04 August 2022

Remember What I Said About Lucy and the Football?

It turns out that Kyrsten Sinema is demanding a roll back of taxes on her rich donors for her vote, and even then, she is not promising to vote for the bill in the final vote.

Negotiating with psychopaths, particularly stupid ones who think that they are super-geniuses, is a losing proposition.

Force her to make her demands public, because their is no upside in being nice to her:

Sen. Kyrsten Sinema (D-Ariz.) said she would soon be ready to “move forward” on a revised version of Senate Democrats’ health-care, climate and deficit-reduction package, opening the door for party lawmakers to adopt the long-stalled bill as soon as this weekend.

Sinema offered her must-have support after Democratic leaders agreed to scale back some of their original tax proposals, capping days of speculation about her public silence and moving her party one step closer to fulfilling a central element of President Biden’s economic agenda.

In a statement, Sinema said Democrats had “agreed to remove” a key tax policy targeting wealthy investors that aimed to address what is known as the “carried interest loophole.” She also signaled they had made additional tweaks to a second provision that imposes a new minimum tax on corporations that currently pay nothing to the U.S. government.

The carried interest loophole is the most unfair, and least popular, tax loophole in the nation, but Ms. Sinema needs to raise campaign funds, so she killed it.


From here, Sinema said she would await a final review from the chamber’s parliamentarian — a critical step in the process that allows Democrats to move their spending bill — at which point she would “move forward” on the measure known as the Inflation Reduction Act of 2022. Biden hailed the development, describing it in a statement late Thursday as a “critical step toward reducing inflation and the cost of living for America’s families.”


Under the new plan, Democrats now seek to impose a new tax on the money that companies spend to purchase back their own stock, the two sources familiar with the matter said. Party lawmakers long have taken issue with such practices, arguing they benefit large firms’ stock prices at the expense of workers and the economy at large.

Stock buybacks were generally illegal until SEC Rule 10b-18 was adopted in 1982, when the Reagan administration decided that it was a good thing for executives who were largely remunerated with stock options to manipulate their stock to increase their own pay.

Just make stock buybacks illegal.

As to cutting a deal with Sinema, it's like the parable of the frog and the scorpion.  It is like the bite of a dog into a stone, it is a stupidity.


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