#Corporate Tax Rate Cut

[thashining]

[nationallawreview]

Post Election – Expect Tax Legislation

I. Introduction With clear Republican victories in the White House and the Senate, and a very slim majority for either side in the House of Representatives, we can expect tax legislation in the coming year. It is expected that the President elect will likely seek to enact his economic agenda as quickly as possible. While Congress may work for bipartisan support of any such legislation,…

[in-sightjournal]

Ask A Genius 1076: The Stock Market Crashing, the "Kamala Crash"

Rick Rosner: Before the stock market even opened, I reminded people that Trump owned most of the 20 worst point drops, percentage drops, and one-day drops in the history of the Dow Jones. This inspired lots of back-and-forth between liberals and MAGAs. But the whole story is this: the stock market did pretty well during the first three years of Trump’s presidency. He had 126 all-time highs on the…

[randyite]

[robertreich]

10 Worst Things About The Trump Presidency

Donald Trump left office with the lowest approval rating of any president ever. But some people now seem to be suffering from amnesia.

Let me jog your memory. Here are 10 Worst Things About the Trump Presidency — in no particular order.

#1. Trump fueled division and sparked a record uptick in hate crimes.

#2. Murder went way up under Trump. He presided over the largest ever single-year increase in homicides in 2020. A number of factors might have contributed to that, but a big one is…

#3. Gun sales broke records under Trump, who has bragged about how he “did nothing” to restrict guns as president in spite of…

#4. Under Trump, America suffered more than 1,700 mass shootings.

#5. Trump said there were "very fine people" among the neo-Nazis in Charlottesville.

I’m halfway to ten. If you think I’m missing something big, leave it in the comments.

#6. Trump allied himself with the Proud Boys, a violent hate group who helped orchestrate the Jan 6 Capitol attack.

#7. Trump’s not wrong when he says…

TRUMP: I got rid of Roe v. Wade.

It is entirely because of Trump’s judicial appointments that 1 in 3 American women of childbearing age now lives in states with abortion bans.

#8. One of Trump’s Supreme Court justices was Brett Kavanaugh, a man accused of sexual assault by multiple women.

#9. Trump’s White House interfered in the FBI’s investigation of Brett Kavanaugh’s alleged sexual assaults.

And now: #10. Trump has been convicted of committing 34 felonies while in office. The criminally false business filings he got convicted for in New York? All of them were committed while he was president.

I’m sorry, did I say the 10 Worst Things About the Trump Presidency? I meant 15.

#11. Trump’s failed pandemic response is estimated to have led to hundreds of thousands of needless deaths. By the time Trump left office, roughly 3,000 Americans were dying of covid every day. That’s a 9/11-scale mass casualty event every single day. How did Trump screw up so badly?

#12. Trump’s White House discarded the pandemic response playbook that had been assembled by the Obama administration.

#13. Trump disbanded the National Security Council’s pandemic response team.

#14. Trump repeatedly lied about the danger of covid, saying it was no worse than the flu or that it would go away on its own.

But behind closed doors, Trump admitted he knew covid was deadly.

#15. Trump promoted fake covid cures like hydroxychloroquine and even injecting people with disinfectants.

After Trump’s “disinfectant” remarks, poison control centers received a spike in emergency calls.

That’s fifteen things. Should I keep going? Ok, I’ll keep going. The 20 Worst Things About the Trump Presidency.

#16. Trump presided over a net loss of 2.9 million American jobs — the worst recorded jobs numbers of any U.S. president in history.

#17. Trump profited off the presidency, making an estimated $160 million from foreign countries while he was president.

#18. Trump also billed the Secret Service over $1 million for the privilege of staying at his golf clubs and other properties while they protected him. That’s your money!

#19. Trump caused the longest government shutdown in U.S. history when he didn’t get funding for his border wall, which he said Mexico was going to pay for.  

#20. Under Trump, the national debt increased by about 40% — more than in any other four-year presidential term — largely because of his tax cuts for the rich and big corporations.

You didn’t really think I was stopping at 20, did you? We’re going to 25 —

#21. Trump separated more than 5,000 children from their parents at the border, with no plan to ever reunite them, putting babies in cages.

#22. The Muslim Ban. Yes, Trump really did try to ban Muslims from entering the country.

#23. Trump sparked international outrage by moving the American Embassy in Israel to Jerusalem while closing the U.S. mission to Palestine.

#24. Trump tasked his son-in-law Jared Kushner with drafting a potential Middle East “peace plan” with zero Palestinian input.

#25. And finally, Trump recognized Israel’s occupation of the Goh-lahn Heights, which is considered illegal under international law.

So there you have it, folks: The 25 Worst — Wait a minute. Wait a minute. Did I mention the impeachments? We’ve got to do the impeachments. Let’s go to 30.

