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President Biden's Infrastructure Plans

Loren Pechtel said:
TV and credit cards said:
As mentioned, our representatives get to decide.
I believe current law is the first $11,700,000 of an inheritance is the cream. So, when junior’s last billionaire parent dies, he gets this plus 60% of anything above and beyond.
Some call this fair because “family”. I’ve yet to hear an explanation beyond that. I say junior can take that $11.7M and walk away. That the rest can go to the country that provided the tools necessary for his gifted parents to generate this wealth to help those less gifted, we children of a lesser god. If the apple didn’t fall far from the tree, $11.7M should be enough of a kick-starter for junior to generate more great wealth.
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Except those aren't the choices.

Rather, it's junior gets the $11.7M + 60% and the state gets 40%, or junior gets $11.7M, the rest is spent and the state gets nothing.

100% tax rates produce nearly zero tax revenue.
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Who spent what when? Whatever.

While I may have erred in conflating estate and inheritance as it pertains to taxation, I cannot find anything that would support your claim. Perhaps you can. Being mindful of course to ensure it pertains to immediate family.

https://taxfoundation.org/state-estate-tax-state-inheritance-tax-2021/
 
TV and credit cards said:
Loren Pechtel said:
TV and credit cards said:
As mentioned, our representatives get to decide.
I believe current law is the first $11,700,000 of an inheritance is the cream. So, when junior’s last billionaire parent dies, he gets this plus 60% of anything above and beyond.
Some call this fair because “family”. I’ve yet to hear an explanation beyond that. I say junior can take that $11.7M and walk away. That the rest can go to the country that provided the tools necessary for his gifted parents to generate this wealth to help those less gifted, we children of a lesser god. If the apple didn’t fall far from the tree, $11.7M should be enough of a kick-starter for junior to generate more great wealth.
Click to expand...

Except those aren't the choices.

Rather, it's junior gets the $11.7M + 60% and the state gets 40%, or junior gets $11.7M, the rest is spent and the state gets nothing.

100% tax rates produce nearly zero tax revenue.
Click to expand...

Who spent what when? Whatever.

While I may have erred in conflating estate and inheritance as it pertains to taxation, I cannot find anything that would support your claim. Perhaps you can. Being mindful of course to ensure it pertains to immediate family.

https://taxfoundation.org/state-estate-tax-state-inheritance-tax-2021/
Click to expand...

It doesn't happen in a vacuum. If they know it's simply going to be taken upon death they'll arrange to spend it before death.
 
Loren Pechtel said:
TV and credit cards said:
Who spent what when? Whatever.

While I may have erred in conflating estate and inheritance as it pertains to taxation, I cannot find anything that would support your claim. Perhaps you can. Being mindful of course to ensure it pertains to immediate family.

https://taxfoundation.org/state-estate-tax-state-inheritance-tax-2021/
Click to expand...

It doesn't happen in a vacuum. If they know it's simply going to be taken upon death they'll arrange to spend it before death.
Click to expand...
Spent, or shifted into trusts, that split off the amount above $11.x million into a charitable foundation at death. I could envision a sizable bag of largish diamonds bought in the last years, if Uncle Sam got that greedy; as well as more expats created, heading to friendlier tax countries like Singapore, especially for the real super rich...
 
So, to get back to the infrastructure bill ...

Pelosi said that there will be a vote tomorrow, but who knows. She already promised a vote for Monday, but reneged on it.
renege.png

Pelosi Announces Vote on $1 Trillion Bipartisan Infrastructure Bill

I would not be surprised if she reneges again ...

The fauxgressives are of course threatening to torpedo the bill because they want the $3.5T Speandapalooza to pass first.

I think Pelosi should bring the bill to the vote. Call their bluff. Let them vote against very necessary infrastructure, but let them be on record. Let their yay be yay, their nay be nay, and in the case of AOC, her present be present.

And if the Republicans' were smart (and usually they are not, granted) they'd vote for the bill allowing it to pass without the Fauxgressive Caucus. The benefits for Republicans are myriad. It would pwn the libs progs. It would allow Reps to paint Dems as the obstructionists even when in power. And it would effectively kill the $3.5T bill. One could imagine Manchin, Sinema and the House moderates being shamed into voting for the $3.5T bill or something close to it if Dems pass the infrastructure bill. But there would be absolutely no reason for them to cave if the bill passes but Fauxgressives in the House vote against it.
 
