IF this passes, it’s excellent news.
Big if, but if this passes they actually fucked McConnel on something
This is laughable. The Potomac will turn Caribbean Blue before that becomes law.
Seems to be a lot of this going on in the Dem Congress lately…
(Checks google earth)…
Dammit!
Thread.
Get rid of the several Trump holdovers. At the IRS, Postal Service & the Fed.
It amazes me that detrumpification was not priority #1 of the first day of the Biden admin. No way anyone associated with Il Douche should ever again be anywhere near any sort of power again. Ever.
It’s such a basic mistake.
He has been having a very good couple of weeks, though. Tax & new infrastructure bill, PACT Act etc.
They have just been removed from that act. They are still part of his platform and haven’t been “dropped.”
It’s worth remembering that The Hill has at times demonstrated an irrational hatred for Biden.
The Hill is DC’s high school paper. Caution is always warranted with its content and obvious slants.
I have little faith that the rich will get taxed. It sure sounds good though. Guess we’ll see…
At the very least they need to roll back the tax cuts from 45 & Paul Ryan. But the loophole closures that were in the act will have a much greater effect than a few percentage points difference in the personal and business income tax rates. The minimum biz tax of 15% and deletion of the carried interest loophole on Amazon alone would bring in an additional $5B tax revenue.
What recession?
All the pundits crying wolf for the past several months must be, well, looking for something else to cry about.
Well Kyrsten put a stop to that. Looks like she bowed to the Kochs.
However, there’s apparently something to replace it: an excise tax on stock buybacks, that might bring in more money than closing the carried interest loophole.
The deal with Sinema includes a new excise tax on stock buybacks that will bring in more than the $14 billion raised by the carried interest provision, according to a Democrat familiar with the agreement. The deficit reduction figure remains about $300 billion.
That seems more easily avoided. And leaves the individual paying less tax on hundreds of millions than the janitor.
