Sinema dashes Biden's hope for major tax overhaul

[Dont Taz Me Bro]

Good for her. The federal government doesn't need to collect any more taxes than they currently are. They have been taking in record revenue. What is needed is for them to start acting responsibly and live within their means just like every American household has to do and the people need to hold them to it.

MSN

 

[Auld Phart]

Lakhota doesn't seem to think we're far enough in debt.

 

[task0778]

Doesn't look good for Biden and the democrats right now, nor for the foreseeable future. Biden isn't going to get much of his agenda done and IMHO that is a good thing. It's one thing to raise taxes AND cut spending to reduce the deficits, that's a good way to reduce inflation. It's another to raise taxes AND spend even more money, all that does is create more inflation. Why? Because the amount of money in circulation goes up but the amount of goods and services doesn't go up as much.

 

[Dont Taz Me Bro]

It's one thing to raise taxes AND cut spending to reduce the deficits, that's a good way to reduce inflation. It's another to raise taxes AND spend even more money, all that does is create more inflation. Why? Because the amount of money in circulation goes up but the amount of goods and services doesn't go up as much.

Agreed. I would be supportive of a tax increase on everyone across the board if there was a 100% guarantee it went straight to paying down and lowering the national debt, but we know that will never happen.

 

[MarathonMike]

Good for her. The federal government doesn't need to collect any more taxes than they currently are. They have been taking in record revenue. What is needed is for them to start acting responsibly and live within their means just like every American household has to do and the people need to hold them to it.

MSN

Giving the Federal government more tax revenue is like increasing the credit limit on a rich spoiled girl's credit card.

 

[1srelluc]

Agreed. I would be supportive of a tax increase on everyone across the board if there was a 100% guarantee it went straight to paying down and lowering the national debt, but we know that will never happen.

Negative.....I'd be in favor of a "flat tax" based on non-food consumption (other than prepared food) but that's it. Way too many cut-outs for rich and "poor" alike for a general tax increase the way the tax code is written now.

The last I read a few years back 40-odd percent of Americans paid no federal taxes. They are the "nonpayers", i.e. they had zero or negative federal income tax liability.....In other words, no skin in the game.

 

[Harpy Eagle]

What is needed is for them to start acting responsibly and live within their means just like every American household has to do and the people need to hold them to it.

But instead they will keep doing what they are doing because "we the people" keep putting the same over spending people back into office. Why would they ever stop?

 

[Jets]

Agreed. I would be supportive of a tax increase on everyone across the board if there was a 100% guarantee it went straight to paying down and lowering the national debt, but we know that will never happen.

That’s the problem in a nutshell. Why would the duopoly pay down its Gold Card….

 

[PinktheFloyd88]

He still has 2 more years in his Presidency, it will be fine. They'll get it done.

 

[B. Kidd]

Joey's tax plan was primarily aimed at oil and gas company's being put under furthur hardship and duress in order to supplant the far left's Green New Deal!!

 

[1srelluc]

Joey's tax plan was primarily aimed at oil and gas company's being put under furthur hardship and duress in order to supplant the far left's Green New Deal!!

And, like Mien Kampf, it was laid out there for everyone to see.....81 million votes my ass.

 

[Jets]

He still has 2 more years in his Presidency, it will be fine. They'll get it done.

Even with a GOP Congress?

 

[PinktheFloyd88]

Even with a GOP Congress?

GOP won't win the midterms, it will be fine.

 

[JGalt]

Joey's tax plan was primarily aimed at oil and gas company's being put under furthur hardship and duress in order to supplant the far left's Green New Deal!!

His American Rescue Plan put a heavy tax burden on low and middle class that wasn't there before. If you sell a cumulative amount of $600 worth in a year online and get paid through a third-party payment processor like Venmo or the PayPal, you will automatically have to file a 1099k next year.

Say for instance your a retired person living on fixed income and you want to sell off some things you have around the house to buy some prescription medicine. If you sell anything worth $600 or more, you get dinged. Say you want to sell your lawnmower on Craigslist, and the buyer pays you with a third-party payment method, you have your pay taxes on your sale.

 

[Paleman]

Good for her. The federal government doesn't need to collect any more taxes than they currently are. They have been taking in record revenue. What is needed is for them to start acting responsibly and live within their means just like every American household has to do and the people need to hold them to it.

MSN

Spending our tax money is their main goal in the attempt to buy votes, just behind the open border and all the future leftist votes it will produce.

 

[Fort Fun Indiana]

Good for her. The federal government doesn't need to collect any more taxes than they currently are. They have been taking in record revenue. What is needed is for them to start acting responsibly and live within their means just like every American household has to do and the people need to hold them to it.

MSN

Just another bought and paid for idiot.

Of course we need more tax revenue. Our tax revenue to gdp is embarrassing. And it shows in our debt and our embarrassingly lacking infrastructure, heath services, education, etc

 

[Dont Taz Me Bro]

Just another bought and paid for idiot.

Of course we need more tax revenue. Our tax revenue to gdp is embarrassing. And it shows in our debt and our embarrassingly lacking infrastructure, heath services, education, etc

We can easily afford to pay for all of those things given that they’re taking in well over $4 trillion a year. The problem is all the bullshit garbage that our government wastes this money on

And let’s not forget there are 50 states not to mention local governments taking in hundreds of billions of dollars a year as well

 

[Fort Fun Indiana]

We can easily afford to pay for all of those things given that they’re taking in well over $4 trillion a year. The problem is all the bullshit garbage that our government wastes this money on

Easy to say, and ALWAYS true, to some degree or another.

Yes, okay, I dislike "waste". Same as you. Nevertheless, this isn't a discussion of how business is done, it's more a discussion of what we should be spending the money on.

So, okay, let's trim the fat, and also realize our country, is, like... really big. We need infrastructure, public health insurance, daycare, education, etc. These would seem to be such low hurdles for the strongest economy in history, in the year 2021.

 

[basquebromance]