Breaking Points
Krystal and Saagar cover the details of Biden’s shrinking budget proposal as Democrats in congress have continued to battle over what will be in the final version of the bill
To become a Breaking Points Premium Member and watch/listen to the show uncut and 1 hour early visit: https://breakingpoints.supercast.com/
To listen to Breaking Points as a podcast, check them out on Apple and Spotify
Apple: https://podcasts.apple.com/us/podcast/breaking-points-with-krystal-and-saagar/id1570045623
Spotify: https://open.spotify.com/show/4Kbsy61zJSzPxNZZ3PKbXl
Merch: https://breaking-points.myshopify.com/
So, now it apparently costs 1.75 Trillion dollars to accomplish absolutely nothing toward the improvement and betterment of society.
How about higher and extended luxury taxes? Planes, yachts, high end cars, etc?
When the 16th Amendment passed those who earned $4,000 to $20,000 ($110,832 to $554,161) paid a 1% income tax rate. Those who made over $50,000 ($1,385,404) paid a 3% income tax rate. Less than 4% of the population had to pay income tax. During WW 2 in order to pay for the war the threshold was lowered to where 64% of the population now had to pay the income tax. The thought among the American public was when the war debt was paid off that taxes would return to just effecting the “very rich”. That DID NOT happen. Politicians saw the benefit of being able to buy votes by appeasing corporations and the voting public. If you think that increasing taxes on the very rich is going to stop there you are delusional. The government is going to grow and grow until it is no longer sustainable and there is a crash. When that happened is anybody’s guess. The blame will lie at the feet of those who voted for these politicians, Democrat or Republican.
It's bad, but worse look at what it does include! It's a total attack on the middle class and small businessman… that's where the're getting their money from… it's a crime… why are you not covering it??
love your word nerd fun, Saagar!
I am not worried about Elon, I am worried about the dam legislation that allows him to do what he does, I would do the same dam thing, that’s buisness. 🙄🇺🇸
If they really wanted to tax the super wealthy, all they would have to do is remove the loopholes in the tax codes that allow them to "shelter" their money. That's not what they are doing. Regardless of how much you raise taxes, if they can shelter their money, the result is the same. You get practically nothing from the ultra wealthy.
Also, they say they won't tax people who aren't multi-millionaires. The problem is that historically nothing that any administration has promised has been true. Whenever a tax hike is pushed, it always hurts the working class, and practically never hurts the ultra-wealthy.
On this very show, you have correctly pointed out that the IRS will always go after the working class, but practically never go after the ultra-wealthy. Why would we think that this would change? This is a big reason why small working class investors are not interested in the "Unrealized Gains Tax for Billionaires" proposal.
Bernie’s Roosevelt mark 2!!
I heard there was a pretty good “infrastructure” bill buried in there.
But you guys buried it with all this other nonsense which should be voted on separately.
How am I wrong?
I think YOU might be part of the problem on this one.
Kill the bill it is an afront to thoughtful people all over the world.
So they all get arrested for treason right? Right…?
I've learned that people who call themselves progressive are really just cucks
But yet, they keep the 85,000 new IRS agents to go after Americans for spending $28 a days
Unsubbed. Breaking Points is only slightly less full of shit than Fox News.
Kristen and manchin sabotaged the dem party. It only takes 2 bad apples to bring the whole class down. And we will see the damage done in the midterm elections. The Democratic Party proves to be the blah blah blah party. Cannot get nothing done even with an unhinged Republican Party stuck in identity politics with zero policy, and having a majority in the. House and senate. It’s freaking sad AF.
Why is everyone so insistent on funding this useless government? What we need to do is defund the government.
All of this going on is about jobs. They want Americans to work. They are waiting for the jobs report on Friday on the 5th of November. That's why they can't come to an agreement on anything
Just a basic math course reminder
1,000 = Thousand
1,000,000 = Million
1,000,000,000 = Billion
1,000,000,000,000 = Trillion
This reconciliation bill is the deciding factor on my and I think billions of others voting for the democratic party or not. The progressives buckle to this BS and it's over their done as a viable party.
Is this still a balanced channel? Feel like all the headlines have been very anti-liberal. Just curious if the stance has changed…
Net Worth tax.
Taxing the very rich won't change the budgetary situation. But that's no reason they shouldn't pay taxes like everyone else.
The problem with the ultra rich isn't their money, it's their power. (Although the two do overlap.)
Let them buy yachts, not legislators.
why raise revenue when you can just print it, right progressives?
Look at all the opportunity zones that were created for the rich to evade taxes. High rise office buildings and apartments all throughout Los Angeles Opportunity Zones. OZ is not for the working class it's for the rich. Damn fkken crime for real estate moguls while we cramp in small rat cages. Disgusting. I don't even want new taxes…. I just want the same deal they get.
do you think David Pakman is gonna cover Sussman indictment someday ?
Typical Krystal… comes out to make sure we all know that she doesn’t give a shit about the Constitutionality of tax policies. Proving again that leftists are tyrants and should be treated as such.
Don’t worry Mexico and China will pay for it
The billionaire's ability to avoid taxation is much, much greater than the government's ability to create and pass legislation to tax them.
At the very beginning Biden made it absolutely clear "Nothing Nothing is going to change"Just who didn't believe him this is their man and he promised to do nothing nothing that is why he got the nomination and no one else!!!
Sounds like Krystal and Sagar are going to be sponsoring a march on the Capital
Screw you to the mainstream media! Hilarious. Mainstream media is just about dead. Once the over 70 crowd passes mainstream media will go out of business, mark my words
Why do people still believe anything? Why vote? Jesus.
WHY IS SAAGAR YELLING
Musk wasn’t self made. It’s a myth. He inherited wealth from his daddies apartheid area mining business. He got $4.9B from the US gov for all 3 of his businesses. Bezos came from finance. These ppl came from privilege
No green new deal
No $15 minimum wage
No increase in taxes on the rich
No medicare for all
No lowering of age for medicare eligibility
No lower prescription drug prices
No paid family leave
No lowering of defense budget
No free community college
No student loan forgiveness
No dental/eye coverage for seniors
No stop to foreclosure/rental crisis
No extension of unemployment benefits
But keep voting…..
Classic breaking points dems put forward a good proposal republicans and one democrat block it and negotiate it down and it’s only the democrats fault
I really hope that the progressive caucus has some stones for this fight.
I love how that article says that companies are going to "fight" the minimum tax. And how are they going to fight it? They're going to fight it with money? Oh I see they're just going to bribe their way out of it. They should put that In the headline.
I just want to know who are f-ers that are doing this shit!? How the f are they getting away with this shit!? And how are they defending doing this shit!? It feels like monsters are running your government! Because no human can defend doing this shit to his fellow man!
Kill the bill and demand justice for Donziger and Julian
The rich really like to talk about how much they pay in taxes, but the percentage they pay versus what the rest pay is radically less.
They have destroyed the planet to the human race, as we know it, due to the planets new pandemic we are the dinosaur’s, and they are planning the getaway, iam fine as long as they leave without trashing it. The planet is telling the human race it it willing to go on without the top of the food chain. Pharma is trying to say we got pills you can take seasonally to control the pandemic. And all the wealthy can think about is there money?
100% tax of inheritance above 50 mln dollars. We shouldn't rob billionaire's kids from opportunity to prove their worth in meritocratic society