Biden regime still claiming their "Inflation Reduction Act" is going to lower inflation - LOL

[Winston]

Winnie - you're dumb as a stump.

All corporate taxes are paid by the consumer. Your gouging scheme to grow government increases the cost of goods to the consumer - we with triple digit IQ's call that "inflation."

Loss of equilibrium, that is increased fiat currency chasing a static or declining pool of goods and services is the primary cause of inflation. But massive tax increases will also cause prices to consumers to rise.

If I didn't know better, I'd say the Nazi democrats are waging war to destroy the American middle class. Come to think of it, I don't know better and that's exactly what the fascist left is doing - from dozens of angles.

Such ignorance. "All corporate taxes are paid by the consumers". Did Trump not cut corporate taxes? What the hell happened, why did prices not drop? Fool.

Corporate Tax Cuts Skew to Shareholders and CEOs, Not Workers as Administration Claims | Center on Budget and Policy Priorities

The eventual spending cuts or tax increases to pay for corporate rate cuts could leave most workers worse off.

www.cbpp.org

I swear, if you have a triple digit IQ I am the second coming of Christ. Fiat currency? Just what is that? Why don't you define it for me. Because with Quantitative easing backing off every month and the deficit being reduced at record levels I am wondering, just what the hell you believe "fiat currency" really is. Define it, and provide examples, or crawl back into your hole and STFU.

 

[marvin martian]

Simple, copy and paste, from the actual legislation, a single example of this act making the cost of doing business more expensive. A minimum corporate tax rate don't count, taxes are not a "cost" of doing business. They are a "cost" of generating profits. The one percent surcharge on stock buybacks is not a "cost" of doing business, it is a "cost" of refusing to invest stockholder equity in your business and instead going to stockholders and proclaiming, "Hey, we have no profitable capital expenditures, you take the money".

From manufacturing and Union labor, to energy and renewable mandates, this legislation makes it CHEAPER to do business. I mean for the love of Pete, read the damn legislation and run away from Pajama's media.

Those costs all get passed on to consumers. It just raises prices and increases inflation. You think companies are just going to eat the increased costs? LOL, you can't actually be this dumb.

 

[Uncensored2008]

Such ignorance. "All corporate taxes are paid by the consumers". Did Trump not cut corporate taxes? What the hell happened, why did prices not drop? Fool.

Corporate Tax Cuts Skew to Shareholders and CEOs, Not Workers as Administration Claims | Center on Budget and Policy Priorities

The eventual spending cuts or tax increases to pay for corporate rate cuts could leave most workers worse off.

www.cbpp.org

I swear, if you have a triple digit IQ I am the second coming of Christ. Fiat currency? Just what is that? Why don't you define it for me. Because with Quantitative easing backing off every month and the deficit being reduced at record levels I am wondering, just what the hell you believe "fiat currency" really is. Define it, and provide examples, or crawl back into your hole and STFU.

First off, no - Trump didn't cut corporate taxes. CONGRESS passed the tax act in 2018. Further, that act dramatically cut taxes to the middle class by doubling the standard deduction - which was the single most significant impact on revenue in the act.

But hey, you found a Marxist publication that opposes any cuts in taxes, published a year BEFORE the tax act of 2018 - so congratulations on your patent dishonesty. It pairs well with your abject ignorance and utter dishonesty.

 

[Uncensored2008]

Those costs all get passed on to consumers. It just raises prices and increases inflation. You think companies are just going to eat the increased costs? LOL, you can't actually be this dumb.

Winnie doesn't think.

Winnie lies. Always.

 

[struth]

No, you aren't too bright. Tell me, what "investor" would throw away a

dime because they had to pay a nickel in taxes? That is what you morons advocate, oh, a profitable, got that PROFITABLE, business, won't operate because they have to pay taxes. It as if the business owner says, "Hell, I don't need that nickel in earnings after taxes", they don't need an extra nickel?

It is as if someone investing for retirement looked at capital gains taxes. Well hell, I got a hundred grand in my retirement account. It might grow to two hundred grand and I will have to pay fifteen grand in taxes. But if that shit went to thirty grand, well I will cut off my nose to spite my face, throw that seventy grand away, and put my money under my mattress.

we aren’t talking about investors or personal income we are talking about taxes on a business

a business passes the additional cost of the tax into their customers

 

[Nostra]

By the way, inflation just rose again.

Remember this next month when you vote!

What is odd is when you go to factcheck.org and search .
”inflation reduction act” the last thing they rated was August 4th.

And not a single fact check for the lying mouthpiece for the Biden Regime.

Hey board Dimwingers. Look at this link and tell us why you think they are a credible source for anything.

