Repug tax cut

[Winehole23]

AIPAC isn't world Jewry, and the political state of Israel and its policies aren't "the Jews."

[Spurminator]

And now, at least in Texas.

Texas has been humming for a while now, through several iterations of federal tax policy. Colorado and Washington are doing even better.

[boutons_deux]

Trash’s tax cuts are failing spectacularly as the GOP’s predictions go down in flames

“A treasury secretary who can’t count needs to be held accountable.”

the deficit has soared in the two years since (https://www.commondreams.org/news/2017/12/22/corporations-are-literally-going-wild-says-trump-he-signs-tax-bill-most-americans) passage of the tax legislation.

CNN reported (https://www.cnn.com/2019/09/12/business/us-federal-deficit-august/index.html) earlier this month that the deficit topped a trillion dollars during the first 11 months of fiscal year 2019.


“Mnuchin’s empty promise shows just how much the 2017 tax cuts for the rich were a scam on the American people,”

“Mnuchin’s prediction was off by $1 trillion.”

Mnuchin’s other

false promises, including his prediction that the Republican tax bill would send economic growth soaring above three percent.

“Annual gross domestic product was under three percent last year after passage of the tax cuts, and

the latest third quarter results show GDP growth of two percent and a likely increase of 2.2 percent for the year.”

the tax bill did virtually nothing to boost wages or GDP.

the tax cuts led to a surge in stock buybacks (https://www.commondreams.org/news/2018/05/22/all-time-highs-stock-buybacks-and-bank-profits-workers-languish-trumps-america), which largely benefit rich executives.

Republican allies are deliberately boosting the budget deficit

to bolster their case for slashing safety net programs like Medicare, Medicaid, and Social Security.

Trump has discussed cutting major social programs as a possible “second-term project.”

“This was the bait-and-switch plan all along,” Clemente said.

“Bust the budget with tax handouts to the rich and corporations, and

then pay for them by cutting essential services to working families.”

https://www.rawstory.com/2019/09/trumps-tax-cuts-are-failing-spectacularly-as-the-gops-predictions-go-down-in-flames/?utm_source=&utm_medium=email&utm_campaign=1578 (https://www.rawstory.com/2019/09/trumps-tax-cuts-are-failing-spectacularly-as-the-gops-predictions-go-down-in-flames/?utm_source=&utm_medium=email&utm_campaign=1578)

[TheGreatYacht]

Low IQ Fox Guest Claims Wealth Tax Hurts The Poor & Middle Class

https://youtu.be/OyAR_0pHZYc

[boutons_deux]

RECESSION LOOMING? CORPORATE KINGPINS ARE DUMPING STOCK

insiders are selling at rates unseen in two decades.

Executives across the United States are shedding stock in their own companies at the fastest pace in two decades, amid concerns that the long bull market in equities is reaching its final stages (https://www.ozy.com/opinion/the-next-recession/96023).

Corporate insiders — typically CEOs, chief financial officers and board members — sold a combined $19 billion of stock in their companies through to mid-September,

That year executives sold $37 billion of stock amid the giddy highs of the dot-com bubble. That projected total for the year would also set a postcrisis high, eclipsing the $25 billion of stock sold in 2017.

Enthusiastic sellers of their own stock this year include members of the Walton family, who have sold a combined $2.2 billion of shares in the Walmart retail empire (https://www.ozy.com/fast-forward/rural-kansas-fights-to-save-grocery-shops/82561). Executives at Estée Lauder, the cosmetics giant, and clothing group Lululemon Athletica also appear among the most active sellers,

Investors often use data on insider stock sales as a rough marker for the confidence of executives in their own companies’ prospects.

Spikes in selling indicate that top figures in boardrooms around the country are taking advantage of high valuations in the U.S. stock market, which has broken records this year but which faces pressures stemming from slowing global growth and Washington’s lengthy trade dispute with Beijing (https://www.ozy.com/opinion/donald-dossier-its-the-economy-stupid/96233).


