The Pronk Pops Show 978, October 5, 2017, Story 1: Steven Paddock — Medicated Mad Mass Murderer Acted Alone — Drug/Alcohol/Hooker Assisted Homicides and Suicide — Big Drinker, Gambler At Video Poker,  “Mental Health Symptoms” — Addicted To Risk Taking — Treat Mental Illness — Banning Bump Fire Stock Is Not Addressing The Problem of Mental Illness and Prescribed Drug Induced Suicides and Homicides — Common Sense Mental Illness Ban? — Nonsense — Videos — Story 2: House of Representatives Passed Budget Blueprint — $600 Billion Plus Budget Deficit and Unbalanced Budgets — A Blueprint of Financial Irresponsibility By Burdening Current and Future Generations With Massive Debt — Replace Big Government Two Party Tyranny, Oppression and Empire with A Limited Government Representative Republic As The Founders Envisioned Under The Constitution –Videos

Posted on October 6, 2017. Filed under: American History, Banking System, Budgetary Policy, Cartoons, Communications, Congress, Constitutional Law, Corruption, Countries, Culture, Currencies, Defense Spending, Donald J. Trump, Donald J. Trump, Donald Trump, Donald Trump, Drugs, Economics, Education, Elections, Fiscal Policy, Foreign Policy, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, History, House of Representatives, Human, Illegal Drugs, Independence, Knifes, Labor Economics, Law, Legal Drugs, Life, Media, Medicare, Monetary Policy, Networking, People, Philosophy, Photos, Pistols, Politics, Polls, President Trump, Progressives, Radio, Raymond Thomas Pronk, Regulation, Resources, Rifles, Rule of Law, Scandals, Security, Senate, Social Networking, Social Science, Social Security, Surveillance/Spying, Tax Policy, Taxation, Taxes, Trump Surveillance/Spying, Unemployment, United States of America, Videos, Violence, War, Wealth, Wisdom | Tags: , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

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

Pronk Pops Show 972, September 26, 2017

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

Pronk Pops Show 955, August 30, 2017

Pronk Pops Show 954, August 29, 2017

Pronk Pops Show 953, August 28, 2017

Pronk Pops Show 952, August 25, 2017

Pronk Pops Show 951, August 24, 2017

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

Pronk Pops Show 939, August 2, 2017

Pronk Pops Show 938, August 1, 2017

Pronk Pops Show 937, July 31, 2017

Pronk Pops Show 936, July 27, 2017

Pronk Pops Show 935, July 26, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 933, July 24, 2017

Pronk Pops Show 932, July 20, 2017

Pronk Pops Show 931, July 19, 2017

Pronk Pops Show 930, July 18, 2017

Pronk Pops Show 929, July 17, 2017

Pronk Pops Show 928, July 13, 2017

Pronk Pops Show 927, July 12, 2017

Pronk Pops Show 926, July 11, 2017

Pronk Pops Show 925, July 10, 2017

Pronk Pops Show 924, July 6, 2017

Pronk Pops Show 923, July 5, 2017

Pronk Pops Show 922, July 3, 2017

Image result for drugs and mass shootings

 

Image result for House of Representatives blueprint for a better america

Image result for medicated mass murders

Image result for medicated mass shootings in U.S.

Image result for medicated mass murders

Image result for drugs and mass shootings

Image result for list of psychotropic drugs

 

Story 1: Steven Paddock — Medicated Mad Mass Murderer Acted Alone — Drug/Alcohol/Hooker Assisted Homicides and Suicide — Big Drinker, Gambler At Video Poker,  “Mental Health Symptoms” — Addicted To Risk Taking — Treat Mental Illness — Banning Bump Fire Stock Is Not Addressing The Problem of Mental Illness and Prescribed Drug Induced Suicides and Homicides — Common Sense Mental Illness Ban? — Nonsense — Videos —

Video from ABOVE SHOOTER – 48th Floor of Mandalay Bay during Las Vegas Shootings (GRAPHIC LANGUAGE)

Sharon Judy recalls Stephen Paddock talking about his gambling

Steve Paddock’s Neighbor Tells Michael Savage He Was an Average Guy

Las Vegas Gunman’s Hotel Room Was Comped Because He Gambled So Much

Video Poker – How to Win and How it Works

How to Become a Winning Video Poker Player with Video Poker Expert Henry Tamburin

Las Vegas Shooting: Inside Stephen Paddock’s Mandalay Bay Hotel Room | TODAY

Who is Stephen Paddock, Vegas shooting suspect?

BAD News After What Was Just Found On Shooter’s Hotel Room Video And Who He Was Caught Paying

SWAT and FBI at Las Vegas shooter Stephen Paddock’s Reno home

Gun Owners Discuss Massacre At Las Vegas Area Gun Range | MSNBC

Gun shop manager who sold firearms to Stephen Paddock speaks out

Las Vegas, “Bump Stocks”, and How We Fix This: Thursday Rough-Cut

Sarah Huckabee Sanders responds to NRA support for ‘bump stock’ ban

Paul Ryan: Bump Stocks Clearly ‘Something We Need To Look Into’ | MSNBC

Paul Ryan BUSTED On Mental Health Lie

The NRA Wants To Regulate ‘Bump Stock’ Gun Accessories, Paul Ryan Says We Need To Learn More | TIME

NRA: Government should review if bump stocks comply with law

What is a bump fire stock?

Installing and using a Bump Stock on my AR-15

Bump Fire Stock VS Real M-16

Banning Bump Fire Stocks Is NOT The Answer NRA!

EXCLUSIVE: Las Vegas shooter gambled $100,000 an hour in video poker with ‘constant stream of booze’ and was VIP guest at tournaments with free rooms and shopping sprees

  • Las Vegas shooter was so hooked on gambling he played up to 1,000 hands of video poker in a single hour – at a cost of $100,000
  • Stephen Paddock was well-enough known to be invited to $50,000 prize video poker tournaments but was not considered ‘a whale’, the biggest gamblers
  • He was not friendly or sociable and other players noticed he always had a drink with him 
  • Paddock would also play video poker by himself, betting five $125 hands similtaneously, moving so quickly that he could stake $100,000 in an hour
  • Experts say he could easily have been breaking even as video poker has the best odds of doing so but that in the long run casinos always win
  • Michael Shackleford, a casino analyst, said: ”I think he was a smart recreational gambler who saw it as a way to have a free vacation.’

The Las Vegas shooter was so hooked on gambling he played up to 1,000 hands of video poker in a single hour – at a cost of $100,000.

Stephen Paddock bet the colossal sums by playing $125 a time hands at ‘ferocious’ speeds for eight hour stints in casinos on The Strip and in Reno.

Top video poker players told DailyMail.com that players like Paddock look like ‘stenographers’ on the machines because their fingers move so fast.

They had seen Paddock at exclusive VIP tournaments in Las Vegas where he won and lost six-figure sums.

The players described him was a ‘low level high roller’ but he still would have got perks like free limousine rides and $10,000 of free money to play with.

