Well…okay, I know not many of you follow what the fed does on a daily basis, but today fed chair Powell lowered interest rates by .25 percent citing weak manufacturing and business investment data….now hmmmm…let’s think back a bit to 2017…I wonder what the reason was for the huge tax cut given to business and millionaires? Yep you guessed it…they were pushed and pushed by the repubs that they would “jump start” exactly those two things…oh, and also pay for themselves and give every working person a 4,000 dollar raise…but the CRS study found that the tax cuts did nothing to juice economic growth or raise wages…it just transferred wealth to the 1% and is causing trillion dollar deficits as far as the eye can see. You know, this should be the last nail in the tax cut coffin but just yesterday, Ted Cruz and his cronies have floated a new scheme to cut taxes on the rich even more…saying that “it will work this time” to keep the economy moving…yeah, right, Ted…never worked before….won’t work now…what a damn zombie idea that just won’t die…
Tag Archives: Tax cuts
Where are the jobs?
Well…with the job numbers that came out this morning, it is clear that the assertion out of the repubs that tax cuts for corporations would spur hiring was just a lie. But, we in the fact based world knew that….instead of the 300K plus job adds that were forecast, the economy only added 105K….and it has been 5 months since the tax cuts passed and that should be plenty of time for the billions and billions of dollars in cuts to have taken effect. What about wage growth, the other effect that the repubs crowed about when passing the bill? Isn’t happening anywhere…..and the CEO’s who were asked the question said they have no plans to raise wages…just to take the tax cut money and line their pockets with it. Now, I know you’re probably tired of hearing me talk about this, but this has to be kept in the spotlight at least until the election…and the fact that 90% of the country won’t see a dime in their pockets from the tax cut needs to be tattooed on every repubs forehead until them. Geez….
Since when is Warren Buffet in the middle class?
Well…we all know that the repubs lie all the time, every damn time they open their mouths it’s a lie…and that was the case with the tax cut scam that has been foisted on the American people. They have gone on an on about how much of the cuts will go to the middle class; that it’s primary benefit will go to the middle class…my question is since when is Warren Buffet in the middle class? Just yesterday, Buffet revealed how much his tax cut was from that odious piece of crap…29 billion dollars…yep, one person, one of the richest people in the world got a gift of 29 billion dollars from the cuts…I wonder what you got? I know I didn’t get a damn dime and analysis of the law found that companies and the rich got over 95% of the cuts….so, that leaves 5% for the rest of us…I wonder what 5% divided by 330 million people is? Not jack shit, and the lie that giving companies all that money would “trickle down” to higher wages…nope wrong again….only 3.5% of the tax cuts went into wages and most of them went to “bonuses” that are one time things…not a raise in wages that are permanent. The rest went to stockholders and owners just as it was designed to do….so when you look in your paycheck and see that extra buck fifty….remember the 29 billion and how the repubs screwed you….
Crumbs for the workers…as always…
Well….everyone but the repubs knew that the great tax giveaway of 2018 would benefit corporations and the 1%, and now we see that we knew what was happening…and the first crumbs are being sprinkled on workers starting with the big banks. and manufacturers. The banks have been crowing that the huge tax cuts they have been given is trickling down on their workers as they announced bonuses to some of their workers of up to $1,000 dollars…but, when you look at the comparison of the size of the tax cuts to the banks, the bonuses that are going to SOME workers are equal to less than 2% of the tax cut that the top 1% is going to get…so this huge tax cut that is going to decimate tax receipts is not going to anyone but the rich…or to put it in the words of a repub senator: “We need to reward our donors or they are going to turn off the money taps”…and that is the problem…many manufacturers and banks have used the tax cuts to finance laying off thousands of workers that they would have kept on without the cuts….again, the result of the shoddy bill that no one knew what it contained….but, there is only one thing you really need to know about the cuts…that the day after the tax cuts passed, Koch industries wrote Paul Ryan a check for $500K …talk about “pay for play”….geez…
Walmart is still evil…
Well….we all know that Walmart is one of the most evil companies in the world and one of the biggest corporate welfare queens, getting almost 7 billion dollars in subsidies for it’s workers since they pay them so little they are eligible for both medicaid and food stamps; that we pay for out of our tax dollars….and they just bought themselves a tax cut that will go straight into the Walton’s pockets…but they have a new little twist they are pulling across the country at their stores….while out of one side of their mouths, Walmart continued to tell the lie that the tax cut will spur job growth…and we have to remember that has never happened from ANY tax cut the idiot repubs have tried…while out of the other side of their mouths they informed thousands of management level employees that their jobs are being eliminated…and here is the real evil kicker…the ones let go are being allowed to re-apply for the new job classification that will pay almost 30% less than the jobs they were doing….and the jobs aren’t changing at all…the ones re-hired will be doing exactly the same jobs but for 30% less than they were making…that, in my book, is just one of the most evil things I have ever seen…but what do I expect from one of the most evil corporations in the world? Geez….
