak wisdom.
Dementia Joe did not win on 11/3/20 therefore nothing he’s done or proposes since 1/29/21 is legal. The same goes for many in both houses of Congress as they, too, did not win, e.g., the Senate runoff traitors in GA.
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Safe bet. You are a wise person.
Projects almost always take longer and cost more than projected. Real numbers don’t get projects approved so they are “adjusted” downward to an acceptable level.
As a contractor I once built a gigantic spreadsheet documenting every work element what a major government project would cost. When the cost exceeded (by a significant amount) what the agency wanted to spend they asked for someone else to “take another look” at the cost projections. After numerous creative iterations and light assumptions they were able to magically get the cost down by about 50% of the original estimate. So you know there was a lot of legerdemain going on.
Project budgets have an uncanny way of being very close to the funding that is available.
The two trillion dollars will NEVER be paid for, short of an absolutely austere budget regime for maybe a decade, in which the Federal government is held to spending maybe only about 60-70% of its gross tax RECEIPTS each year, and using the remainder to pay down and stop interest payments of the bloated national debt.
And even that would not substantially reduce most of the outstanding debt remaining, still a fantastic number that few if any common people and government planners can get their heads around. This would just blunt the most recent burst of deficit spending.
The chances of the US Congress and the successive Administrations ever keeping to that discipline are somewhere between fat, slim and no chance whatsoever.
He doesn’t, and not even we will.
See “history of the Big Dig” for a reference.
Talking head on Fox said yesterday that the final bill will probably be closer to $5 trillion.
Interestingly, there’s a ton of money in there for freight railroads. I used to work for one and the unions that account for all the different jobs are pretty powerful.
But, if I saw it correctly, they’re getting around $50billion for something.
So, either the President, whoever that is, is paying back the unions with public money or the President, whoever that is, is unaware that they are privately owned as are all their tracks and facilities. Kind of like the genius Paul Ryan wanting to go after their railroad retirement pension, thinking it was public money, only to find out it was all privately funded.
Oh well, must be really nice to be Warren Buffett. First you get them to shut down the Keystone Pipeline so you can start making mad money again transporting all the oil on your trains. And now you’ll get the taxpayer to pay for all the upgrades to your train tracks. Win Win. Hope he sends, Thank You cards, to the 80,000,000 folks that voted for CornPop.
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