Drinking concern: Gamblers say they saw Stephen Paddock playing video poker with a 'constant stream of booze' by his side when he was a guest at VIP tournaments

Drinking concern: Gamblers say they saw Stephen Paddock playing video poker with a ‘constant stream of booze’ by his side when he was a guest at VIP tournaments

Fast and furious: These are the video poker machines which allowed Paddock to gamble stakes of up to $100,000 in an hour by playing multiple hands at once

Crack cocaine: A review in the late 1990s compared the machines to the most addictive drugs but they also offer some of the best odds of coming out even, experts say

Crack cocaine: A review in the late 1990s compared the machines to the most addictive drugs but they also offer some of the best odds of coming out even, experts say

Paddock’s girlfriend Marilou Danley was taken on all-expenses paid shopping trips and they would have stayed in expensive hotel suites for free.

DailyMail.com can also disclose that other high rollers were concerned about Paddock drinking a ‘constant stream of booze’ whilst he was playing.

They described him as a ‘heavy, heavy drinker’ and wondered if his high alcohol intake contributed to his mental deterioration.

Paddock shot dead 58 people and injured more than 500 on Sunday when he opened fire on a music festival from his suite on the 32nd floor of the Mandalay Bay casino before shooting himself dead.

The FBI are no closer to understanding the motive of a man who his brother Eric described as ‘just a guy’.

But what is clear is that the 64-year-old had a passion for gambling which he indulged in his retirement with the estimated $2 million fortune he had built up through a real estate business.

Friends have said that Paddock, a former accountant and auditor, developed what he thought was an algorithm which would let him beat the system at video poker.

Anthony Curtis, a former professional gambler and currently the owner and publisher of Las Vegas Advisor, a website covering the casino business, told DailyMail.com that Paddock was not a ‘whale’ in the casino world, meaning the very biggest spenders.

But he was a known quantity and would be seen at invite-only tournaments where players would compete for $50,000 cash prizes.

Curtis said that according to players in Vegas he knows, Paddock ‘gambled big, he really did’, but he was not sociable.

He said: ‘Nobody knew him, that was the weirdest thing

‘People I know only knew of him, they didn’t know him. He wasn’t friendly but wasn’t unfriendly.’

If anything stood out it was Paddock’s drinking, said Curtis, who is a consultant for the Alea Consulting Group, which represents gambling experts.

He said: ‘He was a heavy drinker, heavy drinker, that’s what I heard… some people thought he was a pure alcoholic. He had a constant stream of booze coming his way’.

Curtis said that video poker players he knew told him that Paddock played $25 a hand machines where you can put in five bets at one time, bringing the stake for each game up to $125.

Players at his level would be playing at 800 to 1,000 hands an hour, or one every 3.6 seconds – Curtis said he and his former playing friends used to time each other to see who was fastest.

Players have to go quickly to improve their likelihood of getting hands like a royal flush which come on average every 40,000 hands and might earn $50,000 on a $125 wager.

Red carpet welcome: As a VIP gambler, Paddock was given a warm welcome with 'comps' which included room and board. Even bigger gamblers get private jets but Paddock was not a 'whale'

Red carpet welcome: As a VIP gambler, Paddock was given a warm welcome with ‘comps’ which included room and board. Even bigger gamblers get private jets but Paddock was not a ‘whale’

Also benefited: VIP poker invitations come with free shopping sprees for partners as well as meals and hotel rooms 'comped'

Also benefited: VIP poker invitations come with free shopping sprees for partners as well as meals and hotel rooms ‘comped’

In a game of video poker the player is up against just the machine and not a human dealer and each hand is dealt from a new 52-card virtual deck.

By working out the probabilities of hands players, can beat the house and at the Mandalay Bay video poker machines pay out a maximum of 99.17 percent, or $99.17 for every $100 wagered.

By the time you add in the perks, or ‘comps’, short for complimentary, they are more than breaking even.

For the highest rollers, they are treated like rock stars and essentially get anything they want, be it front row tickets to a concert, Super Bowl tickets and a Lear Jet to take them wherever they want.

Even at the lowest level of such tournaments they will get ‘full RFB’, meaning room, food and board. The presence of the amblers helps build the casino’s image.

Michael Shackleford, a former professional actuary and video poker player who now has a career analyzing casino games, said: ‘The low level players will get free low end meals, buffets, maybe free rooms midweek

‘As you get up they’ve going to treat you to the better restaurants, better rooms, free tournaments, free airfare, free transportation.

‘The way the casinos look at it is every player has a particular value.

‘If you have a player who is losing $1m a trip, the casino will give him $300,000 worth of stuff just for coming in.

‘They don’t like to give you money, they prefer to do it in the form of comps. In Vegas it’s fiercely competitive for the big players, they often negotiate to get the best offer.’

Shackleford said that video poker players tended to be smart, disciplined and patient.

He said that you have to be able to sit down at the machine and play it for hours at speed but if you press one button wrong it could cost you two hours in value to play.

He said: ‘It’s a very volatile game and if you’re going to be playing it professionally.

‘You go up and down like a roller coaster. You need nerves of steel to keep playing in the bad times.’

Shackleford himself used to lose $25,000 in a single day – but once won $40,000 when he got a royal flush.

Expert: Bob Dancer made $1 million from video poker but warns: 'There are a lot lot lot lot more net losers than there are net winners.'

Expert: Bob Dancer made $1 million from video poker but warns: ‘There are a lot lot lot lot more net losers than there are net winners.’

He said: ‘In the long run I can say it’s averaged out and my results are where they should be.

‘You just say you have to believe in the math, it doesn’t matter if you win or lose, it matters if you had a good bet and treat it like a job’.

Shackleford’s assessment of Paddock echoed that of the other experts; he was not a professional but had clearly studied how to win and had some ability.

He said: ‘I think he was a smart recreational gambler who saw it as a way to have a free vacation. That’s my impression of the guy.’

Curtis said: ‘Think about this; if you want to go to an NFL game you have to pay for a personal seat. It can cost tens of thousands of dollars just to see your team play.

‘What’s the difference between that and what he was doing? He was paying for entertainment – that’s how I see the whole thing.’

Video poker was described by the National Gambling Impact Study Commission in the late 1990s as being the ‘crack-cocaine’ of gambling because it is so addictive.

Reports have said that those who are most addicted have brain disorders similar to drug addicts.

Among the infamous cases of video poker players is San Diego’s former mayor Maureen O’Connor.

She took $2 million from the foundation set up for her dead husband, bet a cumulative total of more than $1 billion at casinos on a wild spree of wins and losses – and ended up owing $13 million.

Players are drawn to the game because of odds which are better than most other casino games.

John Grochowski, a longtime gambling columnist and author, said that the average person can get the a handle of playing video poker in a month using books and programs that are widely available.

But he doubted that it was possible to win consistently at a high level and said that Paddock would have been ‘deluded’ if he thought he had a system that would beat the house.

He said: ‘You need either to be in a position where the money just doesn’t matter and you want the thrill to gamble.

