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Pronk Pops Show 1000, November 13, 2017

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Story 1: Radical Islamic Suicide Bomber Failure in Port Authority Bus Terminal Subway Station — Videos —

TERRORIST ATTACK NEW YORK Shows PIPE BOMB Malfunctions & Explodes ISIS Man Wearing A Suicide Vest

Explosion at New York bus terminal ( 2017 bomb terrorist attack underattack )

Pipe Bomb of Peace: Bangladesh Strikes New York City Subway During Morning Rush Hour

New York explosion suspect identified

New York City subway bomb attack details released by officials

Report: NYC bomb suspect a Brooklyn resident

Explosion Takes Place Near New York City Port Authority | TODAY

Suicide bomber strikes New York City at rush hour

 

 

 

 

An ISIS-inspired would-be suicide bomber set off a homemade explosive device at the Port Authority Bus Terminal subway station Monday morning, seriously wounding himself and injuring three others, law enforcement sources said.

The man — a 27-year-old Brooklyn man identified by high ranking police sources as Akayed Ullah — had wires attached to him and a 5-inch metal pipe bomb and battery pack strapped to his midsection as he walked through the Manhattan transit hub.

The man partially detonated the device, which he was carrying under the right side of his jacket, prematurely inside the passageway to the A, C and E trains at Eighth Avenue and West 42nd Street around 7:40 a.m., sources said.

Police quickly took the man into custody.

Former NYPD Commissioner Bill Bratton told MSNBC’s “Morning Joe” that the man was inspired by ISIS and possibly born in Bangladesh.

Bratton, who said the man had been living in the US for seven years, “was supposedly setting the device off in the name of ISIS.”

“So, definitely a terrorist attack, definitely intended,” Bratton said.

Akayed Ullah

 

 

 

 

 

 

 

 

 

The man, who suffered the most serious injuries, was taken to Bellevue Hospital.

Three others suffered non-life-threatening injuries, police said. One person was taken to St. Lukes-Roosevelt Hospital, another to Mount Sinai and another person was treated at the scene, officials said.

Investigators briefly spoke to the alleged bomber, who told them he made the explosive device at the electrical company where he works.

Emergency personnel flooded the scene following the incident.

Mayor Bill de Blasio has been briefed on the incident.

The incident sent commuters into a frenzy.

A 911 caller, who would only identify herself as Carmen, told The Post: “I didn’t see anything, I just heard an explosion and I ran out like everyone did to look for the nearest exit.”

“I had like a panic attack, I couldn’t breathe. My stomach started hurting,” the witness said. “I’m doing better — I’m just trying to catch a train to go back home to College Point.”

Designer Chelsea LaSalle tweeted: “holy f–k. just was stuck in a running stampede at port authority bus terminal due to bomb scare. cops EVERYWHERE.”

LaSalle followed up her tweet with another that read: “not a scare. actual explosion moments before i was about to get on the subway.”

Commuter Keith Woodfin tweeted: “I was exiting the Port Authority and the National Guard was running towards something shouting ‘Go, Go, Go.’”

The FBI’s Joint Terrorism Task Force also is investigating the incident.

All MTA trains were bypassing Port Authority-42nd Street as police investigated the incident.

All New Jersey Transit buses were not stopping at Port Authority. NY Waterway was also running extra ferries.

Additional reporting by Lorena Mongelli and Max Jaeger

https://nypost.com/2017/12/11/explosion-reported-at-port-authority-bus-terminal/

Botched Suicide Bombing Jolts New York Rush Hour, Injures Four

Police say 27-year-old Akayed Ullah detonated a low-tech explosive device near the Port Authority Bus Terminal


Trains bypassed the Times Square and Bryant Park stops after a failed bomb attempt. The platform where the 1,2,3 trains usually stop at Times Square was empty during rush hour.
Police respond to a report of an explosion near Times Square on Monday morning in New York. Police said the suspect was a Bangladeshi man, identified as 27-year-old Akayed Ullah, who tried to set off an explosive device he was wearing near the transit hub. He has been placed in custody.
Authorities investigate the explosion at the Port Authority. John Miller, the NYPD’s deputy commissioner for intelligence and counterterrorism, described the device the suspect used as a pipe bomb.
Helicopters hover over the Port Authority Bus Terminal. Police recovered surveillance video of the incident. “It could’ve been much, much worse,” an official said.
New York Gov. Andrew Cuomo, center, and New York City Mayor Bill de Blasio speak at a news conference as police respond to a reported explosion at the Port Authority Bus Terminal. “This was an attempted terrorist attack,” Mr. de Blasio said. “All we know is one individual who was thank god unsuccessful in his aims.”
A New York Fire Department vehicle arrives at the Port Authority. Fire Department commissioner Dan Nigro said the suspect detonated the explosive device, causing burns to his hands and abdomen. Three civilians in proximity of the explosion suffered minor injuries.
Police at Port Authority Bus Terminal watch as people evacuate after the explosion near the facility. By midmorning, some subway service remained suspended.
The explosion disrupted thousands of commuters at the Port Authority terminal during the morning rush hour. Multiple subway lines were evacuated, and the Port Authority of New York and New Jersey closed the entire Port Authority bus station temporarily.
Akayed Ullah, a Bangladeshi man who attempted to detonate a homemade bomb, is seen in this handout photo. The New York City Taxi &amp; Limousine Commission confirmed that Mr. Ullah was licensed to drive a black or livery car from March 2012 to March 2015. The license lapsed in 2015 and wasn’t renewed, according to a TLC spokesman. Although Mr. Ullah obtained a license, he may never have actually worked as a driver, the spokesman said.<br>
Police respond to a report of an explosion near Times Square on Monday morning in New York. Police said the suspect was a Bangladeshi man, identified as 27-year-old Akayed Ullah, who tried to set off an explosive device he was wearing near the transit hub. He has been placed in custody.
CHARLES ZOELLER/ASSOCIATED PRESS
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A bomber tried to set off an explosive device he had strapped to his body near one of New York City’s busiest transit hubs in an attempted terrorist attack that injured three bystanders, authorities said.

The suspect—a Bangladeshi immigrant identified as 27-year-old Akayed Ullah—was quickly apprehended and was transported to Bellevue Hospital for burns to his hands and abdomen, according to police and fire officials. Three civilians in proximity of the explosion suffered minor injuries and were treated at local hospitals, officials said.

“This was an attempted terrorist attack,” New York City Mayor Bill de Blasio told reporters. There are no other known incidents or specific threats to NYC, but there will be an expanded police presence, he said.

 New York Gov. Cuomo described the suspect as a disgruntled “lone wolf,” who had been influenced by extremist groups online. Mr. Cuomo said the suspect downloaded information from the internet on how to make a low-tech, homemade bomb but noted that the device didn’t explode as planned.

“This is one of my worst nightmares—a terrorist attack in the subway system,” Mr. Cuomo said in an interview on CNN.

The explosion disrupted thousands of commuters during the morning rush hour. Multiple subway lines were evacuated, and the Port Authority of New York and New Jersey closed the entire bus station temporarily. Emergency personnel responded in force to the scene. By midmorning, some subway and bus service had been restored. An estimated 220,000 people pass through the transit hub each day.

“The choice of New York is for a reason. We are a beacon to the world and we actually show that a society of many faiths and many backgrounds can work,” said Mr. de Blasio. “The terrorists want to undermine that. So they yearn to attack New York City.”

“As New Yorkers our lives revolve around the subways. When we hear of an attack on the subways, it’s incredibly unsettling,” Mr. de Blasio said.

Botched Suicide Bombing in New York City Injures Four
A bomber partially detonated a home-made explosive at a Manhattan subway terminal Monday in an attempted terrorist attack. The suspect suffered severe burns and was taken into custody by the police. Photo: Twitter/@Breaking911

The suspect was walking in a crowd of commuters when the device was detonated, according to a Port Authority surveillance camera video that was confirmed by a federal law-enforcement official. The incident occurred around 7:20 a.m. ET while the suspect was walking eastbound in the underground corridor under 42nd Street, between Seventh and Eighth avenues, according to police. After the detonation, the suspect is surrounded in smoke, before dropping to the ground, based on the video footage.

But the device—which authorities described as a pipe bomb that was affixed to the suspect with Velcro and zip ties—only partially detonated, limiting the damage, according to officials. Mr. Cuomo said the explosive chemical in the bomb went off as planned, but the pipe didn’t explode.

When police officers arrived on the scene, they saw wires trailing between Mr. Ullah’s jacket and pants, according to a law-enforcement official. When they searched him, they found that he was carrying a nine-volt battery.

“It could’ve been much, much worse,” the official said. Police have recovered surveillance video of the incident.

Chelsea LaSalle, a 28-year-old graphic designer, was in Port Authority heading into the A, C, E subway when she heard screaming and more than 30 people started rushing at her.

Busy StationsFive busiest subway stations in New York City, by average weekday ridershipTHE WALL STREET JOURNALSource: Metropolitan Transportation Authority
42nd St. (Times Sq./PortAuthority)Grand CentralHerald SquareUnion SquarePenn Station (1, 2, 3)0 riders100,000200,00025,00050,00075,000125,000150,000175,000225,000

“People were screaming ‘Get out, get out’ and some were yelling ‘Bomb!’” she said.

Ms. LaSalle said everyone was running as fast as they could and pushed past her. “People wanted to get out and didn’t care what was in their way,” she said. “A lot of people looked really worried. Some people looked more confused than anything else.”

Hanan Kolko, a 57-year-old labor lawyer who lives in Montclair, N.J., said his NJ Transit bus from Clifton to the Port Authority crawled slowly through the Lincoln Tunnel. It took him 2 hours and 20 minutes to get to work, more than double the usual commute.

When his bus arrived around 9:40 a.m., he saw scores of law enforcement officers in the terminal, and his group was ushered out the Ninth Avenue exit because the Eighth Avenue side was blocked off.

“It was eerie because the Port Authority was empty except for people being escorted out,” he said. “It was a moment when I was proud to be a New Yorker,” he said. “We were going to carry on our day, regardless of whether some guy tried to plant a bomb. Law enforcement did a great job, and we got to go on and do our thing.”

In Washington, the Federal Bureau of Investigation said it was aware of the explosion in New York and coordinating with the New York City Police Department. The investigation into the incident is being led by the Joint Terrorism Task Force, a law enforcement group formed in 1980 that includes members of the NYPD and the FBI. The attack came just weeks after an ISIS-influenced immigrant from Uzbekistan drove a rented truck down a Manhattan bike lane killing eight others and injuring 12 more.

Terrorist Attacks in the U.S. After 9/11

Here’s a look at Islamist-related deadly assaults across the country since the Sept. 11, 2001, attacks, as compiled by the CATO Institute.


2000
2010
2020
July 4, 2002

An Egyptian man opens fire at the El Al Israel Airlines ticket counter at Los Angeles International Airport, killing two people before he was shot dead by an airline guard. PHOTO: KRISTA NILES/ASSOCIATED PRESS

A gunman kills one woman and wounds five others at the Jewish Federation of Greater Seattle.PHOTO: KEVIN P. CASEY/ASSOCIATED PRESS

A U.S.-born self-described jihad warrior shoots two soldiers, one fatally, outside an Army recruiting station in Arkansas.

Army psychiatrist Maj. Nidal Malik Hasan opens fire at Fort Hood, Texas, killing 13 people and wounding more than 30 others.PHOTO: DONNA MCWILLIAM/ASSOCIATED PRESS

Two crude bombs explode near the finish line of the Boston Marathon, killing three people and injuring more than 175. Bomber, and older brother, Tamerlan Tsarnaev, is killed in a shootout with police; younger brother Dzhokhar is later captured alive.PHOTO: THE BOSTON GLOBE/GETTY IMAGES

College student Brendan Tevlin is shot eight times while waiting at a traffic light in New Jersey. Authorities find links to three earlier killings in Seattle—of 30-year-old Leroy Henderson, shot 10 times and left to die on a road on April 27, and Ahmed Said and Dwone Anderson-Young, killed outside a gay club on June 1—and charge Ali Muhammad Brown with all four.
John Bailey Clarke of North Carolina, 74 years old, is shot three times by a teenage neighbor who had converted online to Islam three months earlier and would plead guilty both to state murder charges and to federal charges of planning a terrorist act.
A 24-year-old Kuwaiti-born man opens fire at two military facilities in Tennessee, killing four Marines and a sailor and injuring three other people before dying from a gunshot wound.

Pakistani immigrant Tashfeen Malik, who had just pledged allegiance to the leader of Islamic State, and her American-born husband open fire on an office party in San Bernardino, Calif., killing 14 people and wounding 21. PHOTO: DAVID BAUMAN/PRESS-ENTERPRISE/ZUMA PRESS

Omar Mateen kills 49 people and wounds 53 more at Orlando gay nightclub Pulse before police fatally shoot him after an hourslong standoff.PHOTO: PHELEN M. EBENHACK/ASSOCIATED PRESS

A Denver transit guard is shot and killed; the man charged with the murder tells the Associated Press he had pledged his allegiance to Islamic State.

Eight people are killed and at least a dozen injured when a truck mows down pedestrians and cyclists on a lower Manhattan bike path.PHOTO: ANDREW KELLY/REUTERS

A Bangladeshi man tried to set off an explosive device he was wearing near New York City’s Port Authority Bus Terminal and Times Square. Three civilians in proximity of the explosion were injured.PHOTO: BRYAN R. SMITH/AGENCE FRANCE-PRESSE/GETTY IMAGES

Source: CATO Institute

Mr. Ullah has been living in the U.S. for seven years and had worked as a driver for a car service, officials said. He has been residing in a two-story colonial home on a tree-lined block in Old Mill Basin, Brooklyn, a multiethnic neighborhood. His block was cordoned off Monday morning as groups of New York Police Department officers milled outside the home.

Alan Butrico, who owns the house next door to Mr. Ullah’s home, described the suspect as “unfriendly.” Mr. Butrico, who also owns a hardware store on the corner of the block, said Mr. Ullah never said hello and “would have an attitude” if he was asked to move his car because it was blocking the neighboring driveway.

Mr. Butrico’s cousin, Ross Faillace, who runs a part-time car detailing shop in the back of Mr. Butrico’s property, said of Mr. Ullah: “He was always on edge.”

Both men said that Mr. Ullah was usually clean cut and wore regular clothes, but that lately Mr. Ullah had grown a beard.

Kisslya Joseph of Grenada has been staying with her brother who lives next door to Mr. Ullah. “This has shaken me up and my family because it’s like you never know who your neighbor is,” Ms. Joseph said.

https://www.wsj.com/articles/explosion-reported-at-new-yorks-port-authority-1512997695

New York City explosion: Live updates

What you should know

  • What happened: A man wearing a homemade device set it off at Port Authority bus terminal near Times Square.
  • The suspect: Police named 27-year-old Akayed Ullah. He is of Bangladeshi descent and lives in Brooklyn.
  • Injuries: Four people, including the suspect, were injured. None of those injuries are life-threatening, according to FDNY.

Suspect pledged allegiance to ISIS

From CNN’s Brynn Gingras

While talking with authorities, Port Authority bus terminal explosion suspect Akayed Ullah pledged allegiance to ISIS, according to one law enforcement official with direct knowledge of the investigation. Authorities now have to investigate that claim.

Ullah most recently did electrical work close to Port Authority along with his brother. That brother lives in the same apartment building as Ullah, according to law enforcement.

As part of the normal course of an investigation, authorities want to speak with the brother and other family members.

Another law enforcement source tells CNN that screws were found at the scene.

December 11, 2017 2:54pm EST

The Bangladesh Embassy in Washington DC condemned today’s terror attack in New York City.

Suspect Akayed Ullah, 27, is a lawful permanent resident from Bangladesh, who arrived in the US in 2011.

Here’s the embassy’s statement:

“Government of Bangladesh is committed to its declared policy of ‘Zero Tolerance’ against terrorism, and condemns terrorism and violent extremism in all forms or manifestations anywhere in the world, including Monday morning’s incident in New York City.”

A terrorist is a terrorist irrespective of his or her ethnicity or religion, and must be brought to justice.

Homeland Security: “We urge the public to remain vigilant”

Secretary of Homeland Security Kirstjen Nielsen, in the job for less than a week, is in touch with New York City Mayor Bill de Blasio and local officials about this morning’s attack, the department said in a statement.

“The Department of Homeland Security is taking appropriate action to protect our people and our country in the wake of today’s attempted terrorist attack in New York City,” the statement read.

“We will continue to assist New York authorities with the response and investigation and we urge the public to remain vigilant and report any suspicious activity.”

 

Story 2: Fabricated Trump Dossier Was Opposition Research/Russian Disinformation — Democratic Party and Obama Administration Used Fabricated Trump Dossier To Justify Spying on Americans and Opposition Republican Party Using Intelligence Community — Conspiracy Not Collusion — Federal Crimes — A New Special Counsel Should Investigate Together With DOJ and FBI Investigations of Clinton Charitable Foundation, Email Server and Mishandling of Classified Documents — Videos —

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Demoted top DoJ official Bruce Ohr’s wife worked for Fusion GPS of dossier fame

Jay Sekulow calls for a second special counsel

Jordan: We need to depose Peter Strzok, talk to Bruce Ohr

Congressman Jim Jordan Sends CNN Anchor Packing During a Heated Conversation

Robert Mueller Finally CONFESSES to What He Did To The FBI and Why He Did It

Rep. Jim Jordan To Jeff Sessions: Appoint New Special Counsel Or Step Down

Proof: The Deep State & Bruce Ohr Orchestrated The Dossier! Dick Morris TV: Lunch ALERT!

BUSTED: DOJ & FBI Had Long Relationship With Dossier Authors! Dick Morris TV: Lunch ALERT!

Should Hillary Be Worried About Uranium One? Yes!

Clinton Probe Given ‘Special’ Status By FBI – Uranium One – Ingraham Angle

New Revelations By FBI Informant Fueling Questions Over Uranium One – Russia Wants Total Control

“The Clinton Collapse” Tucker Bids EPIC Farewell to the Clinton Dynasty

Why Russia Wants to Control the World’s Uranium Supply

Russia-Uranium One deal: Is it a real scandal?

Peter Schweizer on the significance of the Uranium One deal

Gorka: Uranium One scandal is absolutely massive

Trump Actually Telling The Truth About Clinton-Russia Uranium Scandal?

Ben Shapiro – What Exactly Happened With Uranium One

Comey hid the uranium deal from Congress: Gregg Jarrett

Clinton Was Bribed TWICE In Uranium Deal! !Dick Morris TV: Lunch ALERT!

Mueller’s Russiagate Prosecution Is Imploding Before His Eyes While DOJ and FBI Scandals Metastasize

Judge Napolitano EXPOSES something HUGE on Hillary Clinton investigations

Hannity Connects ALL the Dots in Mueller’s Trump-Russia Investigation

Judge Napolitano: Enough evidence to prosecute Clinton for espionage

Special counsel needed to probe DOJ-Fusion GPS?

Rep. Jim Jordan reacts to FBI Director Wray hearing

Gaetz Demands FBI Director Explain “Special” Treatment of Clinton During Investigation – 12/7/17

Jim Jordan: Robert Mueller ‘Inherently Compromised’

New allegations of bias dog Mueller Russia probe

Gingrich: Investigators need to be questioned under oath

Gingrich: Appalling level of FBI corruption coming to light

Judicial Watch Dir says no chance FBI will root out corruption in their ranks

Trey Gowdy Unleashes His Anger On New FBI Director

FBI director defends agency amid allegations of political bias

Trump legal team calls for new special counsel

Anatomy of the FBI’s alleged Clinton cover-up

Trey Gowdy Confronts Loretta Lynch! “Did You Send Classified Info on A Personal Email Like Hillary?”

Napolitano: ‘Lynch Should be Under a Criminal Investigation’

Judge Napolitano on AG Lynch’s secret NSA deal

Napolitano on bias at the FBI, obstruction of justice debate

FBI agent operated as a Clinton mole: Michelle Malkin

Robert Ray on FBI agent removed from Mueller investigation over texts

Why weren’t Hillary Clinton staffers investigated for lying to FBI?

Rep. Jordan presses Jeff Sessions to appoint special counsel

WOW: Trey Gowdy to AG Jeff Sessions: Its NOT Appropriate for Trump to speaks on a Open Investigation

Watch What Trey Gowdy Has To Say On Jeff Sessions Hearing Today 11/14/2017

BREAKING: FBI Official Unloads On Hillary Clinton This Is Devastating(VIDEO)!!!

The FBI Just Blew The Hillary Clinton Case Wide Open She Could Literally Be Going to Jail!!

Trey Gowdy Votes To Appoint A Second Special Counsel To Investigate James Comey And Hillary Clinton

Russian Uranium Bribery Scandal Reaches Bill Clinton! Dick Morris TV: Lunch ALERT!

Uranium One

From Wikipedia, the free encyclopedia
Uranium One Inc.
Industry Mining
Founded 2005
Headquarters Toronto, OntarioCanada
Key people
Chris Sattler (CEO)
Vadim Zhivov (President)
Products Uranium
Gold
Number of employees
2,220[1]
Parent Rosatom
Website www.uranium1.com

Uranium One is a Canadian uranium mining company with headquarters in Toronto, Ontario. It has operations in AustraliaCanadaKazakhstanSouth Africa and the United States. In January 2013 Rosatom, the Russian state-owned uranium monopoly, through its subsidiary ARMZ Uranium Holding, purchased the company at a value of $1.3 billion.[2] The purchase of the company by Russian interests is, as of October 2017, under investigation by the United States House Permanent Select Committee on Intelligence.

History

On July 5, 2005, Southern Cross Resources Inc. and Aflease Gold and Uranium Resources Ltd announced that they would be merging under the name SXR Uranium One Inc.[3]

In 2007 Uranium One acquired a controlling interest in UrAsia Energy,[4] a Canadian firm with headquarters in Vancouver from Frank Giustra.[5] UrAsia has interests in rich uranium operations in Kazakhstan,[6] and UrAsia Energy’s acquisition of its Kazakhstan uranium interests from Kazatomprom followed a trip to Almaty in 2005 by Giustra and former U.S. President Bill Clinton where they met with Nursultan Nazarbayev, the leader of Kazakhstan. Substantial contributions to the Clinton Foundation by Giustra followed,[5][7] with Clinton, Giustra, and Mexican telecommunications billionaire Carlos Slim in 2007 establishing the Clinton Foundation’s Clinton Giustra Sustainable Growth Initiative to combat poverty in the developing world.[8] In addition to his initial contribution of $100 million Giustra pledged to contribute half of his future earnings from mining to the initiative.[8]

In June 2009, the Russian uranium mining company ARMZ Uranium Holding Co. (ARMZ), a part of Rosatom, acquired 16.6% of shares in Uranium One in exchange for a 50% interest in the Karatau uranium mining project, a joint venture with Kazatomprom.[9] In June 2010, Uranium One acquired 50% and 49% respective interests in southern Kazakhstan-based Akbastau and Zarechnoye uranium mines from ARMZ. In exchange, ARMZ increased its stake in Uranium One to 51%. The acquisition resulted in a 60% annual production increase at Uranium One, from approximately 10 million to 16 million lb.[10][11] The deal was subject to anti-trust and other conditions and was not finalized until the companies received Kazakh regulatory approvals, approval under Canadian investment law, clearance by the US Committee on Foreign Investments, and approvals from both the Toronto and Johannesburg stock exchanges. The deal was finalized by the end of 2010.[11] Uranium One’s extraction rights in the U.S. amounted to 0.2% of the world’s uranium production.[12]Uranium One paid its minority shareholders a dividend of 1.06 US Dollars per share at the end of 2010.[citation needed]

ARMZ took complete control of Uranium One in January 2013 by buying all shares it did not already own.[2] In October 2013, Uranium One Inc. became a private company and a wholly owned indirect subsidiary of Rosatom.[3][13] From 2012 to 2014, an unspecified amount of Uranium was reportedly exported to Canada via a Kentucky-based trucking firm with an existing export license; most of the processed uranium was returned to the U.S., with approximately 25% going to Western Europe and Japan.[14][15]

Congressional investigation

Since uranium is considered a strategic asset with national security implications, the acquisition of Uranium One by Rosatom was reviewed by the Committee on Foreign Investment in the United States (CFIUS), a committee of nine government agencies including the United States Department of State, which was then headed by Hillary Clinton.[16][17][18] The voting members of the committee can object to such a foreign transaction, but the final decision then rests with the president.[19]

In April 2015, The New York Times wrote that, during the acquisition, the family foundation of Uranium One’s chairman made $2.35 million in donations to the Clinton Foundation. The donations were legal but not publicly disclosed by the Clinton Foundation, despite an agreement with the White House to disclose all contributors.[20] In addition, a Russian investment bank with ties to the Kremlin and which was promoting Uranium One stock paid Bill Clinton $500,000 for a speech in Moscow shortly after the acquisition was announced.[17][18] Several members of Clinton’s State Department staff and officials from the Obama-era Department of Justice have said that CFIUS reviews are handled by civil servants and that it would be unlikely that Clinton would have had more than nominal involvement in her department’s signing off on the acquisition.[21] According to Snopes, the timing of donations might have been questionable if Hillary Clinton had played a key role in approving the deal, but all evidence suggests that she did not and may in fact have had no role in approving the deal at all.[22]

In October 2017, following a report by John F. Solomon and Alison Spann published in The Hill and citing anonymous sources,[23][24] the United States House Permanent Select Committee on Intelligence opened an investigation into the circumstances surrounding the sale of Uranium One.[21]

FactCheck.org reported that there was “no evidence” connecting the Uranium One–Rosatom merger deal with a money laundering and bribery case involving a different Rosatom subsidiary which resulted in the conviction of a Russian individual in 2015, contrary to what is implied in the Solomon-Spann story.[20][25] Glenn Kessler of The Washington Post wrote that the problem with some of the accusations that Republican commentators levied against Clinton is that she “by all accounts, did not participate in any discussions regarding the Uranium One sale.”[26]

In October 2017, President Trump directed the U.S. Department of Justice (DOJ) to lift a “gag order” it had placed on a former FBI informant involved the investigation. The DOJ released the informant from his nondisclosure agreement on October 25, 2017,[27][28][29]authorizing him to provide the leaders of the Senate Judiciary Committee, House Oversight Committee, and the House Permanent Select Committee on Intelligence “any information or documents he has concerning alleged corruption or bribery involving transactions in the uranium market” involving Rosatom, its subsidiaries Tenex and Uranium One, and the Clinton Foundation.[30]

During a C-SPAN interview, Hillary Clinton said that any allegations that she was bribed to approve the Uranium One deal were “baloney”.[31]

See also

References

https://en.wikipedia.org/wiki/Uranium_One

 

Journalism for rent’: Inside the secretive firm behind the Trump dossier

 December 11 at 12:50 PM
8:20
Fusion GPS founder explains why he started the research firm

Glenn Simpson, founder of Fusion GPS, spoke at the 2016 Double Exposure Investigative Film Festival and Symposium, an event conducted by 100Reporters.

Fusion GPS bills itself as a corporate research firm, but in many ways it operates with the secrecy of a spy agency. No sign marks its headquarters above a coffee shop in Northwest Washington. Its website consists of two sentences and an email address. Its client list is closely held.

The small firm has been under intense public scrutiny for producing the 35-page document known as the Trump dossier. Senior executives summoned to testify before Congress in October invoked their Fifth Amendment right against self-incrimination, and the firm is resisting a congressional subpoena for bank records that would reveal who has paid for its services.

But hundreds of internal company documents obtained by The Washington Post reveal how Fusion, a firm led by former journalists, has used investigative reporting techniques and media connections to advance the interests of an eclectic range of clients on Wall Street, in Silicon Valley and in the nation’s capital. The firm has played an unseen role in stories that dominated headlines in recent years.

In the years before it produced the dossier, records show, Fusion worked to blunt aggressive reporting on the medical-device company Theranos, which was later found to have problems with its novel blood-testing technology. It was also hired to ward off scrutiny of the nutritional supplement company Herbalife, which ultimately paid $200 million to distributors to settle claims by regulators.

In another case, the firm sought to expose what it called “slimy dealings” by a competitor of a San Francisco museum proposed by filmmaker and “Star Wars” director George Lucas. And it dug up information about domestic disputes involving a former mayor of Beverly Hills, Calif., as part of an investigation into a proposed real estate development that the mayor supported.

Fusion’s other past research targets, documents show, included tech giants Google and Amazon; 2012 presidential candidates Mitt Romney and Barack Obama; and Republican Sens. Ted Cruz of Texas and Bob Corker of Tennessee. (Amazon chief executive Jeffrey P. Bezos owns The Washington Post.)

Fusion assigned code names to the projects — many of them after cities in Texas and Maine — and avoided identifying its clients in internal documents, making it difficult to determine who was paying for the research. The firm also minimized its public footprints by paying outside contractors to collect public records from courthouses, police stations and federal agencies.

The Post’s review provides a glimpse at the tactics that have fueled Fusion’s rise in the growing and secretive industry of opposition research and corporate intelligence. The review represents the most comprehensive look at the firm’s work at a time when it is being examined by those who seek to gauge the veracity of the dossier, and it reveals methods that have drawn criticism from the targets of the company’s research, including President Trump.

Fusion’s work on the dossier went beyond ordinary opposition research, the kind that might explore a candidate’s past legislative history or embarrassing gaffes — known in the industry as “votes and quotes.” Instead, it paid a former British spy to compile intelligence from unnamed Russian sources.

Only a handful of internal documents obtained by The Post relate to the examination of Trump during the 2016 election, a project that was code-named “Bangor” and was financed in part by Hillary Clinton’s campaign.

Fusion declined to comment on specific cases or identify clients, but said in a statement that it is “proud of our methodology and the rigor of our research, amply demonstrated by the records cited by The Washington Post. They show what we’ve always stated: Our secret sauce is diligent and exhaustive analysis of public information.”

It continued: “The reason we are so effective is that we unearth facts that stand up to scrutiny — presumably why we are still talking about our work detailing the connections between the Trump campaign and Russia more than a year later.”

