8
   

This is Biden's America

 
 
edgarblythe
 
  3  
Reply Fri 22 Jul, 2022 11:04 pm
Pressley Calls on Biden to Stop Allowing Military Weapons to Go to Police
https://truthout.org/articles/pressley-calls-on-biden-to-stop-allowing-military-weapons-to-go-to-police/?fbclid=IwAR1q6DMpihTyvsKf6cb1e43AY-vfq010iWdJhmvksa2qIPRuvafAU5t8Kt0
0 Replies
 
edgarblythe
 
  1  
Reply Mon 25 Jul, 2022 09:38 pm
NEWS: 165 Biden admin staffers are demanding Biden stop surrendering on climate & start using his power to fulfill his climate promises.
“We’ve done our part. We implore you to do yours…For the sake of our survival, you must use your authority.”
bulmabriefs144
 
  -3  
Reply Mon 25 Jul, 2022 10:10 pm
@edgarblythe,
He needs to fire those staffers.

Biden is currently at conflict between his woke staff, and millions of Americans who are paying hundreds a month in gas. The price has lowered slightly because he caved and begged the Saudis for oil. He needs to keep begging like the pathetic little man he is.

0 Replies
 
edgarblythe
 
  1  
Reply Tue 26 Jul, 2022 09:54 am
https://scontent-hou1-1.xx.fbcdn.net/v/t39.30808-6/295518016_1248340719234889_1771894635948675169_n.jpg?_nc_cat=110&ccb=1-7&_nc_sid=730e14&_nc_ohc=7a7jAyqnWaQAX_9kcuY&_nc_ht=scontent-hou1-1.xx&oh=00_AT9-jLrEJpssChYxzNv9BDTzLhqYB3Mfj2Dk_41DNMt2SQ&oe=62E534A3
0 Replies
 
edgarblythe
 
  1  
Reply Tue 26 Jul, 2022 10:20 am
A quiet scandal is happening in D.C. Biden has nominated three brutal prosecutors as judges for local D.C. courts, including the *same prosecutor* Trump tried (and failed) to nominate to the highest court in D.C. If Congress allows this, it's a disaster for people in D.C.

Each of Biden's nominees chose to devote their professional career to anti-science human caging policies that are unprecedented in history. That choice to use power/privilege to crush poor people was what made the highest ranking one appealing to Trump.


Alec Karakatsanis
@equalityAlec
·
1h
I litigated for years against the office from which Biden selected the other two of these nominees. We proved rampant prosecutor misconduct, lying, sweeping ethics violations under the rug, complicity with cop violence. Where have these nominees spoken publicly against this?
Alec Karakatsanis
@equalityAlec
·
1h
Each of those nominees chose to work for years in an office that is responsible for D.C. caging Black people at a rate 19 times that of white people, and almost exclusively poor people:

T L Trevaskis
@tl_trevaskis
·
1h
Replying to
@equalityAlec
Is it my imagination, or has Biden been indicating that he's in favor of a kind of police state?
m00ph
@m00ph23
·
1h
That's Bidens career. Combined with his cop VP, it's no wonder some of us were not thrilled about this ticket.
Hoarder of Ball lids
@ya_argh
·
23m
Replying to
@equalityAlec
and
@CriminalUnionFW
But but but we need to vote blue no matter who

Trans Gruber
@DraughtJane
·
15m
Replying to
@equalityAlec
He has to do it, because the GOP has a lot of senators or something. His hands are tied! Or something.

Or something.
0 Replies
 
edgarblythe
 
  2  
Reply Fri 29 Jul, 2022 07:59 am
https://scontent-hou1-1.xx.fbcdn.net/v/t39.30808-6/296213511_3245610355768124_2387054058517942482_n.jpg?_nc_cat=107&ccb=1-7&_nc_sid=730e14&_nc_ohc=PRtStzRLQrIAX9qBDxr&_nc_ht=scontent-hou1-1.xx&oh=00_AT8IG1OXNMk9papVqWKPg6nFZgkioMTgo_L2so7VJVBWPA&oe=62E89AD4
0 Replies
 
edgarblythe
 
  2  
Reply Sat 30 Jul, 2022 02:42 pm

Nina Turner
@ninaturner
·
4h
Louis DeJoy is planning on cutting 50,000 jobs from the USPS. It should absolutely be a bigger story.
***************
If Biden really cared he would have been able to get rid of DeJoy.
0 Replies
 
edgarblythe
 
  2  
Reply Mon 1 Aug, 2022 06:03 am
0 Replies
 
edgarblythe
 
  1  
Reply Fri 5 Aug, 2022 05:44 am
Dems’ Gift To Their Wall Street Donors

Democrats and the Washington press corps spent the last week insisting that the party was about to close a notorious tax loophole that allows many Wall Street billionaires to pay a lower tax rate than most Americans.

