Biden’s student loan “cancellation” scheme is impolitic, unfair, expensive and irresponsible. The price tag will be about a half trillion dollars. Most of that money will go to upper income households. Who will pay for it? It will cost the average taxpayer over $2,000.
It’s clearly an election year scam, one perfectly timed to try to gin up votes for a president whose approval ratings make him toxic on the campaign trail. House Speaker Nancy Pelosi previously suggested Biden’s move would be illegal: “the president can’t do it. That’s not even a discussion.”
Government enforced price controls on any product triggers a long chain of consequences, predictable by historians and economists. The unhappy results of government price controls is known, at least to some critics, as “the Curse of Diocletian.”
There is a very real possibility that these AC units could do little to keep the most vulnerable cool. And that’s not necessarily because of climate change, but because New England’s electric grid could soon have to use California’s method of rolling blackouts to maintain a semblance of civilization.
The bill includes $369 billion in total climate spending, and will give the EPA more than $40 billion in the current fiscal year to combat climate change and secure “environmental justice.” The EPA’s enacted budget for 2022’s fiscal year was about $9.5 billion.
The shameless hypocrisy of the Biden administration is on display through mouthpiece Kamala Harris, who has condemned widespread public criticism of the recent FBI invasion of President Donald Trump’s home.
According to analysis by the Congressional Joint Committee on Taxation, nearly all Americans would see increased taxes by 2023. The average tax rates would increase in nearly all income categories, according to its analysis, including lower income individuals such as those earning less than $10,000.
President Joe Biden and the Democrats are proposing to double the size of the IRS by adding over 86,000 agents, most of whom will be assigned to enforcement. If this bill passes the Senate every American could see their chance of an audit go up.
In the Senate, 17 Republicans inexplicably voted for this transgression against taxpayers. In the House, 24 Republicans voted for it. Only one non-Republican Member of Congress — Sen. Bernie Sanders — voted against it.
U.S. gross domestic product decreased by 0.9% in the second quarter of 2022, according to new data from Bureau of Economic Analysis, signaling the start of an economic recession in the U.S.
Primerica released the report, which found that 75% of middle-income families “say their income is falling behind the cost of living,” an eight-point rise since March. The poll found only 16% of those surveyed think they will be better off financially in a year.
A new poll released by the Job Creators Network Foundation finds that more than 2 out of 3 small businesses feel negatively about the economy and that nearly 3 out of 4 of them will have to “significantly” raise their prices to offset rising inflation.