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What's in the bill

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  • What's in the bill

    Most of the grousing so far has been over $ for the IRS. I hear the complaints from both camps, but always from the upper middle class who maybe have been cheating on taxes. I don't know how many times I've been paid for work on a private residence with a check from a business, but it happens often. More auditors will save billions. Republicans tried to add an amendment shielding all who make less than $400K from audits. Like if you are making a quarter million a year, go ahead and cheat on taxes.

    A minimum tax for corporations. The most valuable companies in the US often pay no taxes at all, now they will pay 15% just like everyone else and their employer pays for Social Security and Medicare. The tax will be used to pay down the debt. The current loopholes allow all kinds of companies to pay nothing, this stops that. Only for the wealthiest corps with annual revenue over a billion or foreign companies with US revenue over 100 million. The 150 biggest corps.

    Subsidies for the upper middle class to put up solar panels and buy electric vehicles. 30% for the panels and $7500 per car. This will help but most of our carbon footprint has been offshored along with our manufacturing. Whenever I buy something heavy made of steel I look at the label or shipping info, China, we need to change that. China burns a lot of coal to make stuff to sell to us.

    Nothing for child care, parental leave, etc.

    This blindsided Rs who had just agreed to a semiconductor bill to bring back chip manufacturing and pay for research. We need to make chips here we found out when we ran out during covid. Rs thought that would be the end of D bills not knowing of the deal between Manchin and Schumer.

    What does this have to do with inflation? Little to nothing. The spending is offset by the taxes. Might help a little in that it pays off some of the debt.




  • #2
    Rock Rat , this is a very in-depth subject that cannot be adequately discuss on this forum but just from your post I see many things of concern. More taxes , why so we can give away money to undocumented people in this country , electric vehicles are a great idea but where does electric power come from ? Where is all the lithium coming from ? Remember we just let China walk into Afghanistan and all the mineral rights . You worry so much about Corporation's paying taxes but we sent so much business overseas and with the full backing /banking of this government and insured by OPIC . I have a very good friend who has just retired from her position as Vice President of a major company ( one of the biggest in the country/world) she voted for Joe Biden ! She explained the Biden administration is good for Corporate business around the world . She made her way up the corporate ladder by saving the company billions in taxes. Do you read this she voted for Biden not Trump! Like I said you posted a very simplistic view of a bill that is very complex and will drive more companies overseas leaving this country a nation of services and not a manufacture of products . Like I said this subject is to complex to discuss here properly and I would tend to say that if Democrats are behind this bill it’s doomed to fail the American people. FYI our carbon footprint and energy independence was much better under Donald Trump and for the future as well. Stay cool out there today at work and hydrate .

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    • #3
      How many million dollars does the Brandon crime family owe the government????? The IRS was politicized by Obama to attack Republicans, are we ready for Act Two in the kill the Republicans Show????? Some companies pay no taxes at all, because they reinvest in their businesses. Brilliant concept of removing any incentive to invest in or stay based in the USA. We, and Industry trust BIG BROTHER!!! Pay down debt, is almost as funny as Hunter smoking cheese, or Admiral Dr Racheal Levine being a woman. Check your shorts Rat, something might have slipped out on that last post.

      Let's GO Brandon!!!!!!!

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