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110%er [5680]
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Biden is running again
Mar 25, 2021, 2:06 PM
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in 2024. Just said it.
When pressed again he said it is his "expectation" he will run again. He expects Kamala will be on the ticket.
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All-In [46825]
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If that's the biggest revelation from the press conference
Mar 25, 2021, 2:09 PM
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then he must have done better than I thought he would
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110%er [5680]
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Re: If that's the biggest revelation from the press conference
Mar 25, 2021, 2:30 PM
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Yeah, he did pretty well. But he new the questions.
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Orange Blooded [2763]
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I can sense Miura's blood pressure rising
Mar 25, 2021, 2:24 PM
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110%er [5680]
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Re: Biden is running again
Mar 25, 2021, 2:30 PM
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Also...Biden says
border crisis happens every year this time of year. Is that true? It does not seem like it happens every year, but could be lack of coverage some years.
people who make a billion dollars pay a lower tax rate than the average person. What BS. Total BS. Does he really believe that? Is he playing games with capital gains rates vs ordinary income? If he is, he should say that because 90% of 'mericans who believe him know nothing about capital gains.
83% of Trump tax cuts went to top 1%. What type of math is that? No way that is true.
He is claiming republican voters support him. That's a lie. Why does he think that?
He wants to increase R&D. Sounds good until you figure out what he means is that he is going to fund liberal universities even more to indoctrinate USA's youth into liberalism.
Wants to rebuild physical and technical infrastructure and create good paying jobs. Really? The government has to do this?
60% of homes in the US use lead pipes. Really?
Suggests in many schools you can't drink the water, have poor ventilation, use asbestos. Really?
*****
Cecilia Vega did press him hard on migrating children. Good for her.
Unity: I suppose he has given up. He directly insulted Trump and republicans many times.
It seems he believes the USA is a rotting POS place and country, but there is a lot of potential.
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Heisman Winner [119720]
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60% of the inner city buildings older than 1986
Mar 25, 2021, 3:57 PM
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Prob have lead pipes....that was his true stat..
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Orange Blooded [4365]
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Re: Biden is running again
Mar 25, 2021, 7:07 PM
[ in reply to Re: Biden is running again ] |
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NC
I thought I would take your questions one by one
border numbers - if you look at the numbers by the month, I think you will see that they increase every year during the spring and summer months. This was one of the reasonable concerns about the number in February. They were not as high as some months under Trump, but the expectation was that they would be going up in April, May, etc. We will have to wait and see if they climb - and if the Biden administration can get ahead of that curve.
billionaires paying lower rates - if you look at EFFECTIVE rates then this holds water.
https://www.washingtonpost.com/business/2019/10/08/first-time-history-us-billionaires-paid-lower-tax-rate-than-working-class-last-year/
83% of tax breaks go to the top 1%. This is a bit misleading. Here is an excerpt from Factcheck.org
"In 2018, according to an analysis by the Tax Policy Center, the top 1 percent of income earners would glean 20.5 percent of the tax cut benefits — a sizable chunk, but far less than the figure that’s preferred by Democrats. And in 2025, that percentage would be 25.3 percent, with the top 1 percent (those earning above $837,800) getting an average tax cut of $61,090.
Just two years later, in 2027, the percentage of tax benefits to this income group jumps to 82.8 percent, “because almost all individual income tax provisions would sunset after 2025,”
So the 83% is not true immediately but it will be true as part of the permanent cuts - and will remain true going forward from there.
Republican voters support him - there are two ways he might be looking at this. 1. There are a number of Biden policy position that have some bipartisan support. 2. About 7% of Republicans voted for Biden. It is NOT a particularly high % but they are Republicans.
After that, you start to break down into assumptions, opinions, and innuendo, so I'll leave it at that. There is some nuance to some of the statements, but not enough to justify your complete incredulity about them.
IOW, it seems like the reality is somewhere in the middle. I promise not to defend the imprecision if you will not react defensively.
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110%er [5680]
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Re: Biden is running again
Mar 25, 2021, 8:38 PM
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I know nothing about the history of the capital gains taxes, but if that is actually how the billionaires are making their billions, why not have a progressive capital gains tax? Maybe we had that in the past, not sure.
Seems like it would be popular to have 10% capital gains for people with AGI, say between 50k and 100k (zero below that). Then go up incrementally. If someone is making > $1M/year from investments, I would be okay hitting them more than 15%. Say 25% for the amount above $1M.
If you make > $5M/yr it could go up again, to say 50%. The top rates should optimize gov't revenue. It should not be so high as to incentivize people to not create and take capital gains.
You'd have to close a lot of other paths people would take to make their money at lower rates, like converting from capital gains to ordinary income. I am sure people could figure out ways to do that.
Heck, I'd be good taking the standard tax rate up, way up, for the gazzilionaires.
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Orange Blooded [4365]
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Re: Biden is running again
Mar 26, 2021, 8:36 AM
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NC
I think you are right. A progressive Cap gains tax would make a lot of sense - AND be difficult to close loopholes in. But we could do it if we set our minds to it.
OR we could tax capital gains like other income - and restructure the progressive nature of income taxes.
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All-TigerNet [12592]
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Re: Biden is running again
Mar 26, 2021, 8:57 AM
[ in reply to Re: Biden is running again ] |
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I could not disagree more. I am far from a gazzillionaire, but I can't see the wisdom in potentially having a 50% capital gains tax. Sweden is at 30%. Wealthy folks don't place their money in a hole in their backyard. China has a 20% capital gains rate. Count me crazy, but I think we benefit more from capitalism than folks having their money taken away and then redistributed by the government.
What's the point of taking risks if the payoff is limited? The government under both the GOP and the Dems has a spending problem, not a revenue problem.
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Orange Blooded [4365]
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Re: Biden is running again
Mar 26, 2021, 10:36 AM
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Ron
If we taxed capital gains like regular income, we might be able to lower income tax rates for a lot of people.
Of course, there is a rate of taxation that is counter-productive, but I don't think we are there yet. I would be happy to see a discussion about the optimal level from macroeconomic experts.
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All-In [48078]
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Re: Biden is running again
Mar 26, 2021, 9:08 AM
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He isn't really serious. He has to say that. He knows he is getting older and he doesn't want to act like he isn't up to the job.
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Letterman [283]
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Re: Biden is running again
Mar 26, 2021, 9:23 AM
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Biden can go die in a hole he is a ###
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All-In [48078]
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Re: Biden is running again
Mar 26, 2021, 9:30 AM
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Just a huge upgrade from we just had last term. We can all start over again in a few years though and see if we can do better. This nation deserves better.
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All-TigerNet [12592]
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Re: Biden is running again
Mar 26, 2021, 9:28 AM
[ in reply to Re: Biden is running again ] |
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Yes, I thought it was a stupid question. He didn't say he was running again, only that he expected to do so. The minute he declares he is one and done, he becomes a lame duck president. It was the absolutely the correct answer and the only reasonable answer.
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All-In [48078]
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Re: Biden is running again
Mar 26, 2021, 9:31 AM
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Exactly. What is he supposed to say? "No, I will be too old and I am barely going to pull this term off?" He needs to attempt to portray himself as strong and on it the best that he can.
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All-In [47750]
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Depends.
Mar 26, 2021, 9:25 AM
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The only thing Biden needs if he is running again
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All-In [34109]
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Replies: 17
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