Search - FactCheck.org

www.factcheck.org

 

[Nostra]

I got your huckleberry, you stupid shits.

• Cracking down on the largest profitable corporations that currently get away with paying little to no federal income tax, instituting a minimum corporate tax of 15%.

Boom, there, one of the most proven methods of addressing inflation is to increase taxes and reduce the deficit. While the deficit has already been reduced, at an historical level I might add, taxes corporations that previously paid zero to little income taxes, will certainly help, ask Ronald Reagan.

• Imposing a 1% surcharge on corporate stock buybacks, to encourage businesses to invest instead of enriching CEOs or funneling profits tax-free to shareholders.

Damn, hello howdy. Look, if it were me I would ban stock buybacks from the getgo, like it was before Reagan. But here again we have another means of reducing inflation through taxation. Stock buybacks are little more than rent seeking, the antithesis to a "free market".

I could provide so much more, but will end with this,

President Biden has followed through on his promise to lower the cost of prescription drugs. The Inflation Reduction Act will protect Medicare recipients from catastrophic drug costs by phasing in a cap for out-of-pocket costs and establishing a$35 cap for a month’s supply of insulin. And, as an historic win, Medicare will be able to negotiate prices for high-cost drugs for the first time ever. For union members or family members who benefit from the Affordable Care Act, it extends health insurance premium subsidies.

That is huge. Take the Medicare Prescription Drug plan as it was initially constructed and signed into law by a Republican, George Bush. That cap, the insulin deal, it is not paid for with taxpayer dollars. It is paid for by the drug manufacturers, the price they pay to have access to government provided benefits. And that takes money out of the hands of the manufacturers, who would undoubtedly spend it on rent-seeking. And puts it directly in the hands of American consumers, who will drive the market. Rent seeking is inflationary, far more so than consumption.

FACT SHEET: The Inflation Reduction Act Supports Workers and Families | The White House

By signing the Inflation Reduction Act, President Biden is delivering on his promise to build an economy that works for working families. President Biden is the most pro-worker, pro-union President in history, and the Inflation Reduction Act builds on that legacy. President Biden and...

www.whitehouse.gov

Oh, so Veggie Joe’s handlers said so on their website?

Are you really this stupid every day, or just on Mondays?

 

[Nostra]

Again, I don't see how it is that hard. Either post a direct quotation from the legislation and how it will increase inflation, or STFU. I mean who the hell am I kidding; You haven't even bothered to read the legislation You are too stupid to have the right to vote.

Tell us how, and when, it will REDUCE INFLATION.

 

[task0778]

They changed the name to the Climate, Tax, and Healthcare bill, didn't they? Or is it the Climate, Healthcare, and Tax bill, I think it depends on who you ask. Got caught in a lie, so .... they changed the name. Maybe more than once to fit the circumstances.

 

[22lcidw]

Such ignorance. "All corporate taxes are paid by the consumers". Did Trump not cut corporate taxes? What the hell happened, why did prices not drop? Fool.

Corporate Tax Cuts Skew to Shareholders and CEOs, Not Workers as Administration Claims | Center on Budget and Policy Priorities

The eventual spending cuts or tax increases to pay for corporate rate cuts could leave most workers worse off.

www.cbpp.org

I swear, if you have a triple digit IQ I am the second coming of Christ. Fiat currency? Just what is that? Why don't you define it for me. Because with Quantitative easing backing off every month and the deficit being reduced at record levels I am wondering, just what the hell you believe "fiat currency" really is. Define it, and provide examples, or crawl back into your hole and STFU.

Fiat Currency is something that is abused. The temptations of letting it get out of control happens in every civilization. It has incredible growth potential and incredible destructive capabilities. Keeping it under control is the prudent thing but we do not.

 

[Uncensored2008]

we aren’t talking about investors or personal income we are talking about taxes on a business

a business passes the additional cost of the tax into their customers

Don't bother with Winnie - it isn't programmed for reason.

It's a bot that vomits out Reich hate - nothing else.

 

[Uncensored2008]

They changed the name to the Climate, Tax, and Healthcare bill, didn't they? Or is it the Climate, Healthcare, and Tax bill, I think it depends on who you ask. Got caught in a lie, so .... they changed the name. Maybe more than once to fit the circumstances.

Just call it what it is, the "Green Raw Deal."

 

[Winston]

First off, no - Trump didn't cut corporate taxes. CONGRESS passed the tax act in 2018. Further, that act dramatically cut taxes to the middle class by doubling the standard deduction - which was the single most significant impact on revenue in the act.

But hey, you found a Marxist publication that opposes any cuts in taxes, published a year BEFORE the tax act of 2018 - so congratulations on your patent dishonesty. It pairs well with your abject ignorance and utter dishonesty.

