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#121 |
Philosopher
Join Date: Sep 2016
Posts: 6,286
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How do you not put defending torture in the "loon" category?
What upsets you and what you don't even bat an eye at reveals quite a bit. President's son is successful in his professional life: reeks Big chunk of President's family in administration: crickets Being dubious of the opinions of those who excuse torture: feigned confusion Knowing that there's no point trying to convince true believers to see reality: priceless |
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#122 |
Crazy Little Green Dragon
Join Date: Sep 2011
Location: East Coast, US
Posts: 9,782
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So sayeth the crazy little dragon. |
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#123 |
Neoclinus blanchardi
Join Date: Jul 2001
Posts: 2,767
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I wouldn't call that a huge jump. It's only 350 billion per year.
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What's this? Surely you can't mean we're running four plus trillion dollar deficits. You'd get a bust of inflation followed by a recession when capital gets depleted.
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Meh.
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Well, adjust if for inflation. Having 360 billion more taxes over ten years for the one percent will not hurt much. They can adjust the capital to labor ratio from 70% to labor down to 65% and that'll cover the cost.
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Well, simply tax those bellow one million dollars per year income. 160 million taxpayers at $25,000 per year, ought to cover it nicely. |
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Schrodinger's cat walks into a bar. And doesn't. |
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#124 |
Muse
Join Date: Sep 2006
Location: Sag-Nasty
Posts: 907
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When conservatives realize they cannot win democratically, they will not abandon conservatism. They will abandon democracy. IIDB is back, baby! |
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#125 |
Penultimate Amazing
Join Date: Aug 2001
Posts: 13,578
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#126 |
Penultimate Amazing
Join Date: Dec 2006
Location: US of A
Posts: 16,580
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Not really. Inflation is a standard economic term based on a market basket of goods. U.S. inflation in 2021 was 7 percent; in 2020 it was 1.4 percent.
A lot of factors, often hyperlocal, cause property values to increase, often at a rate higher than inflation. https://www.usinflationcalculator.co...flation-rates/ But so what? Property taxes are based on property values. Do you think they shouldn't be? Then you end with with Prop. 13, where your taxes are largely determined by how long you've owned the property. |
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#127 |
Penultimate Amazing
Join Date: Mar 2016
Location: United States
Posts: 29,441
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#128 |
Philosopher
Join Date: Sep 2016
Posts: 6,286
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In doing some canvassing for a tenants' organizing non-profit, I found the most effective way to get a contact to take interest in what I was saying was to research the neighborhood and look at the last few high-dollar sales paid with cash and with the appraisal/inspection waved nearby and point out what that means. Get ready to be overrun with out-of-state absentee owners slapping a coat of slab-gray, off-white, or beige paint over aging housing stock, putting up those awful backsplashes with the little narrow horizontal tiles including the little transparent strips that have all the luster of frozen spit finished off with a caulking job that reminds you of a 5 year old frosting a grandparent's birthday cake. Now charge $1200/mo. for a "charming" craftsman bungalo with a yard the size of a postage stamp with a deteriorating foundation in a sleepy midwest cow-town with median household income of ~$56k.
Sorry, I kinda got going there... |
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#129 |
Penultimate Amazing
Join Date: Dec 2006
Location: US of A
Posts: 16,580
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I see it as more complicated than that. For one thing, why should people in basically identical houses with the same value pay wildly different tax rates based on how long they've lived there? Would you vary income taxes based on the age of the taxpayer? Prop. 13 law distorts the real estate market and reduces turnover. Maybe those people who bought a house 30 years ago would like to move, but they don't want to give up the tax break. You also have people, probably the majority, who borrow against the increased value of the house and benefit from their investment returns. No other state has anything like prop. 13, and they seem to function just fine.
One possible solution to the specific problem you describe would be to assess taxes at market value, but defer collection until the property is sold. The homeowner could choose not to pay while he lived there, but when he sold it or it was passed to his estate, the unpaid taxes would be collected off the top, with interest. |
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#130 |
Penultimate Amazing
Join Date: Dec 2006
Location: US of A
Posts: 16,580
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Actually, you're touching on a serious problem. Major investment groups are buying thousands of modestly prices homes across the country and renting them, making it harder for consumers to both buy and rent homes. https://slate.com/business/2021/06/b...al-estate.html https://www.washingtonpost.com/busin...ket-investors/ |
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#131 |
Philosopher
Join Date: Sep 2016
Posts: 6,286
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I know this all too well. "Afforable" stock in my area went down to an average of 2.1 days on market. You can't possibly get inspected and appraised in that time. Not taking those steps is way risky. And without cash, nobody is going to underwrite a home sight unseen anyways.
