The Shocking Staggering Cost of Mexico’s
Invasion, Occupation, Looting and Crime Tidal Wave…. Then they go out and vote
Democrat for more!
THE WATERS ROSE AND CIVIL WAR II COMMENCED.
HOUSTON: ONLY THE POOR DROWN IN THIS COUNTRY!
THE HOUSTON FLOOD -
CRONY CAPITALIST LICK THEIR LIPS OVER REBUILDING.... FIRST, LIKE
KATRINA, CUT WAGES AND INVITE HORDES MORE ILLEGALS IN TO WORK CHEAP!
"Like
Katrina, Hurricane Harvey has lifted the lid on the ugly reality of
American society, exposing colossal levels of social
inequality, pervasive poverty and ruling class criminality."
"The reason why these warnings have been
ignored is not hard to fathom. They have been resolutely opposed by
corporate interests, including the real estate industry, Wall Street and
Big Oil. Their ability, operating through bribed politicians of both
parties, to veto and block elementary measures to protect the American
people, exemplifies the complete subordination of all social needs
under capitalism to the selfish drive of a corporate-financial oligarchy
to accumulate ever greater levels of personal wealth and profit."
THEY INVADE OVER AND UNDER OUR BORDERS… and do so by invitation of
the Democrat Party.
Lawmen are worried that
the cartel tunnel builders on the Mexican border are now using their engineered
concoctions to smuggle illegals, not merely drugs.
That's what the Daily
Caller has found, describing the new anxiety as
one was discovered over the weekend, catching about 30 illegals coming in from
Mexico and China. MONICA SHOWALTER – AMERICAN THINKER.com
THE BIG “DEAL MAKER”
TWITTER TRUMP WORKS OUT A NO WALL DEAL WITH NARCOMEX
….. LA RAZA WILL NOT BE
PAYING FOR THE ALL THAT MIGHT IMPEDED THEIR SUCKING OF $100 BILLION PER YEAR
OUT OF AMERICA’S OPEN AND UNDEFENDED BORDERS!
WHILE THE SWAMP KEEPER TWITTER TRUMPER SERVES THE SUPER RICH…. The
wall remains a joke on Legals and HUNDREDS OF STORES across America’s OPEN
BORDERS are being shuttered by the hundreds!
Trump begins campaign
for huge tax cut for business and the wealthy
By Patrick Martin
1 September 2017
At a rally Wednesday
in Springfield, Missouri, President Donald Trump began a public campaign for
slashing taxes on US corporations and the wealthy, an effort to funnel
trillions of dollars into the pockets of the super-rich that would dramatically
increase the already staggering economic inequality in America.
Trump’s remarks
combined economic nationalism, glorification of the profit system and obvious
lies, as he claimed that corporations gifted with massive tax cuts would
immediately use these funds to invest in new equipment, hire more workers, and
give generous raises to the workers they already employ.
The speech gave a
completely potted account of economic realities in the United States,
portraying giant American corporations as groaning under an onerous tax regime
that takes so much of their profits that they cannot invest in production.
Actually, corporate
profits are at record levels, but the funds are used mainly for speculative
purposes like stock buybacks. And according to the Organization for Economic
Cooperation and Development, the overall tax burden in the United States, at 26
percent of total economic output in 2014, is the fourth-lowest among the major
industrialized countries.
The speech was
reportedly written by Stephen Miller, the policy adviser who represents the
fascistic wing of the White House staff, previously headed by Stephen Bannon.
He supplied the nationalist demagogy and the empty claim that a windfall for
American corporations would be good for American workers.
The policy substance
is supplied by Treasury Secretary Steven Mnuchin and top White House economic
adviser Gary Cohn, both veterans of Goldman Sachs and both possessing fortunes
of a half billion or more. Mnuchin accompanied Trump to Springfield, along with
Commerce Secretary Wilbur Ross, a longtime asset stripper with a fortune in the
billions.
Trump outlined four
principles underlying the tax plan, two in support of the populist demagogy,
and two to deliver the bonanza for corporate America.
