At least some honest people are willing to say the "R" word!
Officially, the National Bureau of Economic Research declares recessions and expansions, and likely won’t make a judgment on the period in question for months if not longer. But a second straight negative GDP reading meets a long-held basic view of recession, despite the unusual circumstances of the decline and regardless of what the NBER decides. GDP is the broadest measure of the economy and encompasses the total level of goods and services produced during the period.
76 comments:
The Wall Street Journal says that there are a lot of unusual factors..
Two months??
We will see 👀
Officially, the National Bureau of Economic Research declares recessions and expansions, and likely won’t make a judgment on the period in question for months if not longer.
But a second straight negative GDP reading meets a long-held basic view of recession, despite the unusual circumstances of the decline and regardless of what the NBER decides. GDP is the broadest measure of the economy and encompasses the total level of goods and services produced during the period.
They won't declare a recession right away.
From your link
Most economists don’t expect the NBER to declare an official recession, despite the consecutive quarters of negative growth. Since 1948, the economy has never seen consecutive quarterly growth declines without being in a recession.
The feeling, though, on Wall Street is that the economy could well hit recession later this year or in 2023 but is not in one now.
But like you said
That may not be enough to change public perception, however. A Morning Consult/Politico poll earlier this month indicated that 65% of registered voters, including 78% of Republicans, think the economy already is in a recession.
From your link
Most economists don’t expect the NBER to declare an official recession, despite the consecutive quarters of negative growth. Since 1948, the economy has never seen consecutive quarterly growth declines without being in a recession.
The feeling, though, on Wall Street is that the economy could well hit recession later this year or in 2023 but is not in one now.
Like you said before you censored me
That may not be enough to change public perception, however. A Morning Consult/Politico poll earlier this month indicated that 65% of registered voters, including 78% of Republicans, think the economy already is in a recession.
Biden: 'I Don't Know If We're In A Recession, I'm Not A Biologist'
WASHINGTON, D.C. — America's GDP has fallen over the last two quarters, stoking fears of a possible recession due to the fact that America is now in a recession. When asked whether the U.S. is now in a recession, Biden answered that he wasn't qualified to answer, as he doesn't have a biology degree.
"I don't know if we're in a recession, I'm not a biologist," said Biden to the bronze bust of Hugo Chávez in his office. "Leave that stuff to the experts, Jack! If you ask me, the economy should lose some weight, anyway. Too fat. We deserve this for being racist anyway. Come on, man!"
The White House quickly clarified Biden's statement, saying the U.S. is not in a terrible recession because the word "recession" has been redefined, as has the word "terrible."
"It should be noted that the word 'recession' is being used by extreme far-alt-right-right extreme extremists," said gay black Press Secretary Karine Jean-Pierre to reporters. "At best, the word 'recession' is a racist dog whistle. At worst, it's a cruel slur against a historically marginalized economy. We condemn anyone who would use this racist language."
At publishing time, Supreme Court Justice Ketanji Brown Jackson couldn't confirm whether America is in a recession either, as she is also not a biologist.
Ch, you sure are rootin for recession as bad news for Biden.
BUT
Will Biden Get a Bounce from Legislative Success?
July 28, 2022 at 11:00 am EDT By Taegan Goddard 63 Comments
Jonathan Bernstein:
“Normally, I’d warn against expecting improvement in Biden’s approval ratings as a consequence of legislative success.
"Voters don’t judge presidents based on how many of their initiatives succeed in Congress — nor, for the most part, should they. Voters care most about big-picture and highly visible policy outcomes, not bills signed or policies implemented.
“That said, Biden’s ratings are so low that there are probably some easy pickings available, especially among younger, liberal voters who have soured on him. It’s also possible that if there’s other good news, perhaps positive reports about Biden and Congress could contribute a bit to lifting the generally grumpy mood of the nation.”
AND MEANWHILE, HE TRUMP THING IS NOT GOING AWAY
Committee Sharing Evidence with Justice Department
July 28, 2022 at 11:52 am EDT By Taegan Goddard 17 Comments
Rep. Bennie Thompson (D-MS) told Politico that the January 6 Committee “has formalized a path to share witness transcripts and evidence with the Justice Department.
“Federal investigators have sought to access the congressional committee’s 1,000-plus witness interview transcripts since April, but the select panel has resisted as its probe continued to generate extraordinary new evidence and witness testimony.