Exposing ‘slimy dealings’

Fusion founder Glenn Simpson, an accomplished former investigative reporter with expertise digging into financial crimes and corruption in Russia and elsewhere, left the Wall Street Journal in 2009 to start a research firm with Susan Schmidt, a two-time Pulitzer Prize winner from The Post. Without Schmidt, Simpson created Fusion GPS the following year, teaming up with former Wall Street Journal editor Peter Fritsch and a former Treasury official.

“I call it journalism for rent,” Simpson, 53, said in August of last year at the Double Exposure Investigative Film Festival and Symposium in the District, where he described Fusion’s work on a panel titled, “Investigations With an Agenda.”

Fusion has about 10 employees, he said. It has worked on a broad array of cases, including matters related to marijuana dispensaries, health-care workers, a state insurance official and even a Florida homeowner’s association, internal documents show.

Fusion has also quietly advocated causes and pet projects dear to wealthy and famous clients.

In April 2014, Lucas wanted to build a cultural arts museum on federal land at the foot of the Golden Gate Bridge in San Francisco, a site known as the Presidio. The museum was one of three proposals under consideration by a federal agency called the Presidio Trust.

A Fusion client — who is not identified in the documents obtained by The Post — suspected the agency was trying to block the Lucas museum, records show.

“We want to understand where this resistance is coming from and why,” Fritsch wrote in an email to his Fusion colleagues. Fritsch added that the “client would like to expose the slimy dealings” of a nonprofit competing with Lucas for the right to build on the land. The investigation was code named “Tyler.”

Ron Conway, one of Silicon Valley’s most prolific start-up investors and an outspoken supporter of the Lucas museum, was copied on subsequent emails about the cost of the research. “I don’t have any comment,” Conway said by phone when asked if he had hired Fusion.

Over the next nine months, a contractor hired by Fusion blanketed the Presidio Trust and another federal agency with dozens of requests for a range of documents related to board members and a consultant who were judging the proposals — expense reports, ethics forms, employment contracts and other records.

In February 2015, with Fusion still waiting for the documents, Conway sent an email to Fritsch with a link to a story in the San Francisco Chronicle. It was about a petition, signed by celebrities such as Hall of Fame quarterback Joe Montana and hip-hop artist MC Hammer, calling on the Presidio Trust to release some of the same records Fusion had requested.

“WE ARE OFF AND RUNNING !!” Conway wrote. Fritsch forwarded the email to other Fusion executives and said, “GLORIOUS!!!”

It’s not clear whether the effort had the desired effect. The Presidio Trust ultimately rejected all three proposals. A spokeswoman for Lucas told The Post in a statement that Lucas was “unaware of any research undertaken by Fusion GPS.” A Presidio Trust spokesman did not respond to messages from The Post seeking comment.

Fusion has at times used hardball tactics, the documents show.

Last year, Fusion’s sleuths targeted a controversial proposal for a $1.2 billion hotel and condo project in Beverly Hills, in the heart of one of the nation’s wealthiest areas, records show. The investigation was code named “Gray.”

Fusion’s client is not identified in the records reviewed by The Post, but the documents show that Fusion investigated the activities of the Chinese developer behind the project, Wanda Group, there and in other U.S. cities.

As part of its research, Fusion took aim at a vocal supporter of the Beverly Hills project, then-mayor John Mirisch, records show. Fusion sought police reports from the city related to domestic disputes involving the mayor and his ex-wife that had occurred between 2008 and 2010, records show.

Former Beverly Hills mayor John Mirisch at City Hall in August 2016. (Ricardo DeAratanha/Los Angeles Times)

When city police balked at releasing some of the police reports, a Fusion contractor sued the city. Neither the public-records requests nor the legal complaint mentions Fusion. The suit was filed by former journalist Russell Carollo, who is described in court records as a public records consultant.

Fusion executive Jason Felch, a former investigative reporter with the Los Angeles Times, emailed Carollo on July 21, 2016, with a statement he could give reporters inquiring about the lawsuit. The statement suggested that the mayor might be supporting the Wanda Group project because he owed a favor to a retired police chief who worked for a firm that was lobbying the city on behalf of the hotel, records show. The statement also argued that the public had a right to see the records involving the mayor.

Two weeks later, Carollo was quoted in the local newspaper, the Beverly Hills Courier, under a story headlined: “Pulitzer Prize-winning Journalist Petitions Court For Public Information On Mayor’s Domestic Disputes With Ex-Wife.”

In an interview, Mirisch said he had no idea that Fusion was behind the renewed scrutiny of the years-old domestic disputes. “It was dirty politics and misinformation,” said Mirisch, now a city council member.

Carollo said in an interview that he worked for Fusion and was asked by the firm to file the lawsuit. In a statement, Fusion wrote: “Our policy prohibits any employees or contractors from misrepresenting themselves as journalists or anything else.”

A spokesman for the Beverly Hills hotel project, which remains in planning stages, declined to comment. The retired police chief, Dave Snowden, said in an interview, “Hearing this, that the mayor owed me a favor, is absurd on its face.”

Behind-the-scenes player

Fusion insists that the firm does not engage in public relations work or advertise its media connections to prospective clients. But Fusion executives have interceded with former colleagues in media when their clients came under scrutiny, records and interviews show.

In mid-2015, Fusion was conducting research on two competitors of Theranos, a Silicon Valley start-up that had created buzz in the health-technology industry. Around the same time, the Wall Street Journal was pursuing its own Theranos reporting, which ultimately raised doubts about the accuracy of the company’s revolutionary lab-testing technology. Fusion, working on behalf of Theranos, tried to influence the Journal’s early reporting, according to records and interviews.

Fusion called the case “Ferris.”

A few weeks after Journal reporter John Carreyrou approached Theranos about his investigation into the company, Fritsch contacted him to create a back channel, according to documents and a person familiar with the Journal’s reporting who was not authorized to speak publicly.

Fritsch advised the reporter that his approach with Theranos up to that point had been too blunt and aggressive, and he encouraged him to soften it, the person said. Fritsch also accompanied a Theranos delegation that went to the Journal’s newsroom in June 2015 to discuss the story with Carreyrou and his editor. The delegation, made up mostly of lawyers, was headed by prominent attorney David Boies.

Over the ensuing years, Theranos — once valued at $9 billion — faced regulatory actions, including in 2016 losing its certificate to operate a blood-testing lab in California and its eligibility to receive Medicare and Medicaid payments. The company reached a settlement in April with the Centers for Medicare and Medicaid Services, agreeing not to operate a lab for two years in exchange for the restoration of its certificate.

“The Wall Street Journal published its award-winning series on Theranos despite legal threats and strenuous objections from the company and its representatives,” a spokeswoman for the paper said in a statement.

A representative of Boies’s law firm, Boies Schiller and Flexner, referred comment to Theranos. A Theranos representative declined to comment.

Fusion was also a behind-the-scenes player in a Wall Street battle between billionaire investor William Ackman and the supplement company Herbalife, records show.

Ackman had a huge financial stake in Herbalife’s fate. He had taken a short position in the company — meaning if the company failed, his investment would pay off big. Ackman held news conferences calling for regulatory and criminal investigations into Herbalife, alleging that the company’s network of distributors was effectively a pyramid scheme.

Herbalife had Fusion working on its side in a project that carried the code name “Rice,” documents show. Fusion launched investigations into Ackman and his hedge fund, Pershing Square Capital Management, according to emails and internal documents.

Herbalife’s attorney and outside publicist are copied on some emails that discussed strategy for uncovering public records that would expose whether Ackman was paying nonprofit groups to criticize Herbalife. Fusion’s contractors were looking for information that would spark government investigations into Ackman, documents show.

In June 2014, Richard Hynes, a contractor for Fusion, noted that the U.S. Securities and Exchange Commission and the New York Attorney General’s Office had previously conducted investigations that touched on Ackman, emails show.

“Nothing seems to have come from them,” he wrote. “I wonder what the SEC and NY AG DIDN’T have to make their cases. What else could we provide them this time to effect a different outcome,” he asked. Simpson soon instructed a Fusion contractor to request the SEC’s case file on closed investigations into Ackman or his firm, Pershing Square, documents show.

It was Herbalife that fell under investigation. In 2016, it agreed to a $200 million settlement with the Federal Trade Commission over allegations that it deceived buyers and sellers of its products. Herbalife did not respond to a request for comment, and Hynes did not respond to messages.

A ‘no-stones-unturned’ approach

As Fusion has been thrust into the spotlight because of the Trump dossier, it has been forced to reveal details of its operations in court proceedings.

Over objections from Democrats, the Republican leader of the House Intelligence Committee, Rep. Devin Nunes (Calif.), subpoenaed Fusion’s bank records to try to identify the then-mystery client who paid for the dossier. In October, Fusion executives invoked their constitutional right not to answer questions from the committee.

Fusion founder Glenn Simpson, left, arrives for an appearance before a closed House Intelligence Committee hearing in Washington on Nov. 14. (Associated Press)

Simpson had previously sat for a 10-hour closed-door interview with members of the Senate Judiciary Committee, which is also looking into allegations of foreign influence in the 2016 U.S. presidential election. He has also testified before the House committee behind closed doors.

For its investigation into Trump, Fusion was initially hired in the fall of 2015 by the conservative Washington Free Beacon website. The publication is backed by billionaire GOP donor Paul Singer, who was then supporting Sen. Marco Rubio (Fla.) in the GOP primary.

The Post revealed in October that Fusion was paid, via a law firm, by the Clinton campaign and the Democratic National Committee for its work on the dossier.

After Trump won the primary, Fusion approached Marc Elias, a partner at the law firm Perkins Coie who represented the Democratic Party during the 2016 election. Perkins Coie decided the party needed to go deeper than traditional, issue-oriented opposition research groups — a “no-stones-unturned approach,” according to a person familiar with the arrangement who was not authorized to speak publicly.

A spokeswoman for Perkins Coie said Trump “was unvetted by the political process — a businessman with significant real estate holdings both in the United States and around the globe, a history of litigation, financial problems and bankruptcies, and of a decidedly litigious nature,” adding that “the challenge of reviewing public-record information alone on his candidacy necessitated additional research.”

Simpson and Fritsch had worked on stories involving money laundering and Russian government officials while based in Brussels for the Journal. They knew how to pull documents around the world — a skill that had earned them work from top law firms.

“I’ve known Glenn for a long time,” said John W. Moscow, a former prosecutor and now a lawyer with the firm BakerHostetler, which hired Fusion to assist in defending the Russian company Prevezon in a civil money-laundering case. “When we need information from various parts of the world, he can go get it. We hire him on a per-case basis because he’s good.”

Earlier this year, Prevezon settled the suit, brought by the Justice Department, for $5.9 million without admitting guilt.

For its work on the dossier, Fusion hired Christopher Steele, a former British intelligence officer who had worked extensively in Russia. In a statement, Fusion said Perkins Coie paid it $1.02 million for work in 2016, and it said Fusion paid Steele’s firm, Orbis Business Intelligence, $168,000.

The dossier alleged that the Russian government had collected compromising information on Trump and that the Kremlin was trying to assist his campaign. Officials have said that the FBI has confirmed some of the information in the dossier but the most sensational details have not been verified and may never be.

As the dossier circulated among Washington journalists late last year, senior U.S. officials viewed the matter as serious enough to brief then-President-elect Donald Trump on its existence. And when BuzzFeed published the document online in early January, the dossier — particularly its more salacious claims — gripped the nation.

In recent weeks, Trump and congressional Republicans have seized on the Clinton campaign’s role in the dossier to try to discredit suggestions that his campaign colluded with Russia.

At the August conference last year, Simpson said his firm upholds strict standards developed in his years as a journalist.

“You can’t just say what you know. You have to say how you know it. And you have to be able to prove it,” he said. “That imposes a sort of discipline to the investigative process that people in other fields don’t really absorb.”

He was candid about the money involved. Explaining why he left journalism, he joked: “We don’t use the word ‘sold out.’ We use the word ‘cashed in.’ ”

Matt Zapotosky and Ellen Nakashima contributed to this report.

https://www.washingtonpost.com/investigations/journalism-for-rent-inside-the-secretive-firm-behind-the-trump-dossier/2017/12/11/8d5428d4-bd89-11e7-af84-d3e2ee4b2af1_story.html?utm_term=.dcc6a59b2320

Story 3: People of Alabama Will Elect Roy Moore on Tuesday To Fill Senate Seat Vacated By Now Attorney General Jeff Sessions — Moore Is Right On The Issues — Videos

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Roy Moore, Doug Jones and the issues: A voter’s guide to the Alabama Senate election

Things seem to be going Roy Moore’s way. President Trump endorsed him. The Republican National Committee is back to supporting him. And Moore, who has been accused of sexual contact with women when they were underaged, has led by an average of 3 percentage points in polls taken within 21 days of the Dec. 12 […] Wochit

Alabama voters will go to the polls Tuesday for the third time in four months to decide who will be the state’s junior U.S. senator.

Where the primaries — and later the GOP runoff — featured candidates who largely agreed on policy, there are notable contrasts between Democratic Senate nominee Doug Jones and Republican Senate nominee Roy Moore.

The two candidates have sharply different views on health care, the environment, and social issues. Those differences has been overshadowed as Moore has dealt with accusations — most stemming from his time as a prosecutor in Etowah County in the late 1970s and early 1980s — that he pursued relationships with teenaged girls, and engaged in conduct ranging from unwanted attention to assault.  Moore denies the allegations.

The candidates have tried — to varying degrees — to discuss other issues as well. Moore in his public appearances has gone back to the religiously conservative, anti-LGBT message that has defined his political career.

“The transgenders don’t have rights,” Moore said at a news conference in Montgomery Nov. 8, which was as of Friday his last public appearance in the county before the election. “They’ve never been denominated as having rights by the U.S. Supreme Court.”

Jones, meanwhile, has emphasized jobs and health care, in particular his support of Medicaid, Medicare and renewal of the Children’s Health Insurance Program (CHIP). In recent days, Jones has amped up his attacks on Moore over the accusations.

“I believe women are every bit as capable as men, that they deserve to be elected to public office, and I damn sure believe and have done my part to ensure that men who hurt little girls should go to jail, not to the U.S. Senate,” Jones said in remarks in Birmingham on Tuesday.

Whatever else can be said about Tuesday election, it is certain that the candidates present contrasting visions for the state of Alabama.

The candidates

Doug Jones

Age: 63

Residence: Birmingham

Party: Democratic

Family: Married; three children, two grandchildren

Profession: Attorney

Education: B.A., University of Alabama, 1975; J.D., Cumberland School of Law, 1979

Offices held/offices sought: U.S. attorney for the Northern District of Alabama, 1997-2001

ProfileThe fights of his life: Doug Jones’ journey from Fairfield to the U.S. Senate race

Finances: Despite a slow start over the summertime, Jones has pulled in more than $10 million since the start of October.

Themes: Jones has pitched a mainstream Democratic platform with an emphasis on job creation and access to health care. He has also discussed his time as U.S. attorney, in particular his prosecution of two men responsible for the bombing of the 16th Street Baptist Church in Birmingham in 1963.

Roy Moore

Age: 70

Residence: Gallant

Party: Republican

Profession: Attorney

Family: Married; four children; five grandchildren

Offices held/Offices sought: Alabama chief justice, 2013-2016 and 2001-03; Republican candidate for governor, 2010 and 2006; Etowah County circuit judge, 1992-2001; Democratic candidate for Etowah County district attorney, 1986; Democratic candidate for Etowah County circuit judge, 1982.

ProfileLife in wartime: Roy Moore fights battles – and often goes looking for them

Education: B.S., United States Military Academy, 1969; J.D., University of Alabama School of Law, 1977

Finances: Moore historically lags opponents in fundraising (even in races he’s won), and the Senate race has followed that pattern. While Moore started the general election campaign ahead of Jones overall in fundraising, he raised just $1.7 million between October and the end of November.

Themes: Although Moore has tied himself with President Donald Trump and spent time denouncing his accusers, his Senate campaign is otherwise much like previous campaigns he’s waged in the past 17 years, with strong appeals to religious conservativism and denunciations of abortion and LGBT rights.

Issues

Health care

Jones: Says health care is a right and supports the Affordable Care Act — which covered 178,000 Alabamians last winter — but says he wants to “bring both sides together” in Washington to address issues like premiums and out-of-pocket costs. Has called for renewal of the Children’s Health Insurance Program, which covers about 150,000 children in Alabama. Says he will support Medicare and Medicaid, which combined cover nearly 2 million Alabamians, in their current forms. Has been open to a public option for Medicare.

Moore: Has called for the repeal of the Affordable Care Act and the sale of health insurance policies across state lines and tax credits to businesses for employee health care coverage, while broadly calling for government to get out of health care. Has not committed to renewal of the CHIP program.

Economy and taxes

Jones: Says he supports simplification of business and corporate taxes to create jobs, but says the tax bill before Congress “can’t be a giveaway to the richest Americans paid for by working families.” Supports a “living wage” for workers, streamlining regulations and extending the Lily Ledbetter Fair Pay Act to ensure equal pay for men and women.

Moore: Says he “supports any kind of tax cut” and would replace the current progressive income tax system — where the wealthy pay a higher share of their income in taxes — with a 15 percent flat tax or a 23 percent national sales tax, offset in part by monthly stipends. Calls for cuts to the budget deficit.

Immigration

Jones: Says he supports border security and “maintaining the integrity of our borders against all threats” with “the most advanced technology possible.”  Has supported efforts to find status for those covered by the Deferred Action for Childhood Arrivals (DACA) program, also known as Dreamers, who were brought to the United States by their parents when they were children.

Moore: Says he would support a border wall if needed to address undocumented immigration, but has also called for the deployment of the U.S. military to the Mexican border. Has called DACA a “permanent evil” created by former Department of Homeland Security Secretary Janet Napolitano.

Trade

Jones: Says trade agreements should create jobs in Alabama and prevent barriers for Alabama companies for selling their goods, such as high tariffs.

Moore: Has expressed support for renegotiating the North American Free Trade and Central American Free Trade agreements (NAFTA and CAFTA) and says he supports some tariffs to address “unbalanced” trade.

Abortion

Jones: Supports abortion rights and current laws governing abortion. The Moore campaign has accused Jones of supporting “late-term abortion;” Jones has said he only supports abortion after 20 weeks in cases of medical emergency. Says the way to reduce unwanted pregnancies is “education and access to health care and contraception.”

Moore: Supports abortion restrictions and has called himself “the exact opposite” of Jones on the issue. The campaign did not respond to questions as to whether Moore supports exceptions to an abortion ban, such as rape, incest or the life of the mother.

LGBT rights

Jones: Supports same-sex marriage and LGBT rights.

Moore: Strongly opposes same-sex marriage and LGBT rights, and in a 2002 judicial opinion called homosexuality “abhorrent, immoral, detestable, a crime against nature and a violation of the law of Nature.”

Guns

Jones: Has called himself “a Second Amendment guy” and highlighted his love of hunting. Says gun laws as they stand should be enforced, but supports efforts to improve background checks, both to allow law-abiding citizens to obtain firearms and prevent criminals from getting them.

Moore: Says he believes in the Second Amendment and pulled out a gun at a rally before the Sept. 26 GOP runoff. In a summer Facebook posting, Moore said he would ensure gun rights “are never, ever infringed upon.”

Environment & energy

Jones: Says he “believes in science and that climate change is occurring.” Supports investments in renewable energy and conservation, particularly for their economic impact and says those working in the coal industry need a “safety net” of job retraining and health care benefits.

Moore: Has declined to answer questions about climate change. Website suggests an energy policy consisting of coal and oil drilling, along with “development” of nuclear, solar and wind energy.

http://www.montgomeryadvertiser.com/story/news/politics/southunionstreet/2017/12/10/roy-moore-doug-jones-and-issues-voters-guide-alabama-senate-election/934965001/

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The Pronk Pops Show 1010, December 8, 2017, Story 1: Labor Participation Rate In November 2017 Remained At 62.7% with Over 95.4 Million Not in Labor Force With 160.5 Million In Labor Force –U-3 Unemployment Rate Hit Low 4.1% and U-6 Unemployment Rate Rose To 8.0% — Total Non-farm Payroll Jobs Added 228,000 — Videos — Story 2: Corporate Tax Cut Bill Will Pass By December 22, 2017 — Definitively Not Fundamental Tax Reform For The Middle Class — Replace Income Tax System with A Single Broad Based Consumption Tax Replacing All Federal Income Based Taxes — Videos — Story 3: Defeating The Islamic State in Iraq and Syria By Bombing Them To Death — ISIS Free? — Videos

Posted on December 11, 2017. Filed under: American History, Blogroll, Bombs, Breaking News, Communications, Congress, Constitutional Law, Corruption, Countries, Cruise Missiles, Donald J. Trump, Donald Trump, Drones, Economics, Education, Elections, Empires, Employment, European History, Federal Communications Commission, Fiscal Policy, Foreign Policy, Free Trade, Freedom of Speech, Genocide, Government, Government Dependency, History, House of Representatives, Human Behavior, Illegal Immigration, Illegal Immigration, Immigration, Independence, Iraq, Islam, Israel, Killing, Knifes, Language, Law, Legal Immigration, Lying, Media, Middle East, MIssiles, National Interest, National Security Agency, Networking, News, People, Philosophy, Photos, Politics, Polls, President Trump, Raymond Thomas Pronk, Regulation, Religion, Rifles, Rule of Law, Scandals, Spying, Success, Surveillance and Spying On American People, Surveillance/Spying, Syria, Tax Policy, Taxation, Taxes, Terror, Terrorism, Trade Policy, Trump Surveillance/Spying, Turkey, Unemployment, United States of America, Videos, Violence, War, Weapons, Weather, Wisdom, Yemen | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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The Pronk Pops Show Podcasts

Pronk Pops Show 1010, December 8, 2017

Pronk Pops Show 1009, December 7, 2017

Pronk Pops Show 1008, December 1, 2017

Pronk Pops Show 1007, November 28, 2017

Pronk Pops Show 1006, November 27, 2017

Pronk Pops Show 1005, November 22, 2017

Pronk Pops Show 1004, November 21, 2017

Pronk Pops Show 1003, November 20, 2017

Pronk Pops Show 1002, November 15, 2017

Pronk Pops Show 1001, November 14, 2017 

Pronk Pops Show 1000, November 13, 2017

Pronk Pops Show 999, November 10, 2017

Pronk Pops Show 998, November 9, 2017

Pronk Pops Show 997, November 8, 2017

Pronk Pops Show 996, November 6, 2017

Pronk Pops Show 995, November 3, 2017

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Pronk Pops Show 969, September 21, 2017

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Pronk Pops Show 960, September 8, 2017

Pronk Pops Show 959, September 7, 2017

Pronk Pops Show 958, September 6, 2017

Pronk Pops Show 957, September 5, 2017

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Story 1: Labor Participation Rate In November 2017 Remained At 62.7% with Over 95.4 Million Not in Labor Force With 160.5 Million In Labor Force –U-3 Unemployment Rate Hit Low 4.1% and U-6 Unemployment Rate Rose To 8.0% — Total Non-farm Payroll Jobs Added 228,000 — Videos —

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US economy adds 228K jobs in November

Analyzing The November Jobs Report Compared To Previous Years | Velshi & Ruhle | MSNBC

U.S. economy continues its strong performance

National Economic Council Director Gary Cohn: Tax Reform Will Help Us Drive Real Wage Growth | CNBC

CNN’s Christine Romans Highlights November’s Really Good Jobs Numbers

Larry Kudlow: Jobs Report Shows We Are On Front End Of “Very, Very Strong Rebound In Manufacturing”

Panel on Strong November Jobs Report; 228K Jobs Added. #Economy #Jobs #Report #November

Stockman: Here’s Why Today’s Jobs Report Is Nothing to Celebrate

Alan Greenspan // We are about to go from stagnation to ‘stagflation’

Ep. 307: Trump Continues What He Once Called the Biggest Hoax in American Politics

The Reason Trump is President – Peter Schiff

 

Civilian Labor Force Level

160,529,000

 

Labor Force Statistics from the Current Population Survey

 

Series Id:           LNS11000000
Seasonally Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 142267(1) 142456 142434 142751 142388 142591 142278 142514 142518 142622 142962 143248
2001 143800 143701 143924 143569 143318 143357 143654 143284 143989 144086 144240 144305
2002 143883 144653 144481 144725 144938 144808 144803 145009 145552 145314 145041 145066
2003 145937(1) 146100 146022 146474 146500 147056 146485 146445 146530 146716 147000 146729
2004 146842(1) 146709 146944 146850 147065 147460 147692 147564 147415 147793 148162 148059
2005 148029(1) 148364 148391 148926 149261 149238 149432 149779 149954 150001 150065 150030
2006 150214(1) 150641 150813 150881 151069 151354 151377 151716 151662 152041 152406 152732
2007 153144(1) 152983 153051 152435 152670 153041 153054 152749 153414 153183 153835 153918
2008 154063(1) 153653 153908 153769 154303 154313 154469 154641 154570 154876 154639 154655
2009 154210(1) 154538 154133 154509 154747 154716 154502 154307 153827 153784 153878 153111
2010 153484(1) 153694 153954 154622 154091 153616 153691 154086 153975 153635 154125 153650
2011 153263(1) 153214 153376 153543 153479 153346 153288 153760 154131 153961 154128 153995
2012 154381(1) 154671 154749 154545 154866 155083 154948 154763 155160 155554 155338 155628
2013 155695(1) 155268 154990 155356 155514 155747 155669 155587 155731 154709 155328 155151
2014 155295(1) 155485 156115 155378 155559 155682 156098 156117 156100 156389 156421 156238
2015 157022(1) 156771 156781 157043 157447 156993 157125 157109 156809 157123 157358 157957
2016 158362(1) 158888 159278 158938 158510 158889 159295 159508 159830 159643 159456 159640
2017 159716(1) 160056 160201 160213 159784 160145 160494 160571 161146 160381 160529
1 : Data affected by changes in population controls.

 

Labor Force Participation Rate

62.7%

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 67.3 67.3 67.3 67.3 67.1 67.1 66.9 66.9 66.9 66.8 66.9 67.0
2001 67.2 67.1 67.2 66.9 66.7 66.7 66.8 66.5 66.8 66.7 66.7 66.7
2002 66.5 66.8 66.6 66.7 66.7 66.6 66.5 66.6 66.7 66.6 66.4 66.3
2003 66.4 66.4 66.3 66.4 66.4 66.5 66.2 66.1 66.1 66.1 66.1 65.9
2004 66.1 66.0 66.0 65.9 66.0 66.1 66.1 66.0 65.8 65.9 66.0 65.9
2005 65.8 65.9 65.9 66.1 66.1 66.1 66.1 66.2 66.1 66.1 66.0 66.0
2006 66.0 66.1 66.2 66.1 66.1 66.2 66.1 66.2 66.1 66.2 66.3 66.4
2007 66.4 66.3 66.2 65.9 66.0 66.0 66.0 65.8 66.0 65.8 66.0 66.0
2008 66.2 66.0 66.1 65.9 66.1 66.1 66.1 66.1 66.0 66.0 65.9 65.8
2009 65.7 65.8 65.6 65.7 65.7 65.7 65.5 65.4 65.1 65.0 65.0 64.6
2010 64.8 64.9 64.9 65.2 64.9 64.6 64.6 64.7 64.6 64.4 64.6 64.3
2011 64.2 64.1 64.2 64.2 64.1 64.0 64.0 64.1 64.2 64.1 64.1 64.0
2012 63.7 63.8 63.8 63.7 63.7 63.8 63.7 63.5 63.6 63.8 63.6 63.7
2013 63.6 63.4 63.3 63.4 63.4 63.4 63.3 63.3 63.3 62.8 63.0 62.9
2014 62.9 62.9 63.1 62.8 62.8 62.8 62.9 62.9 62.8 62.9 62.9 62.7
2015 62.9 62.7 62.7 62.8 62.9 62.6 62.6 62.6 62.4 62.5 62.5 62.7
2016 62.7 62.9 63.0 62.8 62.6 62.7 62.8 62.8 62.9 62.8 62.6 62.7
2017 62.9 63.0 63.0 62.9 62.7 62.8 62.9 62.9 63.1 62.7 62.7

Unemployment Level

6.6 Million

 

Series Id:           LNS13000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 5708 5858 5733 5481 5758 5651 5747 5853 5625 5534 5639 5634
2001 6023 6089 6141 6271 6226 6484 6583 7042 7142 7694 8003 8258
2002 8182 8215 8304 8599 8399 8393 8390 8304 8251 8307 8520 8640
2003 8520 8618 8588 8842 8957 9266 9011 8896 8921 8732 8576 8317
2004 8370 8167 8491 8170 8212 8286 8136 7990 7927 8061 7932 7934
2005 7784 7980 7737 7672 7651 7524 7406 7345 7553 7453 7566 7279
2006 7064 7184 7072 7120 6980 7001 7175 7091 6847 6727 6872 6762
2007 7116 6927 6731 6850 6766 6979 7149 7067 7170 7237 7240 7645
2008 7685 7497 7822 7637 8395 8575 8937 9438 9494 10074 10538 11286
2009 12058 12898 13426 13853 14499 14707 14601 14814 15009 15352 15219 15098
2010 15046 15113 15202 15325 14849 14474 14512 14648 14579 14516 15081 14348
2011 14013 13820 13737 13957 13855 13962 13763 13818 13948 13594 13302 13093
2012 12797 12813 12713 12646 12660 12692 12656 12471 12115 12124 12005 12298
2013 12470 11954 11672 11752 11657 11741 11350 11284 11264 11133 10792 10410
2014 10240 10383 10400 9705 9740 9460 9637 9616 9255 8964 9060 8718
2015 8962 8663 8538 8521 8655 8251 8235 8017 7877 7869 7939 7927
2016 7829 7845 7977 7910 7451 7799 7749 7853 7904 7740 7409 7529
2017 7635 7528 7202 7056 6861 6977 6981 7132 6801 6520 6610

U-3 Unemployment Rate

4.1%

Series Id:           LNS14000000
Seasonally Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent or rate
Age:                 16 years and over

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 4.0 4.1 4.0 3.8 4.0 4.0 4.0 4.1 3.9 3.9 3.9 3.9
2001 4.2 4.2 4.3 4.4 4.3 4.5 4.6 4.9 5.0 5.3 5.5 5.7
2002 5.7 5.7 5.7 5.9 5.8 5.8 5.8 5.7 5.7 5.7 5.9 6.0
2003 5.8 5.9 5.9 6.0 6.1 6.3 6.2 6.1 6.1 6.0 5.8 5.7
2004 5.7 5.6 5.8 5.6 5.6 5.6 5.5 5.4 5.4 5.5 5.4 5.4
2005 5.3 5.4 5.2 5.2 5.1 5.0 5.0 4.9 5.0 5.0 5.0 4.9
2006 4.7 4.8 4.7 4.7 4.6 4.6 4.7 4.7 4.5 4.4 4.5 4.4
2007 4.6 4.5 4.4 4.5 4.4 4.6 4.7 4.6 4.7 4.7 4.7 5.0
2008 5.0 4.9 5.1 5.0 5.4 5.6 5.8 6.1 6.1 6.5 6.8 7.3
2009 7.8 8.3 8.7 9.0 9.4 9.5 9.5 9.6 9.8 10.0 9.9 9.9
2010 9.8 9.8 9.9 9.9 9.6 9.4 9.4 9.5 9.5 9.4 9.8 9.3
2011 9.1 9.0 9.0 9.1 9.0 9.1 9.0 9.0 9.0 8.8 8.6 8.5
2012 8.3 8.3 8.2 8.2 8.2 8.2 8.2 8.1 7.8 7.8 7.7 7.9
2013 8.0 7.7 7.5 7.6 7.5 7.5 7.3 7.3 7.2 7.2 6.9 6.7
2014 6.6 6.7 6.7 6.2 6.3 6.1 6.2 6.2 5.9 5.7 5.8 5.6
2015 5.7 5.5 5.4 5.4 5.5 5.3 5.2 5.1 5.0 5.0 5.0 5.0
2016 4.9 4.9 5.0 5.0 4.7 4.9 4.9 4.9 4.9 4.8 4.6 4.7
2017 4.8 4.7 4.5 4.4 4.3 4.4 4.3 4.4 4.2 4.1 4.1  U-3

U-6 Unemployment Rate

8.0%

 

Series Id:           LNS13327709
Seasonally Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent or rate
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

Download:
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual
2000 7.1 7.2 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.4 7.3 7.4 7.5 7.9 7.8 8.1 8.7 9.3 9.4 9.6
2002 9.5 9.5 9.4 9.7 9.5 9.5 9.6 9.6 9.6 9.6 9.7 9.8
2003 10.0 10.2 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.0 9.8
2004 9.9 9.7 10.0 9.6 9.6 9.5 9.5 9.4 9.4 9.7 9.4 9.2
2005 9.3 9.3 9.1 8.9 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.4 8.2 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.4 8.8
2008 9.2 9.0 9.1 9.2 9.7 10.1 10.5 10.8 11.0 11.8 12.6 13.6
2009 14.2 15.2 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.1
2010 16.7 17.0 17.1 17.1 16.6 16.4 16.4 16.5 16.8 16.6 16.9 16.6
2011 16.2 16.0 15.9 16.1 15.8 16.1 15.9 16.1 16.4 15.8 15.5 15.2
2012 15.2 15.0 14.5 14.6 14.7 14.8 14.8 14.6 14.8 14.4 14.4 14.4
2013 14.5 14.4 13.8 14.0 13.8 14.2 13.8 13.6 13.7 13.6 13.1 13.1
2014 12.7 12.6 12.6 12.3 12.1 12.0 12.2 12.0 11.8 11.5 11.4 11.2
2015 11.3 11.0 10.9 10.8 10.7 10.5 10.3 10.2 10.0 9.8 9.9 9.9
2016 9.9 9.8 9.8 9.7 9.7 9.6 9.7 9.7 9.7 9.5 9.3 9.2
2017 9.4 9.2 8.9 8.6 8.4 8.6 8.6 8.6 8.3 7.9 8.0

Employment Situation Summary

Transmission of material in this release is embargoed until                  USDL-17-1616
8:30 a.m. (EST) Friday, December 8, 2017

Technical information:
 Household data:       (202) 691-6378  *  cpsinfo@bls.gov  *  www.bls.gov/cps
 Establishment data:   (202) 691-6555  *  cesinfo@bls.gov  *  www.bls.gov/ces

Media contact:         (202) 691-5902  *  PressOffice@bls.gov


                         THE EMPLOYMENT SITUATION -- NOVEMBER 2017


Total nonfarm payroll employment increased by 228,000 in November, and the unemployment 
rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. 
Employment continued to trend up in professional and business services, manufacturing, 
and health care.

