Closing Thought–06Dec17

The tax bills are in conference to hammer out the details for one big f*cking of the Middle Class……I have read what parts are not scribbled in some lobbyist lingo and found the one part that is most disturbing to me.

In my younger days I was a labor organizer for the IWW, yes I was a Wobbly and if you do not know that term then you are too young …….and as an organizer I fought hard for workers to to re-trained when their jobs were either outsourced or replaced by machines…..the new tax bill will screw the worker hard and with a smile…..

The section I am referring to…….

Encouraging corporations to automate ― without any help for displaced workers.

A provision of the tax bill would allow companies to deduct from their taxable income the entire cost of certain kinds of business investments that were previously only eligible for a 50 percent deduction. Traditionally, manufacturing firms and other infrastructure-heavy companies took advantage of the deduction to buy new factory equipment.

But the increase in the deduction comes at a time when corporations are investing in automation of their production facilities through the use of robots and artificial intelligence technology, noted Robert Kovacev, a corporate tax attorney for the Steptoe & Johnson law firm in Washington, D.C.

“It’s going to accelerate spending, basically, on robots that could displace workers,” Kovacev told HuffPost.

Kovacev is supportive of the deduction, because automation is likely to increase productivity ― defined as the amount of economic output generated per work-hour. And many experts maintain that, over the long run, this type of technological disruption is a net job creator.

That is likely to serve as cold comfort, however, for the mostly blue-collar workers displaced by automation in the short term. And Congress chose to speed up the automation process without any companion measures to offset the fallout for affected workers.

“It would be a good idea to pair this with a tax incentive to encourage companies either to employ more human workers or retrain them for jobs in the new economy,” Kovacev said.

Some progressive lawmakers have other ideas about how to address the harm caused by automation. For example, San Francisco County Supervisor Jane Kim has explored the idea of implementing a ”robot tax” on companies for every robot they employ to perform a job previously done by humans. The revenue raised by the tax would fund the retraining of displaced workers.

I approve of the “robot tax” and the money used to re-train workers for other aspects of the job.

Every trade union should be on this section of the bill like a pit bull with a lobbyist leg in its mouth.

The workers are screwed every time these cowards try to help their corporate masters….time for them to pay up to help the worker…..PERIOD!

Don’t mourn….organize!

“An injury to one is an injury to all”

Bring back the radicalization that was the IWW!

 

TTFN……tomorrow is another day……chuq

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Don’t Panic Just Yet

The word has been that the Senate has doomed the middle class to lower wages and high taxes in the future….I even fell into the hype around the Senate vote….but foresight has finally come to me….the House has their bill and now the Senate has theirs….and now the two must come together for a final bill 6to be sent to the president for his signature.

How do the two bills compare?

The Senate passed a nearly $1.5 trillion tax overhaul early Saturday after some late changes were made to the bill. The House passed a nearly $1.5 trillion tax bill two weeks ago that differs in key respects, and the two chambers will have to craft a compromise to send to President Trump, the AP reports. A comparison of the two Republican-written measures:

  • Personal income tax rates: The Senate bill retains the current number of brackets, seven, but changes them to 10, 12, 22, 24, 32, 35, and 38.5%. Under current law, the top bracket for wealthiest earners is 39.6%. The House measure condenses seven brackets to four: 12, 25, 35, and 39.6%. Under the Senate bill, the reductions in personal income tax rates are temporary, ending in 2026. They’re permanent in the House bill.
  • Individual insurance mandate. The Senate bill repeals the ObamaCare requirement that people pay a tax penalty if they don’t purchase health insurance. The House bill does not.
  • Personal exemption. Both bills eliminate the current $4,050 personal exemption.
  • Inheritance tax. Currently, when someone dies the estate owes taxes on the value of assets transferred to heirs above $5.5 million for individuals, $11 million for couples. The Senate bill doubles those limits but does not repeal the tax. The House initially doubles the limits and then repeals the entire tax after 2023.
  • Tax credits.:The Senate doubles per-child tax credit to $2,000. The House raises per-child tax credit from $1,000 to $1,600 and extends it to families earning up to $230,000. The House bill also creates a $300 tax credit for each adult in a family, which expires in 2023. Both bills preserve the adoption tax credit.
  • Standard deduction. Used by about 70% of US taxpayers, currently $6,350 for individuals and $12,700 for married couples. The Senate and House bills both double those levels to $12,000 for individuals and $24,000 for couples.
  • Corporate taxes: The Senate and House bills both cut the current 35% rate to 20%, but the Senate has a one-year delay in dropping the rate.
  • Alternative minimum tax. The AMT is aimed at ensuring that higher-earning people pay at least some tax. The Senate bill doesn’t repeal it but reduces the number of people who have to pay it. The House measure repeals the tax.