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#132 |
Penultimate Amazing
Join Date: Mar 2016
Location: United States
Posts: 29,441
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I agree that it's more complicated but I think my point is still valid. No senior should lose their home because they can no longer afford the huge increase in property taxes when their income is fixed. Your idea of delayed tax collection is certainly feasible. I would suggest a plan that they keep paying the tax at the rate it was when they either bought the house or at the time of retirement and then be able to defer the difference to when the property is sold.
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#133 |
Philosopher
Join Date: Sep 2010
Location: Lenoir City, TN/Mineral Bluff, GA
Posts: 7,482
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#134 |
Illuminator
Join Date: Jul 2001
Posts: 3,567
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The road to Fascism is paved with people saying, "You're overreacting!". |
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#135 |
Penultimate Amazing
Join Date: Dec 2006
Location: US of A
Posts: 16,580
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As one of the investors explains:
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As fewer people are able to buy, more need to rent, increasing the demand for rentals. And investors are likely to buy the more desirable properties and increase the rents as much as they can, pushing up the average price across the market. |
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#136 |
Penultimate Amazing
Join Date: Dec 2006
Location: US of A
Posts: 16,580
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#137 |
Penultimate Amazing
Join Date: Dec 2006
Location: US of A
Posts: 16,580
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But why should someone be able to sit on a valuable asset just because he's retired? If you give a tax break to one group arbitrarily, everybody else -- including a lot of people who will never be able to afford to buy a house -- has to pay more one way or another. Prop. 13 has skewed the California economy in multiple ways, none of them good. No other state has anything like Prop. 13.
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Retirees are not necessarily poor. In fact, on average, they are doing pretty well. And for someone who owns valuable property with limited income, a reverse mortgage is always a possibility. Protecting the owner from market forces just allows him to pass the property along to his heirs, which also has big tax advantages. Why should everyone else have to pay for that? |
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#138 |
Guest
Join Date: Apr 2018
Location: Null
Posts: 15,479
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Not to mention that tax sheltering property like this rewards the exact kind of NIMBYism that is partly responsible for the shortage of housing stock and the spiking costs. High property taxes are the only negative effect that people face for enacting policies that make it impossible to build. It's bad enough that people treat buying a home as buying a license to print money, we should not be rewarding this system by letting people not pay taxes on their gains.
Building more housing stock, and denser housing stock in existing neighborhoods, is a great way to keep prices and taxes under control. |
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#139 |
Penultimate Amazing
Join Date: Jun 2005
Location: Way way north of Diddy Wah Diddy
Posts: 34,288
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Not if housing stock is limited. It allows the same people (and corporations etc.) who have made purchase unaffordable to raise their rents to nearly unaffordable, because there's no other place to live. Rental prices won't go down unless or until they have raised them so high that people move away, at which point it's probably too late and one is left with abandoned residences with huge artificial leverage that makes it more economical for an owner to take the inflated loss than to rent them cheaply.
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Like many humorless and indignant people, he is hard on everybody but himself, and does not perceive it when he fails his own ideal (Moličre) A pedant is a man who studies a vacuum through instruments that allow him to draw cross-sections of the details (John Ciardi) |
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#140 |
Penultimate Amazing
Join Date: Mar 2016
Location: United States
Posts: 29,441
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Like I said, if they continue to pay the tax at the rate I mentioned but can delay paying the increase until they house is sold (or even inherited), the state still gets its money.
I really don't want to get into a big discussion about this. It's just not that important to me. |
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#141 |
Penultimate Amazing
Join Date: Aug 2008
Posts: 17,537
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Locally out of state LLCs have been buying houses at the County tax auction every year, renting them out, then failing to follow any of the requirements or upkeeping the properties in any way. After a few years of getting rents they abandon the property leaving the local city with the cost of tearing down the dangerous buildings. Because of the way the enforcement mechanisms work they can't actually make the out of state, hidden owner, LLC pay any fines or show up in court. The county, heavily Republican run on every level, refuses to do a thing about this including making bidders at the auction be linked to a real person. The county gets ALL the money from these auctions. The city, which switched to a gay Democrat as mayor a couple of years ago as this issue started, is stuck with ALL the costs. The Republicans, quite the villains, blame the Democrats for this issue caused by their actions and the regulations they wrote and are now blocking changing.
It's horrible. |
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Circled nothing is still nothing. "Nothing will stop the U.S. from being a world leader, not even a handful of adults who want their kids to take science lessons from a book that mentions unicorns six times." -UNLoVedRebel Mumpsimus: a stubborn person who insists on making an error in spite of being shown that it is wrong |
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#142 |
Penultimate Amazing
Join Date: Jun 2005
Location: Way way north of Diddy Wah Diddy
Posts: 34,288
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It's been done quite a bit already in other threads, and I don't think there will ever be a solution that suits all. Some will cuss that people can sit on an appreciating investment and not pay for it unless it's taxed according to the market and others will point out that it amounts to a penalty for stability and durability in which a market you do not control tells you whether you're worthy to keep your house. Somewhere in the middle is something that injures both sides a little and doesn't kill too many.
