The Democrat cartel

[leh-nerd skin-erd]

5 minutes ago, ALF said:

 

I wrote in John Kasich  fwiw . Trump destroyed any chance at bipartisan cooperation for who knows how many years.

Friend, you’re wrong.   This bill is a prime example of “bipartisan cooperation” that we’ve seen from people like McCain, Kennedy, Romney, McConnell, Pelosi, Swallowell and the like.  The problem is that you think it’s about you, me, and the rest of the merry patriots here. It’s about them. 

They get rich, power coagulates in Washington, and while your righteous vote for Kasich may have made you feel better in some small way, they’re getting under your britches while you’re Erin Brokoviching in a mail in vote that means nothing.  To boot, in spite of decades of this crap happening right in front of your collective eyes, 85 mill vote for exactly this type of thing and blame the guy who was trashed by this insiders you want in charge AND was in Washington for what amounts to a long layover on flight from JFK to Miami.  
 

 

 

 
 

 

[All_Pro_Bills]

1 hour ago, Over 29 years of fanhood said:

that’s a side show. The real story is this guy was a democrat publicly railing Biden administration against border crisis a week ago, and now all the sudden the last 3 years of suspect filings were ‘discovered’. 
 

coincidental?  

In politics I don't think there are any coincidences..

[Unforgiven]

 

Let me paraphrase so you don't need to watch the dumb arm flapping...

 

WE JUST ROBBED YOU TAXPAYERS AND YOUR GRANDCHILDREN BLIND

[B-Man]

     I particularly like the "OTHER" category ----  $45 Billion

 

Good Lord, D.C. is God Awful

 

 

[Chef Jim]

3 hours ago, ALF said:

 

Yep what goes around comes around

 

So that's what it's all about to you? Stick it to the "other side"?  You (and a bunch of others here) are what's wrong with this country.  

[ALF]

Just now, Chef Jim said:

 

So that's what it's all about to you? Stick it to the "other side"?  You (and a bunch of others here) are what's wrong with this country.  

 

That's what partisan politicians do , does that surprise you ?

[Backintheday544]

2 hours ago, B-Man said:

     I particularly like the "OTHER" category ----  $45 Billion

 

Good Lord, D.C. is God Awful

 

 

It think this pie chart really highlights the differences between the Democrats and the Republicans.

 

Each party had a chance at a reconciliation bill right after the Presidential election. Per yours, we can see lower and middle class people are getting benefits from the bill.

 

We can contrast that to the reckless tax cut bill by the Republicans:

 

 

 

Their law was for the richest 20 percent and foreign investors.
 

This law is for the American people.

[Over 29 years of fanhood]

1 hour ago, B-Man said:

 

 

Um a tax law is NOT a spending bill.

 

Perhaps your post illustrates the difference between how people view the entrenched state.

 

 

Spending bills and Tax cuts are all gifts from the almighty government.............we are helpless without them.

 

No individual thinking required.

 

 

 

 

he is correct though. Tax cuts tend to benefit those with higher income. Since the bottom 50% barely have any tax liability, it’s hard to reduce a tax burden of zero. 
 

I looked it up today as I was curious though,  while the rates moved down, revenues went up despite the tax cuts. I suspect because of the SALT cap and there were some amnesty provisions that forced offshore corporations to bring revenue on shore for taxation as a one time ‘opportunity’. I knew a guy who offshored an IT business that was grappling with the financial decision. 

 

SALT cap helped because it stopped NY and CA residents from hiding behind property taxes on their massively expensive homes with huge federal tax deductions. Ironically it was a tax increase on the rich, But in typical fashion all the democrats I know were inflamed. “I meant raise taxes on other people, not me. I’m not rich in my $900,000 3 BR ranch house.” 
 

But the good, this unfunded dem laundry list can get republicans to resume lying about caring about fiscal responsibility, and it’ll probably help froth the market for a few more months.
 

I plan on continuing to read the bill and try to guess where some of the green energy money (ya know because Covid) will funnel to in case there is a short term stock play.
 

[transplantbillsfan]

Sooo.... first I actually want to applaud those of you Trump supporting long timers at TBD who actually stuck around rather than fleeing to that "other" place that's shunned all left-leaning thought by banning those posters in order to create a more perfect echo chamber.

