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Well yeah, that is th egoal.
U.S. Budget Negotiations
- Thread starter nycfan
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Union negotiations underway in the healthcare system of my employ. The system negotiators have stated in no uncertain terms that insurance premiums will double and deductibles will rise 20-30%, due to the healthcare industry’s massive exposure to tariffs and the inevitable rise in costs FOR ALL OF US (including you, maga and Good Germans) when millions get kicked off Medicaid and now rely entirely on the ED for healthcare.
Mind you, this particular union represents a very wide range of professions, from physician assistants to the folks that sanitize rooms.
The bill is not only a blatant transfer of wealth, but it’ll accelerate the maga project of killing more people now, to complement their destruction of the CDC and NIH, which 100% will kill more people in the future.
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TangledUpInBlue06
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Even aside from the mechanics, what's the goal from a policy perspective? You're incentivizing fewer people working more hours - new hiring will slow down. You're incentivizing employers to lower base wages now that employees can take home more for the same work. IMO it's just bad policy. If we want to put more dollars in the pockets of hourly workers, let's just lower the bottom marginal rates.
superrific
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Not really, as I understand the provision. It's more about making these particular contempt findings go away.Does the Big Stupid Bill actually attempt to strip courts of their contempt powers?
The Hidden Provision in the Big Ugly Bill that makes Trump King.
Don't let this happenrobertreich.substack.com
superrific
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LOL. It was something he thought up on the fly. It was first no tax on tips, but then someone told him that wasn't going to help him in the Rust Belt so he included no tax on overtime. It was all spur of the moment stupidity.
There is no goal.
TangledUpInBlue06
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I mean, we all get this. It's just a terrible way to legislate. I hope even the MAGA on here can acknowledge that (though I understand saying so explicitly might cost them their spot in line to kiss the king's feet).
Wow, a really good talking point about employer incentives.
Somewhat related to your point, my Heat and Air friend who employs many younger folks in small town America told me after the election how popular this idea was with his employees. And the reason we talked about it was because he had trouble getting folks to take overtime because the extra effort didn't show up in their paychecks. I suspect the real reason it doesn't show up is the Earned Income Tax Credit phase out. Maybe not, because he does pay pretty well.
DiehardHeelFan
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The Largest Upward Transfer of Wealth in American History
House Republicans voted to advance a bill that would offer lavish tax cuts for the rich while slashing benefits for the poor.
The Largest Upward Transfer of Wealth in American History
House Republicans voted to advance a bill that would offer lavish tax cuts for the rich while slashing benefits for the poor.
*behind a paywall :/
The wealth transfer “is not a side effect of the legislation, but its central purpose. The “big, beautiful bill” would pair huge cuts to food assistance and health insurance for low-income Americans with even larger tax cuts for affluent ones.”
The Pubs are pissing on the less fortunate and telling them to be happy, it’s trickling down as expected.
superrific
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Maybe that's what Jordon is doing. She's our coach's presidential envoy?
TangledUpInBlue06
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Interesting, and your instinct seems sound here. Though the EITC phaseout would show up on their tax return, not their paycheck. Maybe just semantics. But there's no reason 1.5 pay wouldn't be ~50% more beneficial unless the extra income pushes people out of other benefits.
Duke Mu
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Here is my plea, fwiw.
The million person march on Washington, DC needs to happen NOW. While the budget is being debated.
The money is on the table and the billionaires are taking it.
At the expense of our elderly, sick, disabled, working class, and middle class.
The good jobs of the future in technology are moving to China. Yesterday was a great day for China as R&D investment was slashed by the House bill. Couldn’t Jeffries find 1-2 more votes?? The ROI on science investment is far higher than any other investment by Congress. 60% of the jobs created after WWII have emanated from Federal R&D spending to NIH, NASA, NSF, small business, DOE, DOD, etc. We’re killing pump that primes innovation and job creation!!!
Trump’s deficit spending (25% of the nation’s total debt during Trump 1.0) will bankrupt America, just like during COVID and most of Trump's “business” ventures until he leveraged political office for grifting. Trillions are being lost.
And, YES, I have a PLAN that will shrink the deficit, create jobs, and lead to PROSPERITY again.
1. Investment in R&D: Increase NIH, NASA, NSF, DOE investment by 50%. Migrate 50% of INTERNAL NIH lab support to academia and small business/startups/pipeline. My laboratory has made new discoveries regarding spaceflight that are being translated into new therapeutics for Duchenne muscular dystrophy, aging, and metabolic disease.
2. Double taxes on hedge fund managers, crypto. Market manipulation, insider trading, emoluments, grifting need to stop. We also need to balance the budget and making hedge fund managers who win whether the market goes up or down need to pay their fair share.
3. Cut the tax breaks for the top 1% and billionaires on the 2017 tax bill by 50% Have a minimum tax for billionaires.
4. Restore PERSONAL EXEMPTIONS! My middle class taxes INCREASED 30%+ (I have the receipts!) due to the 2017 tax bill so Katy Perry could go to space!
5. Freeze the Standard Deduction (savings). The 2017 tax code punishes home ownership for the working and middle class and rewards rental property and real estate owners in red states (ex. Florida). I wonder who that could be?
