Cynicism and Its Cure

The famous Eff-off Sen. Sinema and her eff-off ring

The Senator from the Terrible Sand Kingdom of Arizonastan has revealed the terms of ransom for the latest, much-reduced incarnation of the build back better bill:

Senate Democrats cleared a huge hurdle Thursday night by securing Kyrsten Sinema’s support for a modified signature climate, tax and health care proposal, and will move forward on the legislation on Saturday.

The Arizona Democratic centrist announced that she’s signed off on the legislation after winning tweaks that include the removal of a narrowed loophole for taxation of certain investment income, a provision known as carried interest. In a statement, Sinema said she’s also won changes that would “protect advanced manufacturing, and boost our clean energy economy.”

Give Sinema an A+ for staying bought; she’s a solid investment for the hedge funders. But I digest:

…The new agreement with Sinema includes a new 1 percent excise tax on stock buybacks that will bring in $73 billion, far more than the $14 billion raised by the carried interest provision, according to a Democrat familiar with the deal.

The deal with Sinema also adds roughly $5 billion in drought resiliency to the bill, according to another person familiar, and changes portions of the corporate minimum tax structure to remove accelerated depreciation of investments from the agreement. That depreciation-related change will cost about $40 billion.

One assumes that Sinema thinks that by adding new income streams, no one will be angry about the one she took out. We have a tax system that is unfair and is designed to help keep the fat cats’ money in their (offshore) bank accounts, and she’s OK with that.

Solution: Elect more Democrats to the Senate, Manchin and Sinema will no longer be relevant.

And just when I was in despair that the system is rigged I saw this 10-tweet Twitter thread from David Rothkopf  last night. He pulls back the framing to give us a larger, more optimistic  view. This was the tweet that particularly caught my attention:

The entire thread is required reading, please take a moment, especially if you are feeling jaded and cynical. It will put some pep in your walk: we are winning.

This entry was posted in Blue Dogs, Joe Manchin, Kyrsten Sinema (D-AZ), tax reform, Taxes. Bookmark the permalink.

9 Responses to Cynicism and Its Cure

  1. Martin Pollard says:

    Yeah, Senator Curtsy McTeenager (DINO-Arizonastan) got what she wanted, but on the up side, we still have a bill with a megaton of good stuff, and the hedge fund loophole can be addressed in future legislation, especially if we retain the House and increase our Senate lead. (Lesson: don’t let perfect be the enemy of good.)

    The best part is that she’s toast when she’s up for election, as no sane Democrat in Arizonastan is going to give her the time of day again. Not that she’ll care, as she’s pretty much set for life on the lobbyist circuit (or maybe not, because unlike her days as a Senator, she’d actually have to do work as a lobbyist).

    Liked by 3 people

    • tengrain says:

      Martin –

      I don’t think that she has much to offer lobbying: the Dems don’t trust her, and the Republicans have no need for her when she’s gone. It’s not like she has made great friends in DC, she seems to mostly have irritated the eff out of everyone. She might be the rare person who does NOT end up lobbying. I’m sure she’ll get some reward from the hedge funders, but that’s about it.

      Rgds,

      TG

      Liked by 2 people

      • I’m sure she’ll get some reward from the hedge funders

        She’ll get a hearty handshake, and shown the door, after which her picture goes on the list for building security under the “Do Not Admit” list, and her phone number will be set to be rejected on all of their phones.

        This is what happens when you indiscriminately carpet-bomb all bridges within a continent of your location.

        They used her, and they’ll just discard her in a hot second.

        Liked by 3 people

      • She’s already yesterday’s girl.

        Like

    • osirisopto says:

      we still have a bill with a megaton of good stuff

      I’ll believe that when Manchinema votes for the reconciled version.

      Liked by 1 person

  2. roket says:

    The Arizona Democratic centrist? I don’t think that word mean what POLITCO

    Like

  3. H-Bob says:

    “Give Sinema an A+ for staying bought” … Isn’t that the definition for honest politician?

    Liked by 1 person

  4. Richard Portman says:

    I almost forgot that she was raised LDS. I don’t think they want her back, either. Say what you want about the Mormons, but they vote.

    Liked by 1 person

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