Biden Actions ... And Reactions

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Is Labor Market Really as Good as Biden Administration Says?​

A recent tweet on the Democrats’ official Twitter page stated, “Under Joe Biden, the private sector has recovered all of the jobs lost during the pandemic—and added jobs on top of that.”

That statement is only half true, at best.

According to the official jobs numbers from the Bureau of Labor Statistics, private-sector jobs are up by about 140,000 since the low in April 2020, but only 4 in 10 of those job gains occurred on the Biden administration’s watch, while 6 in 10 were recovered during the Trump administration.


While the labor market appears to be going well by some metrics, that’s not the whole story.

Metrics like a nearly half-century-low unemployment rate, high nominal wage gains, and 11.3 million job openings that equal two jobs available for every unemployed person didn’t arise naturally. They were artificially induced through bad government policies that have included a lot of unintended consequences.

Most significantly, 18 months’ worth of bonus unemployment benefits that paid most people more to stay on the sidelines than to work caused millions of people to leave the labor market. Meanwhile, Washington stimulated consumer and business demand for goods and services by flooding the economy with trillions of dollars in so-called COVID-19 relief, about half of which was money printed by the Federal Reserve.

Too few workers is also adding to the inflationary cycle.

 

[herb749]

Is Labor Market Really as Good as Biden Administration Says?​

A recent tweet on the Democrats’ official Twitter page stated, “Under Joe Biden, the private sector has recovered all of the jobs lost during the pandemic—and added jobs on top of that.”

That statement is only half true, at best.

According to the official jobs numbers from the Bureau of Labor Statistics, private-sector jobs are up by about 140,000 since the low in April 2020, but only 4 in 10 of those job gains occurred on the Biden administration’s watch, while 6 in 10 were recovered during the Trump administration.


While the labor market appears to be going well by some metrics, that’s not the whole story.

Metrics like a nearly half-century-low unemployment rate, high nominal wage gains, and 11.3 million job openings that equal two jobs available for every unemployed person didn’t arise naturally. They were artificially induced through bad government policies that have included a lot of unintended consequences.

Most significantly, 18 months’ worth of bonus unemployment benefits that paid most people more to stay on the sidelines than to work caused millions of people to leave the labor market. Meanwhile, Washington stimulated consumer and business demand for goods and services by flooding the economy with trillions of dollars in so-called COVID-19 relief, about half of which was money printed by the Federal Reserve.

Too few workers is also adding to the inflationary cycle.

Give the new Batter Back Business agenda some time to force job cuts and unemployment numbers will increase. Then let them try saying there's no recession.

 

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Biden expected to sign $280 billion CHIPS Act, critics fear it will worsen debt and inflation​

Critics say the measure contains no accountability requirements for companies that receive the taxpayer dollars, will increase the national debt and 40-year-high inflation, and won’t strengthen national security.

The bill passed the U.S. Senate by a vote of 64-33 with 17 Republicans joining Democrats in approving it. It passed in the House by a vote of 243 to 187, with 24 Republicans joining 219 Democrats despite Republican leadership opposing the bill.

Biden expressed his support, tweeting, “Semiconductor chips are the building blocks of the modern economy – they power our smartphones and cars. And for years, manufacturing was sent overseas. For the sake of American jobs and our economy, we must make these at home. The CHIPS for America Act will get that done.”

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“Even worse, the bill lacks basic safeguards and would allow corporations to use American tax dollars to build factories in Communist China and expand their share of the Chinese semiconductor market.”

There’s no requirement in the bill for manufacturers to build a certain number of plants in the U.S., he added, or require them to not outsource American jobs overseas. The bill includes no chip quota production requirements for manufacturers and instead “works like a blank check with virtually no accountability measures to protect the massive taxpayer spending it authorizes and no ROI requirements.”

It doesn’t improve U.S. national security and instead is a “huge spending bill funded with Americans’ tax dollars that gives corporations and Communist China everything they want while leaving American workers and American families with little in return,” he said.

 

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“The Inflation Reduction Act of 2022 will lower health care costs for millions of Americans,” Biden claimed in a tweet Sunday afternoon. “And, for the first time in a long time, make the largest corporations pay their fair share without any new taxes on people making under $400,000 a year.”

Republicans on the Senate Finance Committee released data Saturday from the nonpartisan Joint Committee on Taxation (JCT) that showed that taxes will increase in calendar year 2023 for everyone under the plan except those making between $10,000 and $30,000 per year.

Those making under $10,000 will see a .3% increase in their federal taxes; those making between $30,000 and $75,000 will see a .1% increase; those making between $75,000 and $100,000 a .2% increase; those making between $100,000 and $500,000 a .3% increase; those making between $500,000 and $1,000,000 a .5% increase; and those making over $1,000,000 a year will see a .6% increase, according to the JCT.

CNN broke down the new taxes a different way, reporting that the tax increases next year would total $16.7 billion for Americans making less than $200,000 per year; $14.1 billion for those making between $200,000 and $500,000 a year, and $23.5 billion for those making $500,000 or more per year.

