Has any observer ever witnessed anything like the tax and spend fiasco that is unfolding in Washington? It’s the comedy of errors without any of the comedy, just the punch line, which is that the Democrats will accept any plan, however damaging to the country, that gets them out of town with something on Biden’s desk. Even at its reduced cost number of $1.75 trillion, or whatever it is today, it would be an enormous expansion of entitlement programs and the largest expansion of corporate welfare in history, including over $500 billion in boondoggle climate change projects that lead nowhere in terms of addressing climate change. And it will do nothing for growth in GDP or wages or the worker shortage. Why? As the Wall Street Journal has well noted, “the White House and Fed have deployed the Keynesian policy mix of government spending and easy monetary policy to boost demand. Meanwhile, they have squeezed the supply side with incentives not to work, restrictive mandates, and the promise of more regulation and higher taxes. The result is 5% inflation and supply-chain disruptions that will stretch well into 2022”.
If we want to look a lot like Europe, this plan will get us there pretty quickly. Former Sen. Phil Gramm and his associate Mike Solon wonder, with the Build Back Better Act proposing to explode unearned benefits and redistribute them to middle-income Americans, how long it will take the current U. S. labor-force participation rate of 61.6% to fall to 55%, as in France, or 50%, as in Italy? Probably not very long. Who then will pay for the BBB plan? One thousand billionaires? There aren’t enough of them to fund a month of this nonsense, and that would be gone in short order, as they find legal means to avoid the increased taxes or move offshore.
In a recent speech in the Senate, Sen. Susan Collins of Maine has the destruction that would result pretty well pegged: “This administration is creating entitlement programs untethered to work that would fundamentally change incentives for our families, our communities, our society, and our economy, depriving people of their dignity and eroding their ability to provide for themselves and their families.” Of course, she knows that what she describes is exactly what the progressive left wants. And I think she also understands that this issue is not about the numbers, $3.5T vs. $1.75T, or whatever, it’s about the moral corruption underlying it all.
Greg Stachura says
The American Dream cannot be delivered by government. It must be earned by those willing to employ their own energy and genius.
Danny Billingsley says
Like the disaster on the Rio Grande, fiasco in Afghanistan, pandemic mandates, CRT in schools and our military and boys in girls bathrooms, the democrats are playing the same long game with their huge tax and spend game. The long winning of the culture war and slide into socialism has taught them to continually hammer for cultural change, offer handouts to all Americans, buy and coerce big business, blame their opponents for their own shortcomings and lies, ignore our enemies threats and continually grow the size of government are long term winners. Biden has a documented 40 year history of lies, deceit and corruption, yet over half of voters placed placed him in job he’s obviously not capable of performing. The democrats knew that from the start. They also know he can’t be reelected, but he can be used for wrecking America as we know it, putting in place a socialist government and setting themselves up for indefinite rule.
Jim Windham says
You’ve about covered it all, Danny.
Tim Phillips says
Cloward and Piven strategy execution is accelerating and we may have actually reached the tipping point unless patriots rise up and speak truth to power. There is a great reckoning on the horizon. Be prepared.
david c redford says
The solutions to problems for the Republicans is simply do nothing and hope it all works out. Trump had one or two “infrastructure week” when the congress and press were suppose to chat about this. Everyone knows money needs to be spent on infrastructure and Trump should have put in the work to pass a bill when he was president but he did not know how and did not have the energy. The solution for Trump and Republicans is to have a big tax cut and let it trickle down from Bezos and others to little people but it never works. The Build Back Better bill will pass and will help in many ways. Republicans want to do nothing to solve climate change and let this earth suffer for our grandchildren and their grandchildren. We must try to solve our problems and we need all members of congress, companies and citizens to work together and quite the name calling. We certainly need to acknowledge that Biden won the election. About 79% of Republicans think he did not and I guess that includes many who read the Texas Pilgrim. All Trump does is talk about this and he is the face of Republicans.
Jim Windham says
All of this is right out of AOC’s talking points. This is not about Trump. The results in Virginia were not about Trump, and Youngkin was not elected by Republicans, he was elected by reasonable Democrats like James Carville who are not buying your party’s wokism nonsense and economic illiteracy.