November 20, 2017

Republicans in Congress think you're an idiot

The best summary of  the tax bill we've seen

Word: The reality of corporate taxation

Bernie Sanders - In 1952, corporate America paid 32% of all federal taxes. Today, despite record breaking profits, they pay less than 10% and one out of four large profitable corporations pay nothing in federal income taxes.

GOP giving bigger tax cuts to foreign investors than to ordinary Americans

Tax Policy Center -The Trump Administration and congressional Republican leaders (the Big Six) have proposed a $70 billion-a-year tax cut for foreign investors.  It stems from the cut in statutory corporate income tax rate from 35 percent to 20 percent (and repeal of the corporate AMT), which would reduce corporate taxes by an average of $200 billion a year, or $2 trillion over 10 years.  While economists debate who gains from corporate tax cuts over the long run, they generally agree that owners of U.S. corporate stock would reap the short-term benefits. . . .In the short run, foreigners would reap about 35 percent of the benefits of the cut in corporate taxes, which translates to around $70 billion a year

Word: The addict in politics

Sarah Silverman, Guardian - I look at Trump and the billionaire oligarchs he surrounds himself with as addicts. I do believe they are addicted to wealth, and that wealth addiction is no different from crack addiction. It fills an empty void. They will sell their grandmothers. They’re literally selling our entire country’s health for more. I remember Garry Shandling saying in 2007 that when we put people in office who are addicted to money and power, we might as well be giving a bunch of cokeheads a mountain of cocaine and saying: ‘Divide this equally among your people.’ I see it proven true every day. And we’ve raised an entire generation to worship money at any cost, no matter how it’s made.”

November 19, 2017

How much the GOP plans to rip off college students and their parents

$71 billion: Cost to students and families of provisions that repeal and revise higher-education tax benefits in the bill passed last week by the House.

Just a reminder...