For the life of me, I have no idea why the price tag on the second reconciliation bill hasn't been dropped yet. It is like we have people working on a bill that have no idea how to get legislation through Congress.
 
Business Insider has an article titled
Democratic sources tell us Biden's Capitol Hill allies are losing their nerve after president's missteps​
But I can't read it: it's behind a pay-wall.

What are they talking about? I didn't think Biden was doing so badly. He's only got 48 Senators on his team, but is that his fault?
 
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5 reasons why this week's political war is different from all others | TheHill
First, most political wars are binary: Republicans versus Democrats, House versus Senate, Congress versus the president. Not this. No, this is more like a political world war in which everyone is fighting different battles on different fields with varying strategic objectives.

Sure, for the moment it’s a battle between progressive and moderate Democrats. But Sen. Mitch McConnell (R-Ky.) isn’t exactly like Switzerland, pledging neutrality and resisting intervention.

Second, this war is different from others because of the intense polarization of the country. ...

Third, this isn’t just about moderates versus progressives in a tax and spend argument. This is further complicated by other factions holding out for more parochial interests. ...

Fourth, the battle is not focused singularly on what’s written in legislation this week. It’s also about what’s written in a campaign television spot a year from now ...

Fifth, the battle is intractably complicated by big, aspirational ideas resting on razor-thin majorities. ...
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Ads like "My opponent raised taxes!!!"

Also mentioning the Obama years, when Obamacare barely passed.
 
House Democrats delay vote on infrastructure bill after late-night negotiations - "Centrist Democrats want to pass the $550 billion bill, but progressives want to delay a vote to gain leverage for a larger safety net package."

Taniel on Twitter: "Rep. Jayapal and the CPC just succeeded at something that eluded progressives in 2009/2010 ..." / Twitter
Rep. Jayapal and the CPC just succeeded at something that eluded progressives in 2009/2010: staring down Senate moderate & refusing to just roll with their terms & fait accomplis. The expectation that that’s how this script works has long made it a self-fulfilling prophecy.

Progressives, defined broadly, made a very big show at that time of ruling out supporting a health-care bill that’d lack a public option. Say what you will about how things unfolded and what ought to have happened — it’s hard to regain negotiation credibility for such threats.
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The Progressive Caucus Wields Power - The American Prospect - "In a rare moment in Congress, progressive Democrats held the line, for now."

Paul Hogarth on Twitter: "House progressives led by @RepJayapal really saved our country last night. Standing up for 96% of Democrats against the 4% who do Corporate America's bidding." / Twitter
noting
The ReidOut on Twitter: ".@RepJayapal: "Four percent of all the Democrats in the House and Senate are blocking the Build Back Better Act from passing. Ninety-six percent agree with us." #TheReidOut #reiders (vid link)" / Twitter
 
I like how McCarthy won't vote for the hard infrastructure bill because he says the other infrastructure bill is attached to it. It is the dumbest fucking complaint ever! I don't like Bill B, so I won't vote for Bill A. WTF?!

Meanwhile in the world of Politics and the 'soft infrastructure'.

A1) Bill applies to everyone - We need means testing!
A2) Bill applies to those that don't pass the threshold established for means testing - It's just more welfare!
 
I confess amusement at the left's attack on the WV and AZ senators. While I am grateful for them, it is forever true that honey is sweeter than vinegar. And the left is comically trying to persuade with vinegar.
 
Trausti said:
I confess amusement at the left's attack on the WV and AZ senators. While I am grateful for them, it is forever true that honey is sweeter than vinegar. And the left is comically trying to persuade with vinegar.
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Why are you grateful for them?
 
Trausti said:
I confess amusement at the left's attack on the WV and AZ senators. While I am grateful for them, it is forever true that honey is sweeter than vinegar. And the left is comically trying to persuade with vinegar.
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John McCain, Mitt Romney and Liz Cheney agree with you.
 
Trausti said:
I confess amusement at the left's attack on the WV and AZ senators. While I am grateful for them, it is forever true that honey is sweeter than vinegar. And the left is comically trying to persuade with vinegar.
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So criminals are not to be punished for committing crimes but gently persuaded not to commit crimes?
 
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