Bernie Responds to Rand Paul's Budget Proposal "that calls for tax breaks for the wealthy and massive cuts to programs the American people need"

[Flash]

Libtards love high taxes for everybody, except themselves.

 

[BluesLegend]

Bernie needs to retire

His brain retired years ago.

 

[BluesLegend]

The Trump middle class tax cuts cost $200 billion a year?
Dems said he didn't cut middle class taxes. Weird.

Dems LIE. I quite enjoyed my Trump tax cut, FU Dems.

 

[Toddsterpatriot]

Did you predict inflation over 8%? I like Stiglitz, and what he warned against happening has happened. You are your fellow Republicans can bear most of the responsibility. Last year he said that temporary price hikes should be expected as the supply chain started recovering post pandemic. And the savings rate, which was through the roof under Trump started falling. Basically, pent up demand facing continued supply restrictions. But inflation has two components. the actual price increases and inflationary expectations. All you yahoos running around like chicken little screaming, "inflation, inflation, inflation" have achieved precisely what Stiglitz warned against, inflationary expectations fueling inflation momentum. It becomes self-fulfilling, like perceived gas shortages when everyone and their brother tops off their tanks and fills their pickup truck with gasoline containers and fills them up to.


Stiglitz mentions the increased child tax credits, daycare credits, and long term care assistance. That would get more women into the workforce and thereby alleviate the shortage of workers. But the tax increases and spending offsets used to finance the bill would also dampen inflation..

No, that was only one time, it was called "Make Work Pay", and unlike Democrats, who extended the Bush taxcuts, Republican's failed to extend that one. And then, during the Trump administration, they proposed doing the very same thing. But it also included an expanded Child Tax Credit that included adult children in college.

Well then source it. Show me, and be specific. LOL



Actually, yes, more unions will help alleviate the worker shortage. I mean have you not figured out, demonizing unions and worshiping CEO's ain't working out so well. For years corporations have treated workers as disposable, and guess what, they ain't coming back so easily. And CEO's have manipulated their compensation through stock options, buying back corporate stock to drive up the price, and then selling at the high point. Not to mention their golden parachutes that grants them millions of dollars after leaving a company turned to shit. I mean a CEO has one job really. He is supposed to be a glorified cheerleader. He is suppose to increase the value of the company's stock by stoking excitement, motivating workers. Now, just do a stock buyback, gut the company's assets, and leave with your parachute. Hell, a third grader could do it.

Look, you are barking up the wrong tree here hoss. Yes, there is nothing more reliable than coal, but it can generate electricity rather cleanly when structured correctly. It is really all about temperature. Combining super temperature coal with renewables like solar and wind, is the ticket. In fact, at this very moment my son is in Prague, just left the Netherlands. And that dynamic is precisely what he does. The key here is adequate investment, and that is precisely what BBB does. We cannot continue to depend upon decades old technology and expect to move forward.



This is where you hit the stupid level. Biden spending amounts to .8% of GDP, and most of it has not even hit the economy yet. Trump's Covid relief spending, of which most of it was saved, amounts to almost 3% of GDP. I have said it time and time again, three out of four of the "new dollars" in our economy was generated under Trump. He fueled this inflation in his attempt to "buy" allegiance. Hell, he all but dropped money from helicopters. Quantitative easing, supplemental unemployment benefits, Covid relief credits, sure some people needed them, but others, like myself and every one of my six kids, banked it and waited till things opened up.

Yes, Biden has reduced the deficit. And will reduce it going forward. Amazing how you and your ilk ignore that reality.

Did you predict inflation over 8%?

No, but I'm not surprised by it.
Did your Nobel Prize winners pushing for trillions in additional spending? DURR

I like Stiglitz, and what he warned against happening has happened.

Was he pushing for trillions more in spending?

Basically, pent up demand facing continued supply restrictions. But inflation has two components. the actual price increases and inflationary expectations.

I guess Biden's bumbling policies don't inspire confidence.

