Sinema stands with her fellow Democrats on social spending and climate bill. It’s a done deal.

[Tiny]

Originally Posted by Jacuzzme

But most voters aren’t stupid, and even the ones that are still buy things. They can call it whatever they want, but people tend to notice that they’ve got nothing left at the end of the month.

That's the big reason IMHO why the punters on Predictit.org are predicting Republican control of the House. Right now a $0.19 bet on the Democrats pays $1.00, and a $0.83 bet on the Republicans pays a dollar:

https://www.predictit.org/markets/de...-2022-election

They were giving the advantage in the Senate to the Republicans up to August 1, but are now favoring the Democrats:

https://www.predictit.org/markets/de...-2022-election

[lustylad]

"Courtesy of Senator Kyrsten Sinema, probably the worst part of this dumb bill has been removed. Taxable profits will replace minimum corporate book profits, at least as far as 100% expensing of plant equipment and technology is concerned.

There is no legislative text yet so we don't know everything that we're going to need to know about this deal, but the kill shot to business investment has been removed, as far as I can tell. So, hats off to Senator Sinema. I'm sure she watches our show nightly, taking notes constantly, as she removed the most economically damaging part of this goofy bill.

Also, the carried interest provision, which taxes private equity funds on a capital gains basis with a three-year holding period, has also been removed. Of course, that still leaves the IRS DC swamp rat provision to attack small businesses and conservative groups. Also remaining are drug price controls, that by the way the CBO is actually scoring as a price hike, not a cost reduction and, of course, the war against fossil fuels — we'll call it $430 billion worth — giving the EPA new power to regulate greenhouse gases and Lord knows what else.

Then we have the social spending that includes new Obamacare subsidies. That will cost about $250 billion, on top of the $430 billion fossil fuel war, plus of course the $285 billion CHIPS+ bill.

So, if you add it up, it's close to a trillion dollars of spending. It will not be paid for. It may well boost inflation and there are assorted tax-hike cats and dogs left in this little piece of left-wing, woke utopia that we don't really know much about.

Like I say, it's a dumb, goofy bill. America doesn't need it. Only the far left wants it. It will not help the economy. It will not reduce inflation. It will create a lot more deficits and debt and, if you hadn't already guessed, it's not my cup of tea."

https://www.foxbusiness.com/media/la...r-bill-removed

[lustylad]

Originally Posted by WTF

I've said that income inequality is an important matter.

And you are confusing two different facts.

I do not agree with them taking out the tax.

It is brilliant politicking.

As always, you stumble over your own logical contradictions.

You can't have it both ways. If you consider income inequality important, then you can't turn around and praise the party that keeps reneging - again & again - on its promise to close a big tax provision that you blame for that inequality.

Who cares if Sinema or Manchin is the fall girl/guy? The bottom line is - you've been lied to and betrayed (again) by the dim-retards!!

If that doesn't bother you, but instead delights you, then it's obvious you don't really give a fuck about income inequality.

[dilbert firestorm]

+--------------------------------------+
|      Inflation from 1970 to 2022     |
+----------------------------+---------+
| Cumulative price change    | 663.69% |
+----------------------------+---------+
| Average inflation rate     |   3.99% |
+----------------------------+---------+
| Converted amount ($1 base) |   $7.64 |
+----------------------------+---------+
| Price difference ($1 base) |   $6.64 |
+----------------------------+---------+
| CPI in 1970                |  38.800 |
+----------------------------+---------+
| CPI in 2022                | 296.311 |
+----------------------------+---------+
| Inflation in 1970          |   5.72% |
+----------------------------+---------+
| Inflation in 2022          |   9.06% |
+----------------------------+---------+
| $1.00 in 1970              |         |
+----------------------------+---------+
| $7.64 in 2022              |         |
+----------------------------+---------+

https://www.in2013dollars.com/us/inf.../1970?amount=1

[1blackman1]

Great job Democrats. If Republicans are lying and crying about your accomplishment, you’ve done the right thing.

