Sanders creates new headache for Biden on taxes

[DonViejo]

BY NIV ELIS - 03/26/21 06:00 AM EDT

Senate Budget Committee Chairman Bernie Sanders (I-Vt.) is pushing a more aggressive approach to taxing companies and wealthy families, creating a new problem for President Biden.

New proposals from Sanders go well beyond the revenue-raising measures Biden proposed in his campaign, which already would not completely pay for the $3 trillion package he is reportedly considering to rebuild the nation’s infrastructure.

In one piece of legislation unveiled Thursday, Sanders proposed raising the corporate tax rate from 21 percent to 35 percent, well above the 28 percent level Biden has proposed, and adding stricter measures than Biden proposed for taxing offshore profits.

A second bill would put in a more stringent estate tax, lowering the threshold for when an estate would be hit with the tax from $11 million to $3.5 million for single people and from $22 million to $7 million for couples. He’d also raise the tax rate to as much as 65 percent for estates over $1 billion.

more
https://thehill.com/policy/finance/545021-sanders-creates-new-headache-for-biden-on-taxes

[MrsCoffee]

1. Hey Everybody, Look At Me!

[Hortensis]

13. Yes, but fine to push for more as long as he doesn't knock over the big bucket.

On passage of the American Rescue Plan, my attention was grabbed by a couple of talking heads who felt some relief or congratulations were in order that Sanders hadn't endangered its passage. Apparently that'd been among their speculations about problems that could occur. Biden and the leadership aimed very high, though, and got almost all they wanted. The only big loss was a MW increase because Sanders' principles wouldn't allow less than $15, but we'll do that someday.

So, let's hope for a similarly successful outcome this time. Biden and our congressional leaders are shooting for the sky in this giant, enormously important bill, so maybe his aspirations will feed the synergy. It's likely he'll be able to be credited with something he cares about; he is chair of the budget committee and an important member of the team, after all.

In any case, this is the biggest thing he'll ever be involved with, so going so far as to endanger major provisions or passage because his principles required taxpayer-subsidized 4-year college instead of 2-year, or some such thing, will hopefully also be out of the question for him. We could lose something like free 2-year if it came to that, add it later.

[NurseJackie]

39. Indeed.

[Elessar Zappa]

2. Hmmm..

Maybe if we start with the higher rates, we can negotiate down to Biden's desired rates?

[GPV]

5. Indeed.

[Tom Rinaldo]

6. Yep. It is how legislatures work. Proposals are advanced...

the degree of support each has gets gauged, negotiations take place in private and in public, votes are lined up etc.

Personally I favor the approach Sanders is pushing for, and the fact that he is pushing for it potentially gives Biden some political cover to move in that direction, since everyone knows he can't enact his agenda without the support of the Progressive Caucus in Congress.

This is in a preliminary stage. Our president is skilled at what he does and he understands competing priorities within the Democratic caucus, and his team will hammer out something that works. Sanders is a pro at what he does also, and he and Biden have a good personal rapport. I would be angry if Sanders or any other Democratic caucus member caused a major Biden legislative push to fail, but i don't expect that to happen here.

[MuseRider]

10. I wish we had like buttons

because I have little else to say but that I agree with you. It is a smart move. It would be entirely possible that this is actually a plan that Sanders and Biden worked out. Bernie is there for a reason. I have never seen Biden as left as Sanders but he has said he appreciates Sanders and they work well together and Sanders appears to feel the same way. Bernie knows we have to move these things along quickly and establish some comfort for those who are hurting the most. Biden knows that Sanders will get it set up and done if at all possible. Nothing will change some of the locked in Trumpers but those who will appreciate a more comfortable life will certainly look at the next race in a different way.

[lagomorph777]

22. Good cop / bad cop

Yup!

[comradebillyboy]

3. Can Bernie round up the votes for his tax increase?

I doubt it very much. He's never been an effective legislator.

[NurseJackie]

40. Many people have observed the same thing.

[Kahuna]

54. Grandstanding and gaslighting. nt

[Autumn]

4. Not taxing companies and wealthy families has long created a problem for the American people. nt

[CentralMass]

7. +1

[leftstreet]

11. +1

[Demsrule86]

12. If you can't get the votes, it doesn't matter so why make problems and delay things?

We do not have a liberal Senate and not just because of Manchin or Sinema either...when progressives can win more Senate seats, then we will be able to act on some of Sander's worthy legislation, but this is not the time. We get what we can and go back when the time is right.

