Manchin caved, and there is now a Build Back Better deal in the Senate

[C3D]

As a time of off the charts inflation, a recession, crippling energy prices, and all that jazz, I can't wait to see how many trillions the Democrats plan to spend on this deal.

Manchin, Schumer in surprise deal on health, energy, taxes

Senate Majority Leader Chuck Schumer and Sen. Joe Manchin announced Wednesday they had reached an expansive agreement that had eluded them for months.

www.seattletimes.com

 

[ronstar]

I will NOT hold my breath. Manchin is a notoriously sleezy DINO who always cuts & runs at the last moment. He is a great disservice to West Virginia.

 

[ronstar]

Yep, its all over the news. Manchin says the deal will reduce inflation.

In other news, Senate just passed a bill to make USA tech more competitive with China.

Senate Passes $280 Billion Industrial Policy Bill to Counter China (Published 2022)

The bipartisan vote reflected a rare consensus in the otherwise polarized Congress in favor of investing federal resources into a broad industrial policy to counter China.

www.nytimes.com

Stock market up 4% today.

Same-sex law will likely pass Senate with 65+ votes.

Day full of good news for America.

 

[Saltwater60]

Yep, its all over the news. Manchin says the deal will reduce inflation.

In other news, Senate just passed a bill to make USA tech more competitive with China.

Senate Passes $280 Billion Industrial Policy Bill to Counter China (Published 2022)

The bipartisan vote reflected a rare consensus in the otherwise polarized Congress in favor of investing federal resources into a broad industrial policy to counter China.

www.nytimes.com

Stock market up 4% today.

Same-sex law will likely pass Senate with 65+ votes.

Day full of good news for America.

I don’t understand how any moron thinks taxing people and businesses more will make inflation decrease. Prices will be increased to make up for the difference.

 

[ronstar]

I don’t understand how any moron thinks taxing people and businesses more will make inflation decrease. Prices will be increased to make up for the difference.

Taxing big spenders like the Super Wealthy will reduce spending and reduce the deficit.

 

[4WHLDRFTN]

 

[Defilade]

Taxing big spenders like the Super Wealthy will reduce spending and reduce the deficit.

Because is worked so well in the past....

 

[ronstar]

Because is worked so well in the past....

Actually, it worked pretty well for Bill Clinton. He had a budget surplus after raising taxes on the wealthy.

 

[Saltwater60]

Taxing big spenders like the Super Wealthy will reduce spending and reduce the deficit.

Funny not even the democrats say that.

How the Build Back Better Act Would Reduce Inflationary Pressure and Cut Costs for Families - How the Build Back Better Act Would Reduce Inflationary Pressure and Cut Costs for Families - United States Joint Economic Committee

www.jec.senate.gov

Keep in mind that increased tax is only on 1.8% of people. I highly doubt 1.8% of the USA population is driving this inflation and taxing them will solve it. How will this help with the incoming goods and inflation in our trading partner countries?
I bet it does little, but we will likely never know because the emergency stop button is getting pressed right now. The economy is coming to a screaming haunt and on Thursday we will be in a recession. Oh wait Biden changed the definition of recession to get him out of it.

 

[Saltwater60]

Actually, it worked pretty well for Bill Clinton. He had a budget surplus after raising taxes on the wealthy.

Just like Biden saved us so much money right now and reduced the budget right? The deficit will climb a few years after he leaves office because of what he’s doing now and you all will blame the next republican president for it. Biden only stopped spending temporary Covid money and that’s it.

 

[GOYABEAN]

C'mon man I need my big guy 10% cut

 

[tirwin1]

Yep, its all over the news. Manchin says the deal will reduce inflation.

In other news, Senate just passed a bill to make USA tech more competitive with China.

Senate Passes $280 Billion Industrial Policy Bill to Counter China (Published 2022)

The bipartisan vote reflected a rare consensus in the otherwise polarized Congress in favor of investing federal resources into a broad industrial policy to counter China.

www.nytimes.com

Stock market up 4% today.

Same-sex law will likely pass Senate with 65+ votes.

Day full of good news for America.

Like I said. Reflexively spouting democratic talking points.

 

[ronstar]

Funny not even the democrats say that.

How the Build Back Better Act Would Reduce Inflationary Pressure and Cut Costs for Families - How the Build Back Better Act Would Reduce Inflationary Pressure and Cut Costs for Families - United States Joint Economic Committee

www.jec.senate.gov

Keep in mind that increased tax is only on 1.8% of people. I highly doubt 1.8% of the USA population is driving this inflation and taxing them will solve it. How will this help with the incoming goods and inflation in our trading partner countries?
I bet it does little, but we will likely never know because the emergency stop button is getting pressed right now. The economy is coming to a screaming haunt and on Thursday we will be in a recession. Oh wait Biden changed the definition of recession to get him out of it.

Manchin says the deal will reduce inflation. I doubt he's lying.

