Showing posts with label #GOP Tax Cuts. Show all posts
Showing posts with label #GOP Tax Cuts. Show all posts

Tuesday, December 19, 2017

Paul Ryan and GOP’s Final Solution for America: Death by trillions of tax cuts



I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."  ~~ Thomas Jefferson


Make no mistake about it, the GOP’s latest tax scam plan is designed to further enrich the banks and Wall Street on the backs of the middle class, the elderly, children and the infirmed.  After years of horrific legislation that has left America a hollowed out vessel unable to care for its own citizens, Paul Ryan and the GOP are ready to plunge a dagger into what’s left of the heart of America with their final solution, death by trillions in tax cuts for the rich.   From Salon:

Excerpt:

Why are Republicans so cruel to the poor? Paul Ryan’s profound hypocrisy stands for a deeper problem

Paul Ryan has dreamed of slashing Medicaid since his keg-party days — and that blithe hostility is widespread.  Republican Paul Ryan, like most other members of the U.S. Congress, is a millionaire.

Christa Patton is 68 years old. She is frail and no longer able to leave her home. She lives on a fixed income. Patton told Van Jones on a recent episode of his CNN show "The Messy Truth" that she would not be able to eat without the Meals on Wheels program.

Paul Ryan is the speaker of the U.S. House of Representatives. By his own account, in college he used to hang out with his friends and drink beer while sharing his dreams of cutting Medicaid. When Ryan was 15 years old, his father died from an alcoholism related heart attack. Ryan and his family then received his father's Social Security survivor's benefits. Ryan used that money to attend college. This was not the only money that Paul Ryan received from the federal government. His family built its wealth from receiving government contracts.

Like his idol Ayn Rand (who argued against the very idea of government and the commons yet received Social Security and Medicare), Paul Ryan has combined meanness, cruelty and callousness toward the weak and the vulnerable with gross and unapologetic hypocrisy.

Republicans like Ryan — along with the millionaires and billionaires who comprise Donald Trump's Cabinet and inner circle — literally want to take food, shelter and health care away from poor people like Christa Patton. Today's Republicans view these Americans as useless eaters to be disposed of by means both passive and active.

The rape and pillage of America began in 1913 when an illegal cabal meeting at Jekyll Island sold out America to the Rothschild banking cartel.  The cartel reached its zenith in 2000 with the overthrow of the American government and the installation of George W. Bush as President of the United States.  With all the chessmen in place the 911 attacks gave cover for the cartel to plunge America into endless war and the destruction of everything America ever stood for.  From Veterans Today:

Excerpt:

NEO – America Beaten, Down for the Count

The world knows America is done for… We could give dates, 9/11; or back in 1913 when America took on an illegal Rothschild central bank. Perhaps it really is 1913; and the America of today is the result of bleeding that began then.

It is always about debt. When nations take on a central bank, and all central banks are foreign owned, all controlled by the Rothschild family, their institutions crumble, the family, religion, their government, the courts, their media, all are targeted…  The reason 9/11 is critical has nothing to do with the endless war sweeping the world that it began, proxy armies, phony terror groups and teeming millions of refugees.

For America it announced the largest robbery in history, $10 trillion in assets, enough to buy the entirety of Europe, simply “disappeared.” Only days before 9/11 it was learned that $2.4 trillion was missing from the US military budget alone, according to Defense Secretary Donald Rumsfeld.

What few know is that the group investigating, in their entirety, were killed on 9/11 during the incident at the Pentagon. We call it an incident because calling it a terror attack or even an airline crash is unsupportable without throwing away any reason whatsoever.  Then we ask, who does such a thing, who would take down America, destroy their government, collapse their economy as in 2008, and allow a nation to be led by a leader known to be clinically insane? … 

By the end of 2007, America’s 5 leading investment banks were bankrupt, having “misplaced” trillions in assets. Most major corporations were the same, broke, hopelessly, to the extent that the Down Jones Industrial Average had to be reconfigured as the leading companies in America were no longer viable…

