My hot-take on the President’s State of the Union Address
Before I even get started on the content of the address itself, I have a question: Given that everyone (presumably) in the chamber last night is fully vaccinated for COVID-19, just who were they wearing the masks for?
Lots of people are giving their take today on the #SOTU Address. Here is mine: I watched for 105 minutes yesterday of a President that thinks you and I are fools. Biden’s plan to pay for all sorts of child care and education expenses would cost according to some estimates, $1.8 tr. That’s on top of the proposed $2.3 tr in infrastructure. That’s a total bill of $4.1 trillion. To put that in perspective, the US brought in $3.46 tr in tax revenue in 2019. That means that if 100% of ALL income taxes collected went JUST to those two schemes and nothing else, $0 for military, $0 for FEMA and other emergency relief, nothing but those two items, we could not pay for them. Assuming a national debt of roughly $28 tr: If we dedicated 100% of tax revenue to pay down our existing debt, it would take about 8 years. If you believe that raising taxes on the rich and corporations would cover that, I have a bridge in Brooklyn I’d like to sell you. This means, either Biden is an economically illiterate fool, or he thinks you are.