Episode 581 – They Actually Did It

All Senate Democrats show they hate Americans. Thank God no Republicans bought it. Let’s talk about it because we are all screwed and it seems kind of important.

 

Kamalaism

We talked about Nancy Pelosi and her trip to Taiwan last week. I said that, though I respected her for going, I was not sure what she was going for. It didn’t do anything accept make for a great photo shoot and piss off China.

When she got off the plane, she had this to say:

What the fuck is she talk

Listen, she talking about? Does she support Taiwan or feels connected to China?

Listen, she has always been hawkish with China and supportive of Taiwan. I don’t think she said this because she supports China. I think she said this because she’s old and her brains are mush. That’s why we shouldn’t have eighty -year-olds in important positions in government. By the way, I’m bipartisan about this. I don’t think Trump should run again because…well…he’s old.

 

Fuck You, America!

Well, the Democrats in the Senate flipped the American people the bird.

We talked about this last week, but we learned a little more about this over the weekend. It started with Chuck Schumer trying to breathe some life into Biden’s Build Back Better garbage but Kyrsten Sinema and Joe Manchin were very much against it. So Chuckie decided to have a talk with Joe Manchin and they came up with a deal. Instead of the bill being $5 trillion, they dropped it to $800 billion.

Weird, that used to be a lot of money.

Anyway, one of the things Machin wanted was deficit reduction. So Schumer threw in a little tax increase that would look good on paper when it comes to lowering the deficit (more on that later). Though that was a big deal for Machin, we learned why he was holding out. Turns out he’s just another dirty politician. He made a deal with Schumer that would allow oil pipelines to remain open in West Virginia. That’s why he supported it. Of course, you can’t trust a politician. I think Manchin is going to find that he got duped because taxes are going to go up for everybody, this bill is going to raise inflation, the deficit is going to go up and people are not going to see any benefits but are going to get harassed by 86,000 more IRS agents (more on that later).

The only one left to convince was Kyrsten Sinema of Arizona. She said she had to read the 725 page bill before committing to it which scared the hell out of the Democrats. Out of nowhere, on Saturday, she said she would support the bill.

Now, the Republicans were going to filibuster this which would require 60 votes. Democrats decided to use Reconciliation. That’s weird because this is not a budget bill but a spending bill. In fact, today, the bill is not called the Inflation Reduction Act. It is now referred to as a climate bill. The CBO scores were hidden from the public by Democrats because it was so bad.

So, Reconciliation goes through. The CBO basically calls the bill crap, saying it won’t lower inflation. That starts a vote-a-rama. That’s where everyone adds their own amendment to the bill and each amendment is voted on. This was a chance for Republicans to put some poison pills in the bill. And they did try. Fourteen hours Saturday night and Sunday morning, they worked to add poison pills to this bill. Each amendment failed.

After this was done, they voted and not one Republican voted for it. It was a 50-50 tie. Kamala Harris gets to vote as Vice President and she approves the bill and we are fucked.

I think Senator Chris Murphy really hit the nail on the head. He’s a Democrat from Connecticut and he asked how this bill is going to be helpful:

Some things:

  • Yeah, he doesn’t know. Shouldn’t he know? He’s a Senator that voted for it.
  • The pharma thing is a small portion of this bill and will actually encourage rationing and put a halt to a lot of research and development.
  • We are not in a climate crisis. It’s hot because it’s summer.
  • We are in an inflation crisis and an energy shortage. Shouldn’t we worry about that now?

This is all part of the Great Reset. This is part of the great transition. We have to suffer and it’s going to get worse.

Good news, Democrats are going to suffer for it.

 

What’s in the Bill

Just a reminder, here’s is what is in the bill:

  • The initial measure,Ā according to numbersĀ released by Senate Democrats, would raise a total of $739 billion in revenue, and spend a total of $433 billion. It would reduce the budget deficit by roughly $300 billion over a decade.
  • The CBO has estimated that elements of the deal that would increase tax enforcement at the Internal Revenue Service would raise an additional $204 billion in revenue over 10 years, but those effects arenā€™t included in its projections of how the package would affect the deficit.
  • The package would spend roughly $369 billion on climate and energy programs, including tax credits for buying electric and hydrogen vehicles and making energy-efficient home improvements.
  • The deal would dedicate $64 billion to extending for three years the Affordable Care Act subsidies that first kicked in under the 2021 American Rescue Plan. Nearly all of the 13 million people who get federal subsidies under the ACA would be spared from higher health-insurance premiums they would see next year without an extension.
  • It would also cap out-of-pocket drug costs for Medicare beneficiaries at $2,000 a year, beginning in 2025, and starting next year mandate that certain vaccines be free for Medicare enrollees. And it would impose a $35-a-month cap on insulin purchased through Medicare.
  • The proposal would implement a 15% corporate minimum tax, aimed at large companies that report significant profits but pay little or nothing in income taxes, such asĀ Amazon.com Inc.
  • Democrats are also proposing a 1% excise tax on stock buybacks.

https://www.wsj.com/articles/democrats-climate-plan-gets-early-green-light-11659798389?mod=hp_lead_pos1
https://www.wsj.com/articles/whats-in-joe-manchin-and-chuck-schumers-reconciliation-deal-on-climate-health-and-tax-policy-11658973323

 

Reaction

Again, not one Republican voted for this because it’s just a spending bill. So you can imagine there was a lot of reaction.

  • Republican National Committee (RNC) Chairwoman Ronna McDaniel said: “Democrats will pay the price in November for raising taxes on families during a recession,”
    • News for you, though people think we are not in a recession because politicians changed the definition of what a recession is, they do say we are close to one.
  • In a statement, Ted Cruz said: “The Schumer-Manchin bill will drive up inflation and prices, hammer small businesses and American manufacturing, increase the price of gas, and sic the IRS on Americans, all while raising taxes on Americans in nearly every tax bracket including those who make less than $400,000 a year.”
    • He’s right.
    • If you raise taxes on a business that has a certain profit margin, where are they going to recover that money to meet that profit margin?

Marcia Blackburn tweeted:

Mitch McConnell tweeted:

But the best explanation comes from John Kennedy, Senator from Louisiana:

There is something that might save us. The American Rescue Plan, which spent $1.3 trillion and started inflation, not Republican voted for it. This bloated spending bill, not one Republican voted for it. Democrats completely own this.

https://www.foxnews.com/politics/gop-dems-pay-price-midterms-passing-massive-spending-bill