President Biden thread

chare · Aug 1, 2022

26 minutes ago, emtb2rn said:

[...]

Anyway, here are 2 articles that explain why shoplifting has exploded during the pandemic which is why so many items are now locked up. Think resale….

https://www.forbes.com/sites/laurendebter/2022/04/02/stores-locking-things-up-rising-theft/?sh=5c329b5011ca

https://www.cnn.com/2022/07/30/business/drug-stores-locked-products/index.html

Both seem to be broken.

emtb2rn, BSN, RN, EMT-B · Aug 1, 2022

3 minutes ago, chare said:

Both seem to be broken.

Yeah, weird. Think I fixed them

https://www.forbes.com/sites/laurendebter/2022/04/02/stores-locking-things-up-rising-theft/?sh=2a771f211cae

https://www.cnn.com/2022/07/30/business/drug-stores-locked-products/index.html

Beerman, BSN · Aug 3, 2022

Biden's latest big lie....The Inflation Reduction Act.

"Now he’s doing it again. Democratic leaders have cut a deal with Sen. Joe Manchin III (D-W.VA.) on a $433 billion package of climate spending and tax increases disguised as the Inflation Reduction Act of 2022. The bill would not reduce inflation. The nonpartisan Penn-Wharton budget model estimates it would actually produce “a very small increase in inflation for the first few years, up to 0.05 percent points in 2024” (emphasis added) followed by “a 0.25 percentage point fall … by the late 2020s.” The effect either way, Penn-Wharton says, is “not statistically different than zero,” which means the legislation would not “have any impact on inflation.”

https://www.washingtonpost.com/opinions/2022/08/01/inflation-reduction-act-really-climate-spending/

toomuchbaloney · Aug 3, 2022

19 minutes ago, Beerman said:

Biden's latest big lie....The Inflation Reduction Act.

"Now he’s doing it again. Democratic leaders have cut a deal with Sen. Joe Manchin III (D-W.VA.) on a $433 billion package of climate spending and tax increases disguised as the Inflation Reduction Act of 2022. The bill would not reduce inflation. The nonpartisan Penn-Wharton budget model estimates it would actually produce “a very small increase in inflation for the first few years, up to 0.05 percent points in 2024” (emphasis added) followed by “a 0.25 percentage point fall … by the late 2020s.” The effect either way, Penn-Wharton says, is “not statistically different than zero,” which means the legislation would not “have any impact on inflation.”

https://www.washingtonpost.com/opinions/2022/08/01/inflation-reduction-act-really-climate-spending/

Yes, that's typical of Theissan's opinion of all things liberal or Biden. Do you think this "lie" is as sinister or damaging as the presidential lies about covid in 2020?

Beerman, BSN · Aug 3, 2022

1 hour ago, Beerman said:

Biden's latest big lie....The Inflation Reduction Act.

"Now he’s doing it again. Democratic leaders have cut a deal with Sen. Joe Manchin III (D-W.VA.) on a $433 billion package of climate spending and tax increases disguised as the Inflation Reduction Act of 2022. The bill would not reduce inflation. The nonpartisan Penn-Wharton budget model estimates it would actually produce “a very small increase in inflation for the first few years, up to 0.05 percent points in 2024” (emphasis added) followed by “a 0.25 percentage point fall … by the late 2020s.” The effect either way, Penn-Wharton says, is “not statistically different than zero,” which means the legislation would not “have any impact on inflation.”

https://www.washingtonpost.com/opinions/2022/08/01/inflation-reduction-act-really-climate-spending/

Biden claimed this legislation wouldn't raise taxes on those who earn less than 400k.

"The Congressional Joint Committee on Taxation found that taxes would jump by $16.7 billion on American taxpayers making less than $200,000 in 2023 and raise another $14.1 billion on taxpayers who make between $200,000 and $500,000.

During the 10-year window, the average tax rate would go up for most income categories, the Senate GOP said, citing the data from the joint committee. And by 2031, new energy credits and subsidies would have people earning less than $400,000 pay as much as two-thirds of the additional tax revenue collected that year, the release said."

https://nypost.com/2022/07/31/senate-gop-argues-data-shows-schumer-manchin-deal-raises-taxes-on-earners-under-400k/

toomuchbaloney · Aug 3, 2022

2 minutes ago, Beerman said:

Biden claimed this legislation wouldn't raise taxes on those who earn less than 400k.

"The Congressional Joint Committee on Taxation found that taxes would jump by $16.7 billion on American taxpayers making less than $200,000 in 2023 and raise another $14.1 billion on taxpayers who make between $200,000 and $500,000.

During the 10-year window, the average tax rate would go up for most income categories, the Senate GOP said, citing the data from the joint committee. And by 2031, new energy credits and subsidies would have people earning less than $400,000 pay as much as two-thirds of the additional tax revenue collected that year, the release said."

https://nypost.com/2022/07/31/senate-gop-argues-data-shows-schumer-manchin-deal-raises-taxes-on-earners-under-400k/

That link to the "data" was a nice partisan touch... it mostly circles back to the same GOP opinions from Mr Crapo... how much does he think that middleclass workers make per year?

emtb2rn, BSN, RN, EMT-B · Aug 3, 2022

46 minutes ago, Beerman said:

Biden claimed this legislation wouldn't raise taxes on those who earn less than 400k.

"The Congressional Joint Committee on Taxation found that taxes would jump by $16.7 billion on American taxpayers making less than $200,000 in 2023 and raise another $14.1 billion on taxpayers who make between $200,000 and $500,000.