 

With that said, in Trump's first year he passed a tax plan that adds more to the National debt than Biden's American Rescue Plan does and instead of targeting lower and middle class Americans, Trump gave most of the benefits of his tax plan to himself and his rich buddies.

 

Unless you're someone who's not going to see any benefits from Biden's plan--and congrats if you are because that means you're pretty fortunate--maybe you should wait a hot minute to see how this all pans out.

[transplantbillsfan]

5 hours ago, B-Man said:

 

 

Um a tax law is NOT a spending bill.

 

Perhaps your post illustrates the difference between how people view the entrenched state.

 

 

Spending bills and Tax cuts are all gifts from the almighty government.............we are helpless without them.

 

No individual thinking required.

 

 

 

 

 

Taxes impact Government funding and based on funding, thus increasing the national debt.

 

Semantically they're no different (other than Biden's plan being better ) in terms of the whole "look at what we're leaving to our Grandkids!!!" argument.. though even with that... much of this Covid Relief package goes directly to those Grandkids right now, unlike Trump's tax cuts.

Edited March 11, 2021 by transplantbillsfan

[transplantbillsfan]

7 hours ago, Unforgiven said:

 

Let me paraphrase so you don't need to watch the dumb arm flapping...

 

WE JUST ROBBED YOU TAXPAYERS AND YOUR GRANDCHILDREN BLIND

 

By giving your Grandchildren money as directly as you can?

 

Republican Presidents consistently run up our national debt more than our Democratic Presidents, yet Republicans claim to be the "Deficit Hawks." Why is that?

 

I'm sorry but I just mosied back into PPP on a whim tonight and clearly made a mistake. This is just more confirmation that a disturbing minority of our voting population (though still very much a minority, to be clear) has made a bed ridden with crap, been offered a new bed, but is choosing to lie in it.

[Backintheday544]

8 hours ago, Over 29 years of fanhood said:

he is correct though. Tax cuts tend to benefit those with higher income. Since the bottom 50% barely have any tax liability, it’s hard to reduce a tax burden of zero. 
 

I looked it up today as I was curious though,  while the rates moved down, revenues went up despite the tax cuts. I suspect because of the SALT cap and there were some amnesty provisions that forced offshore corporations to bring revenue on shore for taxation as a one time ‘opportunity’. I knew a guy who offshored an IT business that was grappling with the financial decision. 

 

SALT cap helped because it stopped NY and CA residents from hiding behind property taxes on their massively expensive homes with huge federal tax deductions. Ironically it was a tax increase on the rich, But in typical fashion all the democrats I know were inflamed. “I meant raise taxes on other people, not me. I’m not rich in my $900,000 3 BR ranch house.” 
 

But the good, this unfunded dem laundry list can get republicans to resume lying about caring about fiscal responsibility, and it’ll probably help froth the market for a few more months.
 

I plan on continuing to read the bill and try to guess where some of the green energy money (ya know because Covid) will funnel to in case there is a short term stock play.
 

The SALT cap doesn’t hurt the wealthy. Under the prior law, SALT was an add back for AMT (still is but now that it’s capped it doesn’t matter).

 

So anyone subject to AMT anyways never received a deduction for SALT since it was an AMT add back.

 

The people it hurt we’re more the middle class who used the SALT deduction but didn’t make enough to pay AMT prior to TCJA.

 

As for rising revenues, the nominal change from what I’ve seen is increased but the real change and the projected non-TCJA revenues are both deficits.

[Backintheday544]

10 hours ago, B-Man said:

 

 

Um a tax law is NOT a spending bill.

 

Perhaps your post illustrates the difference between how people view the entrenched state.

 

 

Spending bills and Tax cuts are all gifts from the almighty government.............we are helpless without them.

 

No individual thinking required.

 

 

 

 

Frivolous tax cut bills at a time when they weren’t needed are a de facto spending bill. 
 

Say you make $1,000 a month. One month you have an addition expense of $600, so you really only have $400 to spend.

 

The next month, you have a pay cut of $600 so you only make $400 that month.

