With Friends Like These…

[SuperMatt]

Manchin hates mothers.

Democrats drop paid family and medical leave from safety net bill

The White House had hoped to get to an agreement on the overall bill before Biden leaves this week for meetings in Europe.

www.nbcnews.com

Policies like paid family leave are extremely popular. Why is he blocking this? Oh yeah… his corporate overlords don’t want it. He is corrupt, and a disgrace.

He is a right-winger, period. They are the ones who want to ban abortion even in case of rape but then not allow women any time off to take care of the child they are being forced to bear.

 

[Herdfan]

Here is a summary of the framework Biden will try to sell to progressives. Apparently Manchin & Sinema are on board, now he just needs the House progressives:

Here's what's in the $1.75 trillion economic plan Biden will try to sell to his party

President Joe Biden on Thursday will make the case for a significantly scaled-back version of his massive economic plan to expand the social safety net hours before departing for his second major foreign trip as president.

www.cnn.com

In the area of taxes, I am OK with this:

Tax reforms​

• The framework will impose a 15% minimum tax on profits of corporations that report more than $1 billion in profits to shareholders. It also includes a 1% surcharge on corporate stock buybacks.
• The plan would adopt a 15% country-by-country minimum tax on foreign profits of US corporations.
• Would impose a new surtax on the income of multi-millionaires and billionaire -- a 5% rate above income of $10 million and an additional 3% surtax on income above $25 million. The White House stresses nobody earning $400,000 or less would have their taxes raised.
• It would hire IRS enforcement agents who are trained to pursue wealthy evaders, modernizing outdated IRS technology, and investing in taxpayer services

I do think that the number in the top point needs to be lower. Say $50-100M in profits reported to shareholders.

 

[SuperMatt]

Here is a summary of the framework Biden will try to sell to progressives. Apparently Manchin & Sinema are on board, now he just needs the House progressives:

Here's what's in the $1.75 trillion economic plan Biden will try to sell to his party

President Joe Biden on Thursday will make the case for a significantly scaled-back version of his massive economic plan to expand the social safety net hours before departing for his second major foreign trip as president.

www.cnn.com

In the area of taxes, I am OK with this:

Tax reforms​

• The framework will impose a 15% minimum tax on profits of corporations that report more than $1 billion in profits to shareholders. It also includes a 1% surcharge on corporate stock buybacks.
• The plan would adopt a 15% country-by-country minimum tax on foreign profits of US corporations.
• Would impose a new surtax on the income of multi-millionaires and billionaire -- a 5% rate above income of $10 million and an additional 3% surtax on income above $25 million. The White House stresses nobody earning $400,000 or less would have their taxes raised.
• It would hire IRS enforcement agents who are trained to pursue wealthy evaders, modernizing outdated IRS technology, and investing in taxpayer services

I do think that the number in the top point needs to be lower. Say $50-100M in profits reported to shareholders.

I am glad they are getting this done. Hopefully people will remember the results instead of the daily coverage of the negotiations.

As for the top point being lower? I agree with you. However, IMHO that is highly unlikely because corporations donate SOOOOO much money to politicians. They can go after the very very top people and survive, but if they go after the tier just below billionaires, they could lose most of their corporate donations. It’s a sad state of affairs.

And yeah, the IRS needs more money for enforcement. NOBODY should be getting away with cheating on taxes. If you want to see the logical end of a society that doesn’t enforce the tax code, look at Greece:

Greece not only has some of the highest taxes in Europe, it also has major problems in terms of tax collection. The VAT deficit due to tax evasion was estimated at 34% in early 2017.[222] Tax debts in Greece are now equal to 90% of annual tax revenue, which is the worst number in all industrialized nations. Much of this is due to the fact that Greece has a vast underground economy, which was estimated to be about the size of a quarter of the country's GDP before the crisis. The International Monetary Fund therefore argued in 2015 that Greece's debt crisis could be almost completely resolved if the country's government found a way to solve the tax evasion problem.[223]

