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Calista241

(5,633 posts)

13. Nothing is going to happen at this point.

Reply to RAB910 (Reply #4)

Fri Jun 10, 2022, 10:10 AM

Jun 2022

It's summer time, in an election year. Manchin has very specific requirements for his vote on reconciliation, and those requirements are probably out of line with other democrats.

Can you get 50 Dems to vote to raise taxes, and devote most of that to deficit reduction and some nebulous 'climate' initiative that hasn't be defined or explained? How does that help inflation and GDP growth? They'd essentially be saying that they were walking away from paid family leave, the child tax credit, voting reform, and a whole host of other Dem initiatives.

The GDP numbers for Q2 will come out in July, and I think they're going to be pretty bad and we'll officially be in a recession. I can't decide if it's good BBB didn't pass, because it would certainly take some of / much of the blame for the recession that was going to happen anyway.

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Should Biden roll back the Trump/GOP tax cuts for the wealthy to fight inflation? [View all] RAB910 Jun 2022 OP

He doesn't have the authority. Congress would spooky3 Jun 2022 #1

I understand that, but Biden has the ability to get the ball rolling, so to speak RAB910 Jun 2022 #4

Nothing is going to happen at this point. Calista241 Jun 2022 #13

I don't think it would do much on inflation bucolic_frolic Jun 2022 #2

propose this and an increase in immigration RAB910 Jun 2022 #8

How Does It Fight Inflation? ProfessorGAC Jun 2022 #25

It's definitely Powell's doing. roamer65 Jun 2022 #24

How would he do that? onenote Jun 2022 #3

Propose a bill for Congress to pass RAB910 Jun 2022 #5

TFG's tax cut was passed with 53 republican senators. Claustrum Jun 2022 #6

That's one of the things I think he should do... SKKY Jun 2022 #7

You mean 18 cents a gallon would turn things around? The infrastructure is already falling apart. PSPS Jun 2022 #16

The infrastructure bill is already allocated. This is a very short-term remedy... SKKY Jun 2022 #23

Convince Sinema and Manchin In It to Win It Jun 2022 #9

How about rolling back the Reagan tax on SS income and unemployment compensation. Make doc03 Jun 2022 #10

It will fail JustAnotherGen Jun 2022 #11

Well, those tax cuts need to be rolled back regardless of inflation (n/t) MissMillie Jun 2022 #12

All of them? MichMan Jun 2022 #14

i dont think that counts as 'tax breaks for the rich'. mopinko Jun 2022 #19

I've just many posters wanting to roll back all of the Trump tax cuts. MichMan Jun 2022 #21

op specifically uses the word 'wealthy' mopinko Jun 2022 #22

You're Cherry Picking ProfessorGAC Jun 2022 #26

Even if he could, it would just fuel inflation. PSPS Jun 2022 #15

I am pretty sure that's not how the economy works RAB910 Jun 2022 #17

Consumers in the luxury goods market are unaffected by inflation PSPS Jun 2022 #18

Nope ProfessorGAC Jun 2022 #27

Taxing windfall profits would help deal with the greed element of inflation. GoodRaisin Jun 2022 #20