With Friends Like These…

[Chew Toy McCoy]

I think under the current IRS the fact that somebody actually paid taxes is reason for investigation.

"Hey Brad, this clown used the 1040 EZ form and didn't claim any deductions. What kind of game do you think they are playing here?"

 

[Herdfan]

That's dumb. So if my parents give me $1,000 for Christmas I should be reporting it to the IRS and/or this new proposal is going to shoot up a red flag as soon as I deposit it in the bank?

Nobody is being “flagged” under this proposed law. See the fact-check above.

Not flagged.

Any account which has a balance at any time during the year of $600 or more, or any account in which there are inflows of $600 will be reported to the IRS at the end of the year in aggregate.

So no your $1000 won't be flagged as a separate transaction. Your total inflows is what will be reported.

 

[Herdfan]

Some good news for some:

Manchin on party switch: ‘It’s bull—-‘

Sen. Joe Manchin (D-W.Va.) on Wednesday dismissed a report that he is actively thinking about dropping out of the Democratic Party as “bullshit” and “rumors.””It&#8217…

thehill.com

 

[Chew Toy McCoy]

Biden Scales Down $2 Trillion Climate Plan To Single Reusable Grocery Bag

WASHINGTON—Putting forth a less ambitious legislative package in an effort to secure enough votes for passage in the Senate, President Joe Biden announced Wednesday that his original $2 trillion climate plan would be replaced with a scaled-back proposal to purchase a single reusable grocery bag...

www.theonion.com

 

[Chew Toy McCoy]

@Herdfan As a fiscal conservative you seem to be taking an end justifies the means approach here, leaning on “possible” reasons you agree with while ignoring the mountain of evidence pointing to textbook corruption. This is like a climate change activist going up to a beehive, beating the shit out of it with a stick, and then claiming the reason they were attacked was because it was an unseasonably hot day.

I know you don’t disagree with us on everything on this forum, but I think this is one of those times when you can join us in calling it out for what it is and not losing face. Pull from your inner independent voter.

 

[Chew Toy McCoy]

Five military veterans advising Sen. Sinema resign, calling her one of the 'principal obstacles to progress'

Five military veterans on Sen. Kyrsten Sinema's advisory board resigned from their roles this week, slamming the Arizona Democrat as one of the "principal obstacles to progress."

www.cnn.com

You know, those hyper progressive extremists known as the military.

 

[Herdfan]

@Herdfan As a fiscal conservative you seem to be taking an end justifies the means approach here, leaning on “possible” reasons you agree with while ignoring the mountain of evidence pointing to textbook corruption. This is like a climate change activist going up to a beehive, beating the shit out of it with a stick, and then claiming the reason they were attacked was because it was an unseasonably hot day.

I know you don’t disagree with us on everything on this forum, but I think this is one of those times when you can join us in calling it out for what it is and not losing face. Pull from your inner independent voter.

I agree it isn't right, but at this point I have become cynical over politicians and how they accumulate wealth on a $170K salary because no one cares. Both sides do it, so neither will call the other side out on it because it might expose what they are doing.

I will say it is wrong, but nothing will ever be done about it so no use getting worked up over it.

 

[Chew Toy McCoy]

I agree it isn't right, but at this point I have become cynical over politicians and how they accumulate wealth on a $170K salary because no one cares. Both sides do it, so neither will call the other side out on it because it might expose what they are doing.

I will say it is wrong, but nothing will ever be done about it so no use getting worked up over it.

Like I said in a previous post I think this corruption aspect will become less of an issue as more winning candidates’ races are funded by the people and they refuse to take money from the usual corrupting donors. That’s becoming more common but there is still a huge amount of politicians who don’t think that’s possible or are already stuck on tilt in the corruption bubble.

I think our ruling class government is backed into a corner and they’re not going to be able to talk themselves out of trouble this time. The writing was on the wall when people stopped getting excited about the new iPhones.

 

[Chew Toy McCoy]

Kyrsten Sinema’s Tax Flip

Sinema wants to stop Dems from raising taxes after attacking Trump’s "huge tax breaks for the wealthy and large corporations.”

www.dailyposter.com

 

[Chew Toy McCoy]

Daaaaaamn, that is brutal. And from centrists. 40 years in politcal office and West Virginia is still the second poorest state and either towards the bottom or at the bottom of every meaningful metric.

 

[SuperMatt]

Daaaaaamn, that is brutal. And from centrists. 40 years in politcal office and West Virginia is still the second poorest state and either towards the bottom or at the bottom of every meaningful metric.

Including vaccination rate. They are in a dead heat with Idaho for last place in that metric. What I don’t get is why a state of working-class folks keeps electing multi-millionaires to govern.

 

[Chew Toy McCoy]

Including vaccination rate. They are in a dead heat with Idaho for last place in that metric. What I don’t get is why a state of working-class folks keeps electing multi-millionaires to govern.