Between 2008 and 2010, unemployment in America rose to over 10%. Personal savings collapsed and personal debt rose to unimaginable levels while key industries like arms, oil and pharmaceuticals … made record profits.  With interest rates dropped to almost nothing by Bush 43, millions of America families sought to protect assets through buying homes that would otherwise be unwise, overlarge, unaffordable, sold on the idea of a ballooning real estate market by media pundits…

Most homes lost 60% of value across America and those forced to sell took on a lifetime of debt. Similarly, retirement savings typically lost 72%. A million dollar 401k that would return $5000 a month for life based on Clinton era rates and market performance was now only worth a little over $200,000 with an income potential of $200 a month. America’s middle class would work into their mid to late 70’s, with skilled and management retirees sentenced to a decade of menial labor on behalf of the banks that organized the crash…,

This is the business model of the world’s banking system. This is what is meant by “globalism.”

“This is the business model of the world’s banking system” carried out by the traitors “elected” to congress, not by the American people but by the banking cartels who control the elections in America.  Now their lackey Paul Ryan, who has Social Security to thank for his education and leg up in life after the death of his father, will usher in the “final solution for America” on behalf of his benefactors.  From World SocialistWebsite:

Excerpt:

Following passage of Senate tax bill, US ruling class takes aim at Social Security and Medicare

The passage by the Senate of the Trump administration’s tax bill is a landmark in the decades-long ruling class offensive against the working class in the United States.

With no serious opposition from the Democrats, and with final passage of a tax bill by the end of the month following negotiations with the House all but assured, congressional Republicans are moving on to the next stage of the class war agenda: the gutting of Social Security, Medicare and Medicaid.

The Senate version of the bill adds $1.5 trillion to the federal budget deficit, triggering automatic cuts in spending for Medicare, the federal health insurance program for the elderly, of half a trillion dollars over 10 years, according to the Congressional Budget Office, and setting the stage for massive cuts in other social programs.

Last week, Trump declared at a Missouri rally, “We’re going to go on to welfare reform.” On Wednesday, Republican Senator Marco Rubio of Florida told business executives: “Many argue that you can’t cut taxes because it will drive up the deficit.” On the contrary, he argued, the costs can be offset by imposing “structural changes to Social Security and Medicare for the future.”

After eight years of Obama’s pillage of Social Security, first through “GOP designed payroll tax holiday” followed by higher deductions of income from working people’s pay checks, along with no increases in SS benefits the truly savage attacks on the American people is under way by both parties.  Make no mistake about it, no one in congress is there to benefit the American people.  Both parties are responsible for the miserable state in America with their insatiable appetite for war.   Spending for war is never offset, and the military industrial complex is engorged with funds stolen from the American people.  From The Free Thought Project:

Excerpt:

In 2018 The US Gov’t Will Spend Nearly $2 Billion a Day — Solely on WAR

The price tag on the latest National Defense Authorization Act is $700 billion, which will cost American taxpayers nearly $2 billion every day in 2018.


While the United States Congress has struggled to pass legislation governing taxes and healthcare, it had no problem uniting on the 2018 National Defense Authorization Act—a bill that will ensure the U.S. continues to wage wars around the world, and that promises taxpayers will cover its costly expenses.  The price tag on the latest NDAA is a massive $700 billion, which means that for every day in 2018, American taxpayers will spend nearly $2 billion on war…

“This bill passed the House 356 to 70, including more than half of the Democratic caucus. It passed the Senate by voice vote—not a single Democrat opposed it…”  The 2018 NDAA approves $634 billion for the Pentagon.

This was done despite the fact that a recent report on the budgets of the Department of Defense and the Department of Housing and Urban Development, found that between the two departments, they have lost over $21 trillion in the last 17 years—enough money to pay back the U.S. National Debt…

Almost a trillion dollars a year is spent to overthrow elected governments in countries that have the audacity to sit on top of some of the world’s largest mineral reserves.  With almost a trillion dollars a year given to the Pentagon and its slush fund the Overseas Contingency Fund, America’s warriors must receive the best medical care in the world after they are wounded.  But alas no, the only ones receiving gold plated medical care through the Pentagon are our arm chair warriors in congress.  From Veterans Today:

Excerpt:

NEO: The Unseen Victims of America’s War Machine

How many more lives will America’s wars claim?