FACEBOOK CEO MARK ZUCKERBERG

HAS SOLD $960 MILLION IN STOCK FOR THE YEAR SO FAR.


https://www.ozy.com/acumen/recession-looming-corporate-kingpins-are-dumping-stock/96958?utm_term=OZY&utm_source=Sailthru&utm_medium=email&utm_campaign=DD_2019_09_29&utm_content=Final (https://www.ozy.com/acumen/recession-looming-corporate-kingpins-are-dumping-stock/96958?utm_term=OZY&utm_source=Sailthru&utm_medium=email&utm_campaign=DD_2019_09_29&utm_content=Final)

[boutons_deux]

Trump’s Trillion-Dollar Hit to Homeowners

By reducing deductions for real estate taxes, Trump’s 2017 tax plan has harmed millions — and helped give corporations a $680 billion gift.

it has inflicted a trillion dollars of damage on homeowners — many of them middle class — throughout the country?

That massive number is the reduction in home values caused by the 2017 tax law that capped federal deductions for state and local real estate and income taxes at $10,000 a year and also eliminated some mortgage interest deductions. The impact varies widely across different areas.

Counties with high home prices and high real estate taxes and where homeowners have big mortgages are suffering the biggest hit, as you’d expect, given the larger value of the lost tax deductions.

because of the 2017 tax law, U.S. house prices overall are about 4% lower than they’d otherwise be.

The next question is how many dollars of lost home value that 4% translates into.

The Federal Reserve Board says that as of March 31, U.S. home values totaled about $26.1 trillion.

Apply Zandi’s 4% number to that, and you end up with a $1.04 trillion setback for the nation’s home owners. That’s right — a trillion, with a T.

house prices are about 4% lower than they’d otherwise be.

Zandi’s numbers imply that homeowners’ equity is down about 6.6% from where it would otherwise be.

(That’s the $1.04 trillion value loss divided by the $15.76 trillion of equity.)

a very big deal to families whose biggest financial asset is the equity they have in their homes. And there are untold millions of families in that situation.

estimated home-price damage done to about 3,000 counties throughout the country. I was fascinated — and appalled — to see that

the biggest estimated value loss in percentage terms, 11.3%, was in Essex County, New Jersey

the four other counties that make up the five biggest-losers list are:

Westchester County, New York, suburban New York City, 11.1%;

Union County, New Jersey, which is adjacent to Essex County, 11.0%;

New York County, the New York City borough of Manhattan, 10.4%; and

Lake County, Illinois, suburban Chicago, 9.9%.

even homeowners who aren’t affected by the inability to deduct all their real estate taxes and mortgage interest costs are affected by the tax bill.

higher interest rates for buyers translate into lower prices for sellers and therefore produce lower values for owners.

eliminating the deduction for millions of homeowners inflicted serious financial damage on homeowners who had no warning that a major tax deduction that they were used to getting would be wiped out.

According to the Tax Policy Center,

the Treasury will get $620 billion of additional revenue over a 10-year period because people can’t deduct their full state and local taxes. ( iow, the Trash/Repug tax cut was a huge tax increase )
That, in turn,

covers most of the 10-year, $680 billion cost of the income tax break that corporations are getting.

So you can make a case that my friends and neighbors and co-workers in New York and New Jersey — and many of you all over the country — are paying more federal income tax in order to help corporations pay less federal income tax.

That, my friends, is the bottom line.

https://www.propublica.org/article/trumps-trillion-dollar-hit-to-homeowners?utm_source=pardot&utm_medium=email&utm_campaign=majorinvestigations (https://www.propublica.org/article/trumps-trillion-dollar-hit-to-homeowners?utm_source=pardot&utm_medium=email&utm_campaign=majorinvestigations)

"revenue neutral" : fuck the non-oligarchy while enriching the oligarchy.

[boutons_deux]

One Trump Tax Cut Was Meant to Help the Poor.

A Billionaire Ended Up Winning Big.

Opportunity zones are meant to spur new investment in poor areas.

But Under Armour’s Kevin Plank is getting

a tax break for investments

that are not new and

not in a poor tract.

And Plank’s area was picked over neighborhoods that are actually poor.

