Showing posts with label tax reform. Show all posts
Showing posts with label tax reform. Show all posts

Friday, February 02, 2018

Headlines


Gowdy finally had it with Washington

Mueller requests delay in Flynn sentencing

Most wanted: Memo Friday ... FBI panic

Popularity of Trump's tax reform skyrockets

Justice Dept. drops corruption case against Menendez

Bombshell: McCabe wasn't forthcoming with Clinton emails to Congress

Tom Brady hydration could kill an ordinary person ...

Shock poll: 'Blue Wave' evaporates, 2018 generic poll back to dead heat

Poll: Trump approval bounces up to 42 percent

Joe Kennedy tried to pander to the libs by speaking Spanish -- he offended them instead

Users spent less time on Facebook in Q4  -- by 50 million hours a day

Immigrants sent $160 billion from U.S. back to homelands in 2016

Wednesday, January 24, 2018

Win-Win


Hundreds, possibly thousands of companies are paying bonuses (usually $1.000) to their employees as a result of the GOP tax reform package. Clearly, these actions are bringing kudos to these firms both from the Trump administration and the public at large. However, there is another win here ... and that is that this additional expense is a one-time charge for these companies. It seems unlikely that all will give out such largess next year like they would have if they had increased employee salaries.

One real test of the effectiveness of our new tax law will be how employee compensation finally grows over the next few reporting periods ... the biggest potential win. Watch for it ...

Friday, December 22, 2017

Unmasking


No, this posting is not about the deep state's duplicitous revealing of hundreds of Trump campaign staffer's names in NSA intercepts. It's about Congress' hiding their votes for unpopular things like the "carried interest" tax treatment.

There needs to be an unmasking of all those pretenders in Congress regarding their position on this special tax rate for hedge fund managers. Now that the Republican tax reform package has been passed, there is now an opportunity for some brave lawmaker to introduce a law specifically rescinding this 15% carried-interest tax treatment. Nothing else included ... just this one item ... no other provisions to hide behind or confuse things. Wouldn't it be great to see exactly how all in Congress, Democrat and Republican, feel about this specific tax give-away?

I think we might see some surprises as to who votes yea and nay. Only one problem, however ...

It will never happen ... for the obvious reason that no one there wants such a political unmasking.

Headlines


Tax reform flaws build the case for a new consumption tax

George Soros accused of meddling in another foreign election

Rex Reed: 'Shape of Water' loopy, lunkheaded load of drivel ...

Haley: We will be 'taking names' of countries thai oppose Jerusalem move at UN

Franken to resign from Senate in January [2nd]

Ex Planned Parenthood employee describes 'demonic' organization

Kim Jong-un testing new warheads loaded with ANTHRAX ...

... Trump: 'Obamacare has been repealed' [with new tax bill] ...

Trump hints at cuts in foreign aid over U.N. vote on Jerusalem

Report: [FBI's] Andrew McCabe left dossier questions unanswered in Congressional interview

200.000+ [Puerto Rican] residents flee to Florida ...

Chris Christie: Jared Kushner deserves Mueller's scrutiny ...

Friday, November 17, 2017

Crossed Fingers


Treasury Secretary Steve Mnuchin made a surprising revelation on CNBC this morning ... and that is that people earning a million dollars or more a year will see, under the new tax laws, their taxes go UP on average by 3%! If this be true, then not only is this a good populist stance, but it flies in the face of all the Democrat demagoguery ... that this tax reform is a gigantic tax cut for the wealthy.

This Chuck Schumer claim is predicated on the elimination of the Alternative Minimum Tax (AMT) ... an elimination which I hope doesn't happen (see featured post on this blog ... Taxing Times ... which basically is an updated form of an AMT). But, if Mnuchin is being truthful, then I applaud the efforts of Congress on tax reform.

My fingers are crossed.

Tuesday, October 31, 2017

Headlines


All from Internet news sites. Guess which from Politico?

Tony Podesta to step down from lobbying giant  amid Mueller probe

Podesta plays key role in Manafort indictment

Report: FBI reliance on 'Russian dossier' threatens prosecution ...

