Part of the fight over the $1.9 trillion “stimulus” package recently passed by President Biden and his allies in Congress was whether we could really afford nearly $2 trillion more in spending amid skyrocketing debt and already having spent record-levels of money ostensibly on ‘COVID’ relief. But according to a recent report, the latest legislation could prove even more expensive than we thought.
Article by Brad Polumbo from FEE.
The $1.9 trillion estimate assumes that various tax credit programs will be allowed to expire. However, a report by American Enterprise Institute economist Alex Brill concludes that this is highly unlikely—and that if they’re eventually renewed, the bill’s cost could nearly double.
“Expansions of the child tax credit (CTC), earned income tax credit (EITC), and the child and dependent care credit would be enacted for just a single year under the guise of promoting economic security during the pandemic,” Brill explains. “However, the Wall Street Journal recently reported on Democrats’ desire to make permanent the CTC expansion. In addition, the House passed a permanent version of their expansion of the child and dependent care credit last year, and it is unfathomable to imagine Congress letting the one-year EITC expansion lapse post-2021.”
Former NY Governor Andrew Cuomo didn’t listen to Dr. Zev Zelenko about Covid-19. Don’t be a Cuomo. Dr. Zelenko’s new Z-Dtox and Z-Stack nutraceuticals come highly recommended by many doctors.
The benefits related to children would alone raise the total cost by roughly 75 percent from $1.9 trillion to $3.3 trillion over 10 years. https://t.co/hpJXa3AvMy
— AEI (@AEI) March 5, 2021
Unfortunately, it is indeed unfathomable that Congress would allow these programs to fully lapse. There will be a strong political constituency for continuing the spending and because the costs are disparate, far less of one clamoring for them to be allowed to expire.
Hence, as Milton Friedman famously put it, “Nothing is so permanent as a temporary government program.”
So, we have to do the math on what it will mean if these expenditures are ultimately furthered. And Brill estimates that expanding these portions of the bill would increase its total cost by 75 percent, for an ultimate price tag of $3.3 trillion. That astounding figure comes out to roughly $23,028 per federal taxpayer.
That’s a lot more money—and more fundamentally and importantly, a lot more actual resources transferred from private ownership to government control.
WATCH: Economist on the COVID Debt Crisis
Yes, We Need Your Help
I hate being “that guy” who asks people to donate because I think our conservative news network is so crucial, but here I am…
When I left my cushy corporate job in 2017, I did so knowing that my family would have to make sacrifices. But I couldn’t continue to watch the nation slip into oblivion and was inspired by President Trump’s willingness to fight the good fight even at his own personal expense. What I didn’t realize then is that conservative media would be so heavily attacked, canceled, and defunded that the sacrifices would be extreme.
Many in this nation are struggling right now even though we weren’t struggling just a few years ago. I’m not alone. But I wake up every morning and operate the sites we’ve been able to build because there’s really no other choice. I refuse to be beholden to Big Tech like so many other conservative news outlets, which is why you won’t see Google ads here. With that said, it’s often challenging to pay the bills and it’s even harder to expand so we can get the America First message out to a wider audience.
The economic downturn has forced me to make a plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our new GiveSendGo. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
We currently operate:
- NOQ Report
- Conservative Playlist
- Uncanceled News
- Based Underground
- Truth Based Media
- Five other conservative news sites
I would even be willing to entertain investments and partnerships at this stage. I’ve turned them down in the past because editorial purity is extremely important. I’ll turn them down again if anyone wants us to start supporting RINOs or avoid “taboo” topics like voter fraud, vaccines, or transgender supremacy. But I’d talk to fellow America First patriots who want to help any (or all) of our 10 news sites. Hit me up at jdrucker (at) substack (dot) com if you’re interested.
For those who have the means and just want to help keep the mission of spreading a conservative, Christian message to the nation, please consider a generous donation.
All ORIGINAL content on this site is © 2021 NOQ Report. All REPUBLISHED content has received direct or implied permission for reproduction.
With that said, our content may be reproduced and distributed as long as it has a link to the original source and the author is credited prominently. We don’t mind you using our content as long as you help out by giving us credit with a prominent link. If you feel like giving us a tip for the content, we will not object!
JD Rucker – EIC
@jdrucker