Tax Play. The New Way

 

 

 

Drive-by legislating.

Our Plutocratic Congress.

Remember when the GOP used to harp endlessly about our national debt?  We do.  Remember when they used our debt, again endlessly, to battle democratic tax-and-spend policies?  We do.  Remember how important “balancing the budget” used to be?  We do.  Does the GOP?  If you’re still looking to the right for fiscal sanity forget it.  Now it’s mostly revenue-robbing tax gimmicks bent to the 1%.  With the level of importance Trump places on net worth, do we really believe he will vote against his own net worth?   It’s not a trick question.  If violations of the Title of Nobility Clause in our constitution(emoluments) didn’t even slow him, tilted tax “reform” won’t either.

 

Our “Legislators”  actually write nothing.  They order-up complete bills like pizzas.  Special interest groups write them.  Need a tax bill?  Which side do you dress on?  Our “Legislators” don’t read either.  Here’s one.  Phone-in order to ALEC(look them up).  Bikes bill back to the customer–oops–member, who walks it down to the committee, who then mashes about then trots it on down to the floor, for that photo-op floor vote, and on out to the steps and air-sucking press mics, and onward to the chalkboard as a “Win,” regardless the deficit-bomb and prosperity-shifting lurking inside.  It’s the simplest oldest trick.  A bit of sugar to hide the medicine.

 

Except this time it’s not medicine.  It’s tax “reform” and we the middle-class and down, are the targets.  The young precisely.  It’s called “kicking the can down the road.”  It’s also a butt-simple tax cut for the 1% now, the cost of which  stacks directly atop our long-term debt.

 

 

Taxing is a Street-Fight.

We’re in–like it or not.

 Remember when senators used to dish out beat-downs on the chamber floor?  Same ugly energy, now utterly bald and over-amped.

 

 

T a x                                               plans are products.  Each reflects the environment from which it emerges.  It mostly however reflects the people who write and sell it.  The succession of tax plans produced in ’17 solely reflect the GOP, as all were cooked in extreme secrecy and hast.  Does America call that a “process?”  Can grab-asstic chaos give rise to good policy?

 

 

How many interviews have we seen where congressmen gape at the complexity of the tax code?  And these guys continue to assert–with a straight face–that they are doing a tax reboot in weeks.  Same guys.

 

 

clown-1047828_1920“We got this.”  These are the same people who decided to count graduate student tuition weavers as “income.”  Would you tax-brutalize the people creating your future?

 

 

Ronald Reagan inherited an economy in deep trouble.  Double-digit inflation, and interest rates.  The subsequent “Reagan tax cuts” held in high esteem by conservatives were revenue neutral.  Look it up.  Not one of the three plans flogged thus far are revenue neutral.

 

 

StockJaw goes on record now stating: the GOP will in future use the “ballooning” national debt to reverse any middle-class tax relief passed now, if not already written into the bill.  The most recent plan set middle-class cuts to expire automatically in 2025.  Meanwhile, top end tax cuts are permanent.

 

 

 

For our GOP, boosting the economy means the old “Trickle down” myth.  Head of OMB David Stockman referred to Ronald Reagan’s “trickle down” economics as “Voodoo economics.”

 

Back in the early 80’s David Stockman was director of the OMB(office of management and budget).  When asked to comment on Ronald Reagan’s “trickle down” explanation for tax cuts going to large earners and companies David called it “Voodoo economics.”  Now David wasn’t an economist, but then neither are a bunch of other people.  That includes Jerome Powell, our new fed chair to be.

 

  Legislation is an ugly messy process as a rule.  Yet now we are witnessing a congress displaying no responsibility.  The GOP wants desperately to demonstrate any sort of effective governing, and a legislative win ranks first, at any cost. That’s a recipe for disaster.  Three problems exist.

 

1. “He who has the gold makes the rules.”  Ever looked at a breakdown of senator’s net worth?  Over 50% of current U.S. senators are millionaires.  Guess what?  They’re writing the rules–I mean dictating the rules.