‘If you’re really trying to make money at this and you’re fooling yourself into thinking you can make money at this you need to think you’re smarter than you really are.

‘You have to go in absolute convinced your system works and stick with it in the bad times and roll with the losses and unfortunately most people can’t really roll with losses at that level.

‘Discipline is the key. You need to stay within your own bankroll, don’t bet money you can’t afford to lose.

‘For some people video poker is the crack cocaine of gambling, it’s certainly engaging, it’s interactive and it will hold your attention.

‘For a certain personality that may be true but there also may be personalities who are going to stay within their limits and stay within what they can afford’.

Few have been more successful at video poker than Bob Dancer, an expert and author of 10 books on the subject.

Dancer has made more than a million dollars playing video poker for 20 years using strategies he developed himself.

The bulk of his winnings was in the late 1990s and early 2000s including one 12-month stretch where he and his ex-wife Shirley would go on a $100,000 losing streak – then make $70,000 back.

In February 2001 at the MGM Grand in Vegas he made $100,000 on a royal flush within 15 minutes of playing and less than half an hour later Shirley won $400,000 with the same hand on a different machine.

Dancer said that it was possible to make a living being a professional video poker player. He said that the key factor was who had the advantage; him or the casino.

Back in the 1990s the describes the casinos as ‘mathematically challenged’ and he was able to work out his winnings faster than they could, giving him the advantage.

He describes the feeling after winning a big payout as being ‘bulletproof’ and that ‘you think it’s because you’re smart’.

When faced with a big loss he shrugged it off because he was sure that over time it would even out, but Shirley found it harder.

Dancer said: ‘Shirley was scared of the swings and every time we lost she would get all tense up and we had a masseuse on retainer for her.

‘We’d lose $30,000 in a night and she’d think that was an automobile and it would be extremely traumatic than her.

‘She could deal with the wins but the losses –  I shrugged them off – she took them really personal and really hard.’

As for Paddock, Dancer said: ‘I never met Mr Paddock. I never heard his name before he was dead.

‘I do not know if he was a successful player or not.

‘It’s clear he hit some jackpots at some times. Whether he was a net winner or a net loser I have no idea.’

He added: ‘There are a lot, lot, lot, lot more net losers than there are net winners.’

http://www.dailymail.co.uk/news/article-4951890/Vegas-shooter-drank-non-stop-gambled-100-000-hour.html#ixzz4ughzDMfF

 

Vegas Shooter’s Girlfriend Says He Would Lie in Bed Moaning, Screaming

WASHINGTON — Marilou Danley, the woman investigators hoped would provide key details into the motive behind her boyfriend’s deadly shooting attack, said she remembers him exhibiting symptoms such as lying in bed and moaning, according to two former FBI officials who have been briefed on the matter.

“She said he would lie in bed, just moaning and screaming, ‘Oh, my God,'” one of the former officials said.

The other former official said Danley spoke about Paddock displaying “mental health symptoms.”

Las Vegas Shooter’s Mental
Distress 1:28

Investigators believe Stephen Paddock, who claimed nearly 60 lives and injured hundreds more in Las Vegas on Sunday, may have been in physical or mental anguish, the sources said.

Related: Las Vegas Gunman’s Girlfriend Marilou Danley Says She Had No Idea

But so far the FBI has not identified a clear motive, said two FBI officials. And they do not believe Paddock’s mental health had deteriorated to a point that would have triggered him to commit such an act.

Image: Stephen Paddock
Stephen Paddock.U.S. government / via NBC News

Other lines of inquiry the FBI and Las Vegas police are investigating include what Paddock did in the hour between shooting a security guard and his room being breached by officers. Paddock was found dead after a SWAT team breached his door, but it is unclear when he took his own life.

Investigators are also examining approximately six media devices left behind by Paddock, one of the former officials said. Included in that search is an inquiry into Paddock’s web browsing history. Multiple law enforcement officials told NBC News that Paddock researched other attack locations in Boston and Chicago.

Danley’s lawyer did not immediately respond to a request for comment.

https://www.nbcnews.com/storyline/las-vegas-shooting/trump-holds-fate-rapid-fire-bump-stocks-n808176

Every mass shooting over last 20 years has one thing in common… and it’s not guns

Tuesday, April 02, 2013
by Mike Adams, the Health Ranger
Editor of NaturalNews.com (See all articles…)
Tags: mass shootingspsychiatric drugsantidepressants
Mass shootings

(NaturalNews) The following is a republishing of an important article written by Dan Roberts from AmmoLand.com. It reveals the real truth about mass shootings that bureaucrats and lawmakers are choosing to sweep under the rug: psychiatric drugs. If you want to know the real reason why mass shootings are taking place, this is the “inconvenient truth” the media won’t cover.

As part of a collective grassroots effort to defend the Bill of Rights against usurpers and tyrants, Natural News is republishing this article without asking for permission first. When it comes to fighting tyrants and defending liberty, the unstated agreement across the entire liberty-loving grassroots community is, “Use our articles; help spread the word!” Every article I write here on Natural News, for example, may be reprinted with credit and a link back to the original source article on NaturalNews.com.

Here’s the full article by Dan Roberts:

(Ammoland.com) Nearly every mass shooting incident in the last twenty years, and multiple other instances of suicide and isolated shootings all share one thing in common, and it’s not the weapons used.

The overwhelming evidence points to the signal largest common factor in all of these incidents is the fact that all of the perpetrators were either actively taking powerful psychotropic drugs or had been at some point in the immediate past before they committed their crimes.

Multiple credible scientific studies going back more than a decade, as well as internal documents from certain pharmaceutical companies that suppressed the information show that SSRI drugs ( Selective Serotonin Re-Uptake Inhibitors ) have well known, but unreported side effects, including but not limited to suicide and other violent behavior. One need only Google relevant key words or phrases to see for themselves. www.ssristories.com is one popular site that has documented over 4500 ” Mainstream Media ” reported cases from around the World of aberrant or violent behavior by those taking these powerful drugs.

The following list of mass shooting perpetrators and the drugs they were taking or had been taking shortly before their horrific actions was compiled and published to Facebook by John Noveske, founder and owner of Noveske Rifleworks just days before he was mysteriously killed in a single car accident. Is there a link between Noveske’s death and his “outting” of information numerous disparate parties would prefer to suppress, for a variety of reasons?

I leave that to the individual readers to decide. But there is most certainly a documented history of people who “knew too much” or were considered a “threat” dying under extraordinarily suspicious circumstances.

From Katherine Smith, a Tennessee DMV worker who was somehow involved with several 9/11 hijackers obtaining Tennessee Drivers Licenses, and was later found burned to death in her car, to Pulitzer Prize winning journalist Gary Webb, who exposed a CIA Operation in the 80’s that resulted in the flooding of LA Streets with crack cocaine and was later found dead from two gunshot wounds to the head, but was officially ruled as a “suicide”, to Frank Olson, a senior research micro biologist who was working on the CIA’s mind control research program MKULTRA.