Household Survey Data

The unemployment rate held at 4.1 percent in November, and the number of unemployed 
persons was essentially unchanged at 6.6 million. Over the year, the unemployment rate 
and the number of unemployed persons were down by 0.5 percentage point and 799,000, 
respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for teenagers increased to 15.9 
percent in November. The jobless rates for adult men (3.7 percent), adult women (3.7 
percent), Whites (3.6 percent), Blacks (7.3 percent), Asians (3.0 percent), and Hispanics 
(4.7 percent) showed little change. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially 
unchanged at 1.6 million in November and accounted for 23.8 percent of the unemployed. 
Over the year, the number of long-term unemployed was down by 275,000. (See table A-12.)

The labor force participation rate remained at 62.7 percent in November and has shown no 
clear trend over the past 12 months. The employment-population ratio, at 60.1 percent, 
changed little in November and has shown little movement, on net, since early this year. 
(See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as 
involuntary part-time workers), at 4.8 million, was essentially unchanged in November but 
was down by 858,000 over the year. These individuals, who would have preferred full-time 
employment, were working part time because their hours had been cut back or because they 
were unable to find full-time jobs. (See table A-8.)

In November, 1.5 million persons were marginally attached to the labor force, down by 
451,000 from a year earlier. (The data are not seasonally adjusted.) These individuals 
were not in the labor force, wanted and were available for work, and had looked for a job 
sometime in the prior 12 months. They were not counted as unemployed because they had not 
searched for work in the 4 weeks preceding the survey. (See table A-16.)

Among the marginally attached, there were 469,000 discouraged workers in November, down by 
122,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers 
are persons not currently looking for work because they believe no jobs are available for 
them. The remaining 1.0 million persons marginally attached to the labor force in November 
had not searched for work for reasons such as school attendance or family responsibilities. 
(See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment increased by 228,000 in November. Employment continued to 
trend up in professional and business services, manufacturing, and health care. Employment 
growth has averaged 174,000 per month thus far this year, compared with an average monthly 
gain of 187,000 in 2016. (See table B-1.)

Employment in professional and business services continued on an upward trend in November 
(+46,000). Over the past 12 months, the industry has added 548,000 jobs. 

In November, manufacturing added 31,000 jobs. Within the industry, employment rose in 
machinery (+8,000), fabricated metal products (+7,000), computer and electronic products 
(+4,000), and plastics and rubber products (+4,000). Since a recent low in November 2016, 
manufacturing employment has increased by 189,000.

Health care added 30,000 jobs in November. Most of the gain occurred in ambulatory health 
care services (+25,000), which includes offices of physicians and outpatient care centers. 
Monthly employment growth in health care has averaged 24,000 thus far in 2017, compared 
with an average increase of 32,000 per month in 2016. 

Within construction, employment among specialty trade contractors increased by 23,000 in 
November and by 132,000 over the year.  

Employment in other major industries, including mining, wholesale trade, retail trade, 
transportation and warehousing, information, financial activities, leisure and hospitality, 
and government, changed little over the month. 

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour 
to 34.5 hours in November. In manufacturing, the workweek was unchanged at 40.9 hours, and 
overtime remained at 3.5 hours. The average workweek for production and nonsupervisory 
employees on private nonfarm payrolls was unchanged at 33.7 hours. (See tables B-2 and 
B-7.)

In November, average hourly earnings for all employees on private nonfarm payrolls rose 
by 5 cents to $26.55. Over the year, average hourly earnings have risen by 64 cents, or 
2.5 percent. Average hourly earnings of private-sector production and nonsupervisory 
employees rose by 5 cents to $22.24 in November. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for September was revised up from +18,000 
to +38,000, and the change for October was revised down from +261,000 to +244,000. With 
these revisions, employment gains in September and October combined were 3,000 more than 
previously reported. (Monthly revisions result from additional reports received from 
businesses and government agencies since the last published estimates and from the 
recalculation of seasonal factors.) After revisions, job gains have averaged 170,000 over 
the last 3 months. 

_____________
The Employment Situation for December is scheduled to be released on Friday, January 5, 
2018, at 8:30 a.m. (EST).


    ______________________________________________________________________________________
   |                                                                                      |
   |               Revision of Seasonally Adjusted Household Survey Data                  |
   |                                                                                      |
   | In accordance with usual practice, The Employment Situation news release for December|
   | 2017, scheduled for January 5, 2018, will incorporate annual revisions in seasonally |
   | adjusted household survey data. Seasonally adjusted data for the most recent 5       |
   | years are subject to revision.                                                       |
   |______________________________________________________________________________________|


    ______________________________________________________________________________________
   |                                                                                      |
   |        Conversion to the 2017 North American Industry Classification System          |
   |                                                                                      |
   | With the release of January 2018 data on February 2, 2018, the establishment survey  |
   | will revise the basis for industry classification from the 2012 North American       |
   | Industry Classification System (NAICS) to 2017 NAICS. The conversion to 2017 NAICS   |
   | will result in minor revisions reflecting content changes within the mining and      |
   | logging, retail trade, information, financial activities, and professional and       |
   | business services sectors. Additionally, some smaller industries will be combined    |
   | within the mining and logging, durable goods manufacturing, retail trade, and        |
   | information sectors. Several industry titles and descriptions also will be updated.  |
   |                                                                                      |
   | Approximately 4 percent of employment will be reclassified into different industries |
   | as a result of the revision. Details of new, discontinued, and combined industries   |
   | due to the 2017 NAICS update, as well as changes due to the annual benchmarking      |
   | process, will be available on January 5, 2018.                                       |
   |                                                                                      |
   | For more information on the 2017 NAICS update, visit www.census.gov/eos/www/naics/.  |
   |______________________________________________________________________________________|



 

https://www.bls.gov/news.release/empsit.nr0.htm

Employment Situation Summary Table A. Household data, seasonally adjusted

HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]
Category Nov.
2016
Sept.
2017
Oct.
2017
Nov.
2017
Change from:
Oct.
2017-
Nov.
2017

Employment status

Civilian noninstitutional population

254,540 255,562 255,766 255,949 183

Civilian labor force

159,456 161,146 160,381 160,529 148

Participation rate

62.6 63.1 62.7 62.7 0.0

Employed

152,048 154,345 153,861 153,918 57

Employment-population ratio

59.7 60.4 60.2 60.1 -0.1

Unemployed

7,409 6,801 6,520 6,610 90

Unemployment rate

4.6 4.2 4.1 4.1 0.0

Not in labor force

95,084 94,417 95,385 95,420 35

Unemployment rates

Total, 16 years and over

4.6 4.2 4.1 4.1 0.0

Adult men (20 years and over)

4.3 3.9 3.8 3.7 -0.1

Adult women (20 years and over)

4.2 3.9 3.6 3.7 0.1

Teenagers (16 to 19 years)

15.2 12.9 13.7 15.9 2.2

White

4.2 3.7 3.5 3.6 0.1

Black or African American

8.0 7.0 7.5 7.3 -0.2

Asian

3.0 3.7 3.1 3.0 -0.1

Hispanic or Latino ethnicity

5.7 5.1 4.8 4.7 -0.1

Total, 25 years and over

3.9 3.5 3.3 3.3 0.0

Less than a high school diploma

7.9 6.5 5.7 5.2 -0.5

High school graduates, no college

4.9 4.3 4.3 4.3 0.0

Some college or associate degree

3.9 3.6 3.7 3.6 -0.1

Bachelor’s degree and higher

2.3 2.3 2.0 2.1 0.1

Reason for unemployment

Job losers and persons who completed temporary jobs

3,542 3,359 3,227 3,159 -68

Job leavers

934 738 742 751 9

Reentrants

2,266 2,079 2,006 2,029 23

New entrants

728 669 629 691 62

Duration of unemployment

Less than 5 weeks

2,415 2,226 2,129 2,250 121

5 to 14 weeks

2,133 1,874 1,942 1,878 -64

15 to 26 weeks

1,073 963 853 927 74

27 weeks and over

1,856 1,733 1,621 1,581 -40

Employed persons at work part time

Part time for economic reasons

5,659 5,122 4,753 4,801 48

Slack work or business conditions

3,485 3,121 2,952 2,983 31

Could only find part-time work

1,902 1,733 1,629 1,559 -70

Part time for noneconomic reasons

21,059 21,011 20,923 21,018 95

Persons not in the labor force (not seasonally adjusted)

Marginally attached to the labor force

1,932 1,569 1,535 1,481

Discouraged workers

591 421 524 469

– Over-the-month changes are not displayed for not seasonally adjusted data.
NOTE: Persons whose ethnicity is identified as Hispanic or Latino may be of any race. Detail for the seasonally adjusted data shown in this table will not necessarily add to totals because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data.

Employment Situation Summary Table B. Establishment data, seasonally adjusted

ESTABLISHMENT DATA
Summary table B. Establishment data, seasonally adjusted
Category Nov.
2016
Sept.
2017
Oct.
2017(P)
Nov.
2017(P)

EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)

Total nonfarm

164 38 244 228

Total private

178 50 247 221

Goods-producing

35 26 34 62

Mining and logging

7 4 1 7

Construction

28 13 10 24

Manufacturing

0 9 23 31

Durable goods(1)

3 6 13 27

Motor vehicles and parts

1.4 -3.1 -0.8 1.7

Nondurable goods

-3 3 10 4

Private service-providing

143 24 213 159

Wholesale trade

5.6 7.3 8.0 3.4

Retail trade

-12.9 11.7 -2.2 18.7

Transportation and warehousing

21.8 18.3 7.6 10.5

Utilities

0.3 0.6 0.1 -0.2

Information

-12 -5 -8 -4

Financial activities

12 12 7 8

Professional and business services(1)

46 30 54 46

Temporary help services

25.5 10.1 17.9 18.3

Education and health services(1)

31 23 24 54

Health care and social assistance

28.2 8.3 34.6 40.5

Leisure and hospitality

44 -75 104 14

Other services

7 1 18 9

Government

-14 -12 -3 7

(3-month average change, in thousands)

Total nonfarm

179 128 163 170

Total private

178 122 160 173

WOMEN AND PRODUCTION AND NONSUPERVISORY EMPLOYEES
AS A PERCENT OF ALL EMPLOYEES(2)

Total nonfarm women employees

49.6 49.5 49.5 49.5

Total private women employees

48.2 48.1 48.1 48.1

Total private production and nonsupervisory employees

82.3 82.4 82.4 82.4

HOURS AND EARNINGS
ALL EMPLOYEES

Total private

Average weekly hours

34.3 34.4 34.4 34.5

Average hourly earnings

$25.91 $26.53 $26.50 $26.55

Average weekly earnings

$888.71 $912.63 $911.60 $915.98

Index of aggregate weekly hours (2007=100)(3)

105.8 107.4 107.7 108.2

Over-the-month percent change

-0.1 0.0 0.3 0.5

Index of aggregate weekly payrolls (2007=100)(4)

131.0 136.3 136.4 137.3

Over-the-month percent change

-0.2 0.5 0.1 0.7

DIFFUSION INDEX
(Over 1-month span)(5)

Total private (261 industries)

51.5 60.9 65.1 63.0

Manufacturing (78 industries)

48.7 59.0 62.2 59.0

Footnotes
(1) Includes other industries, not shown separately.
(2) Data relate to production employees in mining and logging and manufacturing, construction employees in construction, and nonsupervisory employees in the service-providing industries.
(3) The indexes of aggregate weekly hours are calculated by dividing the current month’s estimates of aggregate hours by the corresponding annual average aggregate hours.
(4) The indexes of aggregate weekly payrolls are calculated by dividing the current month’s estimates of aggregate weekly payrolls by the corresponding annual average aggregate weekly payrolls.
(5) Figures are the percent of industries with employment increasing plus one-half of the industries with unchanged employment, where 50 percent indicates an equal balance between industries with increasing and decreasing employment.
(P) Preliminary

NOTE: Data have been revised to reflect March 2016 benchmark levels and updated seasonal adjustment factors.

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Precision sacrificed for speed as GOP rushes ahead on taxes

5 tax issues Republicans need to resolve in conference

Now that the Senate and the House have passed two tax bills, there are some crucial differences they need to resolve in conference.

 December 10 at 6:42 PM
Republicans are moving their tax plan toward final passage at stunning speed, blowing past Democrats before they’ve had time to fully mobilize against it but leaving the measure vulnerable to the types of expensive problems popping up in their massive and complex plan.Questionable special-interest provisions have been stuffed in along the way, out of public view and in some cases literally in the dead of night. Drafting errors by exhausted staff are cropping up and need fixes, which must be tackled by congressional negotiators working to reconcile competing versions of the legislation passed separately by the House and the Senate.And the melding process underway has opened the door to another frenzy of 11th-hour lobbying as special interests, including President Trump’s rich friends, make one last dash for cash before the final bill speeds through both chambers of Congress and onto Trump’s desk. Passage is expected the week before Christmas.

Veterans of congressional tax overhauls, particularly the seminal revamp under President Ronald Reagan in 1986, have been stunned and in some cases outraged at how swiftly Republicans are moving on legislation that touches every corner of the economy and all Americans. And although GOP leaders make no apologies, some in their rank and file say that the process would have benefited from a more deliberate and open approach.

“I think it would have looked better if we had taken more time and had more transparency, had more open committee hearings,” said freshman Rep. James Comer (R-Ky.).

“Having said that, the goal that everybody had was to reduce the tax rates. . . . So at the end of the day the goal is going to be achieved, but we could have done it in a more transparent manner that probably would have given the voters that are being polled a little more confidence,” Comer said, referring to the effort’s poor showing in opinion surveys.

It has been a little more than a month since the $1.5 trillion legislation was introduced in the House, and in that short time it has cleared the two key committees in the House and Senate and won approval on the floors of both chambers, all without a single Democratic vote. If Trump signs the bill as planned before Christmas, that would mean a journey of less than two months between introduction and final passage.

The specific legislation that probably will become law, sold as a middle-class tax cut but featuring a massive corporate rate reduction at its center, is moving from release toward passage without any hearings, unusual for a bill of such magnitude. And as it tumbled along it picked up some startling new features, to the surprise of affected industries, Democrats and in some cases Republicans themselves.

Some of the most notable changes came in the hours before the Senate’s passage of its version of the plan, which happened about 1:50 a.m. Dec. 2.

The final vote was preceded by hours of inaction as Republicans fine-tuned their legislation behind closed doors, while fuming Democratic staffers ate Chinese food and pored over versions of the bill and lists of amendments that had been leaked by lobbyists on K Street before Republicans had made anything public.

As they got additional drafts of the bill, Democrats were incensed at some of what they found, including new breaks for the oil and gas industry, and a provision that appeared aimed specifically at helping Hillsdale College, a small liberal arts college in Michigan that doesn’t accept federal funding and has a large endowment funded by wealthy conservatives — including the family of Education Secretary Betsy DeVos.

An angry Sen. Bernie Sanders (I-Vt.) stood on his chamber’s floor to declare that “the federal treasury is being looted.” In their one victory of the debate, Democrats offered an amendment to strike the Hillsdale provision, and with the help of four Republicans it passed.

Democrats weren’t the only ones surprised by what was in the bill. Republicans and the business community were stunned when the final Senate version restored the alternative minimum tax for corporations. The tax, aimed at keeping companies from shirking their tax duties entirely, had been repealed in the House bill and earlier versions of the Senate measure.

Restoring the corporate alternative minimum tax created $40 billion in revenue for the bill, which helped Republicans come in under complex budgetary guidelines saying the legislation can’t go over the $1.5 trillion the GOP has agreed to add to the deficit over the next decade. Still, some Republicans professed not to know how the change had come about.

And under the new tax code the GOP bill would create, including the alternative minimum tax could have the unintended consequence of preventing companies from using other deductions, including the popular research and development tax credit.

“I’m guessing they just needed something quick to make the bill work,” said Rep. Devin Nunes (R-Calif.), who is one of the conferees charged with blending the two bills together.

Now, as quickly as it reappeared, the corporate alternative minimum tax probably will disappear again. Republican lawmakers widely agree that it doesn’t work and can’t be included, but it remains a mystery where they’ll find revenue to offset that change and pay for others they’re looking to include in the final package.

There has been discussion of moving the corporate rate — slashed from 35 percent to 20 percent by the House and Senate — back up to 22 percent, but the backlash against that proposal has been intense and it probably will be dropped. But revenue must be found somewhere because there are some changes that look nearly certain, including adjusting the new limit on deducting state and local taxes. Both the House and Senate legislation would allow taxpayers to deduct only up to $10,000 in property taxes. Some of Trump’s New York friends have taken exception to that provision and have lobbied the president personally against it.

It’s all part of a breakneck pace of the tax plan that contrasts with the nearly a year-and-a-half that passed between when Reagan unveiled his initial version of the 1986 tax plan and its ultimate passage into law. The less far-ranging tax cuts that President George W. Bush signed in 2001 took four months to become law after the release of Bush’s initial blueprint. And the Affordable Care Act took nearly a year to complete, including a congressional summer recess featuring angry town hall meetings that turned public sentiment sharply against the bill.

Democrats accuse Republicans of whisking the legislation along to avoid extended public scrutiny and prevent them from mounting an offensive at public hearings or over lengthy congressional breaks. The GOP bills have endured neither.

“It’s clear that we could have defeated this bill had we gone through regular order and had any expert witness from any blue state or high-tax state come in,” said Rep. John B. Larson (Conn.), who was a member of Democratic leadership during the much lengthier and more open process of passing the ACA. The provision limiting taxpayers’ ability to deduct state and local taxes hits high-tax areas such as California, New York, New Jersey and Connecticut particularly hard.

“People would have said, ‘Well, wait a minute,’ ” Larson said.

Republican congressional leaders dispute such comparisons, saying that the process on taxes has been going on for years, given that the party has long been debating the idea and an early foundational bill was released by then-Rep. Dave Camp (R-Mich.), former chairman of the tax-writing Ways and Means Committee, nearly four years ago. House Republicans, led by Speaker Paul D. Ryan (Wis.), also campaigned last year on an agenda called “A Better Way,” which featured a tax plank similar in many respects to the bill the House ultimately passed, although it drew scant attention at the time.

“These are relatively small bills, 400 pages or so; they’re not hard to digest. The policy decisions, the thoughtfulness, a lot of these issues we’ve been debating together and apart for years,” said House Ways and Means Chairman Kevin Brady (R-Tex.). “Bottom line is the American people have been waiting 30 years. So to paraphrase a hardware store: less talking, more doing.”

Even before the late-night Senate dramatics, the process offered surprises and sudden twists.

A provision repealing an Affordable Care Act requirement for most Americans to carry insurance or pay fines was added to the Senate bill with little warning over the course of an afternoon, a major health policy decision that is projected to leave 13 million more Americans uninsured in a decade but that would give Republicans $330 billion to pay for other things they want to do.

And the release of the House bill stunned manufacturers when they discovered it contained an “excise tax” on purchases from American companies’ foreign subsidiaries that some said could drive them out of business. The provision was watered down before passage by the Ways and Means Committee, but companies are still fighting to keep it out of the final bill, said Nancy McLernon, president of the Organization for International Investment, which represents global companies with U.S. operations. Despite the years-long focus on tax overhaul, such a provision had not been debated — even after companies beat back a different import tax, she said.

The Senate has a different provision that companies like better, but as far as the cost of going from one to the other or how it will all shake out, “It’s all a Rubik’s cube,” McLernon said.

Many lobbyists, Democrats and other observers expect to find the final version of the plan, which could be filed late this week, just as full of surprises as the various iterations that have appeared. But as they gun for a legislative win that has eluded them this year, Republicans show little interest in slowing down to take a closer look.

“The frenzy, and I would call it a frenzy, to get it done and have a Christmas present for America — number one, I think it’s unnecessary; it’s a self-imposed deadline, and number two, it makes the possibility for error much greater,” said Steve Bell, a senior adviser at the Bipartisan Policy Center who was staff director of the Senate Budget Committee during the 1986 tax effort. “This is a rush without a reason other than the political desire for a Rose Garden signing ceremony.”

Mike DeBonis contributed to this report.

https://www.washingtonpost.com/business/economy/precision-sacrificed-for-speed-as-gop-rushes-ahead-on-taxes/2017/12/10/876ab274-dc62-11e7-b1a8-62589434a581_story.html?utm_term=.167e53dc0cba

 

The Taxman Cometh: Senate Bill’s Marginal Rates Could Top 100% for Some

Certain high-income business owners would face backwards incentives; lawmakers work to bridge gap

House and Senate Republicans are trying to reconcile their tax bills to get rid of the most contentious proposals.
House and Senate Republicans are trying to reconcile their tax bills to get rid of the most contentious proposals. PHOTO: DANIEL ACKER/BLOOMBERG NEWS

WASHINGTON—Some high-income business owners could face marginal tax rates exceeding 100% under the Senate’s tax bill, far beyond the listed rates in the Republican plan.

That means a business owner’s next $100 in earnings, under certain circumstances, would require paying more than $100 in additional federal and state taxes.

As lawmakers rush to write the final tax bill over the next week, they already are looking at changes to prevent this from happening. Broadly, House and Senate Republicans are trying to reconcile their bills, looking for ways to pay for eliminating the most contentious proposals. The formal House-Senate conference committee will meet on Wednesday, and GOP lawmakers may unveil an agreement by week’s end.

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The possible marginal tax rate of more than 100% results from the combination of tax policies designed to provide benefits to businesses and families but then deny them to the richest people. As income climbs and those breaks phase out, each dollar of income faces regular tax rates and a hidden marginal rate on top of that, in the form of vanishing tax breaks. That structure, if maintained in a final law, would create some of the disincentives to working and to earning business profit that Republicans have long complained about, while opening lucrative avenues for tax avoidance.

As a taxpayer’s income gets much higher and moves out of those phaseout ranges, the marginal tax rates would go down.

Consider, for example, a married, self-employed New Jersey lawyer with three children and earnings of about $615,000. Getting $100 more in business income would force the lawyer to pay $105.45 in federal and state taxes, according to calculations by the conservative-leaning Tax Foundation. That is more than double the marginal tax rate that household faces today.

If the New Jersey lawyer’s stay-at-home spouse wanted a job, the first $100 of the spouse’s wages would require $107.79 in taxes. And the tax rates for similarly situated residents of California and New York City would be even higher, the Tax Foundation found. Analyses by the Tax Policy Center, which is run by a former Obama administration official, find similar results, with federal marginal rates as high as 85%, and those don’t include items such as state taxes, self-employment taxes or the phase-out of child tax credits.

The bill as written would provide incentives for business owners to shift profit across calendar years, move personal expenses inside the business and engage in other economically unproductive maneuvers, said David Gamage, a tax-law professor at Indiana University.

“I would expect a huge tax-gaming response once people fully understand how it works,” said Mr. Gamage, a former Treasury Department official, who said business owners have an easier time engaging in such tax avoidance than salaried employees do. “The payoff for gaming is huge, within the set of people who both face these rates and have flexible enough business structures.”

The analyses “raise a valid concern” that lawmakers are examining, said Julia Lawless, a spokeswoman for the Senate Finance Committee.

“With any major reform, there will always be unusual hypotheticals delivering anomalous results,” she said. “The goal of Congress’s tax overhaul has been to lower taxes on the American people and by and large, according to a variety of analyses, we’re achieving that.”

Marginal tax rates are different from average tax rates. A marginal rate is the tax on the edge, or margin, of one’s earnings, and so it reflects what would be the next dollar of income. The average rate is a way of measuring a taxpayer’s total burden.

The Republican bills are trying to reduce both marginal and average tax rates, and for many taxpayers, they do. The marginal tax rates above 100% affect a small slice of households with very particular circumstances. Similar, though smaller, effects occur throughout the tax system.

“This is a big concern,” said Scott Greenberg, a Tax Foundation analyst. “It would be unfortunate if Congress passed a tax bill that had the effect of making additional work and additional income not worthwhile for any subgroup of households.”

Here’s how that New Jersey lawyer’s marginal rate adds up to more than 100%:

The household is paying the 35% marginal tax rate on their income range. Or, they are paying the alternative minimum tax, which operates at the same marginal rate in that income range.

The household is paying New Jersey’s highest income-tax rate, which is 8.97%, and now has to pay all of that because the Republican tax plan wouldn’t let such state or local taxes be deducted from federal income.

The household is also losing a deduction the Senate created for so-called pass-through businesses such as partnerships and S corporations. That 23% deduction is fully available to owners of service businesses like law firms, but only if income is below $500,000 for a married couple.

The deduction then phases out over $100,000 in income, according to a complex formula, disappearing entirely once income reaches $624,000. Up to that point, each additional dollar of business income faces progressively steeper tax rates because the deduction and its benefit are shrinking rapidly as income goes up.

The provisions also interact with each other in ways that drive up marginal rates. “The central problem here is that there is a large benefit phasing out over a short range,” Mr. Greenberg said.

The Republican bill doubles the child tax credit to $2,000 but phases it out beginning at $500,000 income for joint filers. The credit shrinks by $50 for every $1,000 in income above that, so a married couple with three children faces a higher marginal tax rate when they’re in that phase-out range.

The analysis assumes that the New Jersey lawyer is paying a 3.8% tax on self-employment income.

Pushing marginal rates lower on these households wouldn’t be easy and would require tradeoffs. Republicans could make the phaseout of the business deduction more gentle, spreading it over, say, $200,000, as opposed to $100,000, of income above $500,000. But that would make the tax cuts bigger, and Republicans are already looking for money to offset other changes they are planning.

They could lower the threshold for the child tax credit, but that would reduce tax cuts for households below $500,000.

Under current law, there are some high marginal tax rates for some lower-income households. Some families just above the poverty line can see their earned income tax credits and food stamps going down as their federal and state taxes go up. That combination can create marginal tax rates of around 75%, according to the Congressional Budget Office.