Greek government-debt crisis - Wikipedia

en.wikipedia.org

 

[Chew Toy McCoy]

Here is a summary of the framework Biden will try to sell to progressives. Apparently Manchin & Sinema are on board, now he just needs the House progressives:

Here's what's in the $1.75 trillion economic plan Biden will try to sell to his party

President Joe Biden on Thursday will make the case for a significantly scaled-back version of his massive economic plan to expand the social safety net hours before departing for his second major foreign trip as president.

www.cnn.com

In the area of taxes, I am OK with this:

Tax reforms​

• The framework will impose a 15% minimum tax on profits of corporations that report more than $1 billion in profits to shareholders. It also includes a 1% surcharge on corporate stock buybacks.
• The plan would adopt a 15% country-by-country minimum tax on foreign profits of US corporations.
• Would impose a new surtax on the income of multi-millionaires and billionaire -- a 5% rate above income of $10 million and an additional 3% surtax on income above $25 million. The White House stresses nobody earning $400,000 or less would have their taxes raised.
• It would hire IRS enforcement agents who are trained to pursue wealthy evaders, modernizing outdated IRS technology, and investing in taxpayer services

I do think that the number in the top point needs to be lower. Say $50-100M in profits reported to shareholders.

Read an article on the stock buyback surcharge earlier. Not blaming this on Trump and he certainly isn’t the first administration this has happened to, but it mentioned his big corporate tax cut and how the business and worker investments lasted about 5 seconds before they quickly jumped straight to stock buybacks. I remember Trump saying something that equated to “I’m very disappointed that you used the money to do that thing you always have done and literally everybody predicted you would do.” and probably the only reason he said that is because he knew it upset the rubes in his cult.

 

[Chew Toy McCoy]

I am glad they are getting this done. Hopefully people will remember the results instead of the daily coverage of the negotiations.

As for the top point being lower? I agree with you. However, IMHO that is highly unlikely because corporations donate SOOOOO much money to politicians. They can go after the very very top people and survive, but if they go after the tier just below billionaires, they could lose most of their corporate donations. It’s a sad state of affairs.

And yeah, the IRS needs more money for enforcement. NOBODY should be getting away with cheating on taxes. If you want to see the logical end of a society that doesn’t enforce the tax code, look at Greece:

Greek government-debt crisis - Wikipedia

en.wikipedia.org

It’s almost incomprehensible to think of how many billions of dollars corporations throw at politicians and lobbying and it is in no way considered a financial loss, quite the opposite. The result of flushing that money down the toilet increases profits.

 

[Herdfan]

I am glad they are getting this done. Hopefully people will remember the results instead of the daily coverage of the negotiations.

As for the top point being lower? I agree with you. However, IMHO that is highly unlikely because corporations donate SOOOOO much money to politicians. They can go after the very very top people and survive, but if they go after the tier just below billionaires, they could lose most of their corporate donations. It’s a sad state of affairs.

We need to do away with the concept of "taxable income" as it relates to corporations. What they report on their 10K is what they should pay taxes on.

 

[SuperMatt]

We need to do away with the concept of "taxable income" as it relates to corporations. What they report on their 10K is what they should pay taxes on.

I believe that is part of the Biden plan currently making the rounds in Congress.

Since the 2017 GOP tax cut, the number of Fortune 500 companies paying $0 in federal income taxes has continued to grow. One analysis found 55 corporations paid no federal income tax on more than $40 billion in profits last year, including brand names such as Nike and FedEx. The White House’s plan would aim to put an end to that practice, establishing a new “minimum tax” of 15 percent on all U.S. corporations earning more than $1 billion a year in profits. The minimum tax would be assessed on “book” income reported to shareholders, rather than on profits reported to the IRS.

https://wapo.st/3EpWg2y. (paywall removed)

 

[SuperMatt]

More proof that Manchin just wants attention? He opposes the wealth tax supposedly, but now has his own version of the wealth tax, which he is calling a “Patriotic” tax. Next he will demand they rename the bill the “Joe Manchin is the sexiest man alive bill.”