#26. Trump broke the law by trying to withhold nearly $400 million of U.S. aid for Ukraine in an effort to extort a personal political favor from Ukraine’s Pres. Zelensky. Trump wanted Zelensky to interfere in the 2020 election by announcing an investigation into the Bidens. Delaying this aid to Ukraine weakened Ukraine and strengthened Russia.

#27. Trump personally attacked and ruined the careers of everyone who stood in the way of his illegal Ukraine scheme, including Ambassador Marie Yovanovitch and Lt. Colonel Alexander Vindman.

#28. To cover up the scheme, Trump ordered the White House and State Department to defy congressional subpoenas.

#29. For these reasons, on December 18, 2019, Trump became the third U.S. president to be impeached. He was charged with Abuse of Power and Obstruction of Congress.

#30. Even while he was being investigated for trying to get Ukraine to interfere in the U.S. election, Trump publicly called for China to interfere in the election.

So those are the 30 Worst Things —

I’ll go to 35.

#31. Long before Election Day, Trump started making false claims that the election would be rigged.

#32. After losing, Trump falsely claimed the election was stolen, even though his own inner circle, including his campaign manager, White House lawyers, and his own Justice Department and attorney general told him it was not.

#33. Trump kept telling his Big Lie even after more than 60 legal challenges to the election were struck down in court, many by Trump-appointed judges.

#34. Trump ordered the Department of Justice to falsely claim that the election “was corrupt.”

#35. Trump and his allies used threats to pressure state leaders in Arizona and Georgia to falsify the election results.

We may go to 40.

#36. When none of the previous schemes worked, Trump and his allies produced fake electoral votes cast by fake electors in multiple swing states. His former White House chief of staff and Rudy Giuliani are among the many members of his inner circle who have been criminally indicted for this scheme.

#37. Trump tried to bully Vice President Pence into obstructing the certification of the election.

#38. Trump invited a mob to the Capitol on Jan 6 with his “be there, will be wild” tweet.

#39. Sworn testimony alleges that when Trump was warned that members of the crowd were carrying deadly weapons, he ordered security metal detectors to be taken down.

#40. Knowing the crowd had deadly weapons, he ordered them to go to the Capitol and…

TRUMP: …fight like hell.

#41 — Yes, yes, I know, bear with me.

Trump betrayed his oath to defend the nation by doing nothing to stop the Jan 6 violence. Instead, according to witness testimony, he sat and watched TV for hours.

#42. On January 13, 2021, Trump became the only president ever to be impeached twice. This time he was charged with incitement of insurrection. It was a bipartisan vote.

#43. The majority of senators — 57 out of 100 — voted to convict Trump, including 7 Republican senators.

So that’s the two impeachments and the Big Lie, but wait, we haven’t dealt with Russia, right? So we’re going to 50.

#44. In a likely obstruction of justice, Trump pressured then FBI Director James Comey to stop the FBI’s investigation into Trump’s National Security Adviser, Michael Flynn. This was documented in the Mueller report.

#45. When Comey didn’t bend to Trump’s will, Trump fired him.

#46. Trump tried to shut down the Mueller investigation by ordering White House Counsel Don McGann to fire Mueller. McGann refused because that would be criminal obstruction of justice.

#47. When news got out that Trump tried to fire Mueller, Trump repeatedly told McGann to lie — to Mueller, to press, to public — and even create a false document to conceal Trump’s attempt to fire Mueller.

#48. Trump ordered his staff not to turn over emails showing Don Jr. had set up a meeting at Trump Tower before the 2016 election with representatives of the Russian government.

#49. Trump convinced Michael Cohen to lie to Congress about Trump’s plans to build a Trump Tower in Moscow, and Cohen served prison time for lying to Congress.

#50. Trump was not charged for criminal obstruction of justice because it’s the Justice Department’s policy not to indict a sitting president, but more than a thousand former federal prosecutors who served under both Republicans and Democrats, signed a letter declaring there was more than enough evidence to prosecute Trump.

So those are the 50 Worst Things About the Trump Presidency. Now I could go on…

And I will! The 75 Worst Things About the Trump Presidency.

#51. Trump said he’d hire only the best people, but…

His campaign chair was convicted of multiple crimes.

So was one of his closest associates.

His deputy campaign chair pleaded guilty to crimes.

So did his personal lawyer

His National Security Adviser

The Chief Financial Officer of his business

A campaign foreign policy adviser

And one of his campaign fundraisers.

They all committed crimes, and Trump pardoned most of them.

#52. Trump said he’d drain the Washington swamp. But he appointed more billionaires, CEOs, and Wall Street moguls to his administration than any administration in history

#53. Trump intervened to get his son-in-law, Jared Kushner top-secret clearance after he was denied over concerns about foreign influence.

