Although President Trump and Congressional Republicans are hailing their tax bill as a great legislative victory, they failed to achieve many of their objectives and suffered significant defeats. Among them: * They failed to eliminate the estate tax. * They failed to eliminate the alternative minimu[...]
Posts Tagged ‘taxes’
December 24th, 2017 - 8:56 pm § in Donald Trump, Politics
Why the GOP tax bill isn’t the victory they say it is.
A gift to America’s richest people
This is how much America’s 15 richest people might save in estate taxes if the GOP tax bill passes. Enjoy, because you’re paying for it. 1. Bill Gates, $35.6 billion 2. Jeff Bezos, $32.6 billion 3. Warren Buffett, $31.2 billion 4. Mark Zuckerberg, $28.4 billion 5. Larry Ellison, $23.6 [...]
GOP tax bill remakes American life
And for most Americans, not for the better. The GOP tax bill has turned into something far larger and more sinister than a tax cut for corporations and wealthy people, although taxing the middle class to subsidize the GOP’s campaign donors remains one of its foremost objectives. But beyond th[...]
November 28th, 2017 - 9:38 pm § in Politics
Tax bill update
Although several GOP Senate votes are still in play, most of these Senators want to make the tax bill even worse than it already is, so this may not be too steep a hill for McConnell (the GOP Senate majority leader) to climb. Plus, Republicans are desperate to pass something, anything, to make it lo[...]
November 19th, 2017 - 8:12 pm § in Donald Trump, Politics
The Secret of Successful Investing
It’s simple, really. You donate millions to the GOP and get back billions in tax cuts. The payoff can be as high as $3,446 gained for every $1 spent (see, e.g., Koch brothers). The secret is obvious: If you want to do well, buy politicians. But wait, there’s more! Republicans are about[...]
November 3rd, 2017 - 10:42 pm § in Politics
The GOP tax bill in a nutshell
What the GOP’s tax scheming is REALLY about (as if you need to be told). First, some historical background: “The United States is the richest country in the history of the world. Last year, the genius and muscle of the American people generated more than $18.6 trillion in wealth. This ye[...]
September 23rd, 2017 - 1:21 pm § in Schools & Colleges
Why Uncle Sam should pay off everyone’s student debt
Republicans want to cut taxes by $1.5 trillion. If past practice is any guide, most of these tax cuts will go to the rich, who won’t invest it to create new jobs. (And if they did, it’s hard to see how they’ll fill them, because the U.S. economy already is at full employment and ha[...]
July 26th, 2017 - 4:05 pm § in Donald Trump
Will Trump Tax the Rich?
STEVE BANNON PUSHING FOR 44 PERCENT MARGINAL TAX RATE ON THE VERY RICH Steve Bannon is pushing for a new 44 percent top marginal tax rate for taxpayers earning more than $5 million a year! The the revenue would pay for tax cuts for the middle class. This seems utterly at odds with Trump̵[...]
July 10th, 2017 - 11:10 am § in Schools & Colleges, The Ave Scene
The State Budget: Victory of Teachers’ Unions, The Rest of Education NOT SO MUCH
From The Seattle Times: Where does the new state education fund go? TEACHER SALARIES: The budget plan will shift the burden of covering teacher-salary costs to the state to comply with McCleary v. Washington. Lawmakers plan to do this by instituting a state property-tax hike in property-rich school [...]