Is Biden winning as he and the media claim?
Democrats are taking victory laps for all Biden’s “achievements.” Of course, the Democrat’s crony media is hyping the White House narrative. They are claiming that things are turning around for the most unpopular President in American history (according to the polls).
According to White House Chief-of-Staff Ron Klein, Biden will be sending his Cabinet to travel across the country to tell the people what good things Democrats have done for them. (Don’t Cabinet members have better things to do?) After Labor Day, the White House is planning a major celebratory event – which I suspect will get better coverage than the Fourth of July.
It makes one wonder why it takes sooo much marketing to convince the folks at home that they are getting all those wonderful benefits. Is it because the folks back home do not believe in all those benefits?
Democrats and their media allies have been whining a lot lately that the public does not understand all the good Biden is doing because of “messaging”. It is not the product, but the messaging that is the problem. It reminds me of all the advertising of the wonders of the Edsel. If you apply Democrat thinking, it was merely the “messaging” that resulted in bad sales.
Those on the left claim that it is all a lack of “messaging” when, in fact, they have had the major left-wing media hyping the Democrats’ good news narratives full time. The Big Seven (ABC, CBS, NBC, CNN, MSNBC, New York Times and Washington Post) and others have been pumping up the Biden accomplishments on a permanent loop.
Why are Democrats so worried that we the people will not appreciate Biden’s work without massive public relations, advertising and direct salesmanship? Why does the “message” have to be drilled into the public consciousness over and over?
Methinks the public may have a different view. Maybe the people DO understand the Biden “achievements” and … (Democrats should brace themselves) … they do not like them. You may have noticed that every time we do not embrace left-wing propaganda, Democrats and the left-wing media say we are ignorant or evil.
Only the most gullible or partisan would take what Biden, Democrats and the media say at face value. Exaggerated and even false claims are part of their DNA. Just look at what they labeled this latest “accomplishment” – the Inflation Reduction Act, even though the Congressional Budget Office and virtually every economist has said it does not address inflation at all — or adds to it. If Congress were a private business, they would be charged with fraudulent advertising.
Biden says his legislation will reduce the cost of medicines. He does not tell the people that it will apply only to SOME medicines – and any potential benefits may not be seen until 2026, if then.
Biden brags that he is sticking it to big business by creating a minimum 15 percent tax – a tax increase that will be passed on to the consumers. He does not tell the folks back home that businesses do not actually PAY any taxes – but pass the cost on to the consumer. That is you and me – hitting hardest on the poorest of us.
Biden says that no one with an income under $400,000 will see a tax increase in his misnamed Inflation Reduction Act. He does not talk about the taxes that will indirectly flow to the middle class. And he will be adding an army of new IRS agents to collect alleged taxes from everyone – not just the super-rich. I say “alleged” because many people dispute the taxes owed.
Biden is counting on the American people to be gullible. We are not supposed to understand that all that spending is going to put inflationary pressures on the economy. Yes … the Inflation Reduction Act is more than likely going to result in future inflation.
Biden and the Democrats are counting on the people not to know the history of such government proposals. If you are not aware of the history, pay close attention.
When Government officials tell you how much their program will cost – and how much economic benefit will be received, you can bet that the revenue to be generated will fall far short of the projections and the cost will far exceed the projections. Think of the current size of the National Debt (approaching $30 trillion) and all those past promises that the latest proposals would reduce it. Uh huh.
In terms of climate change, the $369 billion dollar expenditure is not likely to make much difference in human carbon omissions – and have virtually no impact on global warming. So say leading climatologists. What the Biden legislation does is pick winners and losers in providing energy to the American people. They are providing tax subsidies to solar and wind energy companies even though the scientists tell us that they cannot provide sufficient energy at an affordable price. In the future, you will pay for your energy in your personal electric or gas bill – and you will pay for Biden’s subsidies in your tax bill. (Is that a hidden tax increase?)
