Per the NY Post Editorial Board, a former treasury official and budget expert has looked at the numbers on Biden’s American Jobs Plan and it’s not at all what Biden is claiming:
President Biden is using accounting gimmicks to make his proposed spending “look smaller” and tax revenue “larger,” cautions ex-Treasury official Bruce Thompson at the Washington Examiner. The actual cost of his American Jobs Plan over 10 years is “at least $3.5 trillion,” not the advertised $2 trillion; its revenue, after tax hikes, $1.7 trillion. So “only about half” the spending is paid for. In all, “the real projected cost of the three Biden spending plans is at least $7.2 trillion” over 10 years, less than half covered by tax hikes. And that doesn’t include interest on the higher deficits, likely “hundreds of billions” more.
Actually it’s worse than what this former treasury official has calculated. Biden just deployed another gimmick, saying today that anyone making under 400k a year won’t pay a single penny in taxes:
PRES. BIDEN: “Anybody making less than $400,000 a year will not pay a single penny in taxes.” pic.twitter.com/37GkyPeY1K
— Breaking911 (@Breaking911) May 3, 2021
How that’s a tax plan I can get behind! BIDEN 2024!
Ok ok I know, it was just another Joementia blunder. Boy he really is full of these!
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Author: J.C McCallum
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