It becomes self-fulfilling, like perceived gas shortages when everyone and their brother tops off their tanks and fills their pickup truck with gasoline containers and fills them up to.

Like when the President says he'll end fossil fuels, no one wants to make new investments in fossil fuels? Interesting.

Stiglitz mentions the increased child tax credits, daycare credits, and long term care assistance. That would get more women into the workforce and thereby alleviate the shortage of workers.

That's the added productivity?

But the tax increases and spending offsets used to finance the bill would also dampen inflation..

Except for the added $3.5 trillion in spending.

No, that was only one time, it was called "Make Work Pay"

So Obama had one temporary $8/week middle class tax cut? Why does he hate the middle class?

Actually, yes, more unions will help alleviate the worker shortage.

You said it would help fix inflation. How?

demonizing unions and worshiping CEO's ain't working out so well.

Worshiping unions and demonizing CEO's ain't working out so well for the Dems.

And CEO's have manipulated their compensation through stock options,

No kidding. Another Clinton fuckup.

This is where you hit the stupid level. Biden spending amounts to .8% of GDP,

$3.5 trillion is a bit more than 0.8% of GDP. So is $1.9 trillion.

Yes, Biden has reduced the deficit.

Any specific cuts he made that you can list?
Was his $1.9 trillion stimulus package a deficit cutter?

And will reduce it going forward.

Right. By spending an additional $3.5 trillion (until Mancin stopped it).

Amazing how you and your ilk ignore that reality.

I'm not ignoring your fantasy or your bad math.

 

[HandleTheTruth]

Bernie, the millionaire socialist with 3 homes.

Fuck him.

Yeah he wants to raise his own taxes. Imagine that.

 

[basquebromance]

This week, Paul brought accountability to the Senate by forcing them to go on the record with a vote on his plan — a plan that would have balanced the budget within five years. Sadly, 67 senators went against Paul's plan and voted to continue their reckless and irresponsible government spending.

 

[basquebromance]

Incidentally, the crux of Paul's plan mandates a return to 2019 government spending levels. If this happened, Paul estimated the government would have a $388 billion surplus. Instead, Washington insisted on trillion-dollar deficits threatening future generations' financial security. Rather than plan for fiscal sanity and a better tomorrow, politicians opted for future chaos, economic uncertainty, and mayhem.

 

[basquebromance]

Congress's refusal to accept the responsibility to act as good stewards of American taxpayer dollars has caused our bleak financial position. Short-term political gains of the past, are in fact causing us harm now. Not to our children and grandchildren off in the future, but to us here today.

 

[Toddsterpatriot]

Yeah he wants to raise his own taxes. Imagine that.

What plan is Bernie pushing that will raise his own taxes? Link?

 

[basquebromance]

What plan is Bernie pushing that will raise his own taxes? Link?

Yes, Bernie Sanders is trying to raise his own taxes and voted against the cuts that he benefited from; if you’re trying to suggest that he should pay more without other, far richer millionaires doing so as well, then you’re just being silly.

 

[Toddsterpatriot]

Yes, Bernie Sanders is trying to raise his own taxes and voted against the cuts that he benefited from; if you’re trying to suggest that he should pay more without other, far richer millionaires doing so as well, then you’re just being silly.

Yes, Bernie Sanders is trying to raise his own taxes

What's the bill?

 

[basquebromance]

Yes, Bernie Sanders is trying to raise his own taxes

What's the bill?

the Bernie Sanders Raising My Own Fucking Taxes Act of 2022

 

[Toddsterpatriot]

the Bernie Sanders Raising My Own Fucking Taxes Act of 2022

He's the best.

When is it coming up for a vote?

Can you post the text?

 

[basquebromance]

He's the best.

When is it coming up for a vote?

Can you post the text?

it passed the Senate in 2017 but Trump didn't sign it because he loves money

 

[Toddsterpatriot]

it passed the Senate in 2017 but Trump didn't sign it because he loves money

A Republican Senate passed a Sanders tax hike bill?