The problem with the Biden legislation is NOT “messaging”. It is the legislation itself. Unfortunately, Democrats have passed the damn thing – and now we and future generations will be paying a high cost in money and lifestyle because of it. But the federal government will grow – which is the Democrats’ primary interest.
Democrats have said that you and I will see the effects of the legislation. I am sure we will – but not in the way Biden is telling us.
So, there ‘tis.
Biden couldn’t win a pissing match
BIDEN’S BRAIN IS NOTHING BUT A PISSING FIELD WITH ROCKS ROLLING AROUND IN A FIELD OF SHIT
Anyone that believes anything that biden or any democrat says need to have their brain tested for stupid. EVERY WORD OUT OF BIDENS MOUTH IS A LIE WOULDN’T IT BE NICE IF WE COULD ALL GO ON A VACATION AND GET 30 MILLION DOLLARS THAT SOMEONE ELSE WOULD PAY FOR. THEN COME OFF THAT VACATION ONLY TO GO ON ANOTHER VACATION. THEN TAK 500,000 DOLLARS OF SOMEONE ELSES MONEY AND BUILD A WALL AROUND YOUR HOUSE. SOMEONE SHOULD BUILD A WALL AROUND BIDEN AND AND NEVER LET HIM SEE A PLANE OR A PEN OR THE WHITE HOUSE EVER AGAIN. YOU PEOPLE THAT INSIST ON VOTING FOR THIS IDIOT NEED TO JOIN HIM BEHIND THE WALL AND NEVER BE ALLOWED TO VOTE AGAIN.
Impeach the Illegitimate presidency of Biden and harris for Treason and Sedition against the American People and the America Vote out the Nazis AKA the democratic party and Rino’s and progressives Next election We The People Demand our country back from the Evil Politicians in Washington DC swamp
my, my, sunk to bathroom humors and desiring all Democrats be incarcerated or removed.
what a boring single-minded country you desire, just a bunch of brownshirts all marching lock-step in the same direction, anyone who missteps must be punished or worse from the party of law and order, free speech, and book burning….
good input on the IRA, way to stay on point.
Larry, as always, you are protected by free speech laws in this country for voicing your opinions targeting the president’s policies. If, as your cronies say over and over, our present government is comparable to a banana republic then you could expect the FBI pounding on your door.
If Republicans with their autocratic version for governing gain majority, then they promise exacting their hostility in revenge. Then, our experiment in democracy will not be just threatened, but be overthrown.
Those of your party in Congress most vocal are
not stood up to by the rational adult Republicans in the room. The Trump loyalist accept the Trumps false notion of a stolen election. Pandering to the former president’s wishes gained his backing of some for their primary runs. And, if these persons become representatives in government and swing policy to the extreme right. We may see utter chaos in Washington and various state capitals. This could be the case in Michigan, where I live.
Trump repeats his propaganda stating falsehoods and debunked conspiracy theorists at every rally and opportunity. He, too, is protected by the same free speech laws even when it is damaging and harmful to our Republic. Your doom saying and expressed opinions repeatedly is messaging you want PBP readers hearing and agreeing to is similar to Trump’s pushing his agenda. It’s all about him. The difference only being, his organization receives grifted millions in USD a week from the most gullible of supporters. While, you have what compensation PBP may offer.
The point is, there is such a deafening noise coming from all media brand stripes each supporting its own message. The administration’s work becomes lost in a flood of information received by us by the hour. Here and there legislation, Biden proposals, make the news. Accumulating information from the mass specific to Biden legislation and with in context takes concentration and effort. Its unified messaging lost.
You do not like what message the Administration wants heard. But, many in America want to hear the Administration speak the message.
The Republicans have offered not a peep other than voting block against all proposed bills the majority brings. But, Republicans are very vocal in media like twitter. They chirp nonsensical claims proving cluelessness is prevalent and reality does not faze them. Either they are owned by Trump or afraid of openly opposing him. Both render the same result, being ineffective in their posts.
