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  1. #776
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    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/for...e+Raw+Story%29

  2. #777
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    The Republican tax law is bringing in far less money than claimed—but it's not an accident



    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

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

    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

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

  3. #778
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    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, itlast 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 sp
    eculated 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/trea...g-deficit.html



  4. #779
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    Trump at big-donor fundraiser:

    'Who the cares about the budget?'




    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 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- -cares-about-the-budget?detail=emaildkre




  5. #780
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    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



  6. #781
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    Taxes on quintiles 2,3,4,5 will rise -- Stiglitz



  7. #782
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    TRUMP-GOP TAX CUTS FAILING WORKERS & THE ECONOMY


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


    Learn More

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







    Learn More



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


    Learn More

    THE PROMISE: SMALL BUSINESSES WILL RECEIVE A BIG TAX CUT


    Learn More



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


    Learn More

    THE PROMISE: TAX CUTS WILL PAY FOR THEMSELVES


    Learn More



    THE PROMISE: THE PACE OF JOB GROWTH WILL QUICKEN


    Learn More

    THE PROMISE: BUSINESS INVESTMENT WILL BOOM




    https://americansfortaxfairness.org/...rkers-economy/


  8. #783
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    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/q...-got-a-tax-cut

  9. #784
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    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,

    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-u...2F+Top+News%29

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


  10. #785
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    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 been
    slowing 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, 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

  11. #786
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    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_campaig n=Feed%3A+TheRawStory+%28The+Raw+Story%29

  12. #787
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    I don't think anybody reads your posts, botox

  13. #788
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    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.

    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/o...den-taxes.html



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