May 12, 2020, 6:42 PM EST.
written by Net Advisor™
WASHINGTON, DC. A group of just nine House Democrats Introduced a $3 Trillion Bill (1,815 pps PDF). Bill nationalizes One Trillion Dollars of unpaid debts created by Democratic governors.
The states:
– California (D)
– Colorado (D)
– Illinois (D)
– New York (D)
– Nevada (D)
– Oregon (D)
– Washington (D)
…have mismanaged taxpayer money for decades; under-funded their government pensions and healthcare; spent billions on pet-projects such as California’s (non-operational) $68 Billion bullet train.
Bill: No Funding for Federal 2021 Budget.
The Democrat Bill does not provide any federal funding toward FY2021 budget coming due this September. This will likely cost several trillion more dollars to fund government next year assuming no more stimulus bills.
Bill Includes (D) Wish List:
Bill would also change voting rules starting THIS (2020) election; Grants amnesty provisions to aliens in the USA who are here illegally; Provides federal benefits to illegal aliens; Targets banks in a discriminatory fashion; and provides money to foreign countries.
For U.S. citizens, Bill would provide another ‘one-time’ (taxable) $1,200 stimulus payment (up to $6,000 per household); extends $600 per week of unemployment benefits; which is on top of existing unemployment benefits through January 2021.
No Plans How to Fund Bill.
There are no plans on how to raise $3 Trillion+ interest to pay for this bill.
The bill has no support from Republicans. The House is expected to vote on the Bill by Friday, May 15th. The bill may pass as Democrats control the House, but will likely to be rejected by the GOP-controlled Senate.
The previous Coronavirus aid bills were more targeted to specific areas of need. Republicans conceded to some modifications in the last $2 Trillion aid Bill (CARES ACT), such as providing $600 per week of additional unemployment benefits at that time.
Democrats Reject Lower Taxes for Workers & Small Business.
Democrats rejected the Republican idea for tax cuts for troubled small businesses, or payroll tax cuts for workers. The payroll tax cut alone would allow taxpayers to keep more of their earned money on a continual basis as opposed to a one-time deal.
Our View.
This is the second time in recent months Democrats have sought to change voting rules in America. Democrats tried to argue to suspend the U.S. Constitution by eliminating the Electoral College.
Changing how we vote in elections, providing amnesty to illegal aliens, etc., has nothing to do with solving the Coronavirus.
The U.S. government cannot buy or keep every business and every person paid for unemployment perpetually. The result would result in an economic crash, where businesses close permanently, and jobs are lost permanently, thus tax revenues dry up.
At that point, we suspect if Democrats retained the House in the 2020 election; gained the U.S. Senate and Presidential government control, the U.S. debt would further skyrocket, and force government control over the entire economy to a Socialized system.
That would ultimately result in higher taxes, lower wages through open borders, scarce resources, and a lower standard of living affecting the Middle-class and the poor the most, as such occurred in Venezuela.
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