Economist: Mass immigration into U.S. is 'world's largest anti-poverty program' at expense of Americans

Manafort's clothing tab: $1.3 million

Judge blocks Trump's administration's ban on transgenders in the military

Kimmel: 'Maybe days of fun are over' on late-night [TV] ...

German migrant agency fails to send 'refuges' back even when home countries are safe

Property-tax deduction could help GOP [tax] reform proposal

U.S. is exporting so much oil it is straining country's pipelines

China warns Kim to stop [nuke tests] ...

Harveywood: Kevin Spacey comes out as gay after accusation of advance on 14-year-old actor

Thursday, October 26, 2017

Headlines


All from Internet views sites. Guess which fro the Daily Caller?

Trump purges enemies and reshapes [Republican] party in his image

Mueller investigating Podesta Group for collusion with Manafort, Russia

Clinton, DNC paid for dirt, Russian dossier

Hate crime hoax: Police arrest black man for KKK graffiti at Michigan university

Poll: Most Americans -- including Dems -- want Obama's Iran deal renegotiated

Democrats: Tax reform failure will flip the House [of Representatives]

Obama DOJ funneled big bank settlement money to liberal groups

Census: 44.6% of Californians don't speak English at home ...

President Trump allows refugee restart -- with new security rules

Menendez friend describes [in court] $600K donations from Melgen

Maryland retirement community only sold homes to Muslims

Paul Ryan: 'Dreamers' will be part of spending bill ...

Oregon has more food stamp recipients than public school students

Saturday, October 21, 2017

Headlines


All from Internet news sites, Guess which from Politico?

China 30-year plan to rule world ...

[Gen.] Kelly lends Trump personal and powerful credibility

John McCain denies being Buzzfeed's Trump dossier source

Judge orders Mandalay: Don't destroy evidence ...

'Ten out of ten' Trump and Puerto Rican governor praise hurricane response

Obama in Virginia: 'Our democracy is at stake'

Florida Dem says she's 'a rock star' after White House attacks

PROSECUTOR: Mueller's staffing choices suggests not interested in justice ...

Senate Judiciary seeks info from FBI informant on Uranium One

GOP leaders reach deal to set up tax reform

North Korea is 'different this time' says Singapore prime minister

BushObama slam state of the nation

Bill asked permission from Hillary's State Dept. to meet w/ Russian nuke official

Wednesday, August 02, 2017

Headlines


All from Internet news sites. Guess which ones from Politico.

Democrats snub new party message

Australian scientist caught red-handed manipulating climate data

Sheriff Joe found guilty of criminal contempt ...

Los Angeles gets big bucks to host 2028 Olympics

Obama's inner circle urging Deval Patrick to run

Too many white men at Dunkirk

Palin lawyers blocked from grilling [NYT] reporters in defamation suit

Judicial Watch files three suits seeking communications of acting FBI Director McCabe

Watchdog wants investigation into Wasserman Schultz IT staffer

Republicans see easier road to tax reform than Obamacare repeal

Venezuela arrests two top opposition leaders ...

Accuse MS-13 murderer enter U.S. under Obama's catch-and-release

Thursday, June 29, 2017

Taxing Times


Democrats never seem to see a new tax or a tax hike that they don't like. Take a quick gander at the tax mine field that President Obama laid down for Americans during his reign (mostly tied to Obamacare) ... see: Americans for Tax Reform Listing. Many of these 21 new taxes actually hit the middle class ... violating a pledge that Obama made before he was first elected.

Now, as to be expected, there are also taxes in the Obamacare mishmash that are graduated ... progressive if you will ... meaning that wealthy people will be understandably harder hit. And now comes the expected Democrat demagoguery (note the same first letters) surrounding the Republicans in the Senate's effort to scuttle Obamacare. The Dems are pounding the table saying that this Obamacare repeal will give huge tax breaks to the wealthy. And Warren Buffet, on cue, echoes this refrain ... see: Fortune Magazine Story.

