By John Kanelis / johnkanelis_92@hotmail.com
President Biden’s many decades in government taught him a hard lesson, which is that everything the government does comes with a cost.
Taxpayers have to foot the bill.
He pushed a COVID relief package through Congress. He now wants to enact an infrastructure overhaul through the legislative body. Both of them together are projected at around $4 trillion.
Ouch … yes? Yes, but here’s the deal: In order to pay for all this, the president seeks to levy taxes on the wealthiest Americans. Now he is talking about an increase in capital gains taxes.
Donald Trump talked about infrastructure deals, too. Nothing happened. Congress didn’t move anything through. The president never articulated a way to pay for whatever it was he wanted done. He seemed to suggest that the tax cuts he rammed through Congress would jumpstart the economy sufficiently so that any major government project would pay for itself.
It didn’t happen. Then the pandemic brought the economy to its knees.
Trump lost his re-election bid and now a new president is trying to craft a workable plan to pay for a massive effort to rebuild our economy.
The tax plan already pushed out there will not increase taxes to a level prior to the cut enacted during the Trump years. It still gives congressional Republicans fits, so they’ll fit it along with everything else that the Democratic president proposes.
Reasonableness be damned!