#54. Trump hosted a Russian Foreign Minister to the Oval Office, where Trump revealed top-secret intelligence.

Oh, and Trump’s economic policies!

#55 Trump promised that the average American family would see a $4,000 pay raise because of his tax cuts for the wealthy and big corporations. How’d that work out? Did you get a $4,000 raise? Of course not! Nobody did!

#56. Trump vowed to protect American jobs, but offshoring increased and manufacturing fell.

#57. Trump said he would fix America’s infrastructure, but it never happened. He announced so many failed “infrastructure weeks” they became a running joke.

#58. Trump said he would be “the voice” of American workers, but he filled the National Labor Relations Board with anti-union flacks who made it harder for workers to unionize.

#59. Trump’s Labor Department made it easier for bosses to get out of paying workers overtime, which cheated 8 million workers of extra pay.

#60. Trump repeatedly suggested he might serve more than two terms in violation of the Constitution — and continues to do so.

#61. Trump called Haiti and African nations “shithole” countries.

#62. Trump tried to terminate DACA, which protects immigrants brought to the U.S. as children. Luckily this was struck down by the courts.

#63. Trump called climate change a “hoax.”

#64. Trump pulled out of the Paris Climate Agreement.

#65. Trump rolled back more than 100 environmental protections.

#66. Every budget Trump proposed included cuts to Social Security and Medicare.

#67. Trump tried (and failed) to repeal the Affordable Care Act, which would have resulted in 20 million Americans losing insurance. And striking down the ACA’s protections for the roughly 130 million people with pre-existing conditions could have driven up their insurance premiums or led to a loss of coverage.

#68. Trump made it easier for employers to remove birth control coverage from insurance plans.

#69. By the end of Trump’s term, the number of people lacking health insurance had risen by 3 million.

#70. Trump lied. Constantly. He made 30,573 false or misleading claims while president — an average of 21 a day, according to Washington Post fact-checkers.

#71. Trump allegedly took hundreds of classified documents on his way out of the White House, reportedly including nuclear secrets, which he then left unsecured in various parts of Mar-a-Lago, including a bathroom. He was even caught on tape showing them off to people.

#72. Trump seriously discussed the idea of nuking a hurricane.

#73. When Hurricane Maria hit Puerto Rico, Trump delayed $20 billion of aid and allowed Puerto Rico to be without power for 181 days.

#74. Trump suggested withholding federal aid for California wildfire recovery and said the solution was to “clean” the “floors” of the forest.

#75. Trump pulled out of the Iran deal, placing Iran on a path to developing nuclear weapons.

Honestly, there’s so much more, from exchanging “love letters” with North Korea’s brutal dictator to publicly denigrating a Gold Star military widow and making her cry, to the way he attacked journalists, to late night tweet binges.

Look, I can understand why a lot of people want to block all of this out of their memories. But we cannot afford to forget just how terrible Trump’s time in the White House was for this nation.

And we sure as hell can’t afford to put him back there.

[liberalsarecool]

Objectively speaking: Democrats lowered inflation. Current monthly rate is 0%.

The US has the stongest economy and best recovery from 2020 Trump COVID catastrophe.

MAGA/GOP can never let their voters know Democrats are delivering on policy.

Corporate media looking for fascist tax cuts are all too ready to report MAGA point of view.

[afloweroutofstone]

Would love to hear more about your personal take on Walz, if you feel like it.

He's the most progressive of the Boring White Guys who were on Harris' shortlist for VP. To be fair, he's not actually that progressive himself— his record in congress was quite moderate, and he's generally seen as being more moderate than the Democrats in the Minnesota state legislature. But this image as a Normie Democrat can actually pair quite well with his record of progressive accomplishments in office. The stuff he's signed into law while governor has been absolutely incredible, arguably enough to make him the best governor in the country right now (even if the hard work behind most of these reforms came from state legislators to his left).

This is the gubernatorial record that Walz can run on: protecting abortion rights, universal school meals, guaranteed paid leave, legalizing weed, a plan for 100% renewable energy, banning LGBTQ conversion therapy, free college for families earning less than $80,000, automatic voter registration, increasing spending for public schools, universal gun background checks, expanding public transit, strengthening workers' rights, improving infrastructure, new public housing, (underwhelming) police reform, banning non-compete agreements, a strong child tax credit, and more. To compare, Harris' other top choice was a guy who compared pro-Palestine protesters to the KKK, likes charter schools, and wants to cut his state's corporate tax rates. You can see why progressives are happy with Walz as the outcome.

Also Walz does seem to have an electable personality IMO, what little I've seen of him makes him look like a good messenger. VP picks don't really matter that much, but he seems like a good choice if they're looking for someone to wipe the floor with Vance in the debate.

