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This has to be one of the biggest misnomers of a bill in recent times. I'm skeptical that it will have much if any impact on inflation. That being said though, it does have some meaningful components I can agree with such as deficit reduction and investment in clean energy infrastructure.
So, what is the solution to end this kind of crap once and for all?
As long as Congress is allowed to lay and collect a tax calculated from profits, gains, sales, interest, salaries, wages, tips, inheritances or any other lawfully realized money, this kind of crap will never end. And that is why concerned American citizens need to consider adopting the Fair Share Balanced Budget Amendment as part of our Constitution which begins with the following words:
“SECTION 1. The Sixteenth Amendment is hereby repealed and Congress is henceforth forbidden to lay any tax or burden calculated from profits, gains, sales, interest, salaries, wages, tips, inheritances or any other lawfully realized money.
NOTE: The above words would return us to our founding father’s original tax plan as they intended it to operate! They would also end the experiment with allowing Congress to lay and collect taxes calculated from lawfully earned “incomes” which now oppresses America‘s economic engine and robs the bread which working people have earned when selling the property they have in their own labor!
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In 1787:
Population was about 3.9 million, mostly white, Protestant leaning, English speaking from the British Isles.
Projected life expectancy was 38 years
There was no public education About 40% of population was illiterate.
People were too busy trying to survive to pay attention to politics.
90% % of the population was engaged in agriculture.
Slavery was legal and slaves were not counted as humans.
Women had no right to vote.
There were no cars or planes or trains.
The concept of childhood did not exist beyond the elite.
Sucked to be you if you lived in an area that experienced a natural disaster.
There was no electricity or telephone or plumbing.
Masses of horse manure and swarms of flies covered the dirt roads in towns.
People rarely had the opportunity to bathe and many thought bathing caused disease. Germ theory was 100 years into the future.
Native people were viewed as enemies.
Drinking rum and Madeira wine throughout the Constitutional Convention was the norm.
good, because no smart person would vote for this bill which will INCREASE inflation, INCREASE the debt, INCREASE the deficit, INCREASE taxes on the poor and middleclass, do nothing to actually help the environment, and it wont actually lower prescription prices..... all in an OFF BUDGET bill, that goes directly to the national debt
This has to be one of the biggest misnomers of a bill in recent times. I'm skeptical that it will have much if any impact on inflation. That being said though, it does have some meaningful components I can agree with such as deficit reduction and investment in clean energy infrastructure.
it will NOT lower inflation
it will not lower the deficit
since its an OFF BUDGET bill, it ADDS directly to the national debt
with interest rates being raised by the fed, it means our interest on the debt also increases (our debt/interest maintenance is part of the budget)..therefore the deficit WILL increase, not get smaller
and its few tax incentives for green energy, wont actually do anything, especially not in a inflation/stagflation economy
What is the name of this bill again? That's what I thought.....A total Orwellian name, the exact opposite of what it is.....example, 2+2=5. Fits in fine, snug as a rug...example, when the demo party accuses others of crimes, they are in fact guilty of said crime. They follow the script to a tee. Rotten to the core.
Even the medicare part of this bill, is nothing but a burp.
Another disaster from the incompetent spend-thrift money-printing Democrats. There is record high inflation, for which this will do little or nothing, and probably make it worse. The Dems want to add 86,000 more IRS agents to scrutinize and pick the pockets of citizens that can barely afford to put gas in the car and food on the table.
My guess is that since feeble demented Biden has already weaponized the FBI & DOJ, now he'll weaponize the IRS as well to fund his useless programs. Those will only benefit the leftist elites and award them with billion-dollar government contracts for things that will never get done.
Govt workers make 16% more than private sector workers, & I'm guessing that is not total comp package, but just wages alone. When pensions and benefits are included, I'd guess its 33% more.
Private sector workers are 45 times more likely to lose their job than gov't workers.
Gov't workers get more time off, & work less hours, and add nothing to GDP....ZERO!
This bill adds a lot more gov't workers, which means the private sector loses again.
Big gov't keeps getting bigger, & the rest of us are having our lives sucked out of us by them. We have all become servants to big gov't workers, & it gets worse each, and every day. Both parties are guilty.
Last edited by beach43ofus; 08-08-2022 at 10:07 AM..
Gov't is the cause for high drug costs, and high medical costs. Big Gov't has totally distorted the medical maketplace by killing competition. I could fix the entire mess w/ just a few laws.
-eliminate all corp taxes in the USA...yes ALL!
-tort reform where loser pays
-end medicaid & medicare, & let the healthcare consumers ( or an advocate) shop for their own healthcare in a open marketplace where all prices were made public like sticker prices on new cars.
I could convince you all of these things, but I'd have to write more than you'd be willing to read...its all very boring stuff, & not as much fun as mean tweets, & orange man bad, Biden's a vegetable, ect..
Quote:
Originally Posted by middle-aged mom
The legislation includes finally empowering Medicare to negotiate the cost of many prescription drugs and caps the annual out of pocket at $2000/ a year, a very real issue with some Cancer medications. The compromise was that it does not impact new medications. Rather, it targets meds in the tween state between new and generic.
There are about 55 million people age 65 and older today. Projections for 2040 are 81 million and 95 million by 2060.
Boggles the mind that it took so long.
Next up is why meds prescribed in the US tend to be higher potently than in most other countries without better outcomes.
For the past 28 years every POTUS, Clinton, Bush, Obama and Trump, began his term with a majority, then lost it. Can’t imagine Biden will fare differently.
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What is your objection to the Fair Share Balanced Budget Amendment?
