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Bidenomics: Over Tax, Overspend, and Inflate
It’s been said that America has the greatest debt in the world — it’s all outstanding!
It’s also getting bigger. Like a hungry monster, Washington’s appetite for taxing and spending is never satisfied. Yesterday, Congressman Ron Estes (R-Kans.) joined me on ” Washington Watch ” to discuss Joe Biden’s massive spending plan and the danger it imposes to our economy and to ordinary American families.
Estes noted something the media almost never mention: The Biden spending plan is now up to $4.3 trillion, but, as he explained, “We already spend $4.7 trillion annually already.”
This is even more stunning when you consider that in 2020, the Congressional Budget Office estimated that federal debt — for that one single year — accounted for an estimated 102 percent of America’s gross domestic product (GDP). Put in perspective, that means that for the first time since the end of the Second World War, Uncle Sam’s one-year debt will be larger than the size of the entire U.S. economy .
President Biden said recently that his proposed tax increases would account for $3.6 trillion in new revenue over the next decade. First of all, that amount still falls far short of federal spending for a single year! But Mr. Biden, who has never created a job or signed a single paycheck in his long career, is oblivious to the fact that roughly ” 70 percent of corporate taxes (are) passed on to workers through lower wages and benefits.” In other words, “soaking the rich” means fewer jobs and less pay for ordinary Americans.
Congressman Estes also said that Mr. Biden’s tax-and-spend plan will “make the United States less competitive.” Under the Trump administration, Estes reported, not a single American company incorporated in a foreign nation because the 2017 tax cut plan made staying here at home so appealing to American firms. However, he said, if the Biden plan is enacted, “we’ll get back to the point where our tax rates are so much higher than other countries around the world that businesses will again start taking the jobs overseas and opening up […]
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We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
We need help. I don’t want to say “desperately,” but the need is definitely great. If you have the means, please donate through our GivingFuel page, PayPal, or our Substack page. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker
