Biden infrastructure/tax increase megathread

[😥]

https://twitter.com/mkraju/status/1461461542722060291?s=20

[roxas11]

CBO is better than expected

It's still below Biden's own estimates, but these are defiantly not the kind of CBO numbers that would sink the build back better bill nor will it make make moderates vote against it. At this point there is nothing stopping the bill from getting passed in the House tonight

[Splash]

https://twitter.com/sahilkapur/status/1461466370223321091

[OSR stands with Israel]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...

https://twitter.com/senatorbennet/status/1461341960615124995?s=21

[Person Man]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...

https://twitter.com/senatorbennet/status/1461341960615124995?s=21

So cheaper fast food meals?

[Attorney General & PPT Dwarven Dragon]

Rules Committee passes technical changes on a 9-3 party line vote with Rep. Burgess (R) absent.

Rule debate to begin on the floor shortly

[compucomp]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...
https://twitter.com/senatorbennet/status/1461341960615124995?s=21

WTF, this is all backwards. The SALT deduction cap was intended to offset the reduced tax rate and weaker AMT, not the other way around. Trump's idea was to reward his rich buddies but offset it in a way that specifically punishes upper middle class professionals in blue states, a group that hates him and voted overwhelmingly against him. Essentially he singled out a minority group he didn't like and targeted it for oppression. The SALT change in BBB is about redressing an injustice, not a tax cut for the rich.

[Attorney General & PPT Dwarven Dragon]

1 hour debate on the revised rule has begun

[OSR stands with Israel]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...
https://twitter.com/senatorbennet/status/1461341960615124995?s=21

WTF, this is all backwards. The SALT deduction cap was intended to offset the reduced tax rate and weaker AMT, not the other way around. Trump's idea was to reward his rich buddies but offset it in a way that specifically punishes upper middle class professionals in blue states, a group that hates him and voted overwhelmingly against him. Essentially he singled out a minority group he didn't like and targeted it for oppression. The SALT change in BBB is about redressing an injustice, not a tax cut for the rich.

If SALT is a good policy why dont I see NY/NJ/CA on this list: https://www.thebalance.com/deducting-federal-income-taxes-on-your-state-return-3193248

[Amenhotep Bakari-Sellers]

The BBB has to pass the Senate, so this is the House it's got a long way to go

[Antonio the Sixth]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...
https://twitter.com/senatorbennet/status/1461341960615124995?s=21

WTF, this is all backwards. The SALT deduction cap was intended to offset the reduced tax rate and weaker AMT, not the other way around. Trump's idea was to reward his rich buddies but offset it in a way that specifically punishes upper middle class professionals in blue states, a group that hates him and voted overwhelmingly against him. Essentially he singled out a minority group he didn't like and targeted it for oppression. The SALT change in BBB is about redressing an injustice, not a tax cut for the rich.

If SALT is a good policy why dont I see NY/NJ/CA on this list: https://www.thebalance.com/deducting-federal-income-taxes-on-your-state-return-3193248

This is how it should work honestly. Federal taxes should take precedence over state ones.

[KaiserDave]

Hopefully SALT is killed in the Senate
What a disgrace

[Vaccinated Russian Bear]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...
https://twitter.com/senatorbennet/status/1461341960615124995?s=21

WTF, this is all backwards. The SALT deduction cap was intended to offset the reduced tax rate and weaker AMT, not the other way around. Trump's idea was to reward his rich buddies but offset it in a way that specifically punishes upper middle class professionals in blue states, a group that hates him and voted overwhelmingly against him. Essentially he singled out a minority group he didn't like and targeted it for oppression. The SALT change in BBB is about redressing an injustice, not a tax cut for the rich.

To be clear, when compucomp says "punish" upper middle class, compucomp means that people who earns $600,000 pays extra $5,000.

[MR DARK BRANDON]

https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/11/18/remarks-by-president-biden-and-prime-minister-trudeau-of-canada-before-bilateral-meeting/

Sorry Justin, but President Biden isn’t gonna bend over backwards for you because you don’t like his bill, he has other priorities than what you think. so keep crying, Canada 😎

[compucomp]

Hopefully SALT is killed in the Senate
What a disgrace

Since the progressives on this forum seem to not appreciate that upper middle class professionals are now an integral part of the Democratic coalition, here's a recent article:

Liberal 'dark-money' behemoth funneled more than $400M in 2020

A left-leaning, secret-money group doled out a whopping $410 million in 2020, aiding Democratic efforts to unseat then-President Donald Trump and win back control of the Senate.

The group, the Sixteen Thirty Fund, financed attack ads against Trump and vulnerable Republican senators and funded massive get-out-the-vote and issue advocacy campaigns amid the coronavirus pandemic, as detailed in a new tax filing obtained by POLITICO. It exploded in size during the Trump administration, going from a few tens of millions of dollars per year to raising and spending hundreds of millions.

The Sixteen Thirty Fund’s multi-million dollar grants singlehandedly powered some other organizations on the left, and it also incubated other groups, as a “fiscal sponsor,” that fought against Trump’s Supreme Court nominees, backed liberal ballot measures and policy proposals in different states and organized opposition to Republican tax and health care policies.