First was “tax
simplification,” the standard promise by right-wing demagogues to reduce the
complexity of the federal tax code so that ordinary people can understand it
and fill out their tax returns on a postcard or single sheet of paper. There is
not the slightest prospect of this ever happening, since complexity is one of
the devices for shifting the tax burden from corporations and the wealthy, who
can hire tax lawyers and accountants, to working people.
Trump also pledged
“tax relief for middle-class families,” although he gave not a single detail in
the speech. An initial draft released in the spring suggested doubling the
standard deduction, which would provide modest benefits for families of middle
income, but nothing to the 47 percent of workers who do not earn enough to pay income
tax.
Estimates of the
potential benefits—difficult to calculate because of the vagueness of the White
House plan—suggest that middle-income families would gain $30 to $140 a year,
while families in the top 1 percent would gain an average of $1.4 million.
In contrast to the
vague and empty promises to working people, the benefits for corporate America
from Trump’s remaining two principles are enormous and specific. Under the
rubric of establishing a “competitive tax code,” Trump would slash the tax rate
on corporations from 35 percent to 15 percent, below that in most other
countries.
Finally, in an effort
to “bring back trillions of dollars in wealth that’s parked overseas,” Trump
would effectively legalize tax evasion by giant corporations like Google,
Microsoft, Apple and General Electric. These and other corporate behemoths have
nearly $3 trillion in accumulated earnings attributed, for bookkeeping
purposes, to their overseas operations, in order to avoid US corporate income
tax.
Trump would give a one-time
tax holiday allowing these earnings to flow back into the US with only nominal
taxation, claiming that the funds would be reinvested in American facilities
and jobs. The last time this particular corporate swindle was performed, in
2001 under George W. Bush, the companies involved paid only 5.25 percent on
their repatriated earnings, the $300 billion in “offshore” funds were used to
buy back stock, pay out dividends to shareholders and boost the compensation of
CEOs, and virtually no jobs were created. Now the sums involved are 10 times
greater.
In packaging such a
plan as a boon for working people, Trump and his speechwriter, Stephen Miller,
must think that American workers are deaf, dumb and blind, as well as suffering
from amnesia. Vague rhetoric about more jobs and higher pay cannot disguise an
even bigger handout to the wealthy than the 2001 tax cuts pushed through by
Bush with the support of leading congressional Democrats.
Wall Street and
corporate America generally are hoping for a repeat of the 2001 deal between
Bush and the Democrats, once the initial public posturing about “fairness” and
prioritizing tax cuts for the “middle class” is dispensed with.
Senate Democratic
leader Charles Schumer—who has collected more campaign contributions from Wall
Street than any non-presidential candidate in history—served up the usual
populist demagogy in response to Trump’s speech, speaking on a conference call
organized by pro-Democratic groups that are lobbying against the Trump tax
plan.
“If the president wants
to use populism to sell his tax plan, he ought to consider actually putting his
money where his mouth is and putting forward a plan that puts the middle class,
not the top 1 percent, first,” declared Schumer. He said the Democrats were
willing to deal on taxes, but rejected any plan that cut taxes for the top 1
percent of income earners, raised taxes on the middle class, or increased the
federal budget deficit.
Notable in this list
is the absence of any reference to reductions in the corporate tax rate, the
centerpiece of the Trump administration tax plan, or to the repatriation of
offshore earnings. There is widespread agreement among congressional Democrats
with both proposals, since the Democrats, like the Republicans, take as their
point of departure the interests of the American capitalist class.
Schumer’s opposition
to reducing taxes for the top 1 percent hardly constitutes a serious obstacle,
as press reports indicate that the White House may have already dropped plans
to lower the top income tax rate from 39.6 percent to 35 percent.
More significant is
the Democratic leader’s insistence on not increasing the federal budget
deficit. That means that the expected corporate tax cuts would have to be “paid
for” by cutting expenditures, almost certainly in domestic social spending or
“entitlement” programs like Social Security, Medicare and Medicaid.