[dostoyevsky-official]

this a view of someone who's ignored european developments since 2007, opting for a rosy, outdated view of european politics, i.e. the exact type of american committing the exact type of mistake i'm warning about.

to address this point by point: not only has inflation been a global issue, but the US has consistently enjoyed the lowest inflation of any developed economy. american CPI has remained below the british, polish, and eurozone average numbers. european economies have to deal with fallout from the russian invasion of ukraine that the us can ignore: notably, in energy prices, as the US became self-sufficient in energy (and never imported any from russia to begin with, something squeezing the german economy). america is also not hosting millions of ukrainian refugees.

when discussing european instutions—and "europe" in general—one has to be more specific. do you mean the overarching institutions of the EU, criticized for a democratic deficit that many have pinpointed as one source for euro-skepticism and the rise of the far right? the EU Council, widely ignored and headed by charles michel, an incompetent, blatant nepobaby appointment whom everyone grinds their teeth over? the EU parliament, recently filled with a fresh batch of far-right hooligans, which functions more or less as a rubber stamp for the commission? the EU commission itself, headed by VdL, the latest in a string of failed local politician commissioners (who remembers the alcoholic swindler juncker?) masquerading as technocrats? the ECB, which smothers the monetary (and through the maastricht criteria, the fiscal) policy of eurozone members, thereby fueling resentment, far-right movements, and economic disparity? and all of this held hostage by the veto of one orban or fico, —or the german supreme court, when it decides it's had enough with public investment. those institutions, which remain so opaque that even educated americans—and europeans—aren't entirely aware of their function?

or do we mean the institutions of individual countries, ranging from undemocratic autocracies like hungary to the fief of the jupiter king, who called elections in june, lost them, refused to nominate a prime minister from the winning coalition, didn't name any for over a month, and then appointed a rightwing politician from a party that scored dead last, sidestepping his own centrist party? the UK, where sir keir is handing out five years in jail time to climate protesters, raising tuition fees, relying on private investment companies, and through rachel reeves' plan to fix the alleged budget hole left by hunt before further investment, again enacting austerity? this is all front-page headline news from the last half year.

european countries indeed have cheaper healthcare costs, better pensions, and other public goods that the united states does not. when considering "quality of life," remember, however, that most european countries have unemployment rates considered astronomic in america, especially for under-35s:

to focus again and again on european social democracy is to ignore that it has been steadily eroded since the end of the cold war and especially since the great recession by neoliberal political forces that crush the left and open the door for the far right. in the most blatant example, beside's macron's legislative politricks, the IMF-ECB-EC troika cut off euro cash liquidity flow to greece when syriza was trying to undo austerity under varoufakis. the greek collapse consigned a generation to economic failure, killed seniors, and curtailed possibilities for the youth. this erosion happened even in the nordic model, long imagined by americans as nothing short of a utopia:

In part due to the scrapping of wealth and inheritance taxes and a lower corporate tax than both the U.S. and European averages, Sweden has one of the most unequal distributions of wealth in the world today: on a level with Bahrain and Oman, and worse than the United States. Perhaps most dispiriting for Sanders, Sweden also now hosts the highest proportion of billionaires per capita in the world. Many of the country’s trademark social services are now provided by private firms. Its private schools even benefit from the same level of state subsidy as public schools—a voucher system far more radical than anything in the United States and that Democratic politicians would be crucified for advocating. Both here and there, right-leaning commentators in 2020 decried Sanders’s portrait as little more than what Johan Norberg, Swedish author of The Capitalist Manifesto, has called a 1970s “pipedream.” On this, Swedish observers on the left gloomily agree: despite official rhetoric, the “Nordic welfare model” is now more nostalgic myth than reality. (x)

to problematize further, there's an unadressed first world perspective: who's getting the good quality of life, why are the main economies of the EU so wealthy, and how does the EU continue to enrich itself? there are certainly many living outdoors today, drowning in the mediterranean, or dying of exposure in białowieża. fortress europe is a crime against humanity—and it doesn't beat back the far right. it weakens civic and human rights, undermines legal oversight, and criminalizes humanitarian engagement, allowing an authoritarian creep.

you shouldn't understand the political and the historical as a snapshot in time, but as a moving train. this is the state of europe today. all of the above is necessarily a simplification and an abbreviation, but there's a trajectory you can begin to trace out: given all of the above, where do you think europe is headed?

