Current Events > Senate passed inflation reduction act

(+) Yeah! (+)

It addresses inflation, climate change and medicine and health care prices.

this POTUS is awesome.

Of course the Republicans prevented the insulin price cap from passing. To spite the libs

Good.

Oh joy

Rathinor posted...

Of course the Republicans prevented the insulin price cap from passing. To spite the libs

Next week: "Why didn't the Democrats cap insulin costs? They claim to want to help, but they are instituting death panels as demanded by their Big Pharma overlords."

Solid_Snake07 posted...

Oh joy

So you like people dying because of healthcare costs? I won't be happy until they're basically zero. We can tax the rich more to cover what is the most important right in the entire world.

Seems decent, imo

Maybe Biden needs covid more often...Just kidding but hey Dems have been on a roll..

Don't know why it took awhile to light a fire under their asses but not bad..

hockeybub89 posted...

Next week: "Why didn't the Democrats cap insulin costs? They claim to want to help, but they are instituting death panels as demanded by their Big Pharma overlords."

and the Bernie and AOC crowd will say this is why I cant vote for Biden in 2024, I am just not excited or inspired to vote, he is a neocon

We already had this topic. The bill costs $700 billion, sets aside about $400 billion for green energy subsidies, and then sets aside $300 billion to "fight inflation" even though the bill itself is only claiming to raise about $300 billion in taxes over 10 years.

Allowing Medicare to negotiate drug prices is one of those great "why hasn't this been a thing for decades" addition, but it's not really going to fight climate change and it's not really going to fight inflation.

You know what really helps with inflation? Reducing deficit spending.

https://gamefaqs.gamespot.com/a/user_image/7/8/2/AAeEwGAADigm.jpg

uh oh s0nicfan is grumpy lol

How is it addressing inflation exactly?

DarkRoast posted...

You know what really helps with inflation? Reducing deficit spending.

The best way to reduce deficit spending is to tax the fuck out of the rich so that your spending is no longer deficit spending.

Tyranthraxus posted...

The best way to reduce deficit spending is to tax the fuck out of the rich so that your spending is no longer deficit spending.

[Unintelligible screeching ensues]

MrAndersonWb posted...

It addresses inflation, climate change and medicine and health care prices.

this POTUS is awesome.

Correction: The POTUS is trying to reap what he sowed by November.

It's been a great week.

Antifar posted...

Seems decent, imo

A rare (mild) compliment!!! :)

s0nicfan posted...

We already had this topic. The bill costs $700 billion, sets aside about $400 billion for green energy subsidies, and then sets aside $300 billion to "fight inflation" even though the bill itself is only claiming to raise about $300 billion in taxes over 10 years.

Allowing Medicare to negotiate drug prices is one of those great "why hasn't this been a thing for decades" addition, but it's not really going to fight climate change and it's not really going to fight inflation.

Didn't @Sackgurl explain how this works out better in a previous thread?

Ruvan22 posted...

Didn't @Sackgurl explain how this works out better in a previous thread?

Sort of. They pointed out that its potential for the rest of the cost to be offset by reduced medicare drug prices, but that both hinges on negotiations actually having a significant impact AND next year's congressional budget being reduced by at least $300B. It has the potential to pay for itself through drug price savings, but only if future budgets actually allocate LESS towards medicare to offset the savings (edit: to further clarify, I was wrong that medicare is a "use it or lose it" line item, so the budget reduction doesn't have to come directly from medicare in the congressional budget, as long as it comes from anywhere else for the matching amount). Otherwise if the overall budget stays the same or goes up than said "savings" just get spent on something else and the deficit isn't impacted. That being said, a plan which has the potential to pay for itself over a decade or more still doesn't actually meaningfully address inflation as the name would imply, since it's still operating at a $400B funding deficit with the potential to pay for itself over time.

Glad this will be Manchin's final term misrepresenting the voters of West Virginia. His career won't survive this one.

Its better than nothing. Thats the most enthusiasm I can muster for it though.

Republicans have no business complaining about pork spending after the deficit spending they've done in the past three decades.

Doesn't it still have to go through the house?

IdiotMachine posted...

Doesn't it still have to go through the house?

Yes. It should pass without issue.

