Biden wants to spend $6 trillion

[ronki23]

Spending that kind of money will increase deficits and put America into WWII levels of debt

Biden budget: President sets out $6tn spending plan

I wanted Biden to be President but you can't blame Trump for increasing deficits if Biden wants to do the same

 

[Revoltingest]

It's time to plan investing with inflation in mind.
I don't know how soon or how bad it will be.
I must call in all loans due, & put them into
something else.
Real estate (easy to manage kind)?
Stocks?
Adjustable interest rate loans?

 

[Twilight Hue]

Spending that kind of money will increase deficits and put America into WWII levels of debt

Biden budget: President sets out $6tn spending plan

I wanted Biden to be President but you can't blame Trump for increasing deficits if Biden wants to do the same

I don't think people realize just how much money 6 trillion actually is.

 

[Lyndon]

I don't think people realize how many better paying jobs 6 trillion dollars would create

 

[Revoltingest]

I don't think people realize just how much money 6 trillion actually is.

Once an amount rises above their experience,
it all looks the same...1 billion...1 trillion...6 trillion.
If Biden is taking from some to give to others,
the "others" will approve because there's no
perception of adverse consequences.

 

[Revoltingest]

I don't think people realize how many jobs 6 trillion dollars would create

If taken in taxes from others, how many jobs would
be lost because they had less money to spend?

 

[Lyndon]

Cry me a tear for those poor millionaires

 

[Revoltingest]

Cry me a tear for those poor millionaires

Is your goal only to punish the wealthy?
No real care about jobs for lesser folk?
You missed the point that when money is taken from
one entity & given to another, there is no increase in
available money. It's spent by one, but not by the other.
Are the jobs lost by the taking offset by those created?

 

[Lyndon]

No one uses more taxpayer services and handouts than the super rich, they deserve to be paying much higher taxes and they're actually paying less percent of their income in taxes than the middle class, that just patently wrong. You take away one precious CEOs job and you can hire 5,000 people at a living wage

 

[Revoltingest]

No one uses more taxpayer services and handouts than the super rich, they deserve to be paying much higher taxes and they're actually paying less percent of their income in taxes than the middle class, that just patently wrong. You take away one precious CEOs job and you can hire 5,000 people at a living wage

Your analysis is irrefutable.

 

[PureX]

Spending that kind of money will increase deficits and put America into WWII levels of debt

Biden budget: President sets out $6tn spending plan

I wanted Biden to be President but you can't blame Trump for increasing deficits if Biden wants to do the same

Well, the problem is that America's 1% has been soaking up so much profit, and giving so little of it back in the form of taxes (that don't immediately get returned to them as military spending and corporate giveaways) that we've been unable to spend anything on infrastructure for the last 40 years. And now it's all falling apart.

So we can continue giving the richest 1% every extra cent, and let the country fall apart entirely. Or we can finally start taxing them and making them pay for the infrastructure that they and use use more than anyone else. Or we can go deeper into debt to make the repairs and updates that are so sorely needed.

You and I both know that we aren't going to suddenly start taxing the rich, because they own all the politicians that would make that happen. And we can't just let the whole infrastructure system fall apart, because even the rich would suffer from that. So we're going to do the only thing that's left: we'll continue borrowing, and increasing the debt, because our government is too corrupt, and the 1% is too greedy, to do anything else. The big surprise, this time, is that it's the democrats that will spend us into debt and then hand all that debt to the next republican administration to deal with, instead of the other way around, which is how it's been done for the last 40 years.

 

[Evangelicalhumanist]

Is your goal only to punish the wealthy?
No real care about jobs for lesser folk?
You missed the point that when money is taken from
one entity & given to another, there is no increase in
available money. It's spent by one, but not by the other.
Are the jobs lost by the taking offset by those created?

There are lots of zero-sum games like that -- stock and money markets, for example.

On the other hand, lending money at interest to someone who wishes to invest in an idea or product, can actually increase the overall wealth. The lender takes a risk, but gets richer when then borrower actually develops something that others need and will buy -- and pays back the loan. And of course, the borrower gets richer through selling his product. And those that buy the product have merely traded money for something that they would rather have. Not bad, all around.

And I think we all do better when government takes a relatively small portion of all those transactions in taxes, to pay for what a whole society needs to prosper.

And if I recall, the big melt-down of 2008 was really about all those money and stock markets, not about real wealth creation at all.

 

[sun rise]

It's time to plan investing with inflation in mind.
I don't know how soon or how bad it will be.
I must call in all loans due, & put them into
something else.
Real estate (easy to manage kind)?
Stocks?
Adjustable interest rate loans?