 

 

2.  All GOP tax proposals are secret–unknown even to the members responsible for evaluating them.  The TPP was secret also.  People mistrust secret.  We do.

 

 

3.  The mad scramble.  What does haste make–right, waste.  Who hasn’t seen it?  Our GOP is in chaos, on all fronts.  No?  Fact.  Following 7, count ’em, 7, years of repeal Obama care rhetoric, when prime time came they had nothing.  How is that not a failing grade?

 

 

full-moon-2135225

Full moon over lotto-ball tax “reform.”  Our C-student congress.  7 year assignment undone.

 

 

Further, they prepared nothing in advance for the day they took power.  The GOP can not govern, in part, because they are hopelessly divided.  That’s also why they had no smart, sophisticated plans, of any kind when the assignment came due.

 

How can we take a party seriously when they fail, for years, to build a plan to replace even their most hated program?

 

 

city-1487891_1920

Following seven years of hate, the GOP assumes power without a plan to replace the demonic ACA.  And these are the people running America?  Anywhere else three strikes means you’re out.

 

 

Unilateral legislation is a recipe for repeal.  The balance of power in Washington shifts and purely partisan legislation are the first targets.

 

Was the so-called “Kansas tax experiment” for economic growth real?  Was the plan ever legitimate?  Back in 2012 Kansas Governor Sam Brownback(R) bullied through legislation which cut to 0% state income taxes for all “pass-through” businesses in the state.  Immediately state tax revenue began falling, and kept falling, and then fell further.  Nearly five years and a billion dollars in the hole, the Kansas legislature finally recognized that compounding annual revenue losses would not work.  Who knew?  In 2017 the “real live experiment” was finally declared a failure.  And it seems no one even noticed the screamingly obvious.

 

 

kansas-243079_1920

Kansas Governor Sam Brownbacks’ “real live tax experiment,” otherwise known as the “campaign  donor payback program.”

 

The Kansas “tax experiment” was never intended as a tax scheme.  The Kansas tax experiment was a campaign donor payback program.  Sold to the people as an economic boast, the plan relieved 300,000 businesses of income taxes for four years.  That’s cash saved direct to the bottom line.  The plan?  Let it roll until the legislature has no choice but to repeal.  Once repealed, Brownback simply said the plan wasn’t given the time to succeed.  Think Cuban Trade Embargo.  At the time of repeal the state faced an 886m. budget hole, and the states’ credit rating had been trashed.  So the Brownback party was over, but still being paid for by the people of Kansas.  Apparently for Brownback, the way to revenue growth requires going broke first.

 

Thanks for reading.  Keep looking.

 

StockJaw

businessman-2365538_1920

StockJaw.com

 

Images sourced from Pixabay.

https://pixabay.com/en/photos/

Pixabay.com is simply amazing–a sprawling compendium of joy.  Thank you Pixabay.  If you also know love and use Pixabays’ lavish resource, please take time to donate to them at Pixabay.com.  We do, truly.

Additional resources:

Investopedia.com.  Seriously Wonderful.  Fact.

http://www.investopedia.com/

Charles Schwab.  In Our Opinion, the best broker going.

https://www.schwab.com/public/schwab/client_home

STOCKJAW.COM EARNESTLY THANKS YOU FOR YOUR INTEREST AND WISHES YOU THE VERY BEST.  THE WORLD BEING WHAT IT IS, WE MUST POST THE FOLLOWING:  ALL CONTENT ON STOCKJAW.COM IS PURELY FOR GENERAL EDUCATIONAL AND ENTERTAINMENT PURPOSES ALONE.  ANY ACTION TAKEN BY ANY READER IS THE SOLE CHOICE AND RESPONSIBILITY OF SAID ACTOR.

Be careful.  Do the work.  Have patience, with yourself.  Never put your dreams away.

 

stockjaw

One thought on “Tax Play. The New Way

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s