After Olson expressed his desire to leave the program, he was with a CIA agent in a New York hotel room, and is alleged to have committed “suicide” by throwing himself off the tenth floor balcony. In 1994, Olson’s sons were successful in their efforts to have their fathers body exhumed and re examined in a second autopsy by James Starrs, Professor of Law and Forensic science at the National Law Center at George Washington University. Starr’s team concluded that the blunt force trauma to the head and injury to the chest had not occurred during the fall but most likely in the room before the fall. The evidence was called “rankly and starkly suggestive of homicide.” Based on his findings, in 1996 the Manhattan District Attorney opened a homicide investigation into Olson’s death, but was unable to find enough evidence to bring charges.

As I said, I leave it to the individual readers to make up their own minds if Noveske suffered a similar fate. On to the list of mass shooters and the stark link to psychotropic drugs.

• Eric Harris age 17 (first on Zoloft then Luvox) and Dylan Klebold aged 18 (Columbine school shooting in Littleton, Colorado), killed 12 students and 1 teacher, and wounded 23 others, before killing themselves. Klebold’s medical records have never been made available to the public.

• Jeff Weise, age 16, had been prescribed 60 mg/day of Prozac (three times the average starting dose for adults!) when he shot his grandfather, his grandfather’s girlfriend and many fellow students at Red Lake, Minnesota. He then shot himself. 10 dead, 12 wounded.

• Cory Baadsgaard, age 16, Wahluke (Washington state) High School, was on Paxil (which caused him to have hallucinations) when he took a rifle to his high school and held 23 classmates hostage. He has no memory of the event.

• Chris Fetters, age 13, killed his favorite aunt while taking Prozac.

• Christopher Pittman, age 12, murdered both his grandparents while taking Zoloft.

• Mathew Miller, age 13, hung himself in his bedroom closet after taking Zoloft for 6 days.

• Kip Kinkel, age 15, (on Prozac and Ritalin) shot his parents while they slept then went to school and opened fire killing 2 classmates and injuring 22 shortly after beginning Prozac treatment.

• Luke Woodham, age 16 (Prozac) killed his mother and then killed two students, wounding six others.

• A boy in Pocatello, ID (Zoloft) in 1998 had a Zoloft-induced seizure that caused an armed stand off at his school.

• Michael Carneal (Ritalin), age 14, opened fire on students at a high school prayer meeting in West Paducah, Kentucky. Three teenagers were killed, five others were wounded..

• A young man in Huntsville, Alabama (Ritalin) went psychotic chopping up his parents with an ax and also killing one sibling and almost murdering another.

• Andrew Golden, age 11, (Ritalin) and Mitchell Johnson, aged 14, (Ritalin) shot 15 people, killing four students, one teacher, and wounding 10 others.

• TJ Solomon, age 15, (Ritalin) high school student in Conyers, Georgia opened fire on and wounded six of his class mates.

• Rod Mathews, age 14, (Ritalin) beat a classmate to death with a bat.

• James Wilson, age 19, (various psychiatric drugs) from Breenwood, South Carolina, took a .22 caliber revolver into an elementary school killing two young girls, and wounding seven other children and two teachers.

• Elizabeth Bush, age 13, (Paxil) was responsible for a school shooting in Pennsylvania

• Jason Hoffman (Effexor and Celexa) – school shooting in El Cajon, California

• Jarred Viktor, age 15, (Paxil), after five days on Paxil he stabbed his grandmother 61 times.

• Chris Shanahan, age 15 (Paxil) in Rigby, ID who out of the blue killed a woman.

• Jeff Franklin (Prozac and Ritalin), Huntsville, AL, killed his parents as they came home from work using a sledge hammer, hatchet, butcher knife and mechanic’s file, then attacked his younger brothers and sister.

• Neal Furrow (Prozac) in LA Jewish school shooting reported to have been court-ordered to be on Prozac along with several other medications.

• Kevin Rider, age 14, was withdrawing from Prozac when he died from a gunshot wound to his head. Initially it was ruled a suicide, but two years later, the investigation into his death was opened as a possible homicide. The prime suspect, also age 14, had been taking Zoloft and other SSRI antidepressants.

• Alex Kim, age 13, hung himself shortly after his Lexapro prescription had been doubled.

• Diane Routhier was prescribed Welbutrin for gallstone problems. Six days later, after suffering many adverse effects of the drug, she shot herself.

• Billy Willkomm, an accomplished wrestler and a University of Florida student, was prescribed Prozac at the age of 17. His family found him dead of suicide – hanging from a tall ladder at the family’s Gulf Shore Boulevard home in July 2002.

• Kara Jaye Anne Fuller-Otter, age 12, was on Paxil when she hung herself from a hook in her closet. Kara’s parents said “…. the damn doctor wouldn’t take her off it and I asked him to when we went in on the second visit. I told him I thought she was having some sort of reaction to Paxil…”)

• Gareth Christian, Vancouver, age 18, was on Paxil when he committed suicide in 2002, (Gareth’s father could not accept his son’s death and killed himself.)

• Julie Woodward, age 17, was on Zoloft when she hung herself in her family’s detached garage.

• Matthew Miller was 13 when he saw a psychiatrist because he was having difficulty at school. The psychiatrist gave him samples of Zoloft. Seven days later his mother found him dead, hanging by a belt from a laundry hook in his closet.

• Kurt Danysh, age 18, and on Prozac, killed his father with a shotgun. He is now behind prison bars, and writes letters, trying to warn the world that SSRI drugs can kill.

• Woody __, age 37, committed suicide while in his 5th week of taking Zoloft. Shortly before his death his physician suggested doubling the dose of the drug. He had seen his physician only for insomnia. He had never been depressed, nor did he have any history of any mental illness symptoms.

• A boy from Houston, age 10, shot and killed his father after his Prozac dosage was increased.

• Hammad Memon, age 15, shot and killed a fellow middle school student. He had been diagnosed with ADHD and depression and was taking Zoloft and “other drugs for the conditions.”

• Matti Saari, a 22-year-old culinary student, shot and killed 9 students and a teacher, and wounded another student, before killing himself. Saari was taking an SSRI and a benzodiazapine.

• Steven Kazmierczak, age 27, shot and killed five people and wounded 21 others before killing himself in a Northern Illinois University auditorium. According to his girlfriend, he had recently been taking Prozac, Xanax and Ambien. Toxicology results showed that he still had trace amounts of Xanax in his system.

• Finnish gunman Pekka-Eric Auvinen, age 18, had been taking antidepressants before he killed eight people and wounded a dozen more at Jokela High School – then he committed suicide.

• Asa Coon from Cleveland, age 14, shot and wounded four before taking his own life. Court records show Coon was on Trazodone.

• Jon Romano, age 16, on medication for depression, fired a shotgun at a teacher in his New York high school.

Missing from list… 3 of 4 known to have taken these same meds….

• What drugs was Jared Lee Loughner on, age 21…… killed 6 people and injuring 14 others in Tuscon, Az?

