Author Topic: Predictions For What The Ds Will Do In Full Control Of DC?  (Read 12378 times)

Online zh cohen

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #20 on: January 10, 2021, 08:49:24 AM »
Until they threaten to primary him, or whatever else the Dems are capable of (like maybe deleting his Twitter account, and if he doesn't have one, maybe just ripping out his voice box?)

Or they can just threaten to expell him from the Senate now that they are doing that over political disagreements.

Offline yos9694

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #21 on: January 10, 2021, 10:33:33 AM »
The list of most likely is spending. Another stimulus bill, healthcare bill, environmental bills... trillions in spending in the near-term is nearly guranteed.

Less likely is to tax the rich. First of all, the tax revenue from the rich is somehwat elastic- if the cost of paying taxes goes up that gives them an incentive to spend money on sheltering their income from taxes. Second, when we say rich we actually mean wealthy, and there is no good way to tax accumulated wealth. That means that any tax increase plan has to also include the top half of the middle class (executive white collar) in order to raise significant revenue.

Giving back what's been taken away hardly ever happens. Dont count on getting back SALT deduction. That benefits the middle class and neither party is known for doing that.

It will be up to some of the Dem Representatives to come up with a M4A plan and try to push it through but I have my doubts that the medical insurance industry will be overcome even with full Dem control

Online zh cohen

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #22 on: January 10, 2021, 10:40:37 AM »


Less likely is to tax the rich. First of all, the tax revenue from the rich is somehwat elastic- if the cost of paying taxes goes up that gives them an incentive to spend money on sheltering their income from taxes.

Raising taxes on the rich isn't about bringing in more money, it's about class envy and political posturing

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #23 on: January 10, 2021, 10:50:33 AM »
Raising taxes on the rich isn't about bringing in more money, it's about class envy and political posturing

And it doesn’t fix the inequality issue, it just stokes the flames and perpetuates the issues.
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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #24 on: January 10, 2021, 11:08:32 AM »
And it doesn’t fix the inequality issue, it just stokes the flames and perpetuates the issues.
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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #25 on: January 10, 2021, 12:17:11 PM »
Raising taxes on the rich isn't about bringing in more money, it's about class envy and political posturing
I agree, I think they will raise taxes in a way that has more political than practical impact. The US government doesn’t need more tax revenue now when there is no inflation or interest on loans. Perhaps that will change before 2024
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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #26 on: January 10, 2021, 01:14:40 PM »
Can't wait for electricity and gas bills to go up

Green new deal

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Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #28 on: January 10, 2021, 03:05:58 PM »
And it doesn’t fix the inequality issue, it just stokes the flames and perpetuates the issues.
How exactly does it do that?

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #29 on: January 10, 2021, 03:06:57 PM »
Colin Powell just said on CNN, “I no longer consider myself a Republican.”
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Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #30 on: January 10, 2021, 03:09:12 PM »
Raising taxes on the rich isn't about bringing in more money, it's about class envy and political posturing

Hmm. On the one hand people complain about the spending, but when people propose actually raising money from the people who could most afford it, the knee-jerk reaction is that they have ulterior motives. I get being against taxes and handouts, but to imply that the taxes are to pay for anything but said handouts is stupid.
« Last Edit: January 10, 2021, 03:12:49 PM by Shaya E »

Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #31 on: January 10, 2021, 03:10:49 PM »
I agree, I think they will raise taxes in a way that has more political than practical impact. The US government doesn’t need more tax revenue now when there is no inflation or interest on loans. Perhaps that will change before 2024

Have you received a stimulus check? Someone has to pay for that.

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #32 on: January 10, 2021, 03:20:25 PM »
Colin Powell just said on CNN, “I no longer consider myself a Republican.”

Really?! I'm shocked that the guy who endorsed every Democrat presidential candidate in the past 20 years doesn't consider himself a Republican.

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #33 on: January 10, 2021, 03:21:53 PM »
Have you received a stimulus check? Someone has to pay for that.
Printers. Developing economies are paying for it with a fall in their currency values as global capital flees to the dollar enough to allows us to have zero inflation despite unprecedented burrowing and printing.

No reason to pay the bill today if we can push it off 10 years without interest
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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #34 on: January 10, 2021, 03:22:02 PM »
Hmm. On the one hand people complain about the spending, but when people propose actually raising money from the people who could most afford it, the knee-jerk reaction is that they have ulterior motives. I get being against taxes and handouts, but to imply that the taxes are to pay for anything but said handouts is stupid.

The point is that it won't raise money because the people who can "most afford it" can also most afford to avoid the taxes (or move).

Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #35 on: January 10, 2021, 03:26:55 PM »
Printers. Developing economies are paying for it with a fall in their currency values as global capital flees to the dollar enough to allows us to have zero inflation despite unprecedented burrowing and printing.

No reason to pay the bill today if we can push it off 10 years without interest
So to clarify, if you would be in control, you would send thousands of dollars to every American all the time (COVID or no COVID). Or does even modern monetary theory have its limits. If it does, how are you sure we didn't already hit it. We can't have seen the affects of all the money printed over the last year. These things could take time to affect inflation.

Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #36 on: January 10, 2021, 03:29:59 PM »
The point is that it won't raise money because the people who can "most afford it" can also most afford to avoid the taxes (or move).

The wealthy are doing their best to avoid it regardless of how much you're taxing them. Some succeed more, some less and some not at all. We'll take what we can get. Again, it isn't a punishment, something as to fund the handouts.

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #37 on: January 10, 2021, 03:51:50 PM »
So to clarify, if you would be in control, you would send thousands of dollars to every American all the time (COVID or no COVID). Or does even modern monetary theory have its limits. If it does, how are you sure we didn't already hit it. We can't have seen the affects of all the money printed over the last year. These things could take time to affect inflation.
I’m against sending people money now. I’m for stimulating the economy with deficit spending until we start seeing inflation rise, at which point we can counter it by instituting interest rates.
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Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #38 on: January 10, 2021, 04:15:58 PM »
I’m against sending people money now. I’m for stimulating the economy with deficit spending until we start seeing inflation rise, at which point we can counter it by instituting interest rates.

Deficit spending and spending people money aren't mutually exclusive. All deficit spending means is that the money for the handout comes from borrowing instead of taxation. You're arguing to borrow instead of taxing. That's a valid argument, especially in today's world with practically no interest rates. But taxing on some level exists, now and always, as does borrowing (at least since 2000). With added expenses we need more income, to argue that the wealthy should foot some of that bill (and borrow the rest) doesn't have to for ulterior motives.

I would love to discuss financial theory with you but that wasn't the point of my original post.

Offline Shaya E

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Re: Predictions For What The Ds Will Do In Full Control Of DC?
« Reply #39 on: January 10, 2021, 04:18:58 PM »
As for deficit spending as a whole, it has its place. Which is why its always been used to control inflation, but it does lock up our ability to borrow in the future. The higher the debt, the harder it will be to borrow. So even putting interest aside (rates won't always remain so low) you have to watch the debt.