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Pronk Pops Show 1011, December 11, 2017

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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

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Pronk Pops Show 996, November 6, 2017

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Pronk Pops Show 992, October 31, 2017

Pronk Pops Show 991, October 30, 2017

Pronk Pops Show 990, October 26, 2017

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Pronk Pops Show 987, October 19, 2017

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Pronk Pops Show 983, October 13, 2017

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Pronk Pops Show 975, September 29, 2017

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Pronk Pops Show 971, September 25, 2017

Pronk Pops Show 970, September 22, 2017

Pronk Pops Show 969, September 21, 2017

Pronk Pops Show 968, September 20, 2017

Pronk Pops Show 967, September 19, 2017

Pronk Pops Show 966, September 18, 2017

Pronk Pops Show 965, September 15, 2017

Pronk Pops Show 964, September 14, 2017

Pronk Pops Show 963, September 13, 2017

Pronk Pops Show 962, September 12, 2017

Pronk Pops Show 961, September 11, 2017

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: 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 1006, November 27, 2017, Story 1: Downsizing Big Government By Abolishing The Consumer Financial Protection Bureau, Federal Reserve, Internal Revenue Service, Fannie May & Freddie Mac, and Departments of Agriculture, Education, Commerce, Energy, Housing and Urban Development, Interior, Labor, and Transportation For Starters — Neither Big Government Democratic or Republican Parties  Will Do This — Two Party Tyranny —  Time for New Political Party — Repeal Dodd-Frank Law — Videos — Story 2: Competition Lowers Prices and Provides Greater Choice and Quality — Net Neutrality Is Government Controlling, Licensing, Regulating, and Taxing of The Internet Including Prices and Content — Repeal Net Neutrality In December 2017 — Let Consumer Sovereignty with Free Enterprise Market Capitalism Reign –Videos

Posted on November 27, 2017. Filed under: American History, Banking System, Blogroll, Breaking News, Budgetary Policy, Cartoons, Communications, Congress, Constitutional Law, Countries, Culture, Defense Spending, Donald J. Trump, Donald Trump, Economics, Education, Employment, Fiscal Policy, Freedom of Speech, Government Spending, History, House of Representatives, Human, Illegal Immigration, Immigration, Independence, Insurance, Investments, Law, Legal Immigration, Life, Media, Medicare, Monetary Policy, News, People, Philosophy, Photos, Politics, Polls, President Trump, Raymond Thomas Pronk, Rule of Law, Scandals, Security, Senate, Social Security, Success, Tax Policy, Taxation, Taxes, United States of America, Videos, War, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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See the source imageSee the source imageImage result for quotes on government intervention

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Story 1: Downsizing Big Government By Abolishing The Consumer Financial Protection Bureau, Federal Reserve, Internal Revenue Service, Fannie May &amp; Freddie Mac, and Departments of Agriculture, Education, Commerce, Energy, Housing and Urban Development, Interior, Labor, and Transportation For Starters — Neither Big Government Democratic or Republican Parties  Will Do This — Two Party Tyranny —  Time for New Political Party — Repeal Dodd-Frank Law — Videos —

Lawsuit filed to determine CFPB acting director

Showdown over Consumer Financial Protection Bureau leader

Mick Mulvaney CFPB Press Brief. Very Interesting.

Consumer Head Responds To Calls For His Removal (Exclusive) | Morning Joe | MSNBC

Consumer Financial Protection Bureau actually hurting consumer lending?

Republicans Propose Cutting Funds To Consumer Financial Protection Bureau – Forbes On Fox

Who Benefits From a Dodd-Frank Regulation Reboot?

Tom Easton on Dodd-Frank: “A Terrible Law”

Trump takes aim at Dodd-Frank

What is all the Dodd Frank talk really about?

Janet Yellen on Dodd-Frank: ‘I wouldn’t want to see the clock turned back’

Greenspan: Repeal Dodd-Frank, Return to Square One

Ralph Nader on the Consumer Financial Protection Bureau

Government: Is it Ever Big Enough?

Can the government ever be too big? How much spending is enough spending? And if there can be too much spending, where is that point? William Voegeli, Senior Editor of the Claremont Review of Books, explores these complex questions and offers some clear answers.

There Is Only One Way Out of Poverty

How Housing Policy Caused the Financial Crisis

How This Government Agency Hurts Us All

The Future of Fannie Mae and Freddie Mac

Mick Mulvaney Trashes Consumer Protection Agency At January Confirmation Hearing | NBC News

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Downsizing the Federal Government

John Stossel – Downsizing Government

Uncommon Knowledge: John Stossel on Why the Media Hates Business and Why Governments Fail

Dan Mitchell Commenting on Downsizing Government and Federal Bureaucracy

Types of Bureaucracies: Crash Course Government and Politics #16

The real truth about the 2008 financial crisis | Brian S. Wesbury | TEDxCountyLineRoad

he Financial Crisis of 2008 – the most dangerous crisis since the Great Depression (Documentary)

Dennis Prager’s Top 10 Ways Liberalism Makes America Worse

Why You’ve Never Heard of the Great Depression of 1920 | Thomas E. Woods, Jr.

 

Peter J. Wallison

From Wikipedia, the free encyclopedia
Peter Wallison
Peter Wallison 1986.jpg
White House Counsel
In office
May 23, 1986 – March 20, 1987
President Ronald Reagan
Preceded by Fred Fielding
Succeeded by Arthur Culvahouse
Personal details
Born June 6, 1941 (age 76)
New York CityNew YorkU.S.
Political party Republican
Spouse(s) Frieda Wallison
Children 3
Education Harvard University(BALLB)
[1]

Peter J. Wallison (born June 6, 1941) is a lawyer and the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute. He specializes in financial markets deregulation. He was White House Counselduring the Tower Commission‘s inquiry into the Iran Contra Affair.[1] He was a dissenting member of the 2010 Financial Crisis Inquiry Commission, frequent commentator in the mass media on the federal takeover of Fannie Mae and Freddie Mac and the financial crisis of 2007–2008 and wrote Hidden in Plain Sight (2015) about the crisis and its legacy.

Personal

Wallison was born in New York City, and educated at the Capitol Page School and Harvard University (A.B. 1963, LL.B. 1966), where he was President of the Young Republicans.[2] He was admitted to the bar of New York state in 1967.[3][4]

Emanuel Celler appointed him a United States House of Representatives Page when he was about 14, and he served for most of his high school years. The Democrats controlled the patronage, but assigned some pages, such as Wallison, to the minority party. This experience helped him become a Republican.[2]

He was a Rockefeller Republican before becoming a Reagan Republican.

On November 24, 1966, he married the former Frieda Koslow (born in New York January 15, 1943, A.B. Smith College 1963, LL.B. Harvard Law School 1966 admitted to New York bar in 1967, D.C. bar 1982). They have three children, Ethan S., Jeremy L., Rebecca K. Mrs. Wallison develops real estate in Snowmass, Colorado.[5][6][7][8][9]

They split their time between homes in Colorado and in Washington, D.C.

Career

Other

In 1999, Wallison told New York Times reporter Steven A. Holmes that the expansion of mortgage loans by reducing the amount borrowers have to put down and extending loans to so-called subprime borrowers was creating a situation where Fannie Mae was taking on significantly more risk. “From the perspective of many people, including me, this is another thrift industry growing up around us,” he said. “If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”[10] The article pointed out that the Clinton Administration had put pressure on Fannie Mae to lower standards “to expand loans among low and moderate income people.”

Wallison gave a eulogy at a memorial service for Don Regan in June 2003.[2]

Wallison’s writing on the cause of the Financial crisis of 2007–08 have brought much comment. In December, 2011, the New York Times financial columnist Joe Nocera stated that Wallison had “almost single-handedly created the myth that Fannie Mae and Freddie Maccaused the financial crisis.” [11] Calling it “a big lie,” Nocera suggested that Wallison had engaged in a deliberate deception. Economist Paul Krugman has also accused Wallison of deception,[12] criticizing him for—among other things—attacking Fannie and Freddie in a magazine article just a year before the subprime mortgage collapse for not doing a “better job of providing affordable home financing to a neglected portion of the mortgage market.” This neglected portion consisted of “African-American … Hispanic”, and “low-income borrowers”.[13][14][15] Wallison cites New York Times columnist Gretchen Morgenson exposing how “Democratic political operative Jim Johnson turned Fannie Mae into a political machine”, and dismisses the exoneration of the GSEs as “the big lie.”[16]

Memberships

Writings

“Elitist Protection Consumers Don’t Need”The Washington Post. 2009-07-13. Retrieved 2009-07-14.
“Obama Voted ‘Present’ on Mortgage Reform. The only banking ‘deregulation’ in recent years was that of Fan and Fred”Opinion Journal. 2008-10-15. Archived from the original on 2008-10-15. Retrieved 2008-01-30.
“How Paulson Would Save Fannie Mae”The Wall Street Journal. 2008-09-12. Archived from the original on 2008-09-14. Retrieved 2009-07-14.
“Reagan and McCain”American Spectator. 2008-01-08. Archived from the original on 2008-10-24. Retrieved 2008-01-30.
“What We Pre-Empted – Today’s world would be far worse if Saddam were still in power”Opinion JournalWall Street Journal. 2007-07-11. Retrieved 2008-01-30.
“Reagan, Iraq, and Neoconservatism”American Spectator. 2004-04-16. Archived from the original on 2008-10-23. Retrieved 2008-01-30.
“Bush’s Reagan Moment”The New York Times. 2003-10-26. Archived from the original on January 19, 2011. Retrieved 2009-07-13.

References

Story 2: Competition Lowers Prices and Provides Greater Choice and Quality — Net Neutrality Is Government Controlling, Licensing, Regulating, and Taxing of The Internet Including Prices and Content — Repeal Net Neutrality In December 2017 — Let Consumer Sovereignty with Free Enterprise Market Capitalism Reign –Videos

FCC chairman: Repealing net neutrality will benefit the market

How will rolling back net neutrality affect consumers? You’ll have to read the fine print.

What is Net Neutrality?

The Truth About Net Neutrality

Net Neutrality is Orwellian

The Truth About Net Neutrality

Net Neutrality Explained

Net Neutrality: What You Absolutely Need to Know and What No One’s Telling You

FCC’s Ajit Pai: Net Neutrality is a “Solution That Won’t Work to a Problem That Doesn’t Exist”

George Gilder: Net Neutrality Is a ‘Ludicrous’ Idea That Will Shrink the Economy

Two Minutes on Why Net Neutrality is Terrible – Mark Cuban Explains

Net Neutrality Neuters the Internet

Net Neutrality is a disaster. The better the name of the legislation the scarier it is.

The pitfalls of Title I versus II Net Neutrality and other oxymorons to fear ‒ Lionel

The Lies of Net Neutrality

Peter Klein: The Net Neutrality Lie

Net Neutrality Explained. Simply and Accurately!

The Truth About ‘Net Neutrality,’ The Left, And Google

I play in the intersection of law and technology.  Opinions expressed by Forbes Contributors are their own.

As soon as FCC Chairman Ajit Pai announced his intention to roll back Obama’s net neutrality rules, the Left’s net neutrality faithful began chanting their well-worn mantras about “big corporations” taking over the internet. Their mantras are based on fear mongering, not fact.

Shutterstock

In their net neutrality fairy tale, internet service providers (ISPs) are the ‘big bad wolf,’ bent on creating paid ‘fast lanes’ and blocking the websites of entrepreneurs (who invariably work out of their garages). It sounds like a frightful tale, except that ISPs have never offered paid fast lanes or blocked small business owners’ web sites (run out of garages or otherwise). Meanwhile, the biggest baddest wolf the world has ever known — Google — swallowed the internet ecosystem whole and spit out its bones.

According to Democratic leaders in the Senate, net neutrality is the principle that “what you read, see or watch online shouldn’t be favored, blocked or slowed down based on where that content is coming from.” Google became the world’s largest corporation by trampling on this principle while the Left cheered (or turned a blind eye) .

For one, Google uses its monopoly position in internet search markets to systematically favor its own products in its search results. People might think that Google’s search service uses an objective algorithm that gives them the most relevant responses to their search inquiries. What really happens is that Google shows its own products in the most prominent positions on the screen in order to artificially divert traffic from rival services to Google’s own. As former Google designer Tristan Harris describes it, “if you control the menu, you control the choices.”

Second, Google uses its monopoly position in mobile operating systems (Android is dominant worldwide) to preserve and strengthen its dominance in general internet search and over consumer data collection by:

  • Forcing manufacturers to pre-install Google Search and Google’s Chrome browser and set Google Search as the default search service on their devices as a condition to licensing Google’s proprietary apps,
  • Blocking manufacturers from selling mobile devices that use competing operating systems that are based on Android’s supposedly “open source” code (like Amazon’s Kindle Fire), and
  • Giving financial incentives to manufacturers and mobile network operators on condition that they exclusively pre-install Google Search on their devices (a form of paid prioritization).

Google uses these tactics to ‘control the menu’ on the vast majority of the world’s mobile devices like Google controls the menu on its search products themselves.

Third, Google uses its dominant position in internet advertising to favor its own search and advertising services. A substantial portion of Google’s revenue from search advertising comes from a limited number of third-parties with whom Google has exclusive deals. For a decade, these deals required third-parties to:

  • Refuse to source search ads from Google’s competitors,
  • Take a minimum number of ads from Google and reserve premium space for Google search ads, and
  • Obtain approval from Google before making any changes to the display of competing search ads.

None of these Google practices are consistent with the Left’s net neutrality principles or fair competition. In 2012, staff at the Federal Trade Commission concluded that Google’s anticompetitive conduct had strengthened its monopolies and caused “real harm to consumers and to innovation” that “will have lasting negative effects on consumer welfare.” Yet the Obama administration decided to focus its energy on ISPs while letting Google run wild. Obama appointees at the FTC gave short shrift to the findings of the agency’s professional staff while the Obama-led Federal Communications Commission exempted Google’s monopolies from the current net neutrality rules.

The results were predictable: Google is now the largest company in the world and has unprecedented power to control what we read, see, or watch online. Rather than reign Google in, the net neutrality rules the Left wants to preserve have served to strengthen Google’s control over the media.

The current net neutrality debate is just “fighting the last war.” It’s time to have an honest conversation about today’s real internet monopolies and the future of a free media in this country.

https://www.forbes.com/sites/fredcampbell/2017/05/03/the-truth-about-net-neutrality-the-left-and-google/#40c2c6583745

Q&A-Explaining the fight over U.S. ‘net neutrality’ regulations

WASHINGTON, Nov 22 (Reuters) – The U.S. Federal Communications Commission is poised to vote on Dec. 14 to rescind the so-called net neutrality rules championed by former President Barack Obama.

FCC Chairman Ajit Pai’s proposal would repeal rules that bar internet service providers (ISPs) from blocking, slowing access to or charging more for certain content.

Here are some questions and answers about net neutrality and the FCC’s plans.

What is in the proposal and what happens next?

The FCC, an independent U.S. government agency that regulates interstate and international communications by radio, TV, wire, satellite and cable, has three Republican commissioners including Pai and two Democrats and is all but certain to approve Pai’s proposal. That would undo regulations put in place in 2015 at Democrat Obama’s urging that treat ISPs like public utilities to guarantee the open nature of the internet. It would also roll back the FCC’s significant oversight over the providers and their conduct.