• What drugs was James Eagan Holmes on, age 24….. killed 12 people and injuring 59 others in Aurora Colorado?

• What drugs was Jacob Tyler Roberts on, age 22, killed 2 injured 1, Clackamas Or?

• What drugs was Adam Peter Lanza on, age 20, Killed 26 and wounded 2 in Newtown Ct?

Those focusing on further firearms bans or magazine restrictions are clearly focusing on the wrong issue and asking the wrong questions, either as a deliberate attempt to hide these links, or out of complete and utter ignorance.

Don’t let them! Force our elected “representatives” and the media to cast a harsh spotlight on this issue. Don’t stop hounding them until they do.

About Dan Roberts
Dan Roberts is a grassroots supporter of gun rights that has chosen AmmoLand Shooting Sports News as the perfect outlet for his frank, ‘Jersey Attitude’ filled articles on Guns and Gun Owner Rights. As a resident of the oppressive state of New Jersey he is well placed to be able to discuss the abuses of government against our inalienable rights to keep and bear arms as he writes from deep behind NJ’s Anti-Gun iron curtain. Read more from Dan Robertsor email him at DRoberts@ammoland.com You can also find him on Facebook: http://www.facebook.com/dan.roberts.18

Story 2: House of Representatives Passed Budget Blueprint — $600 Billion Plus Budget Deficit and Unbalanced Budgets — A Blueprint of Financial Irresponsibility By Burdening Current and Future Generations With Massive Debt — Replace Big Government Two Party Tyranny, Oppression and Empire with A Limited Government Representative Republic As The Founders Envisioned Under The Constitution –Videos

Building a Better America Budget

Building a Better America
A PLAN FOR FISCAL RESPONSIBILITY

For years, House Republicans have made a commitment to balance the budget. With our national debt and deficits continuing to increase at an unsustainable rate, the time to take action is now. We no longer have the option to shy away from our responsibility to promote a fiscal path that helps create prosperity and ensures opportunity for future generations.

Our budget, Building A Better America, balances within 10 years. For too long, the federal government’s excessive spending has put future generations at risk. Massive tax increases or crippling austerity measures are the natural conclusion of our current rate of spending, and future generations will pay the price. Failure to take swift and decisive action is not only inexcusable, it is immoral.

Some will disagree with our budget, but the status quo is unacceptable. Our budget is one of sustainability, smaller government, stronger national security, and greater freedom for individuals. The status quo is unsustainable spending, higher deficits and debt, higher taxes, bigger government, and more federal control over the lives of Americans.
We have a better way.

Page 4
4
BUILDING A BETTER AMERICA | A Plan for Fiscal Responsibility
In past years, the budget resolution passed by this committee has been a statement of principles – a vision for a long-term fiscal path to sustainability and prosperity. This year is different. The budget resolution is no longer a theoretical outline with little chance of implementation. It is the major governing document of the 115th Congress, and it is the concrete fulfillment of our promise to the American people.

To achieve these goals, our budget resolution provides a path that will require subsequent legislation. But this Congress is committed to following through on our promises.
Building a Better America achieves the goals we have laid out this year and in past Congresses. The fiscal year 2018 budget resolution:
 Develops a Sustainable Spending Path by Balancing in 10 Years
oThe budget deficit and our national debt are impediments to greater prosperity and a threat to the security of future generations. This committee’s budget balances in 10
years and reforms government programs to put us on a sustainable spending path.
 Promotes Economic Growth
o For the last eight years, government has hindered economic growth. That will no longer be the case. Our budget calls for reducing burdensome regulations, and it suggests keyreforms to our tax code and government programs that will help unleash the potential of the American economy.

 Strengthens Our National Defense

There is no greater task for the federal government than to protect its citizens and the
homeland. This committee’s budget increases funding for our military and provides
significant resources for our homeland security, including protecting our borders.

Returns Power Back to the States
Our budget calls for returning significant authority to the states, which have both the ability and the will to reform and modernize programs that serve their citizens. The laboratories of democracy, not the federal government, are where these reforms should happen.
 Reforms and Strengthens Government Programs While Improving Accountability
o Hardworking Americans earn every tax dollar that the federal government collects.
Responsible stewardship of taxpayer dollars is a fundamental tenet of our budget
resolution. At every opportunity possible, our budget encourages reforms of
government programs and improves accountability, while generating better outcomes
for Americans.

The budget process will be difficult, but we were elected by the American people to meet these challenges head-on. Building a Better America sets us on a sustainable fiscal path, promotes our security, and encourages prosperity.
This is our opportunity to fulfill the promises we made to the American people. We cannot afford to let this moment pass.

https://budget.house.gov/wp-content/uploads/2017/07/Building-a-Better-America-PDF-2.pdf

Budget Blueprint: Build-A-Better America

https://budget.house.gov/wp-content/uploads/2017/07/Building-a-Better-America-PDF-2.pdf