Appeared in the December 11, 2017, print edition as ‘Taxman Cometh: Marginal Rates Could Top 100% for Some.’

https://www.wsj.com/articles/the-taxman-cometh-senate-bills-marginal-rates-could-top-100-for-some-1512942118

Tax Reform Under History’s Light


Senior Vice President, Economic Policy Division, and Chief Economist

Former Democratic Senator John Breaux

Former Democratic Senator John Breaux.

[This is part of an ongoing series entitled “The Case for Tax Reform,” which examines the importance of reforming the outdated tax code, and how achieving that goal will advance economic growth, jobs, and prosperity.]

Tax reform’s chances are better in this Congress than at any time in the past 30 years. Thus, comparisons come naturally to the events leading up to the 1986 Tax Reform Act (TRA86). These comparisons are useful for the similarities and the differences, both of which provide insights as to how to assure success today.

One important similarity is TRA86 brought to conclusion a long and detailed debate about tax policy. Our current efforts also rest on a lengthy debate recently brought to the fore. An important difference, however, is TRA86 was enacted as a widely accepted “should do,” whereas tax reform in 2017 is much more of a “must do.”

‘86 tax reform in 30 seconds

TRA86 culminated as a complex debate starting about 10 years prior with the release of Treasury’s “Blueprints for Basic Tax Reform” in the waning hours of the Ford administration. Treasury’s “Blueprints” laid out a coherent approach to tax policy, emphasizing simplification and a reduction in tax distortions that were sapping economic growth.

Two years later, in response to a poorly performing economy, Congress adopted the Steiger Amendment, significantly cutting the capital gains tax rate as part of the 1978 Revenue Act. While often ignored, the Steiger Amendment marked the bi-partisan recognition of tax policy’s importance for economic growth. Pro-growth tax reform was not just for tax geeks anymore.

Federal tax policy debate took on new energy in 1981 with the passage of the landmark Reagan tax cuts, dominated by substantial rate reduction. Following legislation in 1982 and 1984 to readjust tax levels, the stage was set for fundamental tax reform.

A bipartisan consensus regarding sound tax policy evolved through the years leading up to TRA86. This consensus distilled down to the simple mantra of “lower the rates, broaden the base.”  Like the 1981 legislation, TRA86 would reduce tax rates substantially and install a less punitive system of capital consumption allowances. Unlike the 1981 legislation, however, the focus would also be on simplification, on the wide range of areas of the tax code reformed, and especially on revenue neutrality.

This consensus first took concrete form in two highly-detailed proposals out the Reagan Treasury Department, commonly dubbed Treasury I and its improved version, Treasury II, and released in 1984 and 1985 respectively. With these reports laying the groundwork, Congress then took over a year to legislate, finally producing TRA86.

The years between

TRA86 was the product of an extended period of consensus building and analysis. For those new to the debate, today’s strong momentum for comprehensive, pro-growth tax reform may seem to have arisen out of thin air, but, in fact, this debate has ebbed and flowed almost without pause since 1986.

The appetite for tax reform did not die following TRA86, and so consideration naturally moved on to the “next big thing.” For a period, the big thing seemed to be some kind of European-style Value Added Tax (VAT). The VAT momentum quickly petered out, however, and soon revenue pressures shifted the focus of tax policy once again to raising income tax rates, often with distinct “soak-the-rich” overtones. The VAT episode set tax reform’s pattern of ebb and flow for the following years.

Even as the debate toward TRA86 was underway, a very different approach to tax policy appeared in the Hall-Rabushka Flat Tax. Though the Flat Tax is best known for having a single rate of tax, hence the name, what really distinguishes the Flat Tax is its simplification, the elimination of all taxes on capital income and capital gains, and the adoption of a cash-flow tax on businesses centered on allowing capital purchases to be “expensed,” or deducted immediately.

In the 1990s, as the Flat Tax gained greater acceptance, tax reform topped the national agenda with Steve Forbes leading the charge. But this effort soon deflated along with Forbes’ 1996 presidential campaign.

Tax reform again gained traction briefly after the 2004 election with the release of the superb report of the presidential commission led by former Democratic Senator John Breaux and former Republican Senator Connie Mack. However, this effort, too, led to naught, a victim of competing priorities and a lack of consensus.

Income tax reform was pushed far onto the back burners during President Barack Obama’s tenure. Despite a historically weak economic recovery, the Obama administration expressed little interest in proposals to reduce the tax code’s drag on growth. The Obama administration contented itself with modest tweaks at the edges and otherwise dedicated its efforts to defending the status quo, especially in the area of international tax where global pressures were felt most profoundly.

Tax reform today

Even as years of inaction passed, pressure to reform the federal income tax code rose steadily from all sides. In part, this pressure arose because the U.S. economy was changing rapidly, and the tax code became an ever-worse fit for a modern economy.

In part, the pressure arose because even as America stood pat, America’s major trading partners did not. They were cutting business tax rates steadily and almost all were moving toward a territorial tax system to allow their businesses to compete more effectively in a global business climate of increasing intensity.

Though on the back burner, tax reform continued to simmer in backchannels. Then-House Budget Committee Chairman Paul Ryan (R-WI) advanced a series of thoughtful tax reform proposals as part of his broader efforts to reform Federal tax policy. Rep. Devin Nunes (R-CA) offered his variation on tax reform, differing from but along the same broad lines as the Ryan proposal. Sen. Marco Rubio (R-FL) also introduced a major, comprehensive tax reform proposal with his own interpretations, and then released subsequent iterations as comments and critiques soon followed. In these years, though President Obama continued to block tax reform’s path, the debate remained alive and well.

In 2014, former Ways and Means Committee Chairman David Camp (R-MI) introduced a detailed tax reform proposal. As tax reform would originate in this committee, Camp’s proposal took on greater significance than most. The Camp proposal was intended to serve as a prototype for tax legislation and so offered much more detail and, in some cases, specific options for resolving some of the nagging technical issues in adopting a territorial tax system, for example. However, in the face of President Obama’s determined disinterest, few were willing to contemplate seriously the hard choices the Camp plan laid out and so, again, tax reform was left to simmer on the back burner.

Tax reform played a limited role in the 2016 presidential campaign, with the Democratic nominee, Hillary Clinton, largely continuing the defense of the status quo established by President Obama. Meanwhile, the Republican nominee, Donald Trump, suggested a bold change of direction; though, he accompanied it by very few details. Trump’s election, combined with the strong Republican interest in tax reform, quickly moved the issue to the front burner.

The focus on growth

Tax reform today, like its 1986 predecessor, has a long history of debate, evolution, and refinement. TRA86 and the current effort also share an intense focus on improving economic growth, but with one important difference: TRA86 largely responded to a sense borne of the previous, deep recession that the economy needed to be both stronger and more resilient, and that sound tax policy could help. Tax reform was seen as something Congress and the president could and should accomplish.

Tax reform today shares a similar motivation, but with far greater urgency. Just as no business can compete for long if its cost structure substantially exceeds those of its competitors, American businesses cannot continue to compete effectively at home or abroad facing high tax rates, an inadequate capital cost recovery system, and an international tax system long abandoned by competing companies.

American companies are managing to compete successfully today but with ever greater difficulty under the federal tax system. Failure to reform the tax system would not result overnight in significant decline in Americans’ long-run economic prospects. But it would most assuredly do so over the next few years as both financial and human capital is driven overseas.

Tax reform is one task Congress and the president simply have to get right if America is to prosper.

https://www.uschamber.com/above-the-fold/tax-reform-under-history-s-light

What History Teaches Us About Tax Reform


Senior Vice President, Economic Policy Division, and Chief Economist
023275_taxreform_atf_08_22_reagan_getty471341025.jpg

[This is part of an ongoing series entitled “The Case for Tax Reform,” which examines the importance of reforming the outdated tax code, and how achieving that goal will advance economic growth, jobs, and prosperity.]

An underperforming economy and mounting international competition have propelled tax reform from topic of discussion to front-burner issue. There is no change in federal policy that offers greater potential to strengthen employment and increase wages for American workers than sound, comprehensive tax reform.

Reviewing and respecting the lessons from the last major tax reform over thirty years ago illuminates the road ahead, and provides lessons for how to raise our odds of success. Time provides a dimension worth exploring for similarities and contrasts between 1986 and today. Specifically, the time leading up to the effort, and the time needed for Congress to act.

The Historical On Ramp to Tax Reform

President John F. Kennedy understood the dampening economic effects of high tax rates. Though he died before seeing his program enacted, his successor, President Lyndon B. Johnson pushed the program through Congress and thus the 1964 tax bill is commonly referred to as the “Kennedy tax cuts.” The 1964 bill centered on significant tax rate reductions to achieve a substantially stronger economy.

Thereafter, budget pressures from the Vietnam War and Great Society programs reoriented tax policy once again toward ever-higher tax rates accompanied by a steady accretion of deductions and credits to blunt the effects of higher rates on politically favored constituencies. This process continued unabated into President Jimmy Carter’s administration and not surprisingly coinciding with a languishing economy.

Even as tax rates climbed and new distortions filled the tax code, a countermovement arose. In the final moments of the Ford Administration, Secretary William E. Simon released a landmark Treasury report directed by one of the era’s great economists, David Bradford, called “Blueprints for Basic Tax Reform,” guiding concepts of sound tax policy for years to come.

As the economy struggled and President Carter stood by, Congress took the initiative. With strong, bipartisan support over Carter’s objections, Congress substantially cut the capital gains tax rate as part of the 1978 Revenue Act, marking the first step in a change in tax philosophy culminating in the 1986 Tax Reform Act (TRA86).

Senator Bill Roth (R-DE) and Congressman Jack Kemp (R-NY) then picked up tax reform’s guidon, leading the charge for lower tax rates. At the same time, a second dimension in tax policy gained steam – the need for a less punitive capital cost recovery system. This debate was led largely outside Congress by the likes of Charls Walker and Ernie Christian, former Ford Administration Treasury hands, and Norman B. Ture, later Treasury undersecretary under Ronald Reagan.

Spurred by a recession wrought by a disinflationary monetary policy, the tax debate quickly came to a head in the 1981 “Reagan tax cuts.” The 1981 bill cut tax rates and instituted a vastly superior capital cost recovery system among other reforms. In the process, the bill cut revenues far more than Reagan proposed.

Though the 1981 bill was championed by a Republican president, it enjoyed widespread Democratic support. Rep. Dan Rostenkowski (D-IL), Chairman of the House Committee on Ways and Means introduced and pushed the legislation to passage, joined by almost half the House Democrats and almost a third of Senate Democrats.

The magnitude of the 1981 tax cuts proved politically unsustainable and were quickly followed by a series of tax hikes reversing some of the 1981 revenue reductions. Having settled the issue of how much to tax, the stage was now set for the 1986 reform and deciding who and how to tax.

Building Toward the 1986 Tax Reform Act

At about this time a fundamentally different approach to tax policy appeared: the Hall-Rabushka Flat Tax. The Flat Tax’s popularity often associates with the simplicity of imposing a single tax rate. However, the real revolution it offered was not the single tax rate,but  what is subject to tax. Despite appearing as a traditional income tax, the Flat Tax was something quite new as it explicitly eliminated tax on investment income and imposed a simple cash flow tax on all businesses, thus adopting the principle of expensing, or allowing a full and immediate deduction for capital purchases.

The Flat Tax was too radical to gain wide acceptance in the early 1980s, but a vigorous bipartisan debate harkening back to Bradford’s 1976 “Blueprints” continued nonetheless. The 1981 tax cuts worked as intended to launch a powerful economic recovery, but memories of poor economic performance under Carter still lingered. A broad, bipartisan consensus championed faster economic growth by reforming the tax code to reduce the distortions to economic decision making it caused and the resulting misallocation of basic resources.

The basic strategy was to lower rates as in the 1981 Act, only further, and to implement a sound cost recovery system as in the 1981 Act. In contrast to 1981, however, the new strategy included a determined effort to “broaden the tax base” by eliminating distorting loopholes and tax credits, thereby intending the overall bill to be revenue neutral. .

The Treasury Department under Secretary Don Regan took the first big step in 1984 with the release of a densely packed 275 page proposal for comprehensive tax reform, dubbed “Treasury I”. While many aspects were well-received, as with most prototypes, Treasury I contained flaws, some of which Treasury addressed in 1985 with “Treasury II”.

Tax reform was off and running in Congress with the release of Treasury II, but the road  was by no means easy. Time and again Reagan had to give Congress another not-always-gentle push. The greatest peril demanding Reagan’s firm hand came when Senate Finance Committee Chairman Bob Packwood (R-OR) realized he couldn’t pass tax reform on the path it was on. Ironically, the man who had repeatedly saved tax reform, President Reagan, was also now tax reform’s biggest obstacle.

The Price for Overcoming the Greatest Hurdle

Reagan was forced into pushing for the most rate reduction possible. Initially he drew the line at 25 percent for individuals and he held firm for much of the debate. Like most policy, tax reform involves trade-offs and Packwood just couldn’t find enough obvious base broadeners he could economically or politically trade off to hit a 25 percent rate.

Something had to give. At first the rate crept up to 26 and then to 28 percent. But at 28 percent, Reagan would go no further.

As Reagan urged Packwood to press on, Packwood had to get creative. He took fairly innocuous existing individual and corporate minimum taxes and expanded them into full-fledged parallel tax systems; voila, massive back-door base broadening. Packwood’s new Alternative Minimum Tax (AMT), while a superb example of terrible tax policy, had as its one redeeming feature: it raised enough money in a sufficiently confusing manner to hit the 28 percent rate without creating too many political problems, at least not for the duration of the debate. Three months later, the final bill passed the Senate.

Packwood’s AMT offers an important lesson for tax reform today. As important as low tax rates are for economic growth, policy makers and the public need to be honest about the tradeoffs involved. The broadest possible tax base capable of garnering sufficient political support can only raise so much revenue at a targeted tax rate. Demand an even lower tax rate and something (or someone) else will have to give and very likely pro-growth tax policy will suffer as a consequence.

Back to the Present

With respect to time, the current tax reform debate parallels that of 1986 closely. TRA86 concluded a lengthy, evolutionary process regarding accepted beliefs about sound, pro-growth tax policy. That process distilled to the lowest possible rates and applied to a simple, broad tax base, while allowing for a depreciation system for capital costs minimizing the anti-investment aspects of an income tax.

Tax reform today shares these traits, both with respect to the substance of reform – low rates, broad base, and today, expensing – and with respect to time. Like the 1986 episode, tax reform today reflects the product of many years of debate regarding the design of pro-growth tax policy, an evolution that began in 1986.

In one other critical respect regarding time, TRA86 and the current effort offer stark contrasts. Where the legislative starting gun on TRA86 went off in 1984 and the effort then proceeded for over two years, Congress in 2017 will have only a handful of months from introduction to tax reform’s final passage. This difference in time will have significant implications for how Congress defines “comprehensive” as they work toward pro-growth tax reform.

Read Part 2: Tax Reform Under History’s Light

https://www.uschamber.com/above-the-fold/what-history-teaches-us-about-tax-reform

 

Story 3: Defeating The Islamic State in Iraq and Syria By Bombing Them To Death — ISIS Free? — Videos

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Total victory over ISIS in Syria

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Trump, Mattis turn military loose on ISIS, leaving terror caliphate in tatters

Hundreds of ISIS fighters had just been chased out of a northern Syrian city and were fleeing through the desert in long convoys, presenting an easy target to U.S. A-10 “warthogs.”

But the orders to bomb the black-clad jihadists never came, and the terrorists melted into their caliphate — living to fight another day. The events came in August 2016, even as then-Republican presidential nominee Donald Trump was vowing on the campaign trail to let generals in his administration crush the organization that, under President Obama, had grown from the “jayvee team” to the world’s most feared terrorist organization.

OIR_CROFT

U.S. Air Force Brig. Gen. Andrew Croft said the Trump administration has put a strong leadership team in place  (U.S. Army photo by Sgt. Tracy McKithern)

“I will…quickly and decisively bomb the hell out of ISIS,” Trump, who would name legendary Marine Corps Gen. James Mattis as secretary of defense, promised. “We will not have to listen to the politicians who are losing the war on terrorism.”

ISIS CURSED, MOCKED IN MOSUL, WHERE OLD CITY REMAINS A HAUNTED WASTELAND

Just over a year later, ISIS has been routed from Iraq and Syria with an ease and speed that’s surprised even the men and women who carried out the mission. Experts say it’s a prime example of a campaign promise kept. President Trump scrapped his predecessor’s rules of engagement, which critics say hamstrung the military, and let battlefield decisions be made by the generals in the theater, and not bureaucrats in Washington.

“I felt quite liberated because we had a clear mandate and there was no questioning that.”

– U.S. Marine Col. Seth Folsom

At its peak, ISIS held land in Iraq and Syria that equaled the size of West Virginia, ruled over as many as 8 million people, controlled oilfields and refineries, agriculture, smuggling routes and vast arsenals. It ran a brutal, oppressive government, even printing its own currency.

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Lt. Col. Seth Folsom credits the cooperation between Iraqi Security Forces and the U.S-led coalition for the military defeat of ISIS in Iraq.  (Courtesy U.S Army)

The terror organization now controls just 3 percent of Iraq and less than 5 percent of Syria. Its self-styled “caliph,” Abu Bakr al-Baghdadi, is believed to be injured and holed up somewhere along the lawless border of Syria and Iraq.

ISIS remains a danger, as members who once ruled cities and villages like a quasi-government now live secretly among civilian populations in the region, in Europe and possibly in the U.S. These cells will likely present a terrorist threat for years. In addition, the terrorist organization is attempting to regroup in places such as the Philippines, Libya and the Sinai Peninsula.

But the military’s job — to take back the land ISIS claimed as its caliphate and liberate cities like Mosul, in Iraq, and Raqqa, in Syria, as well as countless smaller cities and villages, is largely done. And it has taken less than a year.

Defense Secretary Jim Mattis waits to greet Polish Defense Minister Antoni Macierewicz, upon his arrival at the Pentagon, Thursday, Sept. 21, 2017, in Washington. (AP Photo/Alex Brandon)

Mattis, a US Marine Corps general, said there would be no White House micromanaging on his watch  (Associated Press)

“The leadership team that is in place right now has certainly enabled us to succeed,” Brig. Gen. Andrew Croft, the ranking U.S. Air Force officer in Iraq, told Fox News. “I couldn’t ask for a better leadership team to work for, to enable the military to do what it does best.”

President Trump gave a free hand to Mattis, who in May stressed military commanders were no longer being slowed by Washington “decision cycles,” or by the White House micromanaging that existed President Obama. As a result of the new approach, the fall of ISIS in Iraq came even more swiftly than hardened U.S. military leaders expected.

“It moved more quickly than at least I had anticipated,” Croft said. “We and the Iraqi Security Forces were able to hunt down and target ISIS leadership, target their command and control.”

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U.S. Marine Corps Brig. Gen. Robert Sofge said the military now has a clear mandate  (U.S. Army photo by Spc. Cole Erickson)

IRAQI KURDS STILL LOVE US DESPITE ITS OPPOSITION TO KURDISH INDEPENDENCE, SAYS KURDISH LEADER

After the battle to liberate Mosul – ISIS’ Iraqi headquarters – was completed in July — the U.S.-led coalition retook Tel Afar in August, Hawija in early October and Rawa in Anbar province in November.

Marine Col. Seth Folsom, who oversaw fighting in Al Qaim near the Syrian border, agreed. He wasn’t expecting his part of the campaign against ISIS to get going until next spring and figured even then, it would then “take six months or more.”

Instead, ISIS was routed in Al Qaim in just a few days.

mosul

Mosul, and several other cities liberated by ISIS, were largely destroyed in the fighting.  (Fox News/Hollie McKay)

“We really had one mandate and that was enable the Iraqi Security Forces to defeat ISIS militarily here in Anbar. I feel that we have achieved that mission,” Folsom said. “I never felt constrained. In a lot of ways, I felt quite liberated because we had a clear mandate and there was no questioning that.”

Brig. Gen. Robert “G-Man” Sofge, the top U.S. Marine in Iraq, told Fox News his commanders have “enjoyed not having to deal with too many distractions and there was no question about what the mission here in Iraq was.”

OIR_

Iraqi Brig. Gen. Yahya Rasool was skeptical of Trump at first, but says success on the ground has been swift  (Fox News/Hollie McKay )

“We were able to focus on what our job was without distraction and I think that goes a long way in what we are trying to accomplish here,” he said.

Sofge said criticism that loosening rules of engagement put civilians at risk is “absolutely not true.”

OIR_dillon

Col. Ryan Dillon. Combined Joint Task Force – Inherent Resolve Spokesman  (Photo by CJTFOIR)

“We used precision strikes, and completely in accordance with international standards,” he said. “We didn’t lower that standard, not one little bit. But we were able to exercise that precision capability without distraction and I think the results speak for themselves.”

The U.S.-led coalition said this week the Coalition Civilian Casualty Assessment Team has added 30 new staffers to travel throughout the region. It said military leaders continue to “hold themselves accountable for actions that may have caused unintentional injury or death to civilians.”

The coalition also said dozens of reports of civilian casualties have been determined to be “non-credible,” and just .35 percent of the almost 57,000 separate engagement carried out between August 2014 and October 2017 resulted in a credible report of a civilian casualty.

In addition to air support, the U.S.-led strategy also includes training and equipping Iraqi troops on the ground.

While the Trump administration’s success is often underplayed in the U.S. media, it is obvious on the ground in Iraq, according to a spokesman for Iraq’s Ministry of Defense, Yahya Rasool.

“I was not optimistic when Trump first came to the office,” Rasool said. “But after a while I started to see a new approach, the way the U.S. was dealing with arming and training. I saw how the coalition forces were all moving faster to help the Iraq side more than before. There seemed to be a lot of support, under Obama we did not get this.”

FILE - This file image made from video posted on a militant website July 5, 2014, purports to show the leader of the Islamic State group, Abu Bakr al-Baghdadi, delivering a sermon at a mosque in Iraq during his first public appearance. Islamic State group leader Abu Bakr al-Baghdadi appears to be still alive, a top U.S. military commander said Thursday, Aug. 31, 2017, contradicting Russia’s claims that it probably killed the top counterterror target months ago.(Militant video via AP, File)

Al-Baghdadi, who once ruled a caliphate the size of California, is now inn hiding and likely badly injured

Despite the victories on the battlefield, U.S. officials cautioned much work remains to be done.

“ISIS is very adaptive,” noted Col. Ryan Dillon, the U.S.-led coalition spokesman. “We are already seeing smaller cells and pockets that take more of an insurgent guerrilla type approach as opposed to an Islamic army or conventional type force. So we have got to be prepared for that.”

He said as a result the coalition is “adjusting some training efforts” so the Iraqi forces — upwards of 150,000 have already undergone training — are equipped to address such threats and ensure long-term stability.

Folsom said “the worst thing we could do” is not finish the job.

“If a country becomes a failed state, if it becomes a lawless region, you begin to set the conditions for what happened in the years before 9/11,” he said. “In those ungoverned spaces where we don’t know what is going on, that is where those seeds of extremism begin to blossom.”

 

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The Pronk Pops Show 999, November 10, 2017, Story 1: President Trump Delivers America First Address With Bilateral Trade Agreements With Nations That Want Free But Fair Trade At The Asia-Pacific Economic Cooperation (APEC) Summit in Da Nang, Vietnam — Videos — Story 2: From Crying To Screaming — Big Lie Media Joins Lying Lunatic Left Losers —   Sky Screaming — Trump Still President — Videos — Story 3: Let Voters of Alabama Decide Who They Want For Their Senator — Alabama Republican Senate Candidate, Roy Moore, Denies Accusations Made in Washington Post Attack Article  vs. Democratic Senate Candidate, Doug Jones, Supporter for Pro Abortion Planned Parenthood and Women Should Have The Right To Choose Killing Their Babies in The Womb — Denies Civil Rights Protection of Life To Babies Before Birth — Videos — Story 4: Remembering The Veterans in Music — Lili Marleen — We’ll Meet Again — Sky Pilot — We Gotta Get Out Of This Place — Paint it Black  – – War — Where Have All the Flowers Gone? — Blowing In The Wind –Videos

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Story 1: President Trump Delivers America First Address At Asia-Pacific Economic Cooperation (APEC) Summit in Da Nang, Vietman — Videos —

President Trump Speech in VIETNAM at the APEC Summit 11/10/17

President Trump delivers remarks at the APEC CEO Summit in Da Nang, Vietnam. – President Donald Trump adresses the Asia-Pacific Economic Cooperation Summit in Vietnam – President Trump Speech at APEC Summit in Vietnam 11/10/17

President Trump gives fiery speech in Vietnam

President Trump gives fiery speech in Vietnam

Remarks by President Trump at APEC CEO Summit | Da Nang, Vietnam

Ariyana Da Nang Exhibition Center

Da Nang, Vietnam

1:19 P.M. ICT

PRESIDENT TRUMP: What an honor it is to be here in Vietnam — in the very heart of the Indo-Pacific — to address the people and business leaders of this region.

This has already been a remarkable week for the United States in this wonderful part of the world. Starting from Hawaii, Melania and I traveled to Japan, South Korea, and China, and now to Vietnam, to be here with all of you today.

Before we begin, I want to address all those affected by Typhoon Damrey. Americans are praying for you and for your recovery in the months ahead. Our hearts are united with the Vietnamese people suffering in the aftermath of this terrible storm.

This trip comes at an exciting time for America. A new optimism has swept all across our country. Economic growth has reached 3.2 percent, and going higher. Unemployment is at its lowest level in 17 years. The stock market is at an all-time high. And the whole world is lifted by America’s renewal.

Everywhere I’ve traveled on this journey, I’ve had the pleasure of sharing the good news from America. But even more, I’ve had the honor of sharing our vision for a free and open Indo-Pacific — a place where sovereign and independent nations, with diverse cultures and many different dreams, can all prosper side-by-side, and thrive in freedom and in peace.

I am so thrilled to be here today at APEC, because this organization was founded to help achieve that very purpose. America stands as a proud member of the community of nations who make a home on the Pacific. We have been an active partner in this region since we first won independence ourselves.

In 1784, the first American ship sailed to China from the newly independent United States. It went loaded with goods to sell in Asia, and it came back full of porcelain and tea. Our first president, George Washington himself, owned a set of tableware from that ship.

In 1804, Thomas Jefferson sent the explorers, Lewis and Clark, on an expedition to our Pacific Coast. They were the first of the millions of Americans who ventured west to live out America’s manifest destiny across our vast continent.

In 1817, our Congress approved the first full-time Pacific development [deployment] of an American warship. That initial naval presence soon grew into a squadron, and then a fleet, to guarantee freedom of navigation for the growing number of ships, braving the high seas to reach markets in the Philippines, Singapore, and in India.

In 1818, we began our relationship with the Kingdom of Thailand, and 15 years later our two countries signed a treaty of friendship and commerce — our first with an Asian nation.

In the next century, when imperialist powers threatened this region, the United States pushed back at great cost to ourselves. We understood that security and prosperity depended on it.

We have been friends, partners, and allies in the Indo-Pacific for a long, long time, and we will be friends, partners, and allies for a long time to come.

As old friends in the region, no one has been more delighted than America to witness, to help, and to share in the extraordinary progress you have made over the last half-century.

What the countries and economies represented here today have built in this part of the world is nothing short of miraculous. The story of this region in recent decades is the story of what is possible when people take ownership of their future.

Few would have imagined just a generation ago that leaders of these nations would come together here in Da Nang to deepen our friendships, expand our partnerships, and celebrate the amazing achievements of our people.

This city was once home to an American military base, in a country where many Americans and Vietnamese lost their lives in a very bloody war.

Today, we are no longer enemies; we are friends. And this port city is bustling with ships from around the world. Engineering marvels, like the Dragon Bridge, welcome the millions who come to visit Da Nang’s stunning beaches, shining lights, and ancient charms.

In the early 1990s, nearly half of Vietnam survived on just a few dollars a day, and one in four did not have any electricity. Today, an opening Vietnamese economy is one of the fastest-growing economies on Earth. It has already increased more than 30 times over, and the Vietnamese students rank among the best students in the world. (Applause.) And that is very impressive.

This is the same story of incredible transformation that we have seen across the region. Indonesians for decades have been building domestic and democratic institutions to govern their vast chain of more than 13,000 islands. Since the 1990s, Indonesia’s people have lifted themselves from poverty to become one of the fastest-growing nations of the G20. Today, it is the third-largest democracy on Earth.

The Philippines has emerged as a proud nation of strong and devout families. For 11 consecutive years, the World Economic Forum has ranked the Philippines first among Asian countries in closing the gender gap and embracing women leaders in business and in politics. (Applause.)

Kingdom of Thailand has become an upper middle-income country in less than a generation. Its majestic capital of Bangkok is now the most visited city on Earth. And that is very impressive. Not too many people here are from Thailand. (Applause.)

Malaysia has rapidly developed through recent decades, and it is now ranked as one of the best places in the world to do business.

In Singapore, citizens born to parents who survived on $500 dollars a day [year] are now among the highest earners in the world — a transformation made possible by the vision of Lee Kwan Yew’s vision of honest governance and the rule of law. (Applause.) And his great son is now doing an amazing job.

As I recently observed in South Korea, the people of that Republic took a poor country ravaged by war, and in just a few decades turned it into one of the wealthiest democracies on Earth. Today, South Koreans enjoy higher incomes than the citizens of many European Union countries. It was great spending time with President Moon.

Everyone knows of China’s impressive achievements over the past several decades. During this period — and it was a period of great market reforms — large parts of China experienced rapid economic growth, jobs boomed, and more than 800 million citizens rose out of poverty. I just left China this morning and had a really productive meeting and a wonderful time with our gracious host, President Xi.

And, as I saw on my first stop of this trip, in Japan we see a dynamic democracy in a land of industrial, technological, and cultural wonders. In fewer than 60 years, that island nation has produced 24 Nobel Prize winners for achievements in physics, chemistry, medicine, literature, and the promotion of peace. (Applause.) President Abe and I agree on so much.

In the broader region, countries outside of APEC are also making great strides in this new chapter for the Indo-Pacific.

India is celebrating the 70th anniversary of its independence. It is a sovereign democracy, as well as — think of this — over 1 billion people. It’s the largest democracy in the world. (Applause.) Since India opened its economy, it has achieved astounding growth and a new world of opportunity for its expanding middle class. And Prime Minister Modi has been working to bring that vast country, and all of its people, together as one. And he is working at it very, very successfully, indeed.

