Finance / Opinion / Politics

Biden Unveils Another Trillion-Dollar Spending “Plan”

trillionJoe Biden released the latest installment in the Democrats’ radical plan to transform America into a socialist society with fewer jobs and more dependence on government disguised as an “infrastructure plan.”

This $2.5 trillion step on the agenda follows up on last month’s $1.9 trillion in deficit spending that dramatically expanded the welfare state and the trillion dollars left unspent from last year’s Coronavirus legislation.

A sample of the so-called infrastructure plan’s lowlights:

  • Eight years of spending paid for over 15 years.
  • $100 billion to further the federal government’s intrusion into local public schools—on top of the $200 billion they’ve already allocated to schools for other purposes – and still no requirement to open schools.
  • $174 billion in subsidies for electric vehicles.
  • $400 billion to increase the number of health care workers paying union dues and expand Medicaid (again) to cover more people and services instead of working to fix the Medicare program for seniors as it quickly approaches insolvency.
  • Urges passage of the PRO Act, a political handout to union bosses that undermine worker rights and privacy.

To pay for their giant expansion of government, Democrats will raise taxes, lower wages, and squash economic growth.

  • Biden’s tax hike to 28 percent, in addition to state taxes, would drag the United States back to having the highest combined corporate tax rate in the developed world, nine percentage points higher than the average of developed nations.
  • According to the Tax Foundation estimates, Biden’s corporate rate increase alone will eliminate 159,000 jobs, reduce wages by 0.7 percent, and reduce long-run economic output by 0.8 percent.
  • A new minimum tax that will put American companies at a competitive disadvantage.
  • Even Democrats acknowledge this would be the effect, but instead of keeping our tax system competitive, they’re hoping to convince other countries not to compete for our jobs by raising taxes too.

Now, some Democrats are saying they won’t support the new Biden tax increases without adding $80 billion per year in special giveaways to the wealthy living in high-tax states. This is especially pernicious given that during their last spending spree, Democrats handcuffed states from lowering their taxes.

This is just the beginning of tax increases that hurt American workers. The Democrats are promising future increases on the individual side to pay for even more spending as they continue their quest to expand the welfare state. Please look for more on this scheme as further details are released.

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Tina Roberts
5 months ago

Just remember that for every trillion dollars the government spends, it puts the average taxpayer on the hook for another $8,000 or a bit more. Of course, you don’t have to immediately cut a check to Uncle Sam, but someday, somehow, that will have to be paid. And so far the government is in debt about thirty trillion dollars, so if you are a taxpayer your share is about $240,000. And if your spouse is also a taxpayer, the two of you owe a cool half million dollars to Uncle Sam. IF this bill is signed into law that will be another $20,000.00 debt per taxpayer.
Even if they somehow manage to never pay it off, that takes away from what the citizenship would have in our economy. It seriously diminishes the prosperity of the general population.
Also, if the interest rates rise, the taxes will have to go up significantly just to pay the interest on that $30,000,000,000,000 federal debt. The bottom line is, this is insanity. It is a house of cards that is very likely to collapse at some point and another crisis like covid could be the trigger for that.
Think about that next time you vote.

Mary
6 months ago

Biden/ Harris and Obama in the basement are making sure their friends/supporters are well taken care of. They plan on destroying America as we know it. They hate America. America last!!!!

Malcolm
6 months ago

The author states “Now, some Democrats are saying they won’t support the new Biden tax increases without adding $80 billion per year in special giveaways to the wealthy living in high-tax states.” He does not specify what these special giveaways will be, but based on past Trumpista takeaways that the DemonRats complained so much about, he must be referring to the cap on the “SALT” (State & Local Tax) Deductions. Sounds as though they are preparing to give it back to the rich people in their high tax states. The SALT cap at $10K was put in place by Congress to prevent wealthy taxpayers in high tax burden states (high Income Tax, high State Sales
Taxes, and high Property Taxes) from deducting massive amounts from their Federal Income Taxes, thereby shifting the burden of sustaining the Federal Gub’ment on to taxpayers in States with lower tax burdens overall. Alternatively stated, the lack of a cap for SALT deductions means that the Tax Code itself is/was/will be again gamed by individual taxpayers. The uncapped SALT deductions will again be helpful to both the taxpayers and the high tax States in which they live, to then continue to raise expenditures and State Tax burdens since they know they would be fully deductible from Federal Income Tax. The net effect is to subsidize the ongoing mismanagement so prevalent in States with high tax burdens: CA, CT, DE, HI, IL, KY, MA, NJ, NY, & VT, etc., to name a few. Deja vous all over again.

Janet Tomkins
5 months ago
Reply to  Malcolm

EVERY bill that the Democrats pass has a bunch of that. The vast majority of the money the government has spent since Biden became president has gone to Democrat organizations or to people or organizations that support the Democrats. For example, the money for the teachers’ unions. Just remember that 96% of political donations from the teachers’ unions goes to Democrats. So, your taxes are being passed to people who support the Democrats so they can give it to the Democrats. When you see the IRS taking substantial portions of your income, just consider that a political donation to Biden and company.

