Atlanta Journal-Constitution reports: Biden wastes no time attacking GOP FairTax plan

[Moonglow]

Your TDS is showing again.

Hey, if you like McCarthy's nose up Trump's ass it's your liberty to approve.

 

[Anathema]

I don’t actually believe that even the Republicans who claim to support this thing really want it to pass. It won’t even pass in the House, and would be DOA anywoelsevit got sent.

My sincere hope is that the point in doing this is as an attempt to kickstart discussion on the massive tax and budget/spending reforms which are desperately needed in this country.

 

[LordBrownTrout]

And then all of a sudden libs were against taxes. Lol. How dare you take food out of the mouths of homeless kids.

 

[pknopp]

And then all of a sudden libs were against taxes. Lol.

I noted what I was against. Promoting something you know is never going to go anywhere, wasting the taxpayers money.

Both sides do this when they know the proposal has no chance of passing.

"Vote for us, and we will support this, unless of course you vote for us where we will drop it".

 

[Lisa558]

I’ve read that an 18% sales tax on everything would fund the government. I’d support it, with some adjustments - certain basic groceries would be exempt.

 

[Tom Paine 1949]

This proposal is dead on arrival, is utterly reactionary, and clearly shows Republican rejection of real and do-able reforms that would help working people but hurt the wealthy oligarchs who pull the strings in D.C. This proposal is just a self-evidently nonsensical way to posture as American ideological radicals who want to “abolish the IRS.”

The cynicism of this proposal is amazing. But it is part of the norm today. Let’s take, for example, FL Governor DeSantis.

Just this past year, at the express request of lawyers and contributing lobbyists representing Walmart and Sam’s Club founder Sam Walton’s family, DeSantis signed into law (almost unnoticed) legislation allowing non-transparent tax-avoidance family / business specialty “trust companies” to become … perpetual.

This is a new almost unprecedented form of enrichment for oligarchic money, which violates hundreds of years of traditional U.S. law and custom, and is practically speaking available only to family fortunes of 200 million or more. Funds already locked up in similar opaque tax avoidance schemes enjoyed by our ultra-rich probably (nobody knows exactly) account for tens of trillions in total. This money doesn’t even need anymore to be hidden overseas.

Of course even some Dems go along with such votes (not many in FL though) because Corporate and Trust laws are very abstruse and changes usually have lobbying campaigns aimed only at legislatures. Only rarely is it even necessary to wage propaganda campaigns to fool ordinary people. Most people are easily bamboozled that such “Trusts” are just simple extensions of middle-class trusts for family members. They are not.

The reality of tax avoidance today for the super-wealthy is far worse than during the days of FDR or even Ronald Reagan, far worse than during the (very successful) Republican campaign against “Death Taxes.”

How bad is the overall situation? Let us remember the Hedge Fund manager’s “carried interest loophole” discussion. Back in 2016 the Democrats, like Trump during his campaign (before he was convinced to drop this pledge by his investment bank Treasury Chief Steve Mnuchin), promised to finally rid the country of the corrupting and pretty universally despised “carried interest loophole.” Due to a few defectors, however, the Democrats failed even to accomplish this much. They said this would be re-introduced later as a simple stand-alone bill, but so far (if I am not mistaken) … nothing.

The need for “progressive” reforms like those started under Republican Teddy Roosevelt and carried further during the Depression by Democrat FDR remains, and not just in our tax system. Our deadlocked politics in Congress, our national obsessions with cultural issues, the fear of “Trumpism” and its real influence on our people’s consciousness, these combine to prevent most ordinary people even thinking intelligently about serious economic or tax reform.

How the Getty and Walton Families Use Trusts to Dodge Taxes

After taking money from Walmart heirs, Ron DeSantis and the Florida Legislature helped billionaires hide their family fortunes

 

[Zincwarrior]

I don’t actually believe that even the Republicans who claim to support this thing really want it to pass. It won’t even pass in the House, and would be DOA anywoelsevit got sent.

