Manchin kills tax agreement (and now unkills it - Inflation reduction act)

He has be kicking the donkeys in the nads lately... And I love that about him.

 

They just did that but didn’t lower spending

 

He's a real American hero to multi-national corporations and extremely wealthy taxpayers that use foreign tax havens to shield income from taxation. Not sure about average Americans.

 

All the dems have to do is wait until they have larger majorities after the mid terms.

 

Not surprisingly many on here want to take a very complex multi faceted process and dumb it down to a sound byte.
Others want to use it to insult the other side of the aisle and call them dumb or uninformed when they (the poster making the claim) admits he doesn’t know much about it.
Since the dems are all for it it must be good and since the republicans are all against it they must be dumb.
Or
There could be many parts of this that are worrisome and or unmanageable.
Just because Manchin doesn’t like THIS way of bringing … forcing … money back tot the IS doesn’t mean he is against it in principal.
And I disagree with the “we have to do something, anything” approach. We often end up with terrible unforeseen consequences that spiral out and compound down the road.

 

Yep, these jokers constantly attatch crazy shit to these supposed 'bipartisan bills'. This is why right now especially, gridlock is good.

 

Why are you mad at the job creators who hire illegal immigrants and then park their money overseas through tax shelters? (Sarcasm). I think Manchin is right to block the US entering into tax law changes to institute the Pillar II framework (for now). There isn’t enough information yet to see what other countries will do to institute the framework.

 

If I’m understanding this, there is no “bill”, this was a proposed international agreement of 130 nations to put a floor under international tax rates. I’m at a loss as to why any citizen could be against going after tax havens. While one poster here is essentially arguing “this doesn’t shut the door enough, or it’s too opaque to be effective”. There might be technical legal shortfalls. Rather than this, the GOP argument seems to be the more ideological “it’s a back door tax corporate hike, can’t have that”. Even closing off loopholes are now tax hikes. This thinking makes real fiscal conservatism impossible.

To actually pass this would have likely required this to be part of the reconciliation budget process, not a standalone bill. Manchin is basically saying he does not support this as a concept. That has nothing to do with “crazy shit attached to bipartisan bills”.

I also do not see a CBO score as far as what the expected impact to the U.S. budget deficit would be. That would be useful. But we already know it’s generally seen as a revenue raiser, which is why there is no room for Republicans to even consider these international competitiveness issues.

 

He’s an enigma. Sinema will have her 2 cents on tax increase.

Inflation Reduction Act of 2022

Nice name. Incudes deficit reduction.

 

Meh I don't trust him. Sinema will probably block it anyway

 

Larry Summer approves

 

Inflation reduction act...can't get massive spending bill passed, change the name. Who couldn't vote for that?

 

This is a pretty big deal. Joe Manchin is an enigma. I cant figure him out but hopefully this sticks. What a great win for Biden, the Democrats, Americans, World Citizens, our environment, healthcare, inflation, drug affordability, tax fairness, and world peace.

 

Don't forget puppies and kitties.

 

Are you against efforts to fight co2 emissions? I’d be interested to know how protecting our planet for our descendants is a political consideration.

 

Timing is everything. Fuel on an inflation fire is not a great idea.
Do you care about the common man?

 

Very much so. But hasn’t there always been one excuse or another for not doing something about man made climate change? As for fuel on the inflation fire, I confess to not knowing enough about economics to know how much of a concern that is.

 

So do we just not worry about global warming until it’s a legit pants on fire crisis? Cause I’m pretty sure that’ll be bad for the common man too.

 

For a guy who seems all in on the libbie agenda seems like you would think twice about sending soaring inflation even higher. You guys need to think about the little guy. You’re going to put a lot of people in financial dire straits.
It won’t affect me or most people on this board. Where’s the compassion?