Biden’s Economic Strategy Cause Democrats To Question His Economic Plan More Than They Did To Trump

The Build Back Better Act is based on tax dollars and can’t be free without amping up the IRS to go after American bank accounts. There’s an oppressive feeling about giving the IRS more power than they already have, and most people say, “Just don’t cheat on your taxes, and it will be fine.”

It won’t be acceptable. Tax laws are already extensive enough, leaving Americans confused a lot of the time, and if they aren’t complicated, they’re paying someone else to do their taxes, which is taking more out of their bank accounts.

A lot of the inflation we’re seeing is our economic structure stabilizing after the Covid-19 pandemic and the massive spending of the federal and state governments, which is why it’s important to let our economy settle down before we spend even more.

There are a few things incorrect. The Congressional Budget Office says, “the bill will add about $750 billion to the deficit over the next five years and about %160 billion over ten years as written.”

That means that all eyes are on the IRS to get as much money as possible. Federal involvement usually causes prices to rise. With so many tax credits going toward children and daycare, it’s going to cost the government more than the citizens who raise taxes.

The bill doesn’t necessarily directly outline what the IRS will do with the massive amounts of extra money. A portion of the Build Back Better Act says the IRS will beef up investigations, but it doesn’t say who they’re looking at or what they’re looking for. The fact that there’s a suggestion for the IRS to look into American bank accounts that send or receive $10,000 or more is a sign that President Joe Biden’s administration is looking for something, and it’s not billionaires. Billionaires are generally covered under the law because they hire accountants and attorneys to handle their finances. It’s average Americans who can’t afford those people that ultimately suffer.

So the main point is if we’re feeling inflation from last year’s spending, what will we think next year and the year after that? It can’t be good. It’s compiling on top of each other and sending us spiraling into government control as prices rise and the government pushes more mandates on businesses. Luckily, at least for right now, the Covid-19 vaccine mandate has been tabled, even by OSHA.

Pew Research Center took a poll to determine the public’s perception of the economy. First, let’s go over this graph.

Under former President Donald Trump, Democrats would say that the economic conditions of the U.S. were excellent/good at a low point (before 2020) of 39%, and today under Biden, it’s 34%. Republicans are much different. They labeled the economic condition under Trump at a high point of 81% (before 2020) and now 16% under Biden. Both Democrats and Republicans are concerned about the country’s future economic status, and Biden is ignoring that data. For this graph and example, 2020 was left aside because it was a tumultuous time for Democrats and Republicans and didn’t represent normal conditions.

Democrats are turning on Biden because they don’t trust him. He says one thing and does another and has no absolute stability.