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  1. #571
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    The $1.3 trillion tax increase Trump announced in his State of the Union speech

    Trump administration wants to spend $1.5 trillion on America’s infrastructure.

    Here’s how Trump plans to make you pay for it.


    In the State of the Union speech this week, President Trump announced:

    Tonight, I am calling on the Congress to produce a bill that generates at least $1.5 trillion for the new infrastructure investment we need.


    On the surface this sounds like he wants Congress to authorize $1.5 in infrastructure investment. Notice the curious turn of phrase though “a bill that generates $1.5 trillion.”


    He doesn’t explain this term in detail, but he does say:

    Every Federal dollar should be leveraged by partnering with State and local governments and, where appropriate, tapping into private sector investment -- to permanently fix the infrastructure deficit.

    This means the Trump plan is looking for the difference—a whopping $1.3 trillion—from:


    1. State governments
    2. Local governments
    3. The private sector


    How do these entities operate?


    State and local governments


    The two most common ways for state and local governments to raise money is through tax increases or by taking on more debt by issuing bonds.


    State governments could raise state income taxes, state sales taxes, sin taxes, estate taxes, luxury taxes, or corporate taxes.

    We know they won’t raise any taxes on the wealthy or corporations, because these groups have enough lobbying power to prevent it.

    This means any of that $1.3 trillion that comes from local or state governments could come from tax increases on the 99 percent.


    This means that the private sector will expect to make more than any part of that $1.3 trillion they invest back in return for their investment. For example, if the private sector invests $800 billion, they will want that $800 billion back plus a hefty profit on top of that $800 billion.

    Wait … So you’re saying that it’s now going to cost more than $1.3 trillion?


    If it’s through the private sector, yes. It will be $1.3 trillion plus the profit that the investors expect.

    Once they sell the infrastructure to private investors, said private investors will turn around and charge the public fees or tolls.

    In Virginia, two private companies, Macquarie and Skanska, hold tolling rights for the tunnels in Hampton Roads until the year 2070. Macquarie has been criticized for sending invoices of up to $18,000 to low-income drivers.


    By definition, these fees/tolls will be more than the original investment so that the investors can turn a profit.


    Voila. Infrastructure is paid for by you, the public.



    https://www.dailykos.com/stories/2018/2/4/1737764/-The-1-3-trillion-tax-increase-Trump-announced-in-his-State-of-the-Union-speech

    Here's the kind of deal I expect for BigFinance to "pay for" the infrastructure:

    We'll buy your infrastructure bonds at a LIBOR-based rate. .

    To encourage us to rip off citizens, Repugs will make our profits from the interest on the infrastructure bonds tax free, and we'll demand ownership of the infrastructure.



  2. #572
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    Repugs are fiscally conservative!

    Era Of Trillion-Dollar Budget Deficits Is Making A Comeback

    at issue is a two-year deal to increase crunching caps on spending set by a failed 2011 budget deal. Republicans have pushed for defense increases in the neighborhood of $80 billion a year and have offered Democrats nearly as much — $60 billion or so per year — for nondefense programs.

    Add in $80 billion to $90 billion worth of hurricane aid for Texas, Florida and Puerto Rico, health care funding and money for President Donald Trump’s border security plan, and the final tally could total close to $400 billion. The potential cost, over the 2018-19 budget years, would rival the deficit impact of last year’s tax measure over that period.


    “Republicans for years have made all of these bold promises to rein in spending,” .... “And they’re doing the opposite.”

    a follow-up omnibus spending bill, whose overall cost is likely to exceed $1.2 trillion. That means domestic programs get their due, despite the opposition of conservatives.

    Republican deficit hawks stepped aside during last year’s tax debate, and it’s not looking like they’ll mount a stand now.

    Instead, GOP defense hawks worried about lagging readiness, training and weapons procurement

    are carrying the day, even if it means placating Democrats with spending elsewhere.

    “This budget dysfunction has a human cost, and our military is bearing the brunt of it,”

    https://talkingpointsmemo.com/news/e...+%28TPMNews%29


    MIC spending is fraudulent, corrupt corporate welfare, redistributing taxpayer wealth upwards.



  3. #573
    Believe. Th'Pusher's Avatar
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    I'm surprised that no one's brought up the question of: Who saw more money in their last paycheck?
    The increase was reflected in my paycheck this week. My household net income will increase by ~$500 per month. Every penny of it will go straight into my kid’s 529. That’ll do wonders for the economy

    And the extra $6k per year won’t buy my vote come 2020.

