Another massive spending proposal by President Joe Biden on infrastructure is a Christmas tree Democrats intend to hang any ornament it wants on, according to presidential strategist Dick Morris on Newsmax TV.
“This is a Christmas tree,” Morris told Saturday’s “The Count.” “They say a Trojan horse; it’s really Christmas tree and hang any ornaments on it you want.”
Sen. Joe Manchin, D-W.Va., is a moderate voice of reason in the Senate, who could end talk of doing away with the filibuster and keeping Democrats and independents who caucus with them from getting to 50 voters, forcing a tiebreaking vote from Vice President Kamala Harris.
“They’re hoping they can get it through with reconciliation,” Morris added to co-hosts Alison Maloni and Andrew Giuliani. “Manchin may not let that, but they’ll strike while the iron is hot loaded on.”
Morris said there is no longer a concern from Democrats about how to pay for massive spending initiatives, instead just firing up the money printing press at the U.S. Treasury.
“This is not a borrowing spree,” Morris said. “We’re not spending a trillion and borrowing a trillion, and who we getting it from, and what are the strings attached. We’re not borrowing from anybody. We’re printing the money.
“We’re simply creating the money under the assumption that nobody will mind and everybody will accept the dollar as being worth anything. We’re off the gold standard, of course. And the protection is that every other country is being as irresponsible as we are.”
And the talk about raising the corporate tax rate is not a viable argument, according to Morris, because it will make the U.S. noncompetitive in the world, hurt gross domestic product, and leave less money to cover the government spending.
“It’s not 28% – when you add on state and local – it becomes 36% and the United States was No. 1 in corporate taxes under [former President Barack] Obama. It was No. 14 under [former President Donald] Trump, and it’s now going to be No. 1 again under Biden, making it very hard to compete.”
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Source: Newmax