When the war drums begin, the first victim is reason, this is no secret at all. I recently met with a group of Russian war veterans about this issue – how those who fight wars are victims just like the armies of refugees and the dead strewn across the landscape, and are now called “collateral damage”, which may well represent a countless multitude…

In a world where America openly supplies al Qaeda with weapons of mass destruction, where Israel and Saudi Arabia fight side by side, and where “alternative facts” are used to support government policies, dissent itself is now a form of terrorism.

Military veterans aren’t all equal. Just visit Washington DC or towns like Annapolis, Maryland. There the strutting peacocks in uniform have profited greatly from war, wars they risked nothing fighting, wars they were paid to support and defend, not the nation, the United States mind you, but war itself, the business, the racket, the game…

In 1970, I returned from Vietnam and began medical treatment in the huge government system run by the Veterans Administration. My own injuries seemed minor as I entered the filthy hospital in Ann Arbor, Michigan where amputees lived on gurneys all over the building, stored in kitchen areas, storage closets, overflowing urine bags, the stench of gangrene, the moaning of endless pain and hopelessness…

This is what was really there, I saw it, I remember every minute of it. In 1938, American author and screenwriter, Dalton Trumbo, wrote an anti-war novel called Johnny Got His Gun. Trumbo was later blacklisted as a Russian sympathizer and banned from writing though…

In 1938, disabled veterans were an inconvenience. They still are, except at election time when each new candidate promises to address the wrongdoing of their predecessor and, of course, in the end, nothing whatsoever changes…

In a facility where there are luxury suites for members of congress to receive the most expensive medical care in the world, free of charge, paid for by American taxpayers, disabled combat veterans lived in filth, in many cases medical treatment withheld until they agreed to sign away their rights to disability pension benefits...

Yes, Paul Ryan and his cadre of millionaire politicians receive their medical care in luxury suites free of charge while combat veterans live in filth and are forced to sign away their rights to a disability pension for fighting in wars that benefit the Federal Reserve Bank and its shareholders.  That is life in Paul Ryan and Ayn Rand’s America.  All their wealth and perks aren’t enough, now they want to pillage what is left of Medicare and Social Security to pay for tax breaks for their billionaire campaign contributors.  From Lew Rockwell:

Excerpt:

The Stupid Party’s Tax Plan

In 1986, big gubmint tax and spending slasher Ronald Reagan unveiled a tax “reform” plan that continued the massive transfer of wealth from the poor and working classes upwards to the very wealthy. Reagan’s plan eliminated essential deductions for consumer loans (auto, credit card, personal) and overhauled the deduction for medical expenses, so that they had to have amounted to 10% of an individual or married couple’s income.

Donald Trump, as always dominated by the disastrous neocon thinking of Republican leaders like Paul Ryan, has released a new tax “reform” plan… Perhaps the most inexplicable aspect of this plan is its attack- and there is no other word to describe it- on home ownership…

Homeowners will no longer be able to deduct the property taxes they pay on their home under this plan….  Eliminating or nullifying the tax incentives for home ownership puts home values and middle-class homeowners at risk…  The Republican tax plan also eliminates some of the remaining deductions that poor and working class Americans still benefit from.

Student loans will no longer be deductible. The medical expense deduction that Reagan slashed dramatically will be eliminated. There will no longer be deductions for alimony expenses or moving expenses.  As perhaps the most laughable aspect of the entire plan, it leaves the dreaded Obamacare mandate intact, which means Americans can still be penalized for not having health insurance… the elimination of the Alternative Minimum Tax, which served to force the very wealthy with numerous loopholes and deductions to at least pay some tax.

