President Joe Biden wants to become the $6 Trillion Man with his immense new spending plan he proposed Wednesday night in a speech at The Capitol.
Biden proposed to add $4 trillion to his already $2 trillion spending on various projects that I can not really lay out here because his speech seem disjointed and lacked the necessary specifics to even criticize.
However one thing I do know is you cannot spend $6 trillion and pay for it “without increasing the deficit,” and “only taxing the rich” that’s for sure, despite Biden’s claims to be so.
Biden told the 200 lawmakers in the House chamber, “The American Jobs Plan is going to create millions of good paying jobs — jobs Americans can raise a family on,” Biden said. “And all the investments in the American Jobs Plan will be guided by one principle—Buy American. Buy American.”
“American tax dollars are going to be used to buy American products, made in America, to create American jobs. That’s the way it’s supposed to be and it will be in this administration,” Biden said.
However, minutes later, Biden made clear he would be raising the corporate tax rate to more than 39 percent. That sounds like a plan that may drive some American companies abroad. Perhaps to motto will be Bye America, Bye America.
Afterwards Sen. Tim Scott offered the Republican rebuttal slamming Biden’s tone deaf call for national unity while still calling America a country rife with “systemic racism.”
“Hear me clearly: America is not a racist country. It’s backwards to fight discrimination with different discrimination. And it’s wrong to try to use our painful past to dishonestly shut down debates in the present,” Scott said.
On the partisan $2.3 trillion infrastructure bill Scott chastised Democrats by saying, Democrats “won’t even build bridges to build bridges.”
All in all the Biden speech jumped all over the place with far less meat on the bone to even access the potential damage the $6 trillion plan could inflict on the economy.