[Autumn]

17. No one will ever get the votes if it's not tried for Look how many votes can be gotten

when it comes to tax breaks for the wealthy and corporations. I will no longer accept that "get what we can and go back when the time is right" bullshit. That time never seems to come. No more fucking excuses.

[Ohio Joe]

79. Agreed...

And well said

[George II]

30. Exactly. Where did these bills come from, were they discussed with other Senators of House members?

Is there any widespread support for any of these?

I'll wait until these are posted on the Senate website to see if there are any co-sponsors.

[NurseJackie]

41. Lulz.

[comradebillyboy]

45. You might have a long wait...

[Greybnk48]

16. +1.

Bernie's right.

[Sibelius Fan]

8. I totally agree with lowering the threshold for the estate tax.

$22 million? JFTDC! What a slap in the face to 99% of the country.

[Wounded Bear]

9. I believe raising taxes has to start in the House...

Bernie is just stating a starting point for negotiations. Hell, might as well aim high.

[inwiththenew]

14. Raising taxes to cover new spending? What is this madness?

It's funny how that has become an almost radical idea in Washington now.

[Me.]

15. Just What PJB Needs

what is going on with Dems issuing threats about votes, causing more problems for him when the plate is already overloaded? Give him a break already.

[Autumn]

18. I think it's time "we the people" are given a break. Joe and Bernie are the ones to get it for us.

No one else will.

[Me.]

21. Joe Certainly Will, In His Time

and on his agenda. Everyone else needs to lay off and give him a chance to do what he says he will.

[Autumn]

23. You can lay off all you want. Some of us will keep at it till we get done what is needed done. nt

[Me.]

28. No ONe Is Laying Off Anything

and that insinuation is nonsense. I for one trust Joe to deliver what he said he will in a smart and timely fashion. He won't grandstand or showboat, he will just do it and it would be nice if his fellow Dems would let our president lead without trying to push him when he has only been in office just over 2 months.

[Autumn]

33. Insinuation ? No, your own words. Feel free to do so, I will keep at it.

Everyone else needs to lay off and give him a chance to do what he says he will.

We have waited long enough for someone to do what must be done

[Me.]

34. I Will, I Will Keep Supporting My President

and that is who will get things done and no one else

[sheshe2]

55. +++

[Me.]

56. Heya

Nice to see you...

[sheshe2]

59. Back at ya, Me.

[George II]

27. Hey, he's been President now for 65 days, what's he been doing? "We want it all....

....and we want it NOW"

[Me.]

29. Honestly

those who would be aren't and he is so let's support him.

[George II]

31. This is starting to look like 2009 all over again.

[Me.]

32. I Know

Look, PJB wasn't my choice during the primary but he has been impressive and I am so glad he's doing the presidency in a way no one expected. I watched him yesterday and it was like he has no more Fs to give for the DC nonsense and the games the press and the Cons are playing.

[Autumn]

35. Said no one ever George. I happen to think the people I vote for can do a lot more

that one thing at a time.

[NurseJackie]

42. That's not a very realistic or mature way of looking at things.

It's much the same as the "all or nothing" philosophy where people are giddy at "standing their ground" yet coming away with nothing.

[George II]

25. Joe Biden is the one who was elected President.

[Autumn]

26. By the people. So what's your point George?

[Autumn]

19. I think it's time "we the people" are given a break. Joe and Bernie are the ones to get it for us.

No one else will.

[NurseJackie]

43. It's the Biden Administration. Not the Bernie-light administration... Joe Biden is calling the shots.

[Autumn]

46. Hey Jackie. No one EVER fucking said it was the Bernie-light administration. But you can bet

Bernie will work with Joe for the good of the American people. Unlike some others that are fancied.

You know how politics work amirite? You want the man atop the Powerful Budget Committee to shut the fuck up and sit down? Not going to happen. Democrats have waited for this. I think the most wonderful thing ever to is that I lived long enough to see every fucking Republicans worst nightmare come true. A socialist {{{{GASP OMG}}}} in charge of the Chair of the Senate Budget Committee

Here, just for you.

The long-held Republican nightmare that a champion of working-class people and the common good — one who has dedicated his political career to curbing poverty and injustice while denouncing corporate greed, endless war, and the cruelty of a for-profit health system that leaves millions upon millions uninsured or without affordable access to care — would assume the powerful position of chairing the Senate Budget Committee is about to become reality.

“Time to face the harsh reality, socialist Bernie Sanders will become the chairman of the Senate Budget Committee. He has vowed to use his position to enact his progressive agenda on healthcare, climate, infrastructure spending, and cutting defense spending,” Nikki Haley tweeted Saturday.