And the centerpiece of the plan is a huge cut in the corporate tax rate, from 35% to 20%. Making a mockery of Trump’s rhetoric about forcing companies to move their industry back home, the plan permits companies to keep their profits offshore. The estate tax is also being eliminated, a benefit which will only apply to the absolute One Percent…

This tax plan will negatively impact a struggling real estate market, offer little if any tax relief to anyone except corporations, and eliminate the remaining deductions that the poor and middle-class most benefit from. It isn’t populist, won’t help the economy, and it certainly won’t make things any better for the majority of citizens…  The Stupid Party mantra regarding the lower corporate tax rate is that this will “create jobs” and an incentive to give pay raises to employees… 

True tax reform would start with auditing and abolishing the Federal Reserve, and adopting an honest money system that isn’t based on fractional lending, or more bluntly counterfeiting. “Our” debt belongs to the bankers, and isn’t our responsibility. It should be repudiated.

Our spending should reflect American interests, as candidate Trump stressed repeatedly, but President Trump has ignored. Rebuild the infrastructure. Bring all the troops home and stop starting pointless wars. Guard the borders and deport illegal immigrants. End the foreign visa work programs. America First and all that.

So there you have it, the GOP’s latest tax scam plan is designed to further enrich the banks and Wall Street on the backs of the middle class, the elderly, children and the infirmed.  Paul Ryan and the GOP’s real plan has always been the same, the Final Solution for America, death by a trillion tax cuts.  Now Ryan and the GOP can collect their blood money and retire their flag lapel pins, they have served their Wall Street masters and themselves well.  Trillions stolen from the Treasury by Wall Street and no cop on the beat.  This is Paul Ryan and the GOP’s Final Solution, death to America.


 
By Patricia Baeten

Sunday, October 22, 2017

Five ex-Presidents beg for hurricane relief on telethon as GOP passes trillions in tax cuts for Wall Street




What a world this has become, we are truly through the looking glass.  In what world would a country with four of its territories and 3 states leveled by hurricanes and fires pass trillions of dollars in tax cuts for the extremely rich?  From World Socialist Website:

Excerpt:

From hurricanes to tax cuts: The ruling class gets down to business

Even as the horrific destruction caused by Hurricanes Harvey and Irma is still being tallied, the US political establishment is moving rapidly to its main order of business: A massive handout for the corporate and financial elite.

Amidst this destruction, however, the US stock markets are on the rise—increasing significantly on both Monday and Tuesday. The reason is evident: the ruling elite is licking its collective chops at the prospect of a major cut in corporate and individual taxes for the wealthy.

Over the weekend, even as Irma was making landfall in Florida, Trump seized the moment to press for “dramatic tax cuts and tax reform.” With “what’s happened with the hurricane,” he said, “I’m gonna ask for a speed-up.”

Treasury Secretary Steven Mnuchin, the former Goldman Sachs banker and hedge fund manager (net worth $300 million), said on Tuesday that the White House is “super focused” on tax cuts, and that the administration is considering backdating these cuts to January 1 to provide a “big boon for the economy”—that is, for Wall Street.

So while the ruling elite are licking their collective chops” over the impending tax cuts, what is congress doing for Puerto Rico?  The American territories of Puerto Rico, Guam, Virgin Islands and the Marianas Islands have been the victims of the GOP and Wall Street predators for decades.  The Islands have been raped and savaged by the GOP with legalized slave labor, sex slavery and forced abortions, in what the ex-Speaker Tom Delay called “a petri dish of capitalism.”  Now Puerto Rico is really hurting.  From LaRouche Pub:

Excerpt:

Puerto Rico Faces Financial Disaster—There Is No Economy Left

Oct. 11, 2017 (EIRNS)—Puerto Rico’s Treasury Secretary Raul Maldonado told El Nuevo Día that the government will face a shutdown by Oct. 31 if Congress doesn’t intervene with additional funding.

In effect, there is no economy. Few businesses are operating, and therefore, people aren’t getting paid. Banks operate four hours a day. The official 12% unemployment rate will soar. McClatchy News Service also reports that the mainstay of the economy, agriculture, was devastated by hurricane Maria, with losses expected to top $2 billion, according to Agriculture Secretary Carlos Flores.

Nelson Morales, head of the Puerto Rican Electric Power Authority (PREPA), told El Nuevo Día that without aid from the Federal Emergency Management Agency (FEMA), the U.S. Army Corps of Engineers (USACE), or both, it will be impossible to restore full power to the island.

