With the introduction of these two ‘smoke and mirrors’ tax measures, negotiations enter the ‘end game’ phase of the corporate strategy to beat back the two stimulus bills—the traditional Infrastructure Bill (now $0.55T new spending reduced from $2.3T) and the Human Infrastructure/Reconciliation Bill (now $1.75T reduced from $3.5T).

The strategy to slash the level of spending in both bills has been driven behind the scenes by the corporate wing of the Democrat party, with Senators Manchin and Sinema as their negotiating ‘point persons’.  The strategy has always been to cut the magnitude of spending on both bills so deeply that it would not require actual tax hikes on corporations and wealthy individuals of any significance. What was left in terms of reduced spending levels could then be funded by means of various ‘smoke & mirrors’ measures—i.e. by moving money around from other current programs or by transferring funds from other government slush funds.

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