Doubled the standard deduction and eliminated personal exemptions, which mitigated the savings for filers with multiple dependents. And of course, those measures on the personal income tax sunset in 2025. The corporate tax cut, nope, permanent. Estate tax cut, permanent.

But you can't claim that the corporate tax cut increased capital investment or personal income. Personal income,

You can find capital investment here,

Gross Private Domestic Investment

Graph and download economic data for Gross Private Domestic Investment (GPDI) from Q1 1947 to Q1 2024 about investment, gross, domestic, private, GDP, and USA.

fred.stlouisfed.org

Stock buybacks,

One figure there is just mind-numbing. From 2008 to 2017 buybacks equaled 53% of all corporate profits and 30% went to dividends. That is over eight dollars out of every ten in profit was distributed back to the shareholders. WTF? Now you armchair economists might think, that is great. My 401K is larger, because yes, equity values increased accordingly. But it was like a sugar high, or worse, one of those five hour energy highs. Short term burst, long term misery.

See, what you and others fail to realize is that companies use their profits, or their cash reserves, to buyback stock or pay dividends when they have NO OTHER ACCEPTABLE CAPITAL INVESTMENT OPPORTUNITIES. Has Tesla ever bought back their stock? I mean it is a fair question. And yeah, rumors are swirling now that they are about to start. Which signifies they are no longer a "growth" stock and are now a mature large cap stock. They should be treated accordingly.

So the corporate tax cut was just economically STUPID. Companies had already signaled that that had few acceptable investment opportunities. Cutting their taxes was not going to increase those opportunities. If anything, it lowered the cost of taking money off the table. And that is what they did, to the tune of trillions of dollars. It was a trainwreck that even a mediocre economist could have seen coming.

 

[Winston]

we aren’t talking about investors or personal income we are talking about taxes on a business

a business passes the additional cost of the tax into their customers

No, they could pass the cost on to shareholders by reducing dividends and eliminating stock buybacks. They could also increase investment.

Corporate Rate Increase Would Make Taxes Fairer, Help Fund Equitable Recovery | Center on Budget and Policy Priorities

Raising corporate taxes by a modest amount will not undermine the economic recovery and, in fact, using those revenues to finance needed investments will help make the economy stronger.

www.cbpp.org

Educate yourself.

 

[Uncensored2008]

Doubled the standard deduction and eliminated personal exemptions, which mitigated the savings for filers with multiple dependents.

Well, now that's a lie.

Not only did the standard deduction double, so did the child tax credit. Hence those with large families pay less in taxes than under the Obama code.

And of course, those measures on the personal income tax sunset in 2025. The corporate tax cut, nope, permanent. Estate tax cut, permanent.

But you can't claim that the corporate tax cut increased capital investment or personal income. Personal income,

You can find capital investment here,

Gross Private Domestic Investment

Graph and download economic data for Gross Private Domestic Investment (GPDI) from Q1 1947 to Q1 2024 about investment, gross, domestic, private, GDP, and USA.

fred.stlouisfed.org

Stock buybacks,

One figure there is just mind-numbing. From 2008 to 2017 buybacks equaled 53% of all corporate profits and 30% went to dividends. That is over eight dollars out of every ten in profit was distributed back to the shareholders. WTF? Now you armchair economists might think, that is great. My 401K is larger, because yes, equity values increased accordingly. But it was like a sugar high, or worse, one of those five hour energy highs. Short term burst, long term misery.

See, what you and others fail to realize is that companies use their profits, or their cash reserves, to buyback stock or pay dividends when they have NO OTHER ACCEPTABLE CAPITAL INVESTMENT OPPORTUNITIES. Has Tesla ever bought back their stock? I mean it is a fair question. And yeah, rumors are swirling now that they are about to start. Which signifies they are no longer a "growth" stock and are now a mature large cap stock. They should be treated accordingly.

So the corporate tax cut was just economically STUPID. Companies had already signaled that that had few acceptable investment opportunities. Cutting their taxes was not going to increase those opportunities. If anything, it lowered the cost of taking money off the table. And that is what they did, to the tune of trillions of dollars. It was a trainwreck that even a mediocre economist could have seen coming.

So, you have your talking points. Stock buybacks are bad - but are they?

In fact, they account for some $4 trillion in cash being repatriated (and taxed) in the USA - which had been moved offshore.

Returning business to America distresses you globalists, but is in fact good for the America middle class.

 

[Winston]

Tell us how, and when, it will REDUCE INFLATION.

Treasury Secretary Janet L. Yellen said that the recovery of manufacturing jobs was a result of the unique nature of the recession, which was induced by the pandemic, and the robust federal response, including legislation like the $1.9 trillion American Rescue Plan of 2021.