Biden Claims Legislative Deal On His Agenda Won’t Raise Taxes On People Making Less Than $400K; Report Says Otherwise | The Daily Wire

www.dailywire.com

 

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‘You’re not gonna get Covid if you have these vaccinations’ – Biden fails own fact check with back to back Covid infections​

 

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“The Inflation Reduction Act of 2022 will lower health care costs for millions of Americans,” Biden claimed in a tweet Sunday afternoon. “And, for the first time in a long time, make the largest corporations pay their fair share without any new taxes on people making under $400,000 a year.”

Republicans on the Senate Finance Committee released data Saturday from the nonpartisan Joint Committee on Taxation (JCT) that showed that taxes will increase in calendar year 2023 for everyone under the plan except those making between $10,000 and $30,000 per year.

Those making under $10,000 will see a .3% increase in their federal taxes; those making between $30,000 and $75,000 will see a .1% increase; those making between $75,000 and $100,000 a .2% increase; those making between $100,000 and $500,000 a .3% increase; those making between $500,000 and $1,000,000 a .5% increase; and those making over $1,000,000 a year will see a .6% increase, according to the JCT.

CNN broke down the new taxes a different way, reporting that the tax increases next year would total $16.7 billion for Americans making less than $200,000 per year; $14.1 billion for those making between $200,000 and $500,000 a year, and $23.5 billion for those making $500,000 or more per year.

Biden Claims Legislative Deal On His Agenda Won’t Raise Taxes On People Making Less Than $400K; Report Says Otherwise | The Daily Wire

www.dailywire.com

The lower healthcare costs are extending the subsidies by billions on Obamacare .

 

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I don't think him killing someone because of his covid would change democrats minds about the job he's doing.

 

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Tom Cotton Says Biden Leaked Pelosi's Taiwan Trip to Beijing​

In an interview earlier in the week, Cotton said it's common knowledge on Capitol Hill that Pelosi's plans to visit Taiwan were leaked to the Chinese Communist Party in Beijing by none other than President Joe Biden himself.

"Well the word I've heard in Congress is that the leak of Nancy Pelosi's trip came straight from the White House, the pressure came from Joe Biden who doesn't want her to take this trip because he's once again kowtowing to Beijing," Cotton explained to Laura Ingraham on Fox News Channel. "But Lloyd Austin and Joe Biden shouldn't be worried about China's aggressiveness, they should be making China worry about our aggressiveness," he noted. "For decades, American lawmakers have been traveling to Taiwan — of both parties — and that should continue now, especially after it became public," Cotton urged.

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If the scuttlebutt up on Capitol Hill is true, it's a whole new level of Democrats in disarray for Democrat President Joe Biden to be leaking plans for the Democrat Speaker of the House's travel to America's foe China. The White House, of course, has been spinning in recent days to claim that there's a separation of powers between their executive branch role and Pelosi's leadership in the legislative branch, but all the emphasis on the fact that Pelosi can do what she wants and travel where she pleases makes the situation something of a "doth protest too much."

After Chinese state media declared that the genocidal and maniacal Chinese Communist Party's forces might shoot down Pelosi's plane if she attempted to travel to Taiwan, the lack of strong condemnation (in video below) from the White House only made their alleged complicity in spilling the beans on Pelosi's plans all the more believable.


https://townhall.com/columnists/oli...re-plummeting-n2611097?utm_campaign=inarticle

 

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President pudding cup, Joe Biden, issues a threat following 9/11 attacks, some 20 plus years later

twitchy.com

 

[GURPS]

There Is No Private Equity Loophole​

Take a quick look at how partnership tax has always worked for people outside the private equity world. Assume three friends join together to buy a struggling local donut shop for $10,000. They believe by upgrading the menu and improving the service, they can turn a money-losing operation into a going concern.

One friend puts up the money and is awarded 80% of the future partnership gains after his money is repaid; one is awarded 10% ownership in any future gains because he had the idea; and one will work as the manager of the store with 10% ownership of any future gains, beyond his normal salary. In tax language, the idea guy and the working guy are known as "service partners" since they got their ownership for services, rather than capital.

Under standard partnership tax law for decades, all three owners of the business are taxed the same on their pro rata pieces. This is true for all types of partnerships and all types of industries (private equity-supported or not), and was already true long before the notion of a private equity firm ever existed. There is no tax due on Day One because the existence of any future gains is uncertain. If the donut shop is ultimately successful and later sold at a price beyond the original $10,000 price, then there would be a capital gain. All three partners would receive their pro rata share of the gain and pay their pro rata share of the capital gains taxes: 80% of the gains and taxes to the first, and 10% of the gains and taxes to each of the other two.