As we can see, in more and more places throughout this region, citizens of sovereign and independent nations have taken greater control of their destinies and unlocked the potential of their people.

They’ve pursued visions of justice and accountability, promoted private property and the rule of law, and embraced systems that value hard work and individual enterprise.

They built businesses, they built cities, they built entire countries from the ground up. Many of you in this room have taken part in these great, uplifting national projects of building. They have been your projects from inception to completion, from dreams to reality.

With your help, this entire region has emerged — and it is still emerging — as a beautiful constellation of nations, each its own bright star, satellites to none — and each one, a people, a culture, a way of life, and a home.

Those of you who have lived through these transformations understand better than anyone the value of what you have achieved. You also understand that your home is your legacy, and you must always protect it.

In the process of your economic development, you’ve sought commerce and trade with other nations, and forged partnerships based on mutual respect and directed toward mutual gain.

Today, I am here to offer a renewed partnership with America to work together to strengthen the bonds of friendship and commerce between all of the nations of the Indo-Pacific, and together, to promote our prosperity and security.

At the core of this partnership, we seek robust trade relationships rooted in the principles of fairness and reciprocity. When the United States enters into a trading relationship with other countries or other peoples, we will, from now on, expect that our partners will faithfully follow the rules just like we do. We expect that markets will be open to an equal degree on both sides, and that private industry, not government planners, will direct investment.

Unfortunately, for too long and in too many places, the opposite has happened. For many years, the United States systematically opened our economy with few conditions. We lowered or ended tariffs, reduced trade barriers, and allowed foreign goods to flow freely into our country.

But while we lowered market barriers, other countries didn’t open their markets to us.

AUDIENCE MEMBER: (Inaudible.)

PRESIDENT TRUMP: Funny. They must have been one of the beneficiaries. (Applause.) What country do you come from, sir?

Countries were embraced by the World Trade Organization, even if they did not abide by its stated principles. Simply put, we have not been treated fairly by the World Trade Organization. Organizations like the WTO can only function properly when all members follow the rules and respect the sovereign rights of every member. We cannot achieve open markets if we do not ensure fair market access. In the end, unfair trade undermines us all.

The United States promoted private enterprise, innovation, and industry. Other countries used government-run industrial planning and state-owned enterprises.

We adhered to WTO principles on protecting intellectual property and ensuring fair and equal market access. They engaged in product dumping, subsidized goods, currency manipulation, and predatory industrial policies.

They ignored the rules to gain advantage over those who followed the rules, causing enormous distortions in commerce and threatening the foundations of international trade itself.

Such practices, along with our collective failure to respond to them, hurt many people in our country and also in other countries. Jobs, factories, and industries were stripped out of the United States and out of many countries in addition. And many opportunities for mutually beneficial investments were lost because people could not trust the system.

We can no longer tolerate these chronic trade abuses, and we will not tolerate them. Despite years of broken promises, we were told that someday soon everyone would behave fairly and responsibly. People in America and throughout the Indo-Pacific region have waited for that day to come. But it never has, and that is why I am here today — to speak frankly about our challenges and work toward a brighter future for all of us.

I recently had an excellent trip to China, where I spoke openly and directly with President Xi about China’s unfair trade practices and the enormous trade deficits they have produced with the United States. I expressed our strong desire to work with China to achieve a trading relationship that is conducted on a truly fair and equal basis.

The current trade imbalance is not acceptable. I do not blame China or any other country, of which there are many, for taking advantage of the United States on trade. If their representatives are able to get away with it, they are just doing their jobs. I wish previous administrations in my country saw what was happening and did something about it. They did not, but I will.

From this day forward, we will compete on a fair and equal basis. We are not going to let the United States be taken advantage of anymore. I am always going to put America first the same way that I expect all of you in this room to put your countries first. (Applause.)

The United States is prepared to work with each of the leaders in this room today to achieve mutually beneficial commerce that is in the interest of both your countries and mine. That is the message I am here to deliver.

I will make bilateral trade agreements with any Indo-Pacific nation that wants to be our partner and that will abide by the principles of fair and reciprocal trade. What we will no longer do is enter into large agreements that tie our hands, surrender our sovereignty, and make meaningful enforcement practically impossible.

Instead, we will deal on a basis of mutual respect and mutual benefit. We will respect your independence and your sovereignty. We want you to be strong, prosperous, and self-reliant, rooted in your history, and branching out toward the future. That is how we will thrive and grow together, in partnerships of real and lasting value.

But for this — and I call it the Indo-Pacific dream — if it’s going to be realized, we must ensure that all play by the rules, which they do not right now. Those who do will be our closest economic partners. Those who do not can be certain that the United States will no longer turn a blind eye to violations, cheating, or economic aggression. Those days are over.

We will no longer tolerate the audacious theft of intellectual property. We will confront the destructive practices of forcing businesses to surrender their technology to the state, and forcing them into joint ventures in exchange for market access.

We will address the massive subsidizing of industries through colossal state-owned enterprises that put private competitors out of business — happening all the time.

We will not remain silent as American companies are targeted by state-affiliated actors for economic gain, whether through cyberattacks, corporate espionage, or other anti-competitive practices. We will encourage all nations to speak out loudly when the principles of fairness and reciprocity are violated.

We know it is in America’s interests to have partners throughout this region that are thriving, prosperous, and dependent on no one. We will not make decisions for the purpose of power or patronage. We will never ask our partners to surrender their sovereignty, privacy, and intellectual property, or to limit contracts to state-owned suppliers.

We will find opportunities for our private sector to work with yours and to create jobs and wealth for us all. We seek strong partners, not weak partners. We seek strong neighbors, not weak neighbors. Above all, we seek friendship, and we don’t dream of domination.

For this reason, we are also refocusing our existing development efforts. We are calling on the World Bank and the Asian Development Bank to direct their efforts toward high-quality infrastructure investment that promotes economic growth.

The United States will also do its part. We are also committed to reforming our development finance institutions so that they better incentivize private sector investment in your economies, and provide strong alternatives to state-directed initiatives that come with many strings attached.

The United States has been reminded time and time again in recent years that economic security is not merely related to national security. Economic security is national security. It is vital — (applause) — to our national strength.

We also know that we will not have lasting prosperity if we do not confront grave threats to security, sovereignty, and stability facing our world today.

Earlier this week, I addressed the National Assembly in Seoul, South Korea and urged every responsible nation to stand united in declaring that every single step the North Korean regime takes toward more weapons is a step it takes into greater and greater danger. The future of this region and its beautiful people must not be held hostage to a dictator’s twisted fantasies of violent conquest and nuclear blackmail.

In addition, we must uphold principles that have benefitted all of us, like respect for the rule of law — (applause) — individual rights, and freedom of navigation and overflight, including open shipping lanes. Three principles and these principles — (applause) — create stability and build trust, security, and prosperity among like-minded nations.

We must also deal decisively with other threats to our security and the future of our children, such as criminal cartels, human smuggling, drugs, corruption, cybercrime, and territorial expansion. As I have said many times before: All civilized people must come together to drive out terrorists and extremists from our societies, stripping them of funding, territory, and ideological support. We must stop radical Islamic terrorism.

So let us work together for a peaceful, prosperous, and free Indo-Pacific. I am confident that, together, every problem we have spoken about today can be solved and every challenge we face can be overcome.

If we succeed in this effort, if we seize the opportunities before us and ground our partnerships firmly in the interests of our own people, then together we will achieve everything we dream for our nations and for our children.

We will be blessed with a world of strong, sovereign, and independent nations, thriving in peace and commerce with others. They will be places where we can build our homes and where families, businesses, and people can flourish and grow.

If we do this, will we look at the globe half a century from now, and we will marvel at the beautiful constellation of nations — each different, each unique, and each shining brightly and proudly throughout this region of the world. And just as when we look at the stars in the night sky, the distance of time will make most of the challenges we have and that we spoke of today seem very, very small.

What will not seem small — what is not small — will be the big choices that all of our nations will have to make to keep their stars glowing very, very brightly.

In America, like every nation that has won and defended its sovereignty, we understand that we have nothing so precious as our birthright, our treasured independence, and our freedom.

That knowledge has guided us throughout American history. It has inspired us to sacrifice and innovate. And it is why today, hundreds of years after our victory in the American Revolution, we still remember the words of an American founder and our second President of the United States, John Adams. As an old man, just before his death, this great patriot was asked to offer his thoughts on the 50th anniversary of glorious American freedom. He replied with the words: independence forever.

It’s a sentiment that burns in the heart of every patriot and every nation. Our hosts here in Vietnam have known this sentiment not just for 200 years, but for nearly 2,000 years. (Applause.) It was around 40 AD when two Vietnamese sisters, the Trung Sisters, first awakened the spirit of the people of this land. It was then that, for the first time, the people of Vietnam stood for your independence and your pride.

Today, the patriots and heroes — (applause) — of our histories hold the answers to the great questions of our future and our time. They remind us of who we are and what we are called to do.

Together, we have it in our power to lift our people and our world to new heights — heights that have never been attained,

So let us choose a future of patriotism, prosperity, and pride. Let us choose wealth and freedom over poverty and servitude. Let us choose a free and open Indo-Pacific.

Finally, let us never forget the world has many places — (applause) — many dreams, and many roads. But in all of the world, there is no place like home.

so, for family, for country, for freedom, for history, and for the glory of God, protect your home, defend your home, and love your home today and for all time. (Applause.)

Thank you. God Bless You. God Bless the Pacific region. And God Bless the United States of America. Thank you very much. Thank you. (Applause.)

END

https://www.whitehouse.gov/the-press-office/2017/11/10/remarks-president-trump-apec-ceo-summit-da-nang-vietnam

 Story 2: From Crying To Screaming — Big Lie Media Joins Lying Lunatic Left Losers —   Sky Screaming — One Year After Trump Elected President — Videos 

Protesters ‘Scream At The Sky’ On Anniversary Of Trump Election

Raw video: Protesters scream at the sky on Trump election anniversary

Liberals scream at sky on anniversary of Hillary’s loss

Trump protestors ‘scream helplessly’ in Washington Square Park to mark one year election anniversary

Peak Moral Outrage Achieved by the “Left”: Screaming at the Sky Helplessly Due to Trump

Ben Shapiro – The Reason Why The left Can’t Stop Screaming At The Sky

Ben Shapiro – The Left Have Officially Lost Their Minds

One Year Later: America Reacts to the Election of Donald Trump

Trump: One Year Later

Story 3: Let Voters of Alabama Decide Who They Want For Their Senator — Alabama Republican Senate Candidate, Roy Moore, Denies Accusations Made in Washington Post Attack Article  vs. Democratic Senate Candidate, Doug Jones, Supporter for Pro Abortion Planned Parenthood  and Women Should Have The Right To Choose Killing Her Baby in The Womb — Denies Civil Rights Protection of Life To Babies Before Birth — Videos

“It NEVER Happened!” Roy Moore DEFENDS Himself in NEW Hannity Interview

Roy Moore responds to allegations of sexual misconduct

Hannity: Don’t rush to judgement over Roy Moore

Roy Moore slams Washington Post report as ‘fake news’

David Wohl: Allegations against Roy Moore don’t hold water

Katie Hopkins on Roy Moore Sexual Assault Allegations

Michelle Malkin on Roy Moore and the NFL

Judge Roy Moore’s Victory Speech in Alabama (Sweet Home)

Judge Roy S. Moore

Acknowledge God: The Story of Roy Moore

Roy Moore for Senate

Born to Fight

Defeat the Deceivers

“This is Going to Be About the People of Alabama”

Dem Senate Hopeful Doug Jones Explains When He Becomes ‘Right To Lifer’: Only ‘Once A Baby Is Born’

Who is Doug Jones, and can he defeat Roy Moore in conservative Alabama?

Doug Jones still trails Roy Moore in Senate race. NBC 15 News, WPMI

Doug Jones commits political suicide in Alabama Senate Race!

Interview with Doug Jones

Had Enough?

Doug Jones: Birmingham changed when bad things happened

Roy Moore Denies Teen Sex Abuse Allegations in Interview With Hannity: ‘It Never Happened’

Roy Moore is continuing to deny the blockbuster allegations that he pursued relationships with four teenage women while he was in his 30s.

“It never happened,” Moore said Friday on The Sean Hannity Show

In his first interview since the Washington Post published the explosive claims, Moore — the Republican nominee for the U.S. Senate in Alabama — appeared on Sean Hannity‘s radio show Friday. The former Alabama Supreme Court justice told the host that

“These allegations are completely false and misleading,” Moore said. “But more than that, it hurts me personally because, you know I’m a father. I have one daughter. I have five granddaughters. And I have a special concern for the protections of young ladies. This is really hard to get on radio and explain this. These allegations are just completely false.”

A new poll taken just after the allegations were made public showed Moore in a dead heat with Democratic opponent Doug Jones — numbers that can only be considered incredibly weak for a Republican in Alabama, which has not had a Democratic Senator since 1994.

Many prominent Republicans are calling on Moore to step aside. But the Republican nominee says he’s staying in the race.

Moore said that he believed the allegations were politically motivated.

“I believe they’re politically motivated,” Moore said. “I believe they were brought on to stop a very successful campaign. And that’s what they’re doing.

Hannity went through the Post story and detailed the allegations of the four accusers. Moore claimed to know two of four, but denied any instance of misconduct with either. In response to the allegations involving Debbie Wesson Gibson, Moore said,

“I don’t remember going out on dates. I knew her as a friend. If we did go out on dates, then we did. But I don’t remember that.”

Moore released another statement during his interview, presented in full below via Phil Mattingly of CNN.

Listen above, via The Sean Hannity Show. (You can check out part two here.)

https://www.mediaite.com/online/roy-moore-denies-teen-sex-abuse-allegations-in-interview-with-hannity-it-never-happened/

 

Roy Moore is pictured. | AP Photo
Roy Moore has adamantly denied the allegations and insisted he will remain in the race. | Brynn Anderson/AP

Moore defiant as Senate Republicans sever ties

The GOP Senate campaign arm withdrew from a fundraising pact with the party’s Alabama nominee.

Updated

But Moore and his backers remained defiant, portraying accusations that he initiated sexual contact with teenagers decades ago as a conspiracy by his opponents to drag down his candidacy.

The move by the National Republican Senatorial Committee came a day after The Washington Post reported the accounts of four women who alleged that Moore, as a man in his 30s, had pursued them as teenagers. One of the woman said he initiated sexual contact with her as a 14-year-old.

Two Republican senators rescinded their endorsements of Moore on Friday evening, with Steve Daines of Montana and Mike Lee of Utah pulling their support.

“Having read the detailed description of the incidents, as well as the response from Judge Moore and his campaign, I can no longer endorse his candidacy for the US Senate,” Lee wrote on Twitter.

Pressure also intensified on Friday for Moore to exit the race from national Republicans who opposed him in the primary and have never felt comfortable with the controversial former judge.

“Moore is unfit for office and should step aside,” Mitt Romney, the party’s 2012 nominee, wrote on Twitter.

The Alabama Republican, however, has adamantly denied the allegations and insisted he will remain in the race.

Appearing on Sean Hannity’s radio show on Friday afternoon, Moore said he did not know his accuser, Leigh Corfman.

“I’ve never talked to her, never had any contacts with her. Allegations of sexual misconduct with her are completely false. I believe they’re politically motivated,” he said. “I believe they’re brought only to stop a very successful campaign, and that’s what they’re doing. I have never known this woman or anything.”

Moore’s spouse, Kayla, wrote a fundraising appeal in which she called on supporters to rally around her husband’s candidacy.

“Knowing you’re standing with him in his corner helps lift Roy’s spirits and encourages him to continue slugging it out with everything he’s got against the forces of evil,” she wrote.

While the Senate GOP campaign arm has ended its fundraising arrangement with Moore, he still has one with the Republican National Committee. Top officials with the committee, who have been in talks with the White House, are still trying to determine whether to sever its ties with the candidate. The RNC also has field staffers in Alabama.

After the story broke on Thursday, RNC Chairwoman Ronna Romney McDaniel spoke by phone with White House political director Bill Stepien. Yet as of Friday afternoon, she still had not connected with President Donald Trump, who is traveling abroad in Asia.

Throughout his Alabama Senate primary against Sen. Luther Strange, Moore pummeled the Republican establishment practically on a daily basis. Senate Majority Leader Mitch McConnell and strategist Karl Rove were his favorite punching bags.

But there was no love lost in either direction. The NRSC campaigned against Moore, and a McConnell-backed super PAC spent millions casting Moore, who was twice removed from the Alabama Supreme Court for defying federal orders, as unfit for the Senate.

Nonetheless, the two sides made up, at least formally, after the election. In late October, Moore’s campaign entered into a fundraising pact with the RNC, the NRSC and the Alabama Republican Party.

But paperwork filed with the Federal Election Commission on Friday showed that the NRSC is no longer listed as part of a joint fundraising committee with Moore’s campaign.

“The allegations against Alabama Senate candidate Roy Moore are deeply troubling. If these allegations are found to be true, Roy Moore must drop out of the Alabama special Senate election,” NRSC Chairman Cory Gardner (R-Colo.) said in a statement Thursday.

The joint fund, dubbed Alabama 2017 Senate Victory Committee, allowed Moore to raise $80,500 at a time from individual contributors.

Moore is running against Democrat Doug Jones, a former U.S. attorney, to fill the seat of now-Attorney General Jeff Sessions in the staunchly conservative state. The election is on Dec. 12.

The revelations have given Democrats hope in a race few thought was winnable for the party. Democrats took no new significant public steps to support Jones on Thursday or Friday, though a series of prominent Senate Democrats sent out fundraising emails for him.

The Democratic Senatorial Campaign Committee has been monitoring the race closely for months, and remains in close contact with Jones’ campaign team. But national Democrats are wary of weighing in heavily given the party’s toxic brand in the state.

Republicans are racing to find ways to keep their hold on the seat, which was occupied by Jeff Sessions until he became attorney general. Some in the party are encouraging Strange, a former state attorney general who was temporarily appointed to the seat in February, to wage a long-shot write-in campaign.

Yet Strange has expressed little interest in the idea, said one person with direct knowledge of the discussions.

Moore and his supporters, including Breitbart chief Steve Bannon, have tried to turn the crisis into a rallying cry for his supporters.

In his Hannity appearance, Moore said his campaign had launched an “investigation” into the emergence of the story and found evidence of “collusion,” though he did not elaborate on what he meant.

“This is a hit job from the ultra-liberal Washington press seeking to not only destroy Judge Moore but the conservative movement sweeping America,” said Moore campaign chairman Bill Armistead. “Ultimately, the truth will be known about what is going on to keep Judge Moore out of the Senate.”

https://www.politico.com/story/2017/11/10/nrsc-drops-out-of-fundraising-agreement-with-moore-244783

 

Ed Henry on Moore accusations: I’m not buying it

Ed Henry
State Rep. Ed Henry, R-Hartselle, is seen in this Times file photo.

Amanda Shavers-Davis | The Cullman Times

State Rep. Ed Henry lashed out at Roy Moore’s accusers and Republicans who said the U.S. Senate candidate should back out of the special election in an interview Thursday evening with The Times.

Henry, R-Hartselle, who represents a portion of Cullman County, said he suspects the timing of the stories told by five women about Moore’s alleged sexual advancements 40 years ago, as told to The Washington Post, are politically motivated as the Dec. 12 special election nears. Moore will face Democrat Doug Jones, a former U.S. attorney.

“The idea that accusations like this would stop his campaign is ludicrous. If this was a habit, like you’ve read with Bill Cosby and millions of dollars paid to settle cases and years of witnesses, that would be one thing,” Henry said. “You cannot tell me there hasn’t been an opportunity through the years to make these accusations with as many times as he’s (Moore) run (for office) and been in the news.

Henry said he believes legal action should be considered against Moore’s accusers, finding their story unbelievable.

“If they believe this man is predatory, they are guilty of allowing him to exist for 40 years. I think someone should prosecute and go after them. You can’t be a victim 40 years later, in my opinion,” Henry said.

The Alabama lawmaker said Moore is a threat to “establishment” lawmakers on the national level, including in the Republican Party.

“(Senate Majority Leader Mitch) McConnell and (Arizona Sen.) John McCain, what they said about Moore ending his campaign just really gets to me. They are two of the biggest goobers we have in Washington D.C.,” Henry said. “Even (U.S. Sen. Richard) Shelby was a coward with his comments. He’s not going to like Roy Moore because Shelby was a Democrat for a long time. Everyone close to the establishment is going to love this.”

Henry said he believes Moore’s accusers have been stoked by the Democratic Party and may be paid money eventually for their actions.

“I’m not buying it,” Henry said. “It’s too easy for someone to make these accusations. It’s foolish to go down that road, it’s like what if a frog had wings, he wouldn’t bump his ass every time he jumps.”

The winner of the Dec. 12 election will fill the seat vacated by U.S. Attorney General Jeff Sessions. The Senate seat is currently held by Sen. Luther Strange, who was appointed to the position by former Gov. Robert Bentley. Strange lost to Moore in the Republican primary runoff.

http://www.cullmantimes.com/news/ed-henry-on-moore-accusations-i-m-not-buying-it/article_ddb8650a-c5cd-11e7-be2c-1f9ffb09ccc5.html

Abortion clearly a ‘difficult issue’ for Alabama Democrats as Doug Jones pushes pro-choice stance

U.S. Senate candidate Doug Jones at an event at the BJCC in Birmingham, Alabama, on Tuesday October 3, 2017. (Joe Songer | jsonger@al.com).
U.S. Senate candidate Doug Jones at an event at the BJCC in Birmingham, Alabama, on Tuesday October 3, 2017. (Joe Songer | jsonger@al.com).

After Josh Crowley listened to Doug Jones’ interview with NBC’s Chuck Todd late last month, he took to Facebook and urged his friends to ignore the Senate hopeful’s pro-choice stance on abortion.

“Too many Christians look at just the issue of abortion in making their political decisions, but there is so much more that has the potential for legislation at the national level,” said Crowley, 27, a University of South Alabama student who describes himself as pro-life, and a Jones supporter. “I think it’s obvious that the abortion issue can really get in the way for any liberal candidates.”

Jones, the Democratic opponent of strongly conservative Roy Moore in the Dec. 12 Senate election, raised some eyebrows among political observers in Alabama and elsewhere after he said during the Todd interview that he would not support legislation to ban abortion after 20 weeks of pregnancy. The U.S. House approved a similar measure,largely along partisan lines, which would make the practice illegal.

The Jones campaign, last week, doubled-down on the candidate’s pro-choice platform: “I support a woman’s right and freedom to choose what to do with her body. This is a decision between a woman, her doctor and her Lord. Who am I to tell a woman what to do with her body?”

Jones, in a statement, added, “I also support Planned Parenthood because they provide cancer screening, breast exams, contraceptives, prenatal care, and other vital, sometimes life-saving, services to hundreds of thousands of women. These are my beliefs.”

‘Liberal view’

Jones’ statement underscores a vexing cultural issue conundrum for Democrats in Alabama, who haven’t won a statewide race in nearly a decade and haven’t occupied one of the state’s two Senate seats since 1992. But with Jones, many Democrats believe, they have a good opportunity of pulling an electoral upset over Moore, who is a far-right ex-judge twice booted from the bench for violating federal orders.

“Republicans have to make this election be about abortion and the national Democratic Party because they know that if his election is about their candidate, they stand a good chance at losing,” said state Rep. Craig Ford, D-Gadsden, the former minority leader of the Alabama House. “They see abortion as a way to keep moderate Republicans who are turned off by Roy Moore from voting for a Democrat.”

Abortion politics in Alabama seem to weigh heavily in the Republican Party’s favor. Alabama is one of the top states in the U.S. for voters who identify as Christians. Nearly half identify as evangelical Protestants – a group that largely consists of white and conservative-leaning voters.

According to the most recent Pew Research Center’s study, 58 percent of Alabama residents believe abortion should be illegal in all or most cases, while only 37 percent believe it should be legal. Only Arkansas (at 60 percent) and Mississippi (at 59 percent) have a higher percentage of residents who want to criminalize abortions.

Alabama’s statistics contrast with the national split over the issue, according to a Gallup poll taken in early May. But the same poll showed that 71 percent of Democrats call themselves “pro-choice,” the highest that statistic has been in at least 17 years.

Republicans, including Moore – the former Alabama Supreme Court Chief Justice who won last month’s GOP runoff against Senator Luther Strange, for the right to face off against Jones – are on the attack.

A Moore campaign spokeswoman, last week, said Jones’ comments are “the most liberal, extremist view” on abortion.

“Doug Jones’ views on abortion are way out of line on how a larger majority of Alabamians feel on the issue,” said Brent Buchanan, a Montgomery-based Republican strategist. “There is a strong contingent of people in our state which this is a make or break issue for them.”

Democratic supporters, however, are countering with appreciation toward Jones’ stance, which they believe is a “genuine response.”

Zac McCrary, a Democratic pollster based in Montgomery, said he believes most Alabamians are “sort of the middle” of the issue, and while they support some abortion restrictions, they do not want government interfering in someone’s personal choices.

‘Difficult’ issue

Ford, though, acknowledges the difficulty the issue poses for Democrats not only in Alabama, but elsewhere. He noted the differences between national Democratic leaders like Nancy Pelosi and Chuck Schumer, who support inclusion of pro-life Democrats into the party fold, and the National Democratic Party led by Chairman Tom Perez, who said in April that pro-choice is “non-negotiable” and shouldn’t vary by geography.

The abortion debate for Democrats comes ahead of the 2018 midterm elections, when the party defends a number of Senate seats in traditionally red states.

“The National Democratic Party has made it difficult for pro-life people to feel welcome in the party,” said Ford. “Most of the elected officials who have switched parties in Alabama over the last six or seven years have cited abortion as a key reason for leaving. It’s definitely a problem for Democrats in conservative states.”

Thomas Groome, a professor of theology and religious studies at Boston University, addressed the issue in a New York Times piece in March, when he blamed Democrat Hillary Clinton’s struggles nationally to the abortion issue.

“It’s almost like the Democrats have made it a litmus test to support Roe v. Wade,” Groome said, referring to the landmark 1973 Supreme Court case which gave women the right to choose whether to have an abortion during the first trimester. “To say ‘I’m supporting Roe v. Wade,’ that opinion is so dated now. Eighty percent of people don’t want to criminalize abortion, but a majority favors some sort of time limit (before receiving one).

Matthew Tyson, a marketing strategist and a member of the Calhoun County Democratic Committee, is a pro-life Democrat who has done research with Democrats for Life of America. But he, too, has faced backlash from other liberals and progressives who have told him that he has no place within the Democratic Party.

“The fact that Democrats put so much emphasis on abortion has to be one of the worst branding mistakes in the last 50 years,” he said.

He said a main reasons why groups he supports continue to work with Democrats is because of their platform – living wages, health care, better sex education, child care support, etc. – “goes a long way to address those ‘root causes'” which leads to women seeking an abortion.

“Outlawing abortion won’t make abortions go away, nor will it do anything to help women in a crisis pregnancy,” he said. “I believe we need to first attack the social pressures that would require a woman to abort in the first place.”

Tyson and Groome both believe that the issue could hinder Jones’ prospects at winning the Senate seat. Polls show that Moore has a 6 to 8 percent lead over his Democratic rival, representing a much tighter race than Moore had against his GOP rival, Strange. Most pre-election polls showed Moore with a commanding lead over Strange ahead of the Sept. 26 runoff.

“I can’t for the life of me figure out why Jones would put such a clear pro-choice stance at the forefront of his campaign,” Tyson said. “I think perhaps he’s putting too much faith in the ‘kitchen table issues’ approach, and hoping that Alabamians will put aside their differences on abortion to come together for jobs, education, etc.”

He added, “Most of the people Jones needs to win … for them, it’s a make or break issue, so you cannot come out with the traditional Democratic stance, especially in Alabama. His stance may not drive Republicans to vote for Moore, but it could encourage them to just stay home. He can’t afford that.”

Groome said Jones should focus more on effective social services that lead to a reduction in abortions, such as easier access to birth control. He noted that abortion rates continue to decline, reaching historic lows in 2013 and 2014, and researchers believe it’s due to improved contraception use. Unintended pregnancies declined from 2008-2011,after experiencing an increase from 2001-2008.

“When you deny people social services, the abortion rate skyrockets,” Groome said. “The Republican policies cause abortions and it is too bad Mr. Jones didn’t say that.”

‘Political damage’

Longtime political observers in Alabama believe that Jones has waded into a difficult political position in Alabama, where hot-button cultural issues can swamp economic messages during a campaign.

Steve Flowers, a former Republican member of the Alabama House who now writes a political column that appears in more than 60 newspapers around the state, said Alabama voters historically tend to be “driven by race and religion” whereas “most states in the country are driven by economic issues.”

Indeed, Jones’ platform has focused more on economic issues, the environment, and civil rights. Jones, in the early 2000s, led the successful prosecution of two Ku Klux Klan members for their role in the 1963 bombing of the 16th Street Baptist Church in Birmingham.

Jess Brown, a retired political science professor at Athens State University, said that Jones needs to maintain focus on economics. If social issues – such as abortion, same-sex marriage and gun rights – dominate the campaign, “then the Dems lose in Bama.”

William Stewart, a professor emeritus of political sciences at the University of Alabama, said that despite the recent massacre in Las Vegas, gun rights are likely not to rise to the top of social concerns during the Senate campaign. Instead, he said, abortion is likely to become a more discussed topic following the addition of conservative Neil Gorsuch to the U.S. Supreme Court.

“With more Trump appointees on the Supreme Court, Roe v. Wade could be reversed or at least modified to allow states to put more restrictions on abortions,” Stewart said. “No matter what bread and butter issues (Jones) discusses, Alabamians will not be persuaded if they are reminded of Mr. Jones’ position on abortion.”

Quin Hillyer, a conservative columnist based in Mobile, said that Jones’ position on abortion is a problem for his candidacy.

“Because he has stated his position so openly, there is almost nothing he can say now that would lessen the political damage his stance causes him,” Hillyer said.

Flowers said he wouldn’t be surprised to see Moore ads targeting the issue, especially if the race tightens between the two around Thanksgiving.