Pai’s proposal would require ISPs to disclose if they allow content blocking, slowing though so-called throttling, or paid prioritization in which a third-party owner pays an ISP to have their content move more quickly. It would also eliminate the internet conduct standard that gives the FCC broad discretion to bar ISP practices it deems improper.

The new rules could into effect as early as January, although a court challenge is expected.

What does this mean for consumers?

Consumers could see changes, but any shift would likely take a long time. A major concern raised by consumer advocates is that ISPs could block or slow traffic to websites or services of their choosing, playing an outsized role in what users can and cannot access. Providers could also give preferential treatment to their own content or websites that pay extra fees, consumer advocates said.

ISPs could impede video streaming services and consumers’ ability to make free or inexpensive phone calls over the internet, advocates said.

The nonprofit Consumers Union said a repeal could lead to higher consumer prices for existing internet access and speeds. The telecommunications industry trade group USTelecom, which represents some leading ISPs, disputed that idea and said broadband prices in the United States had been trending downward before the Obama-era rules, and repealing the regulations would allow that to continue.

What businesses support the repeal?

ISPs including AT&amp;T Inc, Comcast Corp and Verizon Communications Inc favored a repeal.

USTelecom said Pai’s move would boost broadband network investment, expansion and upgrades. It said the 2015 rules applied utility-style regulations designed for the 1930s telephone system to ISPs but no other internet companies. It said repealing the rules would strengthen consumer protections by giving authority regarding the internet to a single U.S. regulator, the Federal Trade Commission.

What businesses oppose the repeal?

The Internet Association, representing major technology firms, had urged the FCC to retain the 2015 regulations. The group includes Google parent Alphabet Inc, Facebook Inc, Amazon.com Inc, video streaming service Netflix Inc, Microsoft Corp, ride-hailing company Uber, reviews business Yelp Inc, payments company PayPal Holdings Inc and others.

The group said the 2015 rules protect a “virtuous circle” of innovation that helps the broader U.S. economy as businesses turn to cloud-based technology. It added that Pai’s plan would subject startups to discrimination from ISP-owned or preferred content.

The group said paid prioritization would cause a “cable-ization” of the internet in which businesses that provide content, application or services would have to negotiate carriage deals on ISP networks.

http://www.dailymail.co.uk/wires/reuters/article-5109217/Q-A-Explaining-fight-U-S-net-neutrality-regulations.html#ixzz4zg9qbV1G

 

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The Pronk Pops Show 1005, Story 1: The Fed’s Great Unwind or Rolling Over Into 21st Century Greatest Depression — Videos — Story 2: Will President Trump Be The Next President Hoover? — Videos

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The Pronk Pops Show Podcasts

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

Pronk Pops Show 994, November 2, 2017

Pronk Pops Show 993, November 1, 2017

Pronk Pops Show 992, October 31, 2017

Pronk Pops Show 991, October 30, 2017

Pronk Pops Show 990, October 26, 2017

Pronk Pops Show 989, October 25, 2017

Pronk Pops Show 988, October 20, 2017

Pronk Pops Show 987, October 19, 2017

Pronk Pops Show 986, October 18, 2017

Pronk Pops Show 985, October 17, 2017

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Pronk Pops Show 983, October 13, 2017

Pronk Pops Show 982, October 12, 2017

Pronk Pops Show 981, October 11, 2017

Pronk Pops Show 980, October 10, 2017

Pronk Pops Show 979, October 9, 2017

Pronk Pops Show 978, October 5, 2017

Pronk Pops Show 977, October 4, 2017

Pronk Pops Show 976, October 2, 2017

Pronk Pops Show 975, September 29, 2017

Pronk Pops Show 974, September 28, 2017

Pronk Pops Show 973, September 27, 2017

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Pronk Pops Show 971, September 25, 2017

Pronk Pops Show 970, September 22, 2017

Pronk Pops Show 969, September 21, 2017

Pronk Pops Show 968, September 20, 2017

Pronk Pops Show 967, September 19, 2017

Pronk Pops Show 966, September 18, 2017

Pronk Pops Show 965, September 15, 2017

Pronk Pops Show 964, September 14, 2017

Pronk Pops Show 963, September 13, 2017

Pronk Pops Show 962, September 12, 2017

Pronk Pops Show 961, September 11, 2017

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

Pronk Pops Show 956, August 31, 2017

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Pronk Pops Show 954, August 29, 2017

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Pronk Pops Show 952, August 25, 2017

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Pronk Pops Show 950, August 23, 2017

Pronk Pops Show 949, August 22, 2017

Pronk Pops Show 948, August 21, 2017

Pronk Pops Show 947, August 16, 2017

Pronk Pops Show 946, August 15, 2017

Pronk Pops Show 945, August 14, 2017

Pronk Pops Show 944, August 10, 2017

Pronk Pops Show 943, August 9, 2017

Pronk Pops Show 942, August 8, 2017

Pronk Pops Show 941, August 7, 2017

Pronk Pops Show 940, August 3, 2017

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 Story 1: The Fed’s Great Unwind or Rolling Over Into 21st Century Greatest Depression — Videos

U.S. Debt Clock

http://www.usdebtclock.org/

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What’s the Truth About the First Thanksgiving?

Ben Shapiro: The Truth About Thanksgiving

Monetary and Fiscal Policy: Crash Course Government and Politics #48

Fiscal Policy and Stimulus: Crash Course Economics #8

What’s all the Yellen About? Monetary Policy and the Federal Reserve: Crash Course Economics #10

Recession, Hyperinflation, and Stagflation: Crash Course Econ #13

Yellen resigns as Fed chair

Who Is Janet Yellen? In Two and a Half Minutes

BREAKING NEWS]Yellen, denied second term as fed chair, announces resignation

[BREAKING NEWS]Yellen, denied second term as fed chair, announces resignation Federal Reserve chief Janet Yellen said Monday she will leave the central bank once her term as chair ends in February, wrapping up a pivotal tenure in which the Fed began to reverse its extraordinary, decadelong…

Fed expected to wind down $4.2 trillion balance sheet

How the Constitution Has Been Twisted to Undermine the Free Market | Judge Andrew P. Napolitano

The Most Persistent Economic Fallacy of All Time!

Mark Thornton: Can the Fed Unwind?

Fake Economic News | Walter Block

Who Bears the Burden of Government Debt? | Robert P. Murphy

Milton Friedman: Why soaking the rich won’t work.

Milton Friedman proves why welfare can’t work

Milton Friedman: The Rise of Socialism is Absurd

The Great Unwind: What Happens to the Markets When the Economy Stumbles Again

Published on Jul 21, 2015

Stock market returns and economic forecasts are being distorted by a few big myths that are likely to be proven wrong in the near future. It is widely believed that the American economy has fully recovered and has reached escape velocity where it will be able to sustain momentum without stimulus. This belief has led the majority of forecasters to conclude that the Federal Reserve will begin raising rates this year and will continue hiking through the end of 2016. At the same time they believe that foreign central banks will fight slowing growth abroad with unlimited U.S. style quantitative easing, thereby pushing the U.S. dollar to new heights, and gold and oil to new lows. Their conclusion: U.S. stock markets will continue to lead the world. But what if these assumptions are dead wrong? What if the signs of growth were really just the direct result of Fed stimulus, which will disappear if the Fed raises rates? Recent economic data has been so dismal that savvy economists are drawing parallels with 2008, the year of the last crash. What if it’s not just the weather? If the Fed shocks the markets by keeping rates at zero for far longer than expected, the markets will unwind trades based on these false assumptions. This is where Peter Schiff and Euro Pacific Capital have ideas that you need to hear. Peter Schiff is a world renown investor and author who has made his reputation by seeing things that few other analysts can. He sees huge problems ahead for the U.S. economy and potentially a reversal of the U.S. dollar rally of the past year. He will discuss the inability for the Fed to dispose of its gargantuan $4 trillion balance sheet without sparking a financial collapse. He will also discuss opportunities in foreign, non-dollar, and precious metals investing. Ignore his advice at your own peril.

How Will the Fed Reduce Its Balance Sheet?

Whiteboard Economics: The Fed’s Balance Sheet Unwind

Rothbard on Mises & Friedman at Mont Pèlerin

Ayn Rand meets Ludwig von Mises – Milton Friedman

Rothbard on Ayn Rand

Milton Friedman on Money / Monetary Policy (Federal Reserve) Part 1

Milton Friedman on Money / Monetary Policy (Federal Reserve) Part 2

Milton Friedman – Monetary Revolutions

Milton Friedman – Is tax reform possible?

Milton Friedman – The role of government in a free society

 

Fed officials fear financial market ‘imbalances’ and possibility of ‘sharp reversal’ in prices

  • Minutes from the Oct. 31-Nov. 1 Federal Open Market Committee meeting indicate some worry about rising financial markets.
  • The meeting minutes also included a discussion about possibly changing the central bank’s approach to addressing inflation.

Janet Yellen, chair of the U.S. Federal Reserve.

Fed: Rate increase likely warrented soon

Federal Reserve officials expressed largely optimistic views of economic growth at their most recent meeting but also started to worry that financial market prices are getting out of hand and posing a danger to the economy.

Minutes from the Oct. 31-Nov. 1 Federal Open Market Committee meeting indicate members with almost universally positive views on growth — the labor market, consumer spending and manufacturing all were showing solid gains. While there were disagreements on the pace of inflation, and even a discussion about changing the Fed’s approach to price stability, the sentiment otherwise was largely positive.

Moreover, they said the picture could get even better if Congress lowers corporate taxes as part of the reform plan making its way through the Senate.

“In their discussion of the economic situation and the outlook, meeting participants agreed that information received since the FOMC met in September indicated that the labor market had continued to strengthen and that economic activity had been rising at a solid rate despite hurricane-related disruptions,” the minutes stated.

However, when it came to evaluating market conditions, the talk took a more cautious tone.

Stocks have been on a tear throughout 2017, setting a series of record highs and adding trillions in value. That’s come both on the heels of stronger corporate earnings and hopes that the tax reform plan, which would take the corporate rate from 35 percent to 20 percent, becomes a reality.

Some members feared what would happen if the market suddenly took a hit.

“In light of elevated asset valuations and low financial market volatility, several participants expressed concerns about a potential buildup of financial imbalances,” the minutes said. “They worried that a sharp reversal in asset prices could have damaging effects on the economy.”

Concerns about the surge in stocks are not new at the Fed, but most officials have downplayed the idea that the market is in a bubble. Wall Street also has been at odds about the market, with Bank of America Merrill Lynch warning of a market top coming in 2018 though Goldman Sachs has predicted another big year.

Some members said the bull market was justified by a continued low “neutral” rate of interest that is neither overly restrictive nor accommodative to growth.

And there also was mention of “regulatory changes” that had helped “an appreciable strengthening of capital and liquidity positions in the financial sector over recent years,” which made the system less prone to shocks or sudden market drops.

President Donald Trump has taken a three-pronged approach to economic growth and frequently boasts of the stock market gains. In addition to tax reform, he has cut business regulations and is expected in the coming months to unveil a plan to boost infrastructure spending.

During the year, economic growth has increased, with GDP gaining 3.1 percent and 3 percent the past two quarters and on track to be around the same level in the fourth quarter.

FOMC members noted multiple areas of positive developments. The labor market is “operating at or above full employment,” GDP is likely to “grow at a pace exceeding that of potential output,” and even inflation has been slowed only by “temporary or idiosyncratic factors.”

But on inflation, the consensus was weaker, with some members disagreeing with the notion that all the softness was due to issues that would fade.

Other members, though, thought the Fed could be in danger of waiting too long for inflation to rise and could risk further instability in the financial markets. Several members said the upcoming data would be critical in determining whether they felt the Fed was close to meeting its 2 percent inflation goal.

A “couple” members even suggested the Fed tweak its approach to inflation, moving away from the 2 percent goal and toward a more nebulous “gradually rising path” in prices instead.

As a matter of policy, the committee chose not to hike rates at the meeting, as expected, but members indicated that gradual rate hikes are likely in the future. Markets are assigning a nearly 100 percent probability to a December rate hike, though only factoring in one or two so far for 2018.

Also at the meeting, members discussed the well-publicized reduction of the Fed’s $4.5 trillion balance sheet. Under the plan, the central bank is letting a capped level of proceeds from the bonds it owns run off each month. Fed officials agreed the program thus far has run smoothly.

https://www.cnbc.com/2017/11/22/fomc-minutes–fed-officials-fear-market-imbalances-possible-effects-of-sharp-reversal-in-prices.html

It’s begun: Fed’s unwinding of its epic balance sheet officially showing up in the data

  • Thursday’s Federal Reserve report on its portfolio holdings shows a near $6 billion decline in its holdings of Treasury securities.
  • That’s the biggest outright weekly decline since 2012.

Federal Reserve Board Chairwoman Janet Yellen testifies before the Joint Economic Committee on Capitol Hill November 17, 2016 in Washington, DC.

Win McNamee | Getty Images
Federal Reserve Board Chairwoman Janet Yellen testifies before the Joint Economic Committee on Capitol Hill November 17, 2016 in Washington, DC.

The Fed’s campaign to reduce its $4.4 trillion balance sheet is now taking effect and showing up in the data.

Thursday’s Federal Reserve report on its portfolio holdings shows a near $6 billion decline in its holdings of Treasury securities. It’s the biggest outright weekly decline since 2012.

It’s just the leading edge of more to come as the Fed gradually ramps up its effort to “normalize” its balance sheet. The Fed hasn’t explicitly said what level it’s aiming for, only that it will ramp up its sales of Treasurys and mortgage-backed securities to a point where it eventually is reducing them at a clip of $50 billion a month.

The decline in mortgage-backed securities, which is already taking place, should begin showing up in the data next month.

https://www.cnbc.com/2017/11/03/its-begun-feds-unwinding-of-its-epic-balance-sheet-officially-showing-up-in-the-data.html

 

Story 2: Will President Trump Be The Next President Hoover? — Videos

Reagan Budget Director Stockman Thrashes GOP Tax Bill as ‘Ideological Imposter’ of ‘81 Bill

The Deep State and the Donald | David Stockman

The Curse of Economic Nationalism | Thomas J. DiLorenzo

Steve Banon “Economic Nationalism Is What Binds Us Together!”

Steve Bannon: What Built America Was Economic Nationalism (60 Minutes Interview)

Myth-Busters: The Truth About Hoover & FDR

Milton Friedman on the Great Depression, Bank Runs & the Federal Reserve

Milton Friedman Explains the Cause of the Great Depression

Did FDR End the Great Depression?

The Legacy of the Smoot-Hawley Tariff Act

The Hawley-Smoot Tariff in Under 5 Minutes – Hasty History

The Smoot Hawley Tariff Act

Hoover and the Great Depression

Hoover and Roosevelt

The 1928 Election Explained

Coolidge: The Best President You Don’t Know

Rothbard on the ‘best’ US president

The Current State of World Affairs | Murray N. Rothbard

Murray Rothbard Where Did The Free Markets Go?

Murray N. Rothbard on Milton Friedman pre1971

Murray Rothbard: The Truth About Taxes

What I Learned from Murray Rothbard | Thomas E. Woods, Jr.

Bank of America sees end of bull market coming in 2018: Here’s how it will happen

  • Bank of America Merrill Lynch predicts “capitulation” for the bull market in 2018, with the S&P 500 peaking at 2,863.
  • Strategist Michael Hartnett said the firm is prepared to “downgrade risk aggressively” once it sees the triggers in place.
  • A shift from passive to active in investor allocations would be one of the signs that the rally is about over.