[chewwytwee]

Conservatives love to spend eternity wailing about how public school is a failed system not properly teaching kids and leeching taxpayer money. They apparently think the same thing as leftists, that public schools are not up to par and the system of public school is failing many students. Leftists solution to the problem is bolstering funding for public education to make it easier to access, make educational programs more rigorous and remove growth based benchmarks because they make it *easier* for kids to fail out, add higher taxes to corporations to make up this tax burden because the fact that corpos make so much capital off society means they owe it to everyone to put money back in the pot. Their (donald trumps) solution to that problem is redirecting public school funds to other (private and religious) schools which further dilutes already sparse funding to public schools, makes it legal to take out loans meant for college education for K-12 education, protects 'childrens' right to choose a school 'the child' wants to go to. So their master plan is to give funds to private schools which are teaching the 'right' things to students, then have parents make up the difference with loans, that's the ideal scenario for them because they just want to be able to not send their kid to school. They don't care about the neglect and abuse and poverty that public education serves to monitor and curtail, they don't care what the world looked like before public school and standard education because they think they know better than fucking anyone else. ANYONE. They just KNOW deep down that english and chemistry and literature and algebra and geometry and history and music and biology and woodworking and extracurriculars and a diverse peer group aren't *actually* what kids need, they KNOW that kids need corporal punishment and mechanic skills and if that happened it would solve all of societys ilks (because everything was super awesome in the 50s, remember!).

I have never wanted to randomly dm my shitty conservative relatives more than now. I know you could never convince them of anything, but when you actually engage with their ideas its just.... nothing like there's nothing to it besides gut instinct and faith. How could anyone possibly be conservative?

[lady-raziel]

Somewhere, in another timeline...Bernie Sanders is finishing out his second term as president.

(a coping-method scenario)

Back in 2016, the Democratic Party saw that denying his appeal and pushing forward with Hillary Clinton would be catastrophic—she didn’t have the appeal, and pushing forward another historic first right after Obama might galvanize the right wing further into feeling that America was no longer “for them.” The potential risk was too great in radicalizing that bloc, and as strange as it seemed, Bernie was the safer choice. He faces Donald Trump in the general election—and many pundits decry the sad state of today’s politics, where the only choices are a “socialist kook” or a reality television star. Trump’s odd mannerisms and morally questionable behavior, however, manage to turn off enough people that they’d rather not vote at all. After careful consideration, the Democrats do decide to take a chance on a female VP running mate (after all, the Republicans had set precedent with Sarah Palin in 2008)-- Senator Amy Klobuchar gets tapped to balance the ticket. With the slightly lower voter turnout on the right, and the left energized with a surging youth vote, Bernie Sanders becomes the 45th president of the United States, and America gets its first female VP with Amy Klobuchar.

Trump, who had honestly never intended on winning anyway, uses the loss as planned to claim fraud and launch his own cable streaming channel- TNN, Trump News Nation- intended as a rival to Fox News. He repeatedly tries to sue over the “stolen” election—this had all been intended to make sorely needed funds for his hemorrhaging business ventures after all. TNN draws massive ratings on launch, but as the months go by, views trickle off as watchers grow exhausted of hearing about politics through the context of Trump’s own grievances. Most filter back to Fox News, where at least the diet of mostly fabricated nonsense and conspiracy theories are varied. TNN’s most viewed show is a variation on the Apprentice, where contestants compete to gain Donald’s political endorsement and “mentorship.” None of the winning show contestants ever end up winning their political races. By 2018, viewership is minimal and stagnant, any ad revenue has dried up, and TNN shutters its doors. Trump moves on to his next failed business grift, fading from public relevance only to be occasionally remembered as “that time a reality tv personality ran for president…can you believe that happened?” American politics forgets him as another failed presidential candidate, and the GOP moves on, reexamining their strategy after losing to a Democrat once again.

Bernie’s presidency isn’t all sunshine and roses. The young progressives who voted him in find themselves frustrated with the lack of sudden progressive changes he’s actually able to make due to the constraints of the presidency—one still needs to work with Congress, after all. And Washington doesn’t exactly warm up to the formerly Independent senator with a leftist bent quickly. But landmark bipartisan legislation on climate change that includes concessions to congressional Republicans on taxes proves to be very successful. Despite controversy on some of the legislation's corporate tax restructuring (part of Republican demands), the tax cuts and benefits for the vast majority of Americans have appeal to even those who questioned the value of climate change measures.

By the 2020 election, Bernie’s favorability is substantial, in addition to a boost from quick action in tackling a small, ultimately containable new virus. Regardless, Bernie is able to leverage providing funds for vaccine research to help contain and prevent future outbreaks to drug companies, in exchange for negotiating price caps on certain drugs. The combined result is more than enough to hand him a win in 2020 against Ted Cruz—who’s off-putting “serial killer vibes” and right-leaning deep Texas persona prove to be buzzkills for the GOP’s attempt at leaning right as a rebrand.