 

Your net impact is you just have $400 either way. The main difference in scenario one  you spent things that help you. In scenario two, you just lost the money and get no benefit.

 

For the low to middle class people it’s the same thing here. The Democrat bill is spending the $600 on things that will help them (and give them more money to survive)

 

The Republican bill took the $600 and gave it to rich people and said sorry low to middle class people that may trickle down to you at sometime.
 

 

[Over 29 years of fanhood]

2 hours ago, Backintheday544 said:

The SALT cap doesn’t hurt the wealthy. Under the prior law, SALT was an add back for AMT (still is but now that it’s capped it doesn’t matter).

 

So anyone subject to AMT anyways never received a deduction for SALT since it was an AMT add back.

 

The people it hurt we’re more the middle class who used the SALT deduction but didn’t make enough to pay AMT prior to TCJA.

 

As for rising revenues, the nominal change from what I’ve seen is increased but the real change and the projected non-TCJA revenues are both deficits.

The middle class isn't paying more than ten grand in state and local income tax per year unless they are living way beyond their means. This just shows how distorted the view of middle class wealth is. it just disproportionately impacted the coast states because their own wealth doesn’t go as far due to high costs and tax rates.  AMT starts at almost 2x median hh, or average income. So don’t give me that nonsense. 
 
Above middle Democrats that think they need to raise taxes on other people, just not them, because they think they are middle class with their half a million dollar home, twice the National average. 
 

Republicans favor flat taxes, or tax reductions on themselves and flavor hiding capital gains, but that’s flawed as well.
 

I do like the idea of not giving the fed 1/5th of the gdp. It’s gotten waaay out of control. I once saw a job opening on usajobs.gov in the 150k gl scale range. The job was urban dumpster beautification manager.  
 

also; 

Year after tax law change; Top 1% of earners still paid about 38% of the tax revenue and the top half still paid about 97% of all the taxes collected. 

It’s absolutely a tax increase on wealth and the above average. 10% revenue increase YoY from 18 to 19 from what I see. 

another interesting take.. says the biggest real tax increase on the middle is ongoing healthcare cost crisis. 

 

https://www.washingtonpost.com/business/2020/12/10/middle-class-taxes/

 

Edited March 11, 2021 by Over 29 years of fanhood

[All_Pro_Bills]

33 minutes ago, Over 29 years of fanhood said:

I do like the idea of not giving the fed 1/5th of the gdp. It’s gotten waaay out of control. I once saw a job opening on usajobs.gov in the 150k gl scale range. The job was urban dumpster beautification manager.  
 

 

Its not just government wages.  Its generous pension and retirement benefits.  Here in NJ nepotism in government is a tradition and generally accepted practice.  Towns and cities hire relatives and friends (not so much the most qualified people) that take somewhat less challenging jobs then those offered in the private sector, work them for the required period of time and begin drawing pensions.  Some I'm told retire drawing three pension pay outs. Its a sweet racket while taxpayers foot big tax bills and the government borrows money on their backs to fund payments to all their buddies for perpetuity.  I suspect its the same in a lot of states, many of which have severely under-funded pension plans.  These state plans are the beneficiaries of COVID Relief funding which doesn't seem to have much to do with COVID.   

 

People working in Washington for the Federal government get an even sweeter deal.  Many draw close to $100K or more annually while also receiving fully paid health care benefits. 

 

Those of us in the private sector with the exception of old line companies that still have some sort of pension fund must fund their retirements through smart 401K and IRA investments and social security rather than some guaranteed income courtesy of the suckers called taxpayers. 

 

What I detest about government more than any of these social issues we banter back and forth about taking one view or another is that its a big blood sucking leach sucking the life out of me and every other taxpayer.  And funneling that money to themselves and their favored constituents.  Frankly, I feel like I am getting absolutely little to no benefit from the tax money I send to the State and the Federal government and I am far from affluent.  If you want to limit government power the only thing that will have any effect is to cut off their funding.     

[ALF]

States and local gov should use some of that  stimulus money for much needed infrastructure repairs.

