If the gop win the midterms

[Got Stripers]

Originally Posted by Jim in CT

something called the “carried interest loophole” which benefits private equity investors ( not a lot of poor people in that group). recent versions of the inflation reduction. bill included the elimination of that loophole to help pay for it. Sinema, who takes campaign donations from very wealthy private equity folks, had that elimination removed, thus preserving the loophole. The democrats passed the version of the bill which preserved that loophole

Have a good weekend TDF.

https://www.nbcnews.com/news/amp/rcna42394
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So are you admitting you don’t realize that sometimes you need to take things out in order to get a holdout vote you need to pass the bill so the majority passes? Of are you just running out of good talking points as this administration continues to pass good legislation that helps average Americans?

[Jim in CT]

Originally Posted by Got Stripers

So are you admitting you don’t realize that sometimes you need to take things out in order to get a holdout vote you need to pass the bill so the majority passes? Of are you just running out of good talking points as this administration continues to pass good legislation that helps average Americans?

my god did you miss the point.

if democrats actually believed in making the rich pay their fair share, they wouldn’t have had to take it out. But they didn’t have the votes within their own party unless they took it out, which necessarily means the democrats as a whole don’t really believe what they claim to believe.

make that wrong.

the democrats quickly became the party of the billionaire class. wall
street leans very much to the left now. So can we just admit it.

i’m old
enough to remember when you guys criticized the right for being the party of the rich. but today it’s a good thing to be the party of the rich? why is that?
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[Pete F.]

Originally Posted by Jim in CT

my god did you miss the point.

if democrats actually believed in making the rich pay their fair share, they wouldn’t have had to take it out. But they didn’t have the votes within their own party unless they took it out, which necessarily means the democrats as a whole don’t really believe what they claim to believe.

make that wrong.

the democrats quickly became the party of the billionaire class. wall
street leans very much to the left now. So can we just admit it.

i’m old
enough to remember when you guys criticized the right for being the party of the rich. but today it’s a good thing to be the party of the rich? why is that?
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If the Dems like the Trumplicans only passed legislation that was strict party line, they could accomplish as little of value to the American people as the Trumplicans do.

When Republicans have power, they ban abortion, cut billionaires’ taxes and attack LGBT Americans. When Democrats have power, they add jobs, fund veteran care, bring manufacturing home, protect the climate and defend reproductive rights.

Which do you think is better for America?
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[scottw]

Originally Posted by Pete F.

If the Dems like the Trumplicans only passed legislation that was strict party line, they could accomplish as little of value to the American people as the Trumplicans do.

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Party-Line Vote Sends $740B Inflation Reduction Act To Biden


Inflation Reduction Act won’t curb inflation ‘over the short run,’ says economist

“Naming it ‘anti-inflation’ is a joke,” Kevin O’Leary, chairman of O’Shares ETFs and judge on CNBC’s “Money Court,” told CNBC’s Squawk Box on Monday. “This is going to be very inflationary almost immediately because we’re printing billions of dollars.”


NY Times 6 days ago — A Congressional Budget Office analysis found that the measure would have little effect on inflation this year.

CBS News
MONEYWATCH

One thing the Inflation Reduction Act may not do: Lower inflation
moneywatch
BY AIMEE PICCHI

[Pete F.]

Originally Posted by scottw

Party-Line Vote Sends $740B Inflation Reduction Act To Biden

VoteVets Statement on Passage of the Inflation Reduction Act:

"This is a huge win for Veterans, Troops and America. We thank President Biden and Democrats in Congress - and we won’t forget the Republicans who voted against Veterans."

The official CBO score of the Inflation Reduction Act, including savings from tax enforcement, shows $305 billion in deficit reduction this decade. That includes deficit reduction in 2023 and 2024 – which will help ease near-term inflationary pressures.

Passage of the Inflation Reduction Act will make Biden one of the most legislatively successful presidents of the modern era.

— American Recovery Act
— Infrastructure Investment and Jobs Act
— Chips and Science Act
— Inflation Reduction Act

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[scottw]

Originally Posted by Pete F.

Passage of the Inflation Reduction Act will make Biden one of the most legislatively successful presidents of the modern era.


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Polls show that even his own party has very little confidence in him.

[Pete F.]

Originally Posted by scottw

Polls show that even his own party has very little confidence in him.

I’ll give you a hint

I will not support ANY Republican who voted for Trump in 2020. That’s virtually EVERY Republican, including DeSantis. So I may never vote Republican again. Our ONLY job now is to defeat this authoritarian party. That means vote Democrat.
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[Jim in CT]

Originally Posted by scottw

Polls show that even his own party has very little confidence in him.

come on, you don’t think biden is going on mount rushmore?
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[Got Stripers]

Originally Posted by scottw

Party-Line Vote Sends $740B Inflation Reduction Act To Biden


Inflation Reduction Act won’t curb inflation ‘over the short run,’ says economist

“Naming it ‘anti-inflation’ is a joke,” Kevin O’Leary, chairman of O’Shares ETFs and judge on CNBC’s “Money Court,” told CNBC’s Squawk Box on Monday. “This is going to be very inflationary almost immediately because we’re printing billions of dollars.”


NY Times 6 days ago — A Congressional Budget Office analysis found that the measure would have little effect on inflation this year.

CBS News
MONEYWATCH

One thing the Inflation Reduction Act may not do: Lower inflation
moneywatch
BY AIMEE PICCHI

You probably also think you can easily change the course of cargo ships.

[scottw]

Originally Posted by Got Stripers

You probably also think you can easily change the course of cargo ships.

no...there is nothing in the legislation that will reduce inflation...that's has become widely evident...but it's a great name for the legislation

[PaulS]

Originally Posted by scottw

no...there is nothing in the legislation that will reduce inflation...that's has become widely evident...but it's a great name for the legislation

The bill will make small steps to help bring inflation back to normal levels, said Shai Akabas, the director of economic policy at the Bipartisan Policy Center.

"It will generally work in the right direction and help the Federal Reserve, which has the primary responsibility for getting a hold of inflation," Akabas said.

ECONOMY
What's causing inflation
There are three main ways the bill targets rising prices, according to Akabas. First, it plans to reduce the federal deficit, which is the difference between how much the U.S. government spends and how much it makes in taxes and revenue. When there's less money floating in the economy, there tends to be less demand and fewer price hikes, Akabas said.

Because there are several provisions to encourage spending in the bill, the net impact on inflation is unclear.

Second, it will promote the production of certain goods, mainly in renewable energy. Having more supply than demand could help lower some costs over time, he added.

Third and more directly, one provision of the bill will help limit the price growth of certain prescription drugs by allowing Medicare to negotiate their cost with pharmaceutical companies. Still, some of the biggest drivers of inflation, including food and energy costs, are not immediately addressed.