Read this! :
...a tiny progressive faction, six house members, refused to vote for the Manchin-Sinema sell-out.
www.bloomberg.com
Taxes
By
Ben Steverman
December 20, 2021, :
- Manchin says he can’t support Biden bill
- Legislation would help reduce economic inequality, backers say"
...now expect GDP growth to be 2% in the first quarter of 2022, down from a previous forecast of 3%.
www.barrons.com
Dec. 20, 2021 ....
Manchin and Sinema teamed up with their fellow, "bought off" G.O.P. senate buddy's to "get 'er done." Protect the wealthiest from any tax increases or increased IRS enforcement, increasing the debt via their "bi-partisan" infrastructure legislation,
the opposite of the BBB legislation the two bribed "democrats" refuse to support, even at the expense of their party's continuing influence. The pared in half BBB legislation is funded at $175 billion per year for ten years, vs projected ten year GDP of $288 trillion results in Manchin's excuses being exaggerations amounting to lies.
Storm damage and resulting economic disruption (prolonged power interruption, flooding) that could be prevented by BBB project expenditures with no prophylactic mitigation in sight.
If we need creative accounting to invest for the future, go for it.
www.nytimes.com
PAUL KRUGMAN
Aug. 5, 2021
"...bipartisan infrastructure bill — that is, a bill receiving support from a large enough minority of Republican senators to overcome the filibuster. This bill falls far short of what America really needs; it will be up to Democrats to fill the gaps with additional legislation,.
Still, it’s a major political achievement, especially after the way “infrastructure week” became a running joke during the Trump era.
But how did the Senate get there? The politics were fairly obvious: Infrastructure spending is
very popular, ,, Republicans didn’t want to be seen as complete obstructionists.
What wasn’t clear, however, was how the spending would be financed.
On the surface,
Republican demands should have made agreement impossible. G.O.P. senators
were adamantly opposed to tax increases. They also
blocked proposals to give the I.R.S. resources to crack down on widespread tax evasion — a stance that
even cynics like yours truly found a bit shocking.
What kind of party more or less openly aligns itself with wealthy tax cheats?.."
Which Trump 2017 tax cut is permanent? The tax cut on corporations!
The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the pandemic, according to the latest data from the Federal Reserve.
October 18, 2021
- The wealthiest 10% of American households now own 89% of all U.S. stocks, a record high that highlights the stock market’s role in increasing wealth inequality.
- The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the pandemic, according to the latest data from the Federal Reserve.
- The bottom 90% of Americans held about 11% of stocks, and added $1.2 trillion in wealth during the Covid-19 pandemic.
The Federal Reserve Board of Governors in Washington DC.
www.federalreserve.gov