[Over 29 years of fanhood]

17 minutes ago, B-Man said:

Federal COVID-19 Bailout Prohibits States From Cutting Taxes

Reason, by Eric Boehm

 

Buried within the $1.9 trillion emergency spending bill that Congress sent to President Joe Biden's desk on Wednesday is a provision that could effectively block states from cutting taxes if they accept federal bailout dollars. That provision, added to the bill by the Senate last week, could put a halt to several states' plans to cut taxes this year as a way to stimulate economic growth following the COVID-19 pandemic. Depending on how the text is interpreted, the measure could also make it illegal for states to create new tax credit programs like the ones that have become a popular mechanism for expanding school choice.

 

https://reason.com/2021/03/10/federal-covid-19-bailout-prohibits-states-from-cutting-taxes/

 

 

I saw that one. I’ve been thinking there might be a good reason for this. I just haven’t come up with it yet. 

[Over 29 years of fanhood]

1 hour ago, All_Pro_Bills said:

Its not just government wages.  Its generous pension and retirement benefits.  Here in NJ nepotism in government is a tradition and generally accepted practice.  Towns and cities hire relatives and friends (not so much the most qualified people) that take somewhat less challenging jobs then those offered in the private sector, work them for the required period of time and begin drawing pensions.  Some I'm told retire drawing three pension pay outs. Its a sweet racket while taxpayers foot big tax bills and the government borrows money on their backs to fund payments to all their buddies for perpetuity.  I suspect its the same in a lot of states, many of which have severely under-funded pension plans.  These state plans are the beneficiaries of COVID Relief funding which doesn't seem to have much to do with COVID.   

 

People working in Washington for the Federal government get an even sweeter deal.  Many draw close to $100K or more annually while also receiving fully paid health care benefits. 

 

Those of us in the private sector with the exception of old line companies that still have some sort of pension fund must fund their retirements through smart 401K and IRA investments and social security rather than some guaranteed income courtesy of the suckers called taxpayers. 

 

What I detest about government more than any of these social issues we banter back and forth about taking one view or another is that its a big blood sucking leach sucking the life out of me and every other taxpayer.  And funneling that money to themselves and their favored constituents.  Frankly, I feel like I am getting absolutely little to no benefit from the tax money I send to the State and the Federal government and I am far from affluent.  If you want to limit government power the only thing that will have any effect is to cut off their funding.     

Yes! I pay the most to the fed, the third most to the state, second to county and least to city. The last two I see a lot more value, with schools parks police fire and utilities. The Fed gives me 7000 ballistic missiles that will never be used and a decent highway and the opportunity to subsidize Pelosi’s private jet, which she obviously needs the government to help her with given her paltry salt of the earth 114 million net worth or god help us Trumps presidential library ?? 
 

I know a number of people with fed jobs as I live here. I hear stories about part time job full time six figure pay, people working full time jobs on the side... then there’s all these pet project federal grants like this 

 

“In November 2008, the National Institute of Alcohol Abuse and Alcoholism of the National Institutes of Health awarded a 5-year, $2.6 million grant to Wayne State University in Detroit to allow Dr. Xiaoming Li, professor and director of the university's Prevention Research Center, to "establish and evaluate whether an alcohol and HIV intervention center can assist in reducing the spread of HIV/AIDS among sex workers in China," according to a university press release announcing the grant.” 

 

now it was spun to say it was a grant to teach Chinese hookers to drink responsibly which was embellished, But none the less politifact confirmed it was almost three million to study if Chinese hookers did drink more responsibly would it reduce disease transmission. 
 

https://www.politifact.com/factchecks/2011/jul/29/judson-phillips/founder-tea-party-nation-claims-us-government-has-/

Edited March 11, 2021 by Over 29 years of fanhood

[The Frankish Reich]

On 3/10/2021 at 6:01 AM, Unforgiven said:

 

Perhaps the dumbest story a dumb writer has ever written. Back before interest rates cratered, I would build CD ladders on the secondary market, available right on the Fidelity app. Guess what? Some of those available were Bank of China CDs. I don’t think they ever worked for my portfolio, but there was nothing sinister about them. Hell, they’re even FDIC insured up to the statutory limit. China buys tons of US T Bills. Financial literacy is not Breitbart’s strength. Stringing together headlines that include the words “Democratic” “China” and “Investment”? That’s about as far as their expertise goes. 

[BillStime]