Finally, A Decent Week. It Will Not Last.

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THIS MEMO IS DEVOTED TO DISCUSSIONS ABOUT THE "Inflation Reduction Act" TAX BILL BIDEN HOPES TO SHOVE THROUGH NOW THAT HE HAS MANCHIN'S HELP (WILL SINEMA CAVE AS WELL?) THE IMPLICATIONS OF TAIWAN AND FINALLY THE KILLING OF AYMAN AL-ZAWAHIRI;

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I HAVE NOT, NOR  WILL I READ THE INFLATION REDUCTION ACT TAX PROPOSAL.  Senator Sinema may have the last word on whether it survives or goes down in flames. I have read excerpts of sections. It is obvious it proposes to raise taxes in order to reduce the impact of more spending,

I am not a Nobel Economist like Paul Krugman who after

receiving the check proved to be an idiot. The man is so incompetent, he actually works and writes economic columns for the NYT.  I am practical and I know it is unwise to raise taxes during a recession. 

I also know transferring money to the government is also unwise and unproductive because the government produces nothing and the more GDP slips under the control of politicians and bureaucrats the less productive our economy.

Taxing corporations always impacts capital formation and eventually workers pay part of the bill as it they are being taxed.  The "free" market is always the best allocator of capital,  When the government gets in the business of picking winners it seldom works. Operating outside it eludes the give and take of what the market knows. Market judgement is preferable to that of bureaucrats.

The taxation of the pharmaceutical Industry will also have a negative effect on critical medical research and thus progress in bringing solutions to solving certain medical issues.

Furthermore, slowing capital spending impacts rehiring.  Another issue pertaining to hiring is the lack of qualified workers.  Bringing business back to America is a positive but if we lack qualified workers that is not positive.

Like all tax bills, huge sums are directed toward pet projects and this bill goes overboard in support of questionable green projects and unproductive spending.

Strengthening the power of the IRS is never a positive citizen friendly act.

Rest assured, those on the bottom will eventually be hurt the most because many of the costs will trickle down and they will bear some of the burden while inflation continues to hit them as another tax.

Finally, this bill will increase inflation because it will add to our enormous deficit as interest rate increases consume more GDP .

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As for Pelosi's stop in Taiwan, apparently some fool in the administration leaked the idea she was going and thus, assured her going. The consequence is a plus for Democrats who are always weak when it comes to asserting American foreign policy.

Being in Taiwan when her husband's drunk driving hearing is held is an unplanned benefit considering a lot of hanky-panky has been going on to make sure he proves the powerful get one type of justice and other less powerful drunks get jail time.

Finally, Xi will be forced to show a display of power but I seriously doubt showing off his muscle will be more than just that because he has festering issues of his own. 

The trip to Taiwan will prove to be a Pelosi vainglory success.

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Taking out Al-Zawahiri is a net plus for several reasons.

First, it interrupts, for the moment, al Qaeda's leadership.

Second, it gives the mass media something they can gloat about in portraying  a strong Biden.

Third, Biden can use the news to take voter's minds off the economy, gas prices, Ukraine, inflation, the southern border, crime and deathly drugs. 

Fourth, Biden can try and use the over the horizon attack as proof we can be effective without boots on the ground.

What he cannot do is erase the consequences of his politically driven withdrawal from Afghan which proved a disaster including the lives of 13 of our finest.  We were assured by Biden  al Qaeda was finished, yet the head of the organization was killed in the home of  one of the Taliban's top leaders. To make matters worse, our open southern border has consistently been breeched by terrorists.  Some have been identified but we have no proof our nation is secure. 

Whatever "victories" Biden can claim, most assuredly they will prove ephemeral. Terrorists are engaged 24/7, have proven how many signals have slipped through our hands and we are short of "humit"  as a consequences of our self deception 

Add these events up and one can conclude Biden, with help from Pelosi and the CIA had a decent week. But Yogi was right, ie. "ain't over til it's over.

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