House Passes Budget Blueprint, Taking Step Toward Tax Overhaul

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Shows 977-978

Listen To Pronk Pops Podcast or Download Shows 970-976

Listen To Pronk Pops Podcast or Download Shows 963-969

Listen To Pronk Pops Podcast or Download Shows 955-962

Listen To Pronk Pops Podcast or Download Shows 946-954

Listen To Pronk Pops Podcast or Download Shows 938-945

Listen To Pronk Pops Podcast or Download Shows 926-937

Listen To Pronk Pops Podcast or Download Shows 916-925

Listen To Pronk Pops Podcast or Download Shows 906-915

Listen To Pronk Pops Podcast or Download Shows 889-896

Listen To Pronk Pops Podcast or Download Shows 884-888

Listen To Pronk Pops Podcast or Download Shows 878-883

Listen To Pronk Pops Podcast or Download Shows 870-877

Listen To Pronk Pops Podcast or Download Shows 864-869

Listen To Pronk Pops Podcast or Download Shows 857-863

Listen To Pronk Pops Podcast or Download Shows 850-856

Listen To Pronk Pops Podcast or Download Shows 845-849

Listen To Pronk Pops Podcast or Download Shows 840-844

Listen To Pronk Pops Podcast or Download Shows 833-839

Listen To Pronk Pops Podcast or Download Shows 827-832

Listen To Pronk Pops Podcast or Download Shows 821-826

Listen To Pronk Pops Podcast or Download Shows 815-820

Listen To Pronk Pops Podcast or Download Shows 806-814

Listen To Pronk Pops Podcast or Download Shows 800-805

Listen To Pronk Pops Podcast or Download Shows 793-799

Listen To Pronk Pops Podcast or Download Shows 785-792

Listen To Pronk Pops Podcast or Download Shows 777-784

Listen To Pronk Pops Podcast or Download Shows 769-776

Listen To Pronk Pops Podcast or Download Shows 759-768

Listen To Pronk Pops Podcast or Download Shows 751-758

Listen To Pronk Pops Podcast or Download Shows 745-750

Listen To Pronk Pops Podcast or Download Shows 738-744

Listen To Pronk Pops Podcast or Download Shows 732-737

Listen To Pronk Pops Podcast or Download Shows 727-731

Listen To Pronk Pops Podcast or Download Shows 720-726

Listen To Pronk Pops Podcast or DownloadShows 713-719

Listen To Pronk Pops Podcast or DownloadShows 705-712

Listen To Pronk Pops Podcast or Download Shows 695-704

Listen To Pronk Pops Podcast or Download Shows 685-694

Listen To Pronk Pops Podcast or Download Shows 675-684

Listen To Pronk Pops Podcast or Download Shows 668-674

Listen To Pronk Pops Podcast or Download Shows 660-667

Listen To Pronk Pops Podcast or Download Shows 651-659

Listen To Pronk Pops Podcast or Download Shows 644-650

Listen To Pronk Pops Podcast or Download Shows 637-643

Listen To Pronk Pops Podcast or Download Shows 629-636

Listen To Pronk Pops Podcast or Download Shows 617-628

Listen To Pronk Pops Podcast or Download Shows 608-616

Listen To Pronk Pops Podcast or Download Shows 599-607

Listen To Pronk Pops Podcast or Download Shows 590-598

Listen To Pronk Pops Podcast or Download Shows 585- 589

Listen To Pronk Pops Podcast or Download Shows 575-584

Listen To Pronk Pops Podcast or Download Shows 565-574

Listen To Pronk Pops Podcast or Download Shows 556-564

Listen To Pronk Pops Podcast or Download Shows 546-555

Listen To Pronk Pops Podcast or Download Shows 538-545

Listen To Pronk Pops Podcast or Download Shows 532-537

Listen To Pronk Pops Podcast or Download Shows 526-531

Listen To Pronk Pops Podcast or Download Shows 519-525

Listen To Pronk Pops Podcast or Download Shows 510-518

Listen To Pronk Pops Podcast or Download Shows 500-509

Listen To Pronk Pops Podcast or Download Shows 490-499

Listen To Pronk Pops Podcast or Download Shows 480-489

Listen To Pronk Pops Podcast or Download Shows 473-479

Listen To Pronk Pops Podcast or Download Shows 464-472

Listen To Pronk Pops Podcast or Download Shows 455-463

Listen To Pronk Pops Podcast or Download Shows 447-454

Listen To Pronk Pops Podcast or Download Shows 439-446

Listen To Pronk Pops Podcast or Download Shows 431-438

Listen To Pronk Pops Podcast or Download Shows 422-430

Listen To Pronk Pops Podcast or Download Shows 414-421

Listen To Pronk Pops Podcast or Download Shows 408-413

Listen To Pronk Pops Podcast or Download Shows 400-407

Listen To Pronk Pops Podcast or Download Shows 391-399

Listen To Pronk Pops Podcast or Download Shows 383-390

Listen To Pronk Pops Podcast or Download Shows 376-382

Listen To Pronk Pops Podcast or Download Shows 369-375

Listen To Pronk Pops Podcast or Download Shows 360-368

Listen To Pronk Pops Podcast or Download Shows 354-359

Listen To Pronk Pops Podcast or Download Shows 346-353

Listen To Pronk Pops Podcast or Download Shows 338-345

Listen To Pronk Pops Podcast or Download Shows 328-337

Listen To Pronk Pops Podcast or Download Shows 319-327

Listen To Pronk Pops Podcast or Download Shows 307-318

Listen To Pronk Pops Podcast or Download Shows 296-306

Listen To Pronk Pops Podcast or Download Shows 287-295

Listen To Pronk Pops Podcast or Download Shows 277-286

Listen To Pronk Pops Podcast or Download Shows 264-276

Listen To Pronk Pops Podcast or Download Shows 250-263

Listen To Pronk Pops Podcast or Download Shows 236-249

Listen To Pronk Pops Podcast or Download Shows 222-235

Listen To Pronk Pops Podcast or Download Shows 211-221

Listen To Pronk Pops Podcast or Download Shows 202-210

Listen To Pronk Pops Podcast or Download Shows 194-201

Listen To Pronk Pops Podcast or Download Shows 184-193

Listen To Pronk Pops Podcast or Download Shows 174-183

Listen To Pronk Pops Podcast or Download Shows 165-173

Listen To Pronk Pops Podcast or Download Shows 158-164

Listen To Pronk Pops Podcast or Download Shows 151-157

Listen To Pronk Pops Podcast or Download Shows 143-150

Listen To Pronk Pops Podcast or Download Shows 135-142

Listen To Pronk Pops Podcast or Download Shows 131-134

Listen To Pronk Pops Podcast or Download Shows 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Show 93

Listen To Pronk Pops Podcast or Download Show 92

Listen To Pronk Pops Podcast or Download Show 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

 

Advertisements
Read Full Post | Make a Comment ( None so far )

The Pronk Pops Show 975, September 29, 2017, Part 3 of 3,  Story 1: The Tiny Timid Trump Tax Reform Resembles Liberal Democratic Party Proposals vs. Fair Tax Less Would Replace All Federal Taxes With A Single Consumption Tax On What You Buy Not What You Earn With A Generous Tax Prebate and Future Government Spending Limited To 90% of Fair Tax Less Revenues — Affordable, Effective, Efficient, Fair, Reasonable, Simple, and Transparent With Progressive Effective Rates Due To A Generous Monthly $1,000 Per Month or $12,000 Per Year Tax Prebate For All Adult American Citizens — American Friendly Not Revenue Neutral — Balanced Budgets With Real Spending Cuts and No More Budget Deficits — Booming Economy With Jobs, Jobs, and Jobs — The Time Is Now or Never For Fair Tax Less — Videos — Story 2: Secretary of Health and Human Resources Thomas Price Resigns and President Trump Accepts After Trump Outraged Over Use Expensive Private Chartered Jet Flight To Conduct Government Business — Don Wright to serve as acting secretary of the HHS — Videos —

Posted on September 30, 2017. Filed under: Addiction, Airlines, American History, Banking System, Blogroll, Breaking News, Budgetary Policy, Business, Cartoons, Comedy, Congress, Constitutional Law, Corruption, Countries, Crime, Culture, Defense Spending, Donald J. Trump, Donald J. Trump, Donald Trump, Economics, Education, Elections, Empires, Employment, First Amendment, Fiscal Policy, Foreign Policy, Former President Barack Obama, Fourth Amendment, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, Hate Speech, Health, Health Care Insurance, History, House of Representatives, Housing, Human, Human Behavior, Illegal Immigration, Immigration, Independence, Insurance, Investments, Language, Law, Legal Immigration, Life, Lying, Media, Medicare, News, People, Philosophy, Photos, Politics, Polls, President Trump, Pro Life, Public Relations, Raymond Thomas Pronk, Scandals, Second Amendment, Security, Senate, Social Security, Spying, Tax Policy, Taxation, Taxes, Technology, Transportation, U.S. Dollar, United States Constitution, United States of America, Videos, Violence, Wall Street Journal, War, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 975, September 29, 2017

