Hurry up, America, and do the right thing; buy all the infrastructure you need
Here is the “radical,” “far-left” agenda items that the Democrats want to provide the American public:
- expanded tax credits for lower- and middle-income families,
- universal pre-kindergarten,
- affordable childcare,
- two years of free post-secondary education,
- more health care premium subsidies for Obamacare,
- high quality elder care,
- more funding for public housing and infrastructure,
- technologies to fight/accommodate climate change,
- electric buses and cars,
- improvements to the power grid,
- residential solar technologies.
And the minority party has declared: “one-hundred percent of our focus is on stopping this new administration”.
Why?….Because, unlike the Trump tax-cuts for the rich, the opposition is now saying these items are unaffordable; we cannot “pay-for” such a “socialist” agenda.
The truth is, as a monetary-sovereign, America can afford to own the best infrastructure available. “Paying-for” is not the problem; America cannot run out of dollars.
The true limit to what America can buy, is the resources available. The question should be not whether we can “pay” for the infrastructure (we can), but rather how do we “resource” it? Sadly, both political parties are stuck on the “pay-for” question; the Republicans saying we can’t afford it, and the Democrats saying we will pay for it with taxes on the rich. Both are wrong!
Taxes do not pay for anything. Taxes can function to discourage certain spending behaviors, but they never fund government spending; all government purchases are paid for with newly created money, and all tax dollars are cancelled upon receipt.
The planet’s resources are finite, but historically, Human economic advancement is the story of technological innovation; “squeezing” more out of what was always thought to be insufficient resources. Education, basic scientific research, and ingenuity are all things that the government can afford to fund.
We hope Churchill continues to be right about America:
You can always count on Americans to do the right thing — after they’ve tried everything else.
Hurry up, America, and do the right thing; buy all the infrastructure you need.