Voodoo Economy II: The Cost of “America’s Fundamental Transformation”

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The annual “Trick-or-treat” ritual is over. This is not the case with the “stuff” perpetuated by Congressional Democrats about their tax-and-spend ritual and fake numbers.

Consider the latest spending measure concocted by the Democratic House leaders, or more specifically, their staff. It is 2,400 pages long, much longer than the longest book I have ever read. I doubt most members have read a lot, if at all. This, combined with the upcoming social spending bill, is a Democratic wishlist that addresses issues that don’t exist (climate change), parents’ supposed inability to care for their own. children (“free” daycare) and the creation of new rights that will make voters addicted to their party in perpetuity, which seems their goal.

The language is foreign to most English speakers and has likely been tested by polls with false promises that it won’t cost a dime. Forget the pennies in the sky. These are dollars borrowed and printed in Washington.

You’ve heard of the kitchen sink. That’s it, the bathroom sink and the tub. If it becomes law, the country will sink deeper into debt from which we are unlikely to recover. Worse still is to come with the massive measure of social spending.

On CNN, Treasury Secretary Janet Yellin said the administration’s proposed tax hike for billionaires is “… not a wealth tax, but a tax on unrealized capital gains. exceptionally wealthy individuals ”. Word games.

Christian Mysliwiec, editor of The Daily Signal, a publication of the conservative Heritage Foundation, wrote an analysis of the $ 1.75 trillion bill. Here are three of its weak points:

“Childcare and pre-kindergarten: The real cost over 10 years is probably more than double the reported cost of $ 400 billion.

“Obamacare Tax Credit: The actual cost over 10 years is probably much more than three times the reported cost of $ 130 billion.

“Child Tax Credits and Earned Income: The real cost over 10 years is probably more than 10 times the reported cost of $ 200 billion.

“In total, these programs would likely cost well over $ 2.3 trillion above this framework’s estimate over 10 years. This surplus would represent more than $ 18,700 in new spending per American household.

It is, to recall a phrase, “the voodoo economy”.

Beyond the monetary cost, there would also be a sociological price to pay. Children will be brought up with the values ​​of paid educators and without parental love. The measure would discourage work, as we have seen with checks sent to people during the pandemic who were reluctant to return to work.

Mr Mysliwiec also notes that the bill “will subsidize single parenthood, including among adolescents, thus lowering the likelihood of children being raised by a married mother and father … fewer children will experience social success and ascension. social, and low-income Americans will be left behind.

It advances liberal (aka progressive) “soft low-expectations fanaticism” because it tells minorities that they have little or no chance of succeeding without federal help. We have been hearing this for decades. If government alone, or even government primarily, could get people to make good decisions for themselves and for the country, wouldn’t they have done it already? Billions of dollars have been spent on programs that broke the promises of those who created them. What about the many people who have succeeded on their own by making the right decisions? Forget them because they don’t help the Democrats’ narrative.

I’m not pessimistic, but if these spending bills become law, which is still uncertain given the opposition of some Democrats, it will only accelerate our decline, with massive debt being one of the factors contributing to the demise of other nations that have engaged in extravagant spending.

Our enemies, which now include national enemies, as well as foreign ones, are eager to achieve their goal of “fundamentally transforming America.”

• Readers can email Cal Thomas at tcaeditors@tribpub.com. Look for Cal Thomas’ latest book, “America’s Expiration Date: The Fall of Empires and Superpowers, and the Future of the United States” (HarperCollins / Zondervan).


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