Pronk Pops Show 974, September 28, 2017

Pronk Pops Show 973, September 27, 2017

Pronk Pops Show 972, September 26, 2017

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

Pronk Pops Show 955, August 30, 2017

Pronk Pops Show 954, August 29, 2017

Pronk Pops Show 953, August 28, 2017

Pronk Pops Show 952, August 25, 2017

Pronk Pops Show 951, August 24, 2017

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

Pronk Pops Show 939, August 2, 2017

Pronk Pops Show 938, August 1, 2017

Pronk Pops Show 937, July 31, 2017

Pronk Pops Show 936, July 27, 2017

Pronk Pops Show 935, July 26, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 933, July 24, 2017

Pronk Pops Show 932, July 20, 2017

Pronk Pops Show 931, July 19, 2017

Pronk Pops Show 930, July 18, 2017

Pronk Pops Show 929, July 17, 2017

Pronk Pops Show 928, July 13, 2017

Pronk Pops Show 927, July 12, 2017

Pronk Pops Show 926, July 11, 2017

Pronk Pops Show 925, July 10, 2017

Pronk Pops Show 924, July 6, 2017

Pronk Pops Show 923, July 5, 2017

Pronk Pops Show 922, July 3, 2017

Pronk Pops Show 921, June 29, 2017

Pronk Pops Show 920, June 28, 2017

Pronk Pops Show 919, June 27, 2017

Pronk Pops Show 918, June 26, 2017

Pronk Pops Show 917, June 22, 2017

Pronk Pops Show 916, June 21, 2017

Pronk Pops Show 915, June 20, 2017

Pronk Pops Show 914, June 19, 2017

Pronk Pops Show 913, June 16, 2017

Pronk Pops Show 912, June 15, 2017

Pronk Pops Show 911, June 14, 2017

Pronk Pops Show 910, June 13, 2017

Pronk Pops Show 909, June 12, 2017

Pronk Pops Show 908, June 9, 2017

Pronk Pops Show 907, June 8, 2017

Pronk Pops Show 906, June 7, 2017

Pronk Pops Show 905, June 6, 2017

Pronk Pops Show 904, June 5, 2017

Pronk Pops Show 903, June 1, 2017

Image result for Donald Trump Plan Tax BracketsImage result for trump's tax frameworkImage result for fairtax

Image result for cartoon's trump's tax frameworkImage result for trump's tax framework

Image result for HHS secretary resigns tom price resigns

Image result for fairtax

Image result for trump's new tax plan compared with current tax system

Corporations paying fewer taxes

 

Part 3 of 3,  Story 1: The Tiny Timid Trump Tax Reform Resembles Liberal Democratic Party Proposals vs. Fair Tax Less Would Replace All Federal Taxes With A Single Consumption Tax On What You Buy Not What You Earn With A Generous Tax Prebate and Future Government Spending Limited To 90% of Fair Tax Less Revenues — Affordable, Effective, Efficient, Fair, Reasonable, Simple, and Transparent With Progressive Effective Rates Due To A Generous Monthly $1,000 Per Month or $12,000 Per Year Tax Prebate For All Adult American Citizens — American Friendly Not Revenue Neutral — Balanced Budgets With Real Spending Cuts and No More Budget Deficits — Booming Economy With Jobs, Jobs, and Jobs — The Time Is Now or Never For Fair Tax Less — Videos


The American People Want The FairTax and

The New Improved Version — Fair Tax Less

Demand Fair Tax Less From Your Elected Representatives and President Trump

FairTax: Fire Up Our Economic Engine (Official HD)

Image result for Fair Tax Replaces


Inside the GOP’s tax blueprint

Mulvaney: Impossible to say tax benefit to rich – NEWS TODAY

Mick Mulvaney defends Trump’s Puerto Rico response, tax plan

Treasury secretary on Trump administration’s new tax plan

“IT WOULD BE LIKE HOUDINI!!!” Chuck Todd’s BRILLIANT Takedown of Trump Lackey Steven Mnuchin |News

Newt Gingrich with Martha MacCallum on Donald Trump Tax Reform Plan. #NewtGingrich #TaxReform #POTUS

LIMBAUGH: Trump’s Tax Plan Is NOT A Tax Break For The Rich

Middle Class Will ‘Get Nothing’ In Tax Proposal: Steve Rattner | Morning Joe | MSNBC

What Democrats don’t like about Trump’s tax reform plan

Milton Friedman – Why Tax Reform Is Impossible

🔴 Ep. 287: Pros and Cons of the Trump Tax Plan

Trump pitches tax reform plan to manufacturers

Sen. John Kennedy on Tax Reform

Speaker Ryan Previews Unified Framework for Tax Reform

Trump pushes first tax overhaul since President Reagan

Trump tax reform is very pro-growth: Norquist

Who wins and loses in the GOP’s proposed tax overhaul

President Trump Unveils STUNNING Tax Plan | Full Speech 9/27/17

President Donald Trump unveils his ‘middle class miracle’, a stunning tax plan with three brackets, zero tax on couples’ first $24,000 and a massive corporate rate slash. ‘The largest tax cut in American History.’ MAGA 🇺🇸

Milton Friedman – Is tax reform possible?

Ep. 287: Pros and Cons of the Trump Tax Plan

What Trump’s tax plan could mean for workers and businesses

Trump’s tax plan mirrors Ronald Reagan’s

PRESIDENT TRUMP UNVEILS SWEEPING TAX PLAN

Chuck Schumer SLAMS Trump’s New Tax Reform Plan on his Press Conference 9/27/2017

Inside Politics 09/27/17: TRUMP TAX PLAN COULD COST $5 TRILLION

Rush Limbaugh 09/27/2017 | Trump tax plan isn’t conservative, it’s populist, raises taxes on rich

Hannity: Trump’s tax plan is designed to grow the economy

Analyzing President Trump’s tax plan

Trump Unveils Tax Plan: It’s Mostly Good

Gordon Gray discusses President Trump’s tax plan details jpg

Will Trump’s tax plan deliver the goods on jobs?

What to expect from Trump’s tax plan

Trump Tax Reform Explained

David Stockman: We are heading into an absolute fiscal bloodbath

Keiser Report: America’s Falling Apart (E1123)

$20 Trillion: U.S. Debt Crisis | Peter Schiff and Stefan Molyneux

U.S. Debt Clock

http://www.usdebtclock.org/

Trump’s tax cuts won’t pay for themselves: David Stockman

Congress not likely to tackle tax reform without spending cuts?

Milton Friedman – Why Tax Reform Is Impossible

When Did America Stop Caring About Anything Critical?

When Did America Stop Caring About Anything Critical?

Revenue Neutral

Sen. McConnell to soften on revenue-neutral tax plan: Gasparino

McConnell Seeks Revenue-Neutral Tax Reform This Congress

Rand Paul’s Frustration with “Revenue Neutral” Tax Cuts!