“Now, though, as DOJ delves even more deeply into the former president’s inner circle and the select committee’s most significant round of public hearings has concluded, there appears to be greater urgency for prosecutors to obtain evidence the select committee has gathered.”
AND HOW ABOUT THIS==
Georgia Voters OPPOSE New Abortion Restrictions
July 28, 2022 at 11:50 am EDT By Taegan Goddard 43 Comments
“Most Georgia voters oppose a new restrictive abortion law that took effect last week, and many say a candidate’s support or opposition to the procedure will have an impact on who gets their vote,”
according to a new Atlanta Journal-Constitution poll.
Also interesting:
“About 42% of likely voters said they’re more likely to vote for a candidate who wants to protect abortion rights.
About 26% said they’re motivated to vote for candidates who want to limit access to the procedure.
About one-quarter said it makes no difference.”
I seem to recall that a certain locked down elderly commenter here suggested that he wasn't going to accuse me of censoring him anymore.
But as this person has explained prior.... He has gained much knowledge about his intermittent explosive disorder... and sometimes the self control lets loose and he just can't help himself.
He
must
lash
out!
https://lawandcrime.com/2020-election/feds-obtained-a-second-federal-search-warrant-to-scrutinize-donald-trump-attorney-john-eastmans-cell-phone-filing/
It's too long to post but it shows that they are closing in on the long term coup
Told ya months ago we are in The Biden Recession.
If you believe this is "good economic news "
"Initial jobless claimsJuly 256,000"
You believe This is not The Biden Recession because he told you it isn't
Biden’s Tax Promises Suddenly Revived
July 28, 2022 at 7:48 am EDT By Taegan Goddard 31 Comments
“President Joe Biden’s campaign trail promise to increase taxes on corporations and the wealthy as part of a battle against glaring income inequality in the United States got an unexpected boost on Wednesday,” Reuters reports.
“Early proposals to increase tax rates from Biden and his fellow Democrats hit a brick wall in Congress after Republicans, and some Democrats, opposed them. But a sudden reversal by West Virginia Democratic Senator Joe Manchin, a swing vote in the divided Senate, has given Biden’s tax agenda a new lease on life.”
U.S. Says 75,000 Russians Killed or Injured in Ukraine
July 28, 2022 at 10:12 am EDT By Taegan Goddard 173 Comments
“The Biden administration is quietly circulating an estimate of Russian casualties in Ukraine that far exceeds earlier U.S. estimates, telling lawmakers that more than 75,000 members of Russia’s forces had been killed or injured,” the New York Times reports.
Meanwhile, a new Yale study finds that economic sanctions “are catastrophically crippling the Russian economy.”
______
Putin's political situation must be increasingly problematic for him.
For a few minutes I refreshed my phone and my post was gone.
Scott I am not locked in. I don't like it but I can go anywhere anytime I want by myself.
I'm the only one who has zero mental issues.
Plus my liver is great! When the test results are available I saw that!
I'm here alone because I fucked my life.
But my daughter is going to have my first grandson in January and I'm planning to be there about then
I've been censored again and again and again
Reverend...
Just telling it like it is!
With consumer sentiment at an all time low, inflation at decades high rates, markets causing people to postpone or come out of retirement, interest rates causing home and other purchases to be cancelled, disposal wages falling further and further behind the cost of living...
and now hitting the two consecutive quarters of negative growth!
I find it interesting how far some are willing to turn themselves into pretzels trying come up with a reason why "this" is a better economy than other times when we hit the two quarter mark. If it was such a great economy then the American public would not be giving it historically poor marks.
I would probably argue that the negative GDP growth is the "least" of the issues with the economy right now. And the fact that we still have not gotten the overall employed number back to precovid numbers (still about 300,000 under that mark) tells me that the employment is still just about "bringing back lost jobs" not creating new ones.
Prosecutors say that a federal agent “obtained a second federal search warrant” for the cell phone of Donald Trump’s attorney John Eastman, who hatched a six-part plan to overturn the 2020 election that is now the subject of an investigation.
https://lawandcrime.com/2020-election/feds-obtained-a-second-federal-search-warrant-to-scrutinize-donald-trump-attorney-john-eastmans-cell-phone-filing/
The Cost of Food produced in the US 🇺🇸 has just begun to go up.