Theyre back in session on Tuesday.

Now the real question is if they can find a way to codify human rights for women and minorities.

Tyranthraxus posted...

The best way to reduce deficit spending is to tax the fuck out of the rich so that your spending is no longer deficit spending.

France has tried this on several occasions. All it ever does is increase revenue... for Belgium, when the rich flee there.

wow the government is discriminating against fetishes now, what has our country become :(

ThePrinceFish posted...

Glad this will be Manchin's final term misrepresenting the voters of West Virginia. His career won't survive this one.

Aww, you seem butthurt

Questionmarktarius posted...

France has tried this on several occasions. All it ever does is increase revenue... for Belgium, when the rich flee there.

Won't work anymore next year.

https://www.loyensloeff.com/insights/news--events/news/the-new-double-tax-treaty-between-belgium-and-france/

Rathinor posted...

Aww, you seem butthurt

the retort of a 12 year old

What_ posted...

the retort of a 12 year old

That dude is a Trump slurper, he's not worth more than that

What will it do that won't just add to the national debt and why is there stuff like climate change if the bill is for inflation reduction?

Beast_Le_Chonk7 posted...

What will it do that won't just add to the national debt and why is there stuff like climate change if the bill is for inflation reduction?

https://gamefaqs.gamespot.com/a/user_image/4/0/6/AADgb_AADgdu.jpg

Thanks, though that fifth bullet is probably the most sus. If it lowers inflation within the year, that would hopeful.

Tyranthraxus posted...

The best way to reduce deficit spending is to tax the fuck out of the rich so that your spending is no longer deficit spending.

I'm more in favor of withdrawing from NATO, repealing the law that insists we have 11 Aircraft carriers, slashing military funding, and going back to minding our own business like we did before WWI and II. Instead of increasing revenue, slash funding. Unfortunately the biggest slashes, like cutting pay, would hurt the members of Congress so they'll never happen.

And who is going to foot the bill for this act?

Rathinor posted...

That dude is a Trump slurper, he's not worth more than that

So is What_

Crazyman93 posted...

I'm more in favor of withdrawing from NATO

You are insane for suggesting this and I don't even need to read the rest of your ideas. This is bordering on Brexit levels of dumb.

Crazyman93 posted...

Unfortunately the biggest slashes, like cutting pay, would hurt the members of Congress

Congressional pay is by no means a big chunk of the federal budget.

Irony posted...

So is What_

Oh thought he was that Alan French dude, not a high school dropout MAGAt

FLOUR posted...

And who is going to foot the bill for this act?

not you or 99.9% of Americans!

Rathinor posted...

Oh thought he was that Alan French dude, not a high school dropout MAGAt

Who is Alan French

Irony posted...

Who is Alan French

FrenchCrunch I think? He always posted here as an enlightened centrist, but he hated Trump. Just shit all over democrats a lot more

FLOUR posted...

And who is going to foot the bill for this act?

No matter what Congress claims, the little person. As usual. Financially our elected officials are just as well off as the people this bill claims they want to pay their share. Congress will not hurt their own interests.

Tyranthraxus posted...

You are insane for suggesting this and I don't even need to read the rest of your ideas. This is bordering on Brexit levels of dumb.

What do we actually GET from NATO besides basing rights? No seriously, we foot the bill, and a bunch of tiny countries put up on Corps worth of people, and then if Russia looks at them they wave Article 9 around and warn them the US will save their ass. Fuck that. Slash the budget, and while we're at it, fold the Marine Corps into the Army, we don't need two ground forces that are doing basically the same mission right now.

Hell yes! This is significant for me. The solar tax credit increases from 26% to 30%. As long as I can get the system turned on by the end of the year, I'll be getting a huge tax return next year.

Crazyman93 posted...

What do we actually GET from NATO besides basing rights

We get allies. Actual real allies and not the bullshit "China is an ally" talk because they let us build factories there. The treaty covers basing rights. The relationships that we've built internationally because of NATO related diplomacy is what elevated the USA and makes the USD the world reserve currency.

Meh bill. Insulin smacked down. 5211 smacked down. It has wins. It has losses. More wins I guess.

I mean, yay for some things though at least.