Which Way Wednesday – Fed Edition (plus another $1.8Bn from Uncle Joe)

$1.8 Billion!  

That’s right, it’s been more than a month since we got our last $1.9Bn in stimulus so tonight President Biden will propose another $1,800,000,000,000 in spending on things like Child Care, Education and Family Leave as part of the American Families plan.  Biden is also proposing another $300,000,000,000 for the IRS, so they can go around collecting unpaid taxes to pay for all this fun stuff.  There are also likely to be some tax increases for wealthy Americans.  Now I remember how Repblicans end up getting elected…

All of these are good things but you don’t have to fix all the wrongs overnight though maybe you do as we’ve seen that the party in power has just 4 years before the next President comes in and tries to undo everything they did so team Biden has had a very busy first 100 days in office.  This one is a bit less of a market-booster as we don’t have a lot of public companies that take care of children or educate them – that’s not the kind of behavior that Capitalism rewards, is it?  

The American Rescue Plan of March did not provide money for guns or bombs or tax breaks for the wealthy either.  This could be a disturbing trend for white, privileged Amerca, who are being left behind in the Biden bills:

This is coming right on the heels of the President’s infrastructure proposal, known as the American Jobs Plan, which calls for improving the nation’s roads, bridges, broadband, railways and schools.  It would also provide a boost to manufacturing and funnel $400 Billion into augmenting home and community-based care for the elderly and disabled and raising the wages of care workers.  It would be paid for by hiking Corporate Taxes.  The tax increases contained in the two economic recovery packages would fully pay for the investments over the next 15 years, according to the White House.

I don’t have to tell you how evil all this is, that’s what Fox News is for.  Today’s headline is, of course: “Biden to unveil massive new spending plan that critics rip as ‘redistribution’…

Provided courtesy of Phil’s Stock World.