The seed, fertilizer, fuel has yet to hit The Biden Recession.
The cat is out of the bag in
MADISON, Wis. (AP) — A Wisconsin judge said Thursday that a Republican-ordered, taxpayer-funded investigation into the 2020 election found “absolutely no evidence of election fraud,” but did reveal contempt for the state’s open records law by Assembly Speaker Robin Vos and a former state Supreme Court justice he hired.
Dane County Circuit Judge Valerie Bailey-Rihn awarded about $98,000 in attorneys’ fees to the liberal watchdog group American Oversight, bringing an end in circuit court to one of four lawsuits the group filed. Vos’s attorney, Ron Stadler, said he was recommending that Vos appeal the ruling.
The fees will be paid by taxpayers, which is why the judge said she was not also awarding additional punitive damages against Vos. Costs to taxpayers for the investigation, including ongoing legal fees, have exceeded $1 million.
“I think the people of the state of Wisconsin have been punished enough for this case,” Bailey-Rihn said. “I don’t think it does anyone any good to have punitive damages placed on the innocent people of this state.”
You know who will not admit being wrong about vote fraud.
This is Biden's Build Back Better Results = Recession
Justice Thomas Is Suddenly ‘Unavailable’ to Teach at D.C. Law School After Students Petitioned for His Firing
ELURA NANOSJul 28th, 2022, 1:01 pm
U.S. Supreme Court Justice Clarence Thomas.
U.S. Supreme Court Justice Clarence Thomas will not be teaching at George Washington University School of Law in Washington D.C. this fall.
Thomas, 74, has co-taught a Constitutional Law seminar at GW Law since 2011 with his former clerk, Judge Gregory Maggs of the U.S. Court of Appeals for the Armed Forces. Now, Thomas is no longer listed as an instructor on the school’s online course catalog. According to the law school’s online publication the GW Hatchet, Maggs sent an email that said, “Unfortunately, I am writing with some sad news: Justice Thomas has informed me that he is unavailable to co-teach the seminar this fall.”
The change comes just weeks after an online petition was circulated demanding Thomas’ removal from the faculty. The petition, started in direct response to Thomas’ vote to overrule Roe v. Wade in Dobbs v. Jackson Women’s Health Organization, and launched by an undergraduate student at GWU, now has more than 11,000 signatures.
In early July, GWU refused to remove Thomas and wrote in a letter to students, “Because we steadfastly support the robust exchange of ideas and deliberation and because debate is an essential part of our university’s academic and educational mission to train future leaders who are prepared to address the world’s most urgent problems, the university will neither terminate Justices Thomas’ employment nor cancel his class in response to his legal opinions.”
Josh Grossman, university spokesperson for GWU, said in an email to Law&Crime Thursday, “Justice Thomas informed GW Law that he is unavailable to co-teach a Constitutional Law Seminar this fall. The students were promptly informed of Justice Thomas’ decision by his co-instructor who will continue to offer the seminar this fall.”
Thomas, who has been teaching at the law school since 2011, earned $10,000 from the school last year, according to his most recent financial disclosure report.
While all six conservative justices making up the Court’s majority in Dobbs have come under scrutiny since the bombshell decision was handed down, Thomas has drawn significantly more public ire than some of his colleagues perhaps in part due to his lone concurrence in the case. In that concurrence, discussed at length by Law&Crime here, Thomas signaled a willingness to abandon “substantive due process” rights unrelated to abortion. Among the rights Thomas said could use reconsideration were the right to use contraception, the right to same-intimacy, and the right to same-sex marriage. Thomas urged the justices to reconsider the entire framework of substantive due process jurisprudence in an effort to stay closer to what he describes as the intent of the Constitution’s original text.
[
The Biden Recession is real.
Biden's Build Back Better caused it.
So now The Socialist Democrats vote to spend another $450 Billion.
Alky, if the 5th Beatle is as you say he is, you are in a MEMORY WARD
Got door code
We know we are in a Recession, despite the "Recession Deniers".
Greatest chyron ever as Joe Biden flees reporters and takes no questions:
"Biden denies recession as U.S. enters recession"
LOL
Keynesian Economics was fully implemented by President Joe Failure.
Not surprisingly it resulted in The Biden Recession.
Here is the reality.
We are at the beginning of The Biden Recession.
