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 →
Mighty Mite Romney is using robo-calls to urge voters in four states to support Marco Rubio in today’s GOP primaries. Also, in one state he urges support of John Kasich, as well as Rubio. In all calls he disparages Donald Trump, and doesn’t mention second-place Ted Cruz.
To the untrained eye (or ear?) this is very confusing, especially when Romney reps declare that they will also be helping Cruz in the future, but not today. They say it’s all an effort to block Trump from winning the party’s Presidential nomination, despite his near universal approval by voters in national polls.
While you might disagree with Trump on many issues, nearly every American is disgusted with a campaign finance system that allows the very rich to give millions to elect their stooges to public office. Both Trump and Bernie Sanders have railed against the super pacs and their hidden contributors. Trump has especially ranted against those who pull the strings before and after elections, and he has been attacked by the rich interests, who want to continue their control of the electoral process.
The big money, big control boys are nervous, very nervous over the prospect of a Sanders or Clinton victory. At this point Trump seems more likely to gain the prize (unless there is a F.B.I. surprise) so most guns are directed at him.
Assume the biggest power brokers among the wealthy are the ones most alarmed. The Koch brothers, sons of the founder of the John Birch Society – that refuge of the hysterical – Continue reading →