During the 10-year window, the average tax rate would go up for most income categories, the Senate GOP said, citing the data from the joint committee. And by 2031, new energy credits and subsidies would have people earning less than $400,000 pay as much as two-thirds of the additional tax revenue collected that year, the release said."

https://nypost.com/2022/07/31/senate-gop-argues-data-shows-schumer-manchin-deal-raises-taxes-on-earners-under-400k/

It appears that the analysis the gop drew from the jct report is misleading.

“The argument that the CMT increases taxes on low- and middle-income households assumes that an increase in corporate taxes affects not only the shareholders of the corporation but also workers’ wages. Economic models assume that most of the benefits of any corporate tax cuts and most of the cost of corporate increases fall on the owners of capital—in other words, the shareholders. A small fraction will pass through to workers based on their share of labor income, which is skewed to high earners such as CEOs and high-wage professionals.

Yet recent history suggests that any impact will be minimal. That’s because the revenues raised by the proposed CMT are insignificant compared with the overall size of the U.S. economy—just 0.2 percent of gross domestic product (GDP) in FY 2023—while wages are set in the larger economy. Take, for example, the 2017 Tax Cuts and Jobs Act: Supporters argued that benefits would “trickle up” to workers and consumers, yet research shows that the measure overwhelmingly benefited shareholders, with no measurable impact on wages or investment.

Moreover, the JCT analysis specifically excludes the impact of many parts of the IRA that would benefit middle-income families—specifically, the legislation’s measures to lower prescription drug costs (Subtitle B) and extend provisions that make health coverage more affordable (Subtitle C), as well as some parts of the bill that make clean energy more available and affordable (Subtitle D). In other words, the analysis ignores the impact of most of the the provisions that directly benefit consumers.”

https://www.americanprogress.org/article/the-inflation-reduction-act-would-only-raise-taxes-from-wall-street-and-big-corporations/

Beerman, BSN · Aug 4, 2022

12 hours ago, emtb2rn said:

It appears that the analysis the gop drew from the jct report is misleading.

“The argument that the CMT increases taxes on low- and middle-income households assumes that an increase in corporate taxes affects not only the shareholders of the corporation but also workers’ wages. Economic models assume that most of the benefits of any corporate tax cuts and most of the cost of corporate increases fall on the owners of capital—in other words, the shareholders. A small fraction will pass through to workers based on their share of labor income, which is skewed to high earners such as CEOs and high-wage professionals.

Yet recent history suggests that any impact will be minimal. That’s because the revenues raised by the proposed CMT are insignificant compared with the overall size of the U.S. economy—just 0.2 percent of gross domestic product (GDP) in FY 2023—while wages are set in the larger economy. Take, for example, the 2017 Tax Cuts and Jobs Act: Supporters argued that benefits would “trickle up” to workers and consumers, yet research shows that the measure overwhelmingly benefited shareholders, with no measurable impact on wages or investment.

Moreover, the JCT analysis specifically excludes the impact of many parts of the IRA that would benefit middle-income families—specifically, the legislation’s measures to lower prescription drug costs (Subtitle B) and extend provisions that make health coverage more affordable (Subtitle C), as well as some parts of the bill that make clean energy more available and affordable (Subtitle D). In other words, the analysis ignores the impact of most of the the provisions that directly benefit consumers.”

https://www.americanprogress.org/article/the-inflation-reduction-act-would-only-raise-taxes-from-wall-street-and-big-corporations/

This is a differing opinion, not a factual article.

In the first paragraph, the opinion states that the JCT report is "misleading and incomplete". Jean-Pierre's exact words, yesterday. Hmm.

The JCT is bipartisan, composed of not just a handful of Senate and House members, but a large staff of professional economists. The Chief of Staff has been there for over 30 years. The WH was singing it's praises when Biden's infrastructure bill was in the spotlight. Now all of a sudden they are putting out a misleading and incomplete analysis?

We know that most of the bill is clean-energy,and increase corporate taxes, not inflation focused.

At the same time, Manchin, for his vote, received some favors to the fossil-fuel industry.

The bill title is misleading.

The current administration has been wrong and/or lied about almost everything. Especially anything to do with the economy. Remember when inflation was "transitory"?

The American people realize this, as evidenced by poll after poll.

You go ahead and believe them, if you wish. Most of us aren't buying it.

toomuchbaloney · Aug 4, 2022

"Most of us"...

It's a bold statement to say that Biden has lied about almost everything.

emtb2rn, BSN, RN, EMT-B · Aug 4, 2022

Beerman, I was talking about how the gop spun the jct report. And the same terms were used by the wh spokesperson, so what? Seeing the deep state?

Beerman, BSN · Aug 11, 2022

What a moron.

"I just want to say a number: zero,” Biden said in the White House East Room before signing legislation granting greater medical and disability benefits to veterans suffering illnesses linked to inhaling toxic smoke.

“Today, we received news that our economy had 0% inflation in the month of July — 0%,” Biden said. “Here’s what that means: while the price of some things go up — went up last month, the price of other things went down by the same amount. The result? Zero inflation last month."

https://nypost.com/2022/08/10/biden-wh-claims-us-has-zero-inflation-despite-high-rate/

MunoRN, RN · Aug 11, 2022

27 minutes ago, Beerman said:

What a moron.

"I just want to say a number: zero,” Biden said in the White House East Room before signing legislation granting greater medical and disability benefits to veterans suffering illnesses linked to inhaling toxic smoke.

“Today, we received news that our economy had 0% inflation in the month of July — 0%,” Biden said. “Here’s what that means: while the price of some things go up — went up last month, the price of other things went down by the same amount. The result? Zero inflation last month."

https://nypost.com/2022/08/10/biden-wh-claims-us-has-zero-inflation-despite-high-rate/

As your article points out, the annual inflation rate dropped to 8.5%, this is correct. Biden pointed out that the inflation rate change for the month of July was zero, which is also correct. Those are two different things.