Lying near a development project

controlled by Under Armour’s billionaire CEO Kevin Plank, one of Maryland’s richest men, and Goldman Sachs,

the little sliver of land will allow Plank and the other investors to claim what could amount to millions in tax breaks for the project, known as Port Covington.

https://www.nbcnews.com/business/business-news/trump-has-lost-1-billion-personal-wealth-running-president-n916221 (https://www.nbcnews.com/business/business-news/trump-has-lost-1-billion-personal-wealth-running-president-n916221)

[boutons_deux]

How a Tax Break to Help the Poor Went to NBA Owner Dan Gilbert

After a lobbying effort, Dan Gilbert, billionaire founder of Quicken Loans,

won special tax status for wealthy areas of downtown Detroit where he owns billions worth of property.

https://www.propublica.org/article/how-a-tax-break-to-help-the-poor-went-to-nba-owner-dan-gilbert?utm_source=pardot&utm_medium=email&utm_campaign=majorinvestigations (https://www.propublica.org/article/how-a-tax-break-to-help-the-poor-went-to-nba-owner-dan-gilbert?utm_source=pardot&utm_medium=email&utm_campaign=majorinvestigations)

[boutons_deux]

As always, the oligarchy buys the govt policies, regs, rules that enrich itself and starve everybody else.

[boutons_deux]

The GOP Tax Cuts Didn’t Work

Republicans said the reform would

grow the economy by up to 6 percent,

stimulate business investment, and

pay for itself.

None of that happened.

https://www.theatlantic.com/ideas/archive/2019/10/why-donald-trumps-economic-dream-crumbled/601153/?utm_content=edit-promo&utm_campaign=the-atlantic&utm_medium=social&utm_source=facebook&utm_term=2019-10-31T10%3A00%3A44&fbclid=IwAR0za3m8MUZG-yScOn5Pxa_0HTXnRGaApPKIQzxJijsAxCBVRpT1OclHSas (https://www.theatlantic.com/ideas/archive/2019/10/why-donald-trumps-economic-dream-crumbled/601153/?utm_content=edit-promo&utm_campaign=the-atlantic&utm_medium=social&utm_source=facebook&utm_term=2019-10-31T10%3A00%3A44&fbclid=IwAR0za3m8MUZG-yScOn5Pxa_0HTXnRGaApPKIQzxJijsAxCBVRpT1OclHSas)

[boutons_deux]

Charities fear continuing downward trend in giving as GOP tax law changes discourage donations (https://www.dailykos.com/stories/2019/12/2/1903018/-Charities-fear-continuing-downward-trend-in-giving-as-GOP-tax-law-changes-discourage-donations)

charitable giving has contracted in the wake of tax code changes implemented under the Tax Cuts and Jobs Act of 2017.

The nonprofit Marketplace reports (https://www.marketplace.org/2019/12/02/charities-worry-giving-will-fall-for-a-second-straight-year/) that the

near-doubling of the standard tax deduction for most Americans under the act has made itemizing deductions—formerly an incentive to donating to nonprofits—less attractive.

“The kinds of people who support food banks and local social services,

they tend to be people who are middle class or lower class.

That’s because they’re much more in touch with the needs of social services;

maybe they’ve benefited themselves from a social service at some point.”

“Now, we don’t think people just give because of the tax benefit. But we certainly think it affects the amount they give.”
“I’ve never seen a dip like this.”

https://www.dailykos.com/stories/2019/12/2/1903018/-Charities-fear-continuing-downward-trend-in-giving-as-GOP-tax-law-changes-discourage-donations?detail=emaildkre (https://www.dailykos.com/stories/2019/12/2/1903018/-Charities-fear-continuing-downward-trend-in-giving-as-GOP-tax-law-changes-discourage-donations?detail=emaildkre)

[boutons_deux]

After 2 Years, Trump Tax Cuts Have Failed To Deliver On GOP's Promises

It was supposed to be a gift-wrapped present to taxpayers and the economy.

But in hindsight, it looks more like a costly lump of coal.

more than 60% of the tax savings went to people in the top 20% of the income ladder

The measure also slashed the corporate tax rate by 40%.

"It will be rocket fuel for our economy," Trump promised. :lol

"The tax plan will pay for itself with economic growth," :lol

"It was unbelievable at the time, and it's proven to be absolutely untrue,"

"The tax cuts were never going to — and have not — come anywhere close to paying for themselves."

