Trump is really starting to annoy me with his constant flip-flops followed by sound policy decisions, intermingled with comments from the Rasputin couple; namely, Jared Kushner and Ivanka Trump. It feels like riding one of those monster roller coasters that leave your stomach in the air while you hurtle down. When Trump is in is populist mode, I like him; when he is in his neo-con warmonger, globalist stooge, bankster, Wall Street whore mode, I dislike him intensely. At any rate, the various links below will highlight Trump’s two steps forward, and one step backward modus operandi.
First, we have Ivanka Trump apparently deciding she is in charge of the refugee program and it is good to allow a tidal wave of Syrian refugees to enter the USA. I must have missed the memo allowing her to make refugee policy. I also missed the memo on Jared Kushner going to Iraq and acting like the Secretary of State. The link is below.
http://www.breitbart.com/video/2017/…ugh-by-itself/
Ivanka Trump: Opening Border to Syrian Refugees ‘Has To Be Part of the Discussion,’ Won’t Be Enough By Itself
During a portion of an interview broadcast on Wednesday’s edition of NBC’s “Today,” Ivanka Trump said that opening the border to Syrian refugees “has to be part of the discussion, but that’s not going to be enough in and of itself.”
Ivanka said, “I think there is a global humanitarian crisis that’s happening, and we have to come together, and we have to solve it, and –.”
She was then asked, “Does that include opening the borders to Syrian refugees in –?”
Ivanka responded, “That has to be part of the discussion, but that’s not going to be enough in and of itself.”
Next, we have the ongoing budget/shut down the government farce. Trump is again listening to Lying Ryan with the predictable negative results. Trump is apparently okay with no border wall funding, funding of both Obamacare and Planned Parenthood. The link is here.
Flipper-In-Chief: Trump Caves On Obamacare Subsidies To Avoid Government Shutdown
http://www.zerohedge.com/news/2017-0…riday-shutdown
Flipper-In-Chief: Trump Caves On Obamacare Subsidies To Avoid Government Shutdown
Finally, some good news from Trump. His newly released tax plan is, in my opinion, brilliant. It fulfills his campaign promise to provide tax relief to the working poor and the middle class. First, a few facts related to who pays Federal Income Tax. The basic income groupings in the USA today are $18,000, 36,000, 72,000, 115,000 and finally, 250,000 dollars. The vast majority of American taxpayers are from these five groups. I believe, as in read it somewhere a while ago, one half of all taxpayers earn less than $36,000 per year. It may even be one half earn less than $18,000. At any rate, some 90 percent of all American taxpayers earn less than $115,000, and it may even be $72,000 per year. The only thing George Bush junior did of any value was to increase the standard deduction and personal exemption to $10,000 way back in 2001 or so. By doing this, he removed a chunk of low income workers, ie the working poor, from the tax rolls. Trump has taken this idea of tax equity and run with it.
As I understand it, and the details are still being hashed out, Trump is going to raise the amount of income that triggers any tax to $24,000 per person. This will allow Trump to remove millions of low income working poor and lower middle class wage earners from paying any federal income tax at all. Further, it will be a significant reduction for married couples with two children. If you do the math, it means every single worker who earns $18,000 or less will owe not one dime in federal taxes. Further, by eliminating all deductions, other than the home and charitable ones, he will vastly simplify filing income taxes. Granted, the high tax states, all blue states by the way, will lose their ability to deduct state taxes from income. I have no problem with that at all.
The result of all this will be people making $18,000 will pay no taxes. People that make $36,000 per year, which is nearly one half of all taxpayers if my figures are correct, will only pay a fifteen percent tax rate on one third of their total income. They will pay taxes on $12,000 dollars out of $36,000. The $72,000 per year will also likely pay either a fifteen percent to twenty five percent rate on only two thirds, $48,000, of their income. I assume everybody over $115,000, or maybe $250,000 will pay the reduced tax rate of 35 percent. Again this is a massive tax reduction of both individuals and families. The typical four person family, Dad, Mom and the two kids will shield the first $96,000 of their income from ANY FEDERAL INCOME TAX. People making under $24,000 will pay NO FEDERAL INCOME TAX AT ALL. People making between $24,000 and $240,000 will also pay less income tax because they will pay a lower rate, on less taxable income. Like I said, this is BRILLIANT. Trump scores damn near a home run on this. The Democrats, well the Democrats are going to choke on their usual “cut the taxes on the rich mantra.” The reason is most of the tax benefits will go to workers earning less than $24,000 per year, which is exactly where the populist Trump needs it to be. The corporate tax rate will be cut from 35 percent to 15 percent. I also have no problem with that because it will bring back literally TRILLIONS of dollars worth of corporate profits stashed in overseas banks. After all, the reason the money is there is because they refuse to pay the current 35 percent tax rate. Again, the corporations may decide to leave the money overseas, but Trump is correct that it is reasonable to assume they will “repatriate” it.
The links are here.
#BREAKING: Trump proposes sweeping tax reform with major cuts to individuals and businesses http://hill.cm/4IM5ZAC
http://www.fox10phoenix.com/news/250872445-story
WASHINGTON – (AP) — President Donald Trump is proposing “the biggest tax cut” ever, even as the government struggles with mounting debt, in an effort to fulfill his promises to stimulate job creation and middle class prosperity.
White House officials on Wednesday were to release broad outlines of a tax overhaul that would provide massive tax cuts to businesses big and small. The top tax rate for individuals would drop by a few percentage points, from 39.6 percent to the “mid-30s,” according to an official with knowledge of the plan.
Small businesses would see their top tax rate go from 39.6 percent to the proposed corporate tax rate of 15 percent, said Treasury Secretary Steven Mnuchin in a Wednesday morning speech.
Mnuchin said the proposed overhaul would amount to “the biggest tax cut” and the “largest tax reform” in U.S. history. He said the lower tax rate for small business owners — a category that under current legal definitions could include doctors, lawyers and even companies such the Trump Organization — would not be used as a loophole for the rich to reduce their tax burden.
But the Treasury secretary declined to say there would be no absolute tax cut for the wealthy, a promise he made last year during a TV interview. “Our objective is simplifying personal taxes,” he said.
The plan will not include provisions to increase spending on infrastructure projects, one possible sweetener that could help gain congressional support.
The proposal faces a massive hurdle in that lower rates would blow a hole in the budget, possibly causing the national debt to soar by more than a trillion dollars over a decade.
Without additional revenue sources to offset the tax cuts, the broad proposal would need Democratic support to clear the required 60 votes in the Senate. Congressional Republicans could pass changes on their own with a simple Senate majority, but that would only be temporary under Senate rules.
Mnuchin said he would like the tax overhaul to be permanent, but “if we have them for 10 years, that’s better than nothing.”
Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
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