What's in Biden's landmark climate & healthcare bill?

[Jarod]

Booming housing market? New home starts are way down and in many markets the number of offers and prices on homes have dropped. That’s not to say the housing market is falling apart, it’s not. But with higher interest rates etc it’s not booming.

It’s booming in Florida

[Celticguy]

No, we don't. Inflation above 9% is never good, Jimmy Carter proved that one. We need recovery where inflation doesn't steal the real wages of those in the poorest jobs.

There may be a temporary bump because they see you waving your arms now and think you are alive, but when they realize they are poorer than ever there will be a red wave like none you have seen since Reagan's second term. Again, you get to pretend that things are going great, but the real world is still happening. If you really believe that 10% inflation is "great" because everybody has more than one job you must be a democrat. Everyone else knows that it sucks.

its interesting that no one is wondering why the Household numbers are so different from the govt manipulated payroll ones. and, of course, the payroll numbers always get adjusted well after the fact when nobody cares.

gather ye rosebuds while ye may....

[Gondwanaland]

What's in Biden's big climate and health bill?

Hundreds of billions of dollars for clean energy projects, cheaper prescription drugs and new corporate taxes are a few of the key items in US President Joe Biden's massive investment plan, which the Senate will begin debating on Saturday.

Here's a closer look at the signature elements of the plan, which could offer the Democratic leader a big political win heading into November's crucial midterm elections.

--$370 billion for clean energy, climate--
If the legislation is passed, it will mark the biggest investment in US history in the fight against climate change.

Rather than attempting to punish the biggest polluters in corporate America, the bill put forward by Biden's party instead proposes a series of financial incentives aimed at steering the world's biggest economy away from fossil fuels.

Tax credits would be given to producers and consumers of wind, solar and nuclear power.

If passed, the legislation would allot up to $7,500 in tax credits to every American who buys an electric vehicle. Anyone installing solar panels on their roof would see 30 percent of the cost subsidized.

Around $60 billion would be allocated for clean energy manufacturing, from wind turbines to the processing of minerals needed for electric car batteries.

The same amount would go towards programs to help drive investment in underprivileged communities, notably through grants for home renovation to improve energy efficiency and access to less polluting modes of transportation.

Huge investments would go into making forests less susceptible to wildfires and protect coastal areas from erosion caused by devastating hurricanes.

The bill aims to help the United States reduce its carbon emissions by 40 percent by 2030, as compared with 2005 levels.

--$64 billion for health care--
The second major aspect of the legislation is to help reduce the huge disparities in access to health care across the United States, notably by reining in skyrocketing prescription drug prices.

If the draft eventually becomes law, Medicare -- the nation's health insurance plan for those aged 65 and older, or with modest incomes -- could be permitted to negotiate prices of certain medications directly with Big Pharma for the first time, likely yielding far better deals.

The plan would require pharmaceutical companies to offer rebates on certain drugs if the prices rise faster than soaring US inflation.

It also would extend benefits under Barack Obama's signature Affordable Care Act -- known colloquially as Obamacare -- until 2025.

--Minimum corporate tax of 15%--
Alongside these huge investments, the so-called Inflation Reduction Act would seek to pare down the federal deficit through the adoption of a minimum corporate tax of 15 percent for all companies with profits exceeding one billion dollars.

The new tax seeks to prevent certain huge firms from using tax havens to pay far less than what they theoretically owe.

According to estimates, the measure could generate more than $258 billion in tax revenue for US government coffers over the next 10 years.

U.S. Senator Chuck Grassley (R-IA) Friday afternoon posted an angry tweet complaining he will be missing his annual family reunion this weekend after Democratic Majority Leader Chuck Schumer scheduled a vote on the Inflation Reduction Act, major, historic legislation to combat inflation and climate change, lower Medicare prescription drug prices and the federal deficit, and increase the energy supply.


https://www.rawstory.com/what-s-in-b...ll-2657818066/

Interesting, they didn't mention the 3.1% more in taxes that those making under 10k a year will experience or the 1.1% more in taxes that those making 20-30k will experience.

[evince]

In 2023, the year in which the legislation would increase tax revenue most, individuals making less than $10,000 per year would pay 3.1% more in taxes and those making between $20,000-30,000 per year would see a 1.1% tax increase, the JCT analysis showed. Tax revenue collected from those making $100,000 per year or less would increase by $5.8 billion in 2023 under the Inflation Reduction Act



This is what fox says is in the report



I don’t trust them



Get a respectable source

[Celticguy]

Thanks to Republicans running some really poor candidates we will be lucky to win the Senate.

Must have a lot of rich people on JPP with the way so many try to downplay inflation and it’s economic costs on people.

the faithful parrot the party line fully aware that the data do not support it.
its a little like trying to make sure the gator eats you last...

[evince]

What data asshole?



Fuck what fox says

[Celticguy]

It’s booming in Florida

whats the average cost of your boomtown homes ?

oh, and by the way...

June’s Single-Family Housing Starts Drop 8.1%

https://www.floridarealtors.org/news...starts-drop-81

[evince]

Prove the fox article is not lying assholes



Fox lied your dumb asses to war in Iraq you stupid fucking dupes



They told you the economy was fine for most of 2008

You bought that lie too

[cawacko]

It’s booming in Florida

A lot of people moving to Florida so that’s good for the market but plenty of articles being written that even Florida is seeing what I wrote about, less offers and some drops in pricing.

[Jarod]

besides higher taxes and inflation ?
job losses and higher prices to pay business taxes (unless you are a Wall Street fat cat)
more green pork
more IRS auditors (80k+ they're coming after you small businesses)
and, of course, more debt (after 3 years when they extend the spending part)

if you dont like the current inflation, wait till you see it pumped up with this !

I am honest w my taxes so Who cares if the IRS comes after me, I’m squeaky clean.

[evince]

Florida is now the most expensive state to live in

[evince]

I am honest w my taxes so Who cares if the IRS comes after me, I’m squeaky clean.

Ah the sleep of an honest human



It’s worth it

[Jarod]

A lot of people moving to Florida so that’s good for the market but plenty of articles being written that even Florida is seeing what I wrote about, less offers and some drops in pricing.

It’s slowing for sure, but still very strong

[Jarod]

I have been hearing for the last 20 months that Biden has us on the cusp of a deep recession.

I heard it for 8 years about Obama.

[evince]

Slowing it helps decrease inflation



Republicans scream for that and then complain when it’s done effectively