Joe’s Infrastructure Plan:
CNN:
- $621 billion for transportation
- $400 billion for home health care services
- $300 billion for manufacturing
- $213 billion for housing
- $180 billion for research and development
- $111 billion for water infrastructure
- $100 billion for digital infrastructure
- $100 billion for schools
- $100 billion for workforce development
- $18 billion VA hospitals and federal buildings
How is Joe going to pay for it?
- Raising the corporate tax rate from 21% to 28%. BTW, this doesn’t take it back to 35% which is where it was before the Trump tax cuts
- 15% minimum tax on book income
- 21% global minimum tax on corporations
- Corporate inversions crackdown
There is a lot to digest here.
I’ve already quibbled about how the wealth tax and raising the capital gains tax have been shelved and omitted from this plan. It also looks like the SALT deduction cap which was part of the Trump tax cuts is shaping up as a line in the sand for Democrats who represent wealthy districts.
There are plenty of things in this plan which I support in principle like investing in hard infrastructure like roads, bridges, ports and airports (things which we wanted to happen under Trump which went nowhere like the border wall), raising the corporate tax rate and investing in broadband infrastructure. In one of my podcasts with Richard Spencer, we both agreed that pushing through stimulus checks and an infrastructure bill would be the smartest political move for the Democrats.
My initial thoughts on thing is something to the effect of … boy, aren’t the True Cons in Congress sorry now that they didn’t jump at the chance to pass Trump’s pathetic $200 billion infrastructure bill in 2017? Aren’t they sorry now for screwing us on that $600 stimulus check on Christmas? By always saying NO to everything no matter how reasonable, they have taken down their own party in Congress.
$2 trillion dollars is far more money than Steve Bannon ever talked about it and chances are this thing is going to pass through budget reconciliation in some form. Manchin is on board with a huge infrastructure bill. Joe is planning to use his two remaining shots at budget reconciliation to do this. This is also only half of it. “Fiscal conservatives” have no one but themselves to blame for this.
Note: “Fiscal conservatives” for Joe Biden. This was actually a huge thing in the wealthy suburbs! This is happening because the Red Dogs voted for it! LMAO!
Joe is getting all his advice from Obama. His plan is a plan to nowhere. Most of that money is going into the pockets of politicians and other bureaucracy.
Yes, I doubt very much that the $2 trillion will be spent on anything worthwhile, like rebuilding the Interstate highway system or modernizing the power grid.
I just read that maybe $200 billion will go towards actual infrastructure projects, the rest will disappear down the usual liberal bureaucratic rat-holes. Like I said before it’s going to cost around $3 trillion to completely rebuild and modernize America’s infrastructure systems. $200 billion is little more than a down payment.
This is just another giant grifting operation. It won’t stop until these idiots wreck the financial system.
John C. Calhoun, HW?
I like Jackson and Calhoun
They both came from the Palmetto State!
How is this guy gonna avoid a war? He’s got no way out than externatilizing the aggressions.
The interstates need a lot of work. The federal government has abdicated it’s responsibility to the states for a federal highway system so you get issues like a poor state like Oklahoma expected to spend all the money building a much needed interstate heading northeast out of Dallas to meet up with I44 near Joplin. The federal government needs to pay for this priority corridor that is now funneled onto an old US 69 and stops to go through small town with Boss Hog type corrupt speed traps.
The interstate system really isn’t finished, new population centers have sprung up since the Eisenhower era and very few diagonal routes were built. For example there is no direct route from the upper midwest to the Carolinas, an interstate between Dayton and Charleston WV needs to be built. Also one from Denver to the Southeastern States. Then there is the existing routes that are now heavy with traffic and need to be 6 lanes instead of 4 along with outdated cloverleaf interchanged mixing 25 mph merging traffic with 70 mph main traffic some of which is trying to get off in that exact same small space. The correct safest way we have learned to connect two controlled access highways is high speed flyover ramps. With electronic speed regulators and monitors snitch devices commercial trucks are now limited as to their speeds and if one truck’s “65mph limit” is set one twentieth of a mph faster than another’s it takes 5 minutes clogging the left lane to pass the other. One a heavily traveled two lanes in each direction interstate like I-65 I-80 or I-94 this causes a huge backup of faster automobile traffic to pile up in the passing lane waiting for this disruption to finally end so they can get back up to faster automobile speeds. Of course instead of fixing the roads I expect the liberals to give us a bunch of “green boondoggles” like bike paths.
We should enthusiastically support Biden’s plan. I was expecting something similar on infrastructure from President Kushner.
Cracking down on corporate inversions is a must if we care about stopping offshoring. It directly impacts our livelihoods. America First!
The 15% minimum on book income is nice too. It prevents giants like Amazon from gaming the system and basically paying zero tax.
Higher corporate taxes mean we the people have a stronger collective voice in how resources are directed, rather than billionaire CEO BLMers. And since the resources are spent here, it means we create jobs here.
Not raising the capital gains tax on our greatest allies is the only blemish. If the Dems do more good stuff than woke stuff, they may even gain seats Congress.
You guys crack me up. You do understand that corporate taxes are passed along as higher prices to the consumer? Do you also understand that Dems are flooding the country with people whose very presence will lower wages, raise housing prices, raise healthcare and insurance prices, and add to general social problems for all of us?