Pass-through businesses: Millions of US businesses “pass through” their income to individuals, who then pay personal income tax on those earnings, not corporate tax. The Senate bill lets people deduct 23% of the earnings and then pay at their personal income tax rate on the remainder. The House measure taxes many of the pass-through businesses at 25%, plus creates a 9% rate for the first $75,000 in earnings for some smaller pass-throughs.

So I would like to tell my readers that many bills have made it this far and failed…..we can only hope that this is one of those bills.

Sadly I am one of those people that does not look for this bill to fail….

Merry Christmas Suckers!

GOP is smiling with joy for they made their rich clients happy this holiday season….

For a couple weeks now the GOP has been running around to try and get the votes that need to shove a tax plan up the butts of most Americans……even Fearless Fosdick has been telling  his adoring mobs what a good deal this bill will be for most of us (will explain that pile of manure a little later in this post)…..even the so-called “mavericks of Flake, Collins, Graham and McCain have decided that party politics is more important than the people they serve…..who am I kidding?  They serve their rich masters.

“We have the votes.” So declared Mitch McConnell Friday on the GOP’s bid to push a $1.4 trillion tax bill through the Senate. The final vote in the chamber is expected to come later Friday. The Senate majority leader’s comment came soon after the No. 2 Senate GOP leader, John Cornyn of Texas, said the same, per the AP. With the party controlling the Senate 52-48 and Democrats uniformly opposed, Republicans need 50 votes to win approval; VP Pence would break a tie. The measure’s momentum was boosted Friday when Sen. Ron Johnson said he’d vote for it after leaders agreed to his demand to make tax breaks more generous for millions of businesses. Sen. Steve Daines also backed the legislation after winning an increase in the business income deduction from 17.4% to 20%.

The bill seemed to be sailing toward passage Thursday, until a report out of the nonpartisan Joint Committee on Taxation estimated the package would produce budget deficits totaling $1 trillion over the next 10 years. Advocates say the measure’s tax cuts will spark enough economic growth to pay for the lowered levies. The projection left the votes of several GOP senators in doubt, including Tennessee’s Bob Corker and Arizona’s Jeff Flake; Maine’s Susan Collins is also up in the air. Cornyn said leaders are still working on any holdouts. Senate passage would push Congress a step closer to the first rewrite of the nation’s tax code in 31 years. Unlike the House tax bill recently passed, the Senate measure would end the Obama requirement that people pay a tax penalty if they don’t buy health insurance.

Of course the boot lickers of Fearless Fosdick will be in awe of this bill and all it does for us mere mortals but most of it is fracking lies!

As Senate Republicans proclaimed on Friday that they have the votes to pass a $1.5 trillion tax bill whose contents have been kept secret from virtually everyone except corporate lobbyists, progressive lawmakers and activists are once more warning that the GOP is planning to use the massive deficit hole its plan would create to justify taking a sledgehammer to Medicare, Medicaid, and Social Security—a ploy one group has termed the “tax two-step.”

Indivisible released a video explaining the tactic, which has been utilized by Republicans for decades—but which might now be deployed on a scale never seen.

https://www.commondreams.org/news/2017/12/01/gop-tax-scam-two-step-explode-deficit-cuts-rich-then-screw-poor

Forget campaign promises and White House propaganda about prosperity via tax cuts. The GOP is poised to show every American who isn’t wealthy that it couldn’t care less about their daily economic struggles.

That message comes in the $1.5 trillion tax bill that is on the verge of Senate passage, following a slightly different version the House passed a few weeks ago. Fiscally, the legislation gives temporary minimal tax cuts to the middle-class—on the order of 1 percent or so—while giving increasingly larger and permanent cuts to corporations and wealthy Americans, whose financial portfolios are not commonplace.

https://www.alternet.org/economy/gop-tax-plan-giant-middle-finger-hundreds-millions-americans

Oh there is so much more……

Republicans plan to pass a bill this week to allow churches to engage in political activity. And they plan to pass a bill that limits state spending on education. And a bill that caps state health care. And a bill that cripples public transportation. And a bill that will end the individual mandate on healthcare and drive up insurance prices. And a bill that would halt abortions.