A pedestrian passes in front of a statue of a bull in the Wall Street area in New York City.

Doug Kantor | AFP | Getty Images

A pedestrian passes in front of a statue of a bull in the Wall Street area in New York City.

Bank of America Merrill Lynch sees a scary good news-bad news scenario unfolding in 2018: A solid push higher in the first half followed by all sorts of potential trouble after.

The S&P 500 would peak out around 2,863 in the scenario, or about 11 percent higher than Monday’s close. Bond yields are expected to rise, with the benchmark 10-year Treasury note hitting 2.75 percent as global GDP growth reaches 3.8 percent.

That setting assumes three things: the “last vestiges” of stimulus from the Fed and other central banks, the passage of tax reform in Congress, and “full investor capitulation into risk assets” on better-than-expected corporate earnings.

After that, though, things get considerably sketchier as the second-longest bull market in history runs into trouble.

Real battle for leadership in this market: State Street's Michael Arone

Real battle for leadership in this market: State Street’s Michael Arone  

“We believe the air in risk assets is getting thinner and thinner, but the Big Top in price is still ahead of us,” Michael Hartnett, chief investment strategist at BofAML, said in a report for clients. “We will downgrade risk aggressively once we see excess positioning, profits and policy.”

Indicators that market positioning has gotten out of hand and signaling a fall would include active funds attracting more money than passive (there’s a $476 billion gap this year in favor of passive), and portfolio allocation for equities exceeding 63 percent, a level currently at 61 percent.

Hartnett pointed out that the current bull will be the longest in history if it continues to Aug. 22, 2018, while the outperformance of stocks versus bonds, at seven years running, would be the longest streak since 1929.

The forecast is predicated on three core beliefs: The first is the aforementioned capitulation; the second an expectation of “peak positioning, profits and policy” that “will engender peak asset price returns” and a low in volatility; and, finally, an expectation that higher inflation and corporate debt along with tighter monetary policy will roil the corporate bond market, a critical prong of the risk asset rally.

“The game changer is wage inflation, which on our forecasts is likely to become more visible,” said Hartnett, who projects that salaries could rise 3.5 percent and push the consumer price index up 2.5 percent and convince the Fed that it’s close to meeting its 2 percent inflation goal.

However, that cuts both ways: Should wage inflation again fail to materialize, Hartnett said “the era of excess liquidity” continues, bond yields would fall and the Nasdaq tech barometer would go “exponential.” That would signal a bubble that might not end until 2019, when a bear market would be triggered by “hostile Fed hiking, Occupy Silicon Valley and War on Inequality politics.”

“Big Top” trades favor technology, homebuilders, Japanese banks and the dollar against the Swiss franc.

BofAML’s forecast comes as Goldman Sachs released a price target of 2,850 for the S&P 500, after a comparatively bearish 2016 call for 2,400 that was passed six months ago.

https://www.cnbc.com/2017/11/21/bank-of-america-bull-market-ending-in-2018-how-it-will-happen.html

Will Donald Trump be Herbert Hoover all over again?


President-elect Donald Trump. (Mike Segar/Reuters)
 Opinion writer November 11, 2016

As a Donald Trump victory became clear Tuesday night, the ghost of Herbert Hoover paid a visit to Trump’s election night party in New York.

In the Fox News coverage playing on screens in the ballroom, Megyn Kelly turned to Karl Rove. “It didn’t happen under Reagan or the Bushes. When was the last time a Republican president had a Republican Congress?”

“1928,” Rove answered.

“Incredible,” Kelly said.

Yes, quite: Republicans actually had unified control for four years under George W. Bush, and for two years under Dwight Eisenhower, as Rove amended when I followed up with him.

Expecting a celebration, The Washington Post’s Dana Milbank wrote a letter to his daughter to help her cope with Hillary Clinton’s electoral loss.

But the 1928 comparison is instructive. It’s the last time a Republican president enjoyed anything like the majority Trump will have, particularly in the House.

And how did that work out for them?

Hoover took over in a time of general prosperity but stagnant wages and vast income inequality. Populists in Congress proposed dramatic increases in tariffs to help the struggling agricultural sector, the equivalent of today’s beleaguered blue-collar workers.

The proposal divided Republicans in Congress and Hoover before they produced the 1930 Smoot-Hawley Tariff Act, setting off retaliation, freezing international trade, contributing to the Great Depression and accelerating a ruinous cycle of nationalism around the world.

Hoover’s ghost should haunt the GOP right now. A populist, protectionist president has come to power at a time of long-depressed wages and vast inequality. He threatens to implement tariffs of 45 percent against China and 35 percent against Mexico, and he’s about to collide with free-traders and pro-business interests in his own party.

If they jettison Trump’s agenda and proceed with business as usual, they risk inflaming Trump’s already-furious followers. If they do what Trump has promised, there will be chaos as they pursue what amounts to a mission impossible: enacting a huge tax cut, making enormous spending increases on infrastructure and the military and cutting the debt in half — all without touching Social Security and Medicare.

And they’ll be without a mutual foil to unite them. President Obama will be out of office, Hillary Clinton defeated, Harry Reid retired. With unified control, Republicans now own every issue — health care, the economy, national security — and Democrats, who narrowly won the popular vote and are supported by exit polls showing tepid support for many of Trump’s policy priorities, have little incentive to cooperate.

 Some early signs show Trump won’t hesitate to disappoint supporters, including his statement Friday that, after talking with Obama, he no longer favors repealing all of Obamacare.

Drain the swamp? Trump has packed his transition team with a who’s who of the K Street lobbying trade, according to Politico. Among those in charge of staffing the new administration are people who have lobbied for or represented Altria, Visa, Anthem, Coca-Cola, General Electric, HSBC, Pfizer, PhRMA, United Airlines, Southern Company, Dow Chemical, Rosemont Copper Company, Boeing, Duke Energy and Nucor.

My colleague Catherine Ho reports that Trump’s win “is likely to be a boon to the lobbying business,” as businesses try to counteract the uncertainty with more lobbyists.

The Trump-proposed ban on Muslims entering the country? As The Post’s Jose A. DelReal reported, the Trump campaign removed that policy’s web page Thursday, then restored it after the reporter’s inquiries.

That wall on the Mexican border? “Going to take a while,” Trump lieutenant Rudy Giuliani said Thursday, suggesting “he can do it by executive order by just reprogramming money within the immigration service.”

“Reprogramming” money away from . . . deportation? Truly building the wall would cost hundreds of billions of dollars and require approval from Congress.

The “lock her up” crowd may also be disappointed. Chris Christie said “politics are over now.”

On that same question, however, Giuliani said prosecuting Clinton would be “a presidential decision” — an extraordinary departure from the American tradition of removing the president from prosecutorial decisions, particularly since President Nixon tried to block the Justice Department’s Watergate probe in 1973.

The Trump transition sounded another Nixonian note when Trump surrogate Omarosa Manigault told a conservative website that Trump is keeping an enemies list.

The conflicting signals suggest Trump himself hasn’t settled on his course. His gracious victory speech was about reaching out to the opposition, but Breitbart News, whose once and future leader ran the campaign, has been whipping up racial fears (“Shock Video Shows White Man Viciously Beaten in Chicago After Election”).

On Thursday night, the president-elect tweeted that “professional protesters, incited by the media, are protesting. Very unfair!” Friday morning he reconsidered: “Love the fact that the small groups of protesters last night have passion for our great country. We will all come together and be proud!”

Trump’s internal tension is understandable. He can leave supporters disillusioned, or he can keep his promises — and send us all back to 1928.

https://www.washingtonpost.com/opinions/will-donald-trump-be-herbert-hoover-all-over-again/2016/11/11/8e533600-a820-11e6-8042-f4d111c862d1_story.html?utm_term=.15c6a091b1f6

Jamie Dimon says he would bet on Trump being a one-term president

  • The JPMorgan CEO said he’d bet on Trump being a one-term president.
  • That said, he thinks a “pro-free enterprise” agenda for jobs and economic growth.
  • Dimon has described himself as “barely” a Democrat, but has been more active on range of business and economic issues.

Jamie Dimon speaking at the 2017 Delivering Alpha conference in New York on Sept. 12, 2017.

David A. Grogan | CNBC
Jamie Dimon speaking at the 2017 Delivering Alpha conference in New York on Sept. 12, 2017.

Jamie Dimon, CEO of JPMorgan Chase, on Wednesday said he expects to see a new U.S. president in 2021 and advised Democrats to come up with a “pro-free enterprise” agenda for jobs and economic growth.

Asked at a luncheon hosted by The Economic Club of Chicago how many years President Donald Trump will be in office, Dimon said, “If I had to bet, I’d bet three and half. But the Democrats have to come up with a reasonable candidate … or Trump will win again” and have second four-year term.

Dimon, who in the past has described himself as “barely” a Democrat, has been going to Washington more often since the November 2016 election of Trump to lobby lawmakers on range of business and economic issues, including changes in corporate taxes, immigration policies and mortgage finance.

Jamie Dimon: There's a huge vaccuum if business isn't involved in policy

Jamie Dimon: There’s a huge vacuum if business isn’t involved in policy  

In December, Dimon became chairman of the Business Roundtable, an association of CEOs who take their views to government policy makers.

Dimon, 61, touched briefly on range of topics, from Americas political climate and tax system to discrimination in the workplace and against black people.

He also commented on foreign affairs, saying, for example, “We should never be rude to a neighbor like Mexico.”

He also cautioned that the political weakness of German Chancellor Angela Merkel is bad for all of us. Talks on forming a governing coalition including Merkel’s Christian Democratic Union collapsed earlier this week, casting doubt on her future after 12 years in power.

Dimon is in his 12th year as CEO of JPMorgan, which is the biggest bank in the U.S. by assets

https://www.cnbc.com/2017/11/22/jamie-dimon-says-he-would-bet-on-trump-being-a-one-term-president.html

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The Pronk Pops Show 1004, November 21, 2017, Story 1: The Illegal Alien Family That Is Deported Together Stays Together — Let The “Dreamers” Go Back To Their Country of Origin With Families– Enforce All Immigration Laws — Remove and Deport The 30-60 Million Illegal Aliens Who Invaded The United States in Last 20 Years — No DACA Fix Needed — Trump Will Lose Many of His Supporters If He Gives Amnesty or Citizenship To Dreamers — Video — Story 2: Feral Hog Invasion of America — Hogs Eat Everything — Kill The Hogs — Boar Busters — Videos

Posted on November 21, 2017. Filed under: Addiction, Blogroll, Breaking News, Budgetary Policy, Communications, Countries, Crime, Culture, Donald J. Trump, Donald Trump, Drugs, Economics, Employment, Fiscal Policy, Foreign Policy, Illegal Drugs, Illegal Immigration, Immigration, Legal Drugs, Mexico, Movies, Tax Policy, United States of America | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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Story 1: The Illegal Alien Family That Is Deported Together Stays Together — Let The “Dreamers” Go Back To Their Country of Origin With Families– Enforce All Immigration Laws — Remove and Deport The 30-60 Million Illegal Aliens Who Invaded The United States in Last 20 Years — No DACA Fix Needed — Trump Will Lose Many of His Supporters If He Gives Amnesty or Citizenship or Pathway To Citizenship To Dreamers — Videos —

Milton Friedman – Illegal Immigration only helps when its Illegal

Milton Friedman proves why welfare can’t work

Tucker: Illegal immigration is literally costing US big-time

“U.S. Citizens DON’T Deserve Priority??” Tucker vs Delusional DACA Supporters

“Are You a CITIZEN, Cesar??” Tucker DESTROYS Illegal NY Lawyer

Immigration by the Numbers — Off the Charts

Amnesty Should Not Be Part of Any ‘Deal’ on DACA | The Daily Signal

Why Ending DACA Will Save America: Deport Illegal Immigrants

Build the Wall

 

DACA

Congress barreling toward explosive immigration fight
BY MIKE LILLIS – 11/21/17 06:00 AM EST

 

The fight over “Dreamers” is heating up as the legislative calendar winds down, setting the stage for a year-end clash that’s heightening the odds of a government shutdown.

Lawmakers headed into the long Thanksgiving recess are in stark disagreement over how, and when, to provide legal cover for undocumented immigrants brought to the country as children — legislation both parties say they want after President Trump rescinded the Deferred Action for Childhood Arrivals (DACA) program in September.

Behind Trump, GOP leaders are opposed to attaching any DACA provisions to legislation extending government funding, which expires Dec. 8. But Democratic leaders, pressured by their activist base and the Congressional Hispanic Caucus, are insisting that the DACA protections be finalized before year’s end. Many Democrats are threatening to withhold support for an omnibus spending bill if the immigration language isn’t included.

With just 12 legislative days left on the calendar — and the Republicans laser-focused on enacting a tax overhaul before Christmas — GOP leaders have some tough decisions ahead. And the question of timing on DACA is becoming every bit as sticky as the substance of the bill.

Speaker Paul Ryan (R-Wis.) has repeatedly noted that Trump, in dismantling the Obama-era program, gave Congress until March 5 to come up with a legislative fix. With that in mind, the Speaker has suggested Republicans would be fine addressing the issue early next year.

“I don’t think we should put artificial deadlines in front of the one we already have,” Ryan told reporters this month.

But a number of Republicans, moderates and conservatives alike, want to move more quickly.

Rep. Mario Diaz-Balart (R-Fla.), one of 10 Republicans Ryan appointed to a task force charged with crafting a DACA fix, said the threat to DACA-eligible residents is growing by the day, particularly for those who are falling out of the program without the option to re-enroll.

“There’s a lot of other things I want to do dealing with that subject matter, but the urgency is dealing with these DACA individuals whose lives are about to be just destroyed if we don’t do something soon,” Diaz-Balart said. “That deadline is the legal deadline for when [DACA] expires, but the consequences have started happening already.”

House Homeland Security Committee Chairman Michael McCaul (R-Texas), another member of the Republicans’ DACA task force, said a vote this year “would be the ideal scenario.” And Rep. Pete Sessions (R-Texas), chairman of the House Rules Committee, said he also favors action next month.

“We’ve got to get it done because we said we would,” Session said. “I’ve never been one to wait.”

If the Democrats have any say — and they likely will — Ryan and the Republicans may not have a choice.

Members of the Hispanic Caucus were furious when Democratic leaders cut a temporary budget deal with Trump in September that excluded the DACA protections. They’ve vowed to oppose any year-end spending bill unless it includes that language — or unless GOP leaders find another legislative vehicle to move in December. And House Minority Leader Nancy Pelosi (D-Calif.) has embraced their message unswervingly.

“Kicking the can to next year is just to say ‘We’re not doing this.’ That’s how we see that,” Pelosi said Thursday. “If [Ryan] wants to take it up as a free-standing [bill], or whatever vehicle is leaving the station, we’ll make some judgments as we go along.”

Although they’re the minority in both chambers, the Democrats will have leverage in December’s spending fight, given the Senate filibuster and the historic struggle of House Republicans to find 218 Republican votes to pass budget bills on their own.

Republicans could try to move a DACA fix through the House on a partisan vote, but they’d still need Democratic support in the Senate to avoid the filibuster.

“Anything we’re going to do is going to have to be bipartisan,” Diaz-Balart said.

Kicking DACA to 2018 could complicate passage for another reason: It would force Republicans to vote on a divisive issue in an election year.

