Joe Biden has lied repeatedly to the American people.
He didn’t keep campaign promises, and he set goals that he could not deliver.
Now Biden’s absurd lie about the economy just blew up in his face.
So-called “moderate” Joe Biden is pushing for insane spending proposals.
Thirteen RINOs in the House allowed him to sign a pork-laden infrastructure bill, and now Biden and the Democrats are attempting to ram through their globalist “build back better” agenda.
Biden and other prominent Democrats have said the bill would pay for itself, but that was not true.
And the Congressional Budget Office (CBO) just said so.
The New York Times was forced to report:
“President Biden’s pledge to fully pay for his $1.85 trillion social policy and climate spending package depends in large part on having a beefed-up Internal Revenue Service crack down on tax evaders, which the White House says will raise hundreds of billions of dollars in revenue. But the director of the nonpartisan Congressional Budget Office said on Monday that the I.R.S. proposal would yield far less than what the White House was counting on to help pay for its bill — about $120 billion over a decade versus the $400 billion that the administration is counting on.”
Democrats like to claim that they can raise ungodly amounts of taxes to pay for their outrageous spending plans by simply soaking the rich.
But eventually they run out of rich people to tax.
That’s when they have to take the poor and the middle class, and they do it by inflating the currency, which raises the cost of goods and services – inflation is essentially a regressive tax.
Biden plans to raise more taxes by going after tax dodgers, but again, there are not enough rich people to go after.
Plus the one-percenters have lawyers and accountants to ensure their taxes are on the level.
Biden showed his hand when he encouraged Treasury Secretary Janet Yellin to monitor all bank accounts with $600 annual transactions, i.e. virtually all of them.
Biden claimed it was a gambit to go after “the rich” who dodge taxes, but a $600 threshold is quite clear that the real target is the middle class.
Biden’s “build back better” agenda would not only cost an obscene amount of money, it would create permanent entitlements just as the New Deal and Great Society did.
Stay tuned to Conservative Underground News for any updates to this ongoing story.