We’ve all heard the pitch: President Joe Biden’s Build Back Better™ plan won’t cost a cent.
It’s paid for. Just tax the rich. The money will magically roll in — painlessly, effortlessly. Ol’ Lunchpail Joe will hold our nation’s plutocrats by their ankles, give them a good shake, and — by Jove — $3.5 trillion will end up falling out of their pockets.
That’s how you get tweets like this one Monday from the presidential Twitter account, evincing someone who’s not living in reality: “The fact of the matter is my Build Back Better Agenda costs $0 — and it won’t raise taxes on anyone making under $400,000 a year. We’re going to pay for it by ensuring those at the top and big corporations pay their fair share.”
The fact of the matter is my Build Back Better Agenda costs $0 — and it won’t raise taxes on anyone making under $400,000 a year. We’re going to pay for it by ensuring those at the top and big corporations pay their fair share.
— President Biden (@POTUS) October 4, 2021
That’s deluded enough — but passing it off as an actual tax cut is some next-level economic gaslighting.
On Tuesday, Biden was in Howell, Michigan, pitching the Democrats’ $3.5 trillion spending bill as a necessary step for an America that’s lagging behind the rest of the world in infrastructure development.
“This is a blue-collar blueprint for how we restore America’s pride,” Biden said, according to the Detroit Free Press.
“Other countries are speeding up and we’re falling behind. We have to speed up the pace.”
Do you think most Americans support Democratic spending plans?
Yes: 3% (1 Votes)
No: 97% (29 Votes)
We’ve seen Biden’s you’ve-gotta-spend-money-to-make-money pitch since March, when he introduced the first round of exorbitant spending on infrastructure. We’ve been hearing for weeks that this latest round of spending isn’t going to cost a cent and the only people who’ll feel the pinch will be the rich, who need to step up and pay their fair share. That’s nothing new.
This line is, however: “My friends on the other team have no problem giving billionaires and millionaires gigantic tax breaks. This is a tax cut!”
Biden on his $3.5