And, incidentally, they plan to pass a bill that gifts trillions to millionaires and corporations while driving up both costs and taxes for the working and middle class. Because all of this, and more, is rolled into the Republican “tax bill.”

https://www.alternet.org/news-amp-politics/monstrous-details-republican-tax-plan-trump-doesnt-want-you-know-about

And there is the endless use of the term “trigger” when this bill is talked about….would you like to know what that is all about?  Good.  ‘Cause here it is……

As Senate Republicans barrel toward a tax vote, lawmakers worried about the national debt are in search of some kind of last-minute fix — except no one knows what that fix will be.

The idea is still in a conceptual stage: If the rosy deficit forecasts from this tax bill prove to be inaccurate, and the economy does not grow as fast as Republican leaders are saying it will, then they want a trigger mechanism in place to in some way address that.

Matt Yglesias explained how that would work in theory, but “in practice, the economic impact of some kind of backstop provision is going to hinge on the implementation details.” Those details are far from final.

https://www.vox.com/policy-and-politics/2017/11/30/16716860/senate-tax-bill-deficit-trigger

Now they will hammer out the final bill between the two houses….God only knows how much more screwing will come out of that session.

But this should tell you all you need to know about your new “tax cut” bill……

Republicans have already made few bones about the fact that this bill was basically a payoff to their wealthy donors, but Iowa Sen. Chuck Grassley took things to another level when he openly displayed the contempt for ordinary Americans that is the beating heart of his party’s politics.

In an interview with the Des Moines Register, Grassley said that people who “invest” are more deserving of tax cuts because they don’t waste their money on frivolities:

“I think not having the estate tax recognizes the people that are investing,” Grassley said, “as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”

Congrats!  If this is signed into law, and it will, then the Congress has just fucked the entire nation that has to work for a living….this will go down as one of the biggest rip-offs in American history.

And YOU VOTED for it…..now live with it!

Those Creeping Tax Cuts

It is that time again…the lies about taxes.

It is NOT TAX REFORM!

The pretend that it is some sort of tax reform when it is nothing more than a tax cut…..and as usual for the wealthy…..cut it any way you choose…..it benefits no one but the rich.

Not even all the Repubs are down with this insanity…..

The vague tax reform promises that Donald Trump put forward during his presidential campaign have finally been turned into concrete measures. Republican senators and their House counterparts recently released their respective proposals to simplify the cumbersome American tax system. Once both bills are passed, a conference committee will be assembled to work out a final piece of legislation.

This procedure, which might seem a mere formality due to the majority that Republicans hold in both chambers, will face some challenges along the way. First, it doesn’t seem likely that a final bill will be ready by the end of the year as promised by President Trump. After all, the House and Senate proposals differ substantially and reaching an agreement will be a complex and lengthy task. In addition, the so-called Byrd Rule prevents senators from passing legislation that increases the budget deficit by more than $1.5 trillion over a 10-year period, and the estimates undertaken so far seem to exceed this number.

http://www.theamericanconservative.com/articles/republican-tax-reform-feast-today-famine-tomorrow/

Okay but what would a “good” cut package look like?

No matter our politics, most Americans have a beef with taxes. And it’s no wonder.

Working class Americans pay a much greater share of their income than the wealthiest Americans, who get away with exploiting tax loopholes and paying less than their fair share to support public projects and government programs.

Our system is rigged to favor the richest, so tax reform is key to un-rigging the economy. But the latest GOP tax plan is a slimy wet kiss for the wealthiest Americans.

http://www.truth-out.org/opinion/item/42580-what-real-tax-reform-could-look-like

I have written many times my ideas for tax reform and my ideas are truly tax reform…..(you want to know them then type in”taxation” in the search and hit enter)….

One last thing….I heard a tax accountant say that if this passes then the average working stiff would take home about 20 cents a day….in case your math sucks….that is about a dollar a week or 4 dollars a month or $48 a year…..

The House tax bill is an all-out attack on the future prosperity of America, not that any of the major news organizations are telling you that in plain English. Lost in the dense bureaucratic language of modern news reports is the simple fact that the House bill takes from striving students so that the already rich and major corporations can have more.

This bill is a long-term disaster in terms of what economists call opportunity costs. That term refers to a benefit that a person could have received, but gave up, to take another course of action. This tax bill gives up the future wealth from investing in brainpower in favor of permanent tax cuts for the already rich and corporations.

Read more and more…….

Why this House tax scheme is for idiots

Any American, a working stiff, that falls for these lies deserves the screwing that is coming….

There is a historic perspective (you knew it was coming) to all this………

Average Americans today face political elites hellbent on a tax ‘reform’ that funnels new fortunes to the already fortunate. Back in 1932, average Americans faced the same scenario—and dealt the political elites a history-shifting defeat.