Factory Jobs Are Booming Like It’s the 1970s

U.S. manufacturing is experiencing a rebound, with companies adding workers amid high consumer demand for products.

www.nytimes.com

. The American Rescue Plan accelerated the economic recovery throughout 2021 and made it more resilient to challenges: one analysis found that the law resulted in 4 million more jobs and nearly doubled GDP growth – and that without it, the United States would have come close to a double-digit recession in spring 2021. Its results have also been historically equitable, with major progress against child poverty, food insecurity, and unemployment for low-income communities and communities of color.

https://home.treasury.gov/news/press-releases/jy0645#:~:text=Enacted%20during%20a%20severe%20public%20health%20and%20economic,and%20helping%20small%20businesses%20keep%20their%20doors%20open.

 

[Winston]

Well, now that's a lie.

Not only did the standard deduction double, so did the child tax credit. Hence those with large families pay less in taxes than under the Obama code.






So, you have your talking points. Stock buybacks are bad - but are they?

In fact, they account for some $4 trillion in cash being repatriated (and taxed) in the USA - which had been moved offshore.

Returning business to America distresses you globalists, but is in fact good for the America middle class.

Wow, four TRILLION new dollars introduced into the US, and you guys blame Biden for inflation, LMAO. But to your child tax credit HORSESHIT,

The tax law that President Trump signed in 2017 left behind millions of low-income families with children. Republicans rigged it to pad corporate profits and confer massive windfalls on the wealthiest Americans and their heirs while leaving out 26 million children and their families who were mostly excluded from the law’s increases in the Child Tax Credit.

At the same time, they made families with incomes of as much as $400,000 eligible for a child tax credit of $2,000 per child — including members of Congress themselves. But a single parent with two children working full time at the federal minimum wage will receive an increase of only $75 — or less than $1.50 per week.

Opinion | Only wealthy parents benefit from Trump's expanded child tax credit

Our plan would help the least-wealthy parents improve their children's lives rather than just give rich people more tax breaks.

www.nbcnews.com

Damn mind blowing. So, the struggling single Mom gets a buck fifty a week. But the two doctor family gets forty? How the hell does that compute? And you flippin morons bitch about the free lunch program in public schools. Yet here we have a family making almost half a million dollars a year getting enough money from Trump's "increased child tax credit" to pay for their school lunches and ice cream too. You guys are pathetic, and fools.

 

[Uncensored2008]

Wow, four TRILLION new dollars introduced into the US, and you guys blame Biden for inflation, LMAO. But to your child tax credit HORSESHIT,

The tax law that President Trump signed in 2017 left behind millions of low-income families with children. Republicans rigged it to pad corporate profits and confer massive windfalls on the wealthiest Americans and their heirs while leaving out 26 million children and their families who were mostly excluded from the law’s increases in the Child Tax Credit.

At the same time, they made families with incomes of as much as $400,000 eligible for a child tax credit of $2,000 per child — including members of Congress themselves. But a single parent with two children working full time at the federal minimum wage will receive an increase of only $75 — or less than $1.50 per week.

Opinion | Only wealthy parents benefit from Trump's expanded child tax credit

Our plan would help the least-wealthy parents improve their children's lives rather than just give rich people more tax breaks.

www.nbcnews.com

Damn mind blowing. So, the struggling single Mom gets a buck fifty a week. But the two doctor family gets forty? How the hell does that compute? And you flippin morons bitch about the free lunch program in public schools. Yet here we have a family making almost half a million dollars a year getting enough money from Trump's "increased child tax credit" to pay for their school lunches and ice cream too. You guys are pathetic, and fools.

Repatriated corporate cash.

But you knew that.

 

[Winston]

Repatriated corporate cash.

But you knew that.

Does it make a damn difference. You have just openly admitted that Trump's tax cut plan "repatriated" FOUR FRIGGIN TRILLION DOLLARS into the US. Tell me, how much has Biden's spending bill actually spent? Does it even come close to four trillion dollars? Are those four trillion dollars special dollars that don't contribute to inflation? Do you even know the definition of inflation?

 

[Uncensored2008]

Does it make a damn difference. You have just openly admitted that Trump's tax cut plan "repatriated" FOUR FRIGGIN TRILLION DOLLARS into the US. Tell me, how much has Biden's spending bill actually spent? Does it even come close to four trillion dollars? Are those four trillion dollars special dollars that don't contribute to inflation? Do you even know the definition of inflation?

Yawn,


Your desperation to try and steer the thread away from Joe Biden's Green Raw Deal is as boring as it is desperate.

If you want to attack the 2018 tax cut, start your own thread.