90 Miles From Tyranny

Friday, October 22, 2021

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7 Ridiculous Items Hidden Inside Biden's $3.5 Trillion Socialist Wish List, Including Tax Breaks for Rich

Republicans on the House Committee on Oversight and Reform on Wednesday released a list of seven items they said were hidden in President Joe Biden’s spending agenda — items they called part of a “socialist wish-list.”

Democrats in the House and Senate have thus far failed to come together to pass Biden’s $1.5 trillion infrastructure bill. They are also at an impasse over what was originally a $3.5 trillion, 10-year budget to expand the welfare state called the Build Back Better Act.

If House Speaker Nancy Pelosi, Senate Majority Leader Charles Schumer and the president get their way, the country will immediately add at least $5 trillion in new debt. In addition to taking on that debt, ordinary Americans would see massive increase in government intrusion into their lives that would bad for both individuals and the country’s small businesses.

Ranking Democrats want to pass both bills together. But it appears as though centrist Democrat holdouts such as Sen. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona are standing in their way.

While it has been widely reported in recent weeks the Democratic holdouts aren’t thrilled about the price tag of Biden’s agenda, on Wednesday, House Republicans attacked the proposed spending spree in a news release.

They accused Biden and Democrats of sneaking in seven particular items they said would help corrupt people and institutions, harm the country’s middle class and abandon rural America in favor of radical climate activists.

The seven items cited by the committee Republicans are:

1. “Handouts” for the wealthy, and bailouts for failing establishment media organizations.

“Democrats are hoping to provide wealthy families and corrupt organizations tax breaks and unnecessary handouts. If President Biden has his way, families earning $800,000 can receive $118,000 in credits and elite, well-funded private universities will get a tax break,” the release stated.

“In addition, liberal news organizations with up to 750 employees are set to be bailed out. Their liberal bias has resulted in fewer Americans reading their work and President Biden hopes to provide them a tax cut to offset their losses.”

U.S. Sen. Ron Johnson of Wisconsin has called the provision a “grotesque waste of taxpayer money.

2. A cloaked “Green New Deal” that would put small businesses under.

“The Build Back Better Act is the Green New Deal in disguise. The Green New Deal is a socialist dream which will only saddle hard-working taxpayers with debt and displace millions of Americans from their jobs,” the release stated said.

“Tucked away in President Biden’s $5 trillion dollar spending spree is a Green New Deal ‘youth patrol’ and taxpayers will fund them to the tune of $3.5 billion dollars. This will only establish a slush fund for jobless climate activists.”

The release stated the lengthy bill will appropriate more than $34 billion in subsidies to “green” special interest groups.

3. Weaponizing the IRS.

“President Biden is hoping to double the number of IRS agents. Why? To target American families and businesses,” the committee Republicans stated. “Democrats are looking to funnel $80 billion to the IRS, which is six times the size of the IRS’ annual budget.”

Republicans called a plan to view ordinary banking transactions a “surveillance program” which would infringe on the privacy of “working class Americans.”

The release cites an element of the plan that would require banks to report transactions to the IRS that involve accounts that see more than $600 in transactions annually. The Biden administration backed away from that provision this week, raising the number to $10,000 in annual transactions, excluding already-taxed payroll deposits, ABC News reported.

4. Targeting American energy independence through taxes.

The Biden administration this week formally abandoned a major oil and gas drilling project in northern Alaska that would have bolstered America's energy independence and resulted in the creation of thousands of jobs.

The Department of the Interior declined on Monday to file an appeal of a federal district court decision that blocked the project, known as the Willow Master Development Plan, in the National Petroleum Reserve in Alaska, the Daily Caller reported.

The project, which was being developed by the Texas-based oil and gas firm ConocoPhillips, was slated to produce as much as 160,000 barrels of oil per day to the Trans Alaska Pipeline System, according to Must Read Alaska. The increase would have provided a 32% boost to the throughput of the pipeline, which is currently averaging less than 500,000 barrels per day.

Project summary documents show the project would have "generate[d] hundreds of direct jobs and thousands of construction jobs, and produce[d] substantial revenue for the federal government, State of Alaska, North Slope Borough, and communities in the NPR-A."

The multibillion-dollar project was greenlit by the Bureau of Land Management under the Trump administration in 2020. But after President Joe Biden's election victory, environmentalist groups sued to...

Fertilizer Shortage Means Less Food, More Expensive Food, No Food.

Chinese authorities are imposing new hurdles for fertilizer exporters amid growing concerns over surging power prices and food production, a move that could worsen a global price shock and food inflation.

Some Chinese fertilizer cargoes ready to be shipped are being held up by local authorities for additional checks or to obtain new export certificates, according to people familiar with the matter. The supplies will either end up being sold on the domestic market or face delays in being exported, said the people, who asked not to be named as they are not authorized to speak on the matter.

The increased scrutiny comes as global fertilizers costs have soared to new records, spurred by energy crises in Europe and China as coal and natural gas are important feedstocks. The cost increase comes at a particularly worrying time, with global food prices hitting a 10-year high.

The new measures implemented by Chinese authorities follow a customs regulation that kicked in on Oct. 15 requiring additional inspection of fertilizer exports. It also follows a notice from the National Development and Reform Commission, China’s top economic planner, that called for stable fertilizer supplies and prices given its importance to agricultural production and food security.

The General Administration of Customs added new inspection requirements on 29 categories of products including urea to ammonium nitrate, according to a notice this month. Despite that, the blistering rally in China’s fertilizer market shows no sign of cooling, with benchmark urea futures holding near a record.

China’s move to curb fertilizer exports will be felt around the world as it is a key supplier of urea, sulphate and phosphate, accounting for about 30% of global trade. The biggest buyers of China’s fertilizers include India, Pakistan and countries in Southeast Asia.

There are already signs that a fertilizer shortage is emerging globally. Farmers in Brazil reported that some deliveries of...