HOW MUCH WILL THE CLINTONS, THE
OBAMAS AND THE DONALD ALONG WITH
THEIR LOOTING CRONY BANKSTERS
COST THIS ONCE GREAT NATION?
"The American oligarchy, steeped in criminality and parasitism, can produce only a government of war, social reaction and repression. In its blind avarice, it is creating the conditions for unprecedented social upheavals. It is hurtling toward its own revolutionary demise at the hands of the working class."
The Trump tax plan: More money
for the oligarchs
OBAMAS AND THE DONALD ALONG WITH
THEIR LOOTING CRONY BANKSTERS
COST THIS ONCE GREAT NATION?
“Our entire crony
capitalist system, Democrat and Republican alike,
has become a
kleptocracy approaching par with third-world hell-holes.
This is the way a
great country is raided by its elite.”
Karen McQuillan AMERICAN
THINKER.com
The Trump tax plan: More money
for the oligarchs
28 April 2017
In presenting the administration’s tax plan at a White House
press briefing on Wednesday, Trump’s top economic advisers, Gary Cohn (net
worth $610 million) and Steven Mnuchin ($500 million), both former Goldman
Sachs bankers, could barely contain their glee over the prospect of a massive
transfer of wealth to themselves and their fellow oligarchs.
Cohn, the director of Trump’s National Economic Council, set the
tone, gushing: “This is quite an historic day for us and one that we’ve been
looking forward to for a long time… We have a once-in-a-generation opportunity
to do something really big.”
The “really big something,” as the one-page handout to reporters
made clear, is a plundering operation that will shift trillions of dollars from
the federal Treasury to the bank accounts of the rich and the super-rich. The
aim, besides adding to the obscene wealth of the financial aristocracy, is to
starve and eventually eliminate basic social programs such as Medicare and
Social Security.
The proposals outlined by Cohn and Mnuchin include:
• Abolishing taxes that impact only the rich, such as the estate
tax, the alternative minimum tax and a capital gains surcharge for Obamacare;
• Cutting the corporate tax rate as well as the rate for
business profits taken as personal income from 35 percent to 15 percent; and
• Reducing the top income tax rate from 39.6 percent to 35
percent.
The administration is also proposing to eliminate the taxation
of profits made by US-based corporations outside the country, along with a
one-time tax incentive for corporations to repatriate trillions of dollars in
profits held in offshore accounts.
The list of demands totaled a mere 200 words. In reality, the
agenda could have been summed up in just four: “We want more money!”
The corporate-financial elite is particularly fixated on
abolishing the estate tax. This is because it wants to nail down for its great
grandkids everything it has stolen in the past. This tax on inherited wealth,
established in 1916, has been repeatedly watered down, but the billionaire
parasites want it wiped off the books to establish themselves as an American
royalty.
Trump and his Goldman Sachs advisers are resorting to shameless
lying to promote the tax scheme. Mnuchin, who appeared on the three network
morning news programs on Thursday, insisted that the tax plan will benefit
working and middle-class people, not the rich. “This isn’t about a dramatic tax
cut for the wealthy,” he asserted. “It’s a middle class income tax cut to
create American jobs. Jobs, jobs, jobs.”
He also repeated the ridiculous claim that the
multitrillion-dollar cost of the plan will not increase the federal debt
because it will pay for itself through increased economic growth. An
independent analysis of Trump’s campaign tax plan, similar to the proposal
presented Wednesday, estimated that it would raise the federal debt by an
additional $7 trillion in the first decade and $21 trillion by 2036.
The massive transfer of wealth will not go to
investment, but to acquiring bigger
diamonds; more luxurious mansions, yachts
and private jets; new private islands; more
security guards and better-protected gated
communities to segregate the financial
nobility from the masses whom they despise
and fear.
investment, but to acquiring bigger
diamonds; more luxurious mansions, yachts
and private jets; new private islands; more
security guards and better-protected gated
communities to segregate the financial
nobility from the masses whom they despise
and fear.
A portion of the money stolen from the working class will be used
to buy more politicians and reporters to keep the democratic façade going.
The official “debate” on the tax scheme will be nothing more
than a smokescreen for implementing virtually all the tax proposals. The
Democrats are no less the lackeys of Wall Street than Trump and the
Republicans. The Obama White
House proposed a cut in the corporate tax
rate to 28 percent and repeatedly granted tax
breaks to big business as the centerpiece of
its phony “jobs” programs.
