Biden's American Rescue Plan is Catholic social doctrine in action

Biden's American Rescue Plan is Catholic social doctrine in action 

The big bet Democrats are making is that increasing unemployment to $300 a week over the current amount, plus a child tax credit, will not result in plenty of money and too few workers. This would be bad. Hyper-stagflation bad. 

The benefit should be tied to work - and increasing the minimum wage would get people back to work faster. Work should include being paid to become economically functional. This means ESL to GED to vocational/technical training or an Associates degree. Tuition must be free and students paid.

Biden should sell Child Tax Credits as an essential pro-life option and shame the bishops into doing the same. It should have been an essential pro-life vote. Casti Connubii is very clear on this point - more so than other encyclicals. Casti is quaint in its attitude toward marriage, but Pius XI gets the economics right.

The Republican talking point was about the debt. The reality is that 80% of the debt held in bonds and mutual funds is owned by 10% of the population. What was the Pareto 80/20 rule has become the 80/10 rule - Applying that rule, the top 1450 households hold a third of all bond and mutual fund wealth, and all other liquid assets as well. Such people have their members of Congress and the Senate on speed dial - and vice versa,  

At some point, interest rates may go up, with the Federal Reserve either making more money, more bonds creating more leverage for more liquidity in the financial markets or removing it as people sell stocks and buy bonds. No one is sure where the system breaks.

Higher income individuals with fewer children may be paid less. Indeed, this would be a good outcome, unless you are a person in that strata and you make donations to Republican Senators.

Better pay also disturbs the supply of low wage workers. The stated goal of Republican economic policy is to not make things so good that people have no incentive to better themselves. Actual research shows the opposite, which is what Republicans really fear - that decent compensation will decrease the supply of low wage workers, especially brown people.