“If they think this is going to get easier for them as we get closer to the midterms, they’re fooling themselves,” Rep. Ron Kind (D-Wis.) said.

The contours of a DACA deal seemed to be decided in September, just days after Trump rescinded the program, during a White House meeting between the president, Pelosi and Senate Minority Leader Charles Schumer (D-N.Y.). The three agreed to a package that included legal protection for Dreamers, coupled with new border security measures. The Democrats insisted that the enforcement provisions must not include new border wall funding or heightened interior enforcement. They said Trump agreed to those terms.

But in the wake of that agreement, the White House released a lengthy list of demands for an immigration deal that are mostly non-starters with Democrats.

Ryan’s DACA task force, meanwhile, has yet to produce a proposal. And while McCaul said he’s optimistic the group will unite behind a package, others on the panel aren’t so sure.

“I don’t know if there’s going to be a final product or not, no, coming from that group,” said Diaz-Balart.

Given the membership of the task force — a mix of moderate immigration reformers like Diaz-Balart and conservative hard-liners like Rep. Bob Goodlatte (R-Va.) — Democrats are skeptical the group was ever serious about drafting a DACA fix.

“Frankly, we don’t think the task force was designed to reach a compromise. There are no Democrats on that task force, all Republicans, and, very frankly, an awful lot of Republicans who have no intention of voting for DACA,” Rep. Steny Hoyer (Md.), the Democratic whip, said last week.

“So I don’t think they are really looking for a solution. I think they’re wasting time.”

The delay has encouraged other lawmakers to jump into the fray. Rep. Mark Meadows (R-N.C.), chairman of the far-right Freedom Caucus, said he’s working with moderate Republicans to find a compromise, the details of which he hopes to unveil when Congress returns to Washington.

“We’re getting real close. We should have some real progress to report, hopefully the first week back in December,” Meadows said. “I probably have been approached more on DACA, by some of our more moderate members looking for compromise, in the last 72 hours than I can remember. Based on that, I think there is a deal there to be made in some shape, form or fashion that would potentially even get bipartisan support here in the House.”

Like Ryan, Meadows said attaching a DACA fix to an omnibus spending bill “would be a problem.” And he’s also not feeling any urgency to move long before the March deadline.

“I don’t know of any other impending deadline that would make us have to move sooner than that,” he said.

Rep. Dave Brat (R-Va.), another Freedom Caucus member, outlined a package this month he said would win the support of the conservative group. It couples DACA protections with new efforts to end chain migration, install a mandatory E-Verify program and eliminate diversity visas. In the eyes of liberal Hispanic Caucus members like Rep. Luis Gutiérrez (D-Ill.), however, the proposal is unworkable.

Kind, a member of the New Democrats Coalition that has been meeting with the GOP’s Tuesday Group in search of a compromise, said both sides would ultimately have to give ground.

“There’s got to be some reasonable middle ground here to fix this,” he said.

“We know what the landmines are. It’s just: What’s the path forward?”

http://thehill.com/homenews/house/361266-congress-barreling-toward-explosive-immigration-fight

 

Deferred Action for Childhood Arrivals

From Wikipedia, the free encyclopedia

The Deferred Action for Childhood Arrivals (DACA) was an Americanimmigration policy that allowed some individuals who entered the country as minors, and had either entered or remained in the country illegally, to receive a renewable two-year period of deferred action from deportation and to be eligible for a work permit. As of 2017, approximately 800,000 individuals—referred to as Dreamers after the DREAM Act bill—were enrolled in the program created by DACA. The policy was established by the Obama administration in June 2012 and rescinded by the Trump administration in September 2017.[1]

In November 2014 President Barack Obama announced his intention to expand DACA to cover additional illegal immigrants. But multiple states immediately sued to prevent the expansion, which was ultimately blocked by the courts. The United States Department of Homeland Security rescinded the expansion on June 16, 2017, while continuing to review the existence of the DACA program as a whole. The DACA policy was rescinded by the Trump administration on September 5, 2017, but full implementation of the rescission was delayed six months to give Congress time to decide how to deal with the population that was previously eligible under the policy.[2]

Research shows that DACA increased the wages and labor force participation of DACA-eligible immigrants,[3][4][5] and reduced the number of unauthorized immigrant households living in poverty.[6] Studies have shown that DACA increased the mental health outcomes for DACA-eligible immigrants and their children.[7][8][9] There are no known major adverse impacts from DACA on native-born workers’ employment while most economists say that DACA benefits the U.S. economy.[10][11][12][13] To be eligible for the program, recipients may not have felonies or serious misdemeanors on their records. There is no evidence that DACA-eligible individuals are more likely to commit crimes than any other person within the US.[14]

Background

The policy was created after acknowledgment that DREAMer students had been largely raised in the United States, and was seen as a way to remove immigration enforcement attention from “low priority” individuals with good behavior.[15][16] The illegal immigrant student population was rapidly increasing; approximately 65,000 illegal immigrant students graduate from U.S. high schools on a yearly basis.[17]

The DREAM Act bill, which would have provided a pathway to permanent residency for unauthorized immigrants brought to the United States upon meeting certain qualifications, was considered by Congress in 2007. It failed to overcome a bipartisan filibuster in the Senate.[18] It was considered again in 2011. The bill passed the House, but did not get the 60 votes needed to overcome a Republican filibuster in the Senate.[19][18] In 2013, legislation that would have comprehensively reformed the immigration system, including allowing Dreamers permission to stay in the country, work and attend school, passed the Senate but was not brought up for a vote in the House.[18] The New York Times credits the failure of Congress to pass the DREAM Act bill as the driver behind Obama’s decision to sign DACA.[18]

Establishment

President Barack Obama announced the policy with a speech in the Rose Garden of the White House on June 15, 2012.[20] The date was chosen as the 30th anniversary of Plyler v. Doe, a Supreme Court decision barring public schools from charging illegal immigrant children tuition. The policy was officially established by a memorandum from the Secretary of Homeland Security titled “Exercising Prosecutorial Discretion with Respect to Individuals Who Came to the United States as Children”.[21] The policy allowed certain immigrants to escape deportation and obtain work permits for a period of two years, renewable upon good behavior. To apply, immigrants had to be younger than 31 on June 15, 2012, must have come to the U.S. when they were younger than 16, and must have lived in the U.S. since 2007. In August 2012, the Pew Research Center estimated that up to 1.7 million people might be eligible.[22]

U.S. Citizenship and Immigration Services (USCIS) began accepting applications for the program on August 15, 2012.[22] As of June 2016, USCIS had received 844,931 initial applications for DACA status, of which 741,546 (88%) were approved, 60,269 (7%) were denied, and 43,121 (5%) were pending. Over half of those accepted reside in California and Texas.[23] According to an August 2017 survey, most current registrants (called “Dreamers” in a reference to the DREAM Act bill) are in their 20s, and about 80% arrived in the United States when they were 10 or younger.[24]

In November 2014, Obama announced his intention to expand DACA to make more people eligible.[25][26] However, in December 2014, Texas and 25 other states, all with Republican governors, sued in the U.S. District Court for the Southern District of Texas asking the court to enjoin implementation of both the DACA expansion and Deferred Action for Parents of Americans (a similar program).[27][28][29] In February 2015, Judge Andrew S. Hanen issued a preliminary injunction blocking the expansion from going into effect while the case, Texas v. United States, proceeds.[30][31] After progressing through the court system, an equally divided (4–4) Supreme Court left the injunction in place, without setting any precedent.[32]

Reaction

Republican Party leaders denounced the DACA program as an abuse of executive power.[33]

Nearly all Republicans in the House of Representatives (along with three Democrats) voted 224–201 to defund DACA in June 2013.[34] Lead author of the amendment Rep. Steve King (R-Iowa) stated, “The point here is…the President does not have the authority to waive immigration law, nor does he have the authority to create it out of thin air, and he’s done both with these Morton memos in this respect.”[35] However, in practice Congress does not have the ability to defund DACA since the program is almost entirely funded by its own application fees rather than congressional appropriations.[36]

Although politicians are divided on immigration issues related to DACA, former presidential candidate Mitt Romney stated that he would honor the grants of deferred action approved under DACA until a more permanent legislation was put into place.[37]

Implementation

DACA approved requests by state[a]
California 424,995
Texas 234,350
New York 95,663
Illinois 79,415
Florida 74,321
Arizona 51,503

DACA was formally initiated by a policy memorandum sent from Secretary of Homeland SecurityJanet Napolitano to the heads of U.S. Customs and Border Protection(CBP), U.S. Citizenship and Immigration Services (USCIS), and U.S. Immigration and Customs Enforcement (ICE). The memo formally directed them to exercise their enforcement discretion on behalf of individuals who met the requirements.[39]

To apply for DACA, illegal immigrants must pay a $495 application fee, submit several forms, and produce documents showing they meet the requirements. They do not need legal representation.

Eligibility

To be eligible, illegal immigrants must have entered the United States before their 16th birthday and prior to June 2007, be currently in school, a high school graduate or be honorably discharged from the military, be under the age of 31 as of June 15, 2012, and not have been convicted of a felony, significant misdemeanor or three other misdemeanors, or otherwise pose a threat to national security. The program does not provide lawful status or a path to citizenship,[40] nor does it provide eligibility for federal welfare or student aid.[3]

In August 2012, the Migration Policy Institute estimated that as many as 1.76 million people could be eligible for DACA. Of those, 28% were under 15 and would have to wait until reaching that age to apply. In addition, roughly 20% did not meet any of the education criteria, but could become eligible by enrolling in a program before submitting their application. 74% of the eligible population was born in Mexico or Central America. Smaller proportions came from Caribbean and South America (11%), Asia (9%), and the rest of the world (6%).[41]

To qualify for DACA, applicants must meet the following major requirements, although meeting them does not guarantee approval:[40]

  • Came to the United States before their 16th birthday
  • Have lived continuously in the United States since June 15, 2007
  • Were under age 31 on June 15, 2012 (i.e., born on June 16, 1981 or after)
  • Were physically present in the United States on June 15, 2012, and at the time of making their request for consideration of deferred action with USCIS
  • Had no lawful status on June 15, 2012
  • Have completed high school or a GED, have been honorably discharged from the armed forces, or are enrolled in school
  • Have not been convicted of a felony or serious misdemeanors, or three or more other misdemeanors, and do not otherwise pose a threat to national security or public safety

To show proof of qualification (verify these requirements), applicants must submit three forms; I-821D, Consideration of Deferred Action for Childhood Arrivals; I-765, Application for Employment Authorization; and I-765WS, Worksheet, as well as supporting documentation.[40]

Travel eligibility

In addition to the $495 application fee, if a DACA qualifying illegal immigrant wants to travel abroad there is an additional fee and application requirement.

Form I-131 Application Type D*, with a fee of $575 needs to be submitted to USCIS.[42]

(It should be noted Form I-131 must also be submitted by anyone that applies for a “Green Card” or other residency option regardless of how they arrived upon US soil).

To receive advance parole one must travel abroad for the sole purpose of an educational, employment, or humanitarian purposes. This must be indicated on the Form I-131 as described below:

  • Educational purposes, such as studying abroad;
  • Employment purposes, such as overseas positions, interviews, training, or meetings with clients; or
  • Humanitarian purposes, such as travel for medical reasons, attend funeral services for a family member, or visit a sick relative.

Travel for leisure is not a valid purpose.[42]

Renewals

USCIS released the process for DACA renewals in June 2014 and directed applicants to file their documents during a 30-day window starting 150 days before the expiration of their previous DACA status. Renewing requires an additional $495 fee.[43]

As of June 2016, there had been 606,264 renewal cases, with 526,288 approved, 4,703 denied and 75,205 renewals pending.[23]

Expansion

In November 2014, U.S. President Barack Obama announced changes to DACA which would expand it to include illegal immigrants who entered the country prior to 2010, eliminate the requirement that applicants be younger than 31 years old, and lengthen the renewable deferral period to two years. The Pew Research Center estimated that this would increase the number of eligible people by about 330,000.[26]

However, in December 2014, Texas and 25 other states, all with Republican governors, sued in the District Court for the Southern District of Texas asking the court to enjoin implementation of both the DACA expansion and Deferred Action for Parents of Americans (a similar program).[27][28][29] In February 2015, Judge Andrew S. Hanen issued a preliminary injunction blocking the expansion from going into effect while the case, Texas v. United States, proceeds.[30][31] After progressing through the court system, the appeals court ruled 2–1 in favor of enjoining the DACA expansion. When the Obama administration appealed to the Supreme Court, Justice Antonin Scalia’s untimely death left an 8 justice court, which then ruled equally divided (4–4) for and against the injunction. Procedural rules of the Court in the case of a tie would mean that no opinion would be written, no precedent would be set by the Supreme Court in the case, and that the appellate court’s ruling would stand.[32]

The court’s temporary injunction does not affect the existing DACA. Individuals may continue to come forward and request an initial grant of DACA or renewal of DACA under the guidelines established in 2012.[40]

Impact

Crime

According to FactCheck.org, “there is no evidence that DACA holders are more likely to commit crimes than U.S. citizens.”[13] Factcheck.Org noted that “numerous studies have found that immigrants do not commit crimes at a higher rate than non-immigrants.”[13]

Economy

Fact-checkers note that, on a large scale or in the long run, there is no reason to believe that DACA recipients have a major deleterious effect on American workers’ employment chances; to the contrary, some economists say that DACA benefits the overall U.S. economy.[10][12][11][44][45] Economists have warned that ending DACA could adversely affect the U.S. economy, and that “most economists see immigration generally as an economic boon.”[11][45] Almost all economists reject Jeff Sessions‘ claim that DACA “denied jobs to hundreds of thousands of Americans by allowing those same jobs to go to illegal aliens.”[11] Sessions’ claim is rooted in what economists call the “lump of labor fallacy” (i.e., the idea that there is a limit to amount of work force available in any economy).[10][46]

A 2016 study in the Journal of Public Economics found that DACA increased labor force participation and decreased the unemployment rate for DACA-eligible immigrants. DACA also increased the income of illegal immigrants in the bottom of the income distribution.[3]The study estimates that DACA moved 50,000 to 75,000 unauthorized immigrants into employment.[3] According to University of California, Davis economist Giovanni Peri, DACA consequently “increases consumption and overall demand for U.S. services, products, and jobs where the DACA recipients live and spend. Economists have shown that highly skilled workers increase local productivity and create opportunities for the other workers too”.[47] A 2016 study in Economics Letters found that DACA-eligible households were 38% less likely than non-eligible unauthorized immigrant households to live in poverty.[6] Furthermore, DACA-eligible workers tend to have higher-skilled, higher-paying jobs than undocumented immigrants.[48]

According to Giovanni Peri, ending DACA would bring a net loss in productivity, given that, as of 2017, the U.S. economy is close to full employment.[10][49] Ike Brannon and Logan Albright of the CATO Institute wrote in a 2017 that ending DACA would have an adverse economic and fiscal impact, estimating that the cost of immediately eliminating DACA and deporting those who received deferred action would be $283 billion over a decade (representing an economic loss of $215 billion, a fiscal loss of $60 billion (from lower net tax revenue), and $7.5 billion in deportation costs).[50] Brannon and Albright wrote that their projections were “a conservative estimate due to the fact that many DACA immigrants are young and still acquiring education credentials that will boost wages later.” [50] The Immigrant Legal Resource Center estimated that deporting DACA-eligible individuals would reduce Social Security and Medicare tax revenue by $24.6 billion over a decade.[11] Peri argues that that DACA recipients likely have a significant net positive fiscal impact given that DACA-eligible individuals have similar characteristics as second-generation immigrants, and that research shows that second-generation immigrants have a net positive fiscal impact of $173,000 to $259,000 per immigrant.[47] Peri also notes that the U.S. public school system has already invested in educating these individuals, and they are at the point at which they can start contributing to the U.S. economy and public coffers; deporting them or increasing the likelihood that they be deported is economically counterproductive.[47]A 2017 study by the Center for American Progress estimated that that the loss of all DACA-eligible workers would reduce U.S. GDP by $433 billion over the next 10 years.[51][52]