The problem is if you are one of the elite then you will probably like the demorats policy as a Democrat myself I don’t like their policy if you and the other two nuts on here protected by free speech spewing hate but no evidence of any good pedofile biden has done is amazing I don’t like paying for my food gas electric your wind and solar might work in a perfect world but we don’t live in a perfect world the whole point is man does not control the wind or sun it only blows and shines when the one who controls it says so this country can not survive without using some fossil fuel it happen to be put there for a reason someone mentioned solendra all that done was cost the tax payers millions that went in politicians pockets if it was a good idea then why did they go belly up it take fossil fuel to produce the things that your so called clean energy needs it’s amazing that china keeps building coal fired power plants they love the clean energy nuts makes them a lot of money
Methinks the lady doth protest too much…..
Larry rarely sees Democratic legislation that he likes, that’s expected of a zealot who puts up with Trump’s antics because he gets the policies he wants. Character does not matter to Republicans. Matter of fact, being a Republican, he rarely sees any legislation he likes unless it bans, blocks, cuts, punishes, or deports someone.
L agree, he is right, the name is silly. But Manchin needed a new name, that’s a good idea. They just picked a silly one. As Larry notes, CBO concludes it is less inflationary, albeit a statistically insignificant factor. That’s good news. It does not cause inflation, according to the CBO. The CBO says it will have downward inflation pressure.
After repping out the CBO conclusions, Larry concludes: “Yes … the Inflation Reduction Act is more than likely going to result in future inflation.” He lists no sources, and his support is: “We are not supposed to understand that all that spending is going to put inflationary pressures on the economy,” something that the CBO, and most economists have never said. He adds: “We are not supposed to understand that all that spending is going to put inflationary pressures on the economy.” This is coming from a guy who “hates the man, loves the policies of the largest tax cut and spender in US history owning the hugest deficit(s) ever, and raising the debt to it’s highest level yet. He does not note that Biden has lower actual and projected deficits than Trump resulting in a slowdown of the debt increase rate that Trump had set. It seems that when it’s his guy, it’s OK, when it’s not, it’s the end of the world as we know it, even if it’s an improvement over his guy. That’s why he concludes there will be inflation, the plan estimates are wrong. Where was he when his guy said his economic plan would result in 4% or more in GDP growth and then delivered the worst record since Herbert Hoover and The Great Depression? No, Larry, if you say it will cause inflation, you really need some support, not just hot air and unsupported expectations. Just saying “lots of people say it,” does not do the trick.
He then complains about getting back taxes from tax cheats because they might be middle class as being a bad thing. Why is the law and order party against enforcing tax law? How can one even tell the tax policy is working if everyone is cheating? Weird. He piles on top that charging a fair tax to businesses will flow immediately and directly to price; it will not. If it did, wouldn’t prices go up and down almost every day? Of course, it does not work that way. Connected but not necessarily a direct one-to-one correlation. Also, he is taxing businesses, not individuals. That’s an important difference since individuals can avoid many of Larry’s so-called individual tax increases via price increases simply by not buying or picking alternative products. If they do that enough, uh oh — that’s deflation! He pooh poohs lower drug prices because it starts with 10 drugs in 2026. That’s ten drugs more and a fuck of a lot sooner than any Republican legislation. And more drugs will be added in 2026.
And then he’s against upping the tax for $400K and higher incomes. Amazing. Even they want to pay more taxes, many are just embarrassed at what they don’t pay.
And on the environment: 1) it’s always better to pollute less than to pollute more. 2) ultimately, we will break from coal and oil, it’s inevitable. 3) it’s a pretty clean industry that will be sustainable until the sun explodes, a good place for a life-time career. Is there any real reason that this is not a positive investment in higher energy supplies and lower energy prices in the future? As the prophet Mickey said in Rocky II: “what are we waiting for, take this!” So why not get started? Why not breathe cleaner air, drink cleaner water, sooner than later as Larry would desire? As far as I can tell, Obama’s energy efforts were all positive, even with Solyndra. The program turned a profit to the taxpayer and we got more, more efficient vehicles, more solar at commercial and residential levels, and cleaner energy all around. All seemed good to me, especially the profit part —- don’t see that much. Then again, you think Trump was profitable, oye.