[Tiny]

Originally Posted by 1blackman1

Great job Democrats. If Republicans are lying and crying about your accomplishment, you’ve done the right thing.

Thanks for your substantive analysis

[winn dixie]

Originally Posted by Tiny

Thanks for your substantive analysis

Damn near enlightening. That bill has so much pork its got enough grease to lube a caterpillar tractor AND IMPLEMENTS!

[Tiny]

Originally Posted by winn dixie

Damn near enlightening. That bill has so much pork its got enough grease to lube a caterpillar tractor AND IMPLEMENTS!

Indeed! Blackman was a LITTLE more substantive in Barleycorn’s thread, but fails to realize the reason the bill didn’t get Republican support was because of the pork directed to special interests. And the tax increase. Negotiation and competition to reduce drug prices, not just for Medicare, would get bipartisan support. Same for some of the other legislation he lauds, like health care for veterans — the pork was the problem.

They’ve really got the wool pulled over his eyes.

[Yssup Rider]

The government can’t negotiate with pharmas for private insurance companies without first regulating them. So that’s a sticky point, isn’t it.

[Yssup Rider]

Originally Posted by dilbert firestorm

+--------------------------------------+
|      Inflation from 1970 to 2022     |
+----------------------------+---------+
| Cumulative price change    | 663.69% |
+----------------------------+---------+
| Average inflation rate     |   3.99% |
+----------------------------+---------+
| Converted amount ($1 base) |   $7.64 |
+----------------------------+---------+
| Price difference ($1 base) |   $6.64 |
+----------------------------+---------+
| CPI in 1970                |  38.800 |
+----------------------------+---------+
| CPI in 2022                | 296.311 |
+----------------------------+---------+
| Inflation in 1970          |   5.72% |
+----------------------------+---------+
| Inflation in 2022          |   9.06% |
+----------------------------+---------+
| $1.00 in 1970              |         |
+----------------------------+---------+
| $7.64 in 2022              |         |
+----------------------------+---------+

https://www.in2013dollars.com/us/inf.../1970?amount=1

Wouldn’t you agree something had to be done for this bump in the road?

[winn dixie]

Originally Posted by Yssup Rider

Wouldn’t you agree something had to be done for this bump in the road?

The bump is joeys napping again. But to sign off on more spending and the bill really doesnt do anything is irresponsible.

[Tiny]

Originally Posted by Yssup Rider

The government can’t negotiate with pharmas for private insurance companies without first regulating them. So that’s a sticky point, isn’t it.

The Pharmas or the insurance companies? Either way I think you’re right. Health care costs are out of control and there’s too little competition in prices and quality. And yes the Republicans are perhaps a little less reluctant to take on big pharma and the health care establishment. But when Democrats control government, like during the first two years of Obama’s and Clinton’s first term, you don’t see results either. Witness the Affordable Care Act. It did practically nothing to lower costs and improve quality. And a lot of people are still uninsured and going bankrupt when they can’t pay their medical bills.

[Yssup Rider]

I beg to differ bout Obamacare. At least in my case, it made a giant difference in my premium and access. As a self employed individual with a bunch of pre-existing conditions in the family, I was paying more for my shitty policy than my house and cars combined. And getting nothing.

Obamacare helped me get the penile reduction the hobby community so sorely needed!

Seriously … it was a life changer for my family.

[lustylad]

Originally Posted by Yssup Rider

The government can’t negotiate with pharmas for private insurance companies without first regulating them. So that’s a sticky point, isn’t it.

Nonsense. Govt negotiates with the private sector every time it purchases goods or services. And Big Pharma is already highly regulated - they can't sell anything without FDA approval.

You're just looking for an excuse to grow government and expand "regulation" without any serious reflection or analysis.

[lustylad]

Originally Posted by Yssup Rider

Wouldn’t you agree something had to be done for this bump in the road?

Don't just do something... stand there!

You don't get it. The way to reduce spending-fueled inflation is to STOP SPENDING. This bill pours another $700 billion onto the fire.