House proposed a cut in the corporate tax
rate to 28 percent and repeatedly granted tax
breaks to big business as the centerpiece of
its phony “jobs” programs.
Even as the Trump administration was rolling out its tax plan,
it was reported that Obama, following in the footsteps of the Clintons, had
agreed to speak at a Wall Street event in return for $400,000 fee. Payment for
services rendered.
It is nearly half a century since the Democratic Party abandoned
any policy of social reform, which it adopted under the pressure of mass
struggles of the working class. The increasing concentration of wealth in the
hands of the rich, abetted by changes in the tax structure, has been underway
for decades, carried out by Democratic-controlled Congresses and Democratic as
well as Republican administrations.
As a result, the corporate tax accounted for just 10.6 percent
of the federal government’s revenue in 2015, down from a third in the 1950s.
Today, two-thirds of active corporations pay no corporate tax. Large profitable
corporations pay an average rate of 14 percent, and some of the biggest
companies pay nothing.
The Trump administration marks the emergence of government of,
by and for the oligarchy in the purest form. But Trump is no aberration and he
did not emerge from outer space. He is the noxious outcome of decades of social
counterrevolution.
Obama handed to Trump a country in which the annual income of
the top 1 percent ($1.3 million) is more than three times what it was in the
1980s, while the pre-tax income of the bottom 50 percent ($16,000) has not
changed in real terms. The share of national income going to the top 1 percent
rose from 12 percent to 20 percent over that period, while that of the bottom
50 percent fell from 20 percent to 12 percent.
In human terms, this translates into a society wracked by social
crisis and vast suffering, with tens of millions unemployed or consigned to
poverty-wage, part-time jobs, life expectancy declining, and drug abuse and
suicide rates soaring. Entire generations of young people are condemned to
lives of economic insecurity, forced to live with their parents and postpone
getting married or having children. The elderly face the destruction of their
health and retirement benefits.
And all of this to sustain the meaningless and corrupt lives of
a small elite of financial parasites!
With the people of America and the world facing ever worsening
social conditions and the looming threat of world war, the top priority of the
political establishment is to hand over trillions more to the wealthy elite.
This shows that no social problem can be tackled without directly confronting
the oligarchy, breaking its power and seizing its wealth so that it can be used
to meet social needs.
The American oligarchy, steeped in criminality and parasitism,
can produce only a government of war, social reaction and repression. In its
blind avarice, it is creating the conditions for unprecedented social
upheavals. It is hurtling toward its own revolutionary demise at the hands of
the working class.
Barry Grey
AMERICA’S ECONOMIC ARMAGEDDON
The Impact of TRUMPERNOMICS
The Impact of TRUMPERNOMICS
Under
Obama-Clintonomics, the rich became VERY rich and we got the tax bills for
their bailouts and crimes!
Trump and his Goldman Sachs regime will double the numbers of rich and quadruple the number of LEGALS living in poverty.
Trump and his Goldman Sachs regime will double the numbers of rich and quadruple the number of LEGALS living in poverty.
TRUMPERNOMICS: A NATION
RULED BY GOLDMAN SACHS:
IT WORKS! BUT ONLY FOR THE SUPER RICH!!!
"The same period has
seen a massive growth of social inequality, with income and wealth concentrated
at the very top of American society to an extent not seen since the
1920s."
"He (Trump) is able to get a
hearing because millions of people are being driven into
economic insecurity and poverty while the rich and
the super-rich continue to amass obscene levels
of wealth. He is able with some success to divert mass discontent
along reactionary nationalist and racialist channels precisely
because what passes for the “left” in American politics,
anchor by the Democratic Party, has moved ever further
to the right, culminating in the Obama administration which
has presided over endless war and an unprecedented redistribution of
wealth from the bottom to the top of the economic ladder."
TRUMPERNOMICS: The Goldman
Sachs Doctrine of Unbridled Looting
THE FINAL TRANSFER OF AMERICA’ ECONOMY TO THE SUPER RICH!
http://mexicanoccupation.blogspot.com/2016/09/barack-obama-and-his-crony-bankstershow.html
THE GREAT DEPRESSION IS JUST AROUND THE/ALL CORNERS!
