{"id":176060,"date":"2020-09-15T18:15:00","date_gmt":"2020-09-15T23:15:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/09\/15\/well-that-was-quick\/"},"modified":"2020-09-15T18:15:00","modified_gmt":"2020-09-15T23:15:00","slug":"well-that-was-quick","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/09\/15\/well-that-was-quick\/","title":{"rendered":"Well, That was Quick"},"content":{"rendered":"
6 Weeks until the election, and the Democratic Party establishment (There is no Democratic Party establishment) is already walking back their promise to cut Trump’s tax cuts for the rich<\/a>.<\/div>\n

They just can’t resist stepping their own dicks to kowtow to the rich:<\/p>\n

Democrats are backing away from vows to reverse President Trump<\/a>\u2019s tax cuts if they take control of the Senate and White House.<\/p>\n

Senate Democrats had suggested they could move quickly on the issue, but now say they are likely to delay stand-alone tax legislation if Democratic nominee Joe Biden<\/a> is elected president and their party controls the House and Senate.<\/p>\n

\u2026\u2026\u2026<\/p>\n

Democrats realize they need to tread carefully on taxes and the economy. While Biden is leading Trump in the national polls, voters still give Trump higher marks on handling the economy.<\/p>\n

There are also divisions among Democrats over how far to go with taxes on corporations and the wealthy, which makes it difficult to move quickly on the issue.<\/span><\/p><\/blockquote>\n

The Blue Dogs, the New Dems, and the rest of their “Third Way” fellow travelers want to make sure that they can continue to deliver inequality and corruption for their corporate and moneybags clients.<\/p>\n

\u201cI think we ought to make the decision when we have a better sense of where the economy is going,\u201d said Sen. Dianne Feinstein<\/a> (D-Calif.), who added \u201cthere\u2019s an element of truth\u201d to the argument that policymakers shouldn\u2019t raise taxes during a recession. <\/span><\/p><\/blockquote>\n

My second cousin once removed being a classic example of this.<\/p>\n

Sen. Debbie Stabenow<\/a> (D-Mich.), a member of the Senate Finance Committee and one of Senate Minority Leader Charles Schumer<\/a>\u2019s (D-N.Y.) closest allies, said she has \u201cno idea\u201d when Democrats would move a tax package next year if they win control of the White House and the Senate.<\/p>\n

\u2026\u2026\u2026<\/p>\n

\u201cI\u2019m sure a tax piece will be in there somewhere, but No. 1 priority will be COVID,\u201d she added.<\/span><\/p><\/blockquote>\n

That means never, at least not in a meaningful way. <\/p>\n

Sen. Richard Blumenthal (D-Conn.) said Democrats will need to \u201cbalance\u201d the need to raise revenues with the overall health of the economy, which has slowed dramatically as a result of the pandemic.<\/span><\/p><\/blockquote>\n

Also, never. <\/p>\n

\u2026\u2026\u2026<\/p>\n

Some Democrats are pushing for ratcheting up taxes on millionaires and billionaires immediately if their party wins big in November.<\/p>\n

Charles Chamberlain, executive director of Democracy for America, a liberal political action committee, said waiting to raise taxes on the rich is a \u201cterrible idea.\u201d<\/p>\n

\u2026\u2026\u2026<\/p>\n

Progressive leaders such as Sens. Elizabeth Warren<\/a> (D-Mass.) and Bernie Sanders<\/a> (I-Vt.) are pushing for a wealth tax, but Schumer is more focused on lifting the cap on deductions for state and local taxes (SALT), a top priority in New York and other states with high costs of living.<\/span><\/p><\/blockquote>\n

Schumer is pushing for tax relief to the already very well off. <\/p>\n

\u2026\u2026\u2026<\/p>\n

Biden\u2019s tax plan does not include a wealth tax. Instead, he would raise revenue by raising the top income tax rate on individuals from 37 percent to 39.6 percent, subject earnings over $400,000 to Social Security payroll taxes, and tax capital gains at the same rate as other income for people who earn more than $1 million.<\/span><\/p><\/blockquote>\n

Half measures. <\/p>\n

The between the corporate Democrats, and the relentless hippie punching against anyone who wants to help ordinary folks, seems almost calculated to demoralize the base.<\/p>\n","protected":false},"excerpt":{"rendered":"

6 Weeks until the election, and the Democratic Party establishment (There is no Democratic Party establishment) is already walking back their promise to cut Trump’s tax cuts for the rich. They just can’t resist stepping their own dicks to kowtow to the rich: Democrats are backing away from vows to reverse President Trump\u2019s tax cuts …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[817],"class_list":["post-176060","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176060"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=176060"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176060\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}