Hitting the sauce a little early today, aren't you?

 

[Winston]

Did you predict inflation over 8%?

No, but I'm not surprised by it.
Did your Nobel Prize winners pushing for trillions in additional spending? DURR

I like Stiglitz, and what he warned against happening has happened.

Was he pushing for trillions more in spending?

Basically, pent up demand facing continued supply restrictions. But inflation has two components. the actual price increases and inflationary expectations.

I guess Biden's bumbling policies don't inspire confidence.

It becomes self-fulfilling, like perceived gas shortages when everyone and their brother tops off their tanks and fills their pickup truck with gasoline containers and fills them up to.

Like when the President says he'll end fossil fuels, no one wants to make new investments in fossil fuels? Interesting.

Stiglitz mentions the increased child tax credits, daycare credits, and long term care assistance. That would get more women into the workforce and thereby alleviate the shortage of workers.

That's the added productivity?

But the tax increases and spending offsets used to finance the bill would also dampen inflation..

Except for the added $3.5 trillion in spending.

No, that was only one time, it was called "Make Work Pay"

So Obama had one temporary $8/week middle class tax cut? Why does he hate the middle class?

Actually, yes, more unions will help alleviate the worker shortage.

You said it would help fix inflation. How?

demonizing unions and worshiping CEO's ain't working out so well.

Worshiping unions and demonizing CEO's ain't working out so well for the Dems.

And CEO's have manipulated their compensation through stock options,

No kidding. Another Clinton fuckup.

This is where you hit the stupid level. Biden spending amounts to .8% of GDP,

$3.5 trillion is a bit more than 0.8% of GDP. So is $1.9 trillion.

Yes, Biden has reduced the deficit.

Any specific cuts he made that you can list?
Was his $1.9 trillion stimulus package a deficit cutter?

And will reduce it going forward.

Right. By spending an additional $3.5 trillion (until Mancin stopped it).

Amazing how you and your ilk ignore that reality.

I'm not ignoring your fantasy or your bad math.

If you pay attention to Stiglitz he makes a very good point. First, rate hikes conducted by the Fed ARE NOT going to alleviate inflation until they trigger a recession. I mean what is it with you Republicans. I mean when you guys call for another round of tax cuts, and I will get to that whole "middle income tax cut" in a minute, you start squawking about "supply side". The only thing those rate hikes do is attempt to address inflation from the demand side. But this round of inflation is mostly driven by supply side problems. Like gasoline and diesel, while you want to blame Biden the reality is the biggest driver of higher prices is a reduction in refining capacity, and that happened under Trump's watch. Plus the fact that we are exporting more diesel and gasoline than ever before just adds insult to injury.

In regards to that supply side problem, why is it difficult to understand that if we make it easier for parents, especially women, to pay for daycare or get assistance with elderly care, it will make them more likely to enter the workforce. Honestly, eliminating the EITC and replacing it with a minimum stipend, or as it is called in Denmark, a "child cheque", makes more sense. Those exorbitant marginal tax rates for those getting the EITC would be eliminated, incentivizing them to increase their income.

But it is more than just the labor force. Increasing efficiencies would also address inflation from the supply side. Infrastructure spending, increased training, encouraging more engineers, even something as simple as high speed internet subsidies, all enhance productivity and thereby reduce inflationary pressures.

And evidently you don't understand, the cost factor for the BBB bill, and the already passed infrastructure bill, is over ten years. So yes, the percentage of GDP is accurate.

But now to middle class tax cuts.

While President Joe Biden and congressional Democrats are readying their plan to hike incomes taxes on the wealthy, a new government report shows that their $1.9 trillion relief package slashed taxes for lower- and moderate-income Americans for this year.
Taxpayers earning less than $75,000 annually will pay no tax, on average, in 2021, thanks to a multitude of provisions in the American Rescue Plan, which Biden signed into law last month. Instead, lower-income Americans can expect to receive hefty refunds -- though, of course, that will vary depending on every individual's finances.
Those with incomes between $75,000 and $100,000 a year will pay an average tax rate of just 1.8%, according to the Joint Committee on Taxation, a non-partisan group that assists Congress with tax legislation.
This is a far bigger tax cut for Americans on the lower and middle rungs of the income ladder than the reductions contained in the Republicans' Tax Cuts and Jobs Act of 2017.