 

[tirwin1]

Manchin says the deal will reduce inflation. I doubt he's lying.

You just called him a notoriously sleezy DINO. But now you take his word the bill (no details provided) will reduce inflation.

What kind of meds are you on exactly?

 

[GOYABEAN]

You just called him a notoriously sleezy DINO. But now you take his word the bill (no details provided) will reduce inflation.

What kind of meds are you on exactly?

 

[C3D]

I think tax increases right now will in fact reduce inflation, but at the cost of turning an already serious recession into a disaster.

 

[ronstar]

I think tax increases right now will in fact reduce inflation, but at the cost of turning an already serious recession into a disaster.

Not if we only increase taxes on the wealthy & corporations. Do you remember what the corporations did with the 2017 tax cuts? They used it to buy back stock, not hire more employees or reduce prices.

 

[SomeSoldier]

You just called him a notoriously sleezy DINO. But now you take his word the bill (no details provided) will reduce inflation.

What kind of meds are you on exactly?

Sounds like a 90's chat room bot to me.

 

[Jchrisls]

Not if we only increase taxes on the wealthy & corporations. Do you remember what the corporations did with the 2017 tax cuts? They used it to buy back stock, not hire more employees or reduce prices.

Look, the wealthy are wealthy because they are motivated, intelligent and money smart. They will find ways to avoid paying any additional taxes as always. Although I haven't read the bill yet you can be absolutely certain that the TEAMS of CPA'S the wealthiest employ will make certain thier tax burden isn't impactful to them in nearly any way.

 

[Jmac00]

In an abrupt announcement, he and fellow Democrat Schumer said the measure would raise $739 billion over 10 years in revenue, the biggest chunk coming from a 15% corporate minimum tax.

American corporations will be moving off shore ~~~~ again, and there goes all there $739 billion. NO tax for you

 

[C3D]

Not if we only increase taxes on the wealthy & corporations. Do you remember what the corporations did with the 2017 tax cuts? They used it to buy back stock, not hire more employees or reduce prices.

Well that's a crock of shit right there. Do you work for the Democratic council of economic malpractice advisers?

 

[ronstar]

Well that's a crock of shit right there. Do you work for the Democratic council of economic malpractice advisers?

Actually it's a fact. Corporations used most of their saved tax dollars to buy back stocks, rather than make Capital investments.

 

[ronstar]

American corporations will be moving off shore ~~~~ again, and there goes all there $739 billion. NO tax for you

I am curious to see what the CBO analysis of this plan would show.

 

[C3D]

Actually it's a fact. Corporations used most of their saved tax dollars to buy back stocks, rather than make Capital investments.

Let's assume that's true for the sake of argument (which I don't concede). What's wrong with a corporation buying back stock? That has been put forward as a Democratic boogeyman time and time again.

 

[C3D]

Actually it's a fact. Corporations used most of their saved tax dollars to buy back stocks, rather than make Capital investments.

And to fight that point, you should read up on the massive impact of Section 179 Bonus Depreciation from the 2017 tax cuts and the large capital investments that directly resulted from the 2017 Trump tax cuts.

 

[ronstar]

And to fight that point, you should read up on the massive impact of Section 179 Bonus Depreciation from the 2017 tax cuts and the large capital investments that directly resulted from the 2017 Trump tax cuts.

If you can find an article showing that corporations made massive investments in capital and new hiring as a result of the 2017 tax cuts, I will gladly read it.

 

[Jmac00]

If you can find an article showing that corporations made massive investments in capital and new hiring as a result of the 2017 tax cuts, I will gladly read it.

ATT&T paid it employees a $2000 bonus due to 45's tax cuts, all 60,000+

United Airlines did a similar pay out of $1000. 45 made so many cuts that corporations started to move manufacturing back to America.

Why don't you do the class a favore and define PROFIT, go ahead, we'll wait. After all you seem to be a expert in Macroeconomics

 

[Jmac00]

no response, not surprising

 

[Benny]

Actually, it worked pretty well for Bill Clinton. He had a budget surplus after raising taxes on the wealthy.

Oh boy, the surplus myth as defined by Democrats

The Myth of the Clinton Surplus

www.craigsteiner.us

Clinton surplus myth

 

[tirwin1]

I will NOT hold my breath. Manchin is a notoriously sleezy DINO who always cuts & runs at the last moment. He is a great disservice to West Virginia.

And here you go. Still think your boy is a DINO?

Joe Manchin and Chuck Schumer Strike a Deal, $370 Billion for Green New Deal Energy Transition, Tax Increases to Pay for it and More IRS Agents - The Last Refuge

Two weeks ago, CTH warned everyone that Joe Manchin’s torpedoing of the $500 billion Green New Deal senate spending program was a head fake; he was always going to sign up to expand the control of the federal government over energy use. Today Manchin and Chuck Schumer made it official. The...

theconservativetreehouse.com

You are an ignorant idiot.