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Mon Nov 22, 2021, 06:29 PM

 

Democrats are pushing tax breaks for the rich. They'll cry when voters punish them

https://www.theguardian.com/commentisfree/2021/nov/22/democrats-are-pushing-tax-breaks-for-the-rich-theyll-cry-when-voters-punish-them

The last time Democrats held the presidency and Congress, the party spent its first year in power enriching big banks that had cratered the economy and then letting public money subsidize the Wall Street bonuses of their campaign donors. The spectacle gave Republicans a political bailout in the 2010 midterms, allowing them to depict themselves as anti-establishment populists challenging an elitist government.

Twelve years later, history is rhyming. Democrats were vaulted into office on popular promises to tax the wealthy, but they are now generating national headlines about their proposal to provide new tax breaks narrowly targeted to enrich their affluent blue-state donors Ė just as a new survey shows nearly two thirds of Americans see the party as ďout of touch with the concerns of most people.Ē And now the Republican machine is gearing up to demagogue the issue in 2022.

The situation is like a storyline from Veep satirizing liberal elitism: As millions of voters are being crushed by health care costs and higher energy prices, and as Democratic lawmakers have abandoned a $15 minimum wage, Democratic leaders are pushing a regressive proposal to allow wealthy property owners to deduct more of their state and local taxes (SALT) from their federal taxes.

This initiative, which would provide almost no benefit to the working class, isnít some small tweak. After Democrats gutted their wildly popular initiatives to expand Medicare and lower drug prices, the tax initiative has now become one of the most expensive provisions in President Joe Bidenís entire Build Back Better legislation.

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I know the issue is complicated but much as cancelling student debt is a giveaway to high income white woman. This is a giveaway to property owners that made a lot of money in house equity over the last few years.

It truly is tax breaks for "paper" millionaires.

18 replies, 1504 views

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Arrow 18 replies Author Time Post
Reply Democrats are pushing tax breaks for the rich. They'll cry when voters punish them (Original post)
cinematicdiversions Nov 2021 OP
TheRealNorth Nov 2021 #1
questionseverything Nov 2021 #6
walkingman Nov 2021 #2
PortTack Nov 2021 #13
leftstreet Nov 2021 #3
OilemFirchen Nov 2021 #4
JohnSJ Nov 2021 #5
PortTack Nov 2021 #14
WHITT Nov 2021 #7
emulatorloo Nov 2021 #8
peggysue2 Nov 2021 #9
radius777 Nov 2021 #10
iemanja Nov 2021 #11
mcar Nov 2021 #12
sinkingfeeling Nov 2021 #15
RAB910 Nov 2021 #16
stopdiggin Nov 2021 #17
uponit7771 Nov 2021 #18

Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 06:36 PM

1. Removing the state tax deduction also hit upper middle class families as well....

But yeah, I would rather see Democrats push to close tax loopholes the extremely wealthy use.

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Response to TheRealNorth (Reply #1)

Mon Nov 22, 2021, 07:12 PM

6. I'm not sure which " middle class " families have 80 grand salt

Thatís the proposed new limit

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 06:37 PM

2. I think Dems are affected as much as Rethugs by this. Not sure that income

is a basis for criticism?

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Response to walkingman (Reply #2)

Mon Nov 22, 2021, 08:04 PM

13. Agree

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 06:40 PM

3. Why can't they offer something for everyone?

SALT and increased minimum wage/paid leave

SALT and Medicare For All

SALT and At Least Fucking Hearing Aids and Glasses for Seniors

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 06:55 PM

4. Fuck David Sirota.

Restoring SALT is popular among Democrats, and it's the right thing to do.

Is there really no Republican policy Sirota can find the time to vent about?

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 07:06 PM

5. Sorry, but what David Sirota, Brihana Joy Gray, Nina Turner did to undermine Hillary Clinton in the

2016 General Election, by encouraging people not to vote for Hillary against trump, they can take their opinions and stick them where the sun donít shine

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Response to JohnSJ (Reply #5)

Mon Nov 22, 2021, 08:04 PM

14. Right there with ya!

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 07:22 PM

7. Bullshit

A firefighter and a teacher couple in Cali, NY, NJ, etc, can easily hit the threshold.

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 07:26 PM

8. Wouldn't believe Sirota if his tongue came notarized.

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Response to emulatorloo (Reply #8)

Mon Nov 22, 2021, 07:29 PM

9. Ditto!

Nothing more.

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 07:33 PM

10. Restoring the SALT and canceling student debt are winners

for the Dem party, which is a metrocentric party that draws most of its votes from urban and suburban areas, where property (and the overall cost of living) is expensive and taxes are high. Without such voters, Dems cannot win any election.

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 07:50 PM

11. There should be a lower limit on SALT

higher than the current $10k but lower than $80k.

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 07:55 PM

12. Sirota?

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 08:10 PM

15. Really? Like the voters punished the GQP after their $trillions in tax cuts for the rich?

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 08:28 PM

16. FUCK this right wing bullshit

the anti-American GOP scum double-taxed people in blue states just to screw them over. Worse the scum that did that are from moocher red states

Now evil people are pushing this appalling LIE about tax cuts for the rich

fuck them all!!!!!

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 08:50 PM

17. I had to read this twice

First time I thought it was surely a mistake. Here's a couple that caught my attention.

- this initiative, which would provide almost no benefit to the working class ...

- but, much as cancelling student debt is a giveaway to high income white woman ...

So - no working class people in the suburbs any more? I think that is a rather - singular - point of view. And this kind of screed really isn't furthering our cause very much either.

(I guess everyone is entitled to their point of view. I'm prone to disagree with this one.)

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Response to cinematicdiversions (Original post)

Mon Nov 22, 2021, 08:52 PM

18. REALLY ?! Sirota ?! What about Tucker Carlson on race issues !?

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