Corporate tax revenues fell 31% (https://www.cbo.gov/system/files/2018-11/54647-MBR.pdf) in the first year after the cut was passed.

Overall tax revenues have declined (https://www.cbo.gov/publication/55551) as a share of the economy in each of the two years since the tax cut took effect.

https://apps.npr.org/dailygraphics/graphics/budget-20191219/fallback.png


"Not surprising, if you cut taxes, you get less in revenues,"

"And what we've been doing at the same time is we've been increasing spending.

And no surprise, our deficit has exploded."

The federal deficit this year (http://www.crfb.org/blogs/treasury-2019-deficit-was-984-billion) was $984 billion — an extraordinary figure at a time when the country is not mired in recession or widespread war.

"After eight straight years of slow growth and underperformance, America is ready to take off,"

Senate Majority Leader Mitch McConnell said :lol The Repugs blocked ALL types of economic stimulus that would make Obama/Dems look good

the economy grew 2.9% (https://www.npr.org/2019/02/28/698884578/u-s-economy-grew-2-9-percent-in-2018-just-below-trumps-target) last year — exactly the same as in 2015.

"A year further down the road, we're really not seeing much of any leftover of this fiscal stimulus package."

the economy is projected to grow only about 2% this coming year. That's below the administration's target of 3% and

slightly below the average growth rate since 2010.

only about 40% of Americans approved of the cut while 49% disapproved.

experts say most workers did get a bump in their take-home pay,

it was largely invisible to many taxpayers.

Only about 14% of those surveyed by Gallup believe their taxes went down.

"For millions of middle-class Americans, it is not a very happy anniversary,"

the president is now talking about another round of tax cuts, after the 2020 election.

"We're going to be doing a major middle-income tax cut, if we take back the House," :lol

https://www.npr.org/2019/12/20/789540931/2-years-later-trump-tax-cuts-have-failed-to-deliver-on-gops-promises (https://www.npr.org/2019/12/20/789540931/2-years-later-trump-tax-cuts-have-failed-to-deliver-on-gops-promises)

[boutons_deux]

New analysis of Trump and Republican tax breaks shows tons of corporations paying nothing in taxes (https://www.dailykos.com/stories/2019/12/26/1906272/-New-analysis-of-Trump-and-Republican-tax-breaks-shows-tons-of-corporations-paying-nothing-in-taxes)

The Institute on Taxation and Economic Policy (ITEP.ORG) has done an analysis of 379 corporations and their tax burdens since the Republican Party and Donald Trump gave them the enormous tax cuts that most Americans were dead-set against.

“Corporate Tax Avoidance In The First Year of The Trump Tax Law” is available


The 379 profitable corporations identified in this study paid an effective federal income tax rate of 11.3 percent on their 2018 income, slightly more than half the statutory 21 percent tax

91 corporations did not pay federal income taxes on their 2018 U.S. income. These corporations include Amazon, Chevron, Halliburton and IBM. An ITEP study released in April 2019 examined 2018 Fortune 500 filings released to date and found 60 companies paid zero in federal income taxes. Now, all companies have released their 2018 financial filings, and this report reflects that.

Another 56 companies paid effective tax rates between 0 percent and 5 percent on their 2018 income. Their average effective tax rate was 2 percent.

Of the 91 corporations not paying anything in federal income taxes, here are the top 10 most profitable:


Amazon.com
Delta Air Lines
Starbucks
Chevron
General Motors
EOG Resources
Occidental Petroleum
Duke Energy
Dominion Resources
Honeywell International


In all 10 of those examples, their effective tax rates are negative.

(https://www.dailykos.com/stories/2019/12/26/1906272/-New-analysis-of-Trump-and-Republican-tax-breaks-shows-tons-of-corporations-paying-nothing-in-taxes?detail=emaildkre)https://www.dailykos.com/stories/2019/12/26/1906272/-New-analysis-of-Trump-and-Republican-tax-breaks-shows-tons-of-corporations-paying-nothing-in-taxes?detail=emaildkre

The Repugs tax cuts of 2001 and 2017 were nothing but the oligarchy paying Repugs to rig the economy in favor of the oligarchy and against the non-oligarchy.