The fields for both parties are packed in the 2024 primaries—but ultimately Senator Cory Booker clenches the Democratic nomination, and the Republicans take a chance on Representative Liz Cheney, hoping that the combination of the Cheney name and a female candidate a la the Sarah Palin gambit will be what’s needed to turn their losing streak around. It’s a tight race, in the end—pundits pontificate on how “polarized” the nation has become, as rhetoric flies about the Cheney legacy and calling Liz everything from a warmonger to “the worst candidate America has ever seen who will do serious damage to the heart of the nation.” Voters on the left debate the potential of the first female president vs rehashed talking points from the Bush era and the legacy of wars in the Middle East.

The pick of Booker by the Democratic establishment, who are fairly eager to regain control over the nomination process and candidate selection after having to cede control and allow Bernie's candidacy last time, ultimately reflects that the party and elites have not learned the lesson 2016 should have impressed upon them. Instead of allowing the voters interests to shape the primaries, they continue to wield control and painstakingly fixate over the specific demographics of candidates, trying to find the right "mix" that they think moderate voters will "tolerate." Booker, despite his accomplishments, is ultimately the victim of this, as he doesn't have the revolutionary appeal of Obama, despite frequently being painted as "Obama 2.0." The Democrats fail once again to learn that what voters truly care about is not a candidate fitting certain demographic boxes, but the strength of their ideas and narrative.

Ultimately, the voters go with Liz Cheney, who historically becomes the first female president of the United States. Republicans are jubilant at taking back the White House (and that they were able to claim a historic first and deny Democrats the honor-- not that they'd say it outright, since they'd sought to strike a contrast between running Cheney just as a candidate and not as a woman). Despite the outcome of the election, it's unclear whether the Democratic establishment finally learns that lesson-- or retreats into itself pointing fingers and throwing blame at "not picking a female and losing credibility as the party of progress." Rumors had been flying that Hillary was going to try again—ultimately turning out to be false (but perhaps not entirely untrue-- she had been approached and was considering it). Some Democrats point out that "progress" should be expressed through innovative and progressive policies that will APPEAL to different demographics, instead of ignoring stagnant policies to focus on demographics alone...time will tell if their voices are heard.

As for Joe Biden, one of the longstanding members of the political sphere, after serving as Obama's VP, he retires to his home in Delaware, only occasionally being seen at major political events here and there. The largest amount of attention he gets is a moment in 2021 that spawns many, many memes-- a viral video is captured of Biden enjoying an ice cream when it falls to the floor, at which point the former VP stares at the melting cone and declares "I'm Dark Brandon." No one has any clue what he's talking about, and it's written off as just another "Uncle Joe" gaffe. Other than that, not much is heard from Biden. People do say, however, that occasionally the man stares off into the distance with a far-off look of horror, as if he is somewhere else entirely...and witnessing something awful.

As Cheney is sworn in as president, the progressive corners of the internet mourn, citing the actions of Dick Cheney and decrying that this new administration might be "the death of democracy." A viral Tweet (yes, TWEET) with millions of likes reads "bruh this has to be the darkest timeline, there's no way this could be any worse 😫"

(If only they really knew...)

[phoenixyfriend]

me, shaking people: the economy is more simple than economists make it out to be but it is still more complicated than you think, please stop thinking Trump will 'fix' prices. every proposal I've seen from his campaign will increase prices, with only the very slight possibility that gas might drop in response to Trump relaxing pressure on Russia and giving Putin the go-ahead to kill hundreds of thousands of Ukrainians. Even that's unlikely, because Biden had all oil production in the US pushed to max in order to combat rising gas prices after Russia and the Middle East started trying to do a price squeeze on the rest of the world.

Deportation of migrants will increase food costs.

Increased tariffs will increase the costs of goods that we primarily get from the targeted countries.

Removal of further FDA regulations will result in higher rates of infection of the masses, meaning more healthcare bills, and every time a recall happens, any money the producer saved with cutting corners will be lost to the recall, meaning your prices still go up.

Deregulation of corporate mergers will result in monopolies that, again, raise your prices.

Continuation of the 2017 tax cuts to the wealthy will continue to incentivize higher taxes on the lower and middle class, as the tariffs will not be enough to cover that hole in the budget, even with the proposed budget cuts to things like Social Security and the EPA.

Trump is not good for the economy, unless you happen to be Elon Musk, Jeff Bezos, or Warren Buffet.

[simply-ivanka]

The Harris Plan to Lower Your Wages

The Vice President wants to raise the corporate tax rate from 21% to 28%, which will ultimately be paid by workers.

By The Editorial Board

Wall Street Journal

The Democratic team that brought you declining real wages is now threatening to lower your pay again. That’s the practical effect of Kamala Harris’s idea to raise the U.S. corporate tax rate to 28%, and it’s instructive that an anti-growth tax increase is one of the Vice President’s few distinctive policy priorities so far.

Ms. Harris’s endorsement Monday of a 28% rate, up from the current 21%, signs onto what President Biden has been proposing. A Harris campaign spokesperson told the press the idea is “a fiscally responsible way to put money back in the pockets of working people and ensure billionaires and big corporations pay their fair share.”