The Biden Recession Deniers
James
ALKY
Biden
Yellen
Powell
Deese
Idiot
"Jerome Powell says US economy is not in recession"
"Inflation is Transitory "
From The Big Lie book
Russia had meddled in the election—that much was known—but the role that Trump and his campaign may have played was the source of 24/7 speculation.
It drove Trump crazy. He demanded loyalty from others on the payroll, acting more like a mob boss than commander in chief. He demanded subservience from officials, whom he treated as if they had sworn allegiance to him and not to the Constitution. Soon after Comey refused to publicly clear his name in the Russia probe, Trump fired him, an impulsive move that led to Mueller’s appointment.
House Passes Semiconductor Bill
July 28, 2022 at 3:16 pm EDT By Taegan Goddard 18 Comments
“The House passed a $280 billion bill on Thursday to strengthen the domestic chip manufacturing industry and finance scientific research in a bid to boost the United States’s competitiveness on the global stage, sending the measure to President Biden’s desk for final approval.” The Hill reports.
Washington Post:
“The House passed the legislation on a 243-187 vote, with strong bipartisan support — despite a last-minute push by House GOP leaders to whip against the bill. Twenty-four Republicans defied the leadership and joined Democrats in backing the measure.
AMERICA IS HUNGERING FOR BIPARTISANHIP TO GET THINGS DONE!
39 days 11 hours...
But this might matter more than the economic crisis.
WASHINGTON (AP) — President Joe Biden declared his support Thursday for the “historic” inflation-fighting agreement struck by Senate Majority Leader Chuck Schumer and holdout Democratic Sen. Joe Manchin, an expansive health care and climate change package that had eluded the White House and seemed all but lost.
Biden said the bill will be a “godsend” for American families.
"This bill would be the most significant legislation in history to tackle the climate crisis," Biden said. He said it will also lower healthcare costs for millions of Americans who buy their own health insurance under the Affordable Care Act.
Biden vowed the package will not raise taxes on anyone earning less than $400,000 a year. Instead the 15% corporate minimum tax will help fund the new costs, with extra going to deficit reduction.
He acknowledged the final product was a compromise, but was upbeat that it would win support in Congress.
“My plea is: Put politics aside. Get it done," Biden said. “We should pass this.”
The $739 billion package, not as much as Biden once envisioned, remains a potentially remarkable achievement for the party, with long-sought goals of addressing health care and climate, while raising taxes on high earners and large corporations and reducing federal debt.
The Senate is expected to vote on the wide-ranging measure next week, setting up for the president and his party an unexpected victory in the runup to November elections in which their congressional control is in peril. A House vote would follow, perhaps later in August, with unanimous Republican opposition in both chambers seemingly certain.
Senate Majority Leader Chuck Schumer told fellow Senate Democrats they now have an opportunity to achieve two “hugely important” priorities on health care and climate change, if they stick together and approve a deal he brokered with Manchin.
It was not bipartisan,but if the Democrats remain together and with gas prices going down it will get better than before.
Joe Biden is suddenly winning!
Overcoming Covid and outfoxing the Republicans: Joe Biden's having an unusually good week -- and he won't let Thursday's recession talk spoil his mood.
When the 79-year-old tested positive for the coronavirus last week, it seemed nature had decided to pile in on his already daunting list of manmade woes: highest inflation in four decades, lowest polls of his presidency, and a tiny Democratic congressional majority apparently unable to get anything done.
Fast forward to Wednesday and Biden, declared Covid free by his doctor, emerged from the White House residence to cheers from staff in the Rose Garden.
The sun was shining -- literally and politically.
"Now I get to go back to the Oval Office," he said to applause, sounding as if he were opening a birthday present.
There were reasons for the spring in Biden's step well beyond the beneficial effects of the five-day course of the therapeutic Paxlovid that helped him through Covid.
The Senate, where Democrats and Republicans are split 50-50 and almost never cooperate, chose Wednesday to pass a bill pouring $52 billion into domestic manufacturing of semiconductors -- the high-tech widgets at the heart of almost every piece of modern equipment. Republicans were on board.
If approved by the House, the decision to throw federal weight behind private homegrown production will create thousands of high-skilled jobs and, crucially, begin addressing dangerous US overreliance on foreign companies.
