Per the NY Times, President Biden on Tuesday cut off his infrastructure negotiations with leading Senate Republicans after their talks failed to bridge wide divides over the size, scope and financing of the package, turning to a group of centrist senators to try to salvage the chance for a bipartisan deal. The collapse of the effort came after Mr. Biden concluded that Senator Shelley Moore Capito of West Virginia and other Republicans were unwilling to significantly increase the amount of new money to be invested in the nation’s roads, bridges and other public projects as part of the plan, or offer specifics on how to pay for it. I am not sure what the right answer is, but I do know that our roads, bridges and infrastructure are in an increasing concerning state of disrepair. It would seem to me that we could put aside our partisan differences and work out a solution that addresses the concerns. One of the primary jobs of government is to provide for roads, infrastructure, defense and the common good. Why do our politicians not understand this?
Per an analysis by the news organization ProPublica, the 25 richest Americans, including Jeff Bezos, Michael Bloomberg and Elon Musk, paid relatively little — and sometimes nothing — in federal income taxes between 2014 and 2018.The analysis showed that the nation’s richest executives paid just a fraction of their wealth in taxes — $13.6 billion in federal income taxes during a time period when their collective net worth increased by $401 billion, according to a tabulation by Forbes. This analysis will add fuel to the fire to tax wealth as well as income, something President Biden hopes to do. The 25 paid on the average only 3.4% of income tax based on their increase in net worth. This is because, the US Tax Code focuses on taxing income and wealth is only taxed when an asset is sold and converted to income.
The first congressional report on the Capitol riot was released yesterday. Per the NY Times it is the most comprehensive and detailed account to date of the dozens of intelligence failures, miscommunications and security lapses that led to what the bipartisan team of senators that assembled it concluded was an “unprecedented attack” on American democracy and the most significant assault on the Capitol in more than 200 years. Top federal intelligence agencies failed to adequately warn law enforcement officials before the Jan. 6 riot that pro-Trump extremists were threatening violence, including plans to “storm the Capitol,” infiltrate its tunnel system and “bring guns,” according to a new report by two Senate committees that outlines large-scale failures that contributed to the deadly assault. An F.B.I. memo on Jan. 5 warning of people traveling to Washington for “war” at the Capitol never made its way to top law enforcement officials. The Capitol Police failed to widely circulate information its own intelligence unit had collected as early as mid-December about the threat of violence on Jan. 6, including a report that said right-wing extremist groups and supporters of President Donald J. Trump had been posting online and in far-right chat groups about gathering at the Capitol, armed with weapons, to pressure lawmakers to overturn his election loss. The following are two very disturbing posts that appeared in the report. “If they don’t show up, we enter the Capitol as the Third Continental Congress and certify the Trump Electors,” one post said. “Bring guns. It’s now or never,” said another. Will someone explain to me why congress cannot agree on creating a commission to thoroughly investigate the January 6 insurrection.?
Stay safe. Wash your hands regularly. Social Distance. Wear your mask properly. Schedule your vaccine.
Orchid of the Day: To a group of anonymous WMU alumni who bestowed a historic, $550 million gift that will more than double the university’s $470 million endowment over 10 years.
| Onion of the Day: Congress for not approving a commission to investigate the January 6 insurrection. After the release of yesterday’s report, what are the waiting for? Quote of the Day: “Increasing the personal income tax rate by 2 percent or 10 percent is not going to make any real difference to these multibillionaires. The real action in America is on wealth, not income.” Elizabeth Warren. |