Biden's stimulus delivered a bigger tax cut to lower-income Americans than the 2017 GOP reform, report shows | CNN Politics

While President Joe Biden and congressional Democrats are readying their plan to hike incomes taxes on the wealthy, a new government report shows that their $1.9 trillion relief package slashed taxes for lower- and moderate-income Americans for this year.

www.cnn.com

I wish I could have had some of that benefit, but maybe you will send me part of yours.

 

[Toddsterpatriot]

If you pay attention to Stiglitz he makes a very good point. First, rate hikes conducted by the Fed ARE NOT going to alleviate inflation until they trigger a recession. I mean what is it with you Republicans. I mean when you guys call for another round of tax cuts, and I will get to that whole "middle income tax cut" in a minute, you start squawking about "supply side". The only thing those rate hikes do is attempt to address inflation from the demand side. But this round of inflation is mostly driven by supply side problems. Like gasoline and diesel, while you want to blame Biden the reality is the biggest driver of higher prices is a reduction in refining capacity, and that happened under Trump's watch. Plus the fact that we are exporting more diesel and gasoline than ever before just adds insult to injury.

In regards to that supply side problem, why is it difficult to understand that if we make it easier for parents, especially women, to pay for daycare or get assistance with elderly care, it will make them more likely to enter the workforce. Honestly, eliminating the EITC and replacing it with a minimum stipend, or as it is called in Denmark, a "child cheque", makes more sense. Those exorbitant marginal tax rates for those getting the EITC would be eliminated, incentivizing them to increase their income.

But it is more than just the labor force. Increasing efficiencies would also address inflation from the supply side. Infrastructure spending, increased training, encouraging more engineers, even something as simple as high speed internet subsidies, all enhance productivity and thereby reduce inflationary pressures.

And evidently you don't understand, the cost factor for the BBB bill, and the already passed infrastructure bill, is over ten years. So yes, the percentage of GDP is accurate.

But now to middle class tax cuts.

While President Joe Biden and congressional Democrats are readying their plan to hike incomes taxes on the wealthy, a new government report shows that their $1.9 trillion relief package slashed taxes for lower- and moderate-income Americans for this year.
Taxpayers earning less than $75,000 annually will pay no tax, on average, in 2021, thanks to a multitude of provisions in the American Rescue Plan, which Biden signed into law last month. Instead, lower-income Americans can expect to receive hefty refunds -- though, of course, that will vary depending on every individual's finances.
Those with incomes between $75,000 and $100,000 a year will pay an average tax rate of just 1.8%, according to the Joint Committee on Taxation, a non-partisan group that assists Congress with tax legislation.
This is a far bigger tax cut for Americans on the lower and middle rungs of the income ladder than the reductions contained in the Republicans' Tax Cuts and Jobs Act of 2017.

Biden's stimulus delivered a bigger tax cut to lower-income Americans than the 2017 GOP reform, report shows | CNN Politics

While President Joe Biden and congressional Democrats are readying their plan to hike incomes taxes on the wealthy, a new government report shows that their $1.9 trillion relief package slashed taxes for lower- and moderate-income Americans for this year.

www.cnn.com

I wish I could have had some of that benefit, but maybe you will send me part of yours.

First, rate hikes conducted by the Fed ARE NOT going to alleviate inflation until they trigger a recession.

That's not true. Where did you misread Stiglitz saying that?

The only thing those rate hikes do is attempt to address inflation from the demand side.

They don't address the supply side....money supply?

But this round of inflation is mostly driven by supply side problems.

No kidding, look at the money supply.