In truth, the proposal would have left most of the loophole open, fulfilling Senate Majority Leader Chuck Schumer’s (D-N.Y.) longstanding pledge to protect the private equity industry that bankrolls his campaigns. Now, the plan is gone.

On Thursday night, Sen. Kyrsten Sinema (D-Ariz.), a favorite of private equity donors, announced that Democrats "have agreed to remove the carried interest tax provision.” Meanwhile, President Joe Biden — who pledged to close the loophole — continues to decline to try to use his executive tax enforcement authority to shut the tax break.

Taken together, Democrats’ bait and switch allowed party lawmakers to pretend they were finally cracking down on private equity moguls, while actually protecting them.

That political gift to Wall Street comes after the private equity industry has delivered $83 million to Democratic politicians and $62 million to Republicans at the federal level over the last two election cycles. That includes $1.2 million to Schumer in just the last cycle, and $283,000 to Sinema.

Despite the fact the provision was always set to mostly preserve the loophole, corporate media outlets echoed Democratic leaders’ insistence that they were closing it — even as a major corporate law firm and other experts acknowledged that was not actually happening.

“Contrary To Discussions In The Media”
At issue is the so-called “carried interest” tax loophole, which permits private equity managers to classify their earnings as capital gains rather than regular income. That allows them to have portions of their income taxed at the lower capital gains rate of 20 percent, as opposed to the top income rate of 37 percent.

Democratic politicians have long pledged to close the loophole, and they have previously introduced legislation to reap $63 billion by completely eliminating it. They spent the last week insisting their new Inflation Reduction Act (IRA) would do that.

“I think the people that have benefited from carried interest for years and years and years knew that they had a good run, it was long overdue to get rid of it and you can’t justify it anymore,” Senator Joe Manchin (D-W.Va.) told The Hill last week.

However, the proposal negotiated by Manchin and Schumer rejected the party’s previous legislation and would have only slightly limited the tax break.

Instead of generating $63 billion in savings, as a 2021 proposal to fully close the loophole would, the new version would have only recouped $14 billion — effectively preserving most of the controversial tax break.

The measure would have only increased the time that firms must hold assets in order for their income to qualify as carried interest, changing it from three years to five years.

This reform would have increased the amount of private equity income subject to taxes at the ordinary rates, but only modestly, because many private equity investments last far longer than five years.

For instance: The Carlyle Group’s investment in Manorcare, a nursing home company, lasted 11 years. Petsmart has been in BC Partners’ portfolio for more than seven years. The Blackstone Group held Hilton Hotels for 11 years.

Tax law professor Victor Fleischer, a former top Democratic tax policy aide on Capitol Hill who initiated the effort to end the carried interest loophole in 2007, said on Twitter, “The Schumer-Manchin deal on carried interest isn’t great. All it does is extend the holding period from 3 to 5 years… Most private equity deals are 5-7 years, so most carried interest will continue to be taxed as long term capital gain.”

DLA Piper, a law firm with a large private equity practice, noted in a client alert last week, the IRA “would not, contrary to discussions in the media, close the carried interest loophole.”

One way to know for sure: As corporate lobbyist Liam Donovan tweeted, existing Democratic legislation to fully close the loophole would have raised more than four times as much revenue as the provision originally included in the Manchin-Schumer deal.

Big Donors To Democrats
It should not come as a shock that Democrats weren’t pushing to outright close the carried interest loophole.

Schumer, for example, has long been an ally of the private equity industry. In 2009 and 2010, he tried adding a poison pill to a legislative effort to kill the loophole.

His recent carried interest proposal arrived just days before a private equity giant hired his son-in-law.

The industry has also showered President Joe Biden with cash. Private equity manager Marc Lasry raised more than $3 million for Biden’s 2020 campaign, while Blackstone Group executives donated $350,000 to a pro-Biden super PAC.

While the IRA would not have closed the carried interest loophole, and would not have affected the majority of private equity income, the industry went through the motions of pressing allied lawmakers to strip the carried interest changes out of the bill.

