Tuesday, November 16, 2021

Biden and Progressives

Seem to going for more spending and taxes.  Oh well, hopefully more moderate heads will win in the end.

Kind of like when McCain chose to vote NO to ending ACA / Obamacare with no plan for what was to take it's place.  Why do parties try to over reach so often? :-( 

You know my crazy preference... Balance the budget by cutting entitlements and raising taxes...  Good thing I am not running for office.

26 comments:

Drewbie said...

I liked what Bernie said when the Pentagon bill came up for vote the other day. Why is there never any hand wringing about spending and deficits when it comes time to write that check? Why are the cuts you long for only from entitlements?

Sean said...

The BBB bill is remarkably responsible, given all that it does. Based on the CBO scores, it will only add $16B per year over the next decade to the deficit. That's miniscule in the whole scheme of things -- and many economists think that the CBO score on how much revenue will be raised by increasing IRS enforcement on wealthy tax cheats is low, so it's even possible that the BBB could end up being deficit-reducing.

John said...

Drewbie,
The first question would be, what do you want to cut from the Defense Dept?

This is an interesting slide deck that covers many spending / income topics.
Slides 15 - 17 seem most relevant to this discussion.

Defense spending is at a near modern day low as a % of GDP.

To me it is kind of welfare program where people actually have to work for their money.
Unlike the bill that Sean supports.

John said...

Here is a conservative perspective as to what is in the bill

John said...

I personally am hoping it stalls out in the Senate.

Why DEMs are giving the wealthy tax cuts is beyond me...

Sean said...

The BBB, taken as a whole, is not favorable for wealthy taxpayers.

John said...

Only those rich in Liberal States. :-O

John said...

It is definitely a BIG welfare / pro-union bill

John said...

One more summary

John said...

Can they Market it?

John said...

I might like this DEM

Sean said...

"Only those rich in Liberal States. :-O"

You should probably read up about the other provisions of the bill.

John said...

Just because they are raising taxes in some places does not negate the fact that they are cutting taxes for wealthy people who live in Blue states.

As you know, I am not a fan of Liberals passing Federal spending bills, and then not paying their full share of the cost of them.

Sean said...

"As you know, I am not a fan of Liberals passing Federal spending bills, and then not paying their full share of the cost of them."

Once again, we've traveled across the multiverse to Appelen World, where talking points reign and history doesn't exist.

Conservatives passed trillions of dollars in new spending over the Bush and Trump administrations and didn't pay for a dime of it, and you have the nerve to criticize Democrats for only paying 90%+ of BBB? You're a clown.

Laurie said...

‘Blue State Bailouts’? Some States Send Billions More to Federal Government Than They Get Back

Minnesota is number 6 on the list.

Who Gives and Who Gets?
Explore the Balance of Payments between States and the Federal Government

John said...

Sean,
I am often critical of Reagan, Bush, Trump and Republicans as you are aware.

They were incredibly fiscally irresponsible.

Laurie,
You are starting to sound like a conservative. I am aware that the wealthy states pay more and receive less. That is the Liberal religion. Tax the successful and give to the unsuccessful. While expecting nothing in the way of improvement.

That is why it is so hypocritical that the "Liberal DEMs" want to give wealthy people who live in Liberal states a BIG federal tax cut. :-O

Should I pay less in Federal taxes just because I choose to live in MN?

John said...

Should Sean vote to pass the Build Back Better bill and them avoid paying some of the expense because he lives in MN?

Laurie said...

MN already pays more than its fair share in federal taxes.

John said...

That is like saying that:

the wealthy pay more than their fair share of taxes.

Just because they pay far more than poorer citizens.



MN is blessed to be a wealthy state for many reasons.

Therefore the Liberal / Progressive view is that they should pay much more than the poorer states.

John said...

Apparently MN is #16 of GDP per Capita

Per the Liberal Mantra... Therefore MN has a responsibility to help support the bottom 25 states who are as fortunate.

John said...

And number 19 in total GDP

John said...

DEMs Fight over Tax Cut for the Rich

Sean said...

"That is why it is so hypocritical that the "Liberal DEMs" want to give wealthy people who live in Liberal states a BIG federal tax cut."

It's not the liberals pushing this, it's your beloved centrists. Your position on this is the same as Bernie Sanders and Ilhan Omar.

John said...

Well let's hope the Progressives win this then.

Though if I remember correct, you at one time were against limiting the SALT write off?

Have you come around to my way of thinking?

VOX SALT discussion

Sean said...

Generally speaking, I tend to agree with the notion that income should not be double-taxed. As a practical matter, I think something along the lines of the Sanders plan that would only apply the SALT deduction cap to high-income taxpayers is reasonable.

John said...

It will be interesting to see where this heads.