For Biden the bill fits neatly into one of his core priorities, restoring the kind of government-backed research and development that he says will decide whether the United States can keep up with China.
Then a few hours later, with Biden still in the Oval Office, came startling news of another potential Senate win.
This time it wasn't warring Republicans who had been brought around but the ever-unpredictable Senator Joe Manchin.
Scott, I doubt Roger keeps his word.
Look.@ his life of broken promises.
“You Don’t Raise Taxes In A Recession”
His economy just went into recession and he's winning??
Manchin Insists He Wasn’t Trying To Trick Republicans
July 28, 2022 at 4:08 pm EDT By Taegan Goddard 55 Comments
“Republicans are furious at Sen. Joe Manchin (D-WV),” the HuffPost reports.
“The West Virginia Democrat on Wednesday announced a surprise deal with Senate Majority Leader Chuck Schumer (D-N.Y.) to revive much of President Joe Biden’s domestic policy agenda.”
Said Sen. Tom Cotton (R-AR): “It was obviously a double-cross by Joe Manchin. Just two weeks ago, he said he wasn’t going to support a bill like this.”
Birth Control Already Guaranteed Under Law
July 28, 2022 at 4:05 pm EDT By Taegan Goddard 12 Comments
“The Biden administration on Thursday released guidance reiterating that free birth control is guaranteed under the Affordable Care Act, regardless of what state a person might live in,” Axios reports.
Justice Department Intent on Avoiding Errors
July 28, 2022 at 4:03 pm EDT By Taegan Goddard 11 Comments
New York Times:
“Attorney General Merrick Garland is intent on avoiding even the slightest errors, which could taint the current investigation, provide Mr. Trump’s defenders with reasons to claim the inquiry was driven by animus, or undo his effort to rehabilitate the department’s reputation after the political warfare of the Trump years.
“Mr. Garland never seriously considered focusing on Mr. Trump from the outset, as investigators had done earlier with Mr. Trump and with Mrs. Clinton during her email investigation, people close to him say. As a result, his investigators have taken a more methodical approach, carefully climbing up the chain of personnel behind the 2020 plan to name fake slates of Trump electors in battleground states that had been won by Joseph Biden.
“That has now led them to Mr. Trump and his innermost circle:
Justice Department lawyers are grilling witnesses directly about the actions of Mr. Trump and top advisers like his former chief of staff, Mark Meadows.”
THEY'RE BEING VERY CAREFUL, DONALD.
BUT EVENTUALLY THEY WILL BE COMING TO TAKE YOU AWAY.
According to James and Roger it is.
They are great with all things emotional, factual stuff nt so much.
MyballsJuly 28, 2022 at 3:51 PM
His economy just went into recession and he's winning??"
This might be very important 🤔
After a call that lasted more than two hours — reflecting the long and thorny agenda — President Biden and Chinese President Xi Jingping “agreed to meet face-to-face at a time that has yet to be determined,” USA Today reports.
To keep the Chinese from invading Taiwan 🇹🇼
“You Don’t Raise Taxes In A Recession”
Yet, the Socialist just did with glee.
https://youtu.be/XH8EcnCYqFA
Why is kputz hiding 🤔
Meantime, Californians who vote with their feet are fleeing to Florida in record numbers. From 2010 to 2018, California lost an average of 1,000 people to Florida per year, according to IRS taxpayer migration data. Then, from 2018 to 2019, California lost 4,800 residents to Florida. And from 2019 to 2020—the first IRS data that cover the early pandemic months—California lost 11,500 residents to Florida.
California’s outmigrants are bringing lots of income with them. The state shed an average of $270 million of annual income to Florida from 2010 to 2018. The annual loss jumped to $1.2 billion from 2018 to 2019, and then to $2 billion in 2019–2020. California’s losses, and Florida’s gains, have almost certainly accelerated in the intervening years. And Florida is not the only state picking up California exiles. The Golden State’s losses are at or near record levels with other states, too—in particular, states like Texas that Newsom targets with criticism.
Newsom wants Americans to believe that he has it figured out in California, and that the new American model for freedom is a progressive one. Yet his state’s aggressive population pivot has coincided almost precisely with his tenure as governor, making Newsom the first California leader to preside over a shrinking state rather than a growing one.