When the Citizens United decision came down, the left thought it meant they would get destroyed by the tide of big money that would flow into Republican coffers. 10 years later, this has not happened, particularly due to groups like the aforementioned and PACs like ActBlue. Where did all this D money come from that has probably overturned the traditional R funding advantage? Why is big money now arguably on the Democratic side? Perhaps it's because these upper middle class professionals, the firms which they work for and influence, and other rich liberal people are disgusted with Trump and are voting not just with their votes but with their wallets as well? Maybe you should take a hint and take care of your own rather than spitting in their eye like Trump did? How would you like it if they decided to fund Republicans instead, combining their might with Trumpist fundraising, and make your worst fears about Citizens United come true?

[KaiserDave]

Don’t care! I have political convictions, policy aims, and moral convictions that are far more important than bribing voter constituencies with the biggest tax cuts for the rich in decades. If the only way for the UMC professionals of the northeast to vote Democratic is to bribe them with obscene tax cuts for the wealthy (and hint: it’s not). it’s not worth it.

[American2020]

https://twitter.com/ThePlumLineGS/status/1461460599787991049

[TiltsAreUnderrated]

If the bill ultimately increases wealth inequality, sinking it will probably be worthwhile.

[KaiserDave]

We’re (well compucomp isn’t) DEMOCRATS, we’re supposed to oppose tax cuts for the rich! What would Harry Truman think of these tax giveaways to the “eastern establishment.”

[compucomp]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...
https://twitter.com/senatorbennet/status/1461341960615124995?s=21

WTF, this is all backwards. The SALT deduction cap was intended to offset the reduced tax rate and weaker AMT, not the other way around. Trump's idea was to reward his rich buddies but offset it in a way that specifically punishes upper middle class professionals in blue states, a group that hates him and voted overwhelmingly against him. Essentially he singled out a minority group he didn't like and targeted it for oppression. The SALT change in BBB is about redressing an injustice, not a tax cut for the rich.

To be clear, when compucomp says "punish" upper middle class, compucomp means that people who earns $600,000 pays extra $5,000.

When the guy that makes $6m in that same state had his taxes cut, while the guy that makes $600k had his taxes raised, hell yes it is a punishment and an injustice.

Look, I'm not opposed to reverting the top marginal rate change or the AMT change of the Trump tax law. You can look up my post history and I've been consistent on this. The fact that it was not done in BBB was primarily due to Kyrsten Sinema and had nothing to do with the blue state reps that demanded the SALT changes.

[Lief 🗽]

If the bill ultimately increases wealth inequality, sinking it will probably be worthwhile.

It won’t.
https://twitter.com/jstein_wapo/status/1461452138400391173?s=21

[TiltsAreUnderrated]

https://twitter.com/Brian_Riedl/status/1461392018622582789?t=oJR1cgPf-xvg-Q-88bV...
https://twitter.com/senatorbennet/status/1461341960615124995?s=21

WTF, this is all backwards. The SALT deduction cap was intended to offset the reduced tax rate and weaker AMT, not the other way around. Trump's idea was to reward his rich buddies but offset it in a way that specifically punishes upper middle class professionals in blue states, a group that hates him and voted overwhelmingly against him. Essentially he singled out a minority group he didn't like and targeted it for oppression. The SALT change in BBB is about redressing an injustice, not a tax cut for the rich.

To be clear, when compucomp says "punish" upper middle class, compucomp means that people who earns $600,000 pays extra $5,000.

When the guy that makes $6m in that same state had his taxes cut, while the guy that makes $600k had his taxes raised, hell yes it is a punishment and an injustice.

Tax increases for individuals who make $600k are never injustice.

[compucomp]

We’re (well compucomp isn’t) DEMOCRATS, we’re supposed to oppose tax cuts for the rich! What would Harry Truman think of these tax giveaways to the “eastern establishment.”

Fine then, have fun in 2022 reading stories of massive R fundraising advantages and underfunded D incumbents begging for cash and help when the flood of Democratic money that seemed infinite in 2018 and 2020 just dries up.

[TiltsAreUnderrated]

We’re (well compucomp isn’t) DEMOCRATS, we’re supposed to oppose tax cuts for the rich! What would Harry Truman think of these tax giveaways to the “eastern establishment.”

Fine then, have fun in 2022 reading stories of massive R fundraising advantages and underfunded D incumbents begging for cash and help when the flood of Democratic money that seemed infinite in 2018 and 2020 just dries up.

Senators Jaime Harrison and Amy McGrath are quaking in their boots.

[KaiserDave]

We’re (well compucomp isn’t) DEMOCRATS, we’re supposed to oppose tax cuts for the rich! What would Harry Truman think of these tax giveaways to the “eastern establishment.”

Fine then, have fun in 2022 reading stories of massive R fundraising advantages and underfunded D incumbents begging for cash and help when the flood of Democratic money that seemed infinite in 2018 and 2020 just dries up.

If money won votes we’d have 55 Senate Seats. I’m not exactly terrified.