The top number in the Build Back Better plan does NOT stand on it’s own. The effect on the economy is much larger than that top number.
First. The GOP tax RATE cuts in their last plan was about 2 trillion. Lots of that money went to the top .1%ers. It went to top management bonuses, stock buy-backs, and even huge amounts of dividends being paid out to foreign investors. None of these things did much to enlarge the economy. Money that goes into savings or investment do NOT grow the economy.
The Democratic plan is different. Democrats put the money into more middle class pockets. When money goes to middle class recipients, that money gets spent. But it just doesn’t get spent once.
The middle class person who receives that money spend it for immediate goods. Then, the middle class entrepreneur that earned that money the first time around, spends it again in the economy. Then the person who earns that money from that business, spends it again in the economy.
Soon, that 3.5 Trillion progressives were advocating for becomes 7 trillion, and the third time it’s spent in the economy it becomes 10.5 trillion in economic expansion. On top of that, each time that money is spent, taxes are collected on that money. And soon, because that money is spent and taxed each time it turns over in the middle class economy, that economic expansion has cost taxpayers NOTHING!
The GOP doesn’t understand this. Or they do and they are just malicious. But you can’t trust Republicans with your money. They’ll convince you that there is savings from NOT making the BBB expenditure. But that is just NOT true at all.
