The king believed that he had new clothes, but the people didn’t believe it. Trump is now trying to convince everyone that his “tax reform” legislation is a huge boon for the middle class, when he knows that’s pure bullshit. He seems to be hoodwinking some of his trusted supporters so far.

Go big, go bold seems to be his PR approach to dressing up this pig. Since this whole thing is based on creating a larger deficit, the real sleight of hand here is to make this sound like a “cash back” transaction—free money. But wait, there’s more!

Some will certainly believe that they are getting a windfall. What they don’t yet understand is that their TEMPORARY tax cut will be paid for over and over again (by them, the middle class). On top of that, they will also be picking up the tab for rich people, hedge fund managers and big corporations, and himself, whose benefits are PERMANENT.

These payments will take many shapes, including actual taxes, cuts to Social Security and Medicare, and the launch of a pay for play infrastructure program that will be financed by bridge tolls, road tolls, admission fees, surcharges, ad nauseum. The other big tax on the horizon comes from skyrocketing insurance costs, due to the sabotage of the Affordable Care Act. I seem to remember during the campaign that he was going to “get rid of horrible Obama Care and replace it with something better and cheaper.” The silence coming from the Republicans on this is deafening. Don’t hold your breath, they don’t give a crap about this stuff.

This leads us to the final and only conclusion that we need health care for all, and that the only way to truly achieve that is to take the middlemen for-profit insurance companies out of the equation. MEDICARE FOR ALL. Start voting like your health depends on it. It probably will.

Comments

Coalage3 21 weeks 2 days ago
#1

From Steven Greenhut: http://reason.com/archives/2017/12/29/democratic-rhetoric-on-gop-tax-law-is-ju

Excerpts:

The last sentence sums up my problem with every tax bill I've written about in my adult life. Despite Republican rhetoric about cutting government, no one ever cuts government spending. Indeed, the Trump administration wants to invest in military and national-security programs, build a border wall (that Mexico is definitely not going to pay for), and even push NASA to send astronauts back to the moon. Those things aren't free, either.

Nevertheless, many of us object to the Democratic concept that cutting taxes for individuals and businesses is the same as "spending" more money, as writer David French pointed out. That's only true if the government has a claim to our entire paycheck.

What matters is whether the bill's provisions are good ones. Mostly they are. It does some constructive things. For instance, most Americans—not just the wealthy, despite Democratic claims to the contrary—will have lower tax rates. Most parents will benefit from a doubled child tax credit. It repeals the individual mandate penalty for health care, which was a noxious portion of Obamacare. It lowers the corporate tax rate to 21 percent and reduces myriad tax penalties for businesses. It also doubles the exemption for the hated death tax.

Unfortunately for those of us living in high-tax blue states, we'll get hit with some higher taxes given that the plan caps the deduction for state taxes and reduces the mortgage interest deduction on large home loans. But why should the rest of the country subsidize our state's foolishly high income taxes or our sky-high home prices, which are driven by liberal slow-growth policies? If Sacramento Democrats were seriously concerned about this problem, they could, you know, give Californians a tax break to ease the pain.

At least the bill pushes in a lower-tax direction and rebukes the Democratic class-war nonsense. Who really cares how rich people spend their own money? We should all be more concerned about encouraging them to invest in their businesses.

Coalage3 18 weeks 3 days ago
#2

And now Apple reports that they will bring back billions of dollars in cash to reinvest in the US now that the corporate tax rate was lowered. They also announced plans to build a second office campus and hire approx. 20,000 more workers over the next few years.

Shortly, most Americans will start to see more take home pay on their paychecks. The stock market continues to climb.

This news just continues to get worse and worse every day.

Coalage3 18 weeks 2 days ago
#3

Schumer, Pelosi, et al, have to be gritting their teeth at the Apple news. Cook is supposed to be on their side, not on the side praising the tax cut. You also got the news coming about the FISA warrants.

But don't worry. Schumer will make sure that the news is only about the alleged govt. shutdown. He has to make sure that some americans suffer so that the good news of the Apple investment gets taken out of the news cycle.

The Schumer shutdown...ha ha. What has happened to the democratic party in this country?

Coalage3 17 weeks 6 days ago
#4

So the Schumer shutdown comes to an end. Who cares? Nobody for the most part. Anybody remember the last government shutdowns? i didn't think so.

But it appears that Trump hatred was not enough for the democrats this time around. We'll see what happens with DACA now.

PhilfromOhio's picture
PhilfromOhio 17 weeks 4 days ago
#5

You're mumbling to yourself dude.

Coalage3 17 weeks 3 days ago
#6

Good Lord....the news just keeps getting worse and worse. I don't know how much more of these crumbs the workers can stand.

Now Disney has announced that 125,000 employees will get a $1,000 bonus, and they are going to establish an education fund by investing $50 million.

AT&T, Comcast, Jetblue, Starbucks, Boeing, VISA are others giving bonuses due to the tax cut package.

Coalage3 14 weeks 5 days ago
#7

The sky is falling, the sky is falling...

From: http://thehill.com/opinion/finance/373394-success-of-tax-cuts-expose-hypocrisy-of-the-democrats

Excerpts:

Tax cuts are “Armageddon” and “the worst bill in the history of the United States Congress,” said House Minority Leader Nancy Pelosi (D-Calif.) in December. They’re “irresponsible, reckless, unjust, and just plain cruel,” said Sen. Cory Booker (D-N.J.). “Republicans will rue the day they passed” tax cuts, said Senate Minority Leader Chuck Schumer (D-N.Y.). They’re “highway robbery,” said Sen. Bernie Sanders (I-Vt.) and “a heist” addedSen. Elizabeth Warren (D-Mass.).

Whoops. What a difference a couple of months make. The early returns are in and tax cuts are an unqualified success. Hundreds of major American companies, which collectively employ millions of Americans, have directed part of their tax savings to significantly raising worker pay.

Have Democrats apologized for their misguided tax cuts fear-mongering? No. In fact, they’ve doubled down on it, promising to repeal them, which would raise taxes on millions of ordinary Americans, if they retake Congress this fall. Are Democrats in moderate states, including Sens. Claire McCaskill (D-Mo.), Joe Manchin (D-W.Va.), and Joe Donnelly (D-Ind.), on board with this strategy?

Led by Pelosi, they are characterizing the tax cut-induced wage increases as “pathetic” and “crumbs.” They may be crumbs to Pelosi, a San Francisco millionaire, and her coastal compatriots, but for ordinary Americans — two-thirds of whom cannot cover an unexpected $400 expense, according to the Federal Reserve — they amount to long-overdue relief. “I’ve heard time and again that the middle class is getting crumbs, but I’ll take it!” said Wayne Love from Florida about his $200 paycheck boost.

Rather, coastal Democrats are desperately trying to game the system to lower taxes for their rich investment banker and trial lawyer constituents and donors who must now finally pay their fair share of federal taxes because the tax bill limited the state and local tax deduction loophole. Even the left-wing Institute on Taxation and Economic Policy finds that working around the state and local tax deduction limit would overwhelmingly benefit the richest one percent of households.

For years, the media narrative has been that Democrats are the party of ordinary Americans while Republicans are the party of the rich. Tax cuts are the wedge that illuminates the reality is just the opposite.

Add comment

Login or register to post comments

Democrats Should Steal Trump's Thunder on Trade

It's time to run bigger, better and harder on trade policies.