  4. #574
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    Accounting firm just said DoD lost track of $1B

    Very surprised it's so low. DoD is totally corrupt, nothing but corporate welfare for the MIC

  5. #575
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    Kimberly-Clark Uses GOP Tax Break to Sucker Punch Wisconsin Workers
    Kimberly-Clark, maker of paper-based products such as Kleenex, Viva paper towels, Cottonelle bathroom tissue and Huggies disposable diapers, announced earlier this month that the corporation would

    use its tax cut windfall to pay the costs of closing 10 factories and dumping as many as 5,500 workers worldwide.

    It wasn’t that Kimberly-Clark was insolvent. Just the opposite. Last year, its profit was $2.28 billion or $6.40 a share. For 2018, the corporation is shooting for more, at least $6.90 a share, by “reorganizing,” that is, ditching factories and workers.

    David said he thinks the workers in Wisconsin’s Fox Valley who voted for Trump want to see some follow through on his promises to create jobs, raise incomes and establish fair trade.

    None of that is accomplished by the GOP tax scam that

    promoted off-shoring by granting corporations lower tax rates for overseas factories and that

    gave massive breaks to job-cutting corporations like Kimberly-Clark.


    https://www.dailykos.com/stories/2018/2/4/1738322/-Kimberly-Clark-Uses-GOP-Tax-Break-to-Sucker-Punch-Wisconsin-Workers?detail=emaildkre

    Trash's infamous "white working class" voters were LIED TO by anit-LABOR Trash, and now they're fucked bad



  6. #576
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    Wakanda isn't enough?

    Disney is using 'tax cut bonus' to try to force union workers to accept low pay

    Disney got some positive press for saying it would give its workers a $1,000 tax cut bonus—but it’s using the bonus to try to force some of its lower-paid workers to accept a bad deal at the bargaining table.

    The entertainment giant carefully specified that the bonuses would go to union workers “currently working under existing union contracts”—and that doesn’t apply to everyone.

    They say rank-and-file workers in December voted 93% against Disney's most recent offer of a

    50-cent-an-hour raise over the next two years,

    coupled with a $200 signing bonus.

    Most unionized Disney World employees make less than $11 an hour, according to the union.


    Only 3,000 make more than $15 an hour.

    The union says the average hourly wage for its members is $10.71.

    Eric Clinton, president of the Unite Here local at the theme park, said Disney is forcing the union to accept that same rejected offer for its members to receive the $1,000 bonus due to other Disney employees. [...]

    He said the union has filed an unfair labor practice complaint alleging that the demand amounts to punishing members for engaging in legally protected contract negotiations.

    https://www.dailykos.com/stories/201...accept-low-pay


    Union workers want Disney to pay their $1,000 tax cut bonuses

    "In other words Disney said you can have $1,000 if you agree to stay poor,"

    http://money.cnn.com/2018/02/20/news/companies/disney-world-union-workers-tax-reform-bonus/index.html



  7. #577
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    'This is not normal': Glitches mar new tax law

    The glitches in the new tax law are starting to pile up.

    One inadvertently denies restaurants, retailers and others generous new write-offs for things like remodeling.


    Another would allow wealthy money managers to sidestep a crackdown on lucrative tax breaks that allows them to pay lower taxes on some of their income than ordinary wage earners. A third creates two different start dates for new rules that make it harder for businesses to shave their tax bills.

    There are dozens of other snafus, hitting everything from real estate investments to multinational corporations to farmers.


    It’s hardly surprising there would be bugs in the sprawling new law H.R. 1 (115), but some experts say the sheer number is unusual, and blame the breakneck pace at which the legislation was pushed through Congress.


    “This is not normal,” said Marty Sullivan, chief economist at the nonpartisan Tax Analysts.

    “There’s always this kind of stuff, but the order of magnitude is entirely different.”

    Some of the glitches are simple drafting errors.

    Others would have unintended consequences.

    Still others are things in the law that aren’t clear.


    One snafu, which could potentially affect President Donald Trump’s real estate business, prevents people making various types of improvements to non-residential real estate from immediately deducting their entire cost, as lawmakers intended.

    An apparent typo means they have to instead take those breaks piecemeal over the next 39 years.

    That is already squeezing some companies’ finances, said Rachelle Bernstein, tax counsel at the National Retail Federation.

