Posts tagged ‘tax cut’

The Republicans Have No Clothes (The Emperor’s New Clothes)

There are two things here, and the second is the most telling and chilling about who we are. The first is looking at what “tax loopholes” are being closed. Those would be teacher’s deducting the cost of subsidizing your kids education by deducting the cost of schools supplies. The second “loophole” cut will be those wicked blood sucking kids who can now deduct interest payments on their loans to try to get ahead and make our economy competitive.

The third “loophole” is those dastardly deductions for big medical expenses. If you are sick, screw you. Yep, we are going after those blood sucking Americans who suck us dry. Oh and for those of you that argue this isn’t really a big deal (some don’t itemize), see how much they figured they would save so they could give real “job creators” cuts without cutting their loopholes. If you wondered what Republicans looked like naked, there it is and they have no clue like the Emperor in the famous Hans Christian Anderson tale that they are now standing naked. Will anyone but the little boy (and Democrats) notice?

Item two is the whole sexual escapade of Trump and Roy Moore and Republicans looking the other way. These are the people where family values matter, and now when it comes to power and politics they don’t. President DFF cast dispersions at Al Franken, yet is silent on Roy Moore. Republicans call for Al Franken’s resignation, and yet President DFF’s own sexual assaults go ignored, with the justification he never admitted to it, but 14 women now say otherwise. This was out there before the election and America, thank you Wisconsin, Michigan, and Pennsylvania, elected him in the electoral college (another relic from the dark ages).

But what should raise the hair on the back of your neck is how “good” Christians in Alabama are reinterpreting the Bible to legitimize Roy Moore’s lusting after children. That in itself tells you all you want to know about putting a man in office who thinks his interpretation of the Bible trumps (pun intended) our Constitution. But here is the frosting on the cake. Alabama Governor, Kay Ivey tells us on Joy Reid this morning that holding the Senate is more important than electing a pedophile. Following that logic, you can see how Hitler rose to power. You can see how power and fear corrupt absolutely. And from Bible thumping Alabama. At this point the moral corruption in the Alabama GOP is complete, and religion, politics as a religion, and the moral superiority of Alabamian’s interpretation of the Bible are playing a large part.

Maybe the real people of Alabama will come to their senses, but this ought to scare you to death. We too could birth another Hitler, a Christian one this time. You can argue that other Republicans have spurned Roy Moore, but what of their leader the Dumb Fat Fuck. There is moral decay among the moral majority who, it turns out, are immoral after all.

So now you see the Emperor with no cloths. He does not give a wit about common people’s problems or struggles, and even more damning, he will sacrifice our Constitution and our moral values to hold on to power. Could it not be anymore clear?

WTF Friday

I start with a quote from Eugene Robinson this morning taking on General Kelly and his racism as he cast the Civil War as a failure to compromise. This is from the Mississippi proclamation when leaving the union:

“Our position is thoroughly identified with the institution of slavery — the greatest material interest of the world. Its labor supplies the product which constitutes by far the largest and most important portions of commerce of the earth. These products are peculiar to the climate verging on the tropical regions, and by an imperious law of nature, none but the black race can bear exposure to the tropical sun. These products have become necessities of the world, and a blow at slavery is a blow at commerce and civilization.”

Now Eugene was arguing about the debasement of the Trump White house and how they have reinvented history to their liking, but look at this in a whole new context, the declaration of corporations about how important their existence is and how they view labor in general. You think that is a reach. Remember when Bank of America downgraded Chipotle stock for over paying their employees? Think about how Republicans fight a living wage because it might make our products too expensive. Think about how corporations move jobs off shore to secure slave wages. No reach at all, but it is all justified much like the above in denying the basic humanity of all humans.

President DFF’s appointment of Jerome H. Powell to chair the Federal Reserve was the appointment of a financier and business (lawyer actually) man instead of an economist to the Fed. The DFF hates economists. But here is what you ought to think about. A financier and a business man should be an expert in microeconomics, what is good for a business or corporation at the expense of other business or corporations. An Economist would understand macroeconomics, how the entire economy responds to external and internal stimulus, not what is good for one business, which might be detrimental to others. More importantly, most economist understand the complicated connection between interest rates and monetary policy, In other words, what is good for the whole economy, not just my own profits and how to deal with recession and inflation. This confusion could be a very dangerous thing for the country as it is clear the DFF has no understanding of macroeconomics just as most successful business men do not.

President DFF lashed out after the attack in NYC against the “diversity lottery” for immigrants. He wants everyone merit tested. Now once again, this is a great example of how the DFF’s brain works, or does not work, and that he reacts to the anecdotal without a real examination of the facts. He is the perfect lynch mob leader, clueless and brainless, and quite dangerous. Karen Attiah gives us a look at the merit system and how it has worked for so many and made us a better country, but the reactionary DFF will destroy everything in his path as he reacts as a spoiled 3-year-old who does not like his cookie.

I would just like to say that the Tax Bill that Republicans have brought forward is a jumbled mess. There are two really good analysis of this by Paul Waldman and Catherine Rampell. Now first note that the budget resolution that passed the Senate (all Republicans, no Democrats) that allows this bill to cost no more than $1.5 trillion over the next 10 years is saying we are going to bust the budget by $1.5 trillion over the next ten years. If you are slow, the balance budget folks just said we are going to increase the deficit by $1.5 trillion. Say what? Next note that what they really did was try to give a major giveaway to the rich, some bones and scraps to the middle class, and then there is the math problem, how to keep all that within the $1.5 trillion. Thus the cut to deductions for student loans, home interest deductions, and state and local tax deductions. And as Catherine pointed out this hurts prosperous Blue States who have higher taxes and may make raising taxes for things we need to pay for harder. In a sense, reducing us to broke states.

