Trick Spending Bills Are Voodoo Economics II
The annual “trick-or-treat” ritual is over. Not so the “tricks” perpetuated by congressional Democrats about their tax-and-spend ritual, and their phony numbers.
Consider the latest spending measure cobbled together by the House Democratic leadership, or more accurately their staffs. It is 2,400 pages long, much longer than the longest book I ever read. I doubt most members have read much if any of it. It, combined with the coming social spending bill, is a Democrat wish list that addresses problems that don’t exist (climate change), the supposed inability of parents to care for their own children (“free” daycare), and creation of new entitlements that will addict voters to their party in perpetuity, which seems their goal.
The language is foreign to most English speakers and was likely poll-tested along with false promises it will not cost a dime. Forget pennies from Heaven. These are borrowed and printed dollars from Washington.
You’ve heard of the kitchen sink. This is that, the bathroom sink, and the tub. If it becomes law, the country will sink deeper in debt from which we are unlikely to recover. Even worse is yet to come with the massive social spending measure.
Treasury Secretary Janet Yellin said on CNN that the administration’s proposed tax hike on billionaires is “…not a wealth tax, but a tax on unrealized capital gains of exceptionally wealthy individuals.” Word games.
Christian Mysliwiec, commentary editor for The Daily Signal, a publication of the conservative Heritage Foundation, has written an analysis of the $1.75 trillion bill. Here are three of his lowlights:
“Childcare and Pre-K: Actual 10-year cost is likely more than twice the reported cost of $400 billion.
“Obamacare Tax Credit: Actual 10-year cost is likely much more than three times the reported cost of $130 billion.
“Child and Earned Income Tax Credits: Actual 10-year cost is likely more than 10 times the reported cost of $200 billion.
“In total, these programs would likely cost well over $2.3 trillion above the estimate in this framework over 10 years. This excess would be more than $18,700 of new spending per American household.”