Biden's American Jobs Plan
-
https://www.washingtonpost.com/business/2021/03/31/deficit-cost-infrastructure-biden/
Many economic experts agree that significant investments in roads, bridges and other infrastructure is necessary for the country’s long-term health, and spending when interest rates are this low is a wise idea. But some were surprised to see that only about 5 percent of the bill is directed toward roads and bridges, and they question why the administration is mixing other types of policies into a bill designed to upgrade the nation’s infrastructure.
This is "infrastructure?"
[N]early 20 percent of the bill goes toward expanding caregiving for the elderly and disabled by building more care centers and expanding access to home-based care, and another 13 percent goes toward boosting the U.S. manufacturing sector with large investments in semiconductors and green energy. Those investments aren’t typically seen as traditional infrastructure.
Paying for it (mind you this is the Washington Post.
[The White House has] said corporate tax changes would “more than pay for the mostly one-time investments in the America Jobs Plan.”
But there’s a catch: The $2.3 trillion in spending would take place over the next eight years. It would take until 2036 — 15 years — for President Biden’s proposed corporate tax hikes to generate that much revenue. . . .
“Paying for eight years of spending with 15 years of taxes is a classic Washington gimmick that always ends up proving to not work,” said Brian Riedl, a top budget adviser to the GOP presidential campaigns of Sens. Mitt Romney (Utah) and Marco Rubio (Fla.). “By that logic, you can make the same argument that the 2017 GOP tax cuts are paid for.”
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
-
https://www.washingtonpost.com/business/2021/03/31/deficit-cost-infrastructure-biden/
Many economic experts agree that significant investments in roads, bridges and other infrastructure is necessary for the country’s long-term health, and spending when interest rates are this low is a wise idea. But some were surprised to see that only about 5 percent of the bill is directed toward roads and bridges, and they question why the administration is mixing other types of policies into a bill designed to upgrade the nation’s infrastructure.
This is "infrastructure?"
[N]early 20 percent of the bill goes toward expanding caregiving for the elderly and disabled by building more care centers and expanding access to home-based care, and another 13 percent goes toward boosting the U.S. manufacturing sector with large investments in semiconductors and green energy. Those investments aren’t typically seen as traditional infrastructure.
Paying for it (mind you this is the Washington Post.
[The White House has] said corporate tax changes would “more than pay for the mostly one-time investments in the America Jobs Plan.”
But there’s a catch: The $2.3 trillion in spending would take place over the next eight years. It would take until 2036 — 15 years — for President Biden’s proposed corporate tax hikes to generate that much revenue. . . .
“Paying for eight years of spending with 15 years of taxes is a classic Washington gimmick that always ends up proving to not work,” said Brian Riedl, a top budget adviser to the GOP presidential campaigns of Sens. Mitt Romney (Utah) and Marco Rubio (Fla.). “By that logic, you can make the same argument that the 2017 GOP tax cuts are paid for.”
@george-k said in Biden's American Jobs Plan:
[N]early 20 percent of the bill goes toward expanding caregiving for the elderly and disabled by building more care centers and expanding access to home-based care, and another 13 percent goes toward boosting the U.S. manufacturing sector with large investments in semiconductors and green energy. Those investments aren’t typically seen as traditional infrastructure.
The title says it's a "Jobs" plan, not merely an "infrastructure" plan, yet the article's author is stuck not only on "infrastructure" but "traditional infrastructure." Traditionally rechargeable battery is usually not considered "infrastructure," but going into an era of electric vehicles needing a network of electrical recharging stations and an era of renewable energy sources, "semiconductor" and "green energy" become more integral to "infrastructure."
-
Here come the price hikes.... imagine what the Corp tax increases will do, but I suspect these announcements are starting to bake that in.
https://www.cnbc.com/2021/03/31/higher-commodity-costs-lead-to-price-hikes-from-kimberly-clark.htmlWe will see about public support for all the social re-engineering.
-
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
The Brad
-
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
@lufins-dad said in Biden's American Jobs Plan:
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
To also improve the under-employment situation, perhaps.
-
@lufins-dad said in Biden's American Jobs Plan:
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
To also improve the under-employment situation, perhaps.
@axtremus said in Biden's American Jobs Plan:
@lufins-dad said in Biden's American Jobs Plan:
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
To also improve the under-employment situation, perhaps.
How?
People mostly are worth what you pay them.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
-
Very typical. Politicians always have these ambitious plans that use "optomistic" or "unrealistic" methods to pay for them.
"Oh, we expect growing of the economy to be 6% for the next 10 years"
"But the economy has not ever grow 6% for the past 100 years"
"Well, we are pretty sure it will start"
-
@axtremus said in Biden's American Jobs Plan:
@lufins-dad said in Biden's American Jobs Plan:
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
To also improve the under-employment situation, perhaps.
How?
People mostly are worth what you pay them.
@jolly said in Biden's American Jobs Plan:
@axtremus said in Biden's American Jobs Plan:
@lufins-dad said in Biden's American Jobs Plan:
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
To also improve the under-employment situation, perhaps.
How?
People mostly are worth what you pay them.
The market kind of irons that out. It's up to individuals to make themselves worth more. It's not that difficult.
-
The fault does not lie with the politicians and their unrealistic ideas. It lies with the system where there are two opposing platforms designed to appeal to a majority of the national electorate. Two low common denominators vying for supremacy. Don’t look for nuanced brilliance there.
-
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
@lufins-dad said in Biden's American Jobs Plan:
With 680,000 unemployed, why do we need MILLIONS of new jobs!?
That answers why they need to improve the teaching of STEM.
