The title of every Congressional bill is an oxymoron, once you get used to this, things begin to make sense.
More interesting is what comes when China will no longer be able to buy our debt. (And we're not talking years, we're talking months.) The moment the spendthrifts in Congress find out they can't paper over their future excess is the moment reality returns to Washington.
Aug 4, 2022·edited Aug 4, 2022Liked by SimulationCommander
Welp, you know you're living in an Orwellian world when a senile nincompoop named Brandon comes up with an "Inflation Reduction Act" that increases inflation.
Don't worry the dumbocraps will get their "super election fortification." They have all our money to pay all those ballot box stuffers and other malcontents.
I can't believe that I still get surprised at some of the things government does. WTH? The good news... I think way more people are seeing the insanity now (not that that does anything to change it). But maybe that's just me wearing rose colored glasses.
Aug 2, 2022·edited Aug 2, 2022Liked by SimulationCommander
Here's a thought: Team Biden has backers. Said backers have been promised profits. So, Team Biden now has to pay the piper. Doesn't have to be more complex than that.
Of course, the incompetence, arrogance, hubris and ignorance on display doesn't help. And even Keynes himself warned that you couldn't run a nation's economy on his idea of debt-funded stimulus to get out of recessions. What Team Biden's doing is akin to using a heart-starter to try and keep the heart running. A brief respite at best with long-term permanent damage no matter what happens.
On top of the fact that it won't actually reduce inflation, the Joint Committee on Taxation's analysis shows that the "distributional effects" will amount to an increase in taxes almost across the board on all income levels for several years. Remember when Brandon promised nobody earning less than $400,000 would pay a single cent more in taxes? The JCT determined that was basically a lie, since the poor will have to help bear the cost of raising taxes on businesses. Actually, I believe that's typically called "inflation", but maybe I'm just confused... Anyway, I'm sure the resident will blame it on covid and Putin, so it's all good.
Aug 2, 2022·edited Aug 2, 2022Liked by SimulationCommander
Two things, the first an inquiry and the second an observation:
(1) An economist on Fox made the claim that elements of the bill would affect pass-through entities, no matter their income level. Small businesses are almost universally "pass-through entities," such as S corps or LLCs. Does anyone know if this is true? I tried reading the bill. It's 725 pages long and I don't have a good enough knowledge of the prior laws to know how the changes actually affect the tax code.
(2) The Democrats almost have to pass this bill for the ACA extension. A chunk of Americans have absolutely no idea what health insurance costs, because they get it through their employer, they have Medicare or Medicaid, OR they go through the ACA. They might pay something, but most people don't even come close to paying what the insurance companies actually price the plans at.
My other half and I are in our late 40s and together we pay $820 a month for a bronze (brown) plan, with a combined $14000 deductible. We make too much to get help (which is no impressive thing as the cut off for "help" for a couple w/o kids is $60,000 adjusted gross income, so not hard to reach if you're working at all). Our plan is more than any other payment we have, including our mortgage, and we're basically out $7000 apiece before the thing kicks in. And this is the most reasonable plan I found that allowed us to utilize the medical system in town we prefer.
Now imagine all those people getting subsidized by the ACA suddenly being *forced* to purchase plans at those prices. The ACA (otherwise known as "Obama's legacy") has made the medical system unaffordable for nearly the entire population, so there is almost no way they can't not pass this bill if they don't want the American public understanding what even the shining star of their party has done to the very people they supposedly champion, the working class.
Hijacking the top of the comment section to see if everybody is having the same problem I am: Can anybody get to the actual data at https://protect-public.hhs.gov/ right now? They 'mitigated' over to ArcGIS and suddenly the page is requiring a log-in, which I can't seem to make the system accept. This could be an error, but...........
Did the Ministry of Truth Name the Inflation Reduction Act?
When they devalue the dollar down to 30 cents of what it was Feb 2020, smart good folks will figure out how to set up alternative, local currencies.
And these bitches will lose their money printing presses, A ton of mpney, and a lot of cobtrol.
Picture the revolution eating its children, picture these WEF types panicked.
Collapse it, then! I can start over at 62. Can you, Gates?
The title of every Congressional bill is an oxymoron, once you get used to this, things begin to make sense.
