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US US Politics General - Discussion of President Biden and other politicians
- Thread starter SeniorFuckFace
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- Oct 20, 2019
It's not enough for Trump to win. People need to push and push hard to get Progressive/Soros/Clinton/RINO faction people out of every elected office there is - minor officials, judges, sheriffs, everything. The machinery of state must be reclaimed. Not just the captain's chair.
Generals literally lied to the president because they didn't like his policy, criminals are let off because of their political connections, investigations dropped, Intelligence Agencies are controlled only in the barest sense.
Vote, vote, vote - everywhere. Most small elections are decided by a handful of people.
- Joined
- Jan 2, 2020
Article: https://longisland.news12.com/bidens-budget-plan-higher-taxes-on-rich-lower-deficits
Archive: https://archive.ph/zbBSc
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President Joe Biden released a budget blueprint Monday that calls for higher taxes on the wealthy, lower federal deficits, more money for police and greater funding for education, public health and housing.
In essence, it tries to tell voters what a diverse and at times fractured Democratic Party stands for ahead of the midterm elections that could decide whether Congress remains under the party's control.
The bottom line: Biden is proposing a total of $5.8 trillion in federal spending in fiscal 2023, which begins in October, slightly less than what was projected to be spent this year before the supplemental spending bill was signed into law this month. The deficit would be $1.15 trillion.
There would be $795 billion for defense, $915 billion for domestic programs, and the remaining balance would go to mandatory spending such as Social Security, Medicare, Medicaid and net interest on the national debt.
The higher taxes outlined on Monday would raise $361 billion in revenue over 10 years and apply to the top 0.01% of households. The proposal lists another $1.4 trillion in revenue raised over the next decade through other tax increases that are meant to preserve Biden's pledge to not hike taxes on people earning less than $400,000.
The 156-page plan also shows the splinters that persist in Biden's coalition and the possible gaps between the promises of what is being offered and the realities of what ultimately emerges. Biden has backed many of these ideas previously without necessarily getting a full buy-in from Congress.
The proposal includes a minimum 20% tax on the incomes of households worth $100 million or more, similar to a proposal Democrats in Congress began debating late last year that failed to clear the Senate.
More money would go to support law enforcement, yet bipartisan efforts at police reform have failed. The budget assumes - with a high degree of uncertainty based on forecasts made last November - that inflation at a 40-year peak gets back to normal next year.
“Budgets are statements of values,” Biden said in a statement, “and the budget I am releasing today sends a clear message that we value fiscal responsibility, safety and security at home and around the world, and the investments needed to continue our equitable growth and build a better America.”
It’s a midterm elections pitch to a nation still off balance from a chaotic few years caused by the pandemic, an economic recession, a recovery, challenges to U.S. democracy, and war in Ukraine. The Biden budget foresees cutting annual deficits by more than $1 trillion over the next decade. Those reductions would occur in large part through higher taxes and the expiration of relief spending tied to the coronavirus outbreak that began in 2020.
While the budget would elevate funding for education, public health and provide $48 billion to increase the supply of affordable housing, it fails to spell out what the broader successor to Biden’s stalled “Build Back Better” agenda would be. That proposal from last year included money for child care, preschool, clean energy and lower health care premiums, but it was blocked by Sen. Joe Manchin of West Virginia, the decisive Democratic vote.
White House Budget Director Shalanda Young told reporters the blueprint does not include line items tied to that possible bill because “discussions with Congress are ongoing.” But the budget plan includes a “ deficit neutral reserve fund” to account for a possible agreement being reached.
The Biden administration looked at a tax increase last year that resembles the 20% minimum on the full income of people worth $100 million or more. But Manchin nixed that idea as divisive. What the Biden administration outlined on Monday would raise $361 billion over 10 years and apply to the top 0.01% of households. The proposal lists another $1.4 trillion in revenue raised over the next decade through other tax changes.
Among the tax changes is a 28% corporate tax rate and top individual rate of 39.6%, both increases.
Undergirding the plan is a forecast that the economy will return to normal next year after the unprecedented spending tied to the pandemic and inflation. The budget forecasts 4.7% inflation this year and 2.3% in 2023, which would be down from 7% in 2021. Yet prices kept climbing in the first two months of 2022, and Russia's invasion of Ukraine pushed oil, gasoline and natural gas prices higher in ways that could spread across the economy.
