Neighborhood Ministries

President Biden’s budget is insane. He says that he is going to tax the rich and not the middle class, but it is nothing but a shell game where you try to guess where the money comes from. The rich get their money from corporations they own or investments. President Biden says he is taxing corporations. They don’t print money, they have to earn it through selling products or services. Corporations get the money to pay the increased taxes from increasing the price of their goods or services, which you and I must purchase, or by laying off workers or denying them a raise to cover the increase cost of living. Without pay raises, the paycheck doesn’t buy as much since things cost more, so it is the same as cutting their wages. The budget also includes taxes on stocks and other investments. However, people invest in corporations to get a profit. If there is no profit due to increased taxes, they will invest their money elsewhere. That will mean less money available to corporations to expand their business or upgrade it to keep it competitive. If they can’t compete, they will lose money which will result in more layoffs and maybe closing the business. He says he isn’t taxing the average American, but he really is. He is just doing it in a way that you don’t realize he is doing it.

It is amazing to see the way the present administration is playing the American people. Two banks have folded in the last week and President Biden has stated that the federal government will guarantee depositors  get all their money, but it won’t cost the taxpayers anything. It will be interesting to see where the money comes from because the federal governments gets its funds from the taxpayers. He may think he can just charge it to the national debt but not unless he gets the debt limit raised and borrows the money. Even if he borrows the money, it will have to be paid back sometime and that money will have to come from taxpayers. It is like he thinks the American people gave him a credit card with no debt limit. That is foolish thinking. He is pushing a fantastic raise in the national debt with his budget and says Congress has to raise the debt limit to accommodate the increased debt. Ever since President Clinton began the brinkmanship over the budget, liberals have pushed huge  increases in debt and forced Congress to raise the debt limit to accommodate it by refusing to negotiate on the budget until it comes down to passing the budget or shutting down the government. Conservative representatives feel it is better to accommodate them then shut down the government, so they give in. When I was growing up, that was called blackmail, but apparently they feel it is just politics. We cannot continue to increase the debt limit to accommodate the out of control spending. Americans seem to be blinded by the prospect of getting free money from the government and don’t stop to think that they are the ones providing the money that they receive.