According to Federal Reserve Bank of Dallas economist Pia Orrenius, due to their risk of deportation, it is likely that previously DACA-protected individuals will slip into the shadow economy or take low-profile jobs that pay less.[45]

Education

The 2016 study in the Journal of Public Economics found that DACA had no significant effects on the likelihood of attending school.[3] The study only found “suggestive evidence that DACA pushed over 25,000 DACA-eligible individuals into obtaining their GED certificate in order to be eligible for DACA.”[3] Research by Roberto G. Gonzales, professor of education at Harvard University, shows that DACA led to increased educational attainment.[53]

Health

A 2017 study published in the journal Science found that DACA led to improved mental health outcomes for the children of DACA-eligible mothers.[7] A 2017 Lancet Public Health study found that DACA-eligible individuals had better mental health outcomes as a result of their DACA-eligibility.[8]

FiveThirtyEight, summarizing the findings of past research, wrote that “the threat of deportation alone would likely have a negative impact on families. Immigration-related stress and anxiety have been shown to have negative health effects… Generally, researchers believe the stress that stems from the fear of having a parent deported has far-reaching, negative effects on the health of children.”[54] In an editorial for the New England Journal of Medicine, Atheendar S. Venkataramani, professor of medicine at the University of Pennsylvania, and Alexander C. Tsai, professor of psychiatry at Harvard Medical School, write “The evidence clearly indicates that rescinding DACA will have profound adverse population-level effects on mental health… DACA was never intended to be a public health program, but its population-level consequences for mental health have been significant and rival those of any large-scale health or social policies in recent history. Rescinding DACA therefore represents a threat to public mental health.”[55]

21 percent of DACA-protected immigrants work in education and health services.[45] The American Medical Association has estimated that under DACA or similar legislation, 5,400 additional physicians would work in the United States in coming decades, alleviating a projected shortage of primary care physicians.[45]

Migration flows

A 2016 study published in the journal International Migration found that DACA did not significantly impact the number of apprehensions of unaccompanied minors from Central America.[56] A 2015 Government Accountability Office (GAO) report assessing the reasons behind the surge in unaccompanied minors from Central America did not mention DACA, and cited crime and lack of economic opportunity as the main reasons behind the surge.[12]

Legal challenges

The legality of DACA and its proposed expansions were challenged in court. But only the expansions were halted under a preliminary injunction. Legal experts are divided as to the constitutionality of DACA, but no court has yet to rule it unconstitutional.[57].

One of challenges against DACA was filed in August 2012 by ten agents from the U.S. Immigration and Customs Enforcement (ICE).[58] The plaintiffs claimed that following the new lenient deportation policies established by DACA required them to violate the law. Almost a year later, Judge Reed O’Connor from the U.S. District Court for the Northern District of Texas dismissed the lawsuit, ruling that the court lacked jurisdiction to decide on what essentially was a dispute between federal employees and their employer, the U.S. government.[59] Nonetheless, in his decision to dismiss the case, the judge reiterated his view that DACA was inherently unlawful.[59] The plaintiffs then filed an appeal but the U.S. Court of Appeals for the Fifth Circuit upheld the dismissal on procedural grounds.

The first challenge against the DACA expansions was filed by Sheriff Joe Arpaio of Maricopa County, Arizona, in November 2014. In the lawsuit, Arpaio claimed that DACA and its expansions were “unconstitutional, arbitrary and capricious, and invalid under the Administrative Procedure Act as, in effect, regulations that have been promulgated without the requisite opportunity for public notice and comment.”[60] The U.S. District Court for the District of Columbia promptly dismissed the lawsuit ruling that Arpaio did not have standing. That decision was upheld unanimously by the U.S. Court of Appeals for the District of Columbia Circuit on August 14, 2015. Arpaio then asked the U.S. Supreme Court to review the case, but on January 19, 2016, the court denied that request.[61]

The challenge that was granted a preliminary injunction was filed on December 2014 by Texas and 25 other states—all with Republican governors. The group of states sued to enjoin the implementation of the Deferred Action for Parents of Americans (DAPA)—another immigration policy—and the DACA expansions announced by the Obama administration.[62][63][64] In the lawsuit, the states claimed that, by expanding DACA, the president failed to enforce the nation’s immigration laws in contravention to Article Two of the U.S. Constitution.[65][b] Moreover, the states claimed that the president unilaterally rewrote the law through his actions.[66] As part of the judicial process, in February 2015, Judge Andrew S. Hanen issued a preliminary injunction blocking the expansion from going into effect while the case, Texas v. United States, proceeded.[30][31] After progressing through the court system, an equally divided (4–4) Supreme Court left the injunction in place, without setting any precedent.[32] The court’s temporary injunction did not affect the existing DACA. At the time, individuals were allowed to continue to come forward and request an initial grant of DACA or renewal of DACA under the guidelines established in 2012.[40]

Regardless of the outcome of the preliminary injunction, legal opinions on the lawfulness of DACA are divided. In United States v. Texas, for instance, the Obama administration argued that the policy was a lawful exercise of the enforcement discretion that Congress delegated to the executive branch in the Immigration and Nationality Act, which charges the executive with the administration and enforcement of the country’s immigration laws.[67] Conversely, Jay Sekulow, Chief Counsel of the American Center for Law and Justice, opined that DACA was unlawful by asserting that it unconstitutionally usurped Congress’ role over immigration by illegally allowing certain classes of illegal aliens to violate U.S. immigration law with impunity.[68]

State and city responses

State-level government officials are also divided on the issue. Those that support DACA claim that the government does not have the resources to target all undocumented immigrants and that the policy thus helps federal agencies in exerting prosecutorial discretion—that is, in enforcing the law selectively by focusing limited resources on criminal immigrants rather than on non-criminal ones such as those eligible for DACA.[69][70] Those that oppose the policy, however, claim that states would be forced to spend hundreds of millions of dollars on health care, education, law enforcement, and other public benefits associated with the immigrants receiving relief.[65] For instance, DACA opponents claim that Texas could assume up to $500 million in administrative costs for issuing new driver’s licenses.[65]

Arizona

Arizona became the first state to oppose President Obama’s order for DACA when Governor Jan Brewer issued an order blocking those with deferred status from receiving any state benefits.[71] This caused controversy,[72] as eligible and approved applicants would still be unable to obtain a driver’s license.[73] In May 2013, a federal district court held that this policy was likely unconstitutional. In 2014, the U.S. Court of Appeals for the Ninth Circuit issued a preliminary injunction against Brewer’s ban, and in November 2014 held this ban was in violation of the law.[74]

California

To assist those eligible under the program,[75] the state of California has agreed to support those who receive a DACA grant by allowing access to a state driver’s license,[76] provided that such individuals participate in specific state guidelines (such as paying income taxes). The state of California also allows DACA holding individuals to qualify for Medi-Cal.[77]

Illinois

Mayor of ChicagoRahm Emanuel has stated that he wants to make Chicago the “most immigrant-friendly city in the country”.[78] In addition to offering in-state tuition for illegal immigrants, he has also made plans for a city ordinance that would prevent illegal immigrants with no criminal background from being turned over to immigration enforcement agencies.[78]

Iowa

In 2012, the then-director of the Iowa Department of Transportation, Paul Trombino III (now nominee for Administrator of the Federal Highway Administration), announced a policy to deny driver licenses to Iowa residents who were part of the DACA program. The policy was reversed several weeks later.[79][80]

Maryland

In 2016, mayor of BaltimoreStephanie Rawlings-Blake stated that Baltimore police would not check the citizenship status of people with whom they interact.[81]

Maryland residents are eligible for in-state public tuition rates regardless of immigration status under certain conditions. A Maryland resident is eligible if they attended Maryland high schools for at least three of the previous twelve years and they graduated from a Maryland high school or received a Maryland GED within the previous ten years. They must have registered at a Maryland public college within four years of high school graduation or receiving a Maryland GED. They must have registered for Selective Service if male, and they must have filed Maryland income tax returns.[82]

Michigan

In October 2012, the Michigan Secretary of State, Ruth Johnson, announced that Michigan will not issue drivers licenses or state identification of any kind to beneficiaries of Deferred Action for Childhood Arrivals.[83] In making this decision, it was clear that the Secretary of State erroneously conflated the notion of “lawful presence,” which is required under Michigan Law to issue a driver’s license, and “lawful status,” a different legal concept entirely.[84] USCIS has made it clear that DACA beneficiaries do not possess legal status, but does not state that DACA beneficiaries are unlawfully present; in fact, it states that DACA beneficiaries will not accrue unlawful presence time here while they are in this deferred action status.[85] The Secretary of State relied upon USCIS’ own explanation, which discusses legal status, not lawful presence.[85] In response to this policy, the ACLU filed a lawsuit against Johnson, alleging that the policy violated both Michigan law and the U.S. Constitution.[86] On January 18, 2013, USCIS updated their “Frequently Asked Questions” page about DACA, clarifying, among other things, that DACA beneficiaries are, in fact, lawfully present in the United States.[87] On February 1, 2013, Johnson reversed her policy and began issuing driver’s licenses to DACA beneficiaries on February 19, 2013.[88]

Nebraska

Governor Dave Heineman opposed DACA and in 2012 directed the Nebraska Department of Motor Vehicles to not issue driver’s licenses to people who received deferred action under DACA. Heineman ” argued that it violated state law to provide benefits to illegal immigrants.”[89] In 2015, however, the unicameral Nebraska Legislature voted to change state law to allow qualified DACA recipients to receive licenses. Governor Pete Ricketts vetoed the bill, but the legislature voted 34-10 to override the veto. Nebraska was the last of the 50 states to allow deferred-action recipients to obtain licenses.[89]

North Carolina

North Carolina briefly suspended giving out driver’s licenses to DACA grantees while waiting for the state attorney general’s opinion. The attorney general decided that even without formal immigration status the DACA grantees were to be granted legal presence. After that, the state once again continued to give out drivers licenses and allowed the DACA grantees to become legal members of North Carolina.[90]

Texas

Although in-state tuition is still offered, Governor Rick Perry announced his opposition to DACA by distributing a letter to all state agencies, meant “to ensure that all Texas agencies understand that Secretary Napolitano’s guidelines confer absolutely no legal status whatsoever to any illegal immigrant who qualifies for the federal ‘deferred action’ designation.”[91]

Virginia

In April 2014, Virginia Attorney GeneralMark Herring sent a letter to the director of the State Council of Higher Education for Virginia (SCHEV), the presidents of Virginia public colleges and universities, and the chancellor of the Virginia Community College System, in response to inquiries from public institutions of higher education on whether DACA students are eligible for in-state tuition. The attorney general advised these institutions that under Virginia law, DACA students who meet Virginia’s domicile requirements are eligible for in-state tuition.[92][93]

Rescission

While running for president, Donald Trump said that he intended to repeal DACA on “day one” of his presidency.[94]

On February 14, 2017, a CNN report on the detention of 23-year-old Daniel Ramirez Medina in Northwest Detention Center,[95]Tacoma, Washington following his arrest in his father’s Des Moines, Washington home, observed that “The case raises questions about what it could mean” for the 750,000 Dreamers, who had “received permission to stay under DACA.”[95][96] On March 7, 22-year-old Daniela Vargas of Jackson, Mississippi, another DACA recipient was detained by ICE, further raising speculation about President Trump’s commitment to Dreamers and questioning whether immigrants who speak out against the administration’s policies should fear retaliation.[97] Vargas was released from LaSalle Detention Center on March 10, 2017,[98] and Ramirez Medina’s release followed on March 29.[99]

On June 16, 2017, the United States Department of Homeland Security announced that it intended to repeal the executive order by the Barack Obama administration that expanded the DACA program, though the DACA program’s overall existence would continue to be reviewed.[100]

On September 5, 2017, Attorney General Jeff Sessions announced that the program is being repealed. Sessions said that the DACA-eligible individuals were lawbreakers who adversely impacted the wages and employment of native-born Americans.[101] Sessions also attributed DACA as a leading cause behind the surge in unaccompanied minors coming to the United States from Central America.[101] Trump said that “virtually all” “top legal experts” believed that DACA was unconstitutional.[101] Fact-checkers have said that only a few economists believe that DACA adversely affects native-born workers, that there is scant evidence that DACA caused the surge in unaccompanied minors, and that it is false that all “top legal experts” believe DACA to be unconstitutional.[12][13]

Sessions added that implementation would be suspended for six months; DACA status and Employment Authorization Documents (“EAD”) that expire during the next six months would continue to be renewed. DACA recipients with a work permit set to expire on or before March 5, 2018 would have the opportunity to apply for a two-year renewal if their application was received by USCIS by October 5, 2017.[102] In a follow-up statement, Trump said “It is now time for Congress to act!”[2] The approximately 800,000 immigrants who qualified enrolled in DACA will become eligible for deportation by the end of those six months.[101] A White House memo said that DACA recipients should “use the time remaining on their work authorizations to prepare for and arrange their departure from the United States.”[103]

Reaction

Protesters outside Trump Tower in New York City, September 5, 2017

Protesters in San Francisco, September 5, 2017

According to the New York Times, “Democrats and some Republicans, business executives, college presidents and immigration activists condemned the repeal as a coldhearted and shortsighted effort that was unfair to the young immigrants and could harm the economy.”[101] President Obama condemned the repeal as “cruel” and wrote:[104]

They were brought to this country by their parents, sometimes even as infants. They may not know a country besides ours. They may not even know a language besides English. They often have no idea they’re undocumented until they apply for a job, or college, or a driver’s license… Whatever concerns or complaints Americans may have about immigration in general, we shouldn’t threaten the future of this group of young people who are here through no fault of their own, who pose no threat, who are not taking away anything from the rest of us… Kicking them out won’t lower the unemployment rate, or lighten anyone’s taxes, or raise anybody’s wages.