With Repugs cutting nearly $1B from IRS, the IRS doesn't have the resources to go after big, complicated BigCorp and the hyper-wealthy, so it hammers the small companies and individuals with audits and penalties.

[boutons_deux]

Thanks to Trump, Workers Pay Higher Tax Rates Than World’s Largest Corporations

workers at some of the biggest corporations in the world are paying higher tax rates than their employers

Republican-passed tax cuts signed by President Trump in 2017

permanently lowered the corporate tax rate from 35 percent to 21 percent but

many companies are paying nowhere near that figure.

The study identified

379 Fortune 500 companies that turned a profit in 2019 and found that the companies paid an average tax rate of 11.3 percent.

At least 91 of the profitable Fortune 500 companies paid no taxes or had a negative tax rate,

including giants like Amazon, Starbucks, Netflix and General Motors.

Another 56 companies paid an effective tax rate of 2.2 percent.

Just 57 of the companies the study looked at paid effective tax rates of 21 percent or higher.

https://truthout.org/articles/thanks-to-trump-workers-pay-higher-tax-rates-than-worlds-largest-corporations/

Capital continues to win big by attacking and impoverishing Labor

[DMC]

https://www.allsides.com/sites/default/files/AllSidesMediaBiasChart_Version1.1_11.18.19.jpg

Just as a reference, Rawstory owns Alternet

Please continue your psychotic ranting.

[ElNono]

Dunno about The Intercept being left. Strike me more as libertarian.

[ElNono]

Also WSJ definitely right of center, not just opinion.

[boutons_deux]

The Republican tax law is bringing in far less money than claimed—but it's not an accident (https://www.dailykos.com/stories/2020/1/12/1911025/-The-Republican-tax-law-is-bringing-in-far-less-money-than-claimed-but-it-s-not-an-accident)

https://images.dailykos.com/images/525319/story_image/GettyImages-896237194.jpg?1522259078

the efficiency with which big U.S. corporations were able to extract a host of tax breaks (https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html)

from the Trump administration's "regulators" in the wake of the hastily scribbled-together 2017 Republican "tax cuts" is a good example of this.

It has specific corporate names,
specific lobbyist efforts, and
the specific tweaks they won
to undermine whatever pretense the Republican law had of "closing loopholes" or,
more critically, meeting the revenue claims the Paul Ryans of the party blustered it would.

the overall effort has ended in a budgetary disaster.

government coffers are expected to be down a trillion dollars in 2020,

Republicans were racing to use unified Republican government to push forward a longtime dream of the Ayn Rand wing of the party:

murder effective government through orchestrated neglect.
goals taken directly from Grover Norquist and other hard-right conservatives who have for decades expressed

open contempt at government doing anything for anyone that did not involve bombing them;

the explicit technique favored has been, since Reagan,

to slash government revenues to unsustainable new lows,

then use the resulting deficits to argue that steep, vicious cuts are required—for social services.

This is not a hidden agenda,

The budget deficit, meanwhile, has exploded to a staggering $1 trillion.

It will be met, when Republicans next lose the presidency,

with Republican demands that something is done about this outrage that somehow happened under Republican watch,

Conservatives will then demand we spend less on fixing the roads, and

less on feeding the poor, and

that Social Security is either gutted or

at the very least given to Wall Street as seed money for whatever new gambling effort the markets will next invent.

And then they will propose another corporate tax cut. And again,

the Paul Ryans of the party will lie, outright,

to claim that the next one will fix all this up for sure.

https://www.dailykos.com/stories/1911025

=============

How Big Companies Won New Tax Breaks From the Trump Administration

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html

[DMC]

Also WSJ definitely right of center, not just opinion.

If you consider Fox the first block of "right" then WSJ would be left of Fox by a wide margin.

[baseline bum]

LMAO at the Clinton News Network being hard left, or MSNBC with all their Republican hosts plus Claire McCaskill's fatass being hard left.

[spurraider21]

LMAO at the Clinton News Network being hard left, or MSNBC with all their Republican hosts plus Claire McCaskill's fatass being hard left.
they put CNN opinion as hard left and CNN news only as slight left

[baseline bum]

they put CNN opinion as hard left and CNN news only as slight left

CNN's opinion pieces seemed to be Clintonstanning during the primaries last election. Calling that hard left is crazy.

