HuffPo -- DEMOLITION DUO: HAVE 'DESTROYED' EVERY OPTION TO PAY FOR BILL

[TheBlackAdder]

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Democrats Hit Tax Snag As They Finalize Build Back Better Deal
“Every sensible revenue option seems to be destroyed,” Sen. Bernie Sanders complained Wednesday.





WASHINGTON ― Democrats’ toughest challenge in finishing a framework agreement for their Build Back Better bill this week might be taxes.

Party leaders are trying to win over two senators who have mutually exclusive demands: Sen. Kyrsten Sinema (Ariz.) won’t support higher tax rates, and Sen. Joe Manchin (W.Va.) doesn’t like the new capital gains tax idea that was supposed to be a palatable alternative.

“Every sensible revenue option seems to be destroyed,” Sen. Bernie Sanders (I-Vt.) said Wednesday, offering a gloomy summary of the conundrum Democrats find themselves in.

“Should we raise corporate tax rates, personal income taxes for the very wealthy? Of course we should, but at least one person in the caucus doesn’t want to do that,” Sanders continued. “Should we demand that the billionaires pay their fair share of taxes? Yes. There’s another person who doesn’t want to do that.”

Democrats are hoping to seal the outlines of a deal by Wednesday evening before President Joe Biden departs the country to attend a global climate conference in Scotland. They can’t move forward until they lock down the revenue side of the negotiations, which will in turn determine what sorts of programs they can include in the bill.


Much more at the jump:
https://www.huffpost.com/entry/biden-taxes-manchin-sinema_n_61798a8ee4b065735743e3d2

And while 50 Republicans roadblock this measure, the attention will be that Democrats failed to deliver.

In part, due to these two who seem to be turncoats.

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[jimfields33]

1. They don't need republicans at all! Just 50 votes is all it takes. Plus VP.

[TheBlackAdder]

2. It's tough to get when only 48 Democrats are onboard and two defect.

[jimfields33]

3. True. Have they tried to get Markowski at all? Collins?

Yes Collins and her concern stuff, but maybe she’d be on board?

[TheBlackAdder]

4. If they were, then Manchin and Sinema would not have any power in these discussions.

[PoliticAverse]

5. Since the reconcillation bill contains a repeal of the SALT cap, the bill may end up cutting taxes

on the rich the way things are going.

[Klaralven]

6. Since it is infrastructure investments, there is no need to pay for them now

Investments that will result in a stream of future benefits are a legitimate use of borrowing since they will result in a stream of future benefits that will pay back the principal and interest.