House Speaker Paul Ryan’s new tax law will save less than $9 a week for most working Americans, and many may receive cuts as little as $2.70. Meanwhile, a $1 million filer will gain $628 a week. The GOP plan smells like a few peanuts for the middle class and the elephant’s share of the tax cut designated for the very rich.
Current law now taxes a married couple for every dollar earned that exceeds $24,000 a year. Last year’s tax floor was $20,800, or a difference of $3,200.
Anyone earning exactly $24,000 in 2018 will save income tax of 10% of that $3,200, or $6.15 a week, versus last year.
What do you do with this $6.15 tax cut? If you are taking Xarelto for heart problems, as millions do, your tax bonanza won’t cover that drug’s $80 a month increase, or offset higher gas prices, or, or…
But what would have happened if candidate Donald Trump’s original tax plan had been adopted? Continue reading →
Trickle, trickle, fools we are, to trust the rich, now flush with cash, will share with us their bounty
The inlaid walnut table in the corporate boardroom held 12 on either side and two or three at each end, and the execs were all perched, prepped to pounce, when I dragged in my 2001 budget – 1015 pages of spreadsheet and other sheet.
As division CEO of a NYSE-listed publishing company with nearly a billion dollars sales, my pitch was explain how I would increase sales, restrain costs and improve the value of the newspapers I published.
What could go wrong? In the past year sales were up, but more important, the bottom line jumped from about a $200,000 loss to an $860,000 profit before taxes.
Since most of my employees were salaried – meaning they worked long hours without overtime compensation – my proposed budget included a four percent average pay increase. That four percent, I was told, was a big mistake. Continue reading →
$4,000 Wage hike “Fake News” from the White House – whatever happened to Trump promise of “no taxes for a couple earning less than $50,000”
UPDATE to April 2017 post, Russian Dossier with complete text: DNC and Clinton campaign paid for Fusion GPS report used by FBI to investigate President.
The following was emailed to me on Saturday from the White House.
TRUMP PENCE WEEKLY NEWSLETTER 10.21.17
TAX CUTS FOR REAL AMERICANS
President Trump is working harder than ever to bring tax reform to middle class Americans, including the biggest tax cut in American history. This week, the President took his case to conservative leaders, seeking their support in pushing Congress to pass a tax reform bill, he said, “We need…help…to get our tax cuts through the house, through the Senate, and to my desk for signature.” Now is the time for all Republicans in Congress and maybe even patriotic Democrats to come together and support major tax reform that will boost wages and deliver families a $4,000 annual pay raise. We must get Congress on board, in order to deliver tax relief to hard-working Americans. Call and remind your Representative and Senators to support the President’s Middle Class Miracle today.
Although I am retired and there is no boss to give me a pay raise, I imagined that, at least, my children and grandchildren would benefit, and perhaps send me a fancier birthday card or buy me a funny hat with all the extra cash in their checking accounts.
And after learning that I am a “Real American”, according to this government email, I wondered: “could this $4,000 pay raise be real?” I turned to YouTube, where your computer screen seems to come alive with the voice of Mr. Trump and Bill Nye, among others, and found the President making this same promise: Continue reading →
IBM’s chief executive, Ginni Rometty was anxious to meet with the newly-elected Donald Trump in December, last year, and she pledged that her tech firm would create 25,000 new American jobs. She also promised that IBM will be investing in the United States by bringing $1 billion to create training programs and opening new offices.
Promises are cheap. But Mr. Trump was quick to praise Rometty, and even included her in the June 19 Tech Summit, pushed by his son-in-law, Jared Kushner. A tech council was supposed to be formed at that time, but nothing happened since then.
What did happen is that these companies, virtually all of them, continued to send jobs overseas and/or hire foreign workers on Visa programs to replace American workers.
No better example is IBM. Rometty’s promise to hire 25,000 workers was “clarified” to mean 25,000 workers over the next four years, and the reaction from employees was harsh: Continue reading →
“The Trilateral Commission is a skillful, coordinated effort to seize control and consolidate the four centers of power – political, monetary, intellectual, and ecclesiastical. All this is to be done in the interest of creating a more peaceful, more productive world.” – Senator Barry Goldwater
If you ever wondered how to feed the alligators in the swamp…
In February, former globalist Trilateral Commission star Kenneth Juster became a member of the National Security Council. He had to resign from the Trilaterals, because they don’t allow you to have two masters at the same time. In just seconds he went from hugs for fellow traveler Madam Madeleine Jana Korbel Albright to shrugs for alleged swamp drainer Mr. Donald Trump.
Not to be outdone for disappointing his supporters once by appointing Juster to high office, Trump struck again at the beginning of September with a new honor – nomination to be Ambassador to India, a job vacant since January 20. Continue reading →
“Everyone is entitled to their opinion.”
National Security Council (NSC) Advisor Herb Ray McMaster apparently disagrees with that adage, and fired staffer Rich Higgins for spilling the beans on the Deep State of corporate cronies, intellectual phonies and political hacks.
Higgins served NSC’s strategic-planning office as director for strategic planning. He was fired on July 21.
The memo, written near the end of May, said the mindset within the White House is inadequate to the threat:
This is not politics as usual but rather political warfare at an unprecedented level that is openly engaged in the direct targeting of a seated president through manipulation of the news cycle. It must be recognized on its own terms so that immediate action can be taken.
Earlier this year, Higgins had pushed to declassify documents dealing with radical Islam and Iran, including Presidential Study Directive 11, produced by the Obama administration before the Arab Spring, that outlined unrest throughout the Middle East, according to a report in The Atlantic.
McMaster also recently fired Derek Harvey, senior director for the NSC Middle East strategy. Before removal, Harvey produced a list of NSC holdovers from the Obama Administration and presented it to McMaster, who declined to fire them, the report said.
President Donald Trump in February 2016:
“I know the guys at Goldman Sachs. They have total, total control over him (Ted Cruz). Just like they have total control over Hillary Clinton.”
Times have changed and there are now suggestions to rename the “East Wing” to “Hedge Fund Headquarters.”
Or more accurately – “GS Village in the Capitol.” This is the place where old bean counters and masters of economic disaster gather to decide how much financial misery the “little people” will endure without revolting.
A good and quick example is Anthony Scaramucci, He worked at Goldman Sachs‘s Investment Banking, Equities, and Private Wealth Management divisions from 1989 to 1996. Flamboyant, like his fictional counterpart, he lasted ten days before Trump replaced him with a retired general. The president’s picks for his cabinet tend to be either Wall Street bankers or multi-star generals. Guns and promises of rose gardens?
But GS and the financial class are hardly left without influence, despite Continue reading →