Wednesday, July 27, 2022

Biden's Build Back Broke SwindleUs Plan - Here We Go Again

Socialist Senator Joe Manchin of West Virginia finally succumbed to intense pressure to raise taxes and to enact another SwindleUs Plan that will kill jobs.  This Build Back Broke Plan will raise taxes by more than $700 billion while spending about $400 Billion on Green New Deal boondoggles and other Socialist schemes.  This is on top of the $52 billion corporate welfare money going to the Semiconductor industry.  Anyone who has taken and passed Economics 101 knows that higher taxes are job killers in good times and bad.  This is especially the case when the country is going into a Recession as we experience Stagflation; that is crippling inflation with slow or no growth. 

To make things even dumber, at the same time, the Federal Reserve is raising interest rates rather quickly to try to combat inflation.  While this may make sense, raising taxes at the same time insures that the Recession will be deeper and last longer.  We are in for some real pain as lay- off's will begin soon.  

Socialist President Franklin Roosevelt stupidly raised taxes on the "rich" at the height of the Depression.  And in doing so prolonged the Great Depression for many years.  Unemployment during the Depression never went below 14% even with all that New Deal pork barrel spending.  In fact, Roosevelt's Socialist policies and spending did nothing to end the Depression.  It was World War II that ended the Depression in 1939 as the country was ramping up military production for the coming war.  

So here we go again.  Official inflation is at 9%.  If food and energy costs were included in the computation, inflation would be more like 17%.  Biden's inflation is killing the poor and middle class who suffer most from higher prices.  This inflation was caused by trillions of dollars in government spending to combat Covid way beyond the need.  Socialist Fascists never let a good crisis go to waste and used Covid to enact all their crazy Socialist spending schemes including giving Blue states billions of dollars to bail them out from years of mismanagement.  

This new Socialist Fascist Reconciliation Build Back Broke SwindleUs Plan will be enacted without one single Republican vote is just more of the same.  We are in for a serious Recession.  The only question now is how long it will last.  It will take a Republican Congress and President to get the country back on track.  Just pray that Donald Trump is elected to his second term in office to clean up the many messes left behind by feckless Joe Biden, if Biden lasts another two years, which is doubtful.  

No comments:

Post a Comment