The reaction was mixed among Republicans.[105] Several senior Republicans praised Trump’s action, such as House Speaker Paul Ryan, Senate Majority Leader Mitch McConnell and Senator Ron Johnson, chairman of the Homeland Security and Governmental Affairs Committee.[106]

Organizations such as the American Civil Liberties UnionAnti-Defamation League, and U.S. Chamber of Commerce condemned the repeal.[107] A number of religious organizations condemned the repeal, with the U.S. Conference of Catholic Bishops describing it as “reprehensible”. The Catholic University of Notre Dame also urged the president to not resciend DACA and announced it would stand by those affected.[108]The United Methodist Church said it was “not only unconscionable, but contrary to moral work and witness,” and the Evangelical Lutheran Church called on its members to “pray today for those that will suffer undue repercussions due to the end of this program.”[109]Asked about Trump’s decision to rescind DACA, Pope Francis said that if Trump is truly “pro-life”, he “he will understand that the family is the cradle of life and that it must be defended as a unit.”[110]Ralph Reed, chairman of the Faith and Freedom Coalition, endorsed Trump’s repeal.[109]

The September 2017 announcement sparked protests in many cities including Washington, D.C.Chicago, and Los Angeles. At a September 5 protest in New York outside of Trump Tower, more than 30 protesters were arrested.[111] On September 19, more protesters were arrested outside Trump Tower, including Democratic congressmen Raúl Grijalva of Arizona, Luis Gutiérrez of Illinois, and Adriano Espaillat of New York.[112]

Legal challenges

The rescission was challenged in court by different entities. On September 6, 2017, for instance, fifteen states and the District of Columbia filed a lawsuit, titled New York v. Trump, in the United States District Court for the Eastern District of New York seeking to stop the repeal.[113] A few days later, the California attorney generalXavier Becerra, filed a separate lawsuit, which was joined by the states of Maine, Minnesota, and Maryland. Becerra stated that that, as a quarter of the people in the DACA program live in California, he thinks that “everyone recognizes the scope and breadth of the Trump decision to terminate DACA hits hardest here.”[114]

Proposed Responses to the DACA repeal

DREAM Act

Proposed by Sens. Graham and Durbin, the DREAM Act offers protections to illegal immigrants similar to DACA, as well as offering a path to citizenship.[115]

Recognizing America’s Children Act

Proposed by Rep. Curbelo, RAC offers a pathway to legalization through education, military service, or work authorization. After 10 years in this program, immigrants could apply for citizenship.[116]

The American Hope Act

Proposed by Rep. Gutierrez, this act offers an expedited path to citizenship that is attainable in eight years, but the immigrant must have entered the US before the age of eighteen.[117]

BRIDGE Act

Proposed by Rep. Coffman, this bill extends the DACA program by three years, allowing more time to discuss comprehensive immigration reform.[118]

See also

Notes

  1. Jump up^ As of March 31, 2017.[38]
  2. Jump up^ Texas v. United States (2016) “The Court has federal question jurisdiction under 28 U.S.C. § 1331 because this action arises under the U.S. Constitution, art. II, § 3, cl. 5 [.]”[66]

References

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

Feral hogs (Sus scrofa) are an old world species belonging to the family Suidae, and in Texas include European wild hogsferal hogs, and European-feralcrossbreeds. Feral hogs are domestic hogs that either escaped or were released for hunting purposes.

Trap size should be matched to feral hog soundersize. A sounder is a herd of feral hogs primarily comprised of one or more adult sows and one or multiple generations of offspring. A sounder is the primary social unit among feral hogs.Jan 1, 2015

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With ‘Hog Apocalypse’ on hold, what do we do about the pesky wild pigs taking over Texas?

Mike Brewer has tried all kinds of corn bait to lure feral hogs into a $1,000 trap at his Sunnyvale pecan orchard. He even mixed the corn with strawberry gelatin because the pigs love strawberries.

Nothing.

The hogs dig around the trees and trample the earth. They eat his pecan harvest off the ground. It costs Brewer and his wife, Kathy, weeks and weeks of labor to patch up the soil around the trees.

“It’s a constant battle,” Brewer said this month.

<br>

Wild pigs may not look like much, but they’re among the most intelligent animals in the United States, which makes them formidable adversaries. And they’ve taken over Texas and have been documented in every county, according to Texas Parks and Wildlife.

“If you’re not already dealing with pigs, you’re going to,” said Brett Johnson, an urban biologist for the city of Dallas.

The pigs cost Texans about $52 million in agricultural damage every year.

Even if you’re not a farmer, here’s why you should be concerned: Feral hogs tear up lawns, parks and golf courses; they skulk around highways and train tracks; and they poop in our water supply. Estimates peg the number of wild pigs in the U.S. at 4 million or more—  and somewhere between 2 million to 3 million are in our state.

Sure, Texas is a gun-friendly state, but don’t assume that getting rid of wild pigs is as easy as shooting or poisoning them. Population control is far more complicated than the state agriculture commissioner’s stalled plans for a “Hog Apocalypse.”

Here’s what Texas wildlife experts say about feral hog management, including speakers at a recent conference hosted by the North Texas Municipal Water District and other agencies:

What do I need to know about feral hogs?

  • Wild pigs can have two litters a year, typically giving birth to three to eight piglets per litter. Texans would have to remove two-thirds of the feral hog population every year to keep the number of pigs stable. Right now, the state is removing 29 percent of the population.
  • They are mostly nocturnal, seeking cover near water and eating both plants and other animals. About 79 percent of the land mass in Texas is considered suitable environment for wild pigs, which descended from hogs brought in by European settlers in the 1500s.
  • Adult feral hogs don’t have many natural predators and are highly adaptable. Tepid efforts to capture them may result in “trap-smart” pigs. Unprovoked attacks against humans are rare.
  • Some cities have taken up abatement efforts. Earlier this year, Dallas leaders approved a three-year $347,000 contract with a trapping company that corrals pigs on city-owned land and sells them to a meat-processing plant in Fort Worth.

What are my options?

  • Traps: Box traps are usually good for one or two pigs, or small herds of swine, called sounders. The bigger corral traps catch many hogs at once. The automated kind use video to allow you to monitor the trap and its gate from your computer or cellphone but can set you back thousands of dollars in equipment. Check whether your city has any rules against the trapping of wildlife.
  • Fences: Any type of fence can help keep pigs away from your lawn and flower beds in urban and suburban areas. Electric fences are one choice, but some homeowners are reluctant to use them because of children. Some homeowner associations and cities might also prohibit their use, so do your homework.
  • Guns: Texas law requires a hunting license and the landowner’s permission to shoot wild pigs. If you are the landowner or a designated agent, however, you don’t need a hunting license to dispatch a hog causing damage on your property. But who is a “designated agent” is fuzzy, so check with your local game warden. In the end, you may not be able to shoot at all: It’s illegal to discharge a gun in some cities, including Dallas. 
  • Choppers:  Helicopters, that is. Texas law allows landowners to contract with gunners to take out hogs from above. There are rules, of course. The hunter must file paperwork with Texas Parks and Wildlife. Some helicopter operators charge landowners for the service, while others do for it free because they make money by selling seats to hunters. However, this tactic likely won’t be an option for landowners in urban and suburban areas.
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  • Local trappers: You may find leads in Texas hunting magazines and newspaper classifieds, or by asking employees of chambers of commerce, feed stores and swine-holding facilities. A group called Texas Hog Hunters Association keeps an online list of hog trappers. Vet the service provider’s credentials before doing business with the person or group.

What should I avoid?

  • Setting off traps without doing reconnaissance: Get a rough head-count. Johnson, the city of Dallas biologist, suggests that you wait to trap the sounder instead of individual pigs so that other pigs don’t become aware of the trap. But sometimes you need to catch one pig to start on the others because one aggressive hog may be keeping the rest away, said Randy Smith, supervisor of the Fort Worth district of the Texas Wildlife Services program. He recommended using trail cameras — weatherproof, camouflaged devices that can take nighttime photos — to estimate the number of pigs roaming your land.
  • Poison, at least for now: Texas Agriculture Commissioner Sid Miller spoke enthusiastically about a “Hog Apocalypse” earlier this year when he approved the use of a controversial poison called Kaput Feral Hog Bait. The poison contains a chemical called warfarin, an anticoagulant that makes pigs bleed internally, ending in slow, painful deaths. Some people voiced concerns about the unknown effect on the food chain, and the manufacturer withdrew its state registration for the poison. Because it was classified as a state limited-use pesticide, Texas can no longer license people to use the bait. 

How do I get help?

  • Contact your city or county to find out whether they have hog control programs or referrals.
  • Check official resources for instructions on how to build a trap and other abatement measures, such as this website on “coping with feral hogs” by Texas A&M AgriLife Extension, this guide by Texas Parks and Wildlife or this guide shared by the U.S. Department of Agriculture.
  • Contact your local district of Texas Wildlife Services, a program that combines federal and state resources and that is authorized by law to control feral hogs and other animals. The Fort Worth district, which covers North Texas, can be reached at 817-978-3146.

https://www.dallasnews.com/news/animals/2017/11/21/hog-apocalypse-hold-pesky-wild-pigs-taking-texas

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The Pronk Pops Show 998, November 9, 2017, Story 1: President Trump’s Address to South Korea’s National Assembly — Great Speech — Americans and Koreans Loved It — Every Breath You Take — Videos — Story 2: President Trump Tells It Like It Is — Does Not Blame China For Hugh Trade Deficits But Past Administrations — Videos — Story 3: Republican Party Senate Bill Wants To Delay Tax Cuts To 2019 Instead of Cutting Spending Now — Need New Political Party Advocating Balanced Budgets, Broad Based Consumption Tax,and Term Limits — Voters Will Stay Home Election Day, November 6, 2018 If Congress Does Not Completely Repeal Obamacare and Enact Fundamental Reform of Tax System — Videos — Story 4: Alabama Republican Candidate for Senator, Roy Moore, Accused of Sexual Misconduct in 1979 — Desperate Democratic Dirt — Let The Voters of Alabama Decide — Accusations Are Not Evidence — Videos

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U.S. President Donald Trump delivers a speech at the National Assembly in Seoul, South Korea, Nov. 8, 2017.

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Story 1: President Trump’s Address to South Korea’s National Assembly — Great Speech — Americans and Koreans Loved It — Every Breath You Take — Videos —

MUST SEE President Trump’s Unforgettable Speech to South Korean National Assembly 11/7/17

Trump’s speech to South Korea’s parliament (full)

President Trump to North Korea: Do not underestimate us

North Korea responds to Trump’s personal attack

ALERT: Trump’s Massive Warning Has North Korea Shaking, This Is Urgent

The Police – Every Breath You Take

Every Breath You Take
Every breath you take
Every move you make
Every bond you break
Every step you take
I’ll be watching you
Every single day
Every word you say
Every game you play
Every night you stay
I’ll be watching you
Oh can’t you see
You belong to me
My poor heart aches
With every step you take
Every move you make
Every vow you break
Every smile you fake
Every claim you stake
I’ll be watching you
Since you’ve gone I been lost without a trace
I dream at night I can only see your face
I look around but it’s you I can’t replace
I feel so cold and I long for your embrace
I keep crying baby, baby, please
Oh can’t you see
You belong to me
My poor heart aches
With every step you take
Every move you make
Every vow you break
Every smile you fake
Every claim you stake
I’ll be watching you
Every move you make
Every step you take
I’ll be watching you
I’ll be watching you
(Every breath you take, every move you make, every bond you break, every step you take)
I’ll be watching you
(Every single day, every word you say, every game you play, every night you stay)
I’ll be watching you
(Every move you make, every vow you break, every smile you fake, every claim you stake)
I’ll be watching you
(Every single day, every word you say, every game you play, every night you stay)
I’ll be watching you
(Every breath you take, every move you make, every bond you break, every step you take)
I’ll be watching you
(Every single day, every word you say, every game you play, every night you stay)
I’ll be watching you
Songwriters: Gordon Sumner

 

Full Text of President Trump’s Remarks to the South Korean National Assembly


U.S. President Donald Trump delivers a speech at the National Assembly in Seoul, South Korea, Nov. 8, 2017.

U.S. President Donald Trump delivers a speech at the National Assembly in Seoul, South Korea, Nov. 8, 2017.

November 07, 2017

Remarks by President Trump to the National Assembly of the Republic of Korea | Seoul, Republic of Korea

National Assembly Building

Seoul, Republic of Korea

11:24 A.M. KST

PRESIDENT TRUMP: Assembly Speaker Chung, distinguished members of this Assembly, ladies and gentlemen: Thank you for the extraordinary privilege to speak in this great chamber and to address your people on behalf of the people of the United States of America.

In our short time in your country, Melania and I have been awed by its ancient and modern wonders, and we are deeply moved by the warmth of your welcome.

Last night, President and Mrs. Moon showed us incredible hospitality in a beautiful reception at the Blue House. We had productive discussions on increasing military cooperation and improving the trade relationship between our nations on the principle of fairness and reciprocity.

Through this entire visit, it has been both our pleasure and our honor to create and celebrate a long friendship between the United States and the Republic of Korea.

This alliance between our nations was forged in the crucible of war, and strengthened by the trials of history. From the Inchon landings to Pork Chop Hill, American and South Korean soldiers have fought together, sacrificed together, and triumphed together.

Almost 67 years ago, in the spring of 1951, they recaptured what remained of this city where we are gathered so proudly today. It was the second time in a year that our combined forces took on steep casualties to retake this capital from the communists.

Over the next weeks and months, the men soldiered through steep mountains and bloody, bloody battles. Driven back at times, they willed their way north to form the line that today divides the oppressed and the free. And there, American and South Korean troops have remained together holding that line for nearly seven decades. (Applause.)

By the time the armistice was signed in 1953, more than 36,000 Americans had died in the Korean War, with more than 100,000 others very badly wounded. They are heroes, and we honor them. We also honor and remember the terrible price the people of your country paid for their freedom. You lost hundreds of thousands of brave soldiers and countless innocent civilians in that gruesome war.

Much of this great city of Seoul was reduced to rubble. Large portions of the country were scarred — severely, severely hurt — by this horrible war. The economy of this nation was demolished.

But as the entire world knows, over the next two generations something miraculous happened on the southern half of this peninsula. Family by family, city by city, the people of South Korea built this country into what is today one of the great nations of the world. And I congratulate you. (Applause.) In less than one lifetime, South Korea climbed from total devastation to among the wealthiest nations on Earth.

Today, your economy is more than 350 times larger than what it was in 1960. Trade has increased 1,900 times. Life expectancy has risen from just 53 years to more than 82 years today.

Like Korea, and since my election exactly one year ago today, I celebrate with you. (Applause.) The United States is going through something of a miracle itself. Our stock market is at an all-time high. Unemployment is at a 17-year low. We are defeating ISIS. We are strengthening our judiciary, including a brilliant Supreme Court justice, and on, and on, and on.

Currently stationed in the vicinity of this peninsula are the three largest aircraft carriers in the world loaded to the maximum with magnificent F-35 and F-18 fighter jets. In addition, we have nuclear submarines appropriately positioned. The United States, under my administration, is completely rebuilding its military and is spending hundreds of billions of dollars to the newest and finest military equipment anywhere in the world being built, right now. I want peace through strength. (Applause.)

We are helping the Republic of Korea far beyond what any other country has ever done. And, in the end, we will work things out far better than anybody understands or can even appreciate. I know that the Republic of Korea, which has become a tremendously successful nation, will be a faithful ally of the United States very long into the future. (Applause.)

What you have built is truly an inspiration. Your economic transformation was linked to a political one. The proud, sovereign, and independent people of your nation demanded the right to govern themselves. You secured free parliamentary elections in 1988, the same year you hosted your first Olympics.

after, you elected your first civilian president in more than three decades. And when the Republic you won faced financial crisis, you lined up by the millions to give your most prized possessions — your wedding rings, heirlooms, and gold “luck keys” — to restore the promise of a better future for your children. (Applause.)

Your wealth is measured in more than money — it is measured in achievements of the mind and achievements of spirit. Over the last several decades, your scientists of engineers — have engineered so many magnificent things. You’ve pushed the boundaries of technology, pioneered miraculous medical treatments, and emerged as leaders in unlocking the mysteries of our universe.