Like gasoline and diesel, while you want to blame Biden

Why does he deserve any blame? He campaigned on attacking fossil fuels.
He cancels pipelines on day one. He nominates a Marxist comptroller of the currency who wants to bankrupt fossil fuel producers. He threatens oil companies with the War Powers Act and just this week his moron of an Energy Secretary says oil companies should spend billions, right now, to produce more oil and gasoline, but still expects them to shrink over the next 5-10 years.

Sounds like he's completely blameless.

the reality is the biggest driver of higher prices is a reduction in refining capacity, and that happened under Trump's watch.

Biden wants to increase refining capacity? Don't tell the greens.

Honestly, eliminating the EITC and replacing it with a minimum stipend, or as it is called in Denmark, a "child cheque", makes more sense.

Of course it does. Hand out money and eliminate any work requirements. That has done wonders for the inner-cities.

But it is more than just the labor force. Increasing efficiencies would also address inflation from the supply side. Infrastructure spending, increased training, encouraging more engineers, even something as simple as high speed internet subsidies, all enhance productivity and thereby reduce inflationary pressures.


Absolutely!! Just like throwing trillions of government dollars at college tuition made colleges more efficient and cheaper.

Taxpayers earning less than $75,000 annually will pay no tax, on average, in 2021, thanks to a multitude of provisions in the American Rescue Plan,

Multitude of provisions? That sounds awesome!! Our tax code isn't complicated enough already.
Why doesn't he just cut the rates? Like Trump did. Maybe he could cut the rates even more than Trump?

However, an important point to keep in mind: Most of the tax breaks in the Democrats' relief effort are one-time measures or last only for a year or two.
"The key thing to remember is that it's only temporary," said Howard Gleckman, senior fellow in the non-partisan Urban-Brookings Tax Policy Center. "This is a temporary phenomenon. In a sense, it's a little bit misleading because it's only for a year."

A year or two? Temporary? Misleading? Weird.

 

[Jim H - VA USA]

Rand Paul's proposal balances the budget in five years on the backs of the middle class with cuts to medicare, medicaid, and education

these two senators were just agreeing on drug pricing reform the other day, now they're not bro's anymore again

We said, "Socialism destroys every economy where it has been implemented."

They said, "That's because it wasn't Democratic Socialism."

Now Biden has started implementing it here, and everything is getting destroyed, and they tell us it's Trump's, COVID's, Putin's, or Exxon's fault.

 

[Clipper]

Bernie, the millionaire socialist with 3 homes.

Fuck him.

And Rand Paul is a retard out of touch with reality.

 

[Winston]

First, rate hikes conducted by the Fed ARE NOT going to alleviate inflation until they trigger a recession.

That's not true. Where did you misread Stiglitz saying that?

The only thing those rate hikes do is attempt to address inflation from the demand side.

They don't address the supply side....money supply?

But this round of inflation is mostly driven by supply side problems.

No kidding, look at the money supply.

Like gasoline and diesel, while you want to blame Biden

Why does he deserve any blame? He campaigned on attacking fossil fuels.
He cancels pipelines on day one. He nominates a Marxist comptroller of the currency who wants to bankrupt fossil fuel producers. He threatens oil companies with the War Powers Act and just this week his moron of an Energy Secretary says oil companies should spend billions, right now, to produce more oil and gasoline, but still expects them to shrink over the next 5-10 years.

Sounds like he's completely blameless.

the reality is the biggest driver of higher prices is a reduction in refining capacity, and that happened under Trump's watch.

Biden wants to increase refining capacity? Don't tell the greens.

Honestly, eliminating the EITC and replacing it with a minimum stipend, or as it is called in Denmark, a "child cheque", makes more sense.

Of course it does. Hand out money and eliminate any work requirements. That has done wonders for the inner-cities.

But it is more than just the labor force. Increasing efficiencies would also address inflation from the supply side. Infrastructure spending, increased training, encouraging more engineers, even something as simple as high speed internet subsidies, all enhance productivity and thereby reduce inflationary pressures.


