Sinema took Wall Street money while killing tax on investors BRIAN SLODYSKO Fri, August 12, 2022 at 11:50 PM WASHINGTON (AP) — Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan. For years, Democrats have promised to raise taxes on such investors, who pay a significantly lower rate on their earnings than ordinary workers. But just as they closed in on that goal last week, Sinema forced a series of changes to her party’s $740 billion election-year spending package, eliminating a proposed “carried interest” tax increase on private equity earnings while securing a $35 billion exemption that will spare much of the industry from a separate tax increase other huge corporations now have to pay. ... Sinema has long aligned herself with the interests of private equity, hedge funds and venture capital, helping her net at least $1.5 million in campaign contributions since she was elected to the House a decade ago. But the $983,000 she has collected since last summer more than doubled what the industry donated to her during all of her preceding years in Congress combined, according to an Associated Press review of campaign finances disclosures. ... https://news.yahoo.com/sinema-took-wall-street-money-045021170.html This is what it takes for a Democrat to win in a (R)ed-dominated state such as Arizona, it would seem. Got to be pro-rich and greedy enough to get those juicy donations. Just in case anyone doubted that we are, in fact, a plutocracy.
Until money is taken out of American politics you will never see policy written to help America progress -/ it will always been written to benefit some very wealthy person somewhere. Many other countries have seemed to figure this out but America seems stuck on corrupt presidents banking books and taking bodily autonomy away from others. One thing that is for certain, The country will be studied as what not to do in the future. 250 years what many have said is the lifespan of our type of system.
If Sinema moves to the House, democrats will make her Speaker. She could take Wall Street lap dog Pelosi's place.
Absolutely. Pelosi is one of the most outspoken against the bills to end insider trading in congress. Anyone that things the Democrats are better than the Republicans in this area are fools.
Manchin got what he wanted. Sinema got what she wanted. And the progressives got what they wanted on climate change. The country as a whole got screwed (unless you're one of the 87000 new IRS agents that get to point your shiny gun in the face of taxpayers).
Wall Street really loves that carried interest loophole. Trump ran against it during his campaign and the then GOP Congress shut that down quick. I wonder how much money it would raise?
How does helping wealthy Wall St types help Sinema get republicans to vote for her when most republicans aren't billionaires? Better still, how did she get elected in a R dominated state?
You can't trust any of the folks that voted for this bill. A very tragic joke on folks struggling with the Biden/Dem inflation.
Hm, no. The bill is still a good one, but Sinema weakened it to help wealthy Wall Street investors, who in turn are all too happy to share the spoils with her via donations. The IRS won't be bothering anyone making under $400,000, so that political cartoon is just partisan tripe.
Actually an amendment guaranteeing that was voted down by the Democrats. Nobody is fooled by their disinformation. "Crapo amendment to the Manchin bill to limit the bill's 87,000 new IRS agents to auditing companies and individuals with income of $400,000 or more FAILED 50-50.https://t.co/oPKr11BAYw pic.twitter.com/mH4wuMsmJ4" — Phil Kerpen (@kerpen) August 7, 2022 "Democrats don’t want their wealthy pals aka their wealthy donors audited."
LOL! Pelosi is fake of course. There are people who copy her stock trades because she is the most successful trader there is. Gee, I wonder why?
