She seems OK with a tax on unrealized cap gains on billionaires (well $1B of assets or three years of $100MM+ income). That’s looking more like its going in the legislation. Not sure it gets us all of the way there, but seems all 50 Senate Dems on board barring a wild card Senator we havent heard about.
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The Koch’s or Mercers or whoever haven’t opened their checkbooks yet. Just wait.
And never will as they own private companies. Even if this applies to private firms, there will be litigation over the valuations for decades before they actually pay.
Paid leave is out, climate is totally gutted. So predictably depressing.
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thats a LOT better than I expected from her.
They probably gave her the green light, lol actually collecting this tax.
Yeah how do you tax unrealized gains? I think thats amazing but I don’t see how.
Also wouldn’t surprise me if the roberts court figured out a way to strike it down anyways
Every billionaire will just transfer their shares to a “charitable” trust they control or similar bullshit, the chance they actually write checks is zero. But if the lol CBO scores it right everybody can pretend.
Has Sinema provided any answer as to why she is refusing to even consider raising tax rates just back to what they were before the Trump tax cuts? Like even a pretend answer?
It seems insane that she’s allowed to get away with this single-handed sabotage that basically flies in the face of everything Democrats are supposed to stand for and everybody is just like “Oh well, i guess she has leverage so we have to acquiesce to her demands. 'Tis a shame!”
No, she literally doesn’t talk to anyone except donors. Endless videos of people pleading with her in airports while she is openly disgusted by having to interact with actual humans. Blame John Roberts who has a higher approval among Democrats than Republicans good god we are so fucked try to enjoy your family while you still can.
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I agree that this will just kick off a massive boom period for tax accountants and tax lawyers to structure stuff so that people avoid taxes. But I think that the practical concerns about calculating the taxes are a bit overstated. These guys have no issues at all guessing what their net worth is when it’s time for a dick measuring contest every year to rank the billionaires. Just have the IRS nationalize Forbes and we’re good to go.
On publicly traded shares it’s not hard to tax unrealized gains. Every brokerage firm sends you a statement at the end of the year that shows your unrealized gains. It’s easily accessible information.
On private investments, taxing unrealized gains would require a whole new system that is roughly parallel to how property tax works.
Of course it all falls apart when there’s no appetite for enforcement. Put a couple of billionaires in prison for 20 years for blatant tax fraud and the rest of them will suddenly find all the missing information about their unrealized gains. But the US is too corrupt at this point to do that.
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So we’re back to the progressives maybe voting for infrastructure before the other bill. Part of me hopes that happens and they get Lucy / footballed because that’s truly what they deserve if they’re that stupid.
Damn i was kinda sweet summer child hoping the progressives did this for once. Like agree to a deal, pass the $1.5B, then announce theyd be happy to vote for infrastructure when the missing $2B showed up as originally agreed upon.
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Manchin has another round of climate demands, wants the methane fee out
Evil always wins. Wtf are you even supposed to do as a progressive when you see Krysten Sinema strolling around like a psycho complete impervious to shame for her blatant corruption? Wouldn’t even do you any good if she got assassinated as Arizona still has a R governor.
Pelosi pushing for an infrastructure bill vote with only a BBB framework in place.
Lol “framework,” fuck that.
The Sinema random policy generator has landed YES on global corporate minimum tax, for today at least.
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How does this actually work in practice?
Let’s say 50 D’s say they have agreement on reconciliation bill. All agree on infrastructure as well. Doesn’t one have to pass before the other?
Do House D’s say no we’re not passing infrastructure bill until we see you pass reconciliation. Or does Manchin say no I’m not passing reconciliation until I can vote on infrastructure first? Seems like unless you pass reconciliation first Manchin/Sinema could do some McCain MY GAWD thumbs down scenario on it and then say they’re turning independent.
Quasi-progressives cave and we get two shitty bills that do nothing to address the problems this country faces.
Everyone is all shockedpikachu.jpg when Trump is president again in 2025, this time with 60 senators.
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