That statement wouldn’t survive a polygraph on the economics. President Trump and Congressional Republicans in 2017 lowered the corporate rate from 35%, which was among the highest in the world at the time.

U.S. companies during the Obama Administration often moved their headquarters to lower tax climes such as Ireland to avoid the high U.S. tax rate that made them less globally competitive. The Business Roundtable estimates that some $2.5 trillion in income earned abroad returned to the U.S. as a result of Mr. Trump’s 2017 reform.

Ms. Harris pitches her 28% rate as merely punishing big companies, but economists of all stripes agree that U.S. workers pay for higher corporate taxes in lower wages. The corporate rate cut contributed to the strong pre-Covid U.S. economy in 2018 and 2019 with growing wages that many voters say they miss.

The current U.S. corporate rate is above 25% when state corporate taxes are included, and the Harris increase would again make the U.S. a world outlier at above 30%. The OECD statutory average is a little north of 23%, and the European Union’s is lower at roughly 21%, according to the Tax Foundation. The average in Asia? About 19%.

The next President will put his or her mark on America’s global competitiveness when many of the 2017 tax cuts expire in 2025, and on this score voters are getting a clear choice. Mr. Trump has suggested lowering the corporate rate to 15%. He can make this part of a larger theme of faster growth and rising incomes if he explains to voters what Ms. Harris’s tax increase means for average workers.

[justinspoliticalcorner]

Craig Harrington at MMFA:

The economic policy provisions outlined by Project 2025 — the extreme right-wing agenda for the next Republican administration — are overwhelmingly catered toward benefiting wealthier Americans and corporate interests at the expense of average workers and taxpayers. Project 2025 prioritizes redoubling Republican efforts to expand “trickle-down” tax cuts for the wealthy and deregulation across the economy. The authors of the effort’s policy book, Mandate for Leadership: A Conservative Promise, recommend putting key government agencies responsible for oversight of large sectors of the economy under direct right-wing political control and empowering those agencies to prioritize right-wing agendas in dealing with everything from consumer protections to organized labor activity. [...]

Project 2025 would chill labor unions' abilities to engage in political activity. Project 2025 suggests that the National Labor Relations Board change its enforcement priorities regarding what it describes as unions using “members' resources on left-wing culture-war issues.” The authors encourage allowing employees to accuse union leadership of violating their “duty of fair representation” by having “political conflicts of interest” if the union engages in political activity that the employee disagrees with. [Project 2025, Mandate for Leadership, 2023; National Labor Relations Board, accessed 7/8/24]

Project 2025 would make it easier for employers to classify workers as “independent contractors.” The authors recommended reinstating policies governing the classification of independent contractors that the NLRB implemented during the Trump administration. Those Trump-era NLRB regulations were amended in 2023, expanding workplace and labor organizing protections to previously exempt American workers. [Project 2025, Mandate for Leadership, 2023; The National Law Review, 6/19/23; National Labor Relations Board, 6/13/23]

Project 2025 would reduce base overtime pay for workers. The authors recommend changing overtime protections to remove nonwage compensatory and other workplace benefits from calculations of their “regular” pay rate, which forms the basis for overtime formulations. If that change is enacted, every worker currently given overtime protections could be subject to a slight reduction in the value of their overtime pay, which the authors claim will encourage employers to provide nonwage benefits but would effectively just amount to a pay cut. The authors also propose other changes to the way overtime is calculated and enforced, which could result in reduced compensation for workers. Overtime protections have long been a focus of right-wing media campaigns to reduce protections afforded to American workers. [Project 2025, Mandate for Leadership, 2023, Media Matters, 7/9/24]

Project 2025 proposes capping and phasing out visa programs for migrant workers. Project 2025’s authors propose capping and eventually eliminating the H-2A and H-2B temporary work visa programs, which are available for seasonal agricultural and nonagricultural workers, respectively. Even the Project 2025 authors admit that these proposals could threaten many businesses that rely on migrant workers and could result in higher prices for consumers. [Project 2025, Mandate for Leadership, 2023]

Project 2025 recommends institutionalizing the “Judeo-Christian tradition” of the Sabbath. Under the guise of creating a “communal day of rest,” Project 2025 includes a policy proposal amending the Fair Labor Standards Act to require paying workers who currently receive overtime protections “time and a half for hours worked on the Sabbath,” which it said “would default to Sunday.” Ostensibly a policy that increases wages, the proposal is specifically meant to disincentivize employers from providing services on Sundays as an explicitly religious overture. [Project 2025, Mandate for Leadership, 2023]

[...]