Duh! Do I need to point out the obvious? If Obamacare is eliminated ... along with its repertoire of taxes ... then those taxes meant to soak the rich also go away ... so Upchuck Schumer is technically right ... but still is a big fat demagogue in the process. Are Republican healthcare reformers expected to keep these vestigial taxes as memorials to the disaster that was Obamacare? This would be like the smile that persists after the Cheshire cat has disappeared.

If Warren Buffet wants to pay more taxes, then I am sure that this can be arranged during the next big Republican government overhaul ... the coming tax reform process.

Saturday, April 22, 2017

Headlines


These headlines are real ... they have all been discovered on Internet news sites. Guess which ones came from Politico?

ISIS attacks Paris on eve of election

Lights out San Fran

Sanctuary cities face cuts as DOJ tightens screws

Resistance group says Iran is violating nuclear agreement

Poll: Voters support allowing Syrian refugees

Majority of French armed police support Marine Le Pen

Fox [O'Reilly] staffers express relief, anger, uncertainty

How Trump blew up the conservative media

WH asks agencies to prepare for government shutdown

Clinton knocks Trump on LGBT rights 'Let's remember 2018'

MasterCard tests credit card with embedded fingerprint reader

Trump: White House will release tax reform plan next week

Tuesday, April 18, 2017

Headlines


These headlines are real ... they have all been discovered on Internet news sites. Guess which ones came from Politico?

Here comes Chelsea! Glam press tour to revive troubled Clinton dynasty

Why Trump's next big policy reversal could be on TPP

Wellesley student newspaper threatens students who don't conform to progressive values

College students [at UC Davis] vote to make American flag 'optional' ...

Mnuchin: Tax reform by August 'not realistic' ...

Fewer illegals filing tax returns under Trump

Trump getting hot and bothered by protesters

Theresa May call snap U.K. election for June 8

New DNC Chair. Tom Perez booed on reboot tour

[Georgia] Dem Trump slayer doesn't live in district!

UnitedHealth profit soars as Obamacare business shrinks ...

Trump to Paul Ryan's district during Speaker's Eurotrip

Thursday, April 13, 2017

Report Card


It is coming up on Trump's first hundred days and so we need to look at what has gone well and a few stinkers. Here is one man's opinion:

Supreme Court Appointment.                       A+

Dealing with International Crises.                 B

International Diplomacy                               C+

Immigration Executive Order                        C-

Cabinet Picks                                                  B+    

ICE Enforcement                                          A+

Obabacare Repeal and Replace                     F
                                 
Press Relations                                                D

Regulation Reform                                        Inc.

Budget Priorities                                              A

Tax Reform                                                    Inc.

Mexican Wall                                                  C+

Energy Independence                                      A

Infrastructure                                                 Inc.

White House Unity                                          D

Overall.                                                             B-

Friday, March 31, 2017

Headlines




These headlines are real ... they have all been discovered on Internet news sites. Guess which ones came from Politico?

An estimated 36,000 illegal immigrants have received amnesty under Trump as he reneges on promise

Sessions moves quickly to deport imprisoned immigrants

Record snowfall buries Anchorage ...

Trump tweets attack on New York Times floating a change in libel laws

Berkeley invites Ann Coulter to discuss illegal immigration

Pence breaks tie in Senate vote on Planned Parenthood funding

Trump to sign new Internet rules ...

Web users to buy lawmakers' browsing histories ...

[Senator] McCaskill agonizes over Gorsuch [confirmation vote]

EU boss: We'll break up the USA

Can the White House drive the tax reform train? History says no

NC ends sports embargo by sunsetting trans bathroom law by 2920

Thursday, January 12, 2017

While Our President Slept


The contrast is dramatic. Donald Trump's ability to multitask effectively is quite impressive. His focus and energy are daunting. In comparison, our current much-younger president is lackadaisical by his nature and ideological by his actions ... but I suspect history will judge him even more harshly because of this Trump juxtaposition. Most of the kinetics in the Obummer administration came not from our Teleprompter-in-chief (apparently, his primary function) but instead from his bloated go-get-em staff. He can often sound and look sincere when reading his staff's well-crafted rhetoric. But his indifference to the full spectrum of his presidential duties is often obvious by his body language or lack of action ... and is brought even more into focus by comparison to our new president elect.