I agree it’s a silly name. I agree it will pick winners and losers, so did Trump’s tax cut deficit doubling policy. Hell, that one targeted me and my high property taxes for further punishment. So does any legislation, unfortunately. IMO, I think investing in America, laying the foundation for a cleaner environment, lowering medical costs, getting people to pay their taxes.
This is all wrapped around Larry’s lament that Democrats need to advertise this bill, improve their messaging, because that alone proves it’s a bad bill. Maybe they need to advertise against all the things Larry and Trumplicants are making up as to why this bill will end our lives as we know them. It’s the best that the party that can pass no legislation, the just say no, know nothings, can do. Sigh.
Talking about character? I guess you don’t want to talk about Biden, he has no character, he is a walking zombie.
The name “Inflation Reduction Act” is directly from the Biden Ministry of Truth. He sold this to the American people and it is a lie, perpetrated to pass the liberal agenda. If you don’t see how this will increase rather than decrease inflation, then take an economics 101 course at your local community college.
Solyndra? Really? A liberal greenmail operation that sucked in federal dollars and then went bankrupt? That may be the stupidest thing you have ever said, and that is saying something!
Joe, my goodness, you are saying things that are as dumb as a brick and you seem all to willing to double down. Why don’t you at least check before you firmly plant your foot in your mouth?
“If you don’t see how this will increase rather than decrease inflation, then take an economics 101 course at your local community college” is really not a supported, valid, argument whether right or wrong, which no one can tell. It’s pretzel logic to say “if you can’t see it, you need more education.” That, in no way, proves the IRA causes inflation.
“The nonpartisan Congressional Budget Office concluded this month that the changes would have a “negligible” impact on inflation this year and next. And the University of Pennsylvania’s Penn Wharton Budget Model concluded that, over the next decade, “the impact on inflation is statistically indistinguishable from zero.” OK, maybe I should go to school OR maybe you should listen to leading economists at the CBO and Wharton School. https://apnews.com/article/inflation-biden-health-congress-climate-and-environment-63df07e15002c01fb560a6f0e69fcb03
Economists at PWMB say: “The Act would very slightly increase inflation until 2024 and decrease inflation thereafter. These point estimates are statistically indistinguishable from zero, thereby indicating low confidence that the legislation will have any impact on inflation.” Should they turn in their phd’s?
If you look, you would have seen, as I said: “As Larry notes, CBO concludes it is less inflationary, albeit a statistically insignificant factor. That’s good news. It does not cause inflation, according to the CBO. The CBO says it will have downward inflation pressure.” Most, well-educated- economists agree. Joe says they are all wrong, he’s a idiot-savant economist.
And then, your next act of head in the sand states: “Solyndra? Really? A liberal greenmail operation that sucked in federal dollars and then went bankrupt? That may be the stupidest thing you have ever said, and that is saying something!” This was in response to my: “s far as I can tell, Obama’s energy efforts were all positive, even with Solyndra. The program turned a profit to the taxpayer and we got more, more efficient vehicles, more solar at commercial and residential levels, and cleaner energy all around. All seemed good to me, especially the profit part —- don’t see that much.”
If Larry had looked it up, he would have read the liberal rag: The Christian Science Monitor when it said: “Three years after Solyndra’s failure, though, the program is now in the black.” https://www.csmonitor.com/Business/In-Gear/2016/1017/Solyndra-who-The-Energy-Department-s-loan-program-is-now-profitable#
All he had to do was look before he looked like a fool. Obama’s energy program added a 300+ times solar megawatts while turning an investment profit to the taxpayers. You see Joe, when you invest, not every invest pans out. Some fail. Solyndra failed, the program succeeded. The US has a lot more solar, the tax payers made a profit, and Joe looks like a fool. Win-win-too bad, we warned him…..