Korean authors penned roughly 40,000 books this year. Korean musicians fill concert halls all around the world. Young Korean students graduate from college at the highest rates of any country. And Korean golfers are some of the best on Earth. (Applause.)

fact — and you know what I’m going to say — the Women’s U.S. Open was held this year at Trump National Golf Club in Bedminster, New Jersey, and it just happened to be won by a great Korean golfer, Sung-hyun Park. An eighth of the top 10 players were from Korea. And the top four golfers — one, two, three, four — the top four were from Korea. Congratulations. (Applause.) Congratulations. And that’s something. That is really something.

Here in Seoul, architectural wonders like the Sixty-Three Building and the Lotte World Tower — very beautiful — grace the sky and house the workers of many growing industries.

citizens now help to feed the hungry, fight terrorism, and solve problems all over the world. And in a few months, you will host the world and you will do a magnificent job at the 23rd Olympic Winter Games. Good luck. (Applause.)

The Korean miracle extends exactly as far as the armies of free nations advanced in 1953 — 24 miles to the north. There, it stops; it all comes to an end. Dead stop. The flourishing ends, and the prison state of North Korea sadly begins.

Workers in North Korea labor grueling hours in unbearable conditions for almost no pay. Recently, the entire working population was ordered to work for 70 days straight, or else pay for a day of rest.

Families live in homes without plumbing, and fewer than half have electricity. Parents bribe teachers in hopes of saving their sons and daughters from forced labor. More than a million North Koreans died of famine in the 1990s, and more continue to die of hunger today.

Among children under the age of five, nearly 30 percent of afflicted — and are afflicted by stunted growth due to malnutrition. And yet, in 2012 and 2013, the regime spent an estimated $200 million — or almost half the money that it allocated to improve living standards for its people — to instead build even more monuments, towers, and statues to glorify its dictators.

What remains of the meager harvest of the North Korean economy is distributed according to perceived loyalty to a twisted regime. Far from valuing its people as equal citizens, this cruel dictatorship measures them, scores them, and ranks them based on the most arbitrary indications of their allegiance to the state. Those who score the highest in loyalty may live in the capital city. Those who score the lowest starve. A small infraction by one citizen, such as accidently staining a picture of the tyrant printed in a discarded newspaper, can wreck the social credit rank of his entire family for many decades.

An estimated 100,000 North Koreans suffer in gulags, toiling in forced labor, and enduring torture, starvation, rape, and murder on a constant basis.

In one known instance, a 9-year-old boy was imprisoned for 10 years because his grandfather was accused of treason. In another, a student was beaten in school for forgetting a single detail about the life of Kim Jong-un.

Soldiers have kidnapped foreigners and forced them to work as language tutors for North Korean spies.

In the part of Korea that was a stronghold for Christianity before the war, Christians and other people of faith who are found praying or holding a religious book of any kind are now detained, tortured, and in many cases, even executed.

North Korean women are forced to abort babies that are considered ethnically inferior. And if these babies are born, the newborns are murdered.

One woman’s baby born to a Chinese father was taken away in a bucket. The guards said it did not “deserve to live because it was impure.”

So why would China feel an obligation to help North Korea?

The horror of life in North Korea is so complete that citizens pay bribes to government officials to have themselves exported aboard as slaves. They would rather be slaves than live in North Korea.

To attempt to flee is a crime punishable by death. One person who escaped remarked, “When I think about it now, I was not a human being. I was more like an animal. Only after leaving North Korea did I realize what life was supposed to be.”

And so, on this peninsula, we have watched the results of a tragic experiment in a laboratory of history. It is a tale of one people, but two Koreas. One Korea in which the people took control of their lives and their country, and chose a future of freedom and justice, of civilization, and incredible achievement. And another Korea in which leaders imprison their people under the banner of tyranny, fascism, and oppression. The result of this experiment are in, and they are totally conclusive.

When the Korean War began in 1950, the two Koreas were approximately equal in GDP per capita. But by the 1990s, South Korea’s wealth had surpassed North Korea’s by more than 10 times. And today, the South’s economy is over 40 times larger. You started the same a short while ago, and now you’re 40 times larger. You’re doing something right.

Considering the misery wrought by the North Korean dictatorship, it is no surprise that it has been forced to take increasingly desperate measures to prevent its people from understanding this brutal contrast.

Because the regime fears the truth above all else, it forbids virtually all contact with the outside world. Not just my speech today, but even the most commonplace facts of South Korean life are forbidden knowledge to the North Korean people. Western and South Korean music is banned. Possession of foreign media is a crime punishable by death. Citizens spy on fellow citizens, their homes are subject to search at any time, and their every action is subject to surveillance. In place of a vibrant society, the people of North Korea are bombarded by state propaganda practically every waking hour of the day.

North Korea is a country ruled as a cult. At the center of this military cult is a deranged belief in the leader’s destiny to rule as parent protector over a conquered Korean Peninsula and an enslaved Korean people.

The more successful South Korea becomes, the more decisively you discredit the dark fantasy at the heart of the Kim regime.

In this way, the very existence of a thriving South Korean republic threatens the very survival of the North Korean dictatorship.

This city and this assembly are living proof that a free and independent Korea not only can, but does stand strong, sovereign, and proud among the nations of the world. (Applause.)

Here, the strength of the nation does not come from the false glory of a tyrant. It comes from the true and powerful glory of a strong and great people — the people of the Republic of Korea — a Korean people who are free to live, to flourish, to worship, to love, to build, and to grow their own destiny.

In this Republic, the people have done what no dictator ever could — you took, with the help of the United States, responsibility for yourselves and ownership of your future. You had a dream — a Korean dream — and you built that dream into a great reality.

In so doing, you performed the miracle on the Hahn that we see all around us, from the stunning skyline of Seoul to the plains and peaks of this beautiful landscape. You have done it freely, you have done it happily, and you have done it in your own very beautiful way.

This reality — this wonderful place — your success is the greatest cause of anxiety, alarm, and even panic to the North Korean regime. That is why the Kim regime seeks conflict abroad — to distract from total failure that they suffer at home.

Since the so-called armistice, there have been hundreds of North Korean attacks on Americans and South Koreans. These attacks have included the capture and torture of the brave American soldiers of the USS Pueblo, repeated assaults on American helicopters, and the 1969 drowning [downing] of a U.S. surveillance plane that killed 31 American servicemen. The regime has made numerous lethal incursions in South Korea, attempted to assassinate senior leaders, attacked South Korean ships, and tortured Otto Warmbier, ultimately leading to that fine young man’s death.

All the while, the regime has pursued nuclear weapons with the deluded hope that it could blackmail its way to the ultimate objective. And that objective we are not going to let it have. We are not going to let it have. All of Korea is under that spell, divided in half. South Korea will never allow what’s going on in North Korea to continue to happen.

The North Korean regime has pursued its nuclear and ballistic missile programs in defiance of every assurance, agreement, and commitment it has made to the United States and its allies. It’s broken all of those commitments. After promising to freeze its plutonium program in 1994, it repeated [reaped] the benefits of the deal and then — and then immediately continued its illicit nuclear activities.

In 2005, after years of diplomacy, the dictatorship agreed to ultimately abandon its nuclear programs and return to the Treaty on Non-Proliferation. But it never did. And worse, it tested the very weapons it said it was going to give up. In 2009, the United States gave negotiations yet another chance, and offered North Korea the open hand of engagement. The regime responded by sinking a South Korean Navy ship, killing 46 Korean sailors. To this day, it continues to launch missiles over the sovereign territory of Japan and all other neighbors, test nuclear devices, and develop ICBMs to threaten the United States itself. The regime has interpreted America’s past restraint as weakness. This would be a fatal miscalculation. This is a very different administration than the United States has had in the past.

Today, I hope I speak not only for our countries, but for all civilized nations, when I say to the North: Do not underestimate us, and do not try us. We will defend our common security, our shared prosperity, and our sacred liberty.

We did not choose to draw here, on this peninsula — (applause) — this magnificent peninsula — the thin line of civilization that runs around the world and down through time. But here it was drawn, and here it remains to this day. It is the line between peace and war, between decency and depravity, between law and tyranny, between hope and total despair. It is a line that has been drawn many times, in many places, throughout history. To hold that line is a choice free nations have always had to make. We have learned together the high cost of weakness and the high stakes of its defense.

America’s men and women in uniform have given their lives in the fight against Nazism, imperialism, Communism and terrorism.

America does not seek conflict or confrontation, but we will never run from it. History is filled with discarded regimes that have foolishly tested America’s resolve.

Anyone who doubts the strength or determination of the United States should look to our past, and you will doubt it no longer. We will not permit America or our allies to be blackmailed or attacked. We will not allow American cities to be threatened with destruction. We will not be intimidated. And we will not let the worst atrocities in history be repeated here, on this ground, we fought and died so hard to secure. (Applause.)

That is why I have come here, to the heart of a free and flourishing Korea, with a message for the peace-loving nations of the world: The time for excuses is over. Now is the time for strength. If you want peace, you must stand strong at all times. (Applause.) The world cannot tolerate the menace of a rogue regime that threatens with nuclear devastation.

All responsible nations must join forces to isolate the brutal regime of North Korea — to deny it and any form — any form of it. You cannot support, you cannot supply, you cannot accept. We call on every nation, including China and Russia, to fully implement U.N. Security Council resolutions, downgrade diplomatic relations with the regime, and sever all ties of trade and technology.

It is our responsibility and our duty to confront this danger together — because the longer we wait, the greater the danger grows, and the fewer the options become. (Applause.) And to those nations that choose to ignore this threat, or, worse still, to enable it, the weight of this crisis is on your conscience.

I also have come here to this peninsula to deliver a message directly to the leader of the North Korean dictatorship: The weapons you are acquiring are not making you safer. They are putting your regime in grave danger. Every step you take down this dark path increases the peril you face.

North Korea is not the paradise your grandfather envisioned. It is a hell that no person deserves. Yet, despite every crime you have committed against God and man, you are ready to offer, and we will do that — we will offer a path to a much better future. It begins with an end to the aggression of your regime, a stop to your development of ballistic missiles, and complete, verifiable, and total denuclearization. (Applause.)

A sky-top view of this peninsula shows a nation of dazzling light in the South and a mass of impenetrable darkness in the North. We seek a future of light, prosperity, and peace. But we are only prepared to discuss this brighter path for North Korea if its leaders cease their threats and dismantle their nuclear program.

The sinister regime of North Korea is right about only one thing: The Korean people do have a glorious destiny, but they could not be more wrong about what that destiny looks like. The destiny of the Korean people is not to suffer in the bondage of oppression, but to thrive in the glory of freedom. (Applause.)

What South Koreans have achieved on this peninsula is more than a victory for your nation. It is a victory for every nation that believes in the human spirit. And it is our hope that, someday soon, all of your brothers and sisters of the North will be able to enjoy the fullest of life intended by God.

Your republic shows us all of what is possible. In just a few decades, with only the hard work, courage, and talents of your people, you turned this war-torn land into a nation blessed with wealth, rich in culture, and deep in spirit. You built a home where all families can flourish and where all children can shine and be happy.

This Korea stands strong and tall among the great community of independent, confident, and peace-loving nations. We are nations that respect our citizens, cherish our liberty, treasure our sovereignty, and control our own destiny. We affirm the dignity of every person and embrace the full potential of every soul. And we are always prepared to defend the vital interests of our people against the cruel ambition of tyrants.

Together, we dream of a Korea that is free, a peninsula that is safe, and families that are reunited once again. We dream of highways connecting North and South, of cousins embracing cousins, and this nuclear nightmare replaced with the beautiful promise of peace.

Until that day comes, we stand strong and alert. Our eyes are fixed to the North, and our hearts praying for the day when all Koreans can live in freedom. (Applause.)

Thank you. (Applause.) God Bless You. God Bless the Korean people. Thank you very much. Thank you. (Applause.)

END

https://www.voanews.com/a/text-of-trump-speech-to-south-korean-national-assembly-/4106294.html

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Story 3: Republican Party Senate Bill Wants To Delay Tax Cuts To 2019 Instead of Cutting Spending Now — Need New Political Party Advocating Balanced Budgets, Broad Based Consumption Tax, and Term Limits — Voters Will Stay Home Election Day, November 6, 2018 If Congress Does Not Completely Repeal Obamacare and Enact Fundamental Reform of Tax System — Videos —

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Here’s what’s in the Senate Republican tax plan

  • The Senate plan contains some key differences from the one working its way through the House.
  • The plan would chop the corporate tax rate and make broad tweaks to the individual tax system.

Jacob Pramuk | Ylan Mui

Senate Majority Leader Mitch McConnell (R-KY)

Senate tax bill has seven tax brackets, say sources  

Senate Republicans on Thursday unveiled a plan which would chop the corporate tax rate and make broad tweaks to the individual tax system. It contains key differences from a bill working its way through the House.

GOP senators contend the tax system overhaul will ease the burden on middle-income Americans while encouraging companies to boost hiring and wages.

Trimming the tax burden on businesses and individuals has long been a Republican goal. With unified control of the White House and both chambers of Congress, the GOP aims to pass a tax reform plan this year, despite lingering challenges.

Issues facing GOP lawmakers include budget deficits generated by the deep cuts, opposition from blue-state House Republicans and backlash from Democrats who say the proposals will not go far enough to help middle-class workers.

Here are some of the key features of the Senate plan, much of which was outlined by the Senate Finance Committee:

  • The proposal chops the corporate tax rate from 35 percent to 20 percent. It would delay the change until 2019, a source told CNBC. In the House bill, that measure would take effect next year.
  • The Senate plan would keep seven individual income tax brackets, a source told CNBC. A 12 percent bracket would replace the current 15 percent, while the top rate would get cut slightly to 38.5 percent. The House plan would reduce the number of brackets to four.
  • Like the House bill, the Senate proposal would nearly double the standard deduction to $12,000 for individuals and $24,000 for married couples.
  • The Senate plan would eliminate federal deductions for state and local taxes. The House bill also has this.
  • It would not change the mortgage interest deduction, which allows deductions on interest for up to $1 million in mortgage debt. The House bill caps that figure at $500,000.
  • It keeps popular tax breaks for 401(k) retirement accounts and charitable contributions.
  • It aims to reduce the burden on pass-through businesses by adding a deduction.
  • The Senate plan increases the child tax credit from $1,000 to $1,650.
  • The proposal doubles the exemption for the estate tax, or so-called death tax, but does not eliminate it. The House plan repeals the estate tax after six years.

The House Ways and Means Committee voted Thursday to advance its tax bill. Committee Chairman Rep. Kevin Brady, R-Texas, made changes to the proposal ahead of the vote.

House Majority Leader Kevin McCarthy, R-Calif., on Thursday said the full House would vote on the proposal next week.

Meanwhile, the Senate Finance Committee aims to start marking up, or debating and amending, a bill next week.

If the Senate and House pass separate tax bills, lawmakers will have to reconcile them. Republicans have set an end-of-the-year target to overhaul the U.S. tax system.

If three GOP senators oppose the plan, the chamber cannot pass it, assuming all Democrats and independents vote against it.