FOLLOWING THE CRIMES OF BILL AND HILLARY CLINTON BECOMES AMERICA’S ROAD
TO REVOLUTION
http://mexicanoccupation.blogspot.com/2016/10/bill-and-hillary-clintons-global.html
Transcripts released by
WikiLeaks of Clinton
speeches to Wall Street bankers, for which she
received six-figure paychecks, show her praising the
recommendations of the 2010 Simpson-Bowles
deficit-reduction commission, which called for
sweeping cuts to Social Security, Medicare and
Medicaid; the elimination of 200,000 federal jobs; a
tax on employees’
speeches to Wall Street bankers, for which she
received six-figure paychecks, show her praising the
recommendations of the 2010 Simpson-Bowles
deficit-reduction commission, which called for
sweeping cuts to Social Security, Medicare and
Medicaid; the elimination of 200,000 federal jobs; a
tax on employees’
THE DEMISE AND ULTIMATE DESTRUCTION of HILLARY CLINTON
"Hillary Clinton is a known
liar, a criminal of monstrous proportions; others have gone to prison for
crimes she has committed over and over: lying to Congress, lying to the FBI,
violating national security laws by which she was bound as Secretary of State,
etc. It's a long list."
Clinton, the candidate favored by most of Wall Street and the corporate
elite and large sections of the Republican Party establishment, is seeking to
assemble something akin, within the framework of the US political setup, to a
grand coalition between the Democratic Party and the Republican leadership.
http://mexicanoccupation.blogspot.com/2016/10/clinton-preparing-bipartisan-government.html
Transcripts released by WikiLeaks of Clinton speeches to Wall Street
bankers, for which she received six-figure paychecks, show her praising the
recommendations of the 2010 Simpson-Bowles deficit-reduction commission, which
called for sweeping cuts to Social Security, Medicare and Medicaid; the
elimination of 200,000 federal jobs; a tax on employees’ health benefits; and
huge cuts in income taxes for the wealthy and corporate taxes.
“But what the Clintons do is
criminal because they do it wholly at the expense of the American people. And
they feel thoroughly entitled to do it: gain power, use it to enrich themselves
and their friends. They are amoral, immoral, and venal. Hillary has no core
beliefs beyond power and money. That should be clear to every person on the
planet by now.”
Wikileaks exposes Obama’s bankster-infested
administration!
BARACK OBAMA …… the banksters’ RENT BOY!
“Citigroup’s recommendations came just
three days after then-President George W. Bush signed into law the
Troubled Asset Relief Program, which allocated $700 billion
in taxpayer money to rescue the largest Wall Street banks. The single
biggest beneficiary was Citigroup, which was given $45 billion in cash
in the form of a government stock purchase, plus a $306 billion
government guarantee to back up its worthless mortgage-related assets.”
MUCH MORE HERE:
“As president, Obama not
only funneled trillions of dollars to the banks, he saw to it that not a
single leading Wall Street executive faced prosecution for the orgy of speculation and
swindling that led to the financial collapse and Great Recession, and
he personally intervened to block legislation capping executive pay at bailed-out
firms.”
“So
when Clinton was hobnobbing with Goldman Sachs CEO Blankfein in 2013,
while investigations of wrongdoing by Goldman and the other
Wall Street banks were still ongoing, she was consorting with a man
who belonged in prison.”
CRONY
BANKSTER LOOTING OF AMERICA
THEIR GOLDEN AGE OF PLUNDER IS NOT OVER!
NO PRESIDENT IN HISTORY SUCKED IN MORE BRIBES FROM BANKSTERS
NOR INFESTED HIS ADMIN WITH BANKSTER CRONIES MORE THAN OBAMA!
And
while the Obama administration worked systematically to bail out the banks and
make the financial oligarchy richer than ever, shielding the architects of the
Great Recession from criminal prosecution, it did impose fines for some of the
banks’ grossest swindles, including the sale of worthless subprime
mortgage-backed securities, the rigging of key global interest rates such as
the London Interbank Offered Rate (Libor), drug money laundering, illegal home
foreclosures and other illicit activities.
BARACK OBAMA , HIS CRIMINAL
BANKSTERS AND THE
LA RAZA MEXICAN DRUG CARTELS….
LA RAZA MEXICAN DRUG CARTELS….
There’s more than one way to
destroy America’s white
middle class!
middle class!
HSBC laundered hundreds of
millions and perhaps billions of dollars for drug cartels responsible
for the deaths of tens of thousands of people over the past
two decades. The bank transferred at least $881 million of known drug
trafficking proceeds, including money from the Sinaloa Cartel in Mexico, which is known for
dismembering its victims and publicly displaying their body parts.