Obummer was too often an inattentive president. There is little argument that he would mainly focus on five things: getting back at those whom he saw as oppressors of blacks, open borders, global warming, setting Muslims a place at the table ... and his golf game. Everything else; the economy, entitlement reform, the loss of our middle class, rebuilding our infrastructure, defeating terrorism, strengthening our national defense, reducing government waste, tax reform, regulation reform, etc. seemed to be distractions to him. I don't think he even gave a hoot about health-care reform or free trade These were treated merely as check boxes for his expected legacy. I think if you were to ask him to explain the ups and downs of Obamacare or TPP in detail without his Teleprompter, he would stutter and flounder.

zzzzzzz!

Wednesday, November 23, 2016

Gravy


Yes, I voted for Donald Trump. I salivated at the prospect of the many things he had promised ... a "beautiful wall", extreme vetting of immigrants, tax reform, regulation reforms, the destruction of radical Islam, fixing the VA ... the list goes on and on. Now, once elected, Trump is vacillating on almost all his campaign promises ... even on the global warming hoax for heaven's sake! I guess these bet hedges are to be expected from such a consummate negotiator as Trump. But I am getting a sinking feeling about his sincerity on many of his pronounced goals as president ... see: Politico Story for more instances. Am I in the early stages of some form of buyer's remorse?

To be honest, in some ways, I expected that I would be hoodwinked  by this man ... as often occurs in reality shows ... but not so quickly. But, you know what? Defanging of that harpy Hellary and putting a few Constitutional conservatives on the Supreme Court will be sufficient rewards for giving my nod to Trump.

Anything else will be gravy ...

Afterward: See SNL video ... particularly Pence exchange ...

Tuesday, August 02, 2016

The Voice of the People


Here are just a few recent news items that struck me ... as showing a pattern of the 1% solidly backing Hellary Clinton for president.

- Hedge fund managers give $48.5 million to Clinton's campaign, $19 thousand to Trump's ... see: Wall Street Journal Article.

- Michael Bloomberg speaks at Clinton convention, calls Trump a "dangerous demagogue" ... see: CNN Video.

- Billionaire Mark Cuban endorses Clinton, calls Trump a "jagoff" at Pittsburgh rally ... see: Washington Post Article.

- Warren Buffett at a recent Clinton fundraiser, "A monkey would have generated better returns than you [Trump]" ... see: CNBC Article.

Are we beginning to see a pattern here? The super-wealthy elites in America are clearly hoping that Hellary Clinton wins in November and continues the policies of Obummer ... and they are backing these desires with lots of money and rhetoric that is often as purple as Trump's. Why we wonder?

Perhaps because they have done quite well, thank you, during the crony capitalism, fire-hose government spending, open-borders to cheap labor, and [un]free-trade policies of the current administration and they are worried that Trump will throw sand on the tracks of their gravy train?

These 1%ers have suffered through the Occupy Wall Street protests ... they dodged a bullet when Bernie Sanders came up short in his bid for the Democrat nomination ... they have invested heavily in the Clinton brand of back scratching through generous speaking fees and "charitable donations" to the Clinton Foundation ... and they want and expect a generous return on this investment.

Has Hellary pledged to eliminate the carried interest generous tax treatment for hedge fund managers? No ... but Trump has. Even though Hellary has vowed to increase taxes for the wealthy, we all know that, without a fundamental overhaul of the tax law, the super wealthy using existing loopholes will still, like Warren Buffett, pay a smaller percentage of their income than their secretaries. Has Hellary pledged to reform the tax system? I haven't heard her say so. have you?

Perhaps, with all of this grease, Hellary will prevail and defeat the populist Trump in November ... but she will at her and the Washington elite's peril (and I include many Republicans, like Paul Ryan, in this mix). For the American people are beginning to understand the game that is being played in DC ... and there is a revolt brewing. Those in the 1% would be smarter in the long run if they listened to the voice of the people.

Afterward: Even the Koch brothers are implicated ... see: Breitbart Story.

