analyticsbox | Dec 08, 2021
We are making the same mistakes again -
look at history!
The proposed Build Back Better program is an effort to increase ‘tax and spend’ policies of the government, further redistributing the resources of this country. The New York Times compared it to the ‘smashing success’ of the War on Poverty from the 60’s which was, according to President Johnson, to ‘eradicate poverty among its people’. While the goal might have been noble and ‘sounded good’, the real results were spectacularly different.
The War on Poverty has failed by any thoughtful analysis. This is described in our Facts, No Spin #10.
As President Johnson said, ‘For so long as man has lived on this earth, poverty has been his curse’. That historically is true and changed starting in the late 1700’s with the industrial revolution and new democratic societies that were created which allowed people the freedom to pursue their own interests for their own sake. Poverty plummeted in these societies and standards of living dramatically improved. In the mid-1960’s the Great Society programs tried to eradicate poverty with major redistribution programs - and failed. The U. S. has spent $22 Trillion and has nothing to show for it, the poverty rate is remains unchanged over the past 50 years.
Build Back Better is much like the War on Poverty. A thoughtful analysis of these ideas should quickly lead to the conclusion that major redistribution programs are not the answer to improving the lives of our population. These programs do not grow the economy, which is what it takes to improve our lives, they do just the opposite. In Facts, No Spin #16, we describe what policies will improve our economy for the benefit of all.
The PBS (political bull shit) surrounding this is breathtaking. Almost nothing that has been said about BBB is accurate. And the urgency to get it passed before anyone really knows the details and the true scoring of its impact tells us a lot. It will not stand up to scrutiny. It is bad policy for the long-term improvement of our economy and our standard of living.
THE CRITICAL ECONOMIC ISSUE IS NOT WHAT CAUSES POVERTY, BUT WHAT CAUSES PROSPERITY! HINT: IT IS NOT BIGGER GOVERNMENT AND MORE TAXING AND SPENDING.
In our next Facts, No Spin email, we will examine some of the details of BBB so we can understand why this program is ill conceived and should be scrapped.
THE BOTTOM LINE
Build Back Better is just repeating the failures of the past. It is not good policy and will not improve our standard of living. It simply adds to the size and power of the government. And it increases the Federal Deficit and Debt, a huge problem that no one wants to tackle. Time to punt and work on good economic policies which will help our economy grow.
UNDERSTAND ECONOMICS, THEN VOTE SMART.