CUT MEDICAID AND SOCIAL SECURITY TO FINANCE TAX CUTS FOR THE SUPER RICH!
OBAMA-CLINTON-TRUMPERnomics: America’s Road to REVOLUTION
….. but will they finish off the American middle-class first???
“The Tax Policy Center finds that for the top 0.1 percent of income earners—those making more than $3.75 million annually—repealing this investment tax would amount to an average tax cut of $165,090.”
Trump tax cuts: A bonanza for corporations and the wealthy
By Patrick Martin 27 April 2017
27 April 2017
The Trump administration is proposing the largest tax cut for the wealthy in American history. The plan outlined on Wednesday would transfer trillions of dollars from future tax collections into the pockets of the super-rich. Its purpose is twofold: to enrich the financial aristocracy and force the destruction of programs such as Social Security and Medicare by depriving the federal government of the revenue needed to fund them.
Secretary of the Treasury Steven Mnuchin and Gary Cohn, chairman of Trump’s National Economic Council, issued a one-page statement of principles at a White House press conference Wednesday afternoon, where they gave only a few highlights and took a handful of questions, which they largely avoided answering.
The entire exercise seemed rushed. Press accounts suggest that the tax plan was thrown together in haste in response to mounting criticism from Wall Street, particularly in the wake of the abortive attempt to repeal Obamacare, that the administration was failing to live up to its commitments to carry out a major transfer of wealth from working people to the multi-millionaires.
That said, the press conference Wednesday did give a glimpse of the naked personal greed that is a major driving force of American capitalist politics. Mnuchin and Cohn could scarcely control their excitement over what Cohn called a “once in a generation opportunity” to transform the tax code. The two former Goldman Sachs bankers, each worth more than half a billion dollars, spelled out the main features of a plan that will add to their own immense wealth.
Among the main measures that will benefit those in the highest income brackets are:
* Abolishing the estate tax, so that the wealthy can pass on their fortunes intact
* Abolishing the Alternative Minimum Tax (AMT), established in response to widespread tax evasion by the wealthy
* Cutting the tax rate for business profits taken as personal income (so-called “pass-through” income) from 39.6 percent to 15 percent
* Cutting the top income tax rate from 39.6 percent to 35 percent
* Ending the capital gains tax surcharge of 3.8 percent for Obamacare
Many of these measures will benefit President Trump personally, particularly the abolition of the AMT. According to Trump’s leaked 2005 partial tax return, he paid $38 million in income tax that year, rather than $5 million, because of the AMT. He also takes much of his real estate investment income in the form of “pass throughs,” for which the rate would be cut by more than half.
Abolishing the estate tax, which currently applies only to fortunes of $5 million or more, would allow Trump to pass on his billions to his five children without them paying a penny. The same applies to Cohn (net worth $610 million) and Mnuchin (net worth $500 million).
The tax bonanza for corporate America is even greater than that for wealthy individuals. The biggest single proposed cut is the reduction in the corporate income tax rate from 35 percent to 15 percent, at an estimated cost of $2.4 trillion over the next ten years. In 2018 alone this action would cut the tax bill for corporations from $340 billion to $125 billion, a direct injection of $215 billion onto their bottom line. The bulk of those funds would be returned to wealthy shareholders via stock buybacks and dividends.
Added to that is the proposed change in the taxation of US-based global corporations through the establishment of a “territorial” tax system, in which only income earned by the corporation within the United States would be subject to corporate income tax. Given the ability of corporations to manipulate the flow of income, there will be a renewed incentive to record income in overseas tax havens rather than in the US, and thus escape taxation altogether.
This would be coupled with a one-time incentive for corporations to repatriate profits being held in offshore accounts. The rate at which these profits are taxed could be set as low as 5 percent, a huge boondoggle for a handful of corporations, including Apple and General Electric, which are holding trillions of dollars overseas.
The business tax cuts are expected to win support from many congressional Democrats, who will verbally oppose the reduction to a 15 percent rate for corporate income, but trumpet a cut to 18 or 20 percent as an acceptable “compromise” forced on Trump by their supposedly determined resistance.