    “There are real economic implications right now,”

    Another bug may allow hedge funds, private equity firms and others to dodge a crackdown on the rules surrounding so-called carried interest

    by taking advantage of a vague reference in the law excusing corporations from the new rules.

    Lawmakers appear to have meant C corporations like Apple or Ford, but

    lawyers say it could also excuse S corporations, which could be easily used to duck the restrictions.

    Another glitch allows people investing in real estate to claim a new deduction for pass-through income – but only if they own real estate stocks directly.

    If they own them through mutual funds, as many Americans do, they don’t qualify for the break.

    Other things are unclear like the law’s new minimum tax on multinational companies’ foreign earnings, which has tax experts jousting in tax journals and elsewhere over what exactly is subject to the levy.

    Another provision, which Republicans say they are eager to address,

    could allow farmers who sell grain to cooperatives to avoid taxes entirely.

    Though that’s been dubbed the “grain glitch,” it was included in the legislation at the insistence of multiple senators despite warnings of its implications.

    https://www.politico.com/story/2018/...hes-gop-423434

    Repug governance! What's Not To Ridicule?


    Repugs' overriding objective was to cut taxes for the oligarchy, and fuck the details. In fact, Repugs fucking up their laws is part of their strategy to fuck up govt, and make people hate govt.




  8. #578
    Believe. KenMcCoy's Avatar
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    I do corporate taxes for a living...lawmakers screwing up the law and inadvertently taxing some things while leaving gaping loopholes IS normal.

  9. #579
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    I do corporate taxes for a living...lawmakers screwing up the law and inadvertently taxing some things while leaving gaping loopholes IS normal.
    others say the magnitude of Repug fuckups ISN'T normal

  10. #580
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    While Trump Deals With A Porn Star, Congress Passes Barack Obama's Budget.



    From Russell Berman of The Atlantic:

    President Obama finally got a Republican-controlled Congress to fund his domestic budget.

    All it took was Donald Trump in the White House to get it done.


    In the $1.3 trillion spending bill that President Trump reluctantly signed on Friday,

    lawmakers did more than reject the steep cuts in dollars and programs that Trump proposed for domestic agencies a year ago.

    Across much of the government, Republican leaders agreed to spending levels that matched or even exceeded what Obama asked Congress to appropriate in his final budget request in 2016

    —and many of which lawmakers ignored while he was in office.

    Amazing how prescient this nation’s last real President was!

    The Department of Health and Human Services received $78 billion, nearly identical to the $77.9 billion Obama sought and almost 20 percent more than what the Trump budget called for.

    Ditto for the Department of Labor and the Department of Education, which got $1.5 billion more than Obama’s final request and nearly $12 billion more than the reduced level Trump sought.

    Obama-era priorities like Head Start and Pell Grants drew increases, too.

    The lesson here is not only that most of President Obama’s budget numbers were right on target...because he hired, you know, competent people to calculate them—but the fact that

    Trump’s were so grossly off the mark as to be too embarrassing for even the Republican-dominated Congress to stomach:

    Congress eliminated none of the 18 independent agencies Trump wanted to scrap,
    including the Corporation for Public Broadcasting,
    the National Endowment for the Arts, and
    the National Endowment for the Humanities.

    And several of the programs he wanted to zero out won huge increases instead.

    Take the TIGER grants, an infrastructure program created by Obama’s 2009 economic stimulus package.

    Congress had allocated $500 million to it each of the last several years, despite annual Obama requests to boost it to $1.25 billion.

    Trump’s budget called for axing it entirely,

    but lawmakers went even higher than Obama, giving $1.5 billion to TIGER.

    Or the Community Development Block Grant, a federal housing program that had been receiving $3 billion from Congress annually.

    Obama actually proposed cutting its funding by $200 million in 2016, while Trump called for chopping it altogether.

    In the end, it received $3.3 billion—a 10 percent boost.

    As Berman points out, this was a budget enacted under complete Republican control

    https://www.dailykos.com/stories/201...tail=emaildkre



    Trash draining the swamp for evangelical Christians and God!


  11. #581
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    The US will be borrowing $300 billion this week, largest amount since 2008 financial crisis

    What happens when you give super wealthy people tax cuts,

    while not guaranteeing any other revenue streams for your country, and

    zero investment in actual programs that might lead to stronger economic futures? Just plain old debt.

    As
    CNN reports, the United States will be selling off about $294 billion in debt—cause we need some cash!

