Biden and his FOCs would have us believe that his 3.5 trillion dollar bill will be free. He says it will be paid for by the increase in taxes for the rich.
Let’s take just a little closer look at it.
First, we will pay with higher prices at the store: the rich will want their profit. Second, we will pay for it in higher utilities. Third, we will pay for it any time we buy a car: automobiles are made by rich people who want to make money. Fourth, we will pay for it in taxes. Income taxes are not the only taxes, you know.
Finally, we will pay for it in interest rates. The rich will not pay 3.5 trillion in taxes. They might pay two trillion. However, you can bet that even now the rich have lawyers figuring ways around paying the taxes. Hence, it will leave a big debt which the middle class will pay for… again.
Oh, by the way, you can also be sure that the rich have their bribers (AKA lobbyists) at work telling the congress what loopholes they want in the law. I assure you, the rich will not pay for it. The middle class will… in one way or the other.
The truth is that they want the bill for two reasons. It will provide income for their special constituents and it will provide power for them. Also, rule number one about finance, any time someone buys something, someone has to pay. If you get something free, someone has paid for it.