House lawmakers are searching for ways to reduce the budget deficits created by the bill to make it comply with budget rules. A tax proposal cannot add more than $1.5 trillion in deficits over 10 years under budget guidelines recently set by the Senate and House.

https://www.cnbc.com/2017/11/09/senate-republicans-release-tax-reform-plan.html

 

Senate GOP plan would delay corporate tax cut, protect mortgage interest deduction

Senate Finance Committee Chairman Orrin Hatch (R-Utah) said on Nov. 9 that the tax process is “very complicated,” with senators, House members and President Trump all wanting different priorities included. (Jordan Frasier/The Washington Post)

 November 9 at 3:40 PM

Senate Republicans are forging their own path on the effort to overhaul the U.S. tax code, offering a plan Thursday that would delay President Trump’s top business priority and blow up House Republicans’ carefully crafted compromise on property tax deductions.GOP Senate leaders unveiled a tax package that would delay cutting the corporate tax rate from 35 percent to 20 percent until 2019. That’s a major departure from Trump’s insistence on immediate tax cuts that he says are necessary to spur the economy.The one-year delay would lower the cost of the tax bill by more than $100 billion, and negotiators are trying to preserve as much revenue as they can for other changes. But it could also delay companies moving back to the United States from overseas or prompt them to hold off on other decisions as they wait for the corporate rate to fall.It was one of many trade-offs that Senate leaders made as they tried to craft a bill that would lower taxes but also add no more than $1.5 trillion to the debt over 10 years. Still, a number of changes are expected to be made as lawmakers begin debating the measure next week. The bill as currently constructed does not comply with Senate rules that prohibit certain legislation from adding to the deficit after 10 years.This could force Republicans to make some of the taxcuts temporary, though those decisions have not yet been made.

From left: Republicans House SpeakerPaul Ryan, Sen. Orrin G. Hatch and Senate Majority Leader Mitch McConnell (Melina Mara/The Washington Post) (Melina Mara/The Washington Post)

Senate Republicans briefed White House officials on the one-year delay, and Trump administration officials said they would accept such a provision. To try to prod companies into expansion next year, the Senate bill would allow companies to immediately deduct all capital investments in 2018. Companies would be allowed to immediately expense these investments for five years.

The emerging Senate bill comes as the GOP’s broader tax cut effort comes into sharper focus. With the House likely to pass its version of the House bill as soon as next week, Republicans are making progress advancing Trump’s top legislative priority.

But before the tax cut bills can become law, the House and Senate must pass matching versions of the legislation, and a number of differences remain.

“We know we have more work yet to be done, but this is a historic step,” House Ways and Means Committee Chairman Kevin Brady (R-Texas) said. “Will there be some differences? Of course, that’s the legislative process. We welcome that.”

In a move that could cause major tension in the House, the Senate bill would prohibit Americans from deducting state and local income and property taxes from their federal bills, a change which could raise taxes overall for Americans in high-tax states such as New York, New Jersey, California, Oregon, and Illinois.

The Senate’s approach to state and local deductions is at odds with the tax bill in the House, where Republicans settled on a compromise — scrapping some of the state and local deduction but still allowing a deduction of up to $10,000 on property taxes — after GOP lawmakers from high-tax states revolted against an initial House plan to scrap the deduction entirely.

The proposal to eliminate that deduction in both the Senate and House bill would only apply to individuals and families, while businesses would still be allowed to deduct state and local taxes, as these would be protected as a business expense. The discrepancy could further inflame Democrats, who have criticized the GOP tax cut effort as offering too many benefits for companies and stripping benefits away from individuals and families.

“Senate Republicans are doubling down on their gamble with middle class family budgets to pay for massive handouts to big corporations and tax cheats,” said Sen. Ron Wyden (D-Ore).

The Senate bill also eliminates the personal exemption many Americans take to lower their taxable income, but it does expand the child tax credit and nearly doubles the “standard deduction.”

The Senate plan would also keep the mortgage interest deduction largely intact, capped at the current level of $1 million, according to a Republican official who spoke on the condition of anonymity because the official was not authorized to speak publicly. In the House bill, people would only be allowed to deduct interest payments on their first $500,000 worth of home loans, a proposal that generated fierce opposition from the housing industry.

The Senate bill would also make changes to the estate tax, a levy placed only on very large estates when they’re inherited from their deceased owner. The House bill would eliminate the estate tax, but the Senate bill would stop short of that. It would essentially double the size of estates that are exempt from being taxed, but it would not jettison the provision completely.

The Senate bill would also continue allowing people to deduct payments on student loan interest and to deduct some medical expenses — a provision dropped from the House plan that could lead to significantly higher taxes for many households, particularly for the elderly.

The Senate bill will propose to lower tax rates across income levels as a way to lower tax bills for most Americans, Senate Finance Committee aides said.

The package as currently constructed, however, has significant problems.

Senate Finance Committee aides said they planned to make adjustments to the legislation because it likely does not comply with Senate rules that prohibit certain bills from adding to the debt after 10 years. This could require them to allow the tax cuts to expire after a number of years.

Republicans control 52 votes in the 100-seat Senate, meaning they can only lose two members if they want to pass a bill without Democratic support. A 50-50 tie would go to Republicans, as Vice President Pence would cast the tiebreaking vote.

It’s because of that delicate majority that many White House officials expect a tax bill — if it eventually becomes law — to more closely resemble the Senate bill. Senate Republicans will work to resolve differences among themselves in the next few weeks, but major changes made in the House could upend any agreement.

Senate lawmakers also must grapple with strict rules that regulate how a tax-cut bill is designed. To use special Senate procedures to get around a filibuster from Democrats, Republicans must write a bill that does not add more than $1.5 trillion to the debt over 10 years.

Republicans, such as Sens. Bob Corker (Tenn.), Jeff Flake (Ariz.) and James Lankford (Okla.), have said they would not support a tax plan that adds too much to the debt, creating a bloc of votes that would be able to kill the bill if they aren’t appeased.

House Republican leaders are facing difficult decisions as they try to advance their tax bill. On Thursday, House Ways and Means Committee Republicans voted to advance their bill out of committee. The vote, which clears the bill to advance to the House floor, included revisions meant to eliminate a $74 billion shortfall and address other issues complicating the bill’s passage.

To offset the various revenue-losing provisions introduced Thursday, House tax writers opted to increase tax rates on foreign assets moved back to the United States by multinational corporations. The previous five percent tax on fixed assets would rise to seven percent, while a 12 percent tax on cash held abroad would jump to 14 percent.

The House revisions would also direct further benefits to middle-class taxpayers. It would restore the Child Adoption Tax Credit left out of the previous version and allow for a deduction of moving expenses available to active-duty military members. The Child Adoption Tax Credit is also included in the Senate bill.

Other changes in the House bill are directed at businesses, including a further rate reduction for certain qualified “pass-through” firms that send their earnings to their owners to be taxed as individual income.

Another revision to the House bill that Brady released Thursday appears to dramatically change the rules on what sort of political activities a tax-exempt nonprofit organization may engage in. Language that applied only to religious organizations, giving them a freer hand to speak out on political campaigns, was broadened in the new amendment to include all 501(c) (3) organizations.

The stock market fell Thursday after The Washington Post reported that the Senate bill included a one-year delay, with investors worried that it could force companies to hold back expansion plans. But White House officials signaled they were willing to accept a one-year delay if it meant the bill would eventually become law.

There are other notable differences between the Senate and House bills.

In a break from the House plan, which kept the top marginal income tax rate at the current 39.6 percent, the Senate bill would slightly lower it to 38.5 percent — a win for advocates of supply-side economic theory who argue a lower top rate will grow the economy.

The Senate bill will retain seven income brackets for families, while the House bill proposes collapsing the existing seven brackets down to four.

The House bill would immediately cut the corporate tax rate to 20 percent, offer families a five-year “flexibility credit” of $300 per parent, and expand the child tax credit. It would also collapse the seven income tax brackets paid by families and individuals down to four brackets, only taxing income above $1 million at the highest rate of 39.6 percent.

https://www.washingtonpost.com/business/economy/senate-gop-plan-would-delay-corporate-tax-cut-until-2019-breaking-with-trump/2017/11/09/92ea07ec-c55d-11e7-afe9-4f60b5a6c4a0_story.html?utm_term=.8e2bb4b399b9

Both the Senate and House tax bills would make the child tax credit more generous. While the Senate version is somewhat more favorable to the middle class, both would disproportionately favor high earners.CreditAndrew Burton/Getty Images

WASHINGTON — Mitch McConnell, the Senate majority leader, acknowledged on Friday that the Republican tax plan might result in a tax hike for some working Americans, saying he “misspoke” days earlier when he said that “nobody in the middle class is going to get a tax increase” under the Senate bill.

“I misspoke on that,” Mr. McConnell, a Kentucky Republican, said in an interview on Friday with The New York Times. “You can’t guarantee that absolutely no one sees a tax increase, but what we are doing is targeting levels of income and looking at the average in those levels and the average will be tax relief for the average taxpayer in each of those segments.”

The Senate bill unveiled on Thursday would raise taxes on millions of middle-class families, according to a preliminary New York Times analysis. The plan would also disproportionately benefit high earners and corporations. Still, middle-class earners would fare better under the Senate proposal than its counterpart in the House, the analysis found.

The Senate Finance Committee bill would, on average, cut taxes for people at every income level. But, as Mr. McConnell alluded to in his revised remarks, those benefits would vary widely within income brackets, depending on the specific circumstances of individuals and households, and many would pay more than under existing rules.

Republican lawmakers have been in a dash to devise — and pass — a tax overhaul that would mark their most significant achievement since taking control of Congress. President Trump and Republican leaders have outlined two main objectives for the rewrite: cutting taxes for American businesses and for the middle class. The legislation reduces tax rates on individuals and businesses, while eliminating some tax breaks to make up for lost revenues. It is meant to accelerate economic growth and increase wages for workers.

Continue reading the main story

The Times analysis, using the open-source software TaxBrain, found that roughly one-quarter of families in the middle class would see their taxes increase in 2018, by about $1,000 on average. By 2026, the share seeing an increase would rise slightly, to about one-third, and the average increase would rise to about $1,600. For the majority of middle-class families that receive a tax cut, the average savings would be about $1,300 in 2018 and $1,700 in 2026.

HOW MUCH WOULD PEOPLE SAVE?

People across income brackets would see savings from the Senate plan in 2018. But for many in the middle class, the savings would be relatively small. The table below shows the average savings, by income, for those who would receive a tax cut.

  • Under $30,000:

    $180

  • $30,000-$50,000:

    $600

  • $50,000-$75,000:

    $976

  • $75,000-$100,000:

    $1,277

  • $100,000-$200,000:

    $2,113

  • $200,000-$500,000:

    $4,121

  • More than $500,000:

    $28,313

The Times analysis defines the middle class broadly as those earning between two-thirds and twice the median household income, or about $50,000 to $160,000 per year for a family of three. To focus on families, the analysis excluded individual filers and households headed by people 65 or older and is adjusted for the size of each household.

Under the House bill, The Times has found, about half of middle-class families would pay more in taxes in 2026.

The analysis did not seek to calculate how workers might benefit from a steep cut in the corporate tax rate, which both the Senate and House bills would reduce to 20 percent from a top rate of 35 percent today, or project how the bills might increase economic growth and, with it, Americans’ wages.

On Friday, the independent Tax Foundation released an analysis of the plan’s growth effects. It projected that the Senate bill would increase gross domestic product by 3.7 percent over the next decade and raise wages by 2.9 percent across the economy.

For taxpayers earning more than $1 million a year, the Senate bill offers a more limited upside and downside than the House bill.

The Senate bill is less likely than the House bill to yield tax increases for high-income Americans, in part because it cuts the top marginal personal tax rate, while the House bill creates a so-called “bubble rate” that would actually raise taxes on many high-salaried workers.

The Senate measure would also produce a smaller average tax windfall for high earners than the House version, in part by offering less generous benefits for owners of businesses known as pass-throughs, which are not organized as corporations.

Under the Senate plan, “Americans are especially likely to face a tax increase if they have a smaller family, have mostly wage income instead of investment income, or claim some of the many deductions that the bill repeals, like those for state and local taxes and employee business expenses,” said Lily Batchelder, a professor and tax specialist at New York University Law School, who worked on economic policy in the Obama administration. “They are increasing taxes on many in the middle class, while concentrating their tax cuts on the wealthy.”

The Senate bill appears much better for the very wealthy than it is for the somewhat wealthy. About half of families earning between two and three times the median income — or about $160,000 to $240,000 for a family of three — would pay more in 2018 than under existing law. But among the richest families, those earning more than about $500,000 for a family of three, nearly 90 percent would get a tax cut.

The findings come with an important caveat: The Senate bill, as written, appears unable to muster the 60 votes needed to avoid a Democratic filibuster, meaning Republicans will need to amend it to comply with the budget reconciliation rules and allow permit passage by a simple majority. Those changes could likely include putting expiration dates on some of the bill’s major provisions, which could make the final version of the bill look less favorable to the middle class, particularly in later years.

The Times’s figures are based on an analysis of Census Bureau data using a tax model from the Open Source Policy Center, a Washington research organization affiliated with the right-leaning American Enterprise Institute. Because the analysis is based on publicly available data, not actual tax records, it may not capture all the intricacies of Americans’ household finances.

The Senate bill differs sharply from the House version in its approach to cutting taxes on businesses. But when it comes to taxes on individuals and families, the bills are more similar than different. Both would double the standard deduction while eliminating a raft of deductions and credits. Both would make the child tax credit more generous. Both would restructure federal income tax brackets to impose lower marginal tax rates at most income levels, although the Senate approach, unlike the House version, doesn’t eliminate two brackets entirely.

The Senate bill includes features that would make its plan more favorable to the middle class. It preserves some popular tax deductions and credits that the House bill initially would have eliminated, and it makes the child tax credit somewhat more generous and widely available. On the other hand, the Senate bill, unlike the House version, would eliminate the deduction for property taxes, which could lead to higher federal taxes for homeowners in areas with high property tax rates or expensive housing markets.

Aparna Mathur, an economist at the American Enterprise Institute, said senators could improve the bill with further changes, such as expanding the earned-income tax credit and extending the benefits of the child tax credit to more low-income taxpayers. “We clearly need to do more to help the lowest-income families,” she said. “At the same time, we can engage in more base broadening for the highest-income households, perhaps by eliminating and not just capping the mortgage-interest deduction.”

The Times analysis found that roughly one-fifth of the Senate bill’s cuts in 2018 would go to families and individuals earning $1 million or more, and close to half would go to people earning at least $200,000. Between 10 million and 15 million taxpayers earning less than $100,000 a year would pay more than under existing law.

Families earning more than $1 million a year would see their after-tax income rise by about 1.7 percent in 2018 compared with what they would make under current law, nearly triple the gains enjoyed by those earning less than $200,000.

Over all, the Senate bill would cut individual income taxes by about $30 billion in 2018, and by $900 billion over the next decade, according to Congress’s nonpartisan Joint Committee on Taxation. And most people in all income groups would see a tax cut, although the cuts would be modest for most lower earners.

Story 4: Alabama Republican Candidate for Senator, Roy Moore, Accused of Sexual Misconduct in 1979 — Desperate Democratic Dirt — Let The Voters of Alabama Decide — Accusations Are Not Evidence — Videos

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Leigh Corfman, left, in a photo from 1979, when she was about 14. At right, from top, Wendy Miller around age 16, Debbie Wesson Gibson around age 17 and Gloria Thacker Deason around age 18. (Family photos)

Leigh Corfman says she was 14 years old when an older man approached her outside a courtroom in Etowah County, Ala. She was sitting on a wooden bench with her mother, they both recall, when the man introduced himself as Roy Moore.

It was early 1979 and Moore —