so folks another four and a half
trillion dollars in federal spending is
just what the country needs right no
i don't think so senate democrats on the
budget committee have proposed the
budget resolution
that would give us four and a half
billion dollars four and a half trillion
dollars and they're very proud of it
and so is president biden so i hate to
be the skunk at the garden party
i don't want to be the guy that takes
away the punch bowl but i really think
most folks know
that we already have a post-pandemic
economic boom and whether it's temporary
or not
there's a big increase in inflation so
seriously
do we really need another four and a
half trillion in spending
now let's just say this priced out over
10 years that means
450 billion dollars a year in new
spending we already had 2 trillion in
emergency spending just
last march and the federal reserve has
been buying
two-thirds of all new treasury debt so
they'd be pumping in another
300 billion dollars or so per year
in high-powered cash and trust me that
is not going to diminish inflation
the economy is set to grow i don't know
close to
eight nine or ten percent in the second
quarter and probably another six to
eight percent in the second half of the
year
so again do we really need this new
spending really
i see a couple democrats like mark
warner of virginia and joe manchin of
west virginia and of course
republican stalwarts like rob portman of
ohio they agree
that all this spending should be paid
for
okay but in my mind the only thing worse
than the spending
is the massive tax hike that washington
thinks will finance
these gigantic new budgets of course
it's futile
because the multiple tax hikes on
businesses and investors
and foreign corporate profits will
damage the economy
not help it expected revenues will never
materialize we go through this
all the time that's why i hope democrats
really do use dynamic scoring
because the results of dynamic models
will show massive
economic and job and wage losses
you tax something more and you get less
of it that's the laffer curve
these spending plans will put us on the
wrong side
of the laffer curve plus enormous sums
spent on so-called climate change
which will ruin america's energy
independence even though
there is no existential climate threat
as we reported last night business
completely
opposes these tax hike plans
from the business roundtable on down
small business groups like the nfib the
national federation of independent
business
totally oppose these tax hikes let me
repeat a stat
the biden tax hikes are seven times
bigger than the trump tax cuts what does
that tell you
well it tells me we're headed for
economic decline
this irs expansion put in
80 million dollars they're never going
to try to
raise the kind of money congress is
looking at it'll just create more
conservative attacks and conservative
censorship
like the lois lerner episode years ago
it'll also totally invade our privacy
and by the way
americans really don't cheat on their
taxes i'm sorry
the vast vast bulk of taxpayers abide by
the law
and they take advantage of lawful
credits and deductions
lower tax rates and a broader base would
generate revenues
not another 100 000 irs agents
so let me ask another one do we really
need this infrastructure bill really
president trump has attacked it he's
worried that republicans are being
lulled into a green new deal
funded by much higher taxes than the
bipartisan gang thinks
it's a good point why didn't we just
stay with the 400 billion infrastructure
bill
that was reported unanimously out of
committee two years ago
it was bipartisan we're going to spend
that money anyway
but do we need another 600 billion i
don't think so
i do not think so problem is
democrats you know they don't really
care about growth
they care about redistribution they care
about taxing the rich
they care about class warfare they're
not concerned about giving up our tax
sovereignty to europe and the g20
i call all this woke economics what's
woke economics it's against free
enterprise
it's against free markets it's against
incentives
it's against rewarding success it's in
favor
of massive statist regulatory controls
along with gigantic tax burdens to
finance the washington swamp bureaucracy
you know where woke economics leads us
it leads us to economic
decline it leads us to the road
to socialism it leads us to
international weakness
folks we don't need this 4.5 trillion
tax and spend package this here is a
solution
in search of a problem and precisely
because the economy
is booming i continue to say
if it ain't broke don't fix it