Spending bill would break Biden pledge not to raise taxes on middle class, analysis finds
- Thread starter biggreydogs
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"American real wages - adjusted for inflation - are down 2.2% since Jan 1.
Seems the ONLY truly meaningful thing that’s down this manic, manic year.
Inflation is a massively regressive tax. Never forget it." - Michael Burry
I think the main problem with dealing with inflation is it's been such a long time since it's been a major issue.
Probably have to go back to the late 70's to get to a comparable situation.
We've basically been operating on the assumption that we had the inflation problem solved......we've been pretty slow/reluctant to react.
Explain why when I follow the link included in your article it sends me here. This doesn't say what your article claims.
Build Back Better 2.0 Still Raises Taxes For High Income Households And Reduces Them For Others
In a new analysis, the Tax Policy Center estimates that the major tax changes in the latest version of President Biden’s Build Back Better plan would cut taxes on average for nearly all income groups in 2022. The exception: Those in the top 1 percent, who will make about $885,000 or more. They’d pay about $55,000 more than under current law. Those in the top 0.1 percent, who make about $4 million and up, would pay an additional $585,000 on average, a 5.9 percent reduction in their after-tax income.
Looking only at direct taxes—individual income taxes and payroll taxes—the plan also would cut 2022 taxes on average for every income group except those in the top 1 percent. The highest-income households would face roughly the same increase in direct taxes in 2022 as they would with all major provisions.
Build Back Better 2.0 Still Raises Taxes For High Income Households And Reduces Them For Others
In a new analysis , the Tax Policy Center estimates that the major tax changes in the latest version of President Biden’s Build Back Better...
www.taxpolicycenter.org
Inflation is Robinhood in reverse:
Bank of Canada Governor Tiff Macklem says the central bank's massive stimulus program called quantitative easing (QE), which it recently announced will be tapered to $3 billion a week, could be widening wealth inequality.
"QE can boost wealth by increasing the value of assets such as the investments Canadians have in their registered retirement savings plans or company pension plans," he said during a speech about the benefits of an inclusive economy.
"But of course, these assets aren't distributed evenly across society. As a result, QE can widen wealth inequality. We will look closely at the outcomes of QE here and elsewhere and will work to more fully understand its impact on both income and wealth inequality."
Bank of Canada Governor Tiff Macklem says the central bank's massive stimulus program called quantitative easing (QE), which it recently announced will be tapered to $3 billion a week, could be widening wealth inequality.
"QE can boost wealth by increasing the value of assets such as the investments Canadians have in their registered retirement savings plans or company pension plans," he said during a speech about the benefits of an inclusive economy.
"But of course, these assets aren't distributed evenly across society. As a result, QE can widen wealth inequality. We will look closely at the outcomes of QE here and elsewhere and will work to more fully understand its impact on both income and wealth inequality."
Pelosi said recently that Biden saying this would be paid for by tax increases on the rich was a "publicity stunt." Of course the plan will not be paid for by taxes. There was no intention of this being paid for.
https://www.businessinsider.com/nan...y-link&utm_medium=referral&utm_content=topbar
https://www.businessinsider.com/nan...y-link&utm_medium=referral&utm_content=topbar
Everything out of his mouth is a lie, and always has been, Which makes him just like his followers on this board.
Our 101 Trillion Dollar Problem: This Is the Number One Tool the Elite Use to Enslave Us
Editor's Note: It is VERY important that we read the following article by Michael Snyder from The Economic Collapse Blog
americafirstreport.com
In the mid-90s, the total amount of debt in the system was about 20 trillion dollars, but now we have reached the 101 trillion dollar mark…
The word “insanity” does not even begin to describe what we have been doing to ourselves.
It takes a lot of really hard work to add 80 trillion dollars of debt in just 30 years. Every time we pile up more debt, there is a winner and there is a loser.
Debt strips you of your freedom and slowly drains you of your wealth. It puts the fruits of your labor into the pockets of others. That is true for individuals, and it is true for a nation as a whole.
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