Biden / Harris Focused Discussion

[Edge-]

https://apnews.com/article/joe-biden...8af3167b253481

Garland likely to be the AG nominee.

[Shadowferal]

https://apnews.com/article/joe-biden...8af3167b253481
Garland likely to be the AG nominee.

Unless some of the dems have an issue, then he's the new AG.

[Milchshake]

You know people are new here when they have no memory of the 60 Blue Dogs in the House and 25 or so Blue Dogs in the Senate in '08. Manchin is one dude.


Transition source confirms Biden's incoming Justice Dept. team:

• Merrick Garland AG
• Lisa Monaco Deputy AG
• Vanita Gupta Associate AG.
• Kristen Clarke Asst AG for Civil Rights.

For the new people. Vanita Gupta and Kristen Clarke are people you pick if you are very serious about civil rights enforcement.
Civil Rights is a big deal in a big Multi Cultural coalition like the Democratic Party.

[js3915]

In order of priority:

More than just $2k for covid relief. I am thinking $2k relief packages in early February, April, June, and September. The virus will be raging at least that long, and people will need the money for just flat out survival.

Severe tax increases on the wealthy and corporations: As soon as republicans complain about a relief package being unaffordable (who's going to pay for it), roll out what Biden campaigned on: cancelling the Trump tax cuts for people making over $400k. This would likely happen in February.

How are you ever going to repay 1.2+ trillion? If they do this US will be a 4th world country a bottle of water will cost 50 dollars

even if you tripled Bill gates and Jeff Bezo's tax it would take hundreds of years to repay this debt

[Elegiac]

How are you ever going to repay 1.2+ trillion?

Dunno, why weren't you asking this question when your boy cut taxes to the tune of 1.8+ trillion in lost revenue that could have been used for said stimulus?

Government is a service, it costs money to run.

[js3915]

Dunno, why weren't you asking this question when your boy cut taxes to the tune of 1.8+ trillion in lost revenue that could have been used for said stimulus?

Government is a service, it costs money to run.

Thats not how government works. Even though doesnt affect me cause i dont pay taxes i was against tax cuts just the same so dont label.

[Shadowferal]

Repealing those damn tax cuts should be among the priorities.

[beanman12345]

Repealing those damn tax cuts should be among the priorities.

Repeal yes, increase taxes on those 400k+ also yes.

[Cthulhu 2020]

Thats not how government works. Even though doesnt affect me cause i dont pay taxes i was against tax cuts just the same so dont label.

Government doesn't work by spending money to provide a service? Man coulda fooled me.

But one thing people don't really seem to ever consider is that the US has been operating under a debt since debt existed. The only times it's ever come close to operating under a surplus is under Democrat presidents. Also, the US could hold ten times the debt it has now and prices for bottles of water would still be less than 50 cents. Why? Because governmental debt does not necessarily affect the price of goods. As long as the US government keeps paying interest to its lenders, nothing bad will happen.

When the US government defaults on its debt, when the US commits war crimes and other countries start sanctioning the US, when nobody wants to trade in US currency internationally, that is when hyperinflation would happen. But big banking institutions are making money off of governmental debt, they ENCOURAGE debt. If the US is suddenly no longer in debt, the banks aren't making as much money. Why do you think banking institutions donate the most money to Republicans? Because Republicans love deficit spending, while Democrats balance the budget. Congrats, your mind just got blown.

[js3915]

Government doesn't work by spending money to provide a service? Man coulda fooled me.

But one thing people don't really seem to ever consider is that the US has been operating under a debt since debt existed. The only times it's ever come close to operating under a surplus is under Democrat presidents. Also, the US could hold ten times the debt it has now and prices for bottles of water would still be less than 50 cents. Why? Because governmental debt does not necessarily affect the price of goods. As long as the US government keeps paying interest to its lenders, nothing bad will happen.

When the US government defaults on its debt, when the US commits war crimes and other countries start sanctioning the US, when nobody wants to trade in US currency internationally, that is when hyperinflation would happen. But big banking institutions are making money off of governmental debt, they ENCOURAGE debt. If the US is suddenly no longer in debt, the banks aren't making as much money. Why do you think banking institutions donate the most money to Republicans? Because Republicans love deficit spending, while Democrats balance the budget. Congrats, your mind just got blown.

Thats not how our money works, i hate to break it to you

[draynay]

Thats not how our money works, i hate to break it to you

Cunning retort.

[Omega10]

How are you ever going to repay 1.2+ trillion? If they do this US will be a 4th world country a bottle of water will cost 50 dollars

even if you tripled Bill gates and Jeff Bezo's tax it would take hundreds of years to repay this debt

America will be in a very bad place if enough stimulus checks aren't sent out to keep people from losing their homes and apartments. And the total of 1.2 trillion is not that much more than the recent stimulus package that WAS passed.