PREPA only has $500 million on hand, which is nothing compared to what’s required to rebuild the system. Yesterday, FEMA and the USACE said they had contributed $54.6 million and $115 million, respectively, to assist PREPA, which still a drop in the bucket. Sources told the daily that PREPA will need at least $3 billion, and that is probably a low estimate, given that the entire power system really must be built from scratch.

If the horrific conditions the Islands have been forced to live under weren’t bad enough, the GOP has now passed legislation to worsen their fate.  Under the cover of “hurricane relief”, the package passed by the GOP is anything but.  From The Intercept:

Excerpt:

PUERTO RICO RELIEF BILL CANCELS $16 BILLION IN DEBT — BUT NOT FOR PUERTO RICO

HOUSE REPUBLICANS UNVEILED a $36.5 billion disaster relief supplemental package on Tuesday night, intended to pay for relief and rebuilding efforts for the floods, hurricanes, and wildfires of the past several months. It includes money for Puerto Rico’s ongoing struggle with the aftermath of Hurricane Maria, though only a fraction of that headline number. In fact, $5 billion of the funds earmarked for Puerto Rico comes in the form of a loan, increasing the amount of money the island will eventually need to pay back.

And in a cruel irony, the bill also contains $16 billion in debt relief – just not for Puerto Rico’s crushing debt…

The island will get an additional $150 million loan to cover its matching funds for FEMA grants. Cities and states are required to put a small amount of money into sharing costs for disaster relief. That brings the total of loans to the island up to $5.05 billion. The appropriations committee allotted another $29 million for administrative expenses for the loan…

This is critical for Puerto Rico, which has trouble borrowing from private credit markets because of its existing $74 billion debt. But instead of replenishing the coffers with a grant, this is a loan — one Puerto Rico will also need to repay.

What the F*&K???  While congress is passing trillions in tax cuts for Wall Street vultures, they have appropriated $5 billion that is to go directly to pay the hedge fund vultures via Puerto Rico.   How could this get through congress?  Don’t the islanders have representation in the House?  From The Hill:

Excerpt:

House GOP kills voting rights for D.C., Puerto Rico, other delegates

Along strict party lines, House lawmakers on Wednesday shot down legislation allowing delegates to retain certain voting powers.

The surprise vote — the first of the new Congress — surrounded a provision of the Republicans’ proposed rules package that would prevent the six House delegates from presiding over, or voting as part of, the Committee of the Whole — a mechanism used to expedite legislation by effectively turning the entire chamber into a committee.

Under the rules of the last Congress, the six delegates — representing the District of Columbia, American Samoa, Guam, Puerto Rico, the Northern Mariana Islands and the Virgin Islands — were allowed to cast votes and preside over the Committee of the Whole. The Republican rules proposal would strip that power.

This is truly through the looking glass.  But this is just another case of Congress paying back their contributors.  If Puerto Rico were a state they would have been able to file bankruptcy.  That was not allowed by congress in this case, because Puerto Rico’s debt is held by the very vultures who fund their campaigns.  From Florida Politics:

Excerpt:

After taking donations from hedge funds holding Puerto Rican debt, Marco Rubio opposed bankruptcy

In opposing the bankruptcy filing for Puerto Rico, Republican presidential candidate Marco Rubio said he does not believe in a “silver bullet.” Puerto Ricans should tighten their belts, he declared.

According to Casey Tolan of Fusion, what Rubio fails to mention is that he received thousands of dollars in campaign cash from individuals – particularly hedge fund executives – who would lose big if Puerto Rico filed for bankruptcy.

Tolan reports on campaign finance reports that show Rubio’s campaign received contributions from a minimum of six hedge fund managers holding Puerto Rican debt. The junior senator from Florida has been the only presidential candidate openly opposed to bankruptcy reform for Puerto Rico.