After many news stories indicated Sinema was pushing to remove the measure, she issued a statement saying that Democrats are nixing the carried interest proposal. She added that she's planning to work with Sen. Mark Warner (D-Va.), to "enact carried interest tax reforms, protecting investments in America's economy and encouraging continued growth while closing the most egregious loopholes that some abuse to avoid paying taxes.”

Corporate Media Gets The Story Wrong
As the private equity industry and Sinema worked to kill Democrats’ carried interest proposal, corporate media outlets repeatedly oversold the measure, saying it would end the loophole entirely. These mistakes had the effect of making Schumer and Manchin look like populist heroes while also providing cover to those who wanted the measure gone.

On Wednesday, NPR compared the current carried interest language to a 2019 proposal that would have also raised $14 billion over a decade, rather than the gold standard 2021 proposal from Senate Finance Committee Chairman Ron Wyden (D-Ore.) and Sen. Sheldon Whitehouse (D-R.I.), which would have raised $63 billion over a decade.

In their August 2021 press release, Wyden and Whitehouse said, “Unlike other bills, the senators’ bill would close the entire carried interest loophole.” Similarly, Punchbowl News, one of the Beltway’s most reliable purveyors of corporate spin, oversold the carried interest changes several times.

Last week, Punchbowl asserted that the Manchin-Schumer “plan eliminates the carried-interest loophole.” Punchbowl similarly wrote on Wednesday, “Perhaps the biggest question in the reconciliation process is whether the elimination of the carried-interest loophole makes it through Congress.”
edgarblythe
 
  1  
Reply Fri 5 Aug, 2022 05:46 am
Schumer’s Family Business
Blackstone just hired Chuck Schumer’s son-in-law as a lobbyist, the latest of his relatives to take a job at a company lobbying the Senate on major legislation.
Frank Apisa
 
  1  
Reply Fri 5 Aug, 2022 06:24 am
@edgarblythe,
edgarblythe wrote:


Dems’ Gift To Their Wall Street Donors

Democrats and the Washington press corps spent the last week insisting that the party was about to close a notorious tax loophole that allows many Wall Street billionaires to pay a lower tax rate than most Americans.

In truth, the proposal would have left most of the loophole open, fulfilling Senate Majority Leader Chuck Schumer’s (D-N.Y.) longstanding pledge to protect the private equity industry that bankrolls his campaigns. Now, the plan is gone.

On Thursday night, Sen. Kyrsten Sinema (D-Ariz.), a favorite of private equity donors, announced that Democrats "have agreed to remove the carried interest tax provision.” Meanwhile, President Joe Biden — who pledged to close the loophole — continues to decline to try to use his executive tax enforcement authority to shut the tax break.

Taken together, Democrats’ bait and switch allowed party lawmakers to pretend they were finally cracking down on private equity moguls, while actually protecting them.

That political gift to Wall Street comes after the private equity industry has delivered $83 million to Democratic politicians and $62 million to Republicans at the federal level over the last two election cycles. That includes $1.2 million to Schumer in just the last cycle, and $283,000 to Sinema.

Despite the fact the provision was always set to mostly preserve the loophole, corporate media outlets echoed Democratic leaders’ insistence that they were closing it — even as a major corporate law firm and other experts acknowledged that was not actually happening.

“Contrary To Discussions In The Media”
At issue is the so-called “carried interest” tax loophole, which permits private equity managers to classify their earnings as capital gains rather than regular income. That allows them to have portions of their income taxed at the lower capital gains rate of 20 percent, as opposed to the top income rate of 37 percent.

Democratic politicians have long pledged to close the loophole, and they have previously introduced legislation to reap $63 billion by completely eliminating it. They spent the last week insisting their new Inflation Reduction Act (IRA) would do that.

“I think the people that have benefited from carried interest for years and years and years knew that they had a good run, it was long overdue to get rid of it and you can’t justify it anymore,” Senator Joe Manchin (D-W.Va.) told The Hill last week.

However, the proposal negotiated by Manchin and Schumer rejected the party’s previous legislation and would have only slightly limited the tax break.

Instead of generating $63 billion in savings, as a 2021 proposal to fully close the loophole would, the new version would have only recouped $14 billion — effectively preserving most of the controversial tax break.

The measure would have only increased the time that firms must hold assets in order for their income to qualify as carried interest, changing it from three years to five years.

This reform would have increased the amount of private equity income subject to taxes at the ordinary rates, but only modestly, because many private equity investments last far longer than five years.

For instance: The Carlyle Group’s investment in Manorcare, a nursing home company, lasted 11 years. Petsmart has been in BC Partners’ portfolio for more than seven years. The Blackstone Group held Hilton Hotels for 11 years.