My sincere hope is that the point in doing this is as an attempt to kickstart discussion on the massive tax and budget/spending reforms which are desperately needed in this country.

The difficulty of course, is that it will be well publicized and is an excellent campaign ad. Combined with the negative PR over a pending debt fight and this might get interesting for re-election purposes.

 

[Anathema]

The difficulty of course, is that it will be well publicized and is an excellent campaign ad. Combined with the negative PR over a pending debt fight and this might get interesting for re-election purposes

That’s why I’m hoping they use this as a “Trojan Horse” to force the House to start real, serious discussions on the needed changes to our tax, budgeting, and spending systems. If this goes to committee, then the Republicans can hopefully force a “So, what’s your alternative…” conversation with the opposition.

 

[Lisa558]

The difficulty of course, is that it will be well publicized and is an excellent campaign ad. Combined with the negative PR over a pending debt fight and this might get interesting for re-election purposes.

Here’s what I don’t get: The Democrats voted to spend $1.7 trillion in their 11th hour omnibus bill - KNOWING that it would breach the debt limit?

Seems there should be a law against putting expensive stuff into law knowing that we don’t even have the borrowing power to pay for it.

Let’s first start with killing that student loan payoffs. No way should working class taxpayers have to pay off the loans of college-educated professionals with twice their earning power - and AFTER they agreed to pay it off in the first place.

 

[JGalt]

Republicans screw the little guy and do nothing to impede the rich guy

This whole conversation forget to mention that the GOP also wants to abolish the IRS and the federal income tax.

So which is cheaper? No income tax and a 30% tax on everything, or paying 30% income tax on what you earn? The left is always complaining the rich folk don't "pay their fare share", so wouldn't this make them do exactly that? I can see why rich Democrats like Elizabeth Warren are against this.

 

[Votto]

Now watch the D Party support it.

There has never been a tax the democrats did not support

Next we will hear how wonderful it is that both parties can reach across the isle and work with each other under Biden.

 

[pknopp]

Here’s what I don’t get: The Democrats voted to spend $1.7 trillion in their 11th hour omnibus bill - KNOWING that it would breach the debt limit?

Seems there should be a law against putting expensive stuff into law knowing that we don’t even have the borrowing power to pay for it.

Let’s first start with killing that student loan payoffs. No way should working class taxpayers have to pay off the loans of college-educated professionals with twice their earning power - and AFTER they agreed to pay it off in the first place.

The bill passed with bipartisan support. McConnell wanted his bridge.

 

[Votto]

The bill passed with bipartisan support. McConnell wanted his bridge.

McConnell got his bridge

Yay.

I hope he chokes on it.

 

[pknopp]

McConnell got his bridge

Yay.

I hope he chokes on it.

When he is 110 and finally dies and someone finally replaces him.

 

[Votto]

When he is 110 and finally dies and someone finally replaces him.

Nope, those in Congress usually live to about 120 years old, and then retire at 130 years old.

Best health care money can buy.

Thank God they opted out of Obamacare

 

[Aldo Raine]

Now watch the D Party support it.

Wanna bet?

 

[Votto]

Wanna bet?

You are right, they probably will poo, poo the taxes and offer a bill with even higher taxes.

After all, can democrats really work with a party they call systemically racist and the Taliban?

 

[Lisa558]

The bill passed with bipartisan support. McConnell wanted his bridge.

I know, shameful - but the vast majority of Republicans were responsible and voted against it while all the Democrats voted for it.

 

[Mr Natural]

Maybe it’s time to go back to the tax rates that were in place when America was great.

 

[JGalt]

That’s why I’m hoping they use this as a “Trojan Horse” to force the House to start real, serious discussions on the needed changes to our tax, budgeting, and spending systems. If this goes to committee, then the Republicans can hopefully force a “So, what’s your alternative…” conversation with the opposition.

That's exactly why the GOP submitted that bill. It can be used at some later date as a poison pill to effectively kill any Democrat-sponsored spending bill, by simply attaching it to their bill as a rider.

No way are the Democrats or the President going to pass a bill that also abolishes the IRS and the federal income tax.