The GOP tax cuts are a loser for America, they always were and always will be.  Since the Reagan Administration the GOP talking points have been to push tax cuts as economic stimulus.  The claim that “tax cuts pay for themselves” is been proven false over and over again.  From Op Ed News:

Excerpt:

How and Why Did the U.S. Become the World's Biggest Debtor, and What Are the Implications?

How did a nation that was until relatively recently (in historical terms) the world's biggest net lender become the world's biggest net debtor? More importantly, what implications does this situation have for the U.S. and for the rest of the world?

To answer the first question we need to go back a few decades in time to the Reagan era, when I believe the seeds of the country's present debt problems were sown. President Reagan inherited a nation that was not only one of the two great military superpowers on earth, but also by far the world's wealthiest nation and biggest net lender…

Reagan was also an economic monetarist, a Right-Winger who believed in low taxes and small government at home, but also in maintaining a strong military defense force both at home and abroad.

In response to criticism from many mainstream economists that his economic policies of reduced taxation and increased government spending would eventually bankrupt the nation, Reagan pointed to the so-called "Laffer Curve," named after the economist Arthur Laffer. 

The Laffer Curve was interpreted by right-wing theorists to show that reduced taxation rates promote free enterprise and grow the economy, thereby, paradoxically, increasing, rather than reducing, Government revenue.

As things turned out, critics of the "Laffer Curve" were proven unambiguously right in practice. Massively reduced taxation under Reagan resulted proportionally in massively decreased Government revenue. This was just as most mainstream economists and common sense thinkers had predicted.

To make things worse, to go along with this sharp reduction in the Government's tax income, the Reagan administration simultaneously massively increased military spending--to levels the world had never seen. The combined massive reduction in Government income and massively increased expenditures overseas, and the consequent need for massive borrowing to make up the shortfall, transformed the U.S. virtually overnight from the world's biggest net lender to the biggest net debtor.

If there is one thing equally as scurrilous as the GOP tax cuts it’s the GOP budget.  Even Fareed Zakaria is calling the GOP budget plans fantastical delusions.  Trump’s right-wing GOP Budget Director Mick Mulvaney’s budget is looney tunes.  

Excerpt:

Fareed Zakaria slams Trump administration for smoke & mirrors budget

The number I want to focus on is three point four trillion dollars. At the end of May, the Trump administration released details of its proposed budget for the next fiscal year. And on July 13th the nonpartisan Congressional Budget Office released their analysis of President Trump's budget.

The CBO says the President's budget underestimated the loss in federal tax revenues caused by its proposed tax cuts by a whopping three point four trillion dollars. How could the smart Goldman Sachs guys on Trump's economic team, Gary Cohn, Steve Minuchin, make such a big basic math error. Actually, they did it intentionally.

The administration assumed that because of its tax cuts the American economy would grow by three percent a year for the next decade. The CBO instead says the president's plan would increase GDP growth to 1.9 percent which most economists agree is the sensible assumption. Note that the American economy has grown on average just 1.8 percent over the last years, no more.

This method of fudging the numbers is called dynamic scoring. Common sense would tell you that if the government cuts taxes it'll get less money in tax revenues. But sprinkle the magic pixie dust of dynamic scoring and you can project much higher growth rates and then the revenue numbers saw upwards in theory…

In fact, the national debt tripled under Ronald Reagan. And After George W Bush cut taxes the national debt increased again. Bill Clinton by contrast actually raise taxes and ushered in stronger growth and higher tax revenues. But the mountains of evidence have not stopped Republicans from using dynamic scoring.

Science, logic and reason never permeate the GOP psyche.  Now they have passed the largest tax cuts in the history of the universe that will go directly to the top 1% with the “hope” that they will create jobs.  The House and Senate are reconciling their individual “Frankenstein” bills and one thing is for sure, whatever comes out will be a horrible nightmare for the American people. 

This is what America has come to, we have five ex-Presidents hawking for money on a telethon to repair damages from hurricanes. What a world this has become.  What kind of people are these in congress?  Are so they so sick and disgusting that they are unaffected by other’s grief.  What kind of politicians in a country with four of its territories and 3 states leveled by hurricanes and fires passes trillions of dollars in tax cuts for the extremely rich? 



By Patricia Baeten