Dilip Vishwanat/Getty Images; Samantha Lee/Insider This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Joe Biden plans to pay for his climate, infrastructure and jobs bill with higher taxes instead of deficit spending
Democratic politicians have been scared off from ambitious deficit spending to avoid spiking interest rates imposed by so-called bond vigilantes.
But investors demand safe assets like federal debt, so rates are extremely low, and the Federal Reserve can keep them low.
Alex Yablon is a Brooklyn-based journalist and Contributing Opinion Writer.
This is an opinion column. The thoughts expressed are those of the author.
Latest Articles
freerepublic.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freerepublic.com Daily Mail and Mail on Sunday newspapers.
Robinhood CEO Vlad Tenev GameStop, Reddit frenzy fix makes no sense
businessinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessinsider.com Daily Mail and Mail on Sunday newspapers.
Leftism Is A Luxury Good And Its Awful Price Will One Day Be Due
January 13, 2021
As the year dawns, the two biggest financial proposals from Democrats are eliminating college loans and repealing the limit on the federal income tax deduction for state and local taxes. If this seems at odds with the traditional leftist rhetoric about helping the poor, that’s because it is.
Twenty-first-century progressivism is a witch’s brew of payouts and tax cuts for the upper-middle class, mixed with bizarre social theories from name-brand universities. The Democratic Party has ignored the farmers, factory workers, miners, and other laborers who once numbered among its most stalwart supporters.