Stop The 3.5 Trillion Dollar Bill


Stop The 3.5 Trillion Dollar Bill
The Issue
The United States debt is growing constantly, making President Biden’s 3.5 trillion dollar bill very unnecessary at this moment in time. In this bill, The President plans are stated as such: “$621 billion on roads, bridges, public transit, rail, ports, waterways, airports and electric vehicles in service of improving air quality, reducing congestion and limiting greenhouse gas emissions, $400 billion to bolster caregiving for aging and disabled Americans, $300 billion toward boosting manufacturing, $213 billion toward building, renovating and retrofitting more than two million homes and housing units, $180 billion to advance US leadership in critical technologies, upgrade the US's research infrastructure and establish the US as a leader in climate science, innovation and research and development, $111 billion to rebuild the country's water infrastructure, $100 billion to build new public schools and upgrade existing buildings with better ventilation systems, updated technology labs, and improved school kitchens that can prepare more nutritious meals, $100 billion in order to give every American access to affordable, reliable and high-speed broadband, $100 billion to workforce development -- helping dislocated workers, assisting underserved groups and getting students on career paths before they graduate high school, $18 billion to modernize the Veterans Affairs' hospitals.” -CNN. These are just the main categories, each divided into subdivisions of even more expanded loans. Even though this sounds like a great idea on paper, there are many factors that make this plan ineffective.
President Biden tweeted, “My Build Back Better Agenda costs zero dollars.” He also stated to reporters, “We talk about price tags. It is zero price tag on the debt. We’re paying — we’re going to pay for everything we spend.” How exactly is he preparing to pay for it? Taxing the rich of course. People who make more than 400,000 dollars a year will be taxed greatly even though the top 10% already pays for 40% of the taxes now. He will also raise the corporate income tax to 28% from the current 21%. Yet, this doesn’t just affect the rich, even though he claims differently. With the rise in these taxes, big corporations will raise the prices of their products. Everytime the common person goes to get groceries, builds a new house, or purchases a new car, inflation will start to make an impact. It won’t take too long to set into place either, because inflation has already been on the rise since the beginning of Biden’s office. The average citizen will end up paying for more of President Biden’s plan even though he says it will cost zero dollars. Also, it won’t be just 3.5 trillion dollars; it will continue to grow. It is estimated that Biden’s infrastructure proposal will end up costing 5.5 trillion and possibly even to 10 trillion by the end of things.
The United States debt is now up to 28 trillion dollars. If you divide the number of taxpayers in the country by the national debt, each person would owe around 229,000 dollars. If you divide the number of U.S. citizens, each person would owe around 87,000 dollars. Take into consideration that children born into the United States or legally immigrated are counted for. That basically means a five year old would have to pay 87,000 dollars to do their part in getting out of debt. It is not the responsibility of younger generations to fix the mistakes of the past. This country is in such a fragile state as it is. What President Biden and the rest of the government should really be focused on is opening up the borders again, resolving the COVID-19 pandemic once and for all, and getting people back to work. America needs to become self reliant before others can become reliant on us. If we do not do anything about our debt we will no longer be the beacon of liberty and freedom that that so many generations fought for.
212
The Issue
The United States debt is growing constantly, making President Biden’s 3.5 trillion dollar bill very unnecessary at this moment in time. In this bill, The President plans are stated as such: “$621 billion on roads, bridges, public transit, rail, ports, waterways, airports and electric vehicles in service of improving air quality, reducing congestion and limiting greenhouse gas emissions, $400 billion to bolster caregiving for aging and disabled Americans, $300 billion toward boosting manufacturing, $213 billion toward building, renovating and retrofitting more than two million homes and housing units, $180 billion to advance US leadership in critical technologies, upgrade the US's research infrastructure and establish the US as a leader in climate science, innovation and research and development, $111 billion to rebuild the country's water infrastructure, $100 billion to build new public schools and upgrade existing buildings with better ventilation systems, updated technology labs, and improved school kitchens that can prepare more nutritious meals, $100 billion in order to give every American access to affordable, reliable and high-speed broadband, $100 billion to workforce development -- helping dislocated workers, assisting underserved groups and getting students on career paths before they graduate high school, $18 billion to modernize the Veterans Affairs' hospitals.” -CNN. These are just the main categories, each divided into subdivisions of even more expanded loans. Even though this sounds like a great idea on paper, there are many factors that make this plan ineffective.
President Biden tweeted, “My Build Back Better Agenda costs zero dollars.” He also stated to reporters, “We talk about price tags. It is zero price tag on the debt. We’re paying — we’re going to pay for everything we spend.” How exactly is he preparing to pay for it? Taxing the rich of course. People who make more than 400,000 dollars a year will be taxed greatly even though the top 10% already pays for 40% of the taxes now. He will also raise the corporate income tax to 28% from the current 21%. Yet, this doesn’t just affect the rich, even though he claims differently. With the rise in these taxes, big corporations will raise the prices of their products. Everytime the common person goes to get groceries, builds a new house, or purchases a new car, inflation will start to make an impact. It won’t take too long to set into place either, because inflation has already been on the rise since the beginning of Biden’s office. The average citizen will end up paying for more of President Biden’s plan even though he says it will cost zero dollars. Also, it won’t be just 3.5 trillion dollars; it will continue to grow. It is estimated that Biden’s infrastructure proposal will end up costing 5.5 trillion and possibly even to 10 trillion by the end of things.
The United States debt is now up to 28 trillion dollars. If you divide the number of taxpayers in the country by the national debt, each person would owe around 229,000 dollars. If you divide the number of U.S. citizens, each person would owe around 87,000 dollars. Take into consideration that children born into the United States or legally immigrated are counted for. That basically means a five year old would have to pay 87,000 dollars to do their part in getting out of debt. It is not the responsibility of younger generations to fix the mistakes of the past. This country is in such a fragile state as it is. What President Biden and the rest of the government should really be focused on is opening up the borders again, resolving the COVID-19 pandemic once and for all, and getting people back to work. America needs to become self reliant before others can become reliant on us. If we do not do anything about our debt we will no longer be the beacon of liberty and freedom that that so many generations fought for.
212
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Petition created on September 30, 2021