6. Restore tax exemptions for truckers and our essential workers! Remove taxes on Social Security benefits. We're taxing a tax!
7. Restore the IG for the Pentagon and flush out 10% savings while modernizing our military. Ya’ll need to talk to Bob Gates and former generals, admirals. Support NATO and Ukraine!
8. Propose saving SS, Medicare, ACA, Medicaid through consolidation of Medicare, Medicaid and ACA into one plan with multiple layers for age, family situation, etc. This will save trillions over 10 years. Include a PUBLIC OPTION that competes with private sector insurance.
9. To create jobs and revolutionize energy - we need a Hu(man) on the Moon project to develop and utilize for power plants FUSION technology. Powerful magnets that use SUPERCONDUCTOR technology have been developed that will safely superheat hydrogen to make helium and use the power of the Sun to provide energy to the people. A massive wave of high tech American jobs will be created.
10. Codify the Congress’ constitutional responsibility to set tariffs and halt the Insanity!
Let’s GO! We can’t wait for the next election. There may not be another one given the nation’s rapid slide into FASCISM.
The million person march on Washington, DC needs to happen NOW. While the budget is being debated.
The money is on the table and the billionaires are taking it.
At the expense of our elderly, sick, disabled, working class, and middle class.
The good jobs of the future in technology are moving to China. Yesterday was a great day for China as R&D investment was slashed by the House bill. Couldn’t Jeffries find 1-2 more votes?? The ROI on science investment is far higher than any other investment by Congress. 60% of the jobs created after WWII have emanated from Federal R&D spending to NIH, NASA, NSF, small business, DOE, DOD, etc. We’re killing pump that primes innovation and job creation!!!
Trump’s deficit spending (25% of the nation’s total debt during Trump 1.0) will bankrupt America, just like during COVID and most of Trump's “business” ventures until he leveraged political office for grifting. Trillions are being lost.
And, YES, I have a PLAN that will shrink the deficit, create jobs, and lead to PROSPERITY again.
1. Investment in R&D: Increase NIH, NASA, NSF, DOE investment by 50%. Migrate 50% of INTERNAL NIH lab support to academia and small business/startups/pipeline. My laboratory has made new discoveries regarding spaceflight that are being translated into new therapeutics for Duchenne muscular dystrophy, aging, and metabolic disease.
2. Double taxes on hedge fund managers, crypto. Market manipulation, insider trading, emoluments, grifting need to stop. We also need to balance the budget and making hedge fund managers who win whether the market goes up or down need to pay their fair share.
3. Cut the tax breaks for the top 1% and billionaires on the 2017 tax bill by 50% Have a minimum tax for billionaires.
4. Restore PERSONAL EXEMPTIONS! My middle class taxes INCREASED 30%+ (I have the receipts!) due to the 2017 tax bill so Katy Perry could go to space!
5. Freeze the Standard Deduction (savings). The 2017 tax code punishes home ownership for the working and middle class and rewards rental property and real estate owners in red states (ex. Florida). I wonder who that could be?
6. Restore tax exemptions for truckers and our essential workers! Remove taxes on Social Security benefits. We're taxing a tax!
7. Restore the IG for the Pentagon and flush out 10% savings while modernizing our military. Ya’ll need to talk to Bob Gates and former generals, admirals. Support NATO and Ukraine!
8. Propose saving SS, Medicare, ACA, Medicaid through consolidation of Medicare, Medicaid and ACA into one plan with multiple layers for age, family situation, etc. This will save trillions over 10 years. Include a PUBLIC OPTION that competes with private sector insurance.
9. To create jobs and revolutionize energy - we need a Hu(man) on the Moon project to develop and utilize for power plants FUSION technology. Powerful magnets that use SUPERCONDUCTOR technology have been developed that will safely superheat hydrogen to make helium and use the power of the Sun to provide energy to the people. A massive wave of high tech American jobs will be created.
10. Codify the Congress’ constitutional responsibility to set tariffs and halt the Insanity!
Let’s GO! We can’t wait for the next election. There may not be another one given the nation’s rapid slide into FASCISM.
On #6, its seems the logic is half of your contributions were made by the employer. So taxing a tax may not be accurate. Does that justify the tax? That's another question. But it generally comes from high earners and adds quite a bit of money to the social security trust fund that will have to be made up.
The real crime may be the 18 line worksheet involved in calculating what is to be taxed. I will always do my own taxes, and I dread as I age having to do that because me and worksheets don't get along. Not there yet, but not far off!
Billionaire Buying Sandwich Unfairly Targeted With 5% Sales Tax
NEW YORK CITY—Calling the expense class warfare, local billionaire Kenneth Anderson was unfairly targeted Thursday with a 5% sales tax on a sandwich he was buying. “You’re singling me out with this indefensible charge because I’m wealthy, and I will not stand for it!” said Anderson, adding that...
theonion.com
GoHeelsweeeehoooo
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No tax on tips is some serious bullshit
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I have a 40 year old buddy that works at the best restaraunt in a 60,000 pop city
He makes probably 40-50, 000 a year in tips
I mean I am happy for Chris-but its bullshit
Now I have no clue how much in cash tips he declares today
When I tip well-I always leave cash on the table