Joe Biden and the American Rescue Plan is designed to stimulate the economy. It is the anti- Trickled Down Economics package.
It will increase taxes on major corporations and businesses that gross over $5 million. The lost revenue since the 1980s would probably allowed us to start catching up to the national debt.
It will raise income taxes for those making over $400,000 a year.
It will create jobs while repairing aging infrastructure in our nation. In many places bridges, roads, waterways, ports, power grid and etc have fallen into disrepair. The money people get from the jobs will boost the economy and provide tax revenue. Better infrastructure will allow businesses access to power, better logistics….
You have to spend money to make money.
Raising the national debt level is a good idea. The debt should be considered a percentage of GDP not as a set amount. If we held the national debt to $75 million as it was in 1880 there would be no point in borrowing at all.
It is one of the best ideas we’ve had in a long time.
Trickle Down Economics was fed to the Neo Cons (1981) by a giant calling himself Erwin Rommel who was actually Karl Marx. Karl Marx was an economist. The plan was to fool them into increasing the wealth gap and weakening the middle class. It was also intended to create homelessness on a rampant scale. In turn, resentment toward the wealthy and the government would create a emotional reaction leaving people vulnerable to socialist doctrine. Cohorts in academia would be able to feed it to the young.
Sound crazy? Look around; it’s working.
The American Rescue Plan is a solution that will begin to undo this sabotage. The socialists don’t like the plan. Unsurprisingly, “ace in the hole” Democratic Senator Joe Manchin and his buddy Republican Senator Moscow Mitch McConnel have been trying to derail it.