Biden's claim on the cost of the $3.5 Trillion BBB Plan

[CivilDiscourse]

Biden claims the cost of the plan is $0.

Do you believe him that the $3.5 Trillion dollar plan will cost $0?

[Cow Poke]

Hey, Jen Psaki backed it up, so it's gotta be true!

[Mountain Man]

It's government math. Like when they overspend less than they had planned, it's called a "saving", and when the cost of a government program increases at a slower rate than anticipated, it's called a "spending cut".

If the average citizen managed his finances the way the government does, he'd be bankrupt within a month.

[rogue06]

Biden claims the cost of the plan is $0.

Do you believe him that the $3.5 Trillion dollar plan will cost $0?

Posted something about that along with a bunch of other stuff a couple days ago:

[...]

Source: Biden White House's lies a matter of life and death

Lie 6: The cost of the Democrats’ $3.5 trillion social welfare bill is "zero" dollars.

Biden said this on Friday, when talking about slaying imaginary "trillionaires" with a mystery-box bill no one has a clue about. “It is a zero price tag on the debt ... It’s going to be zero, zero," he said.

The math doesn't need elaborating. $3.5 trillion is not zero.

With so many lies, is it any wonder that Biden’s approval level has plummeted from 61 percent in January to 37 percent in September among independent voters, according to a Gallup poll.

Gaslighting only goes so far. This is a lesson many a politician has learned the hard way. Underestimate the intelligence of the electorate at your peril.



Source

© Copyright Original Source

And he's got some in the MSM willing to carry his water for him on this.

WaPo columnist Catherine Rampell was on CNN's Reliable Sources pushing this line bemoaning how it was "misleading" for anyone to focus on the $3.5 trillion price tag (apparently because she thinks that it was going to be paid for by massive tax hikes including on businesses and corporations^[1]). The host, Brian Stelter, asked Rampell to elaborate, "And why is the number misleading? Why is that $3.5 trillion figure misleading?" and she did.

"Because it doesn't represent anything. It's a weird shorthand used but the bill itself will not cost $3.5 trillion in the sense it will be entirely paid for"

She repeated Biden's farcical claim that "the actual cost will be smaller than that, perhaps zero" but immediately added that "I think that's unlikely."

Sooo... if something is entirely paid for then it doesn't cost anything? That sounds like AOC economics.

Then WaPo's supposed "Fact Checker," Glenn Kessler, responded, but not to correct his colleague but in defense of her "creative accounting."

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Uh, does Kessler not understand that just because you pay for something that doesn't mean it doesn't cost anything.

For instance, if Kessler and Rampell go out for dinner and pay the tab, did that mean that their meals didn't cost anything? If one of them has a flat tire and writes a check or puts it on their credit card in order to pay for a new tire, does that mean it didn't cost anything because it was paid for?

Only in D.C. will such nonsense be taken seriously.








1. Back in 1975 Ronald Reagan effectively launched his presidential campaign on the Tonight Show with Johnny Carson. He did an incredible job pointing out that when you raise taxes on a company, it is simply added into the cost of production and passed onto the consumer. So the business doesn't "pay" any taxes, it "collects" them.

Go to just over 3 minutes in.

[Sparko]

All government money comes from taxes. So if he is spending $3.5 trillion, and raising taxes to "pay for it" it is no different than any other government spending where they spend tax dollars. It is still spending $3.5T and he is raising taxes to pay for it.

What he is trying to claim is that the ordinary tax payer won't be paying for it, only the "super rich" who need to "pay their fair share" - which is complete BS. The super rich are the people who actually fund all of the politics and people in Washington, including getting Biden elected. That's where they get all that extra money they have beyond their government salaries. That's who pays for their campaigns, which are coming up again next year. So Biden claiming to tax them is just more BS. They will still have their loopholes and ways to pass down any tax hikes to the ordinary middle class guys who will get stuck with the bill.

[rogue06]

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With the end result...
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[Sparko]

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[rogue06]

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The little ditz needs to watch that video of Reagan with Carson. What an unbelievable moron.

[Sparko]

The little ditz needs to watch that video of Reagan with Carson. What an unbelievable moron.

Companies have to pay employees and make a profit. If their taxes goes up, then that means the money they have available to pay for supplies, manufacturing, salaries all goes down. They have to raise prices to cover the difference. That means the consumer ends up paying the taxes.

In fact all of the money the company has comes from the consumer, right? So the consumer is always the one paying the taxes and expenses and all that. And the consumer is usually the middle and lower classes.

[rogue06]

Companies have to pay employees and make a profit. If their taxes goes up, then that means the money they have available to pay for supplies, manufacturing, salaries all goes down. They have to raise prices to cover the difference. That means the consumer ends up paying the taxes.

In fact all of the money the company has comes from the consumer, right? So the consumer is always the one paying the taxes and expenses and all that. And the consumer is usually the middle and lower classes.

Aside from raising prices they will cut back on raises and other benefits for their employees as well to help absorb the new cost.

[Sparko]

Aside from raising prices they will cut back on raises and other benefits for their employees as well to help absorb the new cost.

Maybe they can cut back on their donations to the Democrats instead.

[seanD]

All government money comes from taxes. So if he is spending $3.5 trillion, and raising taxes to "pay for it" it is no different than any other government spending where they spend tax dollars. It is still spending $3.5T and he is raising taxes to pay for it.

What he is trying to claim is that the ordinary tax payer won't be paying for it, only the "super rich" who need to "pay their fair share" - which is complete BS. The super rich are the people who actually fund all of the politics and people in Washington, including getting Biden elected. That's where they get all that extra money they have beyond their government salaries. That's who pays for their campaigns, which are coming up again next year. So Biden claiming to tax them is just more BS. They will still have their loopholes and ways to pass down any tax hikes to the ordinary middle class guys who will get stuck with the bill.

If that were true, we wouldn't have a national debt problem.

[Sparko]

If that were true, we wouldn't have a national debt problem.

well yeah, they can always just print more or borrow it from China.

[seanD]

well yeah, they can always just print more or borrow it from China.

The spending and debt is so insanely high, whether they raise taxes or not, US is still going to have to print just to keep up with the interest on the debt we already have because at some point, the inflation is going to get so bad, the federal reserve will have to raise interest rates. The higher the interest rates, the more this will increase the need to print money, which will increase inflation. At this point, it's become a vicious loop and there's no way out of it.

[Sparko]

The spending and debt is so insanely high, whether they raise taxes or not, US is still going to have to print just to keep up with the interest on the debt we already have because at some point, the inflation is going to get so bad, the federal reserve will have to raise interest rates. The higher the interest rates, the more this will increase the need to print money, which will increase inflation. At this point, it's become a vicious loop and there's no way out of it.

Crypto?