Hold onto your hats, 'Murica, because the spending train is moving along full steam ahead!
Off a bridge that is:
Here's what the plan will entail:
- $621 billion in bridges, roads, public transit, ports, airports and electric vehicle development. I can feel Pete Buttigieg's excitement from here.
- $400 billion in care for older and disabled Americans. While this sounds nice, it's basically a tripling down on the bloated disaster that is Medicare/Medicaid.
- $300 billion on upgraded water infrastructure, electric grids (get ready for windmills!), broadband access. The later is vitally important for the millennials who are terrified of the coronavirus and have decided to never emerge from their basements.
- $300 billion for government housing and renovating schools. Anyone who has seen public schools or the projects in big cities know how well those programs have worked the past few decades.
- $580 billion in American manufacturing and research. While this actually sounds pretty good, I assume there's a clause in there that specifies only leftist organizations will get the goods of future generations' tax dollars.
A key point to note: the government doesn't generate wealth.
Take all our modern machinations away for a moment. Imagine you have a community of ten farmers who hire a manager to fix up the roads between them.
Say the manager gets a little power hungry and decides that he knows the best way to grow food, so he imposes more fees and rules on five of the farmers he doesn't like and gives kickbacks to the other five.
Inevitably, the restrictions cause half the farmers to move away and the manger's attempts to farm result in the rest starving.
Eventually, the little community becomes a ghost town.
Now apply that to our current government, which is spending freaking boatloads of money we don't have. Biden plans to raise the corporate tax rate to 28% to pay for some of this junk, but that ain't gonna be enough.