“You have to respect his position,” Flowers said about Jones. “But I don’t think he’s in the mainstream of Alabama.”

http://www.al.com/news/mobile/index.ssf/2017/10/post_114.html

Watch: Abortion Extremist Doug Jones Highlighted in Ad

A newly released ad by Great America Alliance is highlighting Democratic Senate candidate Doug Jones’s extreme view on abortion that holds unborn babies have no right to life until they are born.

The ad confronts Jones’s statement he is a “right-to-lifer” – once a baby is born.

As Breitbart News reported, Jones told MSNBC’s MTP Daily host Chuck Todd, “Well, look I am a firm believer that a woman should have the freedom to choose what happens to her own body. And I’m going to stand up for that and I’m going to make sure that that continues to happen.”

When asked about gruesome late-term abortions, Jones added he is “not in favor of anything that is going to infringe on a woman’s right and her freedom to choose.”

Judge Roy Moore – Jones’s Republican opponent – clearly states his pro-life position and his specific call for defunding Planned Parenthood on his campaign website:

I oppose abortion, same-sex marriage, civil unions, and all other threats to the traditional family order.

Federal funding for Planned Parenthood or any form of abortion should be stopped.

“Doug Jones is completely out of step with Alabama values and voters must know the disturbing truth about his position on this issue,” said Eric Beach, Co-chair of the Alliance. “Claiming to be ‘right to life’ when he holds such extreme views on abortion is absurd and insults the intelligence of the voters he claims he wants to represent. When Alabama knows the truth, his tenuous support in the state will drop like a rock.”

National pro-life organization Susan B. Anthony List President Marjorie Dannenfelser condemned Jones’s position in a statement:

Doug Jones clearly has no problem with the fact that the U.S. is only one of seven nations – alongside North Korea and China – to allow elective abortion on-demand after five months. His extremism puts him dramatically out of step with Alabama voters.

Dannenfelser adds that Alabama is one of 20 states that approved a limit on late-term abortions.

“Polls consistently show that a large majority of Americans – women in higher numbers than men – support bringing our national laws into line with basic human decency,” she said. “Jones is out to impress the big abortion lobby but this does nothing for his chances against Judge Moore.”

Jones faces Moore in a special election on December 12 to fill the Senate seat previously held by now-Attorney General Jeff Sessions.

http://www.breitbart.com/big-government/2017/10/19/abortion-extremist-doug-jones-highlighted-in-ad/

Story 4: Remembering The Veterans in Music — Lili Marleen — We’ll Meet Again — Sky Pilot — We Gotta Get Out Of This Place — Paint it Black  – – War — Where Have All the Flowers Gone? — Blowing In The Wind — Videos

Marlene Dietrich Lili Marleen (ENGLISH)

Lili Marleen.

Outside the barracks, by the corner light
I’ll always stand and wait for you at night
We will create a world for two
I’ll wait for you the whole night through
For you, Lili Marlene
For you, Lili Marlene

Bugler tonight don’t play the call to arms
I want another evening with her charms
Then we will say goodbye and part
I’ll always keep you in my heart
With me, Lili Marlene
With me, Lili Marlene

Give me a rose to show how much you care
Tie to the stem a lock of golden hair
Surely tomorrow, you’ll feel blue
But then will come a love that’s new
For you, Lili Marlene
For you, Lili Marlene

When we are marching in the mud and cold
And when my pack seems more than I can hold
My love for you renews my might
I’m warm again, my pack is light
It’s you, Lili Marlene
It’s you, Lili Marlene

My love for you renews my might
I’m warm again, my pack is light
It’s you, Lili Marlene
It’s you, Lili Marlene

Written by Hans Leip, Norbert Schultze • Copyright © EMI Music Publishing, Universal Music Publishing Group

Vera Lynn – Lili Marlene

Dame Vera Lynn, DBE (born Vera Margaret Welch on 20 March 1917) is an English singer and actress whose musical recordings and performances were enormously popular during World War II. During the war she toured Egypt, India and Burma, giving outdoor concerts for the troops. She was called “The Forces’ Sweetheart”; the songs most associated with her are “We’ll Meet Again” and “The White Cliffs of Dover”. She remained popular after the war, appearing on radio and television in the UK and the United States and recording such hits as “Auf Wiederseh’n Sweetheart” and “My Son, My Son”. In 2009 she became the oldest living artist to make it to No. 1 on the British album chart, at the age of 92. She has devoted much time and energy to charity work connected with ex-servicemen, disabled children and breast cancer. She is still held in great affection by veterans of the Second World War and in 2000 was named the Briton who best exemplified the spirit of the twentieth century.

We’ll Meet Again – Vera Lynn

We’ll Meet Again
We’ll meet again
Don’t know where
Don’t know when
But I know we’ll meet again some sunny day
Keep smiling through
Just like you always do
‘Till the blue skies drive the dark clouds far away
So will you please say hello
To the folks that I know
Tell them I won’t be long
They’ll be happy to know
That as you saw me go
I was singing this song
We’ll meet again
Don’t know where
Don’t know when
But I know we’ll meet again some sunny day
We’ll meet again
Don’t know where
Don’t know when
But I know we’ll meet again some sunny day
Keep smiling through
Just like you always do
‘Til the blue skies
Drive the dark clouds far away
So will you please say hello
To the folks that I know
Tell them it won’t be long
They’ll be happy to know
That as you saw me go
I was singin’ this song
We’ll meet again
Don’t know where
Don’t know when
But I know we’ll meet again some sunny day
Songwriters: Hughie Charles / Ross Parker
We’ll Meet Again lyrics © Music Sales Corporation

Vera Lynn The White cliffs of Dover

The White Cliffs of Dover
there’ll be bluebirds over
The white cliffs of Dover
Tomorrow
Just you wait and see
I’ll never forget the people I met
Braving those angry skies
I remember well as the shadows fell
The light of hope in their eyes
And though I’m far away
I still can hear them say
Bombs up…
But when the dawn comes up
there’ll be bluebirds over
The white cliffs of Dover
Tomorrow
Just you wait and see
there’ll be love and laughter
And peace ever after
Tomorrow
When the world is free
The shepherd will tend his sheep
The valley will bloom again
And Jimmy will go to sleep
In his own little room again
there’ll be bluebirds over
The white cliffs of Dover
Tomorrow
Just you wait and see
there’ll be bluebirds over
The white cliffs of Dover
Tomorrow
Just you wait and see…
Songwriters: Johnny Mercer
The White Cliffs of Dover lyrics © Shapiro Bernstein & Co. Inc.

Vera Lynn relases new album aged 97

Eric Burdon & The Animals Sky Pilot

Sky Pilot
He blesses the boys as they stand in line
The smell of gun grease
And the bayonets they shine
He’s there to help them all that he can
To make them feel wanted he’s a good holy man
Sky pilot [x2]
How high can you fly?
You’ll never, never, never reach the sky
He smiles at the young soldiers
Tells them it’s all right
He knows of their fear in the forthcoming fight
Soon there’ll be blood and many will die
Mothers and fathers back home they will cry
Sky pilot [x2]
How high can you fly?
You’ll never, never, never reach the sky
He mumbles a prayer and it ends with a smile
The order is given
They move down the line
But he’ll stay behind and he’ll meditate
But it won’t stop the bleeding or ease the hate
As the young men move out into the battle zone
He feels good, with God you’re never alone
He feels tired and he lays on his bed
Hopes the men will find courage
In the words that he said
Sky pilot [x2]
How high can you fly?
You’ll never, never, never reach the sky
You’re soldiers of God, you must understand
The fate of your country is in your young hands
May God give you strength
Do your job real well
If it all was worth it
Only time it will tell
In the morning they return
With tears in their eyes
The stench of death drifts up to the skies
A soldier so ill looks at the sky pilot
Remembers the words
Thou shalt not kill.
Sky pilot [x2]
How high can you fly?
You’ll never, never, never reach the sky
Songwriters: Barrie Ernest Jenkins / Barry Jenkins / Danny Mcculloch / Eric Victor Burdon / Johnny Weider / Vic Briggs
Sky Pilot lyrics © Warner/Chappell Music, Inc, Carlin America Inc

The Animals – We Gotta Get Out Of This Place

The Animals Lyrics

“We Gotta Get Out Of This Place”

In this dirty old part of the city
Where the sun refuse to shine
People tell me there ain’t no use in trying
Now my girl you’re so young and pretty
And one thing I know is true
You’ll be dead before your time is due
I know
Watch my daddy in bed and tired
Watch his hair been turning gray
He’s been working and slaving his life away
Oh yes, I know it
He’s been working so hard
I’ve been working too babe
Every night and day
Yeah yeah yeah yeah
We gotta get out of this place
If its the last thing we ever do
We gotta get out of this place
‘Cause girl, there’s a better life
For me and you
Now my girl you’re so young and pretty
And one thing I know is true, yeah
You’ll be dead before your time is due
I know it
Watch my daddy in bed and tired
Watch his hair been turning gray
He’s been working and slaving his life away
I know
He’s been working so hard
I’ve been working too babe
Every day baby
Yeah yeah yeah yeah
We gotta get out of this place
If its the last thing we ever do
We gotta get out of this place
Girl, there’s a better life
For me and you
Somewhere baby
Somehow I know it baby
We gotta get out of this place
If its the last thing we ever do
We gotta get out of this place
Girl, there’s a better life for me and you
Believe me baby
I know it baby
You know it too
Writer(s): Cynthia Weil, Barry Mann

Paint it Black – Vietnam War

The Rolling Stones Lyrics

“Paint It Black”

I see a red door and I want it painted black
No colors any more, I want them to turn black
I see the girls walk by, dressed in their summer clothes
I have to turn my head until my darkness goesI see a line of cars and they’re all painted black
With flowers and my love both never to come back
I see people turn their heads and quickly look away
Like a newborn baby, it just happens every dayI look inside myself and see my heart is black
I see my red door I must have it painted black
Maybe then I’ll fade away and not have to face the facts
It’s not easy facing up when your whole world is black

No more will my green sea go turn a deeper blue
I could not foresee this thing happening to you
If I look hard enough into the setting sun
My love will laugh with me before the morning comes

I see a red door and I want it painted black
No colors any more, I want them to turn black
I see the girls walk by, dressed in their summer clothes
I have to turn my head until my darkness goes

Hmm, hmm, hmm,..

I wanna see it painted, painted black
Black as night, black as coal
I wanna see the sun blotted out from the sky
I wanna see it painted, painted, painted, painted black

Yeah!

Hmm, hmm, hmm…

Writer/s: Keith Richards, Mick Jaggers
Publisher: Abkco Music, Inc.
Lyrics licensed and provided by LyricFind

War – Edwin Starr

War, huh, yeah
What is it good for
Absolutely nothing
War, huh, yeah
What is it good for
Absolutely nothing
Say it again, why’all
War, huh, good god
What is it good for
Absolutely nothing, listen to me
Oh, war, I despise
‘Cause it means destruction of innocent lives
War means tears to thousands of mothers eyes
When their sons go to fight
And lose their lives
I said, war, huh good god, why’all
What is it good for
Absolutely nothing say it again
War, whoa, lord
What is it good for
Absolutely nothing, listen to me
it ain’t nothing but a heart-breaker
(War) friend only to the undertaker
Oh, war it’s an enemy to all mankind
The point of war blows my mind
War has caused unrest
Within the younger generation
Induction then destruction
Who wants to die, ah, war-huh, good god why’all
What is it good for
Absolutely nothing
Say it, say it, say it
War, huh
What is it good for
Absolutely nothing listen to me
it ain’t nothing but a heart breaker
(War) it’s got one friend that’s the undertaker
Oh, war, has shattered many a young mans dreams
Made him disabled, bitter and mean
Life is much to short and precious
To spend fighting wars these days
War can’t give life
It can only take it away
Oh, war, huh good god why’all
What is it good for
Absolutely nothing say it again
whoa, lord
What is it good for
Absolutely nothing listen to me
it ain’t nothing but a heart breaker
(War) friend only to the undertaker
Peace, love and understanding
Tell me, is there no place for them today
They say we must fight to keep our freedom
But lord knows there’s got to be a better way
Oh, war, huh good god why’all
What is it good for you tell me
Say it, say it, say it, say it
huh good god why’all
What is it good for
Stand up and shout it nothing
Songwriters: Barret Strong / Norman Whitfield
War lyrics © Sony/ATV Music Publishing LLC

Pete Seeger: Where Have All the Flowers Gone?

Spadecaller

Published on Feb 18, 2008

On July 26, 1956, the House of Representatives voted 373 to 9 to cite Pete Seeger and seven others (including playwright Arthur Miller) for contempt, as they failed to cooperate with House Un-American Activities Committee (HUAC) in their attempts to investigate alleged subversives and communists. Pete Seeger testified before the HUAC in 1955. In one of Pete’s darkest moments, when his personal freedom, his career, and his safety were in jeopardy, a flash of inspiration ignited this song. The song was stirred by a passage from Mikhail Sholokhov’s novel “And Quie Flows the Don”. Around the world the song traveled and in 1962 at a UNICEF concert in Germany, Marlene Dietrich, Academy Award-nominated German-born American actress, first performed the song in French, as “Qui peut dire ou vont les fleurs?” Shortly after she sang it in German. The song’s impact in Germany just after WWII was shattering. It’s universal message, “let there be peace in the world” did not get lost in its translation. To the contrary, the combination of the language, the setting, and the great lyrics has had a profound effect on people all around the world. May it have the same effect today and bring renewed awareness to all that hear it.

Where Have All the Flowers Gone
Where have all the flowers gone?
Long time passing
Where have all the flowers gone?
Long time ago
Where have all the flowers gone?
Girls have picked them every one
When will they ever learn?
When will they ever learn?
Where have all the young girls gone?
Long time passing
Where have all the young girls gone?
Long time ago
Where have all the young girls gone?
Taken husbands every one
When will they ever learn?
When will they ever learn?
Where have all the young men gone?
Long time passing
Where have all the young men gone?
Long time ago
Where have all the young men gone?
Gone for soldiers every one
When will they ever learn?
When will they ever learn?
Where have all the soldiers gone?
Long time passing
Where have all the soldiers gone?
Long time ago
Where have all the soldiers gone?
Gone to graveyards every one
When will they ever learn?
When will they ever learn?
Where have all the graveyards gone?
Long time passing
Where have all the graveyards gone?
Long time ago
Where have all the graveyards gone?
Covered with flowers every one
When will we ever learn?
When will we ever learn?
Songwriters: Peter Seeger
Where Have All the Flowers Gone lyrics © The Bicycle Music Company

Blowing In The Wind (Live On TV, March 1963)

Blowin’ In The Wind

WRITTEN BY: BOB DYLAN
How many roads must a man walk down
Before you call him a man?
Yes, ’n’ how many seas must a white dove sail
Before she sleeps in the sand?
Yes, ’n’ how many times must the cannonballs fly
Before they’re forever banned?
The answer, my friend, is blowin’ in the wind
The answer is blowin’ in the wind

How many years can a mountain exist
Before it’s washed to the sea?
Yes, ’n’ how many years can some people exist
Before they’re allowed to be free?
Yes, ’n’ how many times can a man turn his head
Pretending he just doesn’t see?
The answer, my friend, is blowin’ in the wind
The answer is blowin’ in the wind

How many times must a man look up
Before he can see the sky?
Yes, ’n’ how many ears must one man have
Before he can hear people cry?
Yes, ’n’ how many deaths will it take till he knows
That too many people have died?
The answer, my friend, is blowin’ in the wind
The answer is blowin’ in the wind

Copyright

© 1962 by Warner Bros. Inc.; renewed 1990 by Special Rider Music

President Trump Visits the USS Arizona Memorial, Pearl Harbor, Aiea, Hawaii

President Trump and First Lady Melania Trump visit the USS Arizona Memorial Pearl Harbor

Veterans Day

From Wikipedia, the free encyclopedia
Veterans Day
World War I veteran Joseph Ambrose, 86, at the dedication day parade for the Vietnam Veterans Memorial in 1982.jpg

World War I veteran Joseph Ambrose attends the dedication parade for the Vietnam Veterans Memorial, holding the flag that covered the casket of his son, killed in the Korean War.
Observed by United States
Type National
Date November 11
(fourth Monday in October, 1971–1977)
Frequency Annual
Related to Armistice DayMemorial DayRemembrance Day

Veterans Day is an official United States public holiday, observed annually on November 11, that honors military veterans; that is, persons who served in the United States Armed Forces. It coincides with other holidays, including Armistice Day and Remembrance Day, celebrated in other countries that mark the anniversary of the end of World War I; major hostilities of World War I were formally ended at the 11th hour of the 11th day of the 11th month of 1918, when the Armistice with Germany went into effect. The United States previously observed Armistice Day. The U.S. holiday was renamed Veterans Day in 1954.

Veterans Day is not to be confused with Memorial Day, a U.S. public holiday in May; Veterans Day celebrates the service of all U.S. military veterans, while Memorial Day honors those who died while in military service.[1] It is also not to be confused with Armed Forces Day, a minor U.S. remembrance that also occurs in May, which specifically honors those currently serving in the U.S. military.

History

On November 11, 1919, U.S. President Woodrow Wilson issued a message to his countrymen on the first Armistice Day in which he expressed what he felt the day meant to Americans:

ADDRESS TO FELLOW-COUNTRYMEN
The White House, November 11, 1919.

A year ago today our enemies laid down their arms in accordance with an armistice which rendered them impotent to renew hostilities, and gave to the world an assured opportunity to reconstruct its shattered order and to work out in peace a new and juster set of inter national relations. The soldiers and people of the European Allies had fought and endured for more than four years to uphold the barrier of civilization against the aggressions of armed force. We ourselves had been in the conflict something more than a year and a half. – With splendid forgetfulness of mere personal concerns, we re modeled our industries, concentrated our financial resources, increased our agricultural output, and assembled a great army, so that at the last our power was a decisive factor in the victory. We were able to bring the vast resources, material and moral, of a great and free people to the assistance of our associates in Europe who had suffered and sacrificed without limit in the cause for which we fought. Out of this victory there arose new possibilities of political freedom and economic concert. The war showed us the strength of great nations acting together for high purposes, and the victory of arms foretells the enduring conquests which can be made in peace when nations act justly and in furtherance of the common interests of men. To us in America the reflections of Armistice Day will be filled with – solemn pride in the heroism of those who died in the country’s service, and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of nations.

WOODROW WILSON[2]

The United States Congress adopted a resolution on June 4, 1926, requesting that President Calvin Coolidge issue annual proclamations calling for the observance of November 11 with appropriate ceremonies.[2] A Congressional Act (52 Stat. 351; 5 U.S. Code, Sec. 87a) approved May 13, 1938, made the 11th of November in each year a legal holiday: “a day to be dedicated to the cause of world peace and to be thereafter celebrated and known as ‘Armistice Day’.”[3]

Veterans Day parade in Baltimore, Maryland, 2016

In 1945, World War II veteran Raymond Weeks from Birmingham, Alabama, had the idea to expand Armistice Day to celebrate all veterans, not just those who died in World War I. Weeks led a delegation to Gen. Dwight Eisenhower, who supported the idea of National Veterans Day. Weeks led the first national celebration in 1947 in Alabama and annually until his death in 1985. President Reagan honored Weeks at the White House with the Presidential Citizenship Medal in 1982 as the driving force for the national holiday. Elizabeth Dole, who prepared the briefing for President Reagan, determined Weeks as the “Father of Veterans Day.”[4]

U.S. Representative Ed Rees from Emporia, Kansas, presented a bill establishing the holiday through Congress. President Dwight D. Eisenhower, also from Kansas, signed the bill into law on May 26, 1954. It had been eight and a half years since Weeks held his first Armistice Day celebration for all veterans.[5]

Congress amended the bill on June 1, 1954, replacing “Armistice” with “Veterans,” and it has been known as Veterans Day since.[6][7]

The National Veterans Award was also created in 1954. Congressman Rees of Kansas received the first National Veterans Award in Birmingham, Alabama, for his support offering legislation to make Veterans Day a federal holiday.

Although originally scheduled for celebration on November 11 of every year, starting in 1971 in accordance with the Uniform Monday Holiday Act, Veterans Day was moved to the fourth Monday of October (Oct 25, 1971; Oct 23, 1972; Oct 22, 1973; Oct 28, 1974; Oct 27, 1975; Oct 25, 1976 and Oct 24, 1977). In 1978, it was moved back to its original celebration on November 11. While the legal holiday remains on November 11, if that date happens to be on a Saturday or Sunday, then organizations that formally observe the holiday will normally be closed on the adjacent Friday or Monday, respectively.

Observance

Veterans Day 2007 Poster

Because it is a federal holiday, some American workers and many students have Veterans Day off from work or school. When Veterans Day falls on a Saturday then either Saturday or the preceding Friday may be designated as the holiday, whereas if it falls on a Sunday it is typically observed on the following Monday. A Society for Human Resource Management poll in 2010 found that 21 percent of employers planned to observe the holiday in 2011.[8]

Non-essential federal government offices are closed. No mail is delivered. All federal workers are paid for the holiday; those who are required to work on the holiday sometimes receive holiday pay for that day in addition to their wages.

In his Armistice Day address to Congress, Wilson was sensitive to the psychological toll of the lean War years: “Hunger does not breed reform; it breeds madness,” he remarked.[9] As Veterans Day and the birthday of the United States Marine Corps (November 10, 1775) are only one day apart, that branch of the Armed Forces customarily observes both occasions as a 96-hour liberty period.

Election Day is a regular working day, while Veterans Day, which typically falls the following week, is a federal holiday. Some people[who?] have called for the holidays to be merged, so citizens can have a day off to vote. They state this as a way to honor voting by exercising democratic rights.[10]

Spelling of Veterans Day

While the holiday is commonly printed as Veteran’s Day or Veterans’ Day in calendars and advertisements (spellings that are grammatically acceptable), the United States Department of Veterans Affairs website states that the attributive(no apostrophe) rather than the possessive case is the official spelling “because it is not a day that ‘belongs’ to veterans, it is a day for honoring all veterans.”[11]

See also

References

  1. Jump up^ Kelber, Sarah Kickler (28 May 2012). “Today is not Veterans Day”Baltimore Sun. Retrieved 2013-10-21.
  2. Jump up to:a b “Supplement to the Messages and Papers of the Presidents: Covering the Second Term of Woodrow Wilson, March 4, 1917, to March 4, 1921”Bureau of National Literature. 11 November 2015.
  3. Jump up^ “Veterans Day History”. Veteran’s Affairs. Retrieved November 12, 2013.
  4. Jump up^ Zurski, Ken (November 11, 2016). “Raymond Weeks: The Father of Veterans Day”. Unremembered History. Retrieved November 9, 2017.
  5. Jump up^ Carter, Julie (November 2003). “Where Veterans Day began”VFW Magazine. Veterans of Foreign Wars of the United States. Archived from the original on 2012-07-14.
  6. Jump up^ “History of Veterans Day”. United States Department of Veterans Affairs. 2007-11-26. Retrieved 2008-11-06.
  7. Jump up^ “The History of Veterans Day”. United States Army Center of Military History (CMH). 2003-10-03. Retrieved 2007-11-01.
  8. Jump up^ Society for Human Resource Management (November 4, 2010). “2011 Holiday Schedules SHRM Poll”. Archived from the original on December 4, 2010.
  9. Jump up^ Smith, Andrew F. (2007). The Oxford companion to American food and drink. New York: Oxford University Press, Inc. p. 290. ISBN 0-19-530796-8. Retrieved November 12, 2010.
  10. Jump up^ Sutter, John D. (12 November 2012). “Election Day should be a federal holiday”CNN. Retrieved 20 October 2016.
  11. Jump up^ Veterans Day Frequently Asked Questions, Office of Public Affairs, U.S. Department of Veterans Affairs. Updated 2015-07-20. Retrieved 2015-11-08.

External links

https://en.wikipedia.org/wiki/Veterans_Day

 

 

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The Pronk Pops Show 995, November 3, 2017, Story 1: Democrats (Liberal, Progressive & Socialist Wing) and Republicans (Liberal & Progressive Wing) of The Two Party Tyranny Are All Marxist Now — Big Government Bubble Tax Surcharge of 6% Increases Rate From 39.6% to 45.6% — Class Warfare — Eat The Rich — Videos — Part 2 of 2 — Story 2: Republican Tax Cut Will Not Make America Great Again — Missing Is Real Government Spending Cuts That Results in A Balanced Budget By 2020 or 2024 — Spending Addiction Disorder (SAD) or Government Spending Obesity — Alive and Well — Videos — Story 3: A Broad Based Consumption Tax Replacing The Current U.S. Income Tax System Along The Lines of The FairTax or Fair Tax Less With Generous Monthly Tax Prebates and Limiting Federal Government Expenditures to 90% of Taxes Collected Will Make America Great Again — Videos

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GOP unity (for now) on House tax plan

The tax overhaul is Republicans’ top priority ahead of next year’s elections, and lawmakers are desperate for a victory after the Obamacare repeal failed.

Updated 

House Republicans largely put aside their often sharp policy and ideological differences Thursday to warmly greet the tax overhaul legislation introduced by GOP leaders.

But, as expected, it didn’t take long for various interest groups that feel stung by the measure to make their views known, and that will likely make the lawmakers’ unity fleeting.

Even before the legislation was formally unveiled, one of the most powerful groups in conservative circles, Americans for Prosperity, warned that plans to slap a tax on imports from U.S. companies that move jobs abroad “has the potential to derail much-needed reform.”

That was followed by denunciations from the influential National Federation of Independent Business, a small business lobby; the National Association of Home Builders; Independent Sector, which represents charities; the National Farmers Union; and even the American Institute of Architects.

That will give lawmakers plenty to think about as they brace for lobbyists to descend on their offices to fight for and against parts of the bill that will affect their profits, charitable donations and public services.

But Thursday appeared to be all about rallying around what could be the only major legislative accomplishment Republicans have to take into the 2018 midterm elections.

Rep. Mark Walker (R-N.C.), chairman of the Republican Study Committee, said he didn’t hear enough concerns among members of his party when they were briefed on the plan to slow its momentum.

“I don’t think anyone voiced anything that was just overwhelmingly a shutdown concern, to my surprise,” Walker said. “Guys from different caucuses, from different groups, were all speaking in favor of it. Not everybody’s happy about everything but … I was actually a little taken aback at how much unity there was in the room at the overall package.”

Rep. Mark Meadows (R-N.C.), head of the often balky Freedom Caucus, said he had some concerns about proposed changes to housing tax breaks and also with how the bill treats small businesses, but said he’s nevertheless “leaning yes” on the plan.

“I believe we’ll get there, and I’ll be optimistic that the few remaining issues will get addressed,” he said.

Lawmakers from high-tax states continued to grumble that the proposal would eliminate a deduction for state and local income and sales taxes, while keeping a property tax write-off that would be capped at $10,000.

“The property tax is still too low,” Rep. Tom MacArthur (R-N.J.) told reporters, adding that he’s already made a personal plea to House Ways and Means Chairman Kevin Brady (R-Texas). “I’ve done the math for my own state, my own district, and I’ve given the chairman of Ways and Means what I think the number needs to be.”

The unveiling of the 429-page bill — and a summary that runs 82 pages — kicks off what is sure to be a grueling slog to get legislation to President Donald Trump by the end of the year. The Senate is expected to follow up with its own plan as early as next week.

The bill would benefit a big slice of the American economy, with deep cuts in corporate tax rates, changes designed to make taxes on U.S. multinationals more competitive and tax cuts for individuals that Republicans say will significantly lighten their tax burden.

But it also includes provisions sure to stoke controversy and fierce lobbying, including new limits on the popular mortgage interest deduction. People could only deduct interest on the first $500,000 of loans for newly purchased homes, down from the current $1 million, and lawmakers would eliminate the break for second homes. The bill would also make it harder for people to sell their homes without paying taxes on any capital gains.

Experts warned that some middle-income people could see tax increases under the plan.

While big companies would get a significantly lower 20 percent corporate rate, down from 35 percent, they would face new limits on their ability to deduct interest on their loans, a new global minimum tax on their overseas earnings, and new taxes on U.S. companies heading abroad.

Republicans dropped a contentious plan to curb tax benefits for 401(k) retirement plans, which had GOP lawmakers cheering Brady at a closed door briefing on the plan.

Exactly who would win and lose in the proposal — dubbed the “Tax Cuts and Jobs Act” — has been a closely guarded secret, and many lawmakers will surely be surprised at the scope of changes needed to make the numbers behind the plan work.

The NFIB announced its opposition, citing restrictions lawmakers included on which small businesses can claim their lower tax rate on unincorporated “pass-through” firms. The issue has been one of the most difficult for lawmakers to work out, and could prove to be one of the most contentious going forward.

Though lawmakers would reduce the rate on those businesses to 25 percent, there would be limits on which firms could take advantage, provisions designed to avoid gaming by wealthy individuals.

Under the proposal, pass-throughs would get the lower rate on 30 percent of their profits, with the remainder taxed at ordinary income tax rates, though there would be circumstances in which businesses could qualify for a bigger share being subject to the special rate. That means, though, that some pass-throughs would actually pay more than 25 percent under the plan.

“This bill leaves too many small businesses behind,” said Juanita Duggan, the group’s president. “We believe that tax reform should provide substantial relief to all small businesses.”

The National Association of Home Builders said the legislation “eviscerates” housing tax benefits, and “abandons middle class taxpayers.”

The National Association of Realtors meanwhile has already begun lobbying against the proposal, running online ads in tax writers’ districts. “Don’t let tax reform become a tax increase for middle-class homeowners,” the ad says.

Independent Sector worries charities would suffer because the bill’s expansion of the standard deduction means far fewer people would take an itemized deduction for charitable giving. “The bill moves in the wrong direction,” said Daniel Cardinali, the group’s president.

Other business groups embraced the plan, including the U.S. Chamber of Commerce and the Business Roundtable.

“This bold tax reform bill is exactly what our nation needs to get our economy growing faster,” said Neil Bradley, a senior vice president at the Chamber of Commerce. Said Jamie Dimon, head of JP Morgan Chase & Co. and the Business Roundtable: “We support this tax reform effort because it is good for all Americans.”

House Speaker Paul Ryan and his leadership team want to stay ahead of lobbyists and constituencies that they know will be at their door. They plan to create an interactive presentation for each member to show the bill’s economic impact on their district, and what different adjustments would do.

