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| AP Photo/NBC, Herb Ball |
U.S. must deal with Biden's belief that the era of big government is just beginning
Back in the day when “Saturday Night Live” was funny, Chevy Chase would open the “Weekend Update” segment by saying, “I’m Chevy Chase … and you’re not.”
That line came to mind over President Biden’s massive tax-and-spend proposals, which are unlike anything since FDR, after whom Mr. Biden appears to be modeling himself. The president thinks he’s a capitalist … but he’s not.
In a very short time, we have regressed from Ronald Reagan’s “government is not the solution to our problem, government IS our problem” and Bill Clinton’s declaration that “the era of big government is over” to Mr. Biden’s belief that the era of big government is just beginning.
Let’s define two terms. First, capitalism: “an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.”
Now, socialism: “a theory or system of social organization that advocates the ownership and control of the means of production and distribution, capital, land, etc., by the community as a whole, usually through a centralized government.” --->READ MORE HERE
The reckless tax-and-spend Democrat Party roars back big-time.
President Joe Biden’s $2 trillion tax-and-spend “infrastructure” plan consists of top-down government centralized planning that has no place in America’s free market capitalist system. Biden’s proposals, which he calls the "American Jobs Plan," is to be funded through one of the most massive wealth distribution schemes in American history.
The social justice warriors will welcome the Biden plan’s focus on addressing alleged racial inequalities even though infrastructure as normally defined has nothing to do with race. The activists fighting climate change will see billions of dollars pouring into funding portions of their precious Green New Deal, but they are still not satisfied.
Investopedia defines “infrastructure” as “the basic physical systems of a business, region, or nation.” Infrastructure includes “transportation systems, communication networks, sewage, water, and electric systems.” It makes sense for the government to invest some public money in such large public works. Public funding of basic upstream research also makes sense to spur further applied research and development by the private sector that may lead to major technological innovations. Economic studies have shown that private businesses are not incentivized to invest significantly in basic research that they cannot profitably commercialize in a reasonable amount of time.
No rational definition of what constitutes infrastructure, however, would include paid leave or childcare, for example. Yet Biden and his progressive allies seem to think it does.
Biden also wants to bring back the Obama administration’s failed efforts to pick winners and losers in the energy marketplace. Obama had used stimulus money to prop up green energy firms that still went bankrupt. Taking a wrecking ball to the country’s fossil fuel industry will cost many jobs and severely disrupt the energy market to the detriment of the average American. Along with sharply raising corporate taxes that will stunt economic growth, Biden’s plan will likely destroy key elements of the country’s current economic infrastructure. A capitalist economy does a far better job without the heavy hand of government intervention. --->READ MORE HEREFollow links below to related stories:
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