Democrats pass huge tax increase

T. A. Gardner said:
I'm wondering how many corporations will re-headquarter somewhere they won't be forced to fork over 15% of their profits automatically regardless of any other circumstances or deductions...
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if the diaspora to the Caymons last century is any indication, quite a lot.

as interesting will be how many flee Delaware known for its friendly tax situation.
 
I find it hilarious that the radical Lefties here won't defend their own when they pass totally fucked up legislation and assfuck Americans in the process. It's as if they are addicted to economic porn and snuff videos...
 
T. A. Gardner said:
Yep, on a strictly party-line vote, the Democrats just passed another nearly trillion in new spending with tax increases on businesses and individuals. The Inflation Expansion Act now goes to Joke to be unleashed on the US people and economy.

https://www.msn.com/en-us/news/poli...pc=U531&cvid=f086206c72cd4709bedb43ef57588ad0
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You have it twisted at being possibly dyslexic. Now read it all up and avoid being a fact free idiot:

The Senate yesterday passed tax, climate and healthcare legislation called the Inflation Reduction Act (IRA2022) along party lines, with Vice President Kamala Harris casting a tie-breaking vote. The House, which allows proxy voting, is expected to vote to approve IRA2022 on Friday and is not expected to make any changes. President Joe Biden is expected to sign the bill soon thereafter.

IRA2022 is part of President Biden’s previously announced economic agenda. It raises over $700 billion in revenue, including more than $300 billion from new types of corporate taxes and approximately $25 billion from reinstating long-expired Superfund taxes on crude oil and petroleum products, and it spends over $400 billion on climate initiatives and healthcare. IRA2022 includes billions in tax credits for climate and clean-energy initiatives, directs Medicare to negotiate certain drug prices, extends Affordable Care Act premium subsidies, caps Medicare Part D out-of-pocket expenses for seniors at $2,000, and caps insulin costs for Medicare beneficiaries."
https://www.bakerlaw.com/alerts/inflation-reduction-act-expected-to-become-law
 
gemini104104 said:
You have it twisted at being possibly dyslexic. Now read it all up and avoid being a fact free idiot:

The Senate yesterday passed tax, climate and healthcare legislation called the Inflation Reduction Act (IRA2022) along party lines, with Vice President Kamala Harris casting a tie-breaking vote. The House, which allows proxy voting, is expected to vote to approve IRA2022 on Friday and is not expected to make any changes. President Joe Biden is expected to sign the bill soon thereafter.

IRA2022 is part of President Biden’s previously announced economic agenda. It raises over $700 billion in revenue, including more than $300 billion from new types of corporate taxes and approximately $25 billion from reinstating long-expired Superfund taxes on crude oil and petroleum products, and it spends over $400 billion on climate initiatives and healthcare. IRA2022 includes billions in tax credits for climate and clean-energy initiatives, directs Medicare to negotiate certain drug prices, extends Affordable Care Act premium subsidies, caps Medicare Part D out-of-pocket expenses for seniors at $2,000, and caps insulin costs for Medicare beneficiaries."
https://www.bakerlaw.com/alerts/inflation-reduction-act-expected-to-become-law
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Massive tax increase coupled with fiat money spending.

It also raises the cost of energy, so that will contribute to continued inflation.
 
gemini104104 said:
It raises over $700 billion in revenue, including more than $300 billion from new types of corporate taxes and approximately $25 billion from reinstating long-expired Superfund taxes on crude oil and petroleum products, and it spends over $400 billion on climate initiatives and healthcare.
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if you don't understand that those taxes are going to be passed on to the consumer, you're a moron of the highest caliber.
 
gemini104104 said:
You have it twisted at being possibly dyslexic. Now read it all up and avoid being a fact free idiot:

The Senate yesterday passed tax, climate and healthcare legislation called the Inflation Reduction Act (IRA2022) along party lines, with Vice President Kamala Harris casting a tie-breaking vote. The House, which allows proxy voting, is expected to vote to approve IRA2022 on Friday and is not expected to make any changes. President Joe Biden is expected to sign the bill soon thereafter.

IRA2022 is part of President Biden’s previously announced economic agenda. It raises over $700 billion in revenue, including more than $300 billion from new types of corporate taxes and approximately $25 billion from reinstating long-expired Superfund taxes on crude oil and petroleum products, and it spends over $400 billion on climate initiatives and healthcare. IRA2022 includes billions in tax credits for climate and clean-energy initiatives, directs Medicare to negotiate certain drug prices, extends Affordable Care Act premium subsidies, caps Medicare Part D out-of-pocket expenses for seniors at $2,000, and caps insulin costs for Medicare beneficiaries."
https://www.bakerlaw.com/alerts/inflation-reduction-act-expected-to-become-law
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In what way does that benefit your bottom line, dumbass? I'll tell you how: Negatively.
 
Celticguy said:
wonder how much longer this drives the recession?
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I'd say about 6 years. But I'm going by The Bible.

7 years of famine. In the end times.

Grr! Why could I not have been born earlier? No choice but to deal with it.

That bill is economical suicide.
 
Poor Richard Saunders said:
LOL.. it seems you don't know the meaning of the word "profits."
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If their profit margin declines due to higher taxes, they may well decide that it's better to go elsewhere and keep those profits rather than give them to the government. You assume that the corporation will simply be altruistic and willing to give away their earnings in taxes. That defies general human nature.
 
T. A. Gardner said:
If their profit margin declines due to higher taxes, they may well decide that it's better to go elsewhere and keep those profits rather than give them to the government. You assume that the corporation will simply be altruistic and willing to give away their earnings in taxes. That defies general human nature.
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You keep making that argument that is ridiculous if you bothered to actually read the law.
https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_of_2022.pdf
 
floridafan said:
Its obvious that no one ever taught you about economics.
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pfffft, ok genius, educate us all on how corporations and energy companies are going to inform their shareholders that their stock decreased in value because they didn't pass on those extra expenses to their consumers.

it's obvious you don't grasp economics.
 
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