I didn’t read the huge $ 1.2 trillion infrastructure bill, spanning 2,700 pages. I have, however, read and listened to several news comments about this monstrosity with one salient observation; the Senate’s bill only provides that 23 percent of the total expenditure is used for the actual financing of the infrastructure repair / renewal.
The most common concern, however, is that the proposed bill also has a funding gap of around $ 500 billion. Where should the money come from?
In the event of a shortfall, the answer to the above question is always answered in the same way: increase taxes. At a time when the unemployment recovery is slow and inflation, gasoline prices, food, wood and almost all raw materials are rising significantly, tax hikes will lead to economic destruction … and put a significant financial burden on the lower and middle classes. We will all pay dearly. I’ve heard many times that there won’t be any hikes for lower and middle class taxpayers – but in the past there has been no hesitation in introducing federal IRS taxes on Social Security income. When it was passed, Senator Biden voted twice for this measure: first, SS income for those with gross incomes of $ 25,000- $ 34,000 will be taxed at 50%, and second, those over $ 34,000 will be taxed at 85%. Imagine…
I believe that most citizens have a reasonable understanding of what infrastructure means: roads, airports, waterways and ports, bridges, pipelines, power grids and tunnels. I want those who voted for this priceless bill to explain what the following points in the bill have to do with infrastructure:
– Funding for electric vehicle implementation programs – $ 175 billion
– Provide toll-free community colleges for the states – $ 12 billion
– Expand broadband internet with federal government control – $ 100 billion
– Government Controlled Childcare Programs – $ 25 billion
Just think about it, one trillion dollars equals one thousand billion and one billion equals one thousand million …
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