Ownership for service partners is commonly known as "sweat equity," and in private equity, it has been known as "carried interest." At my firm, New Mountain Capital, we now have a team of over 200 people who help build the businesses we buy, using both our own money and money from our institutional capital partners. The tax rules for service partners in PE were always the same as for service partners in other fields, until recently when the rules were made worse for PE under the Trump administration. One business journalist, Mark Vandevelde of the Financial Times, recently claimed that a 1993 IRS regulation known as Revenue Procedure Ruling 93-27 was the source of private equity’s advantage. But the IRS interpretation merely reaffirmed what the tax law had always been, and it was about service partners in general, not private equity firms specifically.

The ability to have "service partners" and "sweat equity" – to include people into the ownership of partnerships for their ideas and energy, rather than for their money – has been fundamental to American entrepreneurialism. A kid writing software code in his dorm room can have ownership in his software partnership for no dollars at all. A local entrepreneur can borrow his entire starting stake and own 100% of his enterprise with no money of his own at risk at all.

 

[TPD]

Just a reminder of a president we used to have...

 

[herb749]

Tom Cotton Says Biden Leaked Pelosi's Taiwan Trip to Beijing​

In an interview earlier in the week, Cotton said it's common knowledge on Capitol Hill that Pelosi's plans to visit Taiwan were leaked to the Chinese Communist Party in Beijing by none other than President Joe Biden himself.

"Well the word I've heard in Congress is that the leak of Nancy Pelosi's trip came straight from the White House, the pressure came from Joe Biden who doesn't want her to take this trip because he's once again kowtowing to Beijing," Cotton explained to Laura Ingraham on Fox News Channel. "But Lloyd Austin and Joe Biden shouldn't be worried about China's aggressiveness, they should be making China worry about our aggressiveness," he noted. "For decades, American lawmakers have been traveling to Taiwan — of both parties — and that should continue now, especially after it became public," Cotton urged.

[clip]

If the scuttlebutt up on Capitol Hill is true, it's a whole new level of Democrats in disarray for Democrat President Joe Biden to be leaking plans for the Democrat Speaker of the House's travel to America's foe China. The White House, of course, has been spinning in recent days to claim that there's a separation of powers between their executive branch role and Pelosi's leadership in the legislative branch, but all the emphasis on the fact that Pelosi can do what she wants and travel where she pleases makes the situation something of a "doth protest too much."

After Chinese state media declared that the genocidal and maniacal Chinese Communist Party's forces might shoot down Pelosi's plane if she attempted to travel to Taiwan, the lack of strong condemnation (in video below) from the White House only made their alleged complicity in spilling the beans on Pelosi's plans all the more believable.


https://townhall.com/columnists/oli...re-plummeting-n2611097?utm_campaign=inarticle

Just saw she stopped in Taiwan. Now its all a set up. Telling her now to go makes her brave and then Biden will say he knew and will look tough for standing up to China. Watch the spin.

 

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In his videotaped remarks to the MEK, obtained by Just the News, Menendez made clear he believes the Biden administration is wasting its time seeking a deal with an Iranian regime engaged in wide-ranging hostile activities across the globe, including some in collaboration with Russia.

"It continues to support terrorism abroad and advance its nuclear capabilities at home," Menendez said. "Unfortunately, despite severe overtures from this administration to engage in a constructive dialogue on Iran's nuclear program, a return to the 2015 deal is not only unrealistic and unproductive. It is a fantasy."

He added: "Iran is drawing out negotiations with delay tactics and brinkmanship. Meanwhile, it partners with Vladimir Putin to provide drone technology to deploy in its illegal war in Ukraine. And Iran continues to advance its nuclear program in the face of the international community's censure."

Behind closed doors, Democrat Senate chairman dismisses Biden's pursuit of Iran deal as ‘fantasy’

New Jersey Sen. Bob Menendez tells Iranian dissident group the administration's drawn-out negotiations with Tehran are "unrealistic and unproductive."

justthenews.com

 

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Consider some of the first acts Biden took after leaving office as vice president in 2017. Upon signing a book deal, he used the proceeds to increase his real estate portfolio. On top of the mansion he already owned in Wilmington, Delaware, he bought a nearly 5,000 square foot “beach house” in Rehoboth Beach.

When asked about the purchase, Biden told a local paper that the move had fulfilled a lifelong dream to own a beach house. Apparently, solving the “climate crisis” took a backseat to buying another mansion—and increasing his carbon footprint in the process.

In addition to the Wilmington estate and his Rehoboth “beach house,” Biden also rented a mansion outside Washington upon leaving the vice presidency. That palace boasts nearly 12,000 square feet of living space—one-third larger than the vice president’s residence Biden left. It also includes parking for more than 20 cars—making the home not very eco-friendly—a gym, a sauna, chandeliers in the entrance lobby, and a grand piano in a music room/parlor.


Take a look at a picture of the house from Zillow and ask yourself: Does the person who lives here look like someone who cares a lot about the “climate crisis”?

Biden Is A More Problematic Climate Hypocrite Than Kylie Jenner

Biden’s actions show he’s perfectly content to let working families suffer, while indulging in his own desire for luxury and comfort.

thefederalist.com