Biden's Stimulus Plan is Mostly Bad News for Small Businesses; Unrelated Amendments in COVID-19 Relief Bill Only Add to Overcriminalization, and other C-Virus Updates

 Illustration by Linas Garsys/The Wash Times

Biden's stimulus plan is mostly bad news for small businesses:

Joe Biden’s $1.9 trillion stimulus plan — a spending blowout — has in it both good news and bad news for America’s small business owners.

For starters it’s … well … a spending blowout. And it comes at a time of unprecedented government deficits, a national and public debt that’s now 1.4 times our entire gross domestic product, and on the cusp of what most economists believe is the beginning of a very strong recovery, considering that vaccines are rolling out, construction, manufacturing and service indexes are strong, small business confidence remains at good levels and many consumers are itching to spend their pent up savings.

Small businesses can’t do a thing about these terrifying deficits, and even terrifying deficits are less terrifying in a low interest rate environment. But what if those same interest rates significantly rise in the future? It will mean austerity or default. It will mean severe budget cuts, reduced spending and crushingly higher taxes. Maybe that’s not a problem for small businesses today. But it could very well be a catastrophic problem in the not-so-distant future. Who knows for sure? No one knows for sure, and definitely not the economists or the politicians making these decisions. I’m sure.

So deficits could be a problem later, but here’s a problem that the stimulus plan is creating right now: much higher compensation costs. --->READ MORE HERE

Photo: Cheriss May/Getty Images

Unrelated Amendments in COVID-19 Relief Bill Only Add to Overcriminalization:

Congress is very good at two things: spending money and thinking up duplicative—and, therefore, unnecessary—ways to criminalize many aspects of our daily lives.

The latest COVID-19 relief bill does both.

As for the former, the $900 billion price tag speaks for itself. As for the latter, the new bill tackles the issue of illegally streaming copyrighted works for profit.

Huh?

Protecting intellectual property is important, but putting this provision in a bill filled with pork makes it look like more of the same.

For one thing, as far as we can tell, it’s not related to COVID-19 or providing solutions to any of the myriad problems stemming from the pandemic. Maybe too many people have been bingeing on their favorite shows for free during the lockdown?

We joke, of course, but the manner in which the COVID-19 relief bill was passed, with members of Congress being given only a few hours to “read” its more than 5,500 pages, and the fact that many unrelated provisions, such as this one, were included, invite problems to occur. --->READ MORE HERE

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