 

[SuperMatt]

We have verification of the real reason Manchin and Sinema opposed the “build back better” plan.

https://www.twitter.com/i/web/status/1453796702364839948/

Thanks for the votes, Arizona and West Virgina. Time to cash in with the oil companies and screw you all over now!

 

[SuperMatt]

Quote of the day from Manchin:

“The political games have to stop”

 

[User.191]

We’ll never change the system because we the people have no say in the matter.

Between lobbying and the PACs the American system is brought and piad for by dark money.

Every now and then we get a free spirit elected. But that free spirit has no chance of effecting real change.

 

[JayMysteri0]

Sen. Manchin says he's not ready to back Biden's $1.75 trillion budget package

The West Virginia Democrat raised concerns about debt and inflation and instead urged House lawmakers to approve a separate bipartisan infrastructure bill.

www.npr.org

Sen. Joe Manchin has announced he cannot yet support the $1.75 trillion framework for President Biden's social spending package that congressional Democrats were hoping to push through this week.

"I will not support a bill that is this consequential without thoroughly understanding the impact that it will have on our national debt, our economy and, most importantly, all of our American people," the West Virginia Democrat said in a statement Monday afternoon.

Manchin cited concerns over inflation and the use of what he described as "budget gimmicks" in the framework, saying the ultimate cost of the package could be twice as large if various programs are extended.

His announcement is a blow to Democrats who wanted to bring to the House floor this week a vote on both the bipartisan infrastructure deal and the social spending package, which would fulfill major priorities of the Biden administration.

In response to Manchin's announcement Monday, White House press secretary Jen Psaki said the plan the House is finalizing will meet Manchin's call for a "fiscally responsible" bill.

"Experts agree: Seventeen Nobel Prize-winning economists have said it will reduce inflation," she said in a statement. "As a result, we remain confident that the plan will gain Senator Manchin's support."

Jay Mysteri0 translation = "I told you so!"

Why is that bill that small? Because of Joe Manchin & Kyrsten Sinema. NOW he can't even support that, because... of whatever he's made up now.

Manchin calls for an infrastructure vote instead​

Manchin instead urged House Democrats to pass the Senate-approved bipartisan infrastructure deal on its own. That legislation includes significant investments in roads, bridges, railways and broadband internet.

Congressional Democratic leaders have been trying to pass the social spending package and the infrastructure bill in tandem, to keep progressive members of the conference satisfied.

Progressive lawmakers have long voiced concerns that should the House pass the bipartisan infrastructure deal on its own, more moderate members could back out of the larger social spending package. Democrats are attempting to pass that package through a process called budget reconciliation, which requires every senator who caucuses with the Democrats to be on board.

"There are some House Democrats who say they can't support this infrastructure package until they get my commitment on the reconciliation legislation. It is time to vote on the [infrastructure] bill, up or down, and then go home and explain to your constituents the decision you made," Manchin said. "Holding this bill hostage is not going to work in getting my support for [the] reconciliation bill."

Of course Manchin wants the infrastructure deal past solo, because he's like the other centrists worried about the donors first. That bill will never pass without their hands forced. Manchin went from the politician who wanted all the attention, to being just sold out politician who let everyone see what's of true importance to him.

https://www.twitter.com/i/web/status/1455553884991090690/

 

[SuperMatt]

Jay Mysteri0 translation = "I told you so!"

Why is that bill that small? Because of Joe Manchin & Kyrsten Sinema. NOW he can't even support that, because... of whatever he's made up now.



Of course Manchin wants the infrastructure deal past solo, because he's like the other centrists worried about the donors first. That bill will never pass without their hands forced. Manchin went from the politician who wanted all the attention, to being just sold out politician who let everyone see what's of true importance to him.