“The substantive issue is how all these changes add up for families in my district or other members’ districts,” said Rep. Patrick McHenry (R-N.C.), the Republican chief deputy whip. “And once people can see that then that will determine their level of support.”

The plan is Republicans’ top priority ahead of next year’s elections, and lawmakers are desperate for a victory to take to voters after the failed campaign to repeal the Affordable Care Act.

Republicans are hoping to move it quickly through the House, with committee action penciled in for next week. Lawmakers aim to forward it on to the Senate later this month. Senate Republicans are working on their own competing plan they aim to unveil next week. Lawmakers hope to land a compromise on Trump’s desk by the end of the year.

House leaders, who have written the plan in secret, had avoided identifying most of the breaks that would be quashed under the proposal in order to keep lobbyists at bay. But many Republicans had little inkling of what’s in the bill, and the strategy means leaders have not had much opportunity to build support among rank-and-file members for controversial proposals that will surely get more attention in the coming days.

The bill is loaded with sure-to-be contentious ideas affecting broad swathes of the economy. It would delete a long-standing deduction for people with high medical bills — including those with chronic conditions. People would have to live longer in their homes, under the bill, to qualify for tax-free treatment of capital gains when they sell their houses.

It would also kill long-standing breaks for adoptions, and for student loan interest costs. Private universities would face a new 1.4 percent tax on their investment earnings from their endowments. The Work Opportunity Credit, which encourages businesses to hire veterans, would be eliminated. So too would the New Markets Tax credit, which encourages investment in poor areas.

Tax benefits related to fringe benefits would be curtailed. It would also dump a long-standing break for casualty losses that allow people to deduct things lost in fires and storms, although it would continue to allow the provision for people hit by hurricanes — no doubt reflecting the influence of Brady, whose Houston-area district was hit by Hurricane Harvey.

Foreign companies operating in the United States would face higher taxes under the proposal, as would companies such as pharmaceutical firms that move overseas and want to sell goods back to the United States.

The bill would cut taxes over the next decade by $1.487 trillion, according to the official Joint Committee on Taxation. The estimate also shows the bill would likely run afoul of the Senate’s “Byrd rule,” named after the late Sen. Robert Byrd (D-W.Va.), which bars provisions adding to the government’s long-term debt.

For individuals, the plan would reduce the number of tax brackets to four from the current seven, with the top rate remaining at 39.6 percent. Republicans would more than double the income threshold at which the top rate would kick in to $1 million for married couples. They would simultaneously raise taxes on the rich, though, by limiting their ability to take advantage of their lowest income tax bracket. The 35 percent bracket would begin at $260,000 for married couples, and the threshold for a 25 percent bracket would be $90,000 under the plan.

Republicans would also get rid of personal exemptions, which are designed to adjust tax burdens for family size. The plan would instead double the standard deduction while increasing both the size of the child tax credit to $1,600, from the current $1000, while increasing the income threshold at which it could be claimed. They would also create a new $300 credit for adult dependents as well as another $300 “family flexibility” credit.

The bill would ease the estate tax by doubling the threshold at which it would kick in before eventually repealing it.

Aside from the lower corporate tax rate, businesses would also get the ability to immediately write off their investment expenses for the next five years. They would get a one-time reduced rate of 12 percent on their overseas earnings on liquid assets and a 5 percent rate on illiquid assets like overseas factories.

But they would face new limits on their ability to deduct interest payments on the money they borrow. They would also face a new 10 percent foreign minimum tax targeting companies that squirrel away money in offshore tax havens. Life insurance companies would lose a number of tax benefits, private activity bonds would be eliminated and tax-exempt bonds could no longer be used to help build professional sports stadiums.

Colin Wilhelm, Rachael Bade and Sarah Ferris contributed to this report.

https://www.politico.com/story/2017/11/02/tax-reform-house-gop-plan-244453

Leadership

The majority party members and the minority party members meet separately to select their leaders. Third parties rarely have had enough members to elect their own leadership, and independents will generally join one of the larger party organizations to receive committee assignments. A party caucus or conference is the name given to a meeting of or organization of all party members in the House. During these meetings, party members discuss matters of concern.

Learn more about the history of House leadership.

Speaker of the House

Speaker Paul D. Ryan

Rep. Paul D. Ryan

Elected by the whole of the House of Representatives, the Speaker acts as leader of the House and combines several roles: the institutional role of presiding officer and administrative head of the House, the role of leader of the majority party in the House, and the representative role of an elected member of the House. The Speaker of the House is second in line to succeed the President, after the Vice President.

Republican Leadership

Rep. McCarthy

Majority Leader

Rep. Kevin McCarthy

Represents Republicans on the House floor.

Rep. Scalise

Majority Whip

Rep. Steve Scalise

Assists leadership in managing party’s legislative program.

Rep. McMorris Rodgers

Republican Conference Chairman

Rep. Cathy McMorris Rodgers

Heads organization of all Republican Party members in the House.

Rep. Messer

Republican Policy Committee Chairman

Rep. Luke Messer

Heads Conference forum for policy development.

Democratic Leadership

Democratic Leaders Pelosi

Democratic Leader

Rep. Nancy Pelosi

Represents Democrats on the House floor.

Rep. Hoyer

Democratic Whip

Rep. Steny Hoyer

Assists leadership in managing party’s legislative program.

Rep. Clyburn

Assistant Democratic Leader

Rep. James Clyburn

Works with caucuses and as liaison to Appropriations Committee.

Rep. Crowley

Democratic Caucus Chairman

Rep. Joseph Crowley

Heads organization of all Democratic Party members in the House.

Republican Party House Leadership

 

 Democratic Party House Leadership

 https://www.conservativereview.com/scorecard?chamber=house&state=&party=R

The GOP’s hidden 46% tax bracket

If you’re rich enough, some of your income is taxed at a rate unseen since the ‘80s.

House Republicans claim the tax plan they introduced Thursday keeps the top individual rate unchanged at 39.6 percent—the level at which it’s been capped for much of the past quarter-century. But a little-noticed provision effectively creates a new band in which income is taxed at over 45 percent.

Thanks to a quirky proposed surcharge, Americans who earn more than $1 million in taxable income would trigger an extra 6 percent tax on the next $200,000 they earn—a complicated change that effectively creates a new, unannounced tax bracket of 45.6 percent.

It hasn’t been advertised by Republicans, who have described their plan as maintaining the current top tax rate of 39.6 percent. And it goes against decades of GOP orthodoxy that raising taxes on the rich discourages work and reduces economic growth. Reached by phone, Steve Moore, a tax expert at The Heritage Foundation, said the surcharge was news to him. “I was just in a briefing with the White House on this,” he said. “They didn’t mention that. It seems kind of bizarre to me.”

The new rate stems from a provision in the bill intended to help the government recover, from the very wealthy, some of the benefits that lower-income taxpayers enjoy. Under the House GOP plan, all individuals—no matter whether they earn $35,000, $150,000 or $10 million—would pay the lowest rate, 12 percent, on their first $45,000 in taxable income. That’s a normal feature of current American tax law. But in the new plan, House Republicans want to claw back some of that benefit for individuals who earn more than $1 million, or couples earning more than $1.2 million.

Here’s how it would work: After the first $1 million in taxable income, the government would impose a 6 percent surcharge on every dollar earned, until it made up for the tax benefits that the rich receive from the low tax rate on that first $45,000. That surcharge remains until the government has clawed back the full $12,420, which would occur at about $1.2 million in taxable income. At that point, the surcharge disappears and the top tax rate drops back to 39.6 percent. This type of tax is sometimes called a “bubble tax,” because the marginal tax rate effectively bubbles up for a brief period before falling back to a lower level.

According to POLITICO’s calculation, the surcharge could raise more than $50 billion over a decade—money that will help the GOP meet the $1.5 trillion in increased deficits that their budget allows for and required to balance out tax cuts elsewhere. Balancing out those costs means that the bill can pass through budget reconciliation, and Senate Democrats can’t filibuster the bill.

Whom would it affect? According to the Internal Revenue Service, 438,000 tax filers had more than $1 million in taxable income in 2015, most of whom also make more than $1.2 million—meaning they’d pay the full additional $12,420 in bubble tax. Altogether, that surcharge could have raised roughly $5 billion in 2015, the latest year in which numbers are available, meaning it could potentially bring in around $50 billion over the next decade. That’s not huge money in a plan that cuts taxes $1.5 trillion—but every bit counts.

A spokesperson for the House Ways and Means Committee did not dispute the math but characterized the bubble as “the phase-out of a tax benefit” for high earners, rather than a surcharge. “The Tax Cuts and Jobs Act provides tax relief at every income level,” said the spokesperson.

The idea of a bubble tax is not exactly new. In fact, the corporate tax code currently contains a bubble tax, which the GOP plan would eliminate. But the hidden nature of bubble taxes concerns experts who believe that the tax code should be easy to understand. “It certainly doesn’t promote tax transparency in terms of letting people readily understand the true rate structure,” said Alan Viard, a tax expert at the American Enterprise Institute. “I don’t think many people in the tax policy community are enthused about this kind of provision.”

The bubble tax also represents something of a break from nearly all Republican tax plans for the past few decades. Supply-side conservatives have long complained that the current tax rates on top earners are too high, discouraging work and reducing economic growth. House Republicans proposed lowering the top rate to 33 percent in the tax blueprint that they released last year. Over the past few weeks, faced with pressure from President Donald Trump to counter critics who said the plan is a giveaway to the rich and needing additional revenue, GOP leaders acceded to leaving the top rate unchanged. For a party that has focused intently on lowering marginal tax rates, it was a big concession.

For Democrats, the extra $50 billion from the rich is almost certain not to change their criticisms that the plan contains huge giveaways to the rich in the form of corporate tax cuts and the new 25 percent rate for so-called “pass through” businesses, which include everything from small businesses to hedge funds.

The bubble tax, in other words, is a way for the GOP to quietly raise much-needed revenue without changing the broader features of the bill. But it does mean that the top marginal tax rate would rise above 40 percent for the first time since 1986—the last year that Congress overhauled the tax code.

https://www.politico.com/agenda/story/2017/11/02/the-gops-hidden-46-tax-bracket-000570

Rand Paul: Have to Cut Taxes on Top 1 Percent or It’s Not a ‘Significant Tax Cut’

The Kentucky senator says members of Congress have bought into the ‘class warfare’ of the Left

by Kathryn Blackhurst | Updated 02 Nov 2017 at 2:15 PM

Sen. Rand Paul (R-Ky.) said Thursday on “The Laura Ingraham Show” that the House’s tax plan will deliver economic growth, although it doesn’t really constitute “a significant tax cut” as President Donald Trump said it would.

The House’s watered-down Tax Cuts and Jobs Act, released Thursday, would reduce the number of income tax brackets to four, with rates of zero percent, 12 percent, 25 percent and 35 percent. In addition, the corporate tax rate drops from 35 percent to 20 percent — short of the 15 percent tax rate Trump championed on the campaign trail, but still a significant change.

Although Paul applauded some aspects of the bill’s content, he expressed disappointment, saying the proposed legislation as it now stands wouldn’t deliver the “significant tax cut” Trump and Republicans promised.

“If you don’t cut the top 1 percent, you don’t really have a significant tax cut,” Paul told LifeZette Editor-in-Chief Laura Ingraham. “What they’ve done is, they’ve bought into the class warfare on the individual side.”

“So at the top, there’s not going to be much of a tax cut. There will be some. And in the middle, there’s going to be a little bit — there’s mostly going to be eliminating deductions. And at the bottom, the bottom already don’t pay much income tax and will continue not to pay much income tax,” Paul added.

The senator from Kentucky said that if the U.S. wants to create jobs and keep them in the country, Congress must “lessen the punishment” it has doled out on corporations and the top 1 percent of income earners.

“We’re punishing corporations and the workers of those corporations so much that companies are fleeing and going abroad. So we have the highest corporate income tax in the world. It’s going down to 20 percent,” Paul said. “The president’s been a good leader on this. He has pushed up until the last minute of the last hour last night. House leadership is still trying to not give him the corporate tax cut he’s asked for.”

Even though the bill would only lower the corporate tax rate to 20 percent, Paul said this move still would “be huge” for the country.

“The best news out of this is, lowering the corporate rate will help the country. And I think we will see growth,” Paul said. “Already we’re seeing about 3 percent growth in the country because of the enthusiasm for President Trump and his policies. I think we’re going to get 4 or 5 percent growth if we get this thing through, within a year or two.”

“For the individuals, it’s not as good as I would like. I would like to see every individual up and down get a lower rate, and particularly on the top part of the spectrum because the top part of the spectrum pays most of the taxes,” Paul continued.

But the Democrats have been particularly effective in pushing the narrative that tax breaks for the wealthiest Americans disadvantage poorer Americans, and many Republicans have found themselves convinced by portions of these emotional arguments, Paul suggested.

“We have to understand that the owners of our businesses — the people we work for — are richer than us. They pay more taxes,” Paul said. “But if you lower their taxes, they will either buy stuff or hire more people. If you raise their taxes, it goes into the nonproductive economy, which is Washington, D.C., and it will be squandered.”

“So really, even if rich people get a tax cut, we should all stand up and cheer because it means more jobs for us because you’re leaving more money in the private sector,” Paul continued. “So I’m one of the few that will stand up on TV and say everybody’s taxes should go down, including the wealthy.”

(photo credit, homepage image: Rand PaulCC BY-SA 2.0, by Gage Skidmore; photo credit, article image: Rand PaulCC BY-SA 2.0, by Gage Skidmore)

http://www.lifezette.com/polizette/rand-paul-well-see-growth-but-this-isnt-asignificant-tax-cut/

The Communist Manifesto

From Wikipedia, the free encyclopedia
The Communist Manifesto
Communist-manifesto.png

First edition, in German
Author Karl Marx and Friedrich Engels
Translator Samuel Moore
Country United Kingdom
Language German
Publication date
late-February 1848

The Communist Manifesto (originally Manifesto of the Communist Party) is an 1848 political pamphlet by German philosophers Karl Marx and Friedrich Engels. Commissioned by the Communist League and originally published in London (in German as Manifest der Kommunistischen Partei) just as the revolutions of 1848 began to erupt, the Manifesto was later recognised as one of the world’s most influential political documents. It presents an analytical approach to the class struggle (historical and then-present) and the problems of capitalism and the capitalist mode of production, rather than a prediction of communism’s potential future forms.

The Communist Manifesto summarises Marx and Engels’ theories about the nature of society and politics, that in their own words, “The history of all hitherto existing society is the history of class struggles”. It also briefly features their ideas for how the capitalist society of the time would eventually be replaced by socialism.

Synopsis

The Communist Manifesto is divided into a preamble and four sections, the last of these a short conclusion. The introduction begins by proclaiming “A spectre is haunting Europe—the spectre of communism. All the powers of old Europe have entered into a holy alliance to exorcise this spectre”. Pointing out that parties everywhere—including those in government and those in the opposition—have flung the “branding reproach of communism” at each other, the authors infer from this that the powers-that-be acknowledge communism to be a power in itself. Subsequently, the introduction exhorts Communists to openly publish their views and aims, to “meet this nursery tale of the spectre of communism with a manifesto of the party itself”.

The first section of the Manifesto, “Bourgeois and Proletarians”, elucidates the materialist conception of history, that “the history of all hitherto existing society is the history of class struggles”. Societies have always taken the form of an oppressed majority living under the thumb of an oppressive minority. In capitalism, the industrial working class, or proletariat, engage in class struggle against the owners of the means of production, the bourgeoisie. As before, this struggle will end in a revolution that restructures society, or the “common ruin of the contending classes”. The bourgeoisie, through the “constant revolutionising of production [and] uninterrupted disturbance of all social conditions” have emerged as the supreme class in society, displacing all the old powers of feudalism. The bourgeoisie constantly exploits the proletariat for its labour power, creating profit for themselves and accumulating capital. However, in doing so, the bourgeoisie serves as “its own grave-diggers”; the proletariat inevitably will become conscious of their own potential and rise to power through revolution, overthrowing the bourgeoisie.

“Proletarians and Communists”, the second section, starts by stating the relationship of conscious communists to the rest of the working class. The communists’ party will not oppose other working-class parties, but unlike them, it will express the general will and defend the common interests of the world’s proletariat as a whole, independent of all nationalities. The section goes on to defend communism from various objections, including claims that it advocates “free love” or disincentivises people from working. The section ends by outlining a set of short-term demands—among them a progressive income tax; abolition of inheritances and private property; free public education; nationalisation of the means of transport and communication; centralisation of credit via a national bank; expansion of publicly owned etc.—the implementation of which would result in the precursor to a stateless and classless society.

The third section, “Socialist and Communist Literature”, distinguishes communism from other socialist doctrines prevalent at the time—these being broadly categorised as Reactionary Socialism; Conservative or Bourgeois Socialism; and Critical-Utopian Socialism and Communism. While the degree of reproach toward rival perspectives varies, all are dismissed for advocating reformism and failing to recognise the pre-eminent revolutionary role of the working class. “Position of the Communists in Relation to the Various Opposition Parties”, the concluding section of the Manifesto, briefly discusses the communist position on struggles in specific countries in the mid-nineteenth century such as France, Switzerland, Poland, and Germany, this last being “on the eve of a bourgeois revolution”, and predicts that a world revolution will soon follow. It ends by declaring an alliance with the social democrats, boldly supporting other communist revolutions, and calling for united international proletarian action—Working Men of All Countries, Unite!.

Writing

Only surviving page from the first draft of the Manifesto, handwritten by Marx

In spring 1847 Marx and Engels joined the League of the Just, who were quickly convinced by the duo’s ideas of “critical communism”. At its First Congress in 2–9 June, the League tasked Engels with drafting a “profession of faith”, but such a document was later deemed inappropriate for an open, non-confrontational organisation. Engels nevertheless wrote the “Draft of the Communist Confession of Faith“, detailing the League’s programme. A few months later, in October, Engels arrived at the League’s Paris branch to find that Moses Hess had written an inadequate manifesto for the group, now called the League of Communists. In Hess’s absence, Engels severely criticised this manifesto, and convinced the rest of the League to entrust him with drafting a new one. This became the draft Principles of Communism, described as “less of a credo and more of an exam paper.”

On 23 November, just before the Communist League’s Second Congress (29 November – 8 December 1847), Engels wrote to Marx, expressing his desire to eschew the catechism format in favour of the manifesto, because he felt it “must contain some history.” On the 28th, Marx and Engels met at Ostend in Belgium, and a few days later, gathered at the Soho, London headquarters of the German Workers’ Education Association to attend the Congress. Over the next ten days, intense debate raged between League functionaries; Marx eventually dominated the others and, overcoming “stiff and prolonged opposition”,[1] in Harold Laski‘s words, secured a majority for his programme. The League thus unanimously adopted a far more combative resolution than that at the First Congress in June. Marx (especially) and Engels were subsequently commissioned to draw up a manifesto for the League.

Upon returning to Brussels, Marx engaged in “ceaseless procrastination”, according to his biographer Francis Wheen. Working only intermittently on the manifesto, he spent much of his time delivering lectures on political economy at the German Workers’ Education Association, writing articles for the Deutsche-Brüsseler-Zeitung, and giving a long speech on free trade. Following this, he even spent a week (17–26 January 1848) in Ghent to establish a branch of the Democratic Association there. Subsequently, having not heard from Marx for nearly two months, the Central Committee of the Communist League sent him an ultimatum on 24 or 26 January, demanding he submit the completed manuscript by 1 February. This imposition spurred Marx on, who struggled to work without a deadline, and he seems to have rushed to finish the job in time. (For evidence of this, historian Eric Hobsbawm points to the absence of rough drafts, only one page of which survives.)

In all, the Manifesto was written over 6–7 weeks. Although Engels is credited as co-writer, the final draft was penned exclusively by Marx. From the 26 January letter, Laski infers that even the League considered Marx to be the sole draftsman (and that he was merely their agent, imminently replaceable). Further, Engels himself wrote in 1883 that “The basic thought running through the Manifesto … belongs solely and exclusively to Marx.” Although Laski doesn’t disagree, he suggests that Engels underplays his own contribution with characteristic modesty, and points out the “close resemblance between its substance and that of the [Principles of Communism]”. Laski argues that while writing the Manifesto, Marx drew from the “joint stock of ideas” he developed with Engels, “a kind of intellectual bank account upon which either could draw freely.”[2]

Publication

Initial publication and obscurity, 1848–72

A scene from the German March Revolution in Berlin, 1848

In late February 1848, the Manifesto was anonymously published by the Workers’ Educational Association (Communistischer Arbeiterbildungsverein) at Bishopsgate in the City of London. Written in German, the 23-page pamphlet was titled Manifest der kommunistischen Partei and had a dark-green cover. It was reprinted three times and serialised in the Deutsche Londoner Zeitung, a newspaper for German émigrés. On 4 March, one day after the serialisation in the Zeitung began, Marx was expelled by Belgian police. Two weeks later, around 20 March, a thousand copies of the Manifesto reached Paris, and from there to Germany in early April. In April–May the text was corrected for printing and punctuation mistakes; Marx and Engels would use this 30-page version as the basis for future editions of the Manifesto.

Although the Manifestos prelude announced that it was “to be published in the English, French, German, Italian, Flemish and Danish languages”, the initial printings were only in German. Polish and Danish translations soon followed the German original in London, and by the end of 1848, a Swedish translation was published with a new title—The Voice of Communism: Declaration of the Communist Party. In June–November 1850 the Manifesto of the Communist Party was published in English for the first time when George Julian Harney serialised Helen Macfarlane‘s translation in his Chartist magazine The Red Republican. (Her version begins, “A frightful hobgoblin stalks throughout Europe. We are haunted by a ghost, the ghost of Communism.”)[3] For her translation, the Lancashire-based Macfarlane probably consulted Engels, who had abandoned his own English translation half way. Harney’s introduction revealed the Manifestos hitherto-anonymous authors’ identities for the first time.

Immediately after the Cologne Communist Trial of late 1852, the Communist League disbanded itself.

Soon after the Manifesto was published, Paris erupted in revolution to overthrow King Louis Philippe. The Manifesto played no role in this; a French translation was not published in Paris until just before the working-class June Days Uprising was crushed. Its influence in the Europe-wide revolutions of 1848 was restricted to Germany, where the Cologne-based Communist League and its newspaper Neue Rheinische Zeitung, edited by Marx, played an important role. Within a year of its establishment, in May 1849, the Zeitung was suppressed; Marx was expelled from Germany and had to seek lifelong refuge in London. In 1851, members of the Communist League’s central board were arrested by the Prussian police. At their trial in Cologne 18 months later in late 1852 they were sentenced to 3–6 years’ imprisonment. For Engels, the revolution was “forced into the background by the reaction that began with the defeat of the Paris workers in June 1848, and was finally excommunicated ‘by law’ in the conviction of the Cologne Communists in November 1852”.

After the defeat of the 1848 revolutions the Manifesto fell into obscurity, where it remained throughout the 1850s and 1860s. Hobsbawm says that by November 1850 the Manifesto “had become sufficiently scarce for Marx to think it worth reprinting section III … in the last issue of his [short-lived] London magazine”. Over the next two decades only a few new editions were published; these include an (unauthorised and occasionally inaccurate) 1869 Russian translation by Mikhail Bakunin in Geneva and a 1866 edition in Berlin—the first time the Manifesto was published in Germany. According to Hobsbawm, “By the middle 1860s virtually nothing that Marx had written in the past was any longer in print.” However John Cowell-Stepney did publish an abridged version in the Social Economist in August/September 1869,[4] in time for the Basle Congress.

Rise, 1872–1917

In the early 1870s, the Manifesto and its authors experienced a revival in fortunes. Hobsbawm identifies three reasons for this. The first is the leadership role Marx played in the International Workingmen’s Association (aka the First International). Secondly, Marx also came into much prominence among socialists—and equal notoriety among the authorities—for his support of the Paris Commune of 1871, elucidated in The Civil War in France. Lastly, and perhaps most significantly in the popularisation of the Manifesto, was the treason trial of German Social Democratic Party (SPD) leaders. During the trial prosecutors read the Manifesto out loud as evidence; this meant that the pamphlet could legally be published in Germany. Thus in 1872 Marx and Engels rushed out a new German-language edition, writing a preface that identified that several portions that became outdated in the quarter century since its original publication. This edition was also the first time the title was shortened to The Communist Manifesto (Das Kommunistische Manifest), and it became the bedrock the authors based future editions upon. Between 1871 and 1873, the Manifesto was published in over nine editions in six languages; in 1872 it was published in the United States for the first time, serialised in Woodhull & Claflin’s Weekly of New York City. However, by the mid 1870s the Communist Manifesto remained Marx and Engels’ only work to be even moderately well-known.

Over the next forty years, as social-democratic parties rose across Europe and parts of the world, so did the publication of the Manifesto alongside them, in hundreds of editions in thirty languages. Marx and Engels wrote a new preface for the 1882 Russian edition, translated by Georgi Plekhanov in Geneva. In it they wondered if Russia could directly become a communist society, or if she would become capitalist first like other European countries. After Marx’s death in 1883, Engels alone provided the prefaces for five editions between 1888 and 1893. Among these is the 1888 English edition, translated by Samuel Moore and approved by Engels, who also provided notes throughout the text. It has been the standard English-language edition ever since.

The principal region of its influence, in terms of editions published, was in the “central belt of Europe”, from Russia in the east to France in the west. In comparison, the pamphlet had little impact on politics in southwest and southeast Europe, and moderate presence in the north. Outside Europe, Chinese and Japanese translations were published, as were Spanish editions in Latin America. This uneven geographical spread in the Manifestos popularity reflected the development of socialist movements in a particular region as well as the popularity of Marxist variety of socialism there. There was not always a strong correlation between a social-democratic party’s strength and the Manifestos popularity in that country. For instance, the German SPD printed only a few thousand copies of the Communist Manifesto every year, but a few hundred thousand copies of the Erfurt Programme. Further, the mass-based social-democratic parties of the Second International did not require their rank and file to be well-versed in theory; Marxist works such as the Manifesto or Das Kapital were read primarily by party theoreticians. On the other hand, small, dedicated militant parties and Marxist sects in the West took pride in knowing the theory; Hobsbawm says “This was the milieu in which ‘the clearness of a comrade could be gauged invariably from the number of earmarks on his Manifesto'”.

Ubiquity, 1917–present

The Bolshevik (1920) by Boris Kustodiev.Following the 1917 Bolshevik takeover of Russia Marx/Engels classics like the Communist Manifesto were distributed far and wide.

Following the October Revolution of 1917 that swept the Vladimir Lenin-led Bolsheviks to power in Russia, the world’s first socialist state was founded explicitly along Marxist lines. The Soviet Union, which Bolshevik Russia would become a part of, was a one-party state under the rule of the Communist Party of the Soviet Union (CPSU). Unlike their mass-based counterparts of the Second International, the CPSU and other Leninist parties like it in the Third International expected their members to know the classic works of Marx, Engels and Lenin. Further, party leaders were expected to base their policy decisions on Marxist-Leninist ideology. Therefore works such as the Manifestowere required reading for the party rank-and-file.

Therefore the widespread dissemination of Marx and Engels’ works became an important policy objective; backed by a sovereign state, the CPSU had relatively inexhaustible resources for this purpose. Works by Marx, Engels, and Lenin were published on a very large scale, and cheap editions of their works were available in several languages across the world. These publications were either shorter writings or they were compendia such as the various editions of Marx and Engels’ Selected Works, or their Collected Works. This affected the destiny of the Manifesto in several ways. Firstly, in terms of circulation; in 1932 the American and British Communist Parties printed several hundred thousand copies of a cheap edition for “probably the largest mass edition ever issued in English”. Secondly the work entered political-science syllabuses in universities, which would only expand after the Second World War. For its centenary in 1948, its publication was no longer the exclusive domain of Marxists and academicians; general publishers too printed the Manifesto in large numbers. “In short, it was no longer only a classic Marxist document,” Hobsbawm noted, “it had become a political classic tout court.”

Even after the collapse of the Soviet Bloc in the 1990s, the Communist Manifesto remains ubiquitous; Hobsbawm says that “In states without censorship, almost certainly anyone within reach of a good bookshop, and certainly anyone within reach of a good library, not to mention the internet, can have access to it.” The 150th anniversary once again brought a deluge of attention in the press and the academia, as well as new editions of the book fronted by introductions to the text by academics. One of these, The Communist Manifesto: A Modern Edition by Verso, was touted by a critic in the London Review of Books as being a “stylish red-ribboned edition of the work. It is designed as a sweet keepsake, an exquisite collector’s item. In Manhattan, a prominent Fifth Avenue store put copies of this choice new edition in the hands of shop-window mannequins, displayed in come-hither poses and fashionable décolletage.”

Legacy

“With the clarity and brilliance of genius, this work outlines a new world-conception, consistent materialism, which also embraces the realm of social life; dialectics, as the most comprehensive and profound doctrine of development; the theory of the class struggle and of the world-historic revolutionary role of the proletariat—the creator of a new, communist society.”