Absolutely!! Just like throwing trillions of government dollars at college tuition made colleges more efficient and cheaper.

Taxpayers earning less than $75,000 annually will pay no tax, on average, in 2021, thanks to a multitude of provisions in the American Rescue Plan,

Multitude of provisions? That sounds awesome!! Our tax code isn't complicated enough already.
Why doesn't he just cut the rates? Like Trump did. Maybe he could cut the rates even more than Trump?

However, an important point to keep in mind: Most of the tax breaks in the Democrats' relief effort are one-time measures or last only for a year or two.
"The key thing to remember is that it's only temporary," said Howard Gleckman, senior fellow in the non-partisan Urban-Brookings Tax Policy Center. "This is a temporary phenomenon. In a sense, it's a little bit misleading because it's only for a year."

A year or two? Temporary? Misleading? Weird.

Money supply?

Slowing Money Supply Growth in 2022 Points to Recession | Mises Institute

During April 2022, year-over-year money supply growth was at 7.23 percent. That's down from March's rate of 7.41 percent and April 2021's rate of 36.8 percent.

mises.org

M2 growth rate peaked in February 2021, one month after Biden took office and it has been shrinking ever since, outside a little bit of a bump in March. I mean voicing concern over Biden's growing the money supply just exhibits an extraordinary amount of ignorance. Again, three out of the four new dollars that have been put in circulation over the last two years came from Trump, not Biden. And the thing is, Biden is actually getting something for his dollars, Trump just handed the shit out.

Think about that for a moment. If Biden spends a billion dollars on building a new road, repairing bridges, or even constructing some new runways at a regional airport, is that really inflationary? I mean we are getting something for those dollars. But when Trump stroked check after check, boosted unemployment compensation even past the point of what someone working would make, we got nothing. Hell, we got less than nothing. Trump did that, not Biden, TRUMP.

And we both know, the government is borrowing that money. So let's look and see how much that costs.

TIPS/CPI Data — TreasuryDirect

www.treasurydirect.gov

Last 30 year bond auction was back in February, .125%, note, that is .00125. Who the fawk buys these things? Hell, I would buy some crisp new notes and bury them in the backyard so 30 years later I could sell them "mint" to currency collectors. But hey, let's go back to February 2017, .825%.

Flippin Trump borrowed money at SIX TIMES THE COST of Biden, handed it out for NOTHING, and you want to bitch about Biden. Partisan much? Just like bitching about the "temporary middle class tax deductions". Was Trump's permanent? Refining capacity, yep, Biden is considering utilizing the War Powers Act to ramp up refining capacity, did you not understand that is what he meant when he threatened to invoke it? Did you bitch about Trump invoking the WPA to increase the production of ventilators? Nope.

Honestly, it is time we get off this rat wheel. Republicans take power, screw things up, like both Bushes, like Trump. I mean wars, recessions, they breed the damn things. You can't argue, Trump totally muffed handling of Covid, hell his hero in North Korea has probably done better. And he absolutely poured money into the economy, FOR NOTHING. So he pissed in the well, and don't even get me started on how much he has divided this nation. Now his compadres are sitting on their hands doing nothing in the hopes of retaining power again, for what, to screw us up even worse? Deregulation, more tax cuts for the wealthy, hell, they will probably float another corporate tax cut, which is like pouring gasoline on a fire. Again, they don't give two shits about you, or anyone else but themselves for that matter. Honestly, they have abandoned the strategy of reducing the government to a baby that they drown in the bathtub, now they are hellbent on getting the government broke. Fawking every economist that knows jackshit about public finance will tell you taxes should be about 17.5% of GDP, that is the sweet spot. Anything more and it siphons off efficiencies. Anything less and it breeds ineffective resource allocation and rent seeking. Well we ain't even at ten percent.

And there in is the rub. You live in, what was once the finest nation in all the world. Now it is turning to shit and for one simple ass reason. You dumbshit boomers are too damn cheap to pay for that right. As far as I am concerned, you can't die off soon enough.