Maybe the virus will go away sooner than I am expecting and a September relief package won't be needed. But it's almost guaranteed that things will be very bad all the way until June.

Virus estimates: January = 150k deaths (5k a day average)

February and March - worse

April - the vaccine starts to reduce the numbers if things go very very well, which so far they have not
May - June - getting better but still very bad, and worse than things are now.

Between July and September it is possible that things will get much better, in which case the economy can legitimately start reopening in maybe late August. Otherwise a September stimulus will also be necessary.

Note that these amounts only end up being 1k a month. That's not much for people to live on, and it's not enough to turn people's lives around. It's barely enough to help people get through the months and survive, which is about all America can afford at this time.

[Zan15]

How are you ever going to repay 1.2+ trillion? If they do this US will be a 4th world country a bottle of water will cost 50 dollars

even if you tripled Bill gates and Jeff Bezo's tax it would take hundreds of years to repay this debt

Lets see, 1.2 trillion dollars over 30 years plus interest would be about

Your estimated monthly payment is $ 4,617,615,486. 140 million estimated taxpayers = 33 dollars a month or 396 dollars a year.
Put this farther out to include everyone since its everyone's debt 330 million people = 13.99 a month or 167.88 a year.


Gee trillions sound really bad till you realize you got 30 years to pay it back at sub 2% interest rates being issued on long term treasury debt and you are talking about hundereds of millions of co-signers on the debt.

you know our GDP is going to be around 850 trillion dollars over those 30 years right?

Estimated tax revenue over the next 30 years is 135 TRILLION dollars.


Gee that 1.2 trillion is not so scary now is it?

Not great but prob better than 80% of homeowners debt ratio/ability to repay.

[Mormolyce]

Repealing those damn tax cuts should be among the priorities.

Wouldn't that kind of legislation require a 60 seat majority? Tax reform is notoriously hard.

In fact that goes for a lot of legislation, the Republicans used the nuclear option on appointments but not regular legislation.

[Mihalik]

Lets see, 1.2 trillion dollars over 30 years plus interest would be about

Your estimated monthly payment is $ 4,617,615,486. 140 million estimated taxpayers = 33 dollars a month or 396 dollars a year.
Put this farther out to include everyone since its everyone's debt 330 million people = 13.99 a month or 167.88 a year.


Gee trillions sound really bad till you realize you got 30 years to pay it back at sub 2% interest rates being issued on long term treasury debt and you are talking about hundereds of millions of co-signers on the debt.

you know our GDP is going to be around 850 trillion dollars over those 30 years right?

Estimated tax revenue over the next 30 years is 135 TRILLION dollars.


Gee that 1.2 trillion is not so scary now is it?

Not great but prob better than 80% of homeowners debt ratio/ability to repay.

It's exasperating that these deficit hawks come out of the woodworks shrieking "Balanced budget" without even a basic elementary understanding of economics or math but are nowhere to be found when the Republicans rack up trillions of dollars of debt by shoveling money directly into the pockets of the Waltons, Kochs and Bezos' of the world.

[Mormolyce]

How are you ever going to repay 1.2+ trillion? If they do this US will be a 4th world country a bottle of water will cost 50 dollars

even if you tripled Bill gates and Jeff Bezo's tax it would take hundreds of years to repay this debt

The Bush tax cuts cost something like five times that. Trump's tax cuts are estimated to add 1.9 trillion in debt in the next nine years. To look at it the other way, repealing them would add that much back to the budget.

It's definitely possible to repay that money, the US's billionaires just really really really don't want to.

I'd make a joke about them needing another diamond encrusted yacht, but realistically even if you tripled their taxes it would make no measurable impact on their lives. This is just a fucking game to them.

- - - Updated - - -

Thats not how government works. Even though doesnt affect me cause i dont pay taxes i was against tax cuts just the same so dont label.

Why don't you pay taxes? No income?

[Cthulhu 2020]

Thats not how our money works, i hate to break it to you

Do enlighten me then, because this is how money has worked in regards to government and the general economy for a long time.

But I will reiterate, US debt amount will not cause inflation unless the US government starts defaulting on debt. Banks love the US government being in debt, the more they're in debt, the more money banks make off of interest.

[Paranoid Android]

Repealing those damn tax cuts should be among the priorities.

Let's hope the corporate Democrats don't interfere with this. Besides the right policy and I hate to say this, but punishing these assholes who supported fascism cause they got tax cuts is much needed.

[Zeth Hawkins]

https://twitter.com/cspan/status/1347272949284425728

Seems Harris has bought into the idea of police letting the protesters into the Capitol Building.

(Posting this here as it is Harris focused, though it could also go in the insurrection/rebellion thread)

[Edge-]

https://twitter.com/cspan/status/1347272949284425728

Seems Harris has bought into the idea of police letting the protesters into the Capitol Building.

(Posting this here as it is Harris focused, though it could also go in the insurrection/rebellion thread)

She's right.