Broke

Here are the two things that you need to know for your financial future. One, the United States of America is broke.  The national debt is almost 30 trillion dollars, that’s the money we owe everybody in the world, especially the Chinese communists. Two, Joe Biden is an economic dunce in addition to being an outright liar. He has earned the coveted ‘Four Pinocchios’ award from the Washington Post (Pravda for the Democrats), for the bullshot he’s been feeding the folks about Georgia election law. His announced fiscal proposals will affect you and your family’s future in a number of ways and will make him eligible for a second award from the paper.

Now it’s tough to call the President a liar, but in this case the shoe fits perfectly. When he read his inauguration address on January 20th, he said that he would create more jobs for everybody, even those who lost theirs when the Keystone XL Pipeline was shut down.  The pipeline workers are still looking. Now he’s prevaricating daily about his economic stimulus bill, a variation of the “Build Back Better” campaign balderdash that flowed from his Delaware basement.

This is where the economic dunce label is appropriate. Old Joe, the alleged man of the people, has never ever worked in the private sector, never signed the front of a payroll check. He’s been on the government teat for darn near 50 years, owns several homes worth millions and has never worried about retirement income challenges. He doesn’t know any more about the private sector than a pig knows about Sunday.

The leader of the free world, and verifiable socialist has proposed 2.25 trillion dollars of government spending to cure all the national ills created and unattended to by that evil capitalistic orange man, Donald J. Trump. To pay for this, this self-proclaimed economic savant will raise taxes on the evil corporations and the evil rich to pay for our economic salvation.  What a stroke of genius by the President. His Transportation Secretary, Pete Buttigieg, former wildly successful Mayor of South Bend Indiana, suggested that charging Americans a tax based on mileage driven would be a good idea to pay for infrastructure improvements. That thinking is why he failed as a presidential candidate. The Wall Street Journal states that these proposals concocted by Joe’s chosen collaborators will result in the largest tax increase since 1968.

Here’s the rub for those who weren’t paying attention, didn’t like or didn’t take an econ class. This social infrastructure spending, job creation and tax increase scheme won’t benefit the vast majority of everyday citizens. This is nothing more than an advance to socialism, an attack on the private sector.  The government doesn’t and hasn’t ever “created” jobs except in the bloated DC swamp.

If you increase the taxes on corporations, that cost will not be absorbed by them.  Nope.  The prices of their products will be increased to maintain their profit margins and stockholder dividends. If the tax liability is too dramatic, the corporation will move out of the country to a friendly tax environment. When you raise taxes on oil and gas companies, it means the costs of gasoline, heating oil, and plastic will explode. It’s that simple. So simple that its mind-blowing that Joe doesn’t understand this fundamental economic principle. The same holds true for increased taxes for the rich.

Already evidence exists of the “rich” fleeing to states where the taxes are not confiscatory. Look no further than California, New York and Illinois, states where the plundering of personal assets has wealthy citizens migrating like birds to warmer climates. Once they get there, they won’t be buying big boats and private aircraft either.  Look for job losses in that sector. Joe Biden has never had to face this challenge because he’s been on the government dole too long, out of touch and out to lunch, just like most of his Administration. 

So, what is the Nation going to get for the 2.25 trillion? Better roads, bridges, airports, sewers, water systems and more jobs? Not a chance. Only 115 billion goes to those upgrades and repairs. Anyone remember Barack Obama’s “shovel ready jobs” initiative that he finally admitted, didn’t’ create any shovel ready jobs? This financial boondoggle proposed by the Biden-Harris Administration is nothing more than a bigger version of that smoke and mirrors fiscal fiasco, mostly designed to funnel money to the unions, minority constituencies, the “Green New Deal” zealots, social welfare, and destressed blue state governments. A pure socialist scam.

There’s a reason that neither Joe Biden nor Kamala Harris ever taught a class in basic economics. They clearly don’t understand those principals and frankly they don’t care a whit about the cause and effect the havoc of this “well-intentioned” financial salvation will create. Economists who are true capitalists and support this hooey, are as rare as a well-behaved Biden German Shepard.

On the other hand, maybe Joe just reads what the background players put on the big teleprompter screen and wanders back to whatever is left on his daily, light White House schedule. For example, a reading of the Presidential schedule on his web site, found one event on his calendar Tuesday, signing an extension of Trump’s PPP (Paycheck Protection Plan) bill. Most days it’s one scheduled event. This is the new norm, in contrast to the mercurial pace previous Presidents have kept.  Not exactly breaking a sweat, looking out for the people.

But then again, when your Presidency is on cruise control traveling the road to socialism, there’s no reason to.