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  1. #10726

    Re: Politics Random Random

    It is called Trickle Down Economics for a reason. What reaches the middle class is a trickle of what the Upper (and Uber Upper) Class gets.
    And if a trickle is what reaches the Middle Class, the poor get nothing.
    Starry starry night

  2. #10727

    Re: Politics Random Random

    Trump Has Big Demands — and No Leverage — in the Government Shutdown Fight
    By Eric Levitz

    “The worst thing you can possibly do in a deal is seem desperate to make it,” Donald Trump once paid someone to write. “That makes the other guy smell blood, and then you’re dead.”

    If his nostrils aren’t clogged, Chuck Schumer should be getting a big whiff of vital fluid right about now.

    With the government set to run out of funds at the end of next week, congressional leaders were making steady progress toward a new, bipartisan spending bill — when the White House barged into negotiations with a list of weighty demands.

    Specifically, President Trump is demanding billions in funding for a border wall, immigration enforcement, and the military. Democrats have already declared wall funding a nonstarter — and Republicans will need Team Blue’s votes to overcome the reflexive opposition of the tea-party hard-liners in the House and the filibuster in the Senate.

    But the White House is insisting on its wall, nonetheless. And in a flood of leaks to major news outlets, the administration has signaled that its demands are nonnegotiable — because Trump is worried he’ll receive bad media coverage if he doesn’t fulfill more campaign promises by April 29, the 100th day of his presidency.

    The president is so preoccupied by the fear of such bad press, he’s already preemptively defending himself against it on social media.

    No matter how much I accomplish during the ridiculous standard of the first 100 days, & it has been a lot (including S.C.), media will kill!

    — Donald J. Trump (@realDonaldTrump) April 21, 2017
    To be fair, the 100-day milestone is arbitrary. But it’s also the deadline Trump set for himself in his “Contract with the American Voter.”

    Last year, Trump released a Contract With The American Voter, outlining an agenda for the first 100 days. Here's the status of that agenda:

    — Matt McDermott (@mattmfm) April 18, 2017
    It makes sense, then, that the White House would want a victory on its “big, beautiful wall” (and, if possible, its hideous health-care bill) by the end of next week. But why Trump thinks he can force Democrats to hand him that win is harder to understand.

    Trump has informed Democrats that he is deeply concerned about the optics of his 100th day. He has then ordered them to vote for his monument to American xenophobia — or else, he will force the government to shut down … on the morning of his 100th day.

    If Trump dreads the prospect of having no major legislative accomplishments to tout by day 100, then he must be horrified by the idea of the government literally ceasing to function the moment he hits that milestone.

    As Republicans well know, public anger over government dysfunction tends to fall hardest on the president and his party. Trump has the most to lose of any player in these negotiations — and he’s gone out of his way to make sure his adversaries are aware of that fact.

    And Democrats are using their leverage. Right now, the donkey party isn’t just telling Republicans what can’t be in the spending bill, but also what must be in it. Nancy Pelosi and Chuck Schumer have signaled that permanent funding for Obamacare’s cost-sharing subsidies will be the price of Democratic cooperation. A federal judge has ruled that those subsidies require a new congressional appropriation. But the Executive branch is allowed to continue providing them, so long as it proceeds with an appeal of that judge’s decision. This means that Trump could unilaterally gut Obamacare in a heartbeat, simply by withdrawing the government’s appeal. And, in recent weeks, the president has threatened to do just that.

    At this point, Congress’s best option is probably to buy more time for negotiations, by passing a continuing resolution to keep the government funded for an additional week or two. After that, their best bet may be a bipartisan deal in which Democrats agree to spending increases for immigration enforcement and the military in exchange for permanent funding for those Obamacare subsidies.

    Of course, that would require the president to give up his beloved wall and precious hostage. But as every artful dealer knows, that’s what happens when you let the other guy smell your blood.
    "For the person that we know in the daytime, we don't need to light a lamp to see his face at night." Ghanaian Proverb

  3. #10728

    Re: Politics Random Random

    Robert Reich‏Verified account @RBReich 14m14 minutes ago
    Trump wants to give a "one-time" tax amnesty to corporations with trillions in earnings abroad. Let's look at what happened the last time:

    "For the person that we know in the daytime, we don't need to light a lamp to see his face at night." Ghanaian Proverb

  4. #10729

    Re: Politics Random Random

    The Daily Edge‏ @TheDailyEdge 22h22 hours ago
    In his first 100 days Obama visited: Mexico, Canada, Iraq, UK, France Germany, Trinidad, Turkey, Czech.R


    "For the person that we know in the daytime, we don't need to light a lamp to see his face at night." Ghanaian Proverb

  5. #10730

    Re: Politics Random Random

    David Corn‏Verified account @DavidCornDC 4h4 hours ago
    David Corn Retweeted NBC News
    That is literally and seriously not true.

