US Politics Thread 2021-24

[August]

Shows you that the Democrats just make it up as they go along.

Biden student loan handout to cost roughly $500B, according to Committee for a Responsible Federal Budget

........


Critics have argued Biden's program will contribute to already record-high levels of inflation in the U.S.
Senate Minority Leader Mitch McConnell argued the program is "yet another way to make inflation even worse, reward far-left activists, and achieve nothing for millions of working American families who can barely tread water."
Biden, however, touted the program as a fulfillment of his campaign promise to cancel $10,000 in student debt. Democrats had initially stated that the White House lacks the authority to unilaterally cancel debt and that the president must go through Congress.
"People think that the President of the United States has the power for debt forgiveness. He does not. He can postpone, he can delay, but he does not have that power. That has to be an act of Congress," House Speaker Nancy Pelosi said in 2021.
Biden himself doubted his authority to cancel debt through executive order last year.
"I don’t think I have the authority to do it by signing the pen," he said in February.

Suddenly he does have the authority? What changed?

[MaDef]

Originally Posted by August

Shows you that the Democrats just make it up as they go along.





Suddenly he does have the authority? What changed?

I think he's trying to help midterm elections. An outright endorsement by Biden seems to be toxic, so this is a a way for him to "get-out-the-vote" for democrats without being directly involved.

While Biden doesn't have the authority to directly forgive Department of Education loans, he can play with the rules/regulations in such a way that the balance on the loans can be adjusted without repayment. having said that, the real problem is his assertion that anyone that has a student loan and makes <125,000$ is ineligible to take advantage of the "new rules/regulations", that will be challenged under the Equal protection clause of The Constitution

[Bubblehead1980]

Originally Posted by August

Assuming it's true then how come this explanation has to come from you and Budda and not from the White House who should be the ones selling this to the public?

Like em or hate em it can't be argued that the Biden administration is absolutely horrible at getting their message out.

I am not a fan of Biden, but I hate lies, intellectual dishonesty etc, falsehoods made to stir up the masses.

Whitehouse should do more explaining on the 87,000 agents front, guess to them it's just not that big of a deal to them , because it really is not, just been made into a talking point for opposition. The pundits and politicians know they can get superficially informed people to parrot their nonsense without looking into things.

Hiring of 87,000 IRS agents alarmed me, but I looked into things and found reasonable explanations.

[August]

Originally Posted by Bubblehead1980

I am not a fan of Biden, but I hate lies, intellectual dishonesty etc, falsehoods made to stir up the masses.

Whitehouse should do more explaining on the 87,000 agents front, guess to them it's just not that big of a deal to them , because it really is not, just been made into a talking point for opposition. The pundits and politicians know they can get superficially informed people to parrot their nonsense without looking into things.

Hiring of 87,000 IRS agents alarmed me, but I looked into things and found reasonable explanations.

I imagine it would seem reasonable to you but I have my doubts. The main one being that retiring agents do not need an act of congress to be replaced.

But what do you care, aren't you bailing on us to move to another better country than ours?

[Rockstar]

There is no mandate to hire an additional 87,000 IRS employees. The team D team R party talking points is the usual b.s. we little people are spoon fed so we can argue with each other. Instead of paying attention to facts that matter.

One possible reason for the distraction is the IRA may increase tax revenue but so what? We little people don’t have any say how our taxes will be spent anyway, right?. Especially if nobody knows anything about it! The IRA may also reduce our after tax incomes, and reduce national economic output in the long run. But if nobody knows about that possibility and it does happen, whose to blame? I’m sure Congress will find some pointless distraction to feed the little people to argue with each other again.

https://taxfoundation.org/inflation-reduction-act/

The Inflation Reduction Act (IRA), successor to the House-passed Build Back Better Act of late 2021, has been touted by President Biden to, among other things, help reduce the country’s crippling inflation. Using the Tax Foundation’s General Equilibrium Model, we estimate that the Inflation Reduction Act would reduce long-run economic output by about 0.2 percent and eliminate about 29,000 full-time equivalent jobs in the United States. It would also reduce average after-tax incomes for taxpayers across every income quintile over the long run.

By reducing long-run economic growth, this bill may actually worsen inflation by constraining the productive capacity of the economy.

Our analysis contains estimates of the budgetary, economic, and distributional impacts of the Inflation Reduction Act as specified in bill text that was amended and passed in the Senate on August 7 and agreed upon in the House on August 12.

Using the General Equilibrium Model, we estimate that the tax provisions, IRS enforcement, and drug pricing provisions in the bill would increase federal revenues by about $676 billion over the budget window, before accounting for $352 billion in expanded tax credits for individuals and businesses, resulting in a net revenue increase of about $324 billion from 2022 to 2031.