While it came from Trump’s former U.S. ambassador to the United Nations as a kind of ominous warning, Sanders’ wife, Jane O’Meara Sanders, was among those who shot back with a clever and simple quip. “Yes he has,” she tweeted in response.
“You forgot to mention raising the minimum wage and taxing your rich friends,” the organizing group People for Bernie tweeted back at Haley.

Republican fears of Sanders taking over the committee go back to at least 2016 when Congressman Paul Ryan of Wisconsin, then Speaker of the GOP-controlled House, said ahead of that year’s election: “If we lose the Senate, do you know who becomes chair of the Senate Budget Committee? A guy named Bernie Sanders. You ever heard of him?”

https://truthout.org/articles/bernie-sanders-is-about-to-become-the-chair-of-the-senate-budget-committee/



Can you just imagine what a sad small asshole one is to complain about a progressive agenda on healthcare, climate, infrastructure spending, & cutting defense spending? Oh, no imagination needed. Here's one.

Link to tweet

[NurseJackie]

51. Lulz! It's still the Biden Administration and Joe is calling the shots.

Bernie will work with Joe for the good of the American people.

Lulz! It's still the Biden Administration and Joe is calling the shots. He'll do exactly what Joe and Chuck want him to do. I'd expect no less.

Unlike some others that are fancied.

What are you talking about? Or who are you talking about?

Can you just imagine what a sad small asshole one is to complain about a progressive agenda on healthcare, climate, infrastructure spending, & cutting defense spending?

You mean, Joe Biden's agenda? Don't forget, this is the Biden Administration... his and his alone.

[Autumn]

52. Lulz at you Jackie. Bernie Sanders is chairing the Senate Budget Committee, not changing that

Bernie Sanders is in a very powerful position. WHOMP WHOMP

[sheshe2]

58. Being President of these United States....

Being President of these United States is a Very Powerful Position. So powerful that he is actually a world leader.

[NurseJackie]

66. You're correct. And it serves no good purpose for anyone to try and diminish his power or position.

This is the BIDEN ADMINISTRATION... he's the one in charge. Nobody else.


Joe/Kamala or Biden/Harris 2020!!
They're stronger together & can't be bought!!
Jump on the Biden Bandwagon & let's take back America!!

[sheshe2]

70. Yes it is the Biden Admin.

He also chose his second in command, Kamala Harris who is one of his closest advisors. They work well together and we are only 65 days in.

[NurseJackie]

60. It's the Biden Administration.

Bernie Sanders is in a very powerful position.

He ain't as powerful as you may be imagining. This is, after all, the BIDEN Administration. He's the one in charge.

WHOMP WHOMP

Lulz (again).

The Budget Committee should not be confused with the Finance Committee and the Appropriations Committee, both of which have different jurisdictions: The Finance Committee is analogous to the Ways and Means Committee in the House of Representatives; it has legislative jurisdiction in the areas of taxes, Social Security, Medicare, Medicaid and some other entitlements. The Appropriations Committee has legislative jurisdiction over appropriations bills, which provide funding for government programs.

While the budget resolution prepared by the Budget Committee sets out a broad blueprint for the Congress with respect to the total levels of revenues and spending for the government as a whole, these other Committees prepare bills for specific tax and spending policies.

Womp-womp... or something.

[Autumn]

64. Lulz (again).

or something.

[George II]

48. Exactly. Biden is the President, no one else.

[Autumn]

57. George you are still the master of the obvious. Exactly. Biden is the President, no one else.

No one is pretending he isn't. That would be almost as silly as saying our President Biden is the Chairman of the Senate Budget Committee.

[George II]

61. I don't see what's so funny, but whatever....

Everyone knows that President Biden isn't the Chairman of the Senate Budget Committee, but hopefully we all know that President Biden first proposes the Federal Budget and ultimately signs the final Federal Budget into law. No one else.

No single person proposes or establishes the budget nor is it established by either house alone. It's a collaborative effort of the President, Budget Committees of both Houses, the Congressional Budget Office, and several other Congressional committees. I'm sure dozens if not hundreds of people are involved in establishing the final document that goes to the President for his signature or veto.

The Chairs of the respective committees don't determine the provisions of the budget, but facilitate the committees' reviews and revisions of President's budget.

An interesting wikipedia page on the budget process:

https://en.wikipedia.org/wiki/United_States_budget_process#Authorization_bills

[NurseJackie]

65. You mean the Chairman isn't in charge of everything and doesn't have the sweeping power...

No single person proposes or establishes the budget nor is it established by either house alone.

