President Biden just signed his sweeping $1.9 trillion spending package into law. Once this bill hits the books, total taxpayer expenditure on (ostensibly) COVID relief will hit $6 trillion—which, roughly estimated, comes out to $41,870 in spending per federal taxpayer.
Article by Brad Polumbo from FEE.
Did you see anywhere near that much in benefit?
The sheer immensity of this spending is hard to grasp. For context, $6 trillion is more than one-fourth of what the US economy produces in an entire year, according to Fox Business. The COVID spending blowout is at least eight times bigger than the (inflation-adjusted) price tag of President Franklin Delano Roosevelt’s “New Deal.”
In the latest $1.9 trillion package, more than 90 percent of the spending is not directly related to containing COVID-19. Only 1 percent of the money, about $15 to $20 billion, is spent on vaccines. Meanwhile, hundreds of billions go to bailing out poorly managed state governments’ budget holes that predate the pandemic and $86 billion rescues failing pension plans. Meanwhile, billions more go to Obamacare expansion and subsidizing public schools long after the pandemic.
And that’s just scratching the surface.
The Math Doesn’t Add Up
The numbers here really are quite damning.
For the same $6 trillion in expenditure, the government could have given every federal taxpayer a $41,870 check. Or, to think about it a bit differently, it could have written every American roughly an $18,181 check.
Let’s compare this to what most Americans actually received.
Only someone who fully collected expanded unemployment benefits throughout the pandemic and received all $3,200 in total of the stimulus payments likely received more than $18,181 in direct benefit from this spending package. And that’s a relatively small fraction of the public.
Because of the way the government used outdated (and arbitrary) income data to determine eligibility, many more taxpayers saw nothing or little in exchange for their $41,870 share of the cost, perhaps just the initial $1,200 stimulus or none at all. (Meanwhile, billions in checks went to dead people).
So, for almost all Americans, the actual benefits of the multiple pieces of lengthy stimulus legislation come in far, far below the figure that they would have received if the entire pile of money was just even split up and sent out.
How can that possibly be considered a success? In fact, it’s actually a net negative.
Trade-Offs Are Inescapable
Too often, the stimulus conversation is simply framed around whether we should give money to a certain group of people or program—rather than also including the trade-offs and costs.
The question isn’t just: Should we send people $1,400 “stimulus” checks? It is, instead: Should we send people $1,400 stimulus checks at the cost of taking the equivalent amount (or more if you factor in waste) from other people? It’s not just whether we should send $350 billion to state and local governments—but should we do so at the cost of taking an average of $2,442 per federal taxpayer?
The Government is Not Santa Claus
Money doesn’t grow on trees. Or, as the great economist Ludwig von Mises put it, the government “does not have the powers of the mythical Santa Claus.”
“The truth is the government cannot give if it does not take from somebody,” Mises wrote in Bureaucracy. “They cannot spend except by taking out of the pockets of some people for the benefit of others.”
The government cannot create wealth out of thin air. It can only give anyone anything via three ways:
- Directly increasing taxes, which discourages economic growth and directly takes money away from people
- Running up debt, which means much higher taxes in the future plus interest, creating a drag on economic growth
- Printing money, which “stealth taxes” the public via inflation
There’s no such thing as a free lunch, and, much to the chagrin of spend-happy politicians’, Santa Claus is not real. Government spending doesn’t create wealth; it only transfers wealth, generally destroying a lot of it in the process.
So, unless Americans are actually seeing equal or greater benefit from spending compared to its cost, it’s a raw deal for taxpayers. And for the federal government’s “COVID” spending binge, it’s not even close.
Don’t believe me? Well, did you see $41,870 in benefit from these programs? Or even $18,181?
For almost everyone, the honest answer is no.
‘The Purge’ by Big Tech targets conservatives, including us
Just when we thought the Covid-19 lockdowns were ending and our ability to stay afloat was improving, censorship reared its ugly head.
For the last few months, NOQ Report has appealed to our readers for assistance in staying afloat through Covid-19 lockdowns. The downturn in the economy has limited our ability to generate proper ad revenue just as our traffic was skyrocketing. We had our first sustained stretch of three months with over a million visitors in November, December, and January, but February saw a dip.
It wasn’t just the shortened month. We expected that. We also expected the continuation of dropping traffic from “woke” Big Tech companies like Google, Facebook, and Twitter, but it has actually been much worse than anticipated. Our Twitter account was banned. One of our YouTube accounts was banned and another has been suspended. Facebook “fact-checks” everything we post. Spotify canceled us. Why? Because we believe in the truth prevailing, and that means we will continue to discuss “taboo” topics.
The 2020 presidential election was stolen. You can’t say that on Big Tech platforms without risking cancelation, but we’d rather get cancelled for telling the truth rather than staying around to repeat mainstream media’s lies. They have been covering it up since before the election and they’ve convinced the vast majority of conservative news outlets that they will be harmed if they continue to discuss voter fraud. We refuse to back down. The truth is the truth.
The lies associated with Covid-19 are only slightly more prevalent than the suppression of valid scientific information that runs counter to the prescribed narrative. We should be allowed to ask questions about the vaccines, for example, as there is ample evidence for concern. One does not have to be an “anti-vaxxer” in order to want answers about vaccines that are still considered experimental and that have a track record in a short period of time of having side-effects. These questions are not allowed on Big Tech which is just another reason we are getting cancelled.
There are more topics that they refuse to allow. In turn, we refuse to stop discussing them. This is why we desperately need your help. The best way NOQ Report readers can help is to donate. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal as well. We are on track to be short by about $5300 per month in order to maintain operations.
The second way to help is to become a partner. We’ve strongly considered seeking angel investors in the past but because we were paying the bills, it didn’t seem necessary. Now, we’re struggling to pay the bills. We had 5,657,724 sessions on our website from November, 2020, through February, 2021. Our intention is to elevate that to higher levels this year by focusing on a strategy that relies on free speech rather than being beholden to progressive Big Tech companies.
During that four-month stretch, Twitter and Facebook accounted for about 20% of our traffic. We are actively working on operating as if that traffic is zero, replacing it with platforms that operate more freely such as Gab, Parler, and others. While we were never as dependent on Big Tech as most conservative sites, we’d like to be completely free from them. That doesn’t mean we will block them, but we refuse to be beholden to companies that absolutely despise us simply because of our political ideology.
We’re heading in the right direction and we believe we’re ready talk to patriotic investors who want to not only “get in on the action” but more importantly who want to help America hear the truth. Interested investors should contact me directly with the contact button above.
As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report going.