The Obama administration had previously proposed a reduction in the corporate income tax rate from 35 percent to 28 percent, and 25 percent for manufacturers—a windfall of “only” $100 billion a year—while Senate Minority Leader Charles Schumer is the co-author of a bipartisan plan to “incentivize” the repatriation of overseas profits through a tax holiday for the corporations involved.
Ahead of Wednesday’s announcement, Schumer struck a pose of opposition, declaring on the Senate floor, “That’s not tax reform… That’s just a tax giveaway to the very, very wealthy that will explode the deficit.”
The last phrase is the key. Opposition from Democrats, and some Republicans, will focus on the fiscal impact of the tax cuts. To the extent that tax cuts are enacted—and they are virtually certain to pass in some form—there will be bipartisan demands that the cost of the handout to the wealthy be “paid for” through cuts in spending. These cuts will not be made in the gargantuan Pentagon budget, which will be increased, but rather in so-called entitlements such as Social Security, Medicare and Medicaid, the most expensive domestic social programs.
This perspective was spelled out by the Washington Post in an editorial published on the eve of the tax plan’s release, bemoaning the effect of the tax cuts on the federal deficit without mentioning the issue of economic inequality and the plundering of the country for the benefit of the super-rich. The editorial concluded, “For eight years, Republicans mercilessly attacked President Barack Obama for doing too little to cut federal deficits. Will they really turn around now and approve a budget-busting tax cut?”
The tax plan outlined Wednesday includes a number of provisions that will affect middle-income taxpayers, both positively and negatively. The net result cannot be seriously calculated because so many details remain undetermined.
Cohn said the White House is proposing to double the standard income tax deduction to $24,000 for a married couple. This would be offset by the elimination of the tax deduction for employer-paid health insurance and for payment of state and local taxes.
Lower income workers would gain nothing from the increased standard deduction, since they generally pay little or nothing in income taxes and are far more affected by payroll taxes for Medicare and Social Security, which would be unchanged under the Trump plan.
Cohn and Mnuchin described the tax plan outlined Wednesday as an “opening bid,” preparatory to lengthy negotiations between the White House and Congress. There are two possible legislative tracks—a bipartisan deal, which would require the support of at least eight Senate Democrats to overcome any filibuster, or passage under a procedure known as “reconciliation,” which requires only a simple majority but limits the duration of the tax cuts to a ten-year period.
AMERICA STUDENTS STARVE:
Report on the impact of OBAMA-CLINTONOMICS-TRUMPERNOMICS
THE SWAMP DWELLERS:
GLOBAL LOOTING of the POOR
TRUMP and FAMILY, BILL, HILLARY & CHELSEA
CLINTON, MICHELLE AND “HOPE & CHANGE”
PSYCHOPATH MUSLIM BARACK OBAMA!
Will they finish off America as they serve themselves and the super rich???
THE IMPACT OF TRUMPERnomics AND THE MASSIVE
TRANSFER OF WEALTH TO THE SUPER RICH
AMERICA: One paycheck and two illegals away from homelessness.
"The economists found that the pre-tax share of national income received by the
bottom half of the US population has been cut nearly in half since 1980, from 20
percent to 12 percent, while the income share of the top one percent has nearly
doubled, from 12 percent to 20 percent."
THE
FINAL DAYS OF BILLARY & HILLARY:
GLOBAL
LOOTERS OF THE POOR
“Clinton is finished. She is never going to become the American
Messalina.”
“But if she shows any sign of weakness, her cronies will
begin to desert her, those she trampled on and harmed will seek payback, and
the authorities will at last stir themselves to look into things. The current
investigations will continue and expand. Others will be opened. Clinton can
look forward to an old age spent in courthouses and committee rooms. She will
end up as one of those Mafia dons slumped in a wheelchair while the lawyers
attempt to generate sympathy. And that’s fine. She has earned the most Hellenic
of punishments.”
MEDICAID SLASHED!
TRUMPERNOMICS: IMPLEMENTING SEVERE
OBAMA-CLINTONOMICS TO SERVE THE SUPER RICH!
“The Republican proposal builds on the
core features of Obamacare, designed to boost the profits of the private
insurers and slash health care costs for the government and big business.”
“The lifetime costs of Social Security and Medicare
benefits of illegal immigrant beneficiaries of President Obama’s executive amnesty
would be well over a trillion dollars, according to Heritage Foundation expert Robert
Rector’s prepared testimony for a House panel obtained in advance by Breitbart
News.”
No comments:
Post a Comment