You mean the Chairman isn't in charge of everything and doesn't have the sweeping power and authority that some seem to think.

Glad to know that this is still the Biden Administration and that JOE is the one calling the shots.

"Womp-womp" or something.

[George II]

67. Nope. There's more to it than this, but Chairs of Committees are basically traffic cops. They....

...facilitate the operation of the Committee and make sure it follows the charter/authority of the Committee, establish it's hearing agendas, and schedule.

As far as the Budget Committees are concerned (there are two of them), they review and revise the Budget as presented by the President, in this case JOE.

They don't even decide how the money in the budget is spent, that's the job of the two Appropriations Committees. In fact, the Chair of the Senate Budget Committee isn't even a member of the Senate Budget Committee.

[NurseJackie]

71. That's good to know! I think some here are confused.

I hope your detailed information helps others to understand.

Good work, George II.

[Autumn]

74. I'm sure you don't see what's funny George. Oh well, maybe next time.

[JT45242]

20. As a starting point to negotiate all these seem reasonable to me

As long as Sanders and the others at the left edge of the party are willing to find some middle ground, then this is all good. If they sabotage the attempts because the compromise is not progressive enough we will have serious problems.

There are a lot of common sense solutions...

1. Eliminate the cap on social security and medicare which funds both of these completely
2. Lower the estate tax to a reasonable number -- whether it is the top 5%, 1%, half a percent -- I don't care -- if it has a graduated tax scale on the way up. No problem. This allows us to put the QOP Senators on the record. Senator Ernst -- what do you consider a small farm? What is it worth? -- the average farm has about 450 acres (rounding up) at $3200 per acre which is about $1.4 million add in equipment and you could get up to about 1.7 million for the average. So, at 3.5 million you have to have more than double the average farm. So, let's stop claiming that you are protecting the small farmer or small business, you are protecting megadonors.
3. Close the offshore company headquarter loophole. What that tax rate becomes is negotiable
4. Completely undo the Trump tax cut -- all of it goes away
5. Add in a wealth tax of 2 percent over 300 million

you go a long way to being able to pay for better education, infrastructure, universal health care

[Voltaire2]

68. No no no. You start from your minimal

acceptable position and work down from there.

[George II]

24. Why does he propose bills that he knows will not even get out of the Budget Committee, much less....

...get passed?

Neither one of those will have the support of Democrats, much less republicans.

[NurseJackie]

73. Oooo! Oooo! Ooh! Ooh! Ooh!

[Celerity]

36. aim high and negotiate down if need be nt

[Politicub]

37. The Hill is being divisive. Biden and Sanders have an excellent

working relationship of mutual respect.

It has been great to see in action.

[Blasphemer]

38. Not a Sanders fan but this is hardly a "headache". More like sound tax policy...

Even if more aggressive than Biden's proposals. He's trying to pull Biden further to the left, that's completely fair.

[Cal Carpenter]

44. The headlines and framing on stuff like this drives me fucking crazy

Why don't they focus on the actual policies and their impacts rather than the political ball being tossed?

Oh, because that wouldn't get as many clicks.

FFS.

[Caliman73]

47. I don't think it creates a headache.

If Sanders can get the votes in the Senate (which I doubt) then voila, no headache. If he can't then his legislation is a moot point and they can go with Biden's original ask.

This is only a headache for people who think that legislation is a once in a lifetime thing and that there is never negotiations in politics. It is only an issue for people who have pre-existing animosity for either politician. It is only news for people who want to create a narrative of conflict and discord.

[George II]

49. I wonder if Sanders even spoke to Biden before doing this.

[SMC22307]

50. DU falling for a click-bait The Hill headline...

[Hassin Bin Sober]

62. Just the usuals.

[Hassin Bin Sober]

63. Just the usuals

[Nixie]

69. The usuals upset about losing two elections?

The usuals.

[NurseJackie]

72. Ha!

[betsuni]

77. ...

[SMC22307]

78. You mean Biden in 1988 and again in 2008?

Third time's the charm, eh?

[sheshe2]

80. Oh, Snap!

[SMC22307]

76. Yep. (n/t)

[WarGamer]

53. Bottom line... there are BILLS TO PAY

And we know WHO has the money and WHO got richer during the pandemic that made the rest of the population POORER.

Take it.

Every single other civilized nation is preparing post-C19 taxes, wealth taxes, income taxes, investment taxes and VAT's to pay the bills...

[Luciferous]

75. Well the money has to come from somewhere, and better wealthy people and corporations than

the middle class.