[spurraider21]

also having fox news as far right as WaPo is left is absurd tbh

[spurraider21]

CNN's opinion pieces seemed to be Clintonstanning during the primaries last election. Calling that hard left is crazy.
i get what ur saying, but i dont think they mean farther on the spectrum of left, but rather showing a stronger bias to the left, generally. i know you dont consider clinton left, but in the context of the american spectrum, she's a democrat and clearly left

[baseline bum]

i get what ur saying, but i dont think they mean farther on the spectrum of left, but rather showing a stronger bias to the left, generally. i know you dont consider clinton left, but in the context of the american spectrum, she's a democrat and clearly left

On the American spectrum she is at most center left.

[boutons_deux]

Former AT&T CEO unloads on Trump for ‘stiffing’ rural America in scathing column for Iowa’s 2nd-largest newspaper

Leo Hindery Jr. ... laid out a damning indictment of Trump’s economic policies

“The dirty secret of the economy under Trump is that while major corporations have had reasons to celebrate, rural communities in the heartlands have gotten stiffed,”

“Case in point: Iowa,” he added.

“Research shows that in the state

the bulk of the economy’s benefits are being enjoyed by the richest one percent of Iowans, and

much less so by the state’s small businesses and farmers who are fighting for scraps.”

The Republican tax cuts were merely handouts to the wealthy, Hindery wrote,

“A recent analysis conducted by the Iowa Policy Project found that the wealthiest Iowans have benefitted most from the Trump administration’s Tax Cuts and Jobs Act,” Hindery wrote.

“These findings indicate that

the richest one percent – those Iowans with an average income of more than $1 million per year – captured 24 percent of all tax cut gains.

The poorest 20 percent of Iowans – those making less than $13,700 per year – saw only about one percent of the total.”

The tax cuts have failed to help smaller farm and small business owners

“Even Trump’s $16 billion emergency aid package for farmers

who’ve been hung out to dry by the misguided trade war with China has proven to be just another goody bag for the wealthy,”

most of the $8.4 billion given out as a part of the aid package has gone to wealthy farmers.

The top one percent of recipients received on average roughly $183,000

while the bottom 80 percent of farmers received less than $5,000.”

https://www.rawstory.com/2020/01/former-att-ceo-unloads-on-trump-for-stiffing-rural-america-in-scathing-column-for-iowas-2nd-largest-newspaper/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29

[boutons_deux]

The Republican tax law is bringing in far less money than claimed—but it's not an accident

https://images.dailykos.com/images/525319/story_image/GettyImages-896237194.jpg?1522259078

the efficiency with which big U.S. corporations were able to extract a host of tax breaks from the Trump administration's "regulators" in the wake of the hastily scribbled-together 2017 Republican "tax cuts"

is a good example of this.

It has specific corporate names,
specific lobbyist efforts, and
the specific tweaks they won

to undermine whatever pretense the Republican law had of "closing loopholes" or, more critically,
meeting the revenue claims the Paul Ryans of the party blustered it would.

It is important because, as we all know, the overall effort has ended in a budgetary disaster.

That is not overstating things;

government coffers are expected to be down a trillion dollars in 2020, which is less a fiscal problem than an act of budgetary terrorism.
https://www.dailykos.com/stories/2020/1/12/1911025/-The-Republican-tax-law-is-bringing-in-far-less-money-than-claimed-but-it-s-not-an-accident (https://www.dailykos.com/stories/2020/1/12/1911025/-The-Republican-tax-law-is-bringing-in-far-less-money-than-claimed-but-it-s-not-an-accident)

===============

How Big Companies Won New Tax Breaks From the Trump Administration

As the Treasury Department prepared to enact the 2017 Republican tax overhaul, corporate lobbyists swarmed — and won big.

https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html (https://www.nytimes.com/2019/12/30/business/trump-tax-cuts-beat-gilti.html)

As always, the Big Lie was and eternally will be: Tax Cuts Pay For Themselves.

[boutons_deux]

Treasury brings back the 20-year bond to pay for the ballooning deficit

The U.S. Treasury, facing a trillion dollar deficit, is bringing back the 20-year bond, it last issued in 1986.