Cecilia Rouse, chair of the White House Council of Economic Advisers, said the administration expects “the economy to normalize” as the country works through waves of the pandemic, supply chain pressures ease and the “extraordinary measures” of support tied to the coronavirus roll off the budget. That normalization would imply inflation falling back to its more typical levels, “but there’s tremendous uncertainty,” Rouse said.
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Archive: https://archive.ph/zbBSc
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Biden's budget plan: Higher taxes on rich, lower deficits
President Joe Biden released a budget blueprint Monday that calls for higher taxes on the wealthy, lower federal deficits, more money for police and greater funding for education, public health and housing.
In essence, it tries to tell voters what a diverse and at times fractured Democratic Party stands for ahead of the midterm elections that could decide whether Congress remains under the party's control.
The bottom line: Biden is proposing a total of $5.8 trillion in federal spending in fiscal 2023, which begins in October, slightly less than what was projected to be spent this year before the supplemental spending bill was signed into law this month. The deficit would be $1.15 trillion.
There would be $795 billion for defense, $915 billion for domestic programs, and the remaining balance would go to mandatory spending such as Social Security, Medicare, Medicaid and net interest on the national debt.
The higher taxes outlined on Monday would raise $361 billion in revenue over 10 years and apply to the top 0.01% of households. The proposal lists another $1.4 trillion in revenue raised over the next decade through other tax increases that are meant to preserve Biden's pledge to not hike taxes on people earning less than $400,000.
The 156-page plan also shows the splinters that persist in Biden's coalition and the possible gaps between the promises of what is being offered and the realities of what ultimately emerges. Biden has backed many of these ideas previously without necessarily getting a full buy-in from Congress.
The proposal includes a minimum 20% tax on the incomes of households worth $100 million or more, similar to a proposal Democrats in Congress began debating late last year that failed to clear the Senate.
More money would go to support law enforcement, yet bipartisan efforts at police reform have failed. The budget assumes - with a high degree of uncertainty based on forecasts made last November - that inflation at a 40-year peak gets back to normal next year.
“Budgets are statements of values,” Biden said in a statement, “and the budget I am releasing today sends a clear message that we value fiscal responsibility, safety and security at home and around the world, and the investments needed to continue our equitable growth and build a better America.”
It’s a midterm elections pitch to a nation still off balance from a chaotic few years caused by the pandemic, an economic recession, a recovery, challenges to U.S. democracy, and war in Ukraine. The Biden budget foresees cutting annual deficits by more than $1 trillion over the next decade. Those reductions would occur in large part through higher taxes and the expiration of relief spending tied to the coronavirus outbreak that began in 2020.
While the budget would elevate funding for education, public health and provide $48 billion to increase the supply of affordable housing, it fails to spell out what the broader successor to Biden’s stalled “Build Back Better” agenda would be. That proposal from last year included money for child care, preschool, clean energy and lower health care premiums, but it was blocked by Sen. Joe Manchin of West Virginia, the decisive Democratic vote.
White House Budget Director Shalanda Young told reporters the blueprint does not include line items tied to that possible bill because “discussions with Congress are ongoing.” But the budget plan includes a “ deficit neutral reserve fund” to account for a possible agreement being reached.
The Biden administration looked at a tax increase last year that resembles the 20% minimum on the full income of people worth $100 million or more. But Manchin nixed that idea as divisive. What the Biden administration outlined on Monday would raise $361 billion over 10 years and apply to the top 0.01% of households. The proposal lists another $1.4 trillion in revenue raised over the next decade through other tax changes.
Among the tax changes is a 28% corporate tax rate and top individual rate of 39.6%, both increases.
Undergirding the plan is a forecast that the economy will return to normal next year after the unprecedented spending tied to the pandemic and inflation. The budget forecasts 4.7% inflation this year and 2.3% in 2023, which would be down from 7% in 2021. Yet prices kept climbing in the first two months of 2022, and Russia's invasion of Ukraine pushed oil, gasoline and natural gas prices higher in ways that could spread across the economy.
