Apr 5, 2021
Business school taught me that it is okay to finance long term assets like plant and equipment because those assets will be generating revenue for many years to service that debt. But President Joe Biden wants to finance long term infrastructure assets with current taxes. At the same time rapidly increasing non-discretionary spending (i.e., transfer payments to pay for immediate needs) are financed with long term debt. That’s backwards and makes no sense. In this podcast, the Edifice of Trust host, Victor Bolles looks at the real reasons for this tax hike and also points out some shortcomings in the infrastructure plan.