Vladimir Lenin on the Manifesto, 1914[5]

A number of late-20th- and 21st-century writers have commented on the Communist Manifestos continuing relevance. In a special issue of the Socialist Register commemorating the Manifestos 150th anniversary, Peter Osborne argued that it was ‘the single most influential text written in the nineteenth century.’[6] Academic John Raines in 2002 noted that “In our day this Capitalist Revolution has reached the farthest corners of the earth. The tool of money has produced the miracle of the new global market and the ubiquitous shopping mall. Read The Communist Manifesto, written more than one hundred and fifty years ago, and you will discover that Marx foresaw it all.”[7] In 2003, the English Marxist Chris Harman stated, “There is still a compulsive quality to its prose as it provides insight after insight into the society in which we live, where it comes from and where its going to. It is still able to explain, as mainstream economists and sociologists cannot, today’s world of recurrent wars and repeated economic crisis, of hunger for hundreds of millions on the one hand and ‘overproduction’ on the other. There are passages that could have come from the most recent writings on globalisation.”[8]Alex Callinicos, editor of International Socialism, stated in 2010 that “This is indeed a manifesto for the 21st century.”[9] Writing in The London Evening Standard in 2012, Andrew Neather cited Verso Books‘ 2012 re-edition of The Communist Manifesto, with an introduction by Eric Hobsbawm, as part of a resurgence of left-wing-themed ideas which includes the publication of Owen Jones‘ best-selling Chavs: The Demonization of the Working Class and Jason Barker‘s documentary Marx Reloaded.[10]

Soviet Union stamp commemorating the 100th anniversary of the Manifesto

In contrast, critics such as Revisionist Marxist and reformist socialist Eduard Bernstein distinguished between “immature” early Marxism—as exemplified by the Communist Manifestowritten by Marx and Engels in their youth—that he opposed for its violent Blanquist tendencies, and later “mature” Marxism that he supported.[11] This latter form refers to Marx in his later life acknowledging that socialism could be achieved through peaceful means through legislative reform in democratic societies.[12] Bernstein declared that the massive and homogeneous working-class claimed in the Communist Manifestodid not exist, and that contrary to claims of a proletarian majority emerging, the middle-class was growing under capitalism and not disappearing as Marx had claimed. Bernstein noted that the working-class was not homogeneous but heterogeneous, with divisions and factions within it, including socialist and non-socialist trade unions. Marx himself, later in his life, acknowledged that the middle-class was not disappearing in his work Theories of Surplus Value (1863). The obscurity of the later work means that Marx’s acknowledgement of this error is not well known.[13]George Boyer described the Manifesto as “very much a period piece, a document of what was called the ‘hungry’ 1840s.”[14]

Many have drawn attention to the passage in the Manifesto that seems to sneer at the stupidity of the rustic: “The bourgeoisie … draws all nations … into civilisation … It has created enormous cities … and thus rescued a considerable part of the population from the idiocy [sic!] of rural life”.[15] As Eric Hobsbawm noted, however:

[W]hile there is no doubt that Marx at this time shared the usual townsman’s contempt for, as well as ignorance of, the peasant milieu, the actual and analytically more interesting German phrase (“dem Idiotismus des Landlebens entrissen”) referred not to “stupidity” but to “the narrow horizons”, or “the isolation from the wider society” in which people in the countryside lived. It echoed the original meaning of the Greek term idiotes from which the current meaning of “idiot” or “idiocy” is derived, namely “a person concerned only with his own private affairs and not with those of the wider community”. In the course of the decades since the 1840s, and in movements whose members, unlike Marx, were not classically educated, the original sense was lost and was misread.[16]

Influences on The Communist Manifesto

Marx and Engel’s political influences were wide-ranging, reacting to and taking inspiration from German idealist philosophy, French socialism, and English and Scottish political economy. The Communist Manifesto also takes influence from literature. In Jacques Derrida’s work, Specters of Marx: The State of the Debt, the Work of Mourning and the New International, he uses Shakespeare’s Hamlet to frame a discussion of the history of the International, showing, in the process, the influence that Shakespeare’s work had on Marx and Engel’s writing.[17] In his essay, “Big Leagues: Specters of Milton and Republican International Justice between Shakespeare and Marx,” Christopher N. Warren makes the case that English poet John Milton also had a substantial influence on Marx and Engel’s work.[18]Historians of 19th-century reading habits have confirmed that Marx and Engels would have read these authors, and it is known that Marx loved Shakespeare, in particular.[19][20][21] Milton, Warren argues, also shows a notable influence on The Communist Manifesto: “Looking back on Milton’s era, Marx saw a historical dialectic founded on inspiration in which freedom of the press, republicanism, and revolution were closely joined.”[22] Milton’s republicanism, Warren continues, served as “a useful, in unlikely, bridge” as Marx and Engels sought to forge a revolutionary international coalition.

References

Source text

Footnotes

  1. Jump up^ Laski, Harold (1948). “Introduction”. Communist Manifesto: Socialist LandmarkGeorge Allen and Unwin. p. 22.
  2. Jump up^ Laski, Harold (1948). “Introduction”. Communist Manifesto: Socialist LandmarkGeorge Allen and Unwin. p. 26.
  3. Jump up^ Louise Yeoman. “Helen McFarlane – the radical feminist admired by Karl Marx“. BBC Scotland. 25 November 2012.
  4. Jump up^ Leopold, David (2015). “Marx Engels and Other Socialisms”. In Carver, Terrell; Farr, James. The Cambridge Companion to The Communist Manifesto. Cambridge: Cambridge University Press.
  5. Jump up^ Marx/Engels Collected Works, Volume 6, p. xxvi
  6. Jump up^ Osborne, Peter. 1998. “Remember the Future? The Communist Manifesto as Historical and Cultural Form” in Panitch, Leo and Colin Leys, Eds., The Communist Manifesto Now: Socialist Register, 1998 London: Merlin Press, p. 170. Available online from the Socialist Register archives. Retrieved November 2015.
  7. Jump up^ Raines, John (2002). “Introduction”. Marx on Religion (Marx, Karl). Philadelphia: Temple University Press. p. 5.
  8. Jump up^ Harman, Chris (2010). “The Manifesto and the World of 1848”. The Communist Manifesto (Marx, Karl and Engels, Friedrich). Bloomsbury, London: Bookmarks. p. 3.
  9. Jump up^ Callinicos, Alex (2010). “The Manifesto and the Crisis Today”. The Communist Manifesto (Marx, Karl and Engels, Friedrich). Bloomsbury, London: Bookmarks. p. 8.
  10. Jump up^ “The Marx effect”The London Evening Standard. 23 April 2012. Retrieved 8 May 2012.
  11. Jump up^ Steger, Manfred B. The Quest for Evolutionary Socialism: Eduard Bernstein And Social Democracy. Cambridge, England, UK; New York City, USA: Cambridge University Press, 1997. pp. 236–37.
  12. Jump up^ Micheline R. Ishay. The History of Human Rights: From Ancient Times to the Globalization Era. Berkeley and Lose Angeles, California: University of California Press, 2008. p. 148.
  13. Jump up^ Michael Harrington. Socialism: Past and Future. Reprint edition of original published in 1989. New York City: Arcade Publishing, 2011. pp. 249–50.
  14. Jump up^ Boyer 1998, p. 151.
  15. Jump up^ The [sic!] is that of Joseph Schumpeter; see Schumpeter 1997, p. 8 n2.
  16. Jump up^ Hobsbawm 2011, p. 108.
  17. Jump up^ Derrida, Jacques. “What is Ideology?” in Specters of Marx, the state of the debt, the Work of Mourning, & the New International, translated by Peggy Kamuf, Routledge 1994.
  18. Jump up^ Warren, Christopher N (2016). “Big Leagues: Specters of Milton and Republican International Justice between Shakespeare and Marx.” Humanity: An International Journal of Human Rights, Humanitarianism, and Development, Vol. 7.
  19. Jump up^ Rose, Jonathan (2001). The Intellectual Life of the British Working Classes. Pgs. 26, 36-37, 122-25, 187.
  20. Jump up^ Taylor, Antony (2002). “Shakespeare and Radicalism: The Uses and Abuses of Shakespeare in Nineteenth-Century Popular Politics.” Historical Journal 45, no. 2. Pgs. 357-79.
  21. Jump up^ Marx, Karl (1844). “On the Jewish Question.”
  22. Jump up^ Warren, Christopher N (2016). “Big Leagues: Specters of Milton and Republican International Justice between Shakespeare and Marx.” Humanity: An International Journal of Human Rights, Humanitarianism, and Development, Vol. 7. Pg. 372.

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Interview with Professor John Taylor

The Fed Should Raise Rates to Help the Economy – John Taylor

Published on Nov 13, 2015

 The Federal Reserve should return to conventional monetary policy as soon as possible as higher interest rates would be beneficial to the U.S. economy, said noted economist John Taylor of Stanford University. Taylor spoke with TheStreet during a conference called ‘Rethinking Monetary Policy,’ which was held at the Cato Institute in Washington D.C. Thursday. ‘To me the rethinking in some sense is going back and seeing why things worked well when they did in the ‘80s and ’90s until this period,’ said Taylor. ‘Rethinking means adapting some of the things that we forgot.’ Taylor argues that unconventional Fed policy, which was enacted in response to the financial crisis, has in some ways been detrimental. ‘The world has suffered in a way from being off track, from these very unusual policies. And so fixing that, getting back to where I think the Fed wants to go, would be an improvement,’ explained Taylor. ‘Just globally speaking, it’s not been a very successful decade,’ he added. Taylor argues for a rules-based policy system for Central Banks, saying it would lead to less volatility in policy making. TheStreet’s Rhonda Schaffler reports.

John B. Taylor’s Keynote Address: Monetary Rules for a Post-Crisis World

Monetary Policy Based on the Taylor Rule

Debate on the “Neutral” Interest Rate: Opening Presentations

Debate on the “Neutral” Interest Rate: John Taylor’s Take

Debate on the “Neutral” Interest Rate: Audience Q&A

A Powell, Taylor Fed Hawkish to Markets, Says Zentner

5 Keys to Restoring America’s Prosperity: John B. Taylor

n his new book, First Principles: Five Keys to Restoring America’s Prosperity, Stanford University professor of economics John B. Taylor, details the not-so-secret ingredients to rebuilding American’s economic future: predictable policy, rule of law, strong incentives, reliance on markets, and a clearly limited role for government. “America can be great again, economically speaking,” Taylor explains, “it’s just more recently where we’ve gone off track.” Taylor sat down with Reason Magazine Managing Editor Katherine Mangu-Ward to discuss his book, the principles that underlie America’s economic supremacy and what’s gone wrong over the past decade. Taylor is the Raymond Professor of Economics at Stanford University and the George Shultz Senior Fellow at Stanford’s Hoover Institution. He was Treasury Under Secretary for International Affairs from 2001 to 2005. His previous books include Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis.

John B. Taylor “How Government Interventions Caused the Financial Crisis.”

Author John B. Taylor discusses his book “Getting Off Track — How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis,” with Reason.tv’s Michael C. Moynihan.

Is the Fed Making the Crisis Worse? – John B. Taylor

Uncommon Knowledge with John B. Taylor

Economist Lee Says Taylor Can Be One of Best Fed Chairs

The Fed Should Raise Rates to Help the Economy – John Taylor

How to Think About the Federal Reserve – Peter Schiff

Exposing the Federal Reserve!

The Story of Your Enslavement

A War on Homelessness

The Owners of the Country

YOU HAVE NO RIGHTS – George Carlin

America is one big lie and you are a fool for believing in it.

Trump to Tap Jerome Powell as Next Fed Chairman

The president is expected to announce his decision Thursday

Federal Reserve governor Jerome Powell spoke in Washington on Oct. 3. He has been on the board of governors since 2012.
Federal Reserve governor Jerome Powell spoke in Washington on Oct. 3. He has been on the board of governors since 2012. PHOTO:JOSHUA ROBERTS/REUTERS

If confirmed by the Senate, Mr. Powell would succeed Fed Chairwoman Janet Yellen, the central bank’s first female leader, whose four-year term as Fed chief expires in early February.

In his five years at the Fed, Mr. Powell has been a reliable ally of Ms. Yellen and would likely continue the Fed’s current cautious approach to reversing the central bank’s crisis-era stimulus policies as the economy expands.

That would mean gradually raising short-term interest rates in quarter-percentage-point steps through 2020 while slowly shrinking the Fed’s $4.2 trillion portfolio of Treasury and mortgage-backed securities it purchased to lower long-term rates.

Mr. Powell’s nomination would mark the first time in nearly four decades that a new president hasn’t asked the serving Fed leader to stay on for another term, even though that person was nominated by a president of a different party. The last time a first-term president didn’t do that was in 1978, when President Jimmy Carter chose G. William Miller to succeed Arthur Burns.

The president spoke with Mr. Powell on Tuesday, according to people familiar with the matter who couldn’t describe what they discussed.

Mr. Trump had settled on Mr. Powell by Saturday, but people familiar with the process had cautioned that he could change his mind. The president plans to formally announce the decision Thursday before he leaves for a trip to Asia on Friday.

Reached by phone Wednesday, both Mr. Powell and Ms. Yellen declined to comment. A Fed spokeswoman also declined to comment.

Ms. Yellen was one of five finalists for the position, along with Stanford University economics professor John Taylor, former Fed governor Kevin Warsh and National Economic Council Director Gary Cohn.

Mr. Taylor and Mr. Warsh didn’t respond to requests seeking comment Wednesday. Mr. Cohn’s spokeswoman didn’t immediately respond to a request for comment.

Mr. Trump said in a video last week that he had “somebody very specific in mind” for the job. “It will be a person who hopefully will do a fantastic job,” Mr. Trump said in a video posted to Instagram, adding, “I think everybody will be very impressed.”

Fed officials began raising their benchmark federal-funds rate in December 2015 after holding it near zero for seven years following the financial crisis. They voted in June to lift rates to a range between 1% and 1.25% and in October started the process of slowly shrinking the Fed’s bond portfolio.

FED SPEECH ANALYZER

“The economy is as close to our assigned goals as it has been for many years,” Mr. Powell said in June. If it continues growing as expected, “I would view it as appropriate to continue to gradually raise rates.”

Officials have penciled in one more rate increase this year. But they indicated in September such increases are likely to end at a lower point than they had previously projected—at a longer-run level of around 2.75%—considerably lower than where officials have stopped raising rates in the past.

Mr. Trump told The Wall Street Journal in July, “I’d like to see rates stay low.”

The Fed on Wednesday left short-term interest rates unchanged, but signaled it would consider lifting them before year’s end amid signs the economy is gaining momentum.

Mr. Powell has never dissented on a Fed monetary or regulatory policy vote and in speeches hasn’t deviated far from the board’s consensus.

Where he could lead a shift is on regulatory policy. He has advocated loosening some of the financial rules adopted by the Fed and other agencies since the crisis, a position that meshes with Mr. Trump’s deregulatory agenda. Mr. Powell has suggested softening the Volcker rule barring banks from using their own money to make risky bets and easing some bank stress tests.

He also has endorsed reviewing some of the supervisory duties imposed on banks’ boards of directors to prevent them from being burdened with “an ever-increasing checklist.”

“More regulation is not the best answer to every problem,” Mr. Powell said in a speech in early October.

How Fed Chairs Have Fared

A look at various Fed regimes, and how they used interest rates to manage inflation, growth and the economy

*Seasonally adjusted †Change from a year earlier in the price index for personal-consumption expenditures

Source: Federal Reserve Bank of St. Louis

“To some extent he offers Trump the best of both worlds. You get broadly speaking continuity of Yellen’s careful and relatively dovish approach to monetary policy but with somebody who is a card-carrying Republican and who is significantly more inclined to revisit some of the postcrisis regulations,” said Krishna Guha, vice chairman at Evercore ISI and a former New York Fed official.

Karen Petrou, managing partner of the financial-services consulting firm Federal Financial Analytics, said Mr. Powell’s recent remarks on regulation “were certainly much more flexible than [Ms. Yellen] has been.”

Mr. Powell, a lawyer, would be the first Fed leader in three decades without a Ph.D. in economics. Before joining the Fed board, Mr. Powell worked as an investment banker in New York City, as Treasury undersecretary for financial institutions in the George H.W. Bush administration, as a partner at the Carlyle Group and as a scholar at the Bipartisan Policy Center.

That background could serve him well, said Aaron Klein, an economic studies fellow at the Brookings Institution and director of the Center on Regulation and Markets.

“The Federal Reserve’s mandate has grown significantly since the financial crisis,” he said. “With a broader mandate, one should expect broader and more diverse backgrounds of potential good fits for a chair.”

“He would represent continuity of the Fed system and culture but a break from the predominance of monetary policy as the core background of the chair,” Mr. Klein said.

The decision marks the culmination of an unusually public and drawn-out search for one of the top economic policy-making jobs in the world.

Mr. Trump upended the usually staid selection process by openly weighing the pros and cons of various candidates and asking lawmakers, businesspeople and media personalities for their input.

Mr. Trump polled GOP senators last month on their preferred choice at a lunch on Capitol Hill, and said he was still considering “two, and maybe three” people for the job.

Mr. Trump has other opportunities to reshape the central bank. Randal Quarles, his first nominee to the Fed’s powerful seven-member board of governors, took office in October. Three other seats remain open.

Nominations for all board positions, including chairman and vice chairman, are subject to Senate confirmation.

Mr. Powell should have little trouble winning Senate approval, but his views could clash with those of some Republican senators who have criticized him for supporting the Fed’s easy-money and postcrisis regulatory policies.

He won confirmation to the Fed with bipartisan support in the Senate twice before: to fill an unfinished governor’s term in 2012 and for a full term in 2014. Some Republicans have suggested he could face difficult questions from his own side of the aisle. “I think we should move in a different direction,” from current Fed policies, Sen. Pat Toomey (R., Pa.) said last month about the possibility of a Powell nomination.

Write to Kate Davidson at kate.davidson@wsj.com, Peter Nicholas at

https://www.wsj.com/articles/trump-to-tap-feds-jerome-powell-for-fed-chairman-1509568166

Taylor rule

From Wikipedia, the free encyclopedia

In economics, a Taylor rule is a reduced form approximation of the responsiveness of the nominal interest rate, as set by the central bank, to changes in inflationoutput, or other economic conditions. In particular, the rule describes how, for each one-percent increase in inflation, the central bank tends to raise the nominal interest rate by more than one percentage point. This aspect of the rule is often called the Taylor principle. Although such rules may serve as concise, descriptive proxies for central bank policy, and are not explicitly proscriptively considered by central banks when setting nominal rates.

The rule was first proposed by John B. Taylor,[1] and simultaneously by Dale W. Henderson and Warwick McKibbin in 1993.[2] It is intended to foster price stability by systematically reducing uncertainty and increasing the credibility of future actions by the central bank. It may also avoid the inefficiencies of time inconsistency from the exercise of discretionary policy.[3] The Taylor rule synthesized, and provided a compromise between, competing schools of economics thought in a language devoid of rhetorical passion.[4] Although many issues remain unresolved and views still differ about how the Taylor rule can best be applied in practice, research shows that the rule has advanced the practice of central banking.[5]

As an equation

According to Taylor’s original version of the rule, the nominal interest rate should respond to divergences of actual inflation rates from target inflation rates and of actual Gross Domestic Product (GDP) from potential GDP:

{\displaystyle i_{t}=\pi _{t}+r_{t}^{*}+a_{\pi }(\pi _{t}-\pi _{t}^{*})+a_{y}(y_{t}-{\bar {y}}_{t}).}i_{t}=\pi _{t}+r_{t}^{*}+a_{\pi }(\pi _{t}-\pi _{t}^{*})+a_{y}(y_{t}-{\bar y}_{t}).

In this equation, {\displaystyle \,i_{t}\,}\,i_{t}\, is the target short-term nominal interest rate (e.g. the federal funds rate in the US, the Bank of England base rate in the UK), {\displaystyle \,\pi _{t}\,}\,\pi _{t}\, is the rate of inflation as measured by the GDP deflator{\displaystyle \pi _{t}^{*}}\pi _{t}^{*} is the desired rate of inflation, {\displaystyle r_{t}^{*}}r_{t}^{*} is the assumed equilibrium real interest rate, {\displaystyle \,y_{t}\,}\,y_{t}\, is the logarithm of real GDP, and {\displaystyle {\bar {y}}_{t}}{\bar y}_{t} is the logarithm of potential output, as determined by a linear trend.

In this equation, both {\displaystyle a_{\pi }}a_{{\pi }} and {\displaystyle a_{y}}a_{y} should be positive (as a rough rule of thumb, Taylor’s 1993 paper proposed setting {\displaystyle a_{\pi }=a_{y}=0.5}a_{{\pi }}=a_{y}=0.5).[6] That is, the rule “recommends” a relatively high interest rate (a “tight” monetary policy) when inflation is above its target or when output is above its full-employment level, in order to reduce inflationary pressure. It recommends a relatively low interest rate (“easy” monetary policy) in the opposite situation, to stimulate output. Sometimes monetary policy goals may conflict, as in the case of stagflation, when inflation is above its target while output is below full employment. In such a situation, a Taylor rule specifies the relative weights given to reducing inflation versus increasing output.

The Taylor principle

By specifying {\displaystyle a_{\pi }>0}a_{{\pi }}>0, the Taylor rule says that an increase in inflation by one percentage point should prompt the central bank to raise the nominal interest rate by more than one percentage point (specifically, by {\displaystyle 1+a_{\pi }}1+a_{{\pi }}, the sum of the two coefficients on {\displaystyle \pi _{t}}\pi _{t} in the equation above). Since the real interest rate is (approximately) the nominal interest rate minus inflation, stipulating {\displaystyle a_{\pi }>0}a_{{\pi }}>0 implies that when inflation rises, the real interest rate should be increased. The idea that the real interest rate should be raised to cool the economy when inflation increases (requiring the nominal interest rate to increase more than inflation does) has sometimes been called the Taylor principle.[7]

Alternative versions of the rule

Effective federal funds rate and prescriptions from alternate versions of the Taylor Rule

While the Taylor principle has proved very influential, there is more debate about the other terms that should enter into the rule. According to some simple New Keynesian macroeconomic models, insofar as the central bank keeps inflation stable, the degree of fluctuation in output will be optimized (Blanchard and Gali call this property the ‘divine coincidence‘). In this case, the central bank does not need to take fluctuations in the output gap into account when setting interest rates (that is, it may optimally set {\displaystyle a_{y}=0}a_{y}=0.) On the other hand, other economists have proposed including additional terms in the Taylor rule to take into account financial conditions: for example, the interest rate might be raised when stock prices, housing prices, or interest rate spreads increase.

• Taylor Rule 1993 – the original definition by John Taylor with {\displaystyle a_{\pi }=a_{y}=0.5}{\displaystyle a_{\pi }=a_{y}=0.5}

• Taylor Rule 1999 – adapted and updated by John Taylor in a new research paper: {\displaystyle a_{\pi }=0.5,a_{y}\geq 0}{\displaystyle a_{\pi }=0.5,a_{y}\geq 0}

Empirical relevance

Although the Federal Reserve does not explicitly follow the Taylor rule, many analysts have argued that the rule provides a fairly accurate summary of US monetary policy under Paul Volcker and Alan Greenspan.[8][9] Similar observations have been made about central banks in other developed economies, both in countries like Canada and New Zealand that have officially adopted inflation targeting rules, and in others like Germany where the Bundesbank‘s policy did not officially target the inflation rate.[10][11] This observation has been cited by ClaridaGalí, and Gertler as a reason why inflation had remained under control and the economy had been relatively stable (the so-called ‘Great Moderation‘) in most developed countries from the 1980s through the 2000s.[8] However, according to Taylor, the rule was not followed in part of the 2000s, possibly leading to the housing bubble.[12][13] Certain research has determined that some households form their expectations about the future path of interest rates, inflation, and unemployment in a way that is consistent with Taylor-type rules.[14]

Criticisms

Athanasios Orphanides (2003) claims that the Taylor rule can misguide policy makers since they face real-time data. He shows that the Taylor rule matches the US funds rate less perfectly when accounting for these informational limitations and that an activist policy following the Taylor rule would have resulted in an inferior macroeconomic performance during the Great Inflation of the seventies.[15]

In 2015, financial manager Bill Gross said the Taylor rule “must now be discarded into the trash bin of history”, in light of tepid GDP growth in the years after 2009.[16] Gross believed low interest rates were not the cure for decreased growth, but the source of the problem.

See also

References

  1. Jump up^ Taylor, John B. (1993). “Discretion versus Policy Rules in Practice” (PDF). Carnegie-Rochester Conference Series on Public Policy39: 195–214. (The rule is introduced on page 202.)
  2. Jump up^ Henderson, D. W.; McKibbin, W. (1993). “A Comparison of Some Basic Monetary Policy Regimes for Open Economies: Implications of Different Degrees of Instrument Adjustment and Wage Persistence”. Carnegie-Rochester Conference Series on Public Policy39: 221–318. doi:10.1016/0167-2231(93)90011-K.
  3. Jump up^ Taylor, John (2012). First Principles: Five Keys to Restoring America’s Economic Prosperity. New York: W.W. Norton & Company, Inc. p. 126
  4. Jump up^ Kahn, George A.; Asso, Pier Francesco; Leeson, Robert (2007). “The Taylor Rule and the Transformation of Monetary Policy”. Federal Reserve Bank of Kansas City Working Paper 07-11SSRN 1088466Freely accessible.
  5. Jump up^ Asso, Pier Francesco; Kahn, George A.; Leeson, Robert (2010). “The Taylor Rule and the Practice of Central Banking”. Federal Reserve Bank of Kansas City Working Paper 10-05SSRN 1553978Freely accessible.
  6. Jump up^ Athanasios Orphanides (2008). “Taylor rules,” The New Palgrave Dictionary of Economics, 2nd Edition. v. 8, pp. 2000-2004, equation (7).Abstract.
  7. Jump up^ Davig, Troy; Leeper, Eric M. (2007). “Generalizing the Taylor Principle”. American Economic Review97 (3): 607–635. JSTOR 30035014doi:10.1257/aer.97.3.607.
  8. Jump up to:a b Clarida, Richard; Galí, Jordi; Gertler, Mark (2000). “Monetary Policy Rules and Macroeconomic Stability: Theory and Some Evidence”. Quarterly Journal of Economics115 (1): 147–180. JSTOR 2586937doi:10.1162/003355300554692.
  9. Jump up^ Lowenstein, Roger (2008-01-20). “The Education of Ben Bernanke”The New York Times.
  10. Jump up^ Bernanke, Ben; Mihov, Ilian (1997). “What Does the Bundesbank Target?”. European Economic Review41 (6): 1025–1053. doi:10.1016/S0014-2921(96)00056-6.
  11. Jump up^ Clarida, Richard; Gertler, Mark; Galí, Jordi (1998). “Monetary Policy Rules in Practice: Some International Evidence”. European Economic Review42 (6): 1033–1067. doi:10.1016/S0014-2921(98)00016-6.
  12. Jump up^ Taylor, John B. (2008). “The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong” (PDF).
  13. Jump up^ Taylor, John B. (2009). Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Financial Crisis. Hoover Institution Press. ISBN 0-8179-4971-2.
  14. Jump up^ Carvalho, Carlos; Nechio, Fernanda (2013). “Do People Understand Monetary Policy?”. Federal Reserve Bank of San Francisco Working Paper 2012-01SSRN 1984321Freely accessible.
  15. Jump up^ Orphanides, A. (2003). “The Quest for Prosperity without Inflation”. Journal of Monetary Economics50 (3): 633–663. doi:10.1016/S0304-3932(03)00028-X.
  16. Jump up^ Bill Gross (July 30, 2015). “Gross: Low rates are the problem, not the solution”CNBC. Retrieved July 30, 2015.

External links

https://en.wikipedia.org/wiki/Taylor_rule

Real interest rate

From Wikipedia, the free encyclopedia

Yields on inflation-indexed government bonds of selected countries and maturities.

The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is approximately the nominal interest rate minus the inflation rate.

If, for example, an investor were able to lock in a 5% interest rate for the coming year and anticipated a 2% rise in prices, they would expect to earn a real interest rate of 3%.[1] The expected real interest rate is not a single number, as different investors have different expectations of future inflation. Since the inflation rate over the course of a loan is not known initially, volatility in inflation represents a risk to both the lender and the borrower.

In the case of contracts stated in terms of the nominal interest rate, the real interest rate is known only at the end of the period of the loan, based on the realized inflation rate; this is called the ex-post real interest rate. Since the introduction of inflation-indexed bondsex-ante real interest rates have become observable.[2]

Risks

In economics and finance, an individual who lends money for repayment at a later point in time expects to be compensated for the time value of money, or not having the use of that money while it is lent. In addition, they will want to be compensated for the risks of having less purchasing power when the loan is repaid. These risks are systematic risks, regulatory risks and inflation risks. The first includes the possibility that the borrower will default or be unable to pay on the originally agreed upon terms, or that collateral backing the loan will prove to be less valuable than estimated. The second includes taxation and changes in the law which would prevent the lender from collecting on a loan or having to pay more in taxes on the amount repaid than originally estimated. The third takes into account that the money repaid may not have as much buying power from the perspective of the lender as the money originally lent, that is inflation, and may include fluctuations in the value of the currencies involved.

Nominal interest rates include all three risk factors, plus the time value of the money itself.
Real interest rates include only the systematic and regulatory risks and are meant to measure the time value of money.

The “real interest rate” in an economy is often considered to be the rate of return on a risk free investment, such as US Treasury notes, minus an index of inflation, such as the rate of change of the CPI or GDP deflator.

Fisher equation

The relation between real and nominal interest rates and the expected inflation rate is given by the Fisher equation

{\displaystyle 1+i=(1+r)(1+\pi _{e})}1+i=(1+r)(1+\pi _{e})

where

i = nominal interest rate;
r = real interest rate;
{\displaystyle \pi _{e}}\pi _{e} = expected inflation rate.

For example, if somebody lends $1000 for a year at 10%, and receives $1100 back at the end of the year, this represents a 10% increase in her purchasing power if prices for the average goods and services that she buys are unchanged from what they were at the beginning of the year. However, if the prices of the food, clothing, housing, and other things that she wishes to purchase have increased 25% over this period, she has in fact suffered a real loss of about 15% in her purchasing power. (Notice that the approximation here is a bit rough; since 1.1/1.25 = 0.88 = 1 – 0.12, the actual loss of purchasing power is exactly 12%.

Variations in inflation

The inflation rate will not be known in advance. People often base their expectation of future inflation on an average of inflation rates in the past, but this gives rise to errors. The real interest rate ex-post may turn out to be quite different from the real interest rate (ex-ante real interest rate) that was expected in advance. Borrowers hope to repay in cheaper money in the future, while lenders hope to collect on more expensive money. When inflation and currency risks are underestimated by lenders, then they will suffer a net reduction in buying power.

The complexity increases for bonds issued for a long term, where the average inflation rate over the term of the loan may be subject to a great deal of uncertainty. In response to this, many governments have issued real return bonds, also known as inflation-indexed bonds, in which the principal value and coupon rises each year with the rate of inflation, with the result that the interest rate on the bond approximates a real interest rate. (E.g., the three-month indexation lag of TIPS can result in a divergence of as much as 0.042% from the real interest rate, according to research by Grishchenko and Huang.[3]) In the US,