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Like many humorless and indignant people, he is hard on everybody but himself, and does not perceive it when he fails his own ideal (Moličre) A pedant is a man who studies a vacuum through instruments that allow him to draw cross-sections of the details (John Ciardi) |
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#143 |
Дэлво Δελϝο דֶלְבֹֿ देल्वो
Join Date: Jul 2008
Location: North Tonawanda, NY
Posts: 10,938
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Being a renter who plans to buy as soon as possible (presumably by summer/fall this year), I've been watching YouTube videos by realtors & mortgage specialists, mostly about advice and what to expect in the process, but the same people also often talk about whether the current situation is a bubble about to pop.
Some of the signs of it are there. The market constantly worsening for buyers and the buyers constantly getting more desperate and putting up with worse treatment is a repeat of what happened before previous housing market crashes, including the most memorable one. But the fact that that's the way the trend has gone lately doesn't mean it's about to change or ever has to change. Japan has 100-year mortgages. China has down payments that take a couple of generations to save up, and that's just to start a 70-year lease from the government, not to really own. It definitely can get much worse than it has gotten here so far; if there's some limit at which a currently unknown law of the universe will block it from getting worse for buyers because it just can't get worse anymore, it's at least somewhere beyond the Japan/China level, which means we are free to keep cruising in that direction for a long time before we bounce off of it. And I notice that those who say there's got to be a crash coming don't give specific reasons/mechanisms for why that must be the case, just a vague sense of "this is really drastic, and drastic things don't persist; they always swing back". Meanwhile, the ones who go into a bit more detail take the opposite view: as much as this runup looks like the last runup in some ways, it's also different in some crucial other ways.
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#144 |
Crazy Little Green Dragon
Join Date: Sep 2011
Location: East Coast, US
Posts: 9,782
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So sayeth the crazy little dragon. |
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#145 |
Crazy Little Green Dragon
Join Date: Sep 2011
Location: East Coast, US
Posts: 9,782
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So sayeth the crazy little dragon. |
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#146 | |||
Penultimate Amazing
Join Date: Mar 2016
Location: United States
Posts: 29,441
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OMG! ICE CREAM in the WINTER! Obvious sign of dementia. Next thing you know, he'll be eating hot soup in July! When will this madness end?
This was on Jimmy Kimmel recently. Good for some laughs:
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#147 |
Guest
Join Date: Apr 2018
Location: Null
Posts: 15,479
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Fox News histrionics aside, it's probably worth pointing out that Democrats repeatedly doing covert advertisements for "Jeni's Ice Cream" is a pretty gross example of the low level corruption that is common in our political system.
The owner is a bigtime backer of the Democratic party and is from Ohio, an important swing state, so throwing money her way by buying the ice cream as donor gifts or doing free advertisements like this probably doesn't hurt. Not even close to the biggest kinds of corruption in our politics, but still gross seeing how the sausage gets made. Biden and other dems doing these photo-ops isn't meaningfully different than when right wingers hawk "MyPillow" and I find it all pretty gross. Politicians should not be doing product placement advertising for their wealthy donors. |
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#148 |
Penultimate Amazing
Join Date: Mar 2016
Location: United States
Posts: 29,441
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#149 |
Illuminator
Join Date: Oct 2010
Location: North American prairie
Posts: 3,006
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It's a Wall Street Jrnl poll, so it does not have that much meaning. But the number of voters that don't like either could lead to some rather odd solutions by either party by the time 2024 comes around.
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Dominus vo-bisque'em Et cum spear a tu-tu, oh! Politics blog: https://esapolitics.blogspot.com/ Parody: http://karireport.blogspot.com/ Poll: https://projects.fivethirtyeight.com...proval-rating/ |
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#150 |
Guest
Join Date: Apr 2018
Location: Null
Posts: 15,479
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I very much suspect "I'm not Trump" is a one-trick pony that won't be as exciting the second time around.
Biden ran on a fairly ambitious set of policy agendas, and thanks to stonewalling from "moderates" within his party allying with Republicans, accomplished very little of it. This will only get worse if the midterms result in complete loss of Senate control, which seems likely. I'm very much looking forward to learning how these likely future losses are the left's fault. ![]() |
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#151 |
Illuminator
Join Date: Oct 2010
Location: North American prairie
Posts: 3,006
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No, what I meant, looking at those numbers, is that if Trump does not actually run, but merely supports the actual candidate, then Democrats are also likely to run someone other than Biden. This will give us a fresh start and finally move on from Trump.
