American Politics Discussion Thread

[Cyneheard]

Putin has enough on his hands right now.

I see what you did there .

Darrell

You know what's sad? I've internalized that line so much that I didn't.

[darrelljs]

Ukraine: Nick Robinson on how Germany is reversing decades of closer ties with Russia

https://www.bbc.co.uk/news/world-europe-60743342

Darrell

[Boro]

Thoughts on Ezekiel Emanuel?

[Bobchillingworth]

Who?

[Boro]

Part of the covid 19 advisory board for Biden's team. "Bioethicist", hastings fellow, with really "interesting" views.

[superdeath]

Part of the covid 19 advisory board for Biden's team. "Bioethicist", hastings fellow, with really "interesting" views.

posting a bit of information/ect about what views those are would go a long way

[Mjmd]

This has 0% chance of passing or actually being included. I know this is purely for publicity, but I really think Democrats should just do this as a standalone bill.

https://www.cnbc.com/2022/03/26/presiden...-tax-.html

Again, wouldn't pass, but would allow campaign ads galore.

[T-hawk]

The effect of that wouldn't be that billionaires start paying 20%. The effect would be that billionaires arrange their assets in business structures and holding companies so that their personal wealth doesn't register as the billion threshold. It's also yet another push to move money overseas.

Politicians in general, Democrats in particular, and the clickbait news media all completely ignore the fact that people can and will modify their behavior in response to an unfavorable law.

The easy example of that is how capital gains tax is lower than income tax, which the fake news loves to frame as a handout for the wealthy class. It's exactly the opposite, the purpose of a lower capital gains tax is to encourage keeping assets in the business (and in the US) where it will increase jobs and productivity, rather than taking the money out of the business as personal income.

[Mjmd]

Again, 100% publicity agreed. There is no chance of it passing, and I will agree there would probably need to be additional measures against capital loss. People do response to incentives, but you have to also de incentive moving it then. Our deficit and debt do need to eventually be vaguely looked at sideways. The main two ways would be increase taxes or decrease defense spending (and we know that won't happen).

Did the 15% global min corp tax every actual get passed? That is also a great initiative and I think is a good step.

[Mjmd]

Two things can also be true or partially true at the same time. Capital gains tax is both A) very good for the wealthy and B) an incentive for investment. Just ignoring A is confusing.

I think there is a large difference in rewarding start up / needed capital vs stock market investment capital, but we treat all of it the same. I'm fine with people who are investing in a business and taking risks trying to grow a business getting a lower tax rate. Having large investors just buying and selling existing stock to me is entirely different and should be treated differently.