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Taxes

Coronavirus “rescue” bill sends $11 billion to develop Africa, instead of restoring huge cuts to programs for Americans

While critics of the Coronavirus Aid, Relief and Economic Security Act (CARES Act) bring up the $25 million for the John F. Kennedy Center for the Performing Arts, there is virtually no reporting of the $10.8 billion authorized for three African development banks. Funding for the Kennedy Center came with the stipulation it would help deal with fallout from the coronavirus pandemic. There is no such restriction connected to the […]

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Tulsi Gabbard is the co-sponsor of a terrific Social Security bill also endorsed by Mark Meadows – Trump’s new Chief of Staff

Talk about strange bill-fellows! HR 860 (Social Security 2100 Act) has gained the endorsement of former Republican Congressman Mark Meadows. A founder of the House Freedom Caucus in 2015, Meadows was just named White House Chief of Staff by President Donald Trump. This same House bill to modernize Social Security is co-sponsored by Democrat Congresswoman Tulsi Gabbard. She has hundreds of thousands of contributors in her active quest for the […]

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Many of America’s biggest companies paid no federal income tax last year, or had credits under new corporate-friendly tax law

What a guy! “Jeff” Bezos, the world’s richest person, has been paid the same $81,840 salary from Amazon for two decades. Perhaps, because he needed extra cash last year to pay grocery bills, divorce lawyers and utilities, Bezos sold $1.8 billion of his Amazon stock, and kept about $1.44 billion after 20% federal capital gains tax. Meanwhile, Amazon wage earners were hit with up to a 37% income tax. Even […]

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Big business in India benefits from taxes and regulations that are forcing small competitors out of business – sound familiar?

Big business in India has adopted the tactic of eliminating competition through onerous regulations. Many of us can remember the American corner grocery, local pharmacy, small bakery, tiny-herd dairy farm, one-person law or accountant firm. Tens of thousands of small companies have closed in recent decades, replaced by chains and their monopoly practices of poorer service and higher prices. The three major reasons for the closings are: Huge firms undercutting […]

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China’s companies win the race for producing employment giants, dwarfing American firms like GM, Apple or Exxon

When you don’t count Walmart, the largest employers in the world, are in China, not the United States. And the biggest firms in China are industrial and manufacturing companies, not a low-wage retailer China National Petroleum (1,636,532), China State Grid (913,546), Foxconn (803,126) and Sninopec (667,799) together employ 4,021,003 workers. Foxconn is well known in the U.S. for producing Apple phones in Longhua Town, Shenzhen, in the south of China. […]

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World’s 19th largest economy – San Francisco Bay – now qualifies for Opportunity Zone status, because its median income is “only” $117,000

It’s tax season for the peons, but while you are wondering where your money is going, a few developers and bankers are chuckling. San Francisco Bay has been designated an official Opportunity Zone – containing areas where you can invest, make a fortune and pay no taxes – income or otherwise. The IRS describes the deal this way: Opportunity Zones are designed to spur economic development by providing tax benefits […]

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VAT is another big reason our factories are closed, and the good jobs have gone overseas

While the public is focused on tariffs and pundits are bemoaning the dangers of a “trade war,” our foreign competitors have the last laugh every day, watching our factories close and our colleges over-qualify future pizza delivery peons. It doesn’t have to be that way. In fact, it’s easy to see a solution. Here is one unfair trade example. Germany and the European Union charge a 10% tariff on cars […]

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Trump keeps his enemies close, friends distant – the result confuses everyone, including his base voters

The average American could care less who is the President or which party has control of Congress, but everyone who watches the news is confused about what Donald Trump really believes. The only sure and consistent Trump initiative has been the 2018 Budget to cut taxes for big corporations – dropping their income tax support of public services from 35% to 21% of profits, and introducing a territorial system so […]

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