The Earth doesn’t quite shake when lawmakers in Washington, D.C. take one of their periodic votes on tax “reform.” But sometimes history does turn, and this coming week’s expected vote on the Senate version of the GOP tax plan could be one of those rare times that history actually turns for the better.

https://www.commondreams.org/views/2017/11/25/how-stop-tax-plan-rigged-rich

WE can beat this bullsh*t but it will take work….so let’s get busy.

GOP Tax Plan–Update

Taxes are all the buzz in DC these days…..even had a senator, Orin Hatch, go off about how tax cuts for the rich is an old dodge and he was tired of hearing it…..so to make him even more cranky than he is now I thought I would post a few more stats that he does not like to hear…..

President Donald Trump on Monday promised a tax overhaul by Christmas, even as a nonpartisan tax analysis group said the Senate package would leave half of taxpayers facing higher levies by 2027.

Speaking before a Cabinet meeting, Trump said, “We’re going to give the American people a huge tax cut for Christmas — hopefully that will be a great, big, beautiful Christmas present.”

Trump spoke as the Tax Policy Center said that while all income groups would see tax reductions, on average, under the Senate bill in 2019, 9 percent of taxpayers would pay higher taxes that year than under current law. By 2027, that proportion would grow to 50 percent, largely because the legislation’s personal tax cuts expire in 2026, which Republicans did to curb budget deficits the bill would create.

https://www.cnbc.com/2017/11/20/senate-gop-tax-plan-to-ultimately-raise-taxes-for-half-of-us-tax-policy-center.html

Never fear all you ignorant Trump supporters….you are about to be humped so bad it will hurt for years to come…..

Then there is the liars in the House….especially Paul Ryan….he is almost a master at making it sound sound good that the poor do not mind being f*cked hard……

Once, at a town hall in Wisconsin, someone asked known anti-poverty crusader Paul Ryan (R-WI) the following question:

“I know that you’re Catholic, as am I, and it seems to me that most of the Republicans in the Congress are not willing to stand with the poor and working class as evidenced in the recent debates about health care and the anticipated tax reform. So I’d like to ask you how you see yourself upholding the church’s social teaching that has the idea that God is always on the side of the poor and dispossessed, as should we be.”

It’s a tricky one, but if you want to simultaneously cut taxes for rich people and benefits for poor people, you need to be ready for it. So, just in time for the tax debate, I’ve written a handy step-by-step guide on how to convince your constituents that a help-the-rich, whack-the-poor agenda is really what’s best for everybody:

(his 7 ways of pumping the poor)

https://talkpoverty.org/2017/11/20/paul-ryan-guide-pretending-care-poor/

Does any of that sound familiar?  It should!  You hear them almost daily every time there is an open mike for them to dash off to…..

And you people voted these douches into office….shame…shame….shame…..

GOP Tax Plan–2017

I listen to the lying toad Paul Ryan give his speech about the newest tax plan to get hammered through the House….his words made it seem like us poor working stiffs would be sitting pretty and that jobs would be thrown at us ad nauseum…..the problem is it is all typical GOP LIES……he had to make sure to state that there had not been a tax reform since 1986…..a typical talking point. (Yawn)

This vote in the House is the big win that Trump has been praying for…..plus it helps those like himself….filthy rich….

In a victory for President Trump, the House successfully passed its version of the Republican tax-cut plan Thursday, the Los Angeles Times reports. All Democrats and 13 Republicans voted against the bill, giving it a 227-205 win. “Passing this bill is the single biggest thing we can do to grow the economy, restore opportunity, and help these middle income families that are struggling,” House Speaker Paul Ryan says. The vote took place after Trump met with House Republicans, telling them, “I love you. Go vote.” The Washington Post explains the contents of the bill, which includes more than $1.4 trillion in tax cuts, reduces the corporate tax rate from 35% to 20%, reduces taxes for the rich, and ultimately raises taxes on middle-income earners. The bill also reduces the number of tax brackets from seven to four and gets rid of popular tax deductions, the New York Times reports.

The vote was held two weeks after the bill was introduced with little analysis or debate. Now Senate Republicans have to pass their own tax bill and work out the differences with the House bill. That will be easier said than done. Support for the Senate bill is wavering, especially after a nonpartisan committee found that it would end up increasing taxes for low-income Americans in 2021 and for everyone earning less than $75,000 a year in 2027. Not to mention it repeals part of ObamaCare. If the Senate manages to pass its bill and rectify it with the House version, it would give Trump the first major legislative achievement of his presidency. The White House has been pressuring Republicans to get tax cuts passed by Christmas.