    NBC News‏Verified account @NBCNews 6h6 hours ago
    Mnuchin says Trump won't release tax returns: The president “has given more financial disclosure than anybody else"
    "For the person that we know in the daytime, we don't need to light a lamp to see his face at night." Ghanaian Proverb

  6. #10731

    Re: Politics Random Random

    President Trump’s Laughable Plan to Cut His Own Taxes

    As a rule, Republican presidents like offering tax cuts, and President Trump is no different. But the skimpy one-page tax proposal his administration released on Wednesday is, by any historical standard, a laughable stunt by a gang of plutocrats looking to enrich themselves at the expense of the country’s future.

    Two of Mr. Trump’s top lieutenants — Steven Mnuchin and Gary Cohn, both multimillionaires and former Goldman Sachs bankers — trotted out a plan that would slash taxes for businesses and wealthy families, including Mr. Trump’s, in the vague hope of propelling economic growth. So as to not seem completely venal, they served up a few goodies for the average wage-earning family, among them fewer and lower tax brackets and a higher standard deduction.

    The proposal was so empty of illustrative detail that few people could even begin to calculate its impact on their pocketbooks. Further, depending on where they live, some middle-class families might not benefit much or at all, because the plan does away with important deductions like those for state and local taxes.

    As to the rationale offered up by Mr. Mnuchin and Mr. Cohn, even many conservative economists believe that the argument that tax cuts will pay for themselves, by increasing investment and creating jobs, is the same supply-side fantasy that has repeatedly been proved wrong. This durable nonsense would instead add mightily to a federal debt that Americans will be paying off for generations to come.

    Here again, the long-term consequences were hard to figure, because Mr. Cohn and Mr. Mnuchin offered no estimates of the plan’s costs; guesswork by some analysts put the figure in the same ballpark as the tax plan Mr. Trump offered during the campaign, or about $7 trillion in additional debt over the first 10 years and nearly $21 trillion by 2036.

    Whatever the number, the outcome cannot be good. There are legitimate reasons to run deficits, including lifting the economy in tough times, strengthening the military against proven threats and building or rebuilding public infrastructure. Borrowing trillions of dollars to provide a huge windfall for people at the top is not one of those reasons.

    Mr. Trump’s plan aims to cut corporate tax rates from 35 percent to 15 percent. To hear the administration tell it, the present rate is choking investment and killing jobs. In fact, big businesses are earning record profits, and many of them pay no federal taxes. The corporate income tax brought in just 10.6 percent of the federal government’s revenue in 2015, down from between a quarter and a third of revenue in the 1950s, according to the Pew Research Center. A better approach, as part of broad-based reform, would be to eliminate loopholes that have encouraged businesses to avoid their fair share of taxes.

    Mr. Trump would also apply that 15 percent tax rate to pass-through income that business owners get from limited liability companies, a change that would directly benefit real estate developers like him. This would also create a huge incentive for wealthy Americans to turn their earnings into pass-through income in order to avoid paying higher personal income tax rates. This is no idle threat. Many Kansas residents, including the men’s basketball coach of the University of Kansas, have sheltered income in L.L.C.s since that state exempted income generated through such legal structures from its income tax in 2012.

    In addition to lowering the top individual income tax rate to 35 percent, Mr. Trump would do away with the alternative minimum tax, which accounted for a vast majority of the taxes he paid in 2005, according to his leaked tax return from that year, and is one way of making sure that most well-off Americans pay a significant tax on ordinary income. He would also get rid of the estate tax, benefiting mainly wealthy families like his.

    It is hard to know whether Mr. Trump’s tax plan or some version of it could pass. Republican leaders have said that they want to pass revenue-neutral changes to the tax code that would not explode the deficit. Still, many of these same lawmakers went along with the budget-busting tax cuts offered by President George W. Bush.

    Regardless of the plan’s fate, Mr. Trump has already sent a strong message about where his sympathies really lie. They lie not with the working people who elected him, but with the plutocracy that envelops him.
    "For the person that we know in the daytime, we don't need to light a lamp to see his face at night." Ghanaian Proverb

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