No amount of political rhetoric can mask California’s reality under Governor Newsom. Low-income students are being left behind, the rule of law is eroding, and residents are leaving in record numbers. The many former Californians watching Newsom’s ads in Texas and in Florida can only marvel at the hubris of the man.
Roger is warehoused in California, he can't leave.
James is in Illinois, another state that has record number of people leaving.
EDUCATION RANKING
Kansas - 26th
California -34th
EX-Trump Justice Department Official to Testify
July 28, 2022 at 5:42 pm EDT By Taegan Goddard Leave a Comment
“Justice Department staffer Ken Klukowski, who worked with Jeffrey Clark at the agency, is cooperating in the DOJ’s January 6 criminal investigation, after investigators searched and copied his electronic records several weeks ago,”
CNN reports.
OH HO!
Prosecutors Move to FORCE Ex-Trump Officials to Testify
July 28, 2022 at 5:39 pm EDT By Taegan Goddard 2 Comments
“Justice Department prosecutors are preparing to fight in court to force former White House officials to testify about then-President Donald Trump’s conversations and actions around January 6,“ CNN reports.
“At issue are claims of executive privilege that prosecutors expect the former president to make in order to shield some information from the federal grand jury as the criminal investigation moves deeper into the ranks of White House officials who DIRECTLY interacted with Trump.
“DOJ’s preemptive move is the clearest sign yet that federal investigators are homing in on Trump’s conduct as he tried to prevent the transfer of power to Joe Biden.”
CLOSER AND CLOSER AND CLOSER AND CLOSER AND...
Trump owns James.
Freaking Sad.
This is a joyful day as we party to the success of Build Back Better.
Taxpayers who make less than $400,000 a year shouldn't have to worry about having to pay more taxes because of the new deal struck by Sen. Joe Manchin of West Virginia and Senate Majority Leader Chuck Schumer.
The Inflation Reduction Act of 2022, which Manchin agreed to back in a surprise move announced Wednesday, states that it would steer clear of raising taxes for anyone with less than $400,000 annual taxable income. Instead, the plan is to revamp corporate tax and enforce a hard limit on how much big corporations can lower their taxes, which lawmakers predict will generate $313 billion for the US.
The new bill would impose a minimum corporate tax limit of 15% on companies that make $1 billion or more in yearly profits.
Corporations currently have to pay 21% corporate tax, but around 200 of the biggest companies in the US use tax loopholes to pay below 15%, lawmakers wrote in a summary.
It will pass soon
Biden calls deal with Manchin 'godsend' for US families
Associated Press
July 28, 2022, 4:27 PM
WASHINGTON (AP) — President Joe Biden declared his support Thursday for the “historic” inflation-fighting agreement struck by Senate Majority Leader Chuck Schumer and holdout Democratic Sen. Joe Manchin, an expansive health care and climate change package that had eluded the White House and seemed all but lost.
Biden said the bill will be a “godsend” for American families.
"This bill would be the most significant legislation in history to tackle the climate crisis," Biden said. He said it will also lower healthcare costs for millions of Americans who buy their own health insurance under the Affordable Care Act.
Biden vowed the package will not raise taxes on anyone earning less than $400,000 a year. Instead the 15% corporate minimum tax will help fund the new costs, with extra going to deficit reduction.
He acknowledged the final product was a compromise, but was upbeat that it would win support in Congress.
“My plea is: Put politics aside. Get it done," Biden said. “We should pass this.”
The $739 billion package, not as much as Biden once envisioned, remains a potentially remarkable achievement for the party, with long-sought goals of addressing health care and climate, while raising taxes on high earners and large corporations and reducing federal debt.
The Senate is expected to vote on the wide-ranging measure next week, setting up for the president and his party an unexpected victory in the runup to November elections in which their congressional control is in peril. A House vote would follow, perhaps later in August, with unanimous Republican opposition in both chambers seemingly certain.
AMERICANS WANT A BIPARTISAN GOVERNMENT THAT ADDRESSES THESE STRONG NEEDS
I was skeptical too but
ME, I ALWAYS had faith in Sen. Joseph Manchin III.
You, having become a bit cynical lately, may have looked at the $1 million the West Virginia Democrat and his wife rake in annually from their coal business and the sadistic delight he takes in killing the hopes and dreams of Democrats, then bringing them back to life only to kill them again. You may have seen all of that and lost faith. But not me.