Oh, and note that the average tax rat corporations pay is 12.6%, less now than what they want to lower the corporate tax rate to, without removing all their loop holes. And that brings me back to Eugene Robinson and the quote from Mississippi. It is the bill of rights of corporations and we are all so screwed. The WTF moment is that all this out there and the solutions are easy, but instead we have a DFF president and a Republican Party running on empty. Happy Friday.

The New Normal

I have, as many others have, been warning against accepting the DFF and Republicans falling in line behind him as the new normal. I have argued this is not normal and we should not normalize him or them. But it is the new normal. I don’t know about you, but when you don’t think it could get any worse, then you peruse the morning paper, and it is much worse. What are you to do (vote)? Here was a smattering of what is in the news this morning:

Let’s take the last two. Remember the Tea Party and the Tea Party Caucus in Congress. They were going to make the government fiscally sound again, “Debt is the problem!” “Balanced budgets!” Those were the guys and gals who shut down, or threatened to shut down the government over increasing the debt limit (stupid in itself). Now those boys and girls just passed a tax cut (none of them have read) that will add $1.5 trillion to the deficit. Say what? Oh, don’t worry, when they are faced with increasing the debt limit to fund what they approved, as they have to do each year they will balk. Yeah, makes no sense whatsoever.

Meanwhile, what of Democrats? Who cares? And that is about it. From their loss of the House in 2010 on they have been clueless that they are clueless. And the biggest problem is that it is the same old people which is part of the reason that even though they are making sense, no one is listening. Here is from Eugene Robinson cited above:

Both major parties are in crisis, and I believe the reason is that the ground has shifted beneath them in ways they do not understand. Until the contours of the new political landscape become clear and the parties reshape themselves accordingly, I fear that chaos and turmoil will reign as the new normal.

Let me be clear: I am not postulating any sort of false equivalency. It was the Republican Party that nominated Trump for president, and it consequently must be blamed for this horror show of an administration. The party that loves to grandly invoke the name of Abraham Lincoln sent to the White House a crass egomaniac who cynically heightens racial animosities — a man who, by temperament and ability, is patently unfit for high office. You did that, Republicans.

…But the party (Democrats) managed to lose a presidential election to a man who had never been elected to public office, who slandered Mexican immigrants as rapists, who used African Americans and Latinos as foils to help him stoke feelings of grievance among whites, and who bragged about sexually harassing and assaulting random women. You lost to that guy, Democrats.

The party of Franklin Roosevelt allowed the GOP to pretend to champion the interests of the working class. Failure to connect with white voters in the Rust Belt is only part of the story of last year’s defeat, and maybe not the most important part. Democrats failed to sufficiently energize their core constituencies — urbanites, African Americans, Latinos, women, young people.

But what we got was the same old party pushing away the new blood and resurrecting the old establishment. As I noted yesterday, even Donna Brazile is back. So no one cares what they have to say because, let’s face it, they are losers. So that is where we are today. Republicans out of control trying to pass anything without the slightest scintilla of analysis, but a win on the coat strings of a narcissistic pig, and Democrats feckless to understand that the ground is moving under their feet. Just another Friday where it would seem the only news worth watching is sports news. Go Houston/Dodgers. I haven’t decided yet. This is just great baseball. Maybe that is all we have left of America.

And a Chicken in Every Pot!!!

I am listening to the DIC (Dotard in Charge) talk about his tax cut plan and lie through his teeth about he or his wealthy friends not getting big breaks.  I am thinking he must really think we are stupid, and then I look at Alabama’s nomination of a right wing nut (more religion in government (whose religion?), and outlaw gays) to run as their GOP candidate, and maybe he is right.  But let us just stick with the tax “reform” plan.

First question you might want to ask is how do we pay for all this cutting?  One, if he were rational, would start from the understanding of what we need to invest in future, add that to our current obligations and figure out how much money we want to have coming in.  Now this would include what is a reasonable debt (based upon % of GDP) and how to pay for programs in the future.  Then understanding our income needs, we could look are reforming the tax code to simplify, and decrease/increase where it makes sense.

Now we could argue about expanding Social Security by allowing the tax not to be capped at a certain income level.  We could argue about Medicare for all and how to pay for it with a trade-off of higher taxes versus no private insurance bills.  But we are not doing that, we are cutting, cutting, cutting, and what of the deficit.  Oh wait,  I forgot, tax cuts pay for themselves except of course, they don’t.  So the first question to be asked is how does this devastate the deficit.  I happen to be one who thinks a reasonable debt is okay and necessary, but make no mistake, they guys who want a balanced budget don’t give a shit about the debt when it comes to tax cuts, and will cut programs like healthcare (Medicare and Medicaid), education, R&D, infrastructure spending, and Social Security to keep their cuts.

Now, it is true that some pay way to much in taxes.  They are the ones who really need a tax cut, and they have no power.  Those that have power have already massaged the system.  You don’t really think that while we have the highest corporate tax rate, they actually pay that right?  Of course they don’t because they have gamed the system with their money and the gaming continues with the DIC out there lying through his teeth.  So let’s see the details and see what this really costs us, but unless they can pass this with 50 votes, it is probably dead meat.

In many ways one has to ask, what is the strategic plan of Republicans and how does this fit into a vision of  a great tomorrow.  It doesn’, and it is repeal and replace and cut taxes and the devil is in the details.  It assumes as always that government is bad, regulations are bad, and markets should be free to solve all problems.  It has never worked and this is more of their nonsense.  But hey! who does not want a free ride?  That is what America has become.