Excluding the anticipated revenue from increased tax compliance and the drug pricing provisions, the bill would lose about $84 billion in revenue over the budget window.

[mapuc]

Can you find anything in all this, that would have given FBI reason to search Mar-A-Lago some weeks ago ?

https://edition.cnn.com/2022/08/26/p...emo/index.html

Markus

[ET2SN]

Rockstar, the IRS has been bled dry since Regan was in office. Its the classic idea that if you can't get rid of the taxes, get rid of the enforcement.

Look at all the sweetheart deals the big (and not so big) corporations have gotten over the years. Remember when "the rising tide will lift ALL of the boats"?



If you faithfully filed your 1040's without using some shady math, you were a sucker. Everyone cheated because everyone thought they could get away with it.

Meanwhile, we're still dealing with a global pandemic. I told you folks a long time ago, eventually we would have to pay for those stimulus checks back when the economy went into lock-down.

Were you expecting people to buy "Victory Over The Virus" bonds? Heck no, we were all too busy wearing our Jammies all day long and ordering from Amazon.

[Buddahaid]

Oh yeah, the trickle down theory and Reagan beginning the erosion of the middle class.

[Rockstar]

Originally Posted by Buddahaid

Oh yeah, the trickle down theory and Reagan beginning the erosion of the middle class.

King Reagan and his pesky tax policy decrees.


The thing is, it’s congress who’s empowered by the constitution to tax, who to tax and how much to tax. Not a president, and supply side economics policy has been going on for a lot longer than Reagan. 90 plus years has passed since the term ‘Trickle Down Economics’ was first coined by Will Rogers in 1932. In 1989 President Bush slandered the policy calling it ‘Voodoo Economics’, yet it continued. Now we suddenly hear proclamations of how Biden is finally ending it. Ya right, . I’ll believe it when someone can explain how it will happen without chanting the usual party slogans and snazzy catch phrases.

The words I remember Biden saying is “nothing will fundamentally change” if he’s elected. He wasn’t lying when he said that, or was he?

[Rockstar]

Speaking of those 87,000. Seems I was wrong and it isn’t a distraction as I first suggested, it’s just that staff increases will not be immediate. Though I don’t for a moment think it’s some spooky shadow army. Rather it seems that after some calculations the return on this particular investment makes it worth while.


https://www.cbo.gov/publication/57444

According to the CBO:

Spending would increase in each year between 2021 and 2031, though the highest growth would occur in the first few years. By 2031, CBO projects, the proposal would make the IRS’s budget more than 90 percent larger than it is in CBO’s July 2021 baseline projections and would more than double the IRS’s staffing. Of the $80 billion, CBO estimates, about $60 billion would be for enforcement and related operations support.

https://home.treasury.gov/system/fil...nce-Agenda.pdf

Because the expansion in the IRS’s budget is phased in over a 10-year horizon, each year the IRS’s workforce should grow by no more than a manageable 15%. By the end of the decade, however, the IRS’s budget would be roughly 40% above 2011 levels in real terms as a result of this proposal.

On the bright side for all us po’ folk. They say their sights will be set primarily on those making $400,000 or more.

[em2nought]

Originally Posted by Buddahaid

Oh yeah, the trickle down theory and Reagan beginning the erosion of the middle class.

Such B.S.

The frugal middle class all DIED, and left their money to their leftist educated children who spent it all and then some. Reagan had nothing to do with it except for not seeing the infiltration of education by the left.

"The fault, dear Brutus, is not in our stars, But in ourselves, that we are underlings."

[MaDef]

Originally Posted by Rockstar

On the bright side for all us po’ folk. They say their sights will be set primarily on those making $400,000 or more.

And the Moon is made of green cheese.

[Rockstar]

Originally Posted by MaDef

And the Moon is made of green cheese.

No, but Apollo 17 took photos of an area between the Manilius and Cono Craters called Ina located in Lacus Felicitatis that suggest the Moon may be made of Bleu Cheese.

[Kptlt. Neuerburg]

[Rockstar]

The skyrocketing costs of tuition according to the New York Federal Reserve Bank is caused by, can you guess? Government paying off student loan debts.

https://www.newyorkfed.org/medialibr...orts/sr733.pdf

Which in turn leads too…

Most colleges do not have set prices for tuition. If you are someone they want in their school your tuition cost will be less than the average Joe or Jane’s cost. So, because of government interference colleges raise prices even further to maintain the status quo.

…writing in The New York Times Magazine, Adam Davidson said the "single most important factor behind the rise in tuition" is that high tuitions allow colleges to "shape" their student bodies.

https://www.businessinsider.com/this...ng-2015-9?op=1


Seems politicians create a problem then claim to have all the answers on how to solve it. Spend, spend, spend, vote for us, we care a lot. People do love it so.