I’m kidding, of course. On Wednesday evening, seemingly out of thin air, Manchin and Senate Majority Leader Chuck Schumer, D-N.Y., put out a joint statement announcing that they had come to terms on a deal — an entire bill — that they called the Inflation Reduction Act of 2022. I can’t recall a major deal ever being announced without the Capitol Hill press corps knowing that negotiations were taking place.
Why have the "NEEDS" Increased under President Biden?
Poverty has increased.
.
https://theintercept.com/2022/07/28/manchin-climate-deal-schumer-inflation/
Remember when Roger said
" Corporation don't pay taxe$"
On people who make under $400,000 a year have to pay more taxes than before.
People who make over $400 , 00 will pay more taxes than before
Corporations currently have to pay 21% corporate tax, but around 200 of the biggest companies in the US use tax loopholes to pay below 15%, lawmakers wrote in a summary.
Hey stupid corporations don’t pay taxes, it’s their customers in higher costs, employees in lower wages and investors in reduced dividends.
But you are too fucking dumb to get that
Climate hawks will criticize the bill for its “energy neutral” approach. The kinds of subsidies made available for clean energy are supposed to be available to projects that clean up dirty energy too, and cleaning coal is seen by many as a ruse actively deployed to stall the transition to clean, renewable energy.
However, looking at the reality of our energy infrastructure, fossil fuels are going to be with us for a very long time. Reducing and/or sequestering their carbon emissions during the transition is essential. It’s the unfortunate reality we’ve been dealt. If this money can spark some exponential technological development in that direction, we’ll all be better off.
President Trump Home Ownership rate = 67.4%.
Bidenomics has failed Americans
65.7 %.
Roger, for the live of God, attem I t to be conversational and stop with the cut n paste.
Show off that sharp mind of yours.
Anonymous Anonymous said...
Roger, for the live of God, attem I t to be conversational and stop with the cut n paste.
Show off that sharp mind of yours.
He and pedo are incapable, Alky comes up with shit like yesterday
Brown Shirts
When he had no fucking clue.
He’s just not that bright
True of both of them.
LOL Look at who's talking about brightness.
Corporations will have to pay a MINIMUM tax of AT LEAST 15% rather than FAR LESS than that or EVEN NOTHING.
Only democrats would try to fix inflation by passing more spending bills
Biden inherited a recovery and created a recession.
Hey pedo corporations pass thru there taxes to end user, the employee or their investors
But you’d need a real education to understand that not rote education
You dumbass
Democrats may be on the verge of passing historic climate legislation after all.
The $369 billion of climate spending in the Inflation Reduction Act that Sen. Joe Manchin (D-WV) announced on Wednesday includes funding for clean energy and electric vehicle tax breaks, domestic manufacturing of batteries and solar panels, and pollution reduction.
If the bill’s policies work as intended, it would push American consumers and industry away from reliance on fossil fuels, penalize fossil fuel companies for excess emissions of methane, and inject needed funds into pollution cleanup.
The bill would use tax credits to incentivize consumers to buy electric cars, electric HVAC systems, and other forms of cleaner technology that would lead to less emissions from cars and electricity generation, and includes incentives for companies to manufacture that technology in the United States. It also includes money for a host of other climate priorities, like investing in forest and coastal restoration and in resilient agriculture.
The elementary fact is that “business” does not and cannot pay taxes. Only people can pay taxes. Corporate officials may sign the check, but the money that they forward to Internal Revenue comes from the corporation’s employees, customers or stockholders. A corporation is a pure intermediary through which its employees, customers and stockholders cooperate for their mutual benefit. A corporation may be large and control large amounts of capital. Yet it does not follow that a reduction in the check it sends to Internal Revenue benefits wealthy individuals.
…
Indirect effects make it difficult to know who “really” pays any tax. But this difficulty is greatest for taxes levied on business. That fact is at one and the same time the chief political appeal of the corporation income tax, and its chief political defect. The politician can levy taxes, as it appears, on no one, yet obtain revenue. The result is political irresponsibility. Levying most taxes directly on individuals would make it far clearer who pays for government programs.
Milton Friedman
It may make you giddy inside but YOU are paying those corporate taxes.
This isn’t hard, I’m sure hear that a lot
Tens of thousands of jobs in the United States not China
Domestic manufacturing of clean energy: There’s another $60 billion in incentives and financing for boosting domestic manufacturing of clean energy technologies.
