While Dems Babbled About Russia, GOP Passed Trickle-Up Economics Tax Bill



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HELP ENLIGHTEN YOUR FELLOWS. BE SURE TO PASS THIS ON. SURVIVAL DEPENDS ON IT.
About the Author
 
Caitlin Johnstone
is a brave journalist, political junkie, relentless feminist, champion of the 99 percent. And a powerful counter-propaganda tactician. 
CAITLIN JOHNSTONE—You can’t focus on real problems and made-up Russia conspiracy theories at the same time, America. Republicans are going to keep getting away with making things cushier and cushier for the owners of powerful corporations at your expense while you’re fixated on the Putin decoy. Better sober up fast on your own, because the Democrats in Washington sure as shit aren’t going to help you.

 

BONUS: Steve Lendman’s analysis—
The Abominable House and Senate Tax Cut Bills
READ IT BELOW


by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)

 

Chuck Grassley, a political piece of scum disgracing the US senate. He happens to be a Republican (the out-in-your-face brand of corporate fascist, as opposed to the treacherous, semi-hidden corporate fascist brand represented by the Democrats). People like Grassley —who already played a big role in defeating single payer—are par for the course in American politics which thrives on corruption.
It’s worse than you think. The final version following House and Senate reconciliation will show the full extent of harm done to ordinary Americans – so corporate predators and super-rich ones benefit hugely at their expense. A congressional assault on Medicare, Medicaid and likely Social Security will follow to help defray part of the cost. Millions will lose health insurance. Ending the individual mandate assures higher premiums.

Most wealthy US households will pay no estate taxes. The estates of fewer than 0.1% of super-rich ones will pay it above a higher threshold level. Trump and other other wealthy Americans will save millions of dollars in taxes by elimination of the alternative minimum tax (ATM). Corporate predators will use their windfall for increased stock buybacks, along with financing mergers and acquisitions, not for jobs creation, minimally for other investments.

The measure will blow an additional $2 trillion hole in the deficit, in 10 years to top $30 trillion. Today it’s $20.6 trillion, or $63,000 for every US citizen, $170,000 for all taxpayers. This year’s federal budget deficit exceeds $670 billion. Financing it will be more expensive if interest rates rise. The nearly 500-page Senate bill wasn’t read by GOP senators voting for it, a flurry in last minute changes likely understood only by senators making and demanding them. According to top Senate Dem. Finance Committee member Ron Wyden:

“The American people are going to be stunned when they see what’s really in this.”

The measure has nothing to do with economic growth or jobs creation. As offshoring continues, more jobs will be lost, ones remaining mostly rotten ones for ordinary Americans, needing two or more to get by.

Bipartisan Policy Center senior vice president Bill Hoagland explained “entitlement cuts are definitely” coming. According to the Committee for a Responsible Federal Budget’s Maya MacGuineas, “Republicans have been telling themselves for years that they wanted to get into power so they could balance the budget, reduce the debt, cut spending and fix entitlements. They’ve just made it harder, not easier.”

Rubbing salt in an open wound, GOP hardliner Senator Chuck Grassley explained the misnamed Tax Cuts and Jobs Act is a payoff to corporate and high-net worth donors at the expense of ordinary Americans, saying:

People and entities that “invest” deserve congressional support, adding “not having the estate tax (and ATM) recognizes the people that are investing, as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”

The average American spends all they have and can borrow through credit card and other debt, struggling to feed their families, pay rent, service mortgages, handle medical bills, heat homes, cover transportation costs, manage education expenses for children, and other costs of daily living. Millions of households are one missed paycheck from homelessness, hunger and despair. America has a higher percentage of working poor than any other industrialized country. It’s the only developed one without some form of universal healthcare. Grassley and other GOP hardliners showed what side they’re on – thumbing their noses at constituent voters, supporting monied interests putting them in office, no one else.

VISIT MY NEW WEB SITE: stephenlendman.org (Home – Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.

My newest book as editor and contributor is titled “Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.”

www.claritypress.com/LendmanIII.html

Stephen Lendman Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a BA from Harvard University. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a marketing research analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. In early 2007, radio hosting followed. Lendman now hosts the Progressive Radio News Hour on the Progressive Radio Network three times weekly. Distinguished guests are featured. Listen live or archived. Major world and national issues are discussed. Lendman is a 2008 Project Censored winner and 2011 Mexican Journalists Club international journalism award recipient.

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Think!

^0Americans are the most over-entertained, uninformed people on the planet.

Ignorant about domestic and geopolitical issues mattering most.

The most important act anyone can do is stop using all mainstream media.

No exceptions whatsoever. It’s brainwash propaganda.

Toxic sludge for the mind.

Voices like this are NEVER heard on the mainstream media.

The "1%" is the global plutocracy, the billionaires.

A sociopathic, puny segment of humanity.

These people pretend to honor and defend democracy.

But are its murderers and undertakers.

Gross injustice, war, grotesque inequality is their handiwork.

And the murder of the planet

Just 8 billionaires own as much wealth as HALF of all humanity.

That's 8 guys are richer than 4 billion people.

The corporate media is their main line of defense.

That's why the best way to break their hold on us...

Is to break their media.

The corporate chokehold on political information is killing us.

Save humanity, the planet and its innocent creatures.

Increase public distrust in the mainstream media.

Defeat their power to mislead.

They lie 24/7. They sell you war. Injustice. Death. Confusion.

And they never stop.

Some more obviously than others, but they all lie.

So trust no one on the Big Media.

And beware of "entertainment shows".

Most also carry highly toxic imperialist propaganda.

Like the fungal NCIS series. Or "24", glorifying DHS.

The police state.

Or CBS Madam Secretary.

A ridiculous show, like The West Wing.

Telling us the US government is good.

That the president is good...that its cabinet is good.

That the US establishment—which they represent...

has noble aims. Rubbish!

Get the healing truth from citizens' media.

Like The Greanville Post and similar free voices.

Do your part to break the power of the mainstream media.

Defeat the presstitutes. The media felons.

Become a soldier in the battle of communications.

Which we must win.

As the ruling cliques prepare the world for nuclear war...

now it's a matter of survival!

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Parting shot—a word from the editors
The Best Definition of Donald Trump We Have Found

In his zeal to prove to his antagonists in the War Party that he is as bloodthirsty as their champion, Hillary Clinton, and more manly than Barack Obama, Trump seems to have gone “play-crazy” — acting like an unpredictable maniac in order to terrorize the Russians into forcing some kind of dramatic concessions from their Syrian allies, or risk Armageddon.However, the “play-crazy” gambit can only work when the leader is, in real life, a disciplined and intelligent actor, who knows precisely what actual boundaries must not be crossed. That ain’t Donald Trump — a pitifully shallow and ill-disciplined man, emotionally handicapped by obscene privilege and cognitively crippled by white American chauvinism. By pushing Trump into a corner and demanding that he display his most bellicose self, or be ceaselessly mocked as a “puppet” and minion of Russia, a lesser power, the War Party and its media and clandestine services have created a perfect storm of mayhem that may consume us all. Glen Ford, Editor in Chief, Black Agenda Report 


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