The American Rescue Plan, worth $1.9 trillion, has already passed the senate in a 50-49 party-lines vote held in March. The American Jobs Plan worth around $2.3 trillion and the The American Families Plan worth $1.8 trillion take the combined total of Biden's three plans to $6 trillion, that will be spent over roughly 10 years. In order to pay for this, the president announced a series of tax initiatives that would raise cooperation tax, increase funding to the IRS to chase town tax evaders, raise marginal income tax for the top 1 percent of earners, and raise capital gains and dividend tax rates for those earning over $1 million per year. Biden also intends to crack down on multinationals, forcing US firms that make money overseas and companies who use offshore businesses to pay significantly more in taxes under his 'Made in America' tax plan. However, according to estimates, Biden's tax increases would not be enough to cover the full $6 trillion in spending across the three plans, only raising $2.37 trillion, or enough to cover just one of the three spending plans.
PIERS MORGAN: Somebody's got to pay for Santa Joe's insane $6TRILLION spending spree - and I fear it's going to be the American people
President Biden seems to have appointed himself as the nation's chief croupier - dishing out free chips to everyone, on the (White) House, writes PIERS MORGAN. He's only been in power for 100 days but has so far pledged to give away $20,000 for every single American citizen - a commitment of $60 billion for each day in office. Last night, he gave his first address to a joint session of Congress and enthusiastically pitched his $2.3 trillion 'blue-collar blueprint' American Jobs Plan and $1.8 trillion investment into 'human infrastructure'. Biden insisted he wasn't going to 'punish' anyone to pay for all this - well, apart from the rich - and definitely wasn't going to add to the tax burden for the middle class. But as he spoke, he looked and sounded more and more like Santa Claus - a benign, smiling old man announcing he was giving away free gifts to everyone.
Chinese whistleblower Yang Jisheng's book, 'Tombstone: The Great Chinese Famine 1958-1962,' is a powerful reminder that collectivism is evil:
The village felt like a ghost town. There were no animals running around, not even rats, and no living trees either. “All had been stripped of their leaves and bark by starving peasants,” he records. People ate whatever they could get their hands on, and when they were not searching for food, they barely had any energy to move or make a sound.
At the little hut his father lived in, Yang saw his father’s “eyes sunken and lifeless, his face gaunt, the skin creased and flaccid,” which reminded Yang of the human skeleton he saw in an anatomy class. Yang suddenly realized that “the term skin and bones referred to something so horrible and cruel.” Yang tried to feed his father some peanut sprouts—the only thing he could find—but his father was too weak to even swallow. He died three days later.
Despite losing his father to starvation, Yang “felt no suspicion and completely accepted what had been instilled in me by the Communist Party and the Communist Youth League.” Since the founding of Communist China in 1949, the CCP had sealed China off from the outside world. The government had a domestic monopoly on information and facts.
“From nursery school to university, the chief mission was to inculcate a Communist worldview in the minds of all students. The social science research institutes, cultural groups, news organs, and schools all became tools for the party’s monopoly on thought, spirit, and opinion, and were continuously engaged in molding China’s youth.” Furthermore, “all views diverging from those of the party were nipped in the bud.”