The market was surprised by the Treasury’s late day announcement Thursday, and on Friday, yields at the long end, on the 10-year note and 30-year bond, rose as investors bet the new issue will help drive interest rates higher at that part of the yield curve.


Strategist speculated the Treasury may eliminate some 10- and 30-year issuance to make way for the new bond, which Treasury opted for over even longer duration 50-year bonds.

https://www.cnbc.com/2020/01/17/treasury-brings-back-the-20-year-bond-to-pay-for-the-ballooning-deficit.html (https://www.cnbc.com/2020/01/17/treasury-brings-back-the-20-year-bond-to-pay-for-the-ballooning-deficit.html)

[boutons_deux]

Trump at big-donor fundraiser:

'Who the hell cares about the budget?'

https://images.dailykos.com/images/284878/story_image/GettyImages-587340530.jpg?1470679963

In a separate audio clip, Trump is heard

boasting about increasing the defense budget by $2.5 trillion.

To those who criticized his spending and the growing national debt, Trump said,

“Who the hell cares about the budget? We’re going to have a country.”
For most of Barack

Obama’s time in office, Republicans seemed to care very much about the budget,

making fears around the national debt and deficit their top talking point.

They’ve backed off those concerns under Trump.

https://www.dailykos.com/stories/2020/1/18/1912390/-Trump-at-big-donor-fundraiser-Who-the-hell-cares-about-the-budget?detail=emaildkre (https://www.dailykos.com/stories/2020/1/18/1912390/-Trump-at-big-donor-fundraiser-Who-the-hell-cares-about-the-budget?detail=emaildkre)

[boutons_deux]

Trash Tax Cut Hands $32 Billion Windfall to America’s Top Banks

Top banks saved $18 billion in 2019, even more than prior year


Meanwhile lending slowed,

job cuts mounted and

dividends rose

https://www.bloomberg.com/news/articles/2020-01-16/trump-tax-cut-hands-32-billion-windfall-to-america-s-top-banks (https://www.bloomberg.com/news/articles/2020-01-16/trump-tax-cut-hands-32-billion-windfall-to-america-s-top-banks)

[boutons_deux]

Taxes on quintiles 2,3,4,5 will rise -- Stiglitz

[boutons_deux]

TRUMP-GOP TAX CUTS FAILING WORKERS & THE ECONOMY


THE PROMISE: IT WILL BE A MIDDLE-CLASS TAX CUT

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png
Learn More (https://americansfortaxfairness.org/promise-will-middle-class-tax-cut/)

THE PROMISE: WEALTHY PEOPLE LIKE DONALD TRUMP WON’T BENEFIT FROM THE TAX CUT

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png





Learn More (https://americansfortaxfairness.org/promise-wealthy-people-like-donald-trump-wont-benefit-tax-cut/)



THE PROMISE: WORKING FAMILIES WILL GET A $4,000 TO $9,000 RAISE

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-2.png
Learn More (https://americansfortaxfairness.org/promise-working-families-will-get-4000-9000-raise/)

THE PROMISE: SMALL BUSINESSES WILL RECEIVE A BIG TAX CUT

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png
Learn More (https://americansfortaxfairness.org/promise-small-businesses-will-receive-big-tax-cut/)



THE PROMISE: THE ECONOMY WILL GROW BY 4%, 5%, or 6%

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png
Learn More (https://americansfortaxfairness.org/promise-economy-will-grow-4-5-6/)

THE PROMISE: TAX CUTS WILL PAY FOR THEMSELVES

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png
Learn More (https://americansfortaxfairness.org/promise-tax-cuts-will-pay/)



THE PROMISE: THE PACE OF JOB GROWTH WILL QUICKEN

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png
Learn More (https://americansfortaxfairness.org/promise-pace-job-growth-will-quicken/)

THE PROMISE: BUSINESS INVESTMENT WILL BOOM

https://americansfortaxfairness.org/wp-content/uploads/BS-Meter-3.png


https://americansfortaxfairness.org/chartbook-trump-gop-tax-cuts-failing-workers-economy/

[boutons_deux]

AT&T Lied About Everything It Promised to Do If It Got a Tax Cut

AT&T said a net neutrality repeal and tax cut would result

in new jobs and more broadband investment.

