House Democrats assure themselves that their programs are popular. After all, who doesn’t love free child are?
The Inflation Party
There are few voters, however, who do not understand that nothing is free from the government, writes the WSJ.
Polls are starting to show that voters think they will end up paying for it. They are right. There are only so many rich people to soak, and Democrats are cutting taxes for most of them.
Dems’ Plan Is to Soak the Rich
- An immigration provision that would give 6.5 million or so illegal migrants who have been in the country since 2011 a 10-year right to work in the U.S.
- $8 billion methane “fee” that is in effect a tax on natural gas production. This will affect consumer energy prices.
Joe Biden’s Fibs
- “The American Gas Association estimates this could raise the average family’s natural gas bill by 17%, so this is also a violation of President Biden’s pledge not to raise taxes on anyone earning less than $400,000 a year.”
- Give affluent taxpayers who earn up to $10 million a year a huge tax cut. The provision costs the Treasury $230 billion through 2026, after which Democrats say “will raise revenue.”
Bribe for Favorable Coverage?
- $2.5 billion handout to trial lawyers to deduct their expenses for contingency-fee lawsuits.
- $1.7 billion subsidy for local journalists, most of whom are left of center.
This is part of the biggest expansion of the entitlement state since the 1960s, and maybe ever, notes the WSJ.
House Democrats say the bill spends roughly $2 trillion over 10 years, but that’s because they use gimmicks such as phasing-out programs that they have no intention of phasing out.
Independent analysts put it closer to $5 trillion over a decade if the programs are made permanent.
Americans have also begun to link the flood of government spending to inflation, which is acting like another tax. With this bill, passed in the wake of their nationwide election drubbing this month, Democrats are underscoring that they are the inflation party.
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