It’s gonna be a bloodbath…
Well…just when I thought the repubs couldn’t go any lower in their zeal to give the country away to the rich and corporations…today we had little Marco Rubio just flat come out and admit that the main thing that the repubs want to accomplish with this tax bill is to destroy Social Security and Medicare…by driving the deficits through the roof by cutting taxes, they have an excuse to gut all of what is left of the safety net….and I predict that if they do pass this bill, there will be a bloodbath that will destroy the repubs in 2018…especially since they are attacking one of the only groups that staunchly support them…old, white retirees….what is going to happen when next year they cut 25 billion from Medicare and then tell these same retirees that their cancer treatment is no longer going to be paid for. So, who are the “death panels” in this country? It is the repubs that will be killing people by cutting the Medicare and SS that retirees like me have paid for our entire lives…and now the repubs say “nevermind” we’ll keep the money you paid in and give it to the rich in the form of tax cuts…this is what you voted for you stupid repub voters…impeach,,,
Oops….
Well…with the lying repubs lying again about their tax cuts for the rich and corporations; saying they will spur investment by the corporations and HUGE amounts of new jobs….well, to listen to the ceo’s. not so much….in a business forum the other day, Gary Cohn asked for a show of hands from the attendees who would be investing and adding jobs if their taxes are cut….didn’t turn out how he expected when only a few raised their hands…and this goes to how the tax cuts are ideological in nature…they have never worked to spur investment or create jobs….not from Reagan, not from Bush, not ever….all tax cuts for the rich ever do is make the rich richer…especially in this time when corporations have more retained cash on hand than ever in history….and would invest it if there was excess demand for their products…but, with how wages have stagnated even as prices rise, demand can’t rise without consumers taking on more and more debt…which they are reluctant to do….so, the ceo’s know what is going on…now, they need to tell the repubs that tax cuts are not needed….geez…
Econ 101…
Well…the repubs hell bent on destroying the economy with more tax cuts for the rich and corporations, I thought it is time to go back and talk a little Econ 101. First, lets get to the nonsense that cutting taxes on the rich will trickle down and benefit everyone else…IT DOESN’T WORK….all of times this has been tried and everywhere it’s been tried, all it did was balloon the deficit or make sure that massive cuts to education, roads, and everything else had to happen…just take a look at the mess in Kansas when all of these stupid ideas were tried over the past two years and it cratered the economy there…so now doing the same thing to the whole country will make it work? Second, corporations have so much cash on hand that they just don’t know what to do with it, so why would a tax cut make them add workers? It is DEMAND that makes businesses expand and, with the lag in growth of consumer income and the resultant lack of demand, you could cut business taxes to zero and they would still not add any more jobs….and that is a fact, it’s not liberal bias, or the fake news that the modern repubs live on…it is a fact…but, as we know, facts don’t mean anything to these idiots…and they would never let facts get in the way of legislating their ideology….geez…
Tax cuts will fix hurricane damage?
Well…are you really surprised the the idiot trump came out today with tweets saying that the damage done by Harvey and Irma can only be fixed by big tax cuts for the rich and corporations? It is the repub mantra that we have heard over and over for the past 30 years that whatever problem happens, tax cuts will fix them…unemployment high? Tax cuts will fix it. Huge deficits? Tax cuts will fix it. People starving? Tax cuts will fix it. Now, I wonder what the economic mechanism is that will convert tax cuts for the rich into replacing the homes destroyed by the hurricanes? Is is magic? Are the rich going to swoop in and repair homes out of the goodness of their hearts? Are corporations going to turn the tax cuts into fixing the destroyed infrastructure in Texas and Florida? If you believe that, you’ve drunk the repub kool aid and facts don’t mean anything to you anymore….let’s put it bluntly, tax cuts don’t do anything but enrich the rich…and make ceo’s even richer…they do nothing for anyone else…geez….
More tax cuts for the rich…
Well…it wasn’t any surprise when the idiot trump unveiled his “tax reform” plan and it gives all of the tax cuts to the rich…what did you expect? Here’s the kicker…his treasury secretary won’t even promise that middle class taxes won’t go up…yep, you heard it….the rich are going to get 250 billion dollars a year in tax cuts while you and I are going to be asked to pay for them…so, get out your checkbook, chumps…the idiot you voted for, who promised you “yuuuuuge” tax cut is going to raise your taxes and put the money right into his pocket. Do you feel screwed yet? You’re going to lose your healthcare and now you are going to pay more in taxes since you believed this idiot….will this change anyone’s mind that voted for trump? Nope…they are just too damn dumb to see it…impeach…