Cecilia Rouse, chair of the White House Council of Economic Advisers, said the administration expects “the economy to normalize” as the country works through waves of the pandemic, supply chain pressures ease and the “extraordinary measures” of support tied to the coronavirus roll off the budget. That normalization would imply inflation falling back to its more typical levels, “but there’s tremendous uncertainty,” Rouse said.
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- Joined
- Jun 6, 2020
But aren't the rich his biggest donors?
God of Nothing
kiwifarms.net
- Joined
- Aug 31, 2016
it's impossible to tax the rich
they can just move to another country with their assets
this is some 'LOOK, HE'S DOING SOMETHING GOOD' move to try and raise those poll numbers
they can just move to another country with their assets
this is some 'LOOK, HE'S DOING SOMETHING GOOD' move to try and raise those poll numbers
Random Internet Person
kiwifarms.net
- Joined
- Jun 28, 2019
As cool as this might be, it's hard to know much without knowing where some of the major cities are.
Oh God, this fanfiction again? I heard this song and dance after the election.
And let me guess: the first leader in this new system will be Steven Armstrong.
- Joined
- Nov 29, 2020
Hey, he'd make a better President than these chickenshit bureaucrats have been.
He'd get my vote.
- Joined
- Apr 1, 2017
I'd vote for him.
Could you just see him suplexing Congress? All at the same time.
Lmao, I just saw two polls that have him down. NBC has dropped to 40% approval and so has Reuters, with most others certainly not going up either
- Joined
- Jul 17, 2019
- Joined
- Apr 21, 2013
They're not gonna tax the rich. All the taxes are going to the low-middle class. Even if they do "tax the rich", there'll be loopholes to abuse to not get taxed as much.
- Joined
- Apr 6, 2015
AGreatDipAtAFairPrice
kiwifarms.net
- Joined
- Jun 18, 2019
The Biden Administration is well below 40. A few months ago some polling firms had him in the 30s and nothing has gotten better. Knowing how we know they've already bullied infotainment media to coddle their balls, there must be some mandate to never allow a polling agency considered to be reputable to show him below 40. The administration must have gone apeshit ballistic over that polling from a few months ago because even though nothing has gotten better and several things have gotten noticeably worse, he's always suspiciously 40 or higher.
verissimus
kiwifarms.net
- Joined
- Nov 3, 2018
Especially since this is the proposed budget for 2023. NOT 2022.
- Joined
- Aug 11, 2020
In the past month, I noticed a lot of my liberal friends and family members were shocked at how much they owed when they were filing their taxes. I couldn't help myself so I said "did you make over 400k this year?" Then when they said no, I just gave a shit eating grin and said "oh, it looks like Biden lied then"
- Joined
- Feb 6, 2018
Or they can use their teams of tax lawyers and accountants to either offshore their capital and investments, or get massive write offs for charitable contributions.
- Joined
- Apr 21, 2013
They oversample dems who are NPC that'll support Biden even if the country is literally on fire. China could have invaded and taken over the entire west coast and making movement eastward and they'll still say Biden is doing a great job.
- Joined
- Jul 17, 2019
"Adults" are the worst polling demographic because of this bullshit.
- Joined
- Apr 6, 2015
this is an administration so sensitive, they made youtube remove showing downvotes
Standardized Profile
kiwifarms.net
- Joined
- Oct 5, 2018
I deny the 2020 election. That's political speech. Come get me. Try to prosecute me for expressing a political opinion. I have lots more.
The 0.01% of individuals/households he's targeting can pay a little extra without feeling it. The 33% increase to the corporate income tax (21% to 28%) will hit a lot of lower and middle class people though. The increased costs will be passed on to consumers, or they'll be a drag on expansion and retard our economic recovery, or they'll reduce dividends and hurt retirement accounts.
- Joined
- Oct 20, 2019
Well, it's impossible to tax the very wealthy. But what you can do is tax the upper middle class whom poorer people might consider rich, but aren't in the political class like the very rich and can't just up and leave.
But wherever he sets the tax rate, the biggest issue is that there's a trillion dollar deficit in this budget. It's the difference which counts. And it brings to my mind a line from Dickens:
“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
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