Chet Collins

House Passes Democrats’ Climate, Healthcare and Tax Package - WSJ

“This is a substantive policy achievement,” said House Ways and Means Committee Chairman Richard Neal (D., Mass.).

Nice of Congress to come back from vacation to quickly pass an immediate tax increase on every single American worker. The heaviest burden (+3.1%) of new taxes under this bill goes to filers who make less than $10,000 a year.

Their policies made you poorer by fueling inflation and distorting supply and demand. Real wages are down more than 3% after inflation, and now they’re back to pick your pockets again!

Now let’s go out there and have a great weekend!

Mr. Biden said the measure would lower costs for prescription drugs, healthcare and energy. “Today, the American people won. Special interests lost,” he said in a tweet after passage.

Unless you’re the Hedge Fund manager special interest, in which case, slam dunk victory!!!

Equifax Should Face Curbs on Selling Credit Scores, Maxine Waters Says - WSJ

We are working closely with our customers on this issue and stand behind our customers and impacted consumers.

Direct quote from Equifax CEO. Note that “customers” and “consumers” are two distinct groups. That’s because the credit bureaus build profiles of data on us, without consent, and then sell our data to their customers, financial institutions. We’re not the customer, we’re the product.

Still waiting on my settlement from 2017 when these bozos got hacked and didn’t notice for months.

10 Ways To Avoid Getting Audited By One Of The 87,000 New IRS Agents - Babylon Bee

If the IRS says they’re going to audit you, just say ’no thanks’: You’ll be surprised how often this works.

The FBI’s Dangerous Search at Trump’s Mar-a-Lago - WSJ Opinion

Didn’t someone at Justice point out that a search in this case would draw comparisons to Hillary Clinton’s mishandling of classified information before her 2016 presidential campaign? She was never prosecuted, as Mr. Trump was quick to point out. Unless Mr. Trump’s offense involves a serious risk to national security, half of America may see the Trump search as an example of unequal justice.

Report: FBI Raided Mar-A-Lago After Tip That Parents Were Protesting A School Board Meeting There - Babylon Bee

“When we received an anonymous tip that parents were assembling to criticize public school curriculum and policy, we sprung into action – we should have confirmed the veracity, but didn’t want to risk any of these potential terrorists escaping.” Garland spoke at a press conference today, adding “We take these threats very seriously.”

Deliveries of Boeing’s 787 Dreamliner Set to Resume in Coming Days - WSJ

The first jet was inspected and cleared Monday, according to people familiar with the matter.

Great news for a great plane.

U.S. Lawmakers Look to Digital Dollar to Compete With China - WSJ

A digital dollar could provide a new option to the way consumers pay for products and services. In addition to using a credit or debit card—or Venmo or Apple Pay—individuals would have a digital version of cash on their phones that could be used anywhere, likely through existing financial firms. That could lead to faster, cheaper and safer payments and make paper currency obsolete.

Also privacy and freedom!

Hope you had a nice weekend!

The United States Senate just passed a bill to raise taxes on every single American, from those making $10,000 a year all the way up to $1,000,000+.

So much for only raising taxes on people making $400,000+.

I love a good late summer storm.

⛈

Inflation Reduction Act Tax Changes: Details & Analysis - Tax Foundation

It would also reduce average after-tax incomes for taxpayers across every income quintile over the long run.

And if we’re honest with ourselves, the government is so much better at spending our money than we are.

Summer storms.

Do you know the perfect solution to high inflation and a recession?

More spending and new taxes!

The grain silo is never empty.

It’s a lot of work, but I’m grateful for the work.

Curls (2022)

Cost of Democrats’ Corporate-Tax Increase Skews to Wealthy, Reaches Middle Class - WSJ

“These companies are playing the most games, and avoiding tax by manufacturing their drugs, phones, and shoes abroad,” Senate Finance Committee Chairman Ron Wyden (D., Ore.) said. “This is a minimum tax for tax dodgers stamping ‘Made in China’ on their products.”

They’re playing the game by the rules that you wrote, sir.

Equifax Sent Lenders Inaccurate Credit Scores on Millions of Consumers - WSJ

“The impact is going to be quite small,” Mr. Begor said, “not something that’s meaningful to Equifax.”

Terrible quote from an even worse company.

Rivian Says Senate Climate Deal Puts It at Disadvantage - WSJ

The company, in particular, takes issue with a planned cap that would make any electric trucks, SUVs and vans selling for more than $80,000 ineligible for the federal subsidy. It also opposes the proposed income restrictions. Buyers with household incomes of $150,000 or higher—$300,000 for married couples—wouldn’t qualify for the credit on new EV purchases.

Sorry, Rivian, but the government picked you as a loser.

Justice Department Files Lawsuit Challenging Idaho Abortion Law - WSJ

The Justice Department says Idaho’s abortion restrictions unlawfully conflict with a federal law that requires hospitals accepting Medicare to provide emergency treatments, which can sometimes include abortion.

I must’ve missed all of those DOJ lawsuits against states and municipalities “decriminalizing” marijuana, a Schedule 1 Narcotic. Growth, sale, and distribution is a serious federal offense. These massive grow operations and retail distributions are so out in the open, DOJ must be dunking on all of those cases!

I know well, answers Jesus Christ, that one drop of my blood, or a simple prayer, would be sufficient for the salvation of the world. But neither would be sufficient to show the love which I bear to men.

-St. Alphonsus Liguori

Putin Awards Self Medal Of Freedom For Dropping Gas Prices - Babylon Bee

After months of singlehandedly raising America’s gas prices without any help whatsoever from the Biden administration, Russian President Vladimir Putin has mercifully given Americans a short break by lowering the price at the pump. For his benevolence and valor, he has awarded himself the Presidential Medal of Freedom.

‘Inflation Reduction Act’ Is an Insult to Used-Car Salesmen - WSJ Opinion

If a bill that reduces the deficit by $300 billion over 10 years represents “inflation reduction,” what are we to make of a law Congress passed last year that increased the deficit by an estimated $1.7 trillion in less than two years?

Field Notes are a delight.

Federal Student-Loan Program Cost Estimate Was Off By $311 Billion, Government Watchdog Says - WSJ

According to Friday’s GAO report, which examined the federal program dating back to 1997, it lost money on loans issued in all but one year over the past quarter-century. Originally, the Education Department estimated the loans would generate $6 in income per $100 lent out. The GAO analysis found the loans wouldn’t make money, but actually cost the government $8.88 per $100 in loans.