Stephanie
6 months ago

I cannot believe we allow this “man” to do this to America! Are we a nation of wimps?

Gail
6 months ago
Reply to  Stephanie

He’s the pawn doing just what his party wants done. It will disable many Americans financially and that’s what so it seems to me his party has intended. Steps toward socialism

Janet Tomkins
5 months ago
Reply to  Stephanie

It does appear so. The memory of Patrick Henry seems to be gone.

Michael J Cotrell
6 months ago

This Communist POS is playing the COMMUNIST MANIFESTO by the book of Sol Alinsky–I think that is his name–along with all of his cronies, the HOOKER V.P., his buddies in China, and the rest of the COMMUNIST faithful, the Democrat ass kisser’s like PEELOUSY, SHUMER, BADWATER, SLOWSTIEN and many more!!!

J.R.
6 months ago

This hole thing is nothing but a giant scam to come up with mountains of cash to give the Democrat supporters and crownies that help them get in the white house just like Obama did when he got elected. Everything the Dems say they are doing for “the people” is realy a scheme to amass more power and money for themselves.

Kim
6 months ago

This is insane: repeating the same actions over and over again, and expecting a different outcome this time. Why, because Biden is “special” and everyone loves him?

Have you paid a visit to the US debt clock recently? Just duckduckgo “US debt clock”. Fascinating. The national debt is now over $28 trillion. By 2025, a mere 4 years from now, the debt clock predicts that figure will increase to nearly $50 trillion! We need to turn back the hands of time, and get this monster under control. That means voting into office real fiscal conservatives.

The dems love holding onto your wallets, and that won’t work for America. Totally and tragically insane.

Centurion
6 months ago
Reply to  Kim

“…voting into office real fiscal conservatives.”

Not going to happen. There’s just way too much fraud going on in the elections. It’s been going on for decades. Only during the 2020 elections did most people see it and recognized it for the first time ever. But with the demon-communist-cRATS in total control there will be no free and fair elections again. At least, not without a major revolution.

Michael J Cotrell
6 months ago
Reply to  Centurion

Roger that!!!

Kim
6 months ago
Reply to  Centurion

So, what do you suggest? Not voting? Storming the Capitol? Have you written to your senators and representative demanding they fix the problem?

Michael S Bares
6 months ago

First of all, it doesn’t pay to contact your Senators. I emailed Durban, and Duckworth about stopping big tech, and their censorship. A month later I received an email from both, explaining their push for that stupid H.R.1 bill, and how great this voting bill is / NOT! The point is, they didn’t even answer my question! What do you/we do if they’re not even listening? Do we vote? Will our vote count? My Granddaughters will be paying for this! They’re destroying this country. 2022 is our only hope. I hate to be doom & gloom, but this is a f€^*’$g train wreck.

J.R.
6 months ago

The answer to all this to call for an Article V convention of states to allow the states to make the needed changes to the Federal government to get the nation back under control. Look it up and sign the petition and get involved doing something that is leagal and non violent and gets things done. The constitution gives the people and the states this right, we need to use it NOW.

Stephanie
6 months ago
Reply to  J.R.

Thank you! I’m going to look that up now! Awesome info with the ability to actually take action!
Listen comments do nothing NOTHING! We HAVE to ACT!

Barry Courtnay
6 months ago

This is the start of OLIGARCHY! The Great New Reset is here. Biden is talking 5% actually going to roads, bridges overall infrastructure. That means 95% is going for other things, like the new green deal. He Biden said they want a high-speed train going from the east coast to the west coast. Why they the far left want to eliminate high ways the Democrats consider to be racist. I saw this story on the news. Starting with a highway in Louisiana. Please don’t believe me research the Great New Reset. Pete Buttigieg said the other day we need to put our high way on a diet, what does that mean? He is the head of transportation. If we the PEOPLE don’t stop this take over to our rights, America will be just another socialist-communist country. They are right now talking about a covid passport. Does this mean if you don’t get vaccinated you won’t be able to travel? I was born believing that America was the greatest country in the world. If we allow this power takeover to happen we will be just another third-world country like China, Russia, Venezuela. Everything our forefathers fought for will be for nothing. We can’t let this happen. The time has come to stand up and be heard. Time is running out. Watch what they the school unions are doing and what they are teaching your children and grandchildren. Last of all call your Bank and ask if they are going to use the E S G scoring in the future or are already using this system. If your bank is using this, you might want to put your money somewhere else. WE are living in times of the devil, don’t let him in! Celebrate Easter, Jesus Christ will lead those that believe.

Phil Hammersley
6 months ago

Just like the “COVID” plan spent only 9% on Covid and the rest on political payoffs, this plan spends 5% on actual “infrastructure” and the rest to reward leftist supporters of the senile president. A repeat of Barry O’s phony “shovel-ready” jobs program which did nothing of the sort.
If we had an even 30% honest media, this excrement would get nowhere!

David P Nelson
6 months ago

Ben, this nonsense has got to stop! The Conservative values must prevail. I’m afraid we, as a Nation, are headed for disaster.

