Good morning Tuesday morning, dear seekers.
To lend a hand you get through this hunchbacked day, we will take the simple way out and tell you one of those “water is wet, sun rises in the east” stories.
While performing on CNBC A squeaky box program on Tuesday, US Senator Pat Toomey I had all these thoughts about it $5.8 trillion budget request This President Joe Biden fell out on US Capitol on Monday, fresh from his own the moment the microphone dropped in Warsaw last weekend.
The budget, which includes a tax on billionaires along with $915 billion for domestic and foreign aid programs, is “a grand gesture to the radical left – the wing of Democrats who dislike capitalism.” Toomey he said CNBC (You can watch it here).
ToomeyRepublican ranking on Senate Banking Committeeand millionaire former Wall Streeter, had a lot to say about tax policy in Biden spending plan.
“When I look at these proposals: a huge increase in income tax, on corporate income, the so-called billionaires’ tax… it’s not going to happen.” Toomey he said, according to a transcript provided by his office, realizing the reality that presidential budget plans are rarely passed in their original form.
I’m talking to CNBC, Toomey he also made it clear that he was not a fan of the language Biden a budget that aims to discourage corporations from using profits to buy back shares to line the pockets of executives.
Under the White House planabsurdly wealthy company directors would be required to hold on to their shares for several years after taking them over and would be prohibited from selling them for years after the buyout, according to Reuters.
“A stock buyback is simply an economically rational, prudent and responsible move when a company’s management determines that it is unable to productively employ marginal capital.” Toomey worried. “They have an obligation to return it to the owners of the company. The beauty of the mechanism is that as an investor you can decide whether you want to sell or not. This is exactly what should happen in a free society, in a free market economy. This denigration of stock buybacks is completely absurd.”
Unless, of course, you consider the reality that in 2020, the ratio of CEO pay to average worker pay was 351 to 1. – reports the Institute of Economic Policy. So being forced to hold on to supplies longer does not mean economic hardship. Unless you want to pay off the second yacht.
Toomey he also had some thoughts about tax fairness, which probably sounded great when passed around the CEO, but much less so if, like most American workers, he earned an average salary of $51,480 last year.
“Our Democratic colleagues tend to justify all their various creative ways of raising taxes as a way to make sure the wealthy pay their “fair share.” The top 1% of Americans earn about 20% of all income and pay about 40% of all income taxes,” he said. “Paying twice the rate of their income as a percentage of total taxes is somehow unfair. . . It’s worth asking my Democratic colleagues: “What is fair?”
Before you start crying crocodile tears for the impoverished billionaires working their way through their piles of cash like Uncle Scrooge McDuckconsider this ingot from Americans for tax justice: “The richest 1% pay approx effective federal income tax rate of 24.7%. That’s slightly higher than the 19.3% rate paid by someone earning an average salary of $75,000. AND 1 in 5 millionaires pays a lower rate than someone making $50,000 to $100,000.”
After all this though Toomey he may turn out to be right. With the midterm elections approaching and Democrats facing the very real possibility of losing one or both chambers on Capitol Hill, their current proposals seem urgent/
“I think anything that gets 50 votes in the Democratic Senate and [Vice President] Kamala Harris breaking the tie will be accepted and the House will then sign President [Joe] Biden– he said.
“But I think this show will end at the end of this year. “I think Republicans will take control of the House and Senate,” he added. Toomey further. “Then we won’t be having conversations about these crazy new ways of raising taxes on people who already pay a lot of taxes. That’s why our colleagues in the Democratic Party feel a lot of pressure to do something quickly. They know the clock is ticking.”
Our stuff.
Between up-to-date maps and an engaged, furious electorate, the 253-member Pennsylvania General Assembly it may look completely different this time next year. Stephen Caruso sums up the wave of legislator retirements and incumbent-incumbent primaries that will reshape the House and Senate.
The House Education Committee on Tuesday we voted in favor of the bill which would exclude transgender athletes from competing on women’s sports teams in the Commonwealth, Kasia Miller reports.
Hours after that vote, LGBTQ supporters and allies held an emotional rally in the Capitol rotundain which they called for the defeat of the bill – I report.
Top official in Pennsylvania Department of Environmental Protection and a senior state legislator are calling on Pennsylvanians to vote on the planned revisions I also report to a key state policy aimed at giving more residents a voice in critical regulatory decisions.
Combined with Philadelphia City Council, Mayor Jim Kenney started cooperation with United Way of Greater Philadelphia and Southern New Jersey and 211 Southeastern Pennsylvania (SEPA) announce a up-to-date 24/7 violence prevention hotlineour partners in Philadelphia Tribune report.
This morning on our comments page: Local Government they are attractive targets for hackers and are ill-preparedAND University of Maryland at Baltimore County the scholar writes. And there are limits to the American Renaissance in Ukraineregular opinion Bruce Ledewitz I’m writing.
Elsewhere.
PA reflector is watching you “broken” compassionate deliverance program for incarcerated people (via Inquirer).
Former inmate of the Allegheny County Jail He claims the lack of care cost him his leg, Mail Newspaper reports.
Nearly two days after a fatal accident involving 50 cars, A section of Interstate 81 in Schuylkill County has reopened, PennLive reports.
Lancaster on the Internet looks at the efforts of one group allow independent voters to cast ballots in party primaries.
Morning call explores the Lehigh Valley exaggerated political topography as we enter the regular season.
Go Erie loses the primary election in May in Erie County.
PoliticsPA examines the importance of a candidate’s place on a ballot.
Lucerne County officials stuck in a deadlock in the vote for the up-to-date district chairman, Voice of Citizens reports.
Chester County Judge ordered the removal of all five members of the Democratic Party With West Chester Area School District in a months-long dispute regarding the requirement to wear masks, WHY-FM reports.
WITF-FM Intelligent conversation program takes over the growing opposition to collect fees South Bridge over Interstate 83 in Dauphin County.
City and State of Pa. exhausts the latest recommendations in the U.S. Senate race in Pennsylvania.
Republicans in the US House of Representatives and Senate consider President Joe Biden’s proposed defense budget, Roll call reports.
Here’s your #Pittsburgh Instagram of the Day… Let’s start the debate:
What’s going on
The House enters at 11 a.m., the Senate at 1 p.m
10:00, Main Rotunda: Start of the Souls Shot portrait project show
10:30, Ryan building: Representatives John Lawrence and Dan Moul on bills to lend a hand dairy farmers
11:00, Main Rotunda: FairDistricts PA “Fix Harrisburg” rally calling for reforms to make the Legislature run more efficiently.
12.00, Main Rotunda: We, the People and lawmakers support using American Rescue Plan funds to make direct payments to people to afford rising costs
What’s Going On (Naked Political Edition)
8:00: Breakfast for Senator Maria Collett
8 a.m.: Breakfast for Senator Joe Pittman
8 a.m.: Breakfast for Rep. Tracy Pennycuick
8 a.m.: Breakfast for Rep. Joe Kerwin
Drive around the track, give it your all, and on top of your incredibly high cholesterol, you’ll lose a slightly absurd $5,000 today.
Wolf watch
Governor Tom Wolf As of this writing, there is no public schedule. This can and often does change throughout the day.
Heavy rotation
Here’s one of Kae Tempestequipped Kevin’s summarywhich I’m sure we can all identify with is “More pressure.’
Wednesday free hockey call
Karolina he lost his tough guy, lost by 4-3 decision to Tampa on Tuesday evening overtime.
And now you’re up to date.