    Federal revenue is declining because of President Trump's tax cuts, so the government needs to borrow more to make ends meet. At the same time, Washington's borrowing costs have climbed rapidly in recent months. [...]

    At the same time, the Federal Reserve has stopped buying US debt

    as it unwinds a financial crisis-era program that was aimed at keeping borrowing costs low.

    And investors are growing more worried that inflation will force the Fed to raise short-term interest rates,making all kinds of debt more expensive.


    "It's a tricky dynamic for the markets," Rieder said.

    https://www.dailykos.com/stories/201...tail=emaildkre

  12. #582
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    Get 1200 more back next year if stay the same also get 107 dollars a month more
    Thanks trump ������������
    _____________________________
    There are roughly 312 million people in the United States. There are Roughly 357 million guns. There are Approximately 32,000 deaths per year from firearms. 60% are Suicides. That is 19,220 3% are Accidental. That is 960. 4% are justified. That is 1,200 33% are Homicides. That is 10,560. 80% of those Homicides are Gang related. That is 8,488. That leaves 1,713 in a society of 312 million people. That gives you a 0.010256410256% chance of death by gun. A 0.008564% chance if you don't hang out in the hood not planning a crime and not planning on committing suicide. The United States Does Not have a Gun problem.

  13. #583
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    TRUMP TAX CUT TRUTHS

    HOW ALL OF AMERICA'S BUSINESSESARE SPENDING THEIR TRUMP TAX CUTS

    4% of workers getting bonuses &/or wage hikes


    6.3 MILLION out of 148 MILLION


    Businesses giving bonuses &/or wage hikes

    383 out of 26 MILLION


    Tax cuts vs. bonuses &/or wage hikes

    $61 BILLION vs. $6.5 BILLION


    Corporate stock buy backs vs.workers’ bonuses & wage hikes.

    $238 BILLION vs. $6.5 BILLION

    HOW AMERICA'S 500 RICHEST CORPORATIONS ARE SPENDING THEIR TRUMP TAX CUTS

    Stock buybacks vs.bonuses &/or wage hikes

    $201 BILLION vs. $5.7 BILLION

    Corporations giving bonuses &/or wage hikes

    65
    out of 500

    https://americansfortaxfairness.org/...trump-tax-scam

    And what about the huge hikes in investments, durable goods, research, machinery, that were being held back by taxes?




  14. #584
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    6 Wall Street Banks Saved $3.6 Billion In Taxes Thanks To Trump’s Tax Law


    The results show why banks supported the tax overhaul. Tax rates at banks such as JPMorgan Chase, Goldman Sachs and Morgan Stanley dropped to between 17 and 23 percent.

    https://talkingpointsmemo.com/news/w...+%28TPMNews%29

  15. #585
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    As GOP Spends Big Money Trying to Make Corporate Tax Cut Popular, New Poll Shows Most Americans Still Smart Enough to Hate It

    "Republicans are going to throw more money and air time to try to make their tax bill popular.

    But so far, at least, voters have somehow figured out that

    a giveaway to wealthy corporations is not in their best interests."

    https://www.commondreams.org/news/20...to%20Hate%20It





  16. #586
    Veteran DarrinS's Avatar
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    I made the most in 2017 than I have ever made in one year. Paid over 120k in taxes. New tax law would have saved me over 20k in taxes, because of higher standard deduction. But, Dems should definitely run against this.

  17. #587
    Veteran DarrinS's Avatar
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    Oh, and instead of 33% bracket, I would be at a lower percentage. Fvckin one third — ridiculous.

  18. #588
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    I made the most in 2017 than I have ever made in one year. Paid over 120k in taxes. New tax law would have saved me over 20k in taxes, because of higher standard deduction. But, Dems should definitely run against this.
    Im impressed with your salary. You paid 120k and didnt itemize? Im hoping the new tax law will just be a wash for me but think its gonna cost me about 20K more. My returns more complicated and I cant use the standard deductions.

  19. #589
    Veteran DarrinS's Avatar
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    Im impressed with your salary. You paid 120k and didnt itemize? Im hoping the new tax law will just be a wash for me but think its gonna cost me about 20K more. My returns more complicated and I cant use the standard deductions.

    It’s not my usual salary. I got a payout from my company stock option. Not much to itemize as previous home was paid off and kids are too old now. And I had my allowances on w4 set too high (set to zero now).

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