I am sure you will step up and correct your self. Of course, that’s what Solyndra said :>)
So you don’t see how a 15% minimum in corporate taxes will add 15% to everything they produce (sending it of course to the black hole which is the government). And you don’t see how expanding the money supply by this much decreases the value of the dollar?
You can cherry pick liberal apology pieces all you want, but the facts are clear.
And it seems like you really want to rewrite history on disastrous Solyndra and the Obama program. Say it enough times and maybe people will forget the facts and believe you.
I can guarantee the 15% standard corporate tax WILL NOT add a standard 15% price increase. It just doesn’t happen that way. Pricing depends on competition, market size, profits, costs, product portfolio, many variables of which taxes is only one.
Another reason, according to CNBC and numerous economist with phd’s… “While the new taxes are “generally not positive for stocks,” the 15% corporate minimum tax won’t be “material,” Wells Fargo analysts wrote in an Aug. 9 research note that called the new taxes “modest.”
Just over 170 companies in the S&P 500 paid less than 15% in taxes last year, according to a new analysis by Credit Suisse. Of those corporations, less than half would likely see a tax hike for 2023 since the legislation allows companies to use adjusted earnings, which can be massaged in a number of ways, the analysis found.
“In general, the impacts could be somewhat minimal overall and at this point, complicated to truly understand,” Credit Suisse accounting strategist Ron Graziano said in an interview. “Will some companies possibly be hit more than others? Possibly, yes. The overall impacts are not material to the large corporations.”
I don’t think 170 companies will cause 10,000,000 companies to raise their prices. There’s a good chance consumers won’t notice a thing once we choose to make this companies play more fair, tax wise.
Likewise, the 1% stock buy back penalty won’t change….anything. It’s feckless.
Again, I can show you analysis after analysis that shows the Solyndra investment to have gone South and the rest of the program covering that loss plus returned profit to the taxpayers.
On Solyndra, no doubt a bad deal, no doubt the company pulled a Trump and overinflated things to the point of criminality, we may have hung in longer than good business would dictate, many problems.
On the program, you are an ass. Again — it is one of the few Federal programs that has turned of profit, created clean jobs, and invested wisely in America’s clean energy future. NPR, many economists, even FOX news says things like: “Overall, the agency has loaned $34.2 billion to a variety of businesses, under a program designed to speed up development of clean-energy technology. Companies have defaulted on $780 million of that — a loss rate of 2.28 percent. The agency also has collected $810 million in interest payments, putting the program $30 million in the black.”
You really want to triple down on the snark? You are just wrong.
On the taxes — affects 170 companies out of 10 million US companies. No, I do not expect a 15% price increase. Mathematically it can not happen. Nor do I expect any of these companies to do a straight cost-plus pricing strategy that you believe is their only price strategy. Again, I posted multiple phd level economist’s agreement, you sourced no one for your fear mongering assumptions.
On the inflation, ditto. You choose to not believe the CBO, Wharton School, and PWMB and I can post more. Instead you believe yourself and not much else.
FYI — if spending more money than you have tax receipts automatically causes inflation, why no inflation with the largest deficits and largest debt ever in US history, bar none. That is the four years under Trump when we lowered tax receipts, spend more than ever, and had the lowest GDP growth since Herbert Hoover and The Great Recession? Where’s the direct relationship that you now, for some reason, say exists in the time of Biden?
Spew some more, skip the sources and facts, and see if it changes anyone’s mind.
Frank Stetson …. You simply cannot tax a company without having an impact — the extent of which is arguable. I have said that companies can deal with a cost increase in various ways in the short run, but it will increase the cost at the counter unless they find comparable savings — the most likely of which include reduce hiring or laying off personnel, limiting salary increases in the future. Since corporation do not “pay” taxes — but compute them with all other costs — it will eventually have an impact on price or growth. Why does the price of gas go up every time there is a new tax imposed? It is Economics 101.