If GOP runs Trump, dems will run Biden. |
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Dominus vo-bisque'em Et cum spear a tu-tu, oh! Politics blog: https://esapolitics.blogspot.com/ Parody: http://karireport.blogspot.com/ Poll: https://projects.fivethirtyeight.com...proval-rating/ |
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#152 |
Guest
Join Date: Apr 2018
Location: Null
Posts: 15,479
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I think you're wildly underestimating how much power entrenches itself. If Biden/Trump are still healthy enough to run, nobody will be able to stop them regardless what the polls say.
The idea that Trump or Biden will step aside for the greater good of their party's electoral chances is overlooking how much personal ambition drives these decisions. |
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#153 |
Illuminator
Join Date: Oct 2010
Location: North American prairie
Posts: 3,006
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I don't think it will go well for Trump, then. He simply does not have the long term concentration to carry out a campaign let alone be president. He did not like most of it in his first 4 years. Voters sitting on the fence will not go with him. A Biden with a Republican congress will work oit fine for them. The next president in 2028 election will be a somewhat Trump-like Republican.
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Dominus vo-bisque'em Et cum spear a tu-tu, oh! Politics blog: https://esapolitics.blogspot.com/ Parody: http://karireport.blogspot.com/ Poll: https://projects.fivethirtyeight.com...proval-rating/ |
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#154 |
Дэлво Δελϝο דֶלְבֹֿ देल्वो
Join Date: Jul 2008
Location: North Tonawanda, NY
Posts: 10,938
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It wasn't working the first time either until it was rescued by a virus.
Worse than failing, he hasn't even really tried. It was never anything he really wanted; it was just there to trick people into voting for him. And that, plus exactly the same kind of argument they used for Biden in the first place, will be why they tell us we need President Manchin next. |
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#155 |
Penultimate Amazing
Join Date: Aug 2007
Location: Sacramento
Posts: 57,860
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Biden just called what what Russia is doing in Ukraine genocide. This is upping the rhetoric quite a bit.
Also, Pentagon is sending more weapons to the Ukraine including for the first time aircraft..attack helicopters and Bradely AFV. Something is esclating the situation. |
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Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty. Robert Heinlein. |
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#156 | ||
Uncritical "thinker"
Moderator
Join Date: Jan 2007
Location: UK
Posts: 29,272
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OECD healthcare spending Public/Compulsory Expenditure on healthcare https://data.oecd.org/chart/60Tt Every year since 1990 the US Public healthcare spending has been greater than the UK as a proportion of GDP. More US Tax goes to healthcare than the UK |
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#157 |
Uncritical "thinker"
Moderator
Join Date: Jan 2007
Location: UK
Posts: 29,272
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This (merged) thread shows some of the reason why he's right
http://www.internationalskeptics.com...d.php?t=358173 |
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OECD healthcare spending Public/Compulsory Expenditure on healthcare https://data.oecd.org/chart/60Tt Every year since 1990 the US Public healthcare spending has been greater than the UK as a proportion of GDP. More US Tax goes to healthcare than the UK |
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#158 |
Crazy Little Green Dragon
Join Date: Sep 2011
Location: East Coast, US
Posts: 9,782
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To poke at a couple things related to the inflation challenge facing Biden and the US -
All McConnell does is whine that we're not fixing GOP's economic mess fast enough
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Texas GOP official calls Abbott's policy 'economy killing action' as protests over delays continue
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So sayeth the crazy little dragon. |
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#159 |
Penultimate Amazing
Join Date: Aug 2007
Location: Sacramento
Posts: 57,860
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Biden talking about sending a high ranking...cabient level offiical to Kiev to meet with Zalinsky.
Don't talk about it;do it. I am cncerned that the Biden adminsration seems to have the slows on Ukrainie too often. This is no time for Business as Usual. |
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Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty. Robert Heinlein. |
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#160 |
Illuminator
Join Date: Oct 2010
Location: North American prairie
Posts: 3,006
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This thing will drag on. Back in the early two weeks, I thought Putin was going to get what he wants (Donbas etc.) and be done with it by now. But this is just going to slide into the North and South Korea thing, with also some fighting going on, for the remainder of Biden's term. And somehow, the Bush thing will not work here. Voters want "someone else," especially Trumpsters and independents. DeSantis?
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Dominus vo-bisque'em Et cum spear a tu-tu, oh! Politics blog: https://esapolitics.blogspot.com/ Parody: http://karireport.blogspot.com/ Poll: https://projects.fivethirtyeight.com...proval-rating/ |
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