I have a bit of money in Individual - Treasury Inflation-Protected Securities (TIPS) I'm thinking of adding to that investment.

 

[Ponder This]

No one uses more taxpayer services and handouts than the super rich, they deserve to be paying much higher taxes and they're actually paying less percent of their income in taxes than the middle class, that just patently wrong. You take away one precious CEOs job and you can hire 5,000 people at a living wage

Some people simply don't understand how jobs are created; they don't understand how income is generated; they covet other people's money, because they believe that they can make the world a better place. They don't realize where such a path leads; they don't even understand how the current situation came to be. They justify their point of view with exactly this sort of reasoning: it's okay to covet the money of the rich because they are not worthy of having it.

 

[Lyndon]

Some people don't realize just how evil the super rich are and how they are the cause of much of our problems

 

[ronki23]

I don't think people realize how many better paying jobs 6 trillion dollars would create

Once an amount rises above their experience,
it all looks the same...1 billion...1 trillion...6 trillion.
If Biden is taking from some to give to others,
the "others" will approve because there's no
perception of adverse consequences.

Well, the problem is that America's 1% has been soaking up so much profit, and giving so little of it back in the form of taxes (that don't immediately get returned to them as military spending and corporate giveaways) that we've been unable to spend anything on infrastructure for the last 40 years. And now it's all falling apart.

So we can continue giving the richest 1% every extra cent, and let the country fall apart entirely. Or we can finally start taxing them and making them pay for the infrastructure that they use kre than anyone else. Or we can go deeper into debt to make the repairs and updates that are so sorely needed.

You and I both know that we aren't going to suddenly start taxing the rich, because they own all the politicians that would make that happen. And we can't just let the whole infrastructure system fall apart, because even the rich would suffer from that. So we're going to do the only thing that's left: we'll continue borrowing, and increasing the debt, because our government is too corrupt, and the 1% is too greedy, to do anything else. The big surprise, this time, is that it's the democrats that will spend us into debt and then hand all that debt to the next republican administration to deal with, instead of the other way around, which is how it's been done for the last 40 years.

Some people simply don't understand how jobs are created; they don't understand how income is generated; they covet other people's money, because they believe that they can make the world a better place. They don't realize where such a path leads; they don't even understand how the current situation came to be. They justify their point of view with exactly this sort of reasoning: it's okay to covet the money of the rich because they are not worthy of having it.

Too much debt slows down economic growth though; if spending is lowered then the private sector takes over. It's a fine balance between public spending and economic growth

 

[Suave]

Spending that kind of money will increase deficits and put America into WWII levels of debt

Biden budget: President sets out $6tn spending plan

I wanted Biden to be President but you can't blame Trump for increasing deficits if Biden wants to do the same

I am disappointed Biden's budget does not include student loan debt forgiveness as well as tuition free college, I'd favor this tax-payer funding for young college age adults like my daughter. Also, I'd like federal tax-payer funding to pay 60 percent of all American's Medicare approved expenditures in lieu of targeted federal government health care spending on Medicaid and Medicare. I figure student loan debt forgiveness, tuition free college and federal tax payer funding to pay 60 percent of all American's Medicare approved expenditures in lieu of the current Medicaid and Medicare health insurance programs should add just another trillion dollars or so to the already 6 trillion dollars of Biden approved annual federal spending.

 

[Suave]

I don't think people realize just how much money 6 trillion actually is.

Seven trillion dollars, the amount of money I would like our federal government to spend annually, amounts to less than a few times more than what the top one percent of Americans combined all together would earn in a year.

 

[Suave]

It's time to plan investing with inflation in mind.
I don't know how soon or how bad it will be.
I must call in all loans due, & put them into
something else.
Real estate (easy to manage kind)?
Stocks?
Adjustable interest rate loans?

I like buying and selling Schwab US REIT ETF (SCHH), commodity based ETFs (SLV, GLD) , and shares of Tesla stock (TSLA) commission-free on Robinhood with real-time quotes, market data, and relevant news.

 

[Suave]

No one uses more taxpayer services and handouts than the super rich, they deserve to be paying much higher taxes and they're actually paying less percent of their income in taxes than the middle class, that just patently wrong. You take away one precious CEOs job and you can hire 5,000 people at a living wage

According to Moody's Analytics, the American Jobs Plan (A.J.P.) will create more than 2.7 million jobs over the next decade. I suppose six trillion dollars could create nearly 9 million jobs, assuming this spending were creating the same number of jobs per capita spent as the number of jobs created per tax payer dollars of capita to be spent by the A.J.P., which is estimated by Moody's Analytics to create 2.7 million jobs at a price tag of $1.9 trillion.