International Trade

Project 2025 contains a lengthy debate between diametrically opposed perspectives on international trade and commerce.Over the course of 31 pages, disgraced former Trump adviser and current federal inmate Peter Navarro outlines various proposals to fundamentally transform American international commercial and domestic industrial policy in opposition to China, primarily by using tariffs. He dedicates well over a dozen pages to obsessing over America’s trade deficit with China, even though Trump’s trade war with China was a failure and as he focused on China, the overall U.S. trade deficit exploded. Much of the rest of Navarro’s section is economic saber-rattling against “Communist China’s economic aggression and quest for world domination.”In response, Kent Lassman of the conservative Competitive Enterprise Institute promotes a return to free trade orthodoxy that was previously pursued by the Republican Party but has fallen out of favor during the Trump era.

The Heritage Foundation’s Project 2025 agenda would be a boon for the wealthy and a disaster for the working class folk.

See Also:

MMFA: Project 2025’s dystopian approach to taxes

[robertreich]

Trump’s Tax Scam: Why Nothing Trickled Down 

The Trump tax cuts were a YUGE scam.

But this November we have a chance to end this trickle-down hoax once and for all.

Donald Trump’s biggest legislative achievement (if you want to even call it that) was the 2017 Tax Cuts and Jobs Act.

The law permanently slashed corporate taxes and temporarily cut income tax rates mostly for rich individuals through the year 2025. The results were worse than I could have imagined.

Trump and his officials claimed the tax cuts would lead to corporations hiring more workers and would “very conservatively” lead to a $4,000 boost in household incomes.

What actually happened in the years since?

In AT&T’s case, the company saw its overall federal tax bill drop by 81%. It spent 31 times more on dividends and stock buybacks to enrich wealthy shareholders than it paid it in taxes. Meanwhile, it slashed over 40,000 jobs.

That was par for the course with Trump’s tax cuts.

Like AT&T, America’s biggest corporations didn’t use their tax savings to increase productivity or reward workers. Instead, they increased their stock buybacks and dividends.

Many of them, including AT&T, even ended up paying their executives more in some years than what they paid Uncle Sam.    

Those executives (along with other high earners) then got to keep more of their earnings because Trump’s tax cuts for individuals were heavily skewed toward the rich. The lowest earners? They got squat.

And many middle-income families saw their taxes go up.

And those supposed $4,000 raises, did you get one?

The bottom line is that Trump’s tax law fueled a massive transfer of wealth into the hands of the rich and powerful. Corporate profits have skyrocketed. U.S. billionaire wealth has more than DOUBLED since 2018.

The tax cuts have also added $2 trillion to the national debt so far, but that hasn’t stopped Trump and the so-called “party of fiscal responsibility” from doubling down on renewing them.

If Trump is reelected and Republicans take control of Congress, they’re planning to renew the expiring tax cuts for individuals that primarily benefited the rich. This would cost $4.6 trillion over the next decade, more than double the cost of the original tax cuts.

Trump has also threatened to lower the corporate tax rate even further from 21% to 15% — which would cost another $1 trillion.

It’s trickle-down economics on steroids.

All of this would cause the federal deficit and debt to soar — which Republicans will then use as an excuse to cut spending on government programs the rest of us rely on.

But the Democrats have their own tax plan. We can make it a reality this November. What would it do? Just the opposite of Trump’s tax plan.

ONE: It would increase taxes on wealthy individuals with incomes in excess of $400,000 a year, while cutting taxes for lower-income Americans.

TWO: It would make billionaires pay at least 25 percent of their incomes in taxes, still leaving them with plenty left over.

THREE: It would raise the corporate income tax to 28 percent, which is about what it was in 1990.

LASTLY, it would quadruple the tax on stock buybacks to get corporations to invest more of their earnings in workers’ wages and productivity instead of windfalls for investors.

So the real choice is between the Republicans’ plan to make the rich much richer, and the Democrats’ plan to make the rich pay their fair share and provide what Americans need.

Which do you want?

[mothgardens]

I am so genuinely upset that Trump won.

I started this election undecided because of the household I grew up in. I was uneducated, but I wanted to make the right decision. So, I informed myself on every topic I could.

Now that I am educated, I don’t understand why anyone would vote for Trump. My mother did, she tells me that it’s because of his reputation in the economy. But, we are on his tax plan, and it doesnt end until 2025. Republicans voted against border regulations, that Kamala tried to place, bc of his alleged influence. Trump wants to cut rates for the 1% and large corporation-businesses. He doesn’t believe in abortion. He exploited christianity to gain votes after announcing on more than one occasion that he is not a christian. He is for himself and the rich; He is not for the people.

I’m so afraid of what the hell is going to happen now, and I hate that. It shouldn’t be like this. I hope that I’m wrong and that it really was all just propaganda, but I don’t have hope in that. I had in hope in Kamala. I had hope for change.

wtf is america

stay safe <3 stay alive. we can make four years. my dms are open.