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It closes tax loopholes, forcing any company that earns $1 billion or more to have to pay 15% min corp tax...ie they can't cheat the system anymore...so the Feds collect far more than they are spending...this is indeed progress.
It closes tax loopholes, forcing any company that earns $1 billion or more to have to pay 15% min corp tax...ie they can't cheat the system anymore...so the Feds collect far more than they are spending...this is indeed progress.
And where is all that money going to go? Ukraine??????? What is stopping these companies from simply moving their base of operations out of the USA and to Mexico where thanks to NAFTA, they don't have to worry about import tax.
It closes tax loopholes, forcing any company that earns $1 billion or more to have to pay 15% min corp tax...ie they can't cheat the system anymore...so the Feds collect far more than they are spending...this is indeed progress.
you were OK - at least it was a legitimate opinion - until the bolded. In 2 parts:
1. they are not cheating the system. The tax code, put into law by Congress, tells these companies what they can deduct on their income statement and what they cannot.
2. the Feds will NOT "collect far more than they are spending". They actually spend more ($440B) than the new minimum tax generates ($260B).
Quote:
"The impact on inflation is statistically indistinguishable from zero," concluded the Penn Wharton Budget Model (PWBM), a number-crunching policy center based at the University of Pennsylvania. In fact, if the bill's passage had any impact on inflation in the short term, it would be to increase it very slightly until 2024, according to the group's preliminary analysis, released on Friday.
more than 18 months for the "Inflation Reduction Act" to have any positive effect on inflation.
She may have a spine of steel but it is cheap steel and it is corroded. It's all about the money with her. She is calling the donor log now to see how much she can make by standing in the way of progress.
I'm curious as to what "progress" passing this spending bill is going to see happen. How is raising taxes and larger businesses and throwing the money hither and yon progression? The Dems and their wackaloon base have been yowling that corporations "pay their fair share" for a long time now even though these operations already pay huge sums in taxes at both the federal and state levels.
That is certainly not going to curb inflation in any way as these operations will just pass that extra 15% the government will chop off the top of their bottom line onto consumers. 15% is a LOT of money and the federal government cannot be trusted in any way to use that money wisely and effectively. What they say they ae going to spend it on and what will actually happen are two radically different things.
The new tax on the coal industry is going to smack Manchin's constituents square twixt the eyes and I don't see them being giddy about that. This bill if passed is going to hurt the whole country in a big way. The last thing we need to do is give the federal government more money to throw around right now. All this bill will do is jack inflation up higher and increase federal debt which is already beyond hope of ever seeing balanced out.
If their going to pass any bill in relation to spending and taxes it should be a balanced budget amendment. LMAO, like THAT will ever happen What with reps like Nasty Nancy jetting around the world at taxpayer expense and getting the rose petal covered red carpet thrown out at the swanky hotels she'll be staying in and the ever so fine cuisine she'll be eating all financed by us peasants perish the thought of reining in federal spending.
I just can't see any good coming out of passing this spending bill. I truly hope Sinema holds the line and doesn't fold up like rice paper like Manchin did. He's going to be answering to West Virginians for that methinks.
The Republicans are screaming about inflation...but had no issue spending more on a military thats the largest in the world for a country that borders....Canada, and Mexico.
Its not about inflation. Its about acting like this is a game, and not a real world.
The Republicans are screaming about inflation...but had no issue spending more on a military thats the largest in the world for a country that borders....Canada, and Mexico.
Its not about inflation. Its about acting like this is a game, and not a real world.
I especially approved when Trump diverted defense dept $$ to border security. Real world
She and Manchin need to stop standing in the way of progress.
Manchin sold out, as any good democrat would do, he chose party over country.
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