Biden infrastructure/tax increase megathread

[AGA]

Of course Biden is against an unconstitutional wealth tax. He never campaigned on it.

[AGA]

Hope suburban NYC Democrats hold this hostage over SALT.

[AGA]

What is SALT and why does it matter?

A tax deduction that allows high tax states to fund social services, like schools, without needing insanely high tax rates.

Why is Biden against it?

Previously, any taxes you paid at the state and local level could be deducted from your federal taxes. Now, the deduction is limited to $10k. I haven't seen anything confirming that Biden is explicitly against it, but a lot of Democrats are skeptical of getting rid of the $10k limit because it would mostly benefit the wealthy.

[AGA]

How about instead of a SALT cap, we have an added red precinct tax?

I'm sure BRTD would be on board with this.

[AGA]

Based. Corp tax shouldn't be raised.

[AGA]

I don't think the bill can pass Congress without it.

[AGA]

I'm a bit confused about the capital gains tax increase. Would it create a tax cliff since it only applies to people whose income is over $1,000,000? Google searches aren't coming up with much detail.

[AGA]

I'm a bit confused about the capital gains tax increase. Would it create a tax cliff since it only applies to people whose income is over $1,000,000? Google searches aren't coming up with much detail.

As I understand it, it applies to income over $1,000,000, not people.

Is that just capital gains over $1,000,000 or all income?

[AGA]

Who's gonna pay for this $950B package? Did they keep the tax hikes on the rich?

Edit: nvm saw that there's no new taxes. Garbage

I've read that it is fully paid for, partially through stronger IRS enforcement.

[AGA]

A major bipartisan victory like this is hard to come by, so I'm not sure why Democrats want to imperil its chances by tying it to a much more partisan package. They should just pass it now and worry about everything else later.

[AGA]

Universal pre-K is a complete waste of money and should be axed.

[AGA]

Universal pre-K is a complete waste of money and should be axed.

This is one of the most ridiculous things I've ever heard.

Universal preschool is one of the best investments we can make for children's' futures.

Research has shown that preschool does nothing to help children in the long term.

[AGA]

Universal pre-K is a complete waste of money and should be axed.

This is one of the most ridiculous things I've ever heard.

Universal preschool is one of the best investments we can make for children's' futures.

Research has shown that preschool does nothing to help children in the long term.

It helps the parents massively to not have to pay for daycare and/or stay at home with the kids all day.

That's what daycare is for.

Universal pre-K is a complete waste of money and should be axed.

This is one of the most ridiculous things I've ever heard.

Universal preschool is one of the best investments we can make for children's' futures.

Research has shown that preschool does nothing to help children in the long term.

You are objectively incorrect:

https://www.wsj.com/articles/the-lasting-benefits-of-preschool-11603378648

https://www.nea.org/student-success/smart-just-policies/funding-public-schools/early-childhood-education

https://journals.sagepub.com/doi/pdf/10.3102/0013189X17737739

https://www.nichd.nih.gov/newsroom/releases/031115-podcast-reynolds

I can't see the first article due to a paywall. I'd also have to look into the methodology of the article in the second and third link, but a lot of studies on preschool may be flawed due to selection bias. There is evidence that while preschool as short-term benefits for children, after a few years, children who did not attend preschool tend to catch up.

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[AGA]

Universal pre-K is a complete waste of money and should be axed.

This is one of the most ridiculous things I've ever heard.

Universal preschool is one of the best investments we can make for children's' futures.

Research has shown that preschool does nothing to help children in the long term.

It helps the parents massively to not have to pay for daycare and/or stay at home with the kids all day.

That's what daycare is for.

Daycare is so f***ing expensive. Universal public pre-K would be a financial godsend to millions of families.

Then do universal daycare, lol.

[AGA]

BBB is a decent bill although there are some problems with how it's funded.