Most of those incentives will go to accelerating US manufacturing of solar panels, wind turbines, batteries, and critical minerals, and to help build the facilities that would make electric vehicles.
The inclusion of $500 million for heat pumps and critical minerals is new, providing funding for Biden’s use of the Defense Authorization Act to boost manufacturing for the energy-efficient technology.
In an interview before the deal was announced, Jason Walsh, executive director of the environment- and labor-focused BlueGreen Alliance, noted why the domestic manufacturing for batteries, solar, and offshore wind is so important. “Those are big investments, and they’re risky investments. And if we expect manufacturers to make them in the United States, they’re going to need to have some long-term policy certainty and support.”
See pedo when the price of yours and Roger’s adult diapers go up it’s Unilever is passing on the tax increase, simple enough for you?
Alky broke the thread
Why aren’t two negative quarters of GDP enough to call it a recession?
Because if it’s truly a recession, all the indicators should be moving in the same direction. Right now, it’s only GDP, said Eric Swanson, professor of economics at UC Irvine. Consumer spending is still going up, albeit moderately, and industrial production is also showing slow growth. Significantly, job growth is still robust.
“In a recession, more people would be losing jobs. But if you look at the unemployment rate, it is very low,” Swanson said. “The GDP is a volatile measure, and one has to look at some alternative indicators as well.”
The economy added a healthy 372,000 non-farm jobs in June, surpassing expectations. The unemployment rate stood at 3.6% in June, the same level in the previous three months and the lowest since February 2020.
The Los Angeles Times
https://www.latimes.com/business/story/2022-07-28/is-this-a-recession-explainer
"Does that make any sense to anybody or is it just me?"
This is sad….
CALI very brightly said:
Hey pedo corporations pass thru there(sic) taxes to end user, the employee or their investors
But you’d need a real education to understand that[,] not rote education
You dumbass
_________
I REPLY:
Gee, I thought there was something to the idea that within capitalism corporations are supposed actually to have to COMPETE with one another in such a way as to tend to keep prices down, especially when strong antitrust provisions exist such as The Sherman Act, The Clayton Act,The Robinson-Patman Act, and the Federal Trade Commission Act.
"Consequences for violating these acts can include prison sentences and significant fines, running into the millions of dollars, depending on the length of the violation and its impact. Anyone injured by an antitrust violation also can sue for damages and recover three times the specific dollar loss plus attorneys' fees."
I SAY:
It's time to reclaim America from the "capitalist" oligarchy made up of autocrats and outright kleptocrats who violate these acts through tax practices that are criminal as well as immoral.
The Secret Service’s actions are getting interesting
U.S. Secret Service Director James Murray announced Thursday that he will "briefly delay" his retirement amid multiple investigations into the agency's response to the attack on the U.S. Capitol.
In an internal message sent to staff Thursday afternoon and obtained by CBS News, Murray announced his decision to "briefly delay my retirement and transition to the private sector in order to help bridge the gap and foster a smooth and meaningful transition for our future Director." The director added that he "recently spoke with Secretary Mayorkas and White House leadership, who each agreed and extended the opportunity to do so."
The note was sent minutes after Murray had informed agency leadership of his decision to stay on for the immediate future, according to two U.S. Secret Service officials.
"I feel strongly about using this time to oversee and ensure our agency's continued cooperation, responsiveness, and full support with respect to ongoing Congressional and other inquiries," Murray wrote in his internal message to personnel. "Doing so is critically important and I am especially grateful for the extra time to help lead our Service ever forward."
Gee, I thought there was something to the idea that within capitalism corporations are supposed actually to have to COMPETE with one another in such a way as to tend to keep prices down, especially when strong antitrust provisions exist such as The Sherman Act, The Clayton Act,The Robinson-Patman Act, and the Federal Trade Commission Act.
Pedo that has nothing to do with corporate taxation.
Nice dodge but as always a complete fail
Gee, I thought there was something to the idea that within capitalism corporations are supposed actually to have to COMPETE with one another in such a way as to tend to keep prices down, especially when strong antitrust provisions exist such as The Sherman Act, The Clayton Act,The Robinson-Patman Act, and the Federal Trade Commission Act.
Pedo that has nothing to do with corporate taxation.
Nice dodge but as always a complete fail
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