JohnH
6 months ago

I do not support plan, as I think Biden is moving way too fast on going to electric vehicles in USA. A lot more things need to be in place before this works . And how about additional electric use & minerals needed to make batteries. Slow down & work on this a little at a time.

Hen3ry
6 months ago
Reply to  JohnH

Typical Dems
Force electric vehicles on us
Then abolish the fuels necessary to create the needed electricity
Replace those fuels with inefficient, expensive and unreliable alternatives
Which will take up mega huge tracts of land and have a short shelf life
Meanwhile NOT spend so called infrastructure money on roads and bridges
They just plain and simple want to kill our cars and freedoms.
Sounds like we’re living in an Airhead Ocassio Cortez college political thesis.

BAE
6 months ago

Mr. biden is living proof that a human being can live without a brain.
WOW are the American people in big trouble with this out of touch Administration. SCARY!!!

Hen3ry
6 months ago
Reply to  BAE

Instead of going to the Emerald City to see the great Oz like the scarecrow
Joe went to the White House and
Where Sanders and Warren et al behind the curtain.
Scary indeed.

Danny Estridge
6 months ago

I’m just wondering who will fight our wars? Spending all this on BS instead of at least part of it going to the military. Did my 20 and it sucked but did what I had to. Who’s gonna take my place now and maybe get killed? Of course Kruchefv (the Russians for 1950’s/60’s) said they wouldn’t have to fire a shot to defeat us, guess they were right. Thank God I’m too old now to make a difference, unlike Biben (Bips for kids) that screwed us and didn’t even know what he did. Very sad.

Jesse Tiede
6 months ago

“Now, some Democrats are saying they won’t support the new Biden tax increases without adding $80 billion per year in special giveaways to the wealthy living in high-tax states.” well, does this mean that the republicans are no longer the party of the rich? Shoot, the Democrats have had the honor of being the Party of the Rich and Famous since the 1960s! why lie about it?

Christopher Lackney
6 months ago
Reply to  Jesse Tiede

Don’t loose perspective on what’s really going on…a neo marxist take over of culture and country. That’s what we need to fight. Everything else is a distraction.

par
6 months ago

How deep are this clueless individuals pockets. How about letting the people that voted for him pay the cost. Hey Joe – start a gofundme.

Jesse Tiede
6 months ago
Reply to  par

How deep are their pockets? Better question is how deep are YOURS? And MINE? And every other tax payer in the country? Funny thing that all those “Money for Nothing” people, who keep demanding more and more from the Government, refuse to understand is SOMEBODY has to PAY for them to get all that FREE money, be it Student Loan Forgiveness, or Stimulus money, or Extended Unemployment payments! Guess who THAT is? Is it the “Rich”? Is it the Hollywood and Sports celebrities? Is it Congress? No. No. And No! It’s YOU and ME! It’s everybody who WORKS for a living! So, what is going to happen when the “Working Class” decides it’s not worth working, when you can get a pretty nice living off of the Government, for FREE? When the Taxpayers stop working, and stop paying TAXES, who’s going to fund their future payments? Just how much “Free” money can the Government print, before the money will not even be worth toilet paper? And, when will the government assign “work” to those who are getting all this free money, to PAY for that free money? SOCIALISM is SLAVERY, Folks! Why can’t these blind idiots see that???

Mary
6 months ago
Reply to  Jesse Tiede

Agrreed

BAE
6 months ago
Reply to  par

LOL, Joe Biden did start a gofundme and it is US……………….

Christopher Lackney
6 months ago

Without men of honor, there can be no Republic. Where are they?

the rebel
6 months ago

Jobama does not understand business, economics, budgets, finances, etc. but he does understand how to use his son and brother to steal American taxpayer dollars disguised as government assistance programs !!!!!!!!!!!!!!!!!!!!!!!! HE IS SUCH A [email protected]$$ ————————————

par
6 months ago
Reply to  the rebel

[email protected]$$ – you are being polite. Clueless and brain dead.

Hen3ry
6 months ago
Reply to  the rebel

Scary version
Maybe he/they do understand economics
And they’re just plain out malicious working to destroy our way of life.

Victoria Johnson
6 months ago
Reply to  Hen3ry

They absolutely know exactly what they are doing and it is all deliberate. They’re all just counting on getting their share of the spoils before it all collapses and don’t give a dam about how it affects the country or the citizens.

Victoria Johnson
6 months ago
Reply to  the rebel

Can’t be too dumb. It’s worked for him his entire career and now he’s reached the pinnacle of his earning power. How dumb does that make us for installing (not ‘electing’) him into his present position?

Nancy Hartwell
6 months ago

Bidens administration is destroying our country so fast! Our country needs to wake up and stand up to these idiots. Whatever it takes, We The People are losing everything President Trump worked so hard to give us! Our past, present and our future, are going away right in front of our eyes! What are we going to do??

Willie
6 months ago

Biden and the democrats are going to destroy this country.Biden and the democrats are evil being controlled by evil.Democrats want to kill anybody that is loving,nice and love this USA.

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