Larry, by George I think you got, it, mostly. Yes, if you tax a company, it will have an impact, somehow, someday, in some amount. As you said: “the extent of which is arguable,” to which I add, the extent of the amount and timing and products affected in the portfolio is arguable. But there is no doubt the pressure is up. And, as I have indicated, and you said, “companies can deal with a cost increase in various ways in the short run, but it will increase the cost at the counter unless they find comparable savings — the most likely of which include reduce hiring or laying off personnel, limiting salary increases in the future.” OK, I agree with the first part, but —- layoffs? That’s got to be some tax, not a 15% income tax. Companies, especially the top 170 companies this tax targets, have a billion ways to cut taxes, including expansion. Laying off personnel? The sales force will be sacrosanct, anyone else was always fair game. And only if the bottom line is affected, “the extent of which is arguable,” and may even go up.
“Why does the price of gas go up every time there is a new tax imposed? It is Economics 101.” It doesn’t, not always. But I do agree, the price of commodities jumps much faster than other products. Do these 170 companies affected only produce commodities? I really doubt it. And I argue the “new tax” imposed versus a loophole closed. I also wonder where you were when these companies were destroying competition, maybe even dumping products via price, and all other effects when you get a 15% tax advantage against most competition.
Both sides of the tax coin have potential downsides.
Bottom line: we both agree this is upwards price pressure, the extent of the effects and the timing will be arguable and perhaps unnoticeable. Many economists agree and based on the “arguable” effects, timing, and that it’s 170 companies targeted, doubt that this will cause inflation, much less even be noticed by consumers.
One thing we left off. Business taxes are based on gross profits— that is profits after operating expenses. That’s why I was given a margin hurdle and why I could never compute that 15% down to my specific products in my managed portfolio. And when it came to operating expenses, trust me that my product used less than most others —- my products were always new, needling less maintenance, less parts, etc.
After a few decades of product creation and invention, yes, I was given a margin hurdle to cross. Never had I seen a single tax suddenly cause a change, but that could be just luck. But given new products, the margin hurdle was never my issue and 15% would be easy and baked into the business case before I asked for funding. If it happened mid development, I would continue since margin would be affected, but not harmed. Again, new products so less of an issue. For legacy products I managed, also not an issue, plenty of margin, I was blessed with the best lines. That’s the real world — no effect in my case and good chance we were in the 170 unless our tax accountants screwed up.
And that’s why I can guarantee no one will ever see an exact 15% price increase. Just the tax formula alone negates it.
Allegations lodged against Democrats’ wins as bad for Americans, in economic policy, environmental progress, tax levied on the wealthy, and more the former guy never thought about, are the Republicans only defense. Their accusations of a stolen election amount to empty allegations with out proof in evidence of actual premeditated illegalities perpetrated wholesale across the country. Republicans rolled over and checked under every stone they imagined searching for any little inconsistency in the vote count mechanisms. Soon it will be two years since and nothing substantive has been found. Even Trump appointees to Judgeships did not bend the law in Trump’s favor.
Allegations are easy and Republicans take the easy path of alleging some wrong done by Democrats. Lacking proof does not seem to matter. They believe their allegations are true facts, because like Tucker Carlson says regarding his views stated on his program are truth and that any intelligent person can see it’s a fact. The sage of FOX Entertainment saying it is true is enough for him and for FOX Consumers.
Larry, makes a slew of allegations defaming Biden, his administration, and the Democratic Party generally. But he gives no proof of truth received from creditable non politically biased sources. His reading public is forced to take his word alone as faithful and true. Which, presumption of “So, there ‘tis” as a seal of truth and authenticity, amounts to a rational intelligent thinking person’s idea of a bridge to far.
biden couldent run a outhouse right !and the mainstream media belongs in the bottom of that outhouse ,! they are full of shit !
You are right. I believe Obama and Soros have been running the DC office and Biden and his sons were helping him sell out our country and about 75 other countries to China.
Prayers for our country and the world.