Mark Warner's Pivotal Role
The Wall Street Journal says Mark Warner Plays Pivotal Role in Democrats’ Large-Scale Spending Plans.
When talks among Democrats about a raft of antipoverty and climate-change measures began, Sen. Mark Warner (D., Va.) assumed that lawmakers would agree to spend less than the $3.5 trillion plan announced this past week.
The centrist lawmaker said he is worried about inflation and the rising U.S. debt burden and came to the talks with different policy priorities than some of his party colleagues. After weeks of negotiations between Democrats on the Senate Budget Committee and a series of calls from President Biden, he came around to the larger figure, which would be distributed over 10 years and paid for with tax increases—conditions he said eased his concerns.
“The president asked me to stretch, and I think I stretched,” Mr. Warner said in an interview.
Like some other Democrats, Mr. Warner favors a 25% corporate tax rate, an increase from the current 21% but below the White House’s proposed increase to 28%. The White House is also seeking to raise the top capital gains rate to 39.6% from 20% and uniformly apply an additional 3.8% surtax to bring it to a total 43.4%. Mr. Warner said he supports a 28% top capital gains rate and has reservations about Mr. Biden’s plan to tax unrealized gains at death.
Pragmatic Bernie Sanders?
If you are wondering how the figure got to $3.5 trillion, please consider Strange but True: Bernie Takes a 'Very Pragmatic' Turn.
Barely 24 hours after the Vermont senator publicly rejected a $3.5 trillion spending deal following a Monday meeting with President Joe Biden, he turned around to tout it as the most transformational policy proposal in nearly 100 years.
The shift in tone was a tactic Sanders used to coax moderate Democrats into going far higher than they might have otherwise felt comfortable. After he had insisted on shooting for the moon with a $6 trillion budget proposal, $3.5 trillion suddenly looked pretty reasonable.
Jokes aside, moderates surmised it wasn’t easy for Sanders to shed his uncompromising stance on this year's massive spending blueprint, which is still perhaps months away from becoming law. Tester, who quickly endorsed Sanders’ budget blueprint, despite reservations, observed that Sanders likely “had hesitation” in coming down by $2.5 trillion.
“It may have been one of those deals where it was: ‘Look, Bernie, if we don’t get this, we can’t do anything.’ And he decided to move with it,” Tester said of the haggling.I do not call that pragmatic. It was the plan all along and I said so at the time.
What's On Board the Biden Express?
Who and what are both important.
Consider the NYT report Democrats Roll Out $3.5 Trillion Budget to Fulfill Biden’s Broad Agenda.
I discussed the energy aspect The Greens Hijack Biden's $3.5 Trillion Budget Proposal (That Could be a Blessing)
- Clean Energy
- Energy Tariffs on Carbon Imports
- Corporate Tax Hikes
- Capital Gains Tax Hike
- Medicare Expansion
- Subsidized Child Care
- Universal Prekindergarten
- Two Years of Free Community College
- Civilian Climate Corps
Socialist's Wet Dream
Belief in Socialism is belief that the government and its system can make better decisions with your money than you can.
This is not a moderate package. It's a socialist's wet dream.
Senator Mark Warner is no "moderate" and neither is president Biden.
Who's On Board the Biden Express?
Obviously and unfortunately, Mark Warner. He is now a proven Socialist. Indeed, anyone who supports this monstrosity is a proven Socialist.
Unless one of Krysten Sinema (D. AZ), Jon Tester (D. MT), or Joe Manchin (D. WV) opposes this mess, it will sail through Congress 50-50 with Kamala Harris casting the tie-breaking vote for Socialism.
Like these reports? I hope so, and if you do, please Subscribe to MishTalk Email Alerts.
Subscribers get an email alert of each post as they happen. Read the ones you like and you can unsubscribe at any time.
If you have subscribed and do not get email alerts, please check your spam folder.