Posted on 04/29/2021 8:15:35 AM PDT by C19fan
Joe Biden last night brought the total new spending commitments announced in his first 100 days in office to $6 trillion - but he's facing questions over whether tax rises he proposes will be enough to cover the ambitious plans he needs to put through Congress.
Speaking to 200 lawmakers in Congress last night, Biden set out plans for his $2.3 trillion 'American Jobs Plan' that he called 'a blue-collar blueprint to build America'. It joins the American Rescue Plan and the American Families Plan, at a time when national debt is at its highest level since 1945.
The $1.9trillion American Rescue Plan that gave aid to American citizens amidst the coronavirus pandemic has passed Congress and is already covered through federal spending.
(Excerpt) Read more at dailymail.co.uk ...
I'm being sarcastic of course but this is exactly how people think who are overextended and maxed out on credit cards.
Biden’s spending play will increase Federal government spending by 3% of GDP.
Too many Gimmees, now.
We are too high on the Laffer Curve. No matter what they do they won’t get more revenue.
Tax increases never bring in what the government thieves claim it will. People find ways to avoid the taxes, including by earning less. When British taxes got so bad that it actually cost Agatha Christie to publish another book, she simply stopped writing. Taxes kill productivity.
National debt? Pffffttttt! Anyone believe it will ever be brought under control? Stoopidly, when a lot of the dumbasses out there are questioned, they say “Well it’s government money.” UH NO! The government doesn’t have any money except what they ‘take’ from us.
The Democrats have no concept of fiscal responsibility... spending money in one area and the idea of either raising funds to cover it or lowering spending elsewhere are not in their playbook.
In fact, Taxation is not being used to support their extra spending any more: it’s used to punish ‘bad behavior’ in whatever morality they choose to employ at a given time.
.....Biden’s fraud of an “American Jobs Plan”....”we’re gonna create millions of good-paying [union] jobs...”, well, you fraudulent PoS, what about all those “good-paying union jobs” you eliminated when you canceled that XL Pipeline....? under this administration, this country is screwed, royally screwed....
How will biden cover the cost?
Are these people kidding?
Most if it is laundering and will go back to him and his puppet masters.
Hello!
Print more money - like Zimbabwe
We’re going into socialism faster than the old Soviet Union. Communism is on our doorstep.
Easy.
He will tax the rest of us through inflation.
“Spend all you want we’ll make more!”
I’m doing it, I’m doing it, on my way to buy my own Airbus. LOL
With massive debt, the Deep state rigging elections and the Woke-left in charge, America’s future path is set.
A collapse of the USD and local government bankruptcies can turn out to be a good thing - if people are prepared. We still have some memory of the Constitution and states-rights and local government could return.
This is good news for the folks who run the Treasury printing presses. There will be a lot of lucrative overtime available soon.
“We are too high on the Laffer Curve. No matter what they do they won’t get more revenue.”
I agree regarding ‘the wealthy’, who have proven time and again that they can ‘work around’ just about any tax increase that comes their way. But I can think of many ways for the government to grab more money, although it will anger 95% of the country, since it will lower living standards. Here are just a few that would collect some serious money:
Mayor Pete mileage charging, possibly coupled with bring gas prices to ‘world levels’.
Ending the cap on Social Security taxes (now at $137,700).
National Sales Tax.
But good luck getting any of that passed...and without the above passed, or equivalent budget cuts (that will also anger conservatives, in many cases), nothing will happen...until China makes its move and finally breaks us.
By pouring more soldiers into Afghanistan? Oh wait...
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