What bothers me about this whole discussion is good tax policy and politics are being ignored and Biden may be missing an opportunity for Democrats to lock in the suburbs for the next generation.
That is more people care about the SALT (State and Local Tax) limitation on deductions than the corporate tax rate. For sure Democrats from progressive taxed states need to hold the line on refusing to agree to any deal that does not lift the limit on the SALT reduction. The only reason for the SALT limitation was to punish âBLUEâ states but in reality it punished progressively (states that tax wealthy more than others) including several swing states like Wisconsin and Michigan.
Ending the SALT reduction would force Republicans like Ron Johnson to vote against cutting taxes many in his home state in favor of corporate stockholders in other states. It would be for many Republicans a political disaster and would also be good policy.
They should be less worried about what âtheir grandchildrenâ will end up paying for and more about what Republicans like Matt Gaetz may end up doing to âtheir grandchildrenâ.
Thatâs true in the real world, but the GOP has already jumped on the deficit and National Debt bogeyman.
âI think one thing the Biden administration really has to focus on is the risk of what all this debt is going to do to us.â - Sen. Rick Scott
"If itâs going to have massive tax increases and trillions more added to the national debt, itâs not likely.â - Senate Minority Lead Mitch McConnell
We all know the GOP is no stranger to rabid hypocrisy, but their ideology has put them in a very tight box. âRead my lips: no new taxesâ coupled with no new debt means nothing gets done unless you scrap SS, Medicare, and every other federal program that isnât military.
Someone - I canât recall who it was - hilariously Tweeted that he was surprised that Nugent got COVID-19, since Ted probably would have preferred COVID-13 or younger.
So the republicansâ initial offer during the meeting was that states could shift pandemic relief funds to infrastructure projects? Thatâs not just ânothingâ, itâs less than nothing. âWe are so kind that we will graciously allow you to give back some of the money we just appropriated for you so that it can be spent on something else.â
They end up in landfills when the locals refuse to accept them for recycling. From what I have experienced, having solar installed on my homes for over 20 years now, the actual cost of recycling a solar panel has come down just as much and just as fast as the initial purchase of panels.
Let me also add that in many cases it is not those that purchase the solar system but those who purchase a home with solar installed that seem to be a major problem. Ă la St Raygun immediately after he moved into the WH.
âIf itâs a port, the people who buy, sell and use the goods shipped into the port; if itâs a rail system, the people who buy, sell and use the goods shipped by rails; If itâs highways, it ought to be the people who buy, sell and use the goods transported on the highways.â
That provides a much higher payer base, which in turn reduces the economic cost to any one segment of society.
Biden wants to raise the corporate tax rate from 21 to 28 percent to help finance the infrastructure bill. (It was 35 percent before the 2017 Trump tax cut, so Biden wants to restore half of the reduction.) Repubs donât want to raise it at all. Biden will probably end up proposing 25 percent as a compromise, especially to bring Manchin along. Repubs will refuse to budge at all. Biden will shrug his shoulders, weâll pass it with some sort of corporate tax increase, and Repubs and much of the media will howl about how Democrats ârammed through a partisan billâ and wouldnât bargain, etc. Itâs the GOP way; âcompromiseâ means Democrats move all the way to whatâs essentially the Repub position, and even then Repubs will most likely refuse to provide a single vote in support. F 'em.
Remember the COVID stimulas/relief plan? He asked the goppers in, heard their pathetic such as it was counterproposal, politely chuckled and told them, no, thatâs not going to get you to the table, let alone have a say. Weâll just pass our bill, but thanks for stopping by.