It's cut tens of thousands of jobs and

is spending less than ever.

https://www.vice.com/en_us/article/qjdvex/atandt-lied-about-everything-it-promised-to-do-if-it-got-a-tax-cut

[boutons_deux]

Despite $1 trillion deficits, Trump tax cuts will still 'pay for themselves': Mnuchin

U.S. Treasury Secretary Steven Mnuchin insisted on Wednesday that President Donald Trump’s

tax cuts will still pay for themselves over 10 years, :lol

even as the administration forecasts near-term deficits close to $1 trillion.

The Congressional Budget Office predicted in January that

U.S. deficits would average $1.3 trillion a year over the next decade

Trump’s budget forecasts $4.6 trillion in deficit reduction over 10 years and

assumes economic growth at an annual rate of roughly 3% for years to come.

CBO predicts the U.S. economy will grow 2.2% in the current fiscal year ending Sept. 30,

with the growth rate falling below 2.0% in future years.

https://www.reuters.com/article/us-usa-trump-budget-mnuchin/despite-1-trillion-deficits-trump-tax-cuts-will-still-pay-for-themselves-mnuchin-idUSKBN20634K?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F +US+%2F+Top+News%29

Unending stream of lies and bullshit from Trash's kakistocracy.

[boutons_deux]

AT&T to lay off more workers and cut costs by tens of billions—those tax breaks are working! (https://www.dailykos.com/stories/2020/3/4/1924295/-AT-T-to-lay-off-more-workers-and-cut-costs-by-tens-of-billions-those-tax-breaks-are-working)


AT&T has reportedly been able to save $42 billion because of the GOP tax break,

but has also been making big cuts and layoffs since 2018.

It has also beenslowing down spending on infrastructure during that time.
for AT&T is the debt created by its acquisitions of DirectTV and Time Warner Inc. Those acquisitions

haven’t worked out the way AT&T had hoped, and

the company has begun moving into the online-only streaming sector and away from the satellite services that DirectTV offers.

The debt acquired by AT&T, according to Ars Technica (https://arstechnica.com/information-technology/2020/03/struggling-att-plans-tens-of-billions-in-cost-cuts-more-layoffs/), is almost $200 billion,

https://www.dailykos.com/stories/2020/3/4/1924295/-AT-T-to-lay-off-more-workers-and-cut-costs-by-tens-of-billions-those-tax-breaks-are-working?detail=emaildkre (https://www.dailykos.com/stories/2020/3/4/1924295/-AT-T-to-lay-off-more-workers-and-cut-costs-by-tens-of-billions-those-tax-breaks-are-working?detail=emaildkre)

[boutons_deux]

Jared Kushner rakes in $25 to 50 million thanks to tax cuts he and Ivanka Trump championed

After selling his stake in a company that invested in Opportunity Zones that offered the tax breaks he pushed,

President Trump’s son-in-law and top adviser, Jared Kushner,

cashed in to the tune of between $25 million to $50 million

https://www.rawstory.com/2020/03/jared-kushner-rakes-in-25-to-50-million-thanks-to-tax-cuts-he-and-ivanka-trump-championed/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29 (https://www.rawstory.com/2020/03/jared-kushner-rakes-in-25-to-50-million-thanks-to-tax-cuts-he-and-ivanka-trump-championed/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheRawStory+%28The+Raw+Story% 29)

[Mitch]

I don't think anybody reads your posts, botox

[boutons_deux]

Republicans planted a time bomb in their tax cut bill that

will actually raise most people’s taxes

the Tax Cuts and Jobs Act — the controversial tax cut bill passed by Republicans on a party-line vote in 2017 — has

a provision that will start slowly raising taxes next year. And ultimately, Stiglitz warned,

many low and middle income people will actually pay more than they did before the bill passed in the first place.

it built in automatic, stepped tax increases every two years

that begin in 2021 and that by 2027

would affect nearly

everyone but people at the top of the economic hierarchy. :lol

All taxpayer income groups with incomes of $75,000 and under — that’s about 65 percent of taxpayers — will face a higher tax rate in 2027 than in 2019.”


https://www.nytimes.com/2020/10/31/opinion/republicans-biden-taxes.html