I think the relative rich in poor states probably still come off as folksy and accessible and they probably lean heavy on “came from nothing” mythology about themselves (even if that nothing hasn’t been the case since their great, great, great, great grandfather).

When I heard he’s only worth 8 million I almost laughed. That’s an upper middle class starter kit where I live.

 

[lizkat]

I agree it isn't right, but at this point I have become cynical over politicians and how they accumulate wealth on a $170K salary because no one cares. Both sides do it, so neither will call the other side out on it because it might expose what they are doing.

I will say it is wrong, but nothing will ever be done about it so no use getting worked up over it.

Yep. There are times when self-serving investments by public servants come to light, and sometimes the rules get tweaked, e.g. the Federal Reserve just announced some new restrictions on trading by senior officials. But when one considers the fine print, and the loopholes both as to what can still be done and by what level of official, the lean towards deregulation and turning a blind eye to potential for unethical behavior regarding self-enrichment of public officials still prevails in the USA. Also, as with the example mentioned, it's often the case that it's an agency rule change and not a legislative change that ensues after public uproar over a financial ethics issue. Policy today is not necessarily policy tomorrow, and a rule tweak can sometimes be quietly reversed.

The Federal Reserve imposes new restrictions on investments after trading controversy

The Federal Reserve is adopting new restrictions on investments after active trading last year by two regional Fed bank presidents drew criticism.

www.npr.org

 

[SuperMatt]

I think the relative rich in poor states probably still come off as folksy and accessible and they probably lean heavy on “came from nothing” mythology about themselves (even if that nothing hasn’t been the case since their great, great, great, great grandfather).

When I heard he’s only worth 8 million I almost laughed. That’s an upper middle class starter kit where I live.

The WV governor is the richest person in the state, although he recently left the billionaire club.

Gov. Jim Justice No Longer A Billionaire, After $850 Million Debt To Insolvent Greensill Capital Revealed

What fate will befall the Justice family coal mines as creditors of bankrupt Greensill look for answers.

www.forbes.com

Also, he inherited a coal mining company from his dad, so he’s no “bootstraps” guy either. Born with a silver spoon in his mouth, still elected by residents of West Virginia to govern them. It baffles me.

 

[SuperMatt]

Joe Manchin’s constituents that would be harmed by his “means-testing” and work requirements for the child tax credit tell their stories.

https://wapo.st/3pxU4lh

(paywall removed)

In interviews, families across the state said they used the money for essentials and small luxuries: new clothes for growing middle-schoolers, firewood to heat a home in the coming winter, pumpkins and a cheery scarecrow to mark the fall season, a 3-year-old’s class pictures. But now, advocates for the poor caution Manchin’s requirements could impact thousands of households, from parents grappling with expensive child care, to families earning over $60,000 but still struggling, to grandparents who are raising grandchildren but aren’t able to reenter the workforce.
“It takes everything out of us just to make sure these children are fed and taken care of and clothed,” said Ruth, 61. “We’ve been taking care of the children on our own dime.”

 

[Chew Toy McCoy]

With corporate tax off table, U.S. Democrats turn to billionaires to fund spending bill

U.S. Democrats are expected to unveil a tax plan this week that would seek to raise hundreds of billions of dollars from the country's roughly 700 billionaires to help pay for expanding the social safety net and tackling climate change.

www.reuters.com

Why don’t we just bring literal slavery back except include all races, a real triumph for equality.

 

[User.168]

.

 

[SuperMatt]

Manchin is determined to protect his personal coal interests, no matter the cost (to the environment).

Manchin pushes for more climate cuts from the budget bill. (Published 2021)

He has already effectively succeeded in stripping the bill of its most powerful climate change provision.

www.nytimes.com

He is hurting Democrats in the polls too. If he and Sinema passed the initial $3.5 trillion bill, people would already be getting or anticipating the benefits. Instead, the Democrats look weak, all thanks to a glory-hound. It’s hard to tell if he is more interested in padding his pockets or his ego, but other than those two things, clearly nothing matters to him.

Mr. Manchin, a centrist Democrat from one of the country’s top coal- and gas-producing states, wants to remove or modify a provision that would impose a fee on emissions of methane, a powerful planet-warming pollutant that leaks from oil and gas wells. He has already effectively succeeded in stripping the bill of its most powerful climate change provision, a program that would have rapidly shut down coal and gas-fired power plants and replaced them with wind and solar power.

Also, they can stop calling him a “centrist Democrat” - that’s utter nonsense.

 

[Chew Toy McCoy]

Also, they can stop calling him a “centrist Democrat” - that’s utter nonsense.

They‘re both corporate extremists.

 

[SuperMatt]

https://www.twitter.com/i/web/status/1452743894651834378/