Saturday, July 09, 2016

Obummer's Legacy


Obummer may not be the worst president in American history, but he still has six more months to sew up the title. He promised us hope and change ... and he certainly changed most things for the worse ... to the point where many of us are willing to take a flyer on a loud-mouth self promoter who just might repair enough things to save our nation's bacon. To reprise Obummer's last 7 1/2 years, here is the legacy he has left us with:

- More than a doubling of our national debt to an unsustainable level

- Race relations at an all-time low

- Corruption tainting almost every cabinet department

- Growing income inequality squeezing the middle class

- Urban crime rates back on the rise

- Economic and wage growth in the toilet

- Negative balance of payment at an all-time high

- Number of people dropping out of the workforce at an all-time high

- Swarms of illegal immigrants from Latin America countries

- An open door policy for unvetted Muslim immigrants

- A doubling of families receiving food stamps

- Zero tax reform

- Zero entitlement reform

- Huge increase in burdensome government regulations

- A gutting of our military

- Disastrous remaking of our health-care system

- The Middle East in smoking ruins

- Much more belligerent Russia, China, North Korea and Iran

- An alienated and abandoned Israel

- Deteriorating national infrastructure

- Serious loss of our international hegemony


And Hellery Clinton has promised to continue us down Obummer's primrose path!
!

Sunday, March 13, 2016

President's Report Card


Yes, here comes another list. Since Obummer is on his way out the door, it seems time to grade his performance as president. I realize that most liberals might disagree, but I am trying to be fair:

Economic Growth                    D

Employment Growth                C

Personal Income Growth          F

Tax Reform                                 F

Entitlement Reform                   F    

Regulation Reform                    F

National Security                      D

Rhetoric                                       A

Immigration Control                  F

Military Readiness                     D

Environmental Gains                  C

Terrorism Pushback                    D

International Relations                F

Race Relations                              F

Education Improvement              D

Infrastructure Rebuild.                 D

Trade Relations                            F

Debt Reduction                            F

Golf Game                                      B

March Madness Brackets             C



Sunday, February 28, 2016

Recap

Every so often, to keep my head from exploding, I like to recount the damage that Obummer has done to America ... to remember his numerous failures both accidental and intentional. But this time the Diplomad has somewhat done this job for me and I am grateful ... see: Diplomad Blog. In this argument against the closing of Gitmo, the Diplomad has ticked off these many other disasters of the Obummer administration ... as quoted below:
His past achievements include, of course, unprecedented debt and unemployment; disastrous Obamacare; relentless promotion of gay marriage; "ending" wars in Iraq and Afghanistan; "democratization" of Libya; recognition of the vile and putrid Castro dictatorship; surrender to Iran's ayatollahs; gutting our military; destruction of what remained of our immigration system and laws; exacerbating racial tensions to a level not seen in decades--and, of course, winning the Nobel Peace Prize. Those, of course, are just some of the more successful ones. He also sought to bring down the second amendment through his murderous "Fast and Furious" operation; install the Muslim Brotherhood in Egypt; and sell-out Israel. 
To these I would add his many crony-capital give-aways particularly in the green industry, his numerous serious scandals throughout his cabinet -- the IRS, the EPA, the Veterans Administration, etc., his acceding to Russian and Chinese expansionism, his feeble response to the ISIS threat, his "surge" in Afghanistan which accomplished nothing except more American deaths, his inability to significantly improve America's infrastructure despite huge spending outlays, his alienation of numerous American allies in the Mid East, Europe and the Far East, I'm out of breath ...

But then listed above are just Obummer's sins of commission. Neglected there are his many sins of omission ... such as:

- his failure to revamp our tax system to encourage faster economic growth

- his failure to simplify and reduce the many burdensome regulations that are stifling American industry ... particularly small companies

- his failure even to prosecute, let alone convict, any financial industry executives for the criminal speculation that caused our 2008 economic collapsed

- his failure to reform our entitlement systems which is rapidly spelling the doom for our country

- etc., etc.

In summary, Obummer's seven years have not produced many hits to offset these numerous misses. I believe he will be listed in history books as one of our five worst presidents.