And has the gall to blame Jayapal for playing games by not passing the mini infrastructure bill. Yeah, she held that up because she knew Manchin had zero intention of passing the big bill otherwise. Now he has to decide if he will block everything. He is the personification of what people hate about politicians.

 

[User.191]

And has the gall to blame Jayapal for playing games by not passing the mini infrastructure bill. Yeah, she held that up because she knew Manchin had zero intention of passing the big bill otherwise. Now he has to decide if he will block everything. He is the personification of what people hate about politicians.

And he’s damaging the DNC at the expense of his own relaection chances.

Another scummy politican who’ll priobably be relected.

 

[Herdfan]

Got to say I did not see this coming:

Is Joe Manchin positioning for a presidential run?

The West Virginia senator has shown himself to be a strong and fearless advocate for moderate, bipartisan politics.

thehill.com

But he was a great Governor. He really was. He wouldn't be the deal maker Clinton was or the influencer Obama was, but he would be the kind to put the leaders in a room and tell them they are staying until an agreement was reached.

 

[Chew Toy McCoy]

Got to say I did not see this coming:

Is Joe Manchin positioning for a presidential run?

The West Virginia senator has shown himself to be a strong and fearless advocate for moderate, bipartisan politics.

thehill.com

But he was a great Governor. He really was. He wouldn't be the deal maker Clinton was or the influencer Obama was, but he would be the kind to put the leaders in a room and tell them they are staying until an agreement was reached.

"Remember when I almost single-handedly blocked you from getting those things you wanted and needed in 2021? Vote for me and I promise more of the same. And the return of the coal powered car engine."

 

[JayMysteri0]

Yeah...

This is the look of someone who'd win the popular vote

https://www.twitter.com/i/web/status/1456436181097488384/

https://www.twitter.com/i/web/status/1456384553472311323/

 

[Chew Toy McCoy]

Yeah...

This is the look of someone who'd win the popular vote

https://www.twitter.com/i/web/status/1456436181097488384/

Maybe in urban CA. That’s a middle class commuter car.

 

[Chew Toy McCoy]

Krysten Sinema is the epitome of political corruption

Krysten Sinema reveals how deep corruption is in American politics

www.salon.com

The only thing I disagree with in that article is when it starts going into foreign interference. I'm not saying it doesn't exist, but we are perfectly capable of producing and controlling idiots without foreign assistance. IMO some people put way too much weight on foreign interference which is just a distraction to the bigger issues.

 

[SuperMatt]

Once again, Joe Manchin shows he doesn’t care about American workers.

https://wapo.st/3n6OTaq

Sen. Joe Manchin III (D-W.Va.) said Thursday that he opposes a provision of President Biden’s social spending bill to give a $4,500 federal tax credit for union-made electric vehicles, calling the incentive “wrong” and “not American.”

“We shouldn’t use everyone’s tax dollars to pick winners and losers,” Manchin told Automotive News. “If you’re a capitalist economy that we are in society then you let the product speak for itself, and hopefully, we’ll get that, that’ll be corrected.”

This from the same guy who approved subsidies for American coal union members, and of course he owns a coal company. Funny how he didn’t have a problem picking winners or losers in that case. What a total hypocrite.

Debbie Stabenow called him out on it too:

“Senator Manchin and I work together on many issues, and I was proud to stand with him two years ago to help the members of the United Mine Workers of America union in West Virginia. At that time, some argued his bill was unfair and was picking winners and losers. But we rejected that argument and stood together to protect union pensions,” she said. “This issue is no different. Standing up for hard-working Americans is always the right thing to do.”

He is aware that China is eating our lunch on EVs right? This is a no-brainer to help American manufacturing, the climate, and the economy.

He is just full of crap, period. He is not a centrist. He has no apparent governing philosophy other than “ME ME ME” that I can figure out. He’s a wannabe Ted Cruz.