The Congressional Republican tax plan is not a good deal for middle-class and working Americans. It fails to cover the full cost of the tax cuts for the wealthy and corporations, adding to the deficit and putting middle-class priorities such as Medicare, Medicaid, education, and infrastructure at risk. Many states would see tens of thousands of families with tax increases, while nearly three-quarters of U.S. states would see hundreds of thousands—and in a few cases well more than 1 million—families with tax increases under the plan. Here’s what you need to know:

Many Working and Middle-Class Americans Would See a Tax Increase Under the House GOP Tax Plan: A State-by-State Breakdown

The Senate Tax Bill Threatens Access to Health Care

Work Requirement Proposals Would Kick Struggling Workers When They’re Down

Repealing the Estate Tax Would Plunge Charitable Giving

Giving to the Rich

4 Ways Repealing the Estate Tax Would Expand the Racial Wealth Gap

Not in a Million Years: The House’s Proposed Windfall for Donors

House Republican Attempts to Repeal the Adoption Tax Credit Show Their Real Priorities in Tax Reform

As usual…the GOP builds lies to cover their help for the wealthy….and we simpletons buy their crap every time….and when it does not pan out for us we re-elect the same lying bastards to screw us all over again……no wonder we are about to elect a pedophile and do it with joy.

What a silly bunch we as a nation have become.

More On GOP Tax Bills

The GOP health care plans has been a bust…..and the GOP needs something that that they can point to and say that they have a win this session of the Congress……taxes is the basket they are putting all their apples in…..

So far no matter how they try to sale their plan it still equates to rich get breaks and poor get the shaft….

Yet another analysis shows how bad the middle class will be screwed…..again……

Critics of the Republican tax plan say it offers a crystal-clear view of which Americans matter to the Trump administration and the Party in control of Congress—and which don’t. Despite an aggressive push to portray the proposal as a tax cut for middle-class Americans, according to a New York Times analysis, millions of middle-income families would pay more in taxes immediately—and many more would see their tax bills rise over time.

“The GOP tax plan is a simple political statement about who matters more in American democracy: the heirs to hedge fund fortunes or everyone else in the country,” wrote Zach Carter in the Huffington Post on Monday. “Trump and the Republicans have chosen the dynasts.”

https://www.commondreams.org/news/2017/11/07/yet-another-analysis-shows-how-trump-gop-tax-scam-will-bury-middle-class

But now the House and the Senate each have dueling plans……

Senate Republicans revealed the details of their sweeping tax legislation Thursday, including a one-year delay in plans for a major corporate tax cut despite strident opposition from the White House and others in their own party. Their bill would leave the prized mortgage interest deduction untouched for homeowners in a concession to the powerful real estate lobby but would ignore a House compromise on the hot-button issue of state and local tax deductions. On the other side of the Capitol, the House Ways and Means Committee approved its own version of the legislation on a party-line 24-16 vote. Changing the tax code is President Trump’s top priority and a goal many Republicans believe has grown even more urgent in the wake of election losses on Tuesday that displayed an energized Democratic electorate, the AP reports.

Yet as the Senate Finance Committee unveiled its bill, a few stark differences emerged with the version approved by the House tax-writing committee, underscoring the challenges ahead in getting both chambers to agree on the complex and far-reaching legislation that would affect nearly every American. The Senate bill would fully repeal the state and local deduction claimed by many taxpayers, an idea that has drawn vigorous opposition from House Republicans in New York and New Jersey and resulted in a compromise in the House version of the bill that would allow property taxes to be deducted up to $10,000. On the other hand, the House bill would cap the mortgage interest deduction, an idea that caused intense blowback from the real estate lobby, but the Senate tax measure would leave it unchanged. Click for more on the similarities and differences between the House and Senate bills.

Please some one tell us what would a real tax reform look like…….

No matter our politics, most Americans have a beef with taxes. And it’s no wonder.

Working class Americans pay a much greater share of their income than the wealthiest Americans, who get away with exploiting tax loopholes and paying less than their fair share to support public projects and government programs.

Our system is rigged to favor the richest, so tax reform is key to un-rigging the economy. But the latest GOP tax plan is a slimy wet kiss for the wealthiest Americans.

It doesn’t even try to propose reforms — it’s literally just a giant giveaway to millionaires, billionaires, and wealthy corporations. The non-partisan Tax Policy Center estimates that 80 percent of the benefits in the new plan will go to the richest 1 percent, while nearly one in three working families would end up paying more.

https://www.commondreams.org/views/2017/11/01/what-real-tax-reform-could-look

Real tax reform is possible but the GOP feels they have to treat the rich and corporations as if they make up the bulk of the taxpayers……when we start treating all taxpayers the same then we can have real tax reform that will make the country strong again.