More interesting is what comes when China will no longer be able to buy our debt. (And we're not talking years, we're talking months.) The moment the spendthrifts in Congress find out they can't paper over their future excess is the moment reality returns to Washington.
Welp, you know you're living in an Orwellian world when a senile nincompoop named Brandon comes up with an "Inflation Reduction Act" that increases inflation.
Ministry of Truth, indeed. How apt.
Hopefully the 50 votes won't be found.
You've hit a homer, here, M. Sim!
I especially like "See how they subtly blame inflation on people (especially poor people!) having money?"
Didn't Manchin also claim the bill retires some Federal debt? (What a shell game.)
Man, only a deplorable would oppose this bill; It has everything in it! /sarc off
Don't worry the dumbocraps will get their "super election fortification." They have all our money to pay all those ballot box stuffers and other malcontents.
heh, SuperElection
WonderTwin Powers, Activate!
Form of: Propaganda
Shape of: Lies
now, go get 'em, Gleek!
I can't believe that I still get surprised at some of the things government does. WTH? The good news... I think way more people are seeing the insanity now (not that that does anything to change it). But maybe that's just me wearing rose colored glasses.
Now you tell us that printing worthless money fails to halt inflation? Agh!
Here's a thought: Team Biden has backers. Said backers have been promised profits. So, Team Biden now has to pay the piper. Doesn't have to be more complex than that.
Of course, the incompetence, arrogance, hubris and ignorance on display doesn't help. And even Keynes himself warned that you couldn't run a nation's economy on his idea of debt-funded stimulus to get out of recessions. What Team Biden's doing is akin to using a heart-starter to try and keep the heart running. A brief respite at best with long-term permanent damage no matter what happens.
On top of the fact that it won't actually reduce inflation, the Joint Committee on Taxation's analysis shows that the "distributional effects" will amount to an increase in taxes almost across the board on all income levels for several years. Remember when Brandon promised nobody earning less than $400,000 would pay a single cent more in taxes? The JCT determined that was basically a lie, since the poor will have to help bear the cost of raising taxes on businesses. Actually, I believe that's typically called "inflation", but maybe I'm just confused... Anyway, I'm sure the resident will blame it on covid and Putin, so it's all good.
https://www.finance.senate.gov/imo/media/doc/jct_distributional_effects_inflation_reduction_act.pdf
Two things, the first an inquiry and the second an observation:
(1) An economist on Fox made the claim that elements of the bill would affect pass-through entities, no matter their income level. Small businesses are almost universally "pass-through entities," such as S corps or LLCs. Does anyone know if this is true? I tried reading the bill. It's 725 pages long and I don't have a good enough knowledge of the prior laws to know how the changes actually affect the tax code.
(2) The Democrats almost have to pass this bill for the ACA extension. A chunk of Americans have absolutely no idea what health insurance costs, because they get it through their employer, they have Medicare or Medicaid, OR they go through the ACA. They might pay something, but most people don't even come close to paying what the insurance companies actually price the plans at.
My other half and I are in our late 40s and together we pay $820 a month for a bronze (brown) plan, with a combined $14000 deductible. We make too much to get help (which is no impressive thing as the cut off for "help" for a couple w/o kids is $60,000 adjusted gross income, so not hard to reach if you're working at all). Our plan is more than any other payment we have, including our mortgage, and we're basically out $7000 apiece before the thing kicks in. And this is the most reasonable plan I found that allowed us to utilize the medical system in town we prefer.
Now imagine all those people getting subsidized by the ACA suddenly being *forced* to purchase plans at those prices. The ACA (otherwise known as "Obama's legacy") has made the medical system unaffordable for nearly the entire population, so there is almost no way they can't not pass this bill if they don't want the American public understanding what even the shining star of their party has done to the very people they supposedly champion, the working class.
Libertarian candidates look better and better to me. First time tomorrow, I will vote for one for State Auditor. 🙂
Pay attention America! YES, our politicians do think we are that stupid and lazy!! This is the “Opposite” Bill
Hijacking the top of the comment section to see if everybody is having the same problem I am: Can anybody get to the actual data at https://protect-public.hhs.gov/ right now? They 'mitigated' over to ArcGIS and suddenly the page is requiring a log-in, which I can't seem to make the system accept. This could be an error, but...........
The only new law we need is the Government Reduction Act.