Tax law professor Victor Fleischer, a former top Democratic tax policy aide on Capitol Hill who initiated the effort to end the carried interest loophole in 2007, said on Twitter, “The Schumer-Manchin deal on carried interest isn’t great. All it does is extend the holding period from 3 to 5 years… Most private equity deals are 5-7 years, so most carried interest will continue to be taxed as long term capital gain.”

DLA Piper, a law firm with a large private equity practice, noted in a client alert last week, the IRA “would not, contrary to discussions in the media, close the carried interest loophole.”

One way to know for sure: As corporate lobbyist Liam Donovan tweeted, existing Democratic legislation to fully close the loophole would have raised more than four times as much revenue as the provision originally included in the Manchin-Schumer deal.

Big Donors To Democrats
It should not come as a shock that Democrats weren’t pushing to outright close the carried interest loophole.

Schumer, for example, has long been an ally of the private equity industry. In 2009 and 2010, he tried adding a poison pill to a legislative effort to kill the loophole.

His recent carried interest proposal arrived just days before a private equity giant hired his son-in-law.

The industry has also showered President Joe Biden with cash. Private equity manager Marc Lasry raised more than $3 million for Biden’s 2020 campaign, while Blackstone Group executives donated $350,000 to a pro-Biden super PAC.

While the IRA would not have closed the carried interest loophole, and would not have affected the majority of private equity income, the industry went through the motions of pressing allied lawmakers to strip the carried interest changes out of the bill.

After many news stories indicated Sinema was pushing to remove the measure, she issued a statement saying that Democrats are nixing the carried interest proposal. She added that she's planning to work with Sen. Mark Warner (D-Va.), to "enact carried interest tax reforms, protecting investments in America's economy and encouraging continued growth while closing the most egregious loopholes that some abuse to avoid paying taxes.”

Corporate Media Gets The Story Wrong
As the private equity industry and Sinema worked to kill Democrats’ carried interest proposal, corporate media outlets repeatedly oversold the measure, saying it would end the loophole entirely. These mistakes had the effect of making Schumer and Manchin look like populist heroes while also providing cover to those who wanted the measure gone.

On Wednesday, NPR compared the current carried interest language to a 2019 proposal that would have also raised $14 billion over a decade, rather than the gold standard 2021 proposal from Senate Finance Committee Chairman Ron Wyden (D-Ore.) and Sen. Sheldon Whitehouse (D-R.I.), which would have raised $63 billion over a decade.

In their August 2021 press release, Wyden and Whitehouse said, “Unlike other bills, the senators’ bill would close the entire carried interest loophole.” Similarly, Punchbowl News, one of the Beltway’s most reliable purveyors of corporate spin, oversold the carried interest changes several times.

Last week, Punchbowl asserted that the Manchin-Schumer “plan eliminates the carried-interest loophole.” Punchbowl similarly wrote on Wednesday, “Perhaps the biggest question in the reconciliation process is whether the elimination of the carried-interest loophole makes it through Congress.”


Yeah, Edgar is correct. So you should vote Republican...the ONLY real alternative. That will make things much better.
0 Replies
 
Frank Apisa
 
  0  
Reply Fri 5 Aug, 2022 06:26 am
@edgarblythe,
edgarblythe wrote:

Schumer’s Family Business
Blackstone just hired Chuck Schumer’s son-in-law as a lobbyist, the latest of his relatives to take a job at a company lobbying the Senate on major legislation.


Yeah, Edgar is correct. So you should vote Republican. Getting Mitch McConnell back in should make things much better.
0 Replies
 
edgarblythe
 
  2  
Reply Fri 5 Aug, 2022 07:03 am
When Elon Musk is thanking Joe Manchin for legislation 🚩🚩🚩
0 Replies
 
edgarblythe
 
  2  
Reply Fri 5 Aug, 2022 10:10 am
https://scontent-hou1-1.xx.fbcdn.net/v/t39.30808-6/293788232_464096762387488_5874361235474577876_n.jpg?_nc_cat=103&ccb=1-7&_nc_sid=730e14&_nc_ohc=QjFg_gvKNkEAX823uTq&_nc_ht=scontent-hou1-1.xx&oh=00_AT8i89AX_fcogk0qA9aJquWq43jRPPNI1Pzp_fiINLlTkg&oe=62F1EA8D
0 Replies
 
edgarblythe
 
  0  
Reply Mon 8 Aug, 2022 06:56 am
Schumer Lets Aide Kill Key Drug Price Reforms
BY DAVID SIROTA – 06 AUG 2022 –


Senate Majority Leader Chuck Schumer (D-N.Y.) let a U.S. Senate adviser kill key parts of Democrats’ promised drug pricing legislation, as Schumer has become the Senate’s second largest recipient of pharmaceutical industry cash.

On Saturday, the Senate's parliamentary adviser Elizabeth MacDonough — who Schumer can remove — issued a non-binding advisory opinion saying Democrats should remove provisions in their spending bill that would punish drugmakers for inflating their prices for patients in private health insurance plans. The provision could have saved $40 billion, according to one estimate.

“The exclusion of the private insurance price limits means there is little left that will reduce costs for the vast majority of Americans who receive health insurance through their private sector employer,” reported Politico.

MacDonough also advised Democrats against including a provision in their legislation to cap out-of-pocket insulin costs at $35 a month for people on private insurance plans. Democrats ultimately held a failed vote to overrule her on the insulin cap.

Democrats’ legislation does still allow Medicare to negotiate drug prices for the first time — but only on 10 drugs by 2026, and eventually 20 drugs per year. Removing the inflation cap will substantially limit protections for patients on private health insurance plans. Medicare patients will benefit from the $35 cap on out-of-pocket insulin costs, but patients on private insurance plans will not.

Taken together, Democrats’ signature drug pricing measure is now a shell of the proposal that lawmakers debated for much of last year, and far weaker than the compromise deal negotiated by the party’s drug industry allies.

“Unfortunate Ruling”
Like Republicans have done in the past, Schumer could simply fire MacDonough or the Democrats’ presiding officer of the Senate could ignore her opinions. Instead, though, Schumer has issued public statements lamenting the advisories, but refusing to do anything to change, stop, or ignore them.

Before this, he allowed the parliamentarian to initially kill Democrats’ promised $15-minimum wage legislation, and then eight Senate Democrats voted with Republicans to prevent it from being revived. The parliamentarian also killed Democrats’ immigration reform plan.

In this new case, pharmaceutical lobbyists have been working with Republican lawmakers to help them influence MacDonough’s advisories.

“While there was one unfortunate ruling in that the inflation rebate is more limited in scope, the overall program remains intact,” Schumer said of his aide’s latest non-binding opinions.

MacDonough, the parliamentarian, also helped kill the $35 cap on out-of-pocket costs for insulin. Democrats could have ignored her advice but didn’t, before trying to keep the measure in the bill anyway.

Sen. Lindsey Graham (R-S.C.) raised a point of order, which led to a vote to keep the measure in the bill that would have required 60 votes to succeed. Handled differently, Democrats could have set up a scenario in which it may have required 60 votes to exclude the provision from the bill.

In the end, all 50 Democrats voted to keep the insulin cap in the bill, along with seven Republicans, and it failed.

Pharma Cash Floods Into Democratic Coffers
Schumer’s refusal to do anything about the parliamentary adviser’s edict on the drug inflation cap comes as he has raked in more than $289,000 from donors in the pharmaceutical and health products industry during his 2022 election campaign. Eight of the Senate’s top 10 recipients of donations from that industry are Democrats.

That includes Arizona Sen. Kyrsten Sinema, who has raked in more than $556,000 from the industry since 2017. She has also benefited from a flood of supportive TV ads from a Big Pharma front group.

Sinema recently said her support of the bill would be subject to the parliamentarian's review. She previously said: “There is no instance in which I would overrule a parliamentarian’s decision.”

Yet, Sinema actually voted on Sunday to overrule the parliamentarian and keep the $35 insulin cap in the bill. Perhaps she would have voted differently if the measure had a genuine shot at passage.

In all, the pharmaceutical and health products industry has funneled more than $61 million to Democratic candidates in the last two election cycles, far more than it gave to GOP lawmakers in the same time period.
0 Replies
 
 

Related Topics

Obama '08? - Discussion by sozobe
Let's get rid of the Electoral College - Discussion by Robert Gentel
McCain's VP: - Discussion by Cycloptichorn
Food Stamp Turkeys - Discussion by H2O MAN
The 2008 Democrat Convention - Discussion by Lash
McCain is blowing his election chances. - Discussion by McGentrix
Snowdon is a dummy - Discussion by cicerone imposter
GAFFNEY: Whose side is Obama on? - Discussion by gungasnake
 
Copyright © 2022 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 0.03 seconds on 08/09/2022 at 08:33:33