The American People Want The FairTax 

Especially The New Improved Version — Fair Tax Less

Demand Fair Tax Less From Your Elected Representatives and President Trump

FairTax: Fire Up Our Economic Engine (Official HD)

FairTax: Fire Up Our Economic Engine (Official HD)

FairTax or Fair Tax Less — It Is Time

Bill Gates: Don’t tax my income, tax my consumption

Flat Tax vs. National Sales Tax

Why is the FairTax better than a flat income tax?

Freedom from the IRS! – FairTax Explained in Detail

Congressman Pence – FairTax and FlatTax

Pence on the Fair Tax

Congressman Woodall Discusses the FairTax

Rob Woodall Floor Speech: The FairTax will bring jobs back to America

Rep. Woodall Discusses FairTax with Colleagues on House Floor

The Fair Tax

Congressman King Speaks in Favor of FairTax

Rep. Woodall Discusses FairTax on House Floor

Sen. Moran Discusses FairTax Legislation on U.S. Senate Floor

Why is the FairTax better than other tax reform efforts?

AIRtax-What is It? Replaces income tax and payroll tax with sales tax

Why is the FairTax better than a flat income tax?

What is the FairTax legislation?

Does the FairTax protect privacy and other civil liberties?

How is the FairTax collected?

How does the FairTax affect the economy?

How does the FairTax impact interest rates?

Are any significant economies funded by a sales tax?

Is consumption a reliable source of revenue?

How will used goods be taxed?

What assumptions does the FairTax make about government spending?

Will the FairTax lead to a massive underground economy?

Can’t Americans just cross the border to avoid the FairTax

Will the FairTax drive the economy down if people stop buying?

How does the FairTax impact savings?

How does the FairTax impact the middle class?

How will the FairTax impact seniors?

How will Social Security payments be calculated under the FairTax?

How will the FairTax impact people who don’t file income taxes?

How will the FairTax help people who don’t hire an accountant?

How does the FairTax affect compliance costs?

How does the FairTax impact tax free bonds?

What will happen to cities who depend on tax free bonds?

What is the impact of the FairTax on business?

How does the FairTax impact retailers?

How does the FairTax affect tax preparers and CPAs?

Will the FairTax tax services?

Can I pretend to be a business to avoid the sales tax?

If people bring home their whole paychecks how can prices fall?

What is the Prebate?

How does the “prebate” work?

Is the FairTax truly progressive?

Wouldn’t it be more fair to exempt food and medicine from the FairTax?

How is the FairTax different from a Value Added Tax (VAT)?

Is it fair for rich people to get the same prebate as poor people?

Will the prebate create a massive new entitlement system?

How does the FairTax impact the middle class?

How do we keep exemptions and exclusions from undermining the FairTax?

How does the FairTax impact charitable giving?

Will the FairTax hurt home ownership with no mortgage interest deduction?

Will bartering present a compliance problem under the FairTax?

How does the FairTax affect illegal immigration?

How does the FairTax rate compare to today’s?

Wouldn’t it be more fair to exempt food and medicine from the FairTax?

Is education taxed under the FairTax?

Will government pay taxes under the FairTax?

How can you tax life saving medical treatment?

Will the FairTax hurt home ownership with no mortgage interest deduction?

What will the transition be like from the income tax to the FairTax?

Isn’t it a stretch to say the IRS will go away?

The Fair Tax – It’s Time

FairTax Prebate Explained

The FairTax… For a better America

Is the Fair Tax Act Fair?

Is America’s Tax System Fair?

Sen. Moran Discusses FairTax Legislation on U.S. Senate Floor

Pence on the Fair Tax

#30 The FAIRtax and President Elect Trump

Elvis Presley – It`s Now Or Never 1960

Elvis – It’s Now Or Never (O Sole Mio)

Elvis Presley – My Way (High Quality)

Frank Sinatra .My Way

Trump’s tax plan is ALREADY in trouble with his own party as plan to axe state and local tax deduction comes under fire from Republicans

  • The White House’s tax plan proposes to raise $1 trillion over 10 years by eliminating the deduction for the state and local income taxes people pay
  • That’s drawing howls of protest from Republicans whose states charge high income tax rates
  • Seven states have no income taxes, meaning their citizens wouldn’t be affected
  • But some states charge up to 13.3 per cent on top of federal taxes
  • A family in Los Angeles earning $100,000 would have to fork over roughly an additional $1,800 to Washington if the longstanding deduction goes away
  • Trump is pitching his tax plan to the National Association of Manufacturers on Friday 

As President Trump prepares to sell his tax plan to the nation’s manufacturing lobby on Friday, his best-laid tax plans have already drawn objections from some fellow Republicans who are fuming over the decision to end deductions for state and local income taxes.

The situation will pit the White House against members of Congress from states that pile high income taxes on top of what the federal government takes from paychecks.

High-income Californians, for instance, pay as much as 13.3 per cent of their income to the state in addition to their federal taxes. New Yorkers can pay up to 8.82 per cent.

Just seven U.S. states have no personal income taxes, including Texas, Florida and Nevada.

As President Trump pushes his tax plan, House Ways and Means chairman Kevin Brady (right) says he'll listen to congressmen from states that would be affected most if citizens lose deductions for state and local income taxes

As President Trump pushes his tax plan, House Ways and Means chairman Kevin Brady (right) says he’ll listen to congressmen from states that would be affected most if citizens lose deductions for state and local income taxes

State income tax rates vary widely; seven states (in gray) don't collect any, and the highest rates (dark blue) can go as high as 13.3 per cent

State income tax rates vary widely; seven states (in gray) don’t collect any, and the highest rates (dark blue) can go as high as 13.3 per cent

Under the Trump tax reform plan, a family earning $100,000 in Los Angeles pays about $6,000 in state and local income taxes. Losing the ability to deduct that expense would cost the hypothetical taxpayers around $1,800.

The GOP is working on a way to pacify legislators whose constituents would wind up paying more.

‘The members with concerns from high-tax states have to be accommodated,’ Illinois Republican Rep. Peter Roskam told The Wall Street Journal. Roskam is a senior member of the powerful House Ways and Means Committee.

‘So, you can imagine a soft landing on this that creative people are putting much time and energy into.’

The White House has shown no sign that it’s willing to budge on eliminating the deduction for state and local taxes since it would bring in about $1 trillion over a 10-year period.

With the prospect of persuading Democrats to go along with a new tax play already slim, the GOP will need every Republican vote it can get.

The Journal reports that the nine states whose citizens use the deduction, measured as a percentage of income, are represented by 33 House Republicans.

If Republicans lose more than 22 votes, Trump’s tax plan is effective dead.

Ways and Means member Peter Roskam, and Illinois Republican, says tax code-writers are finding a 'soft landing' for states that pay the most income tax to their local governments

Ways and Means member Peter Roskam, and Illinois Republican, says tax code-writers are finding a ‘soft landing’ for states that pay the most income tax to their local governments

White House chief economic adviser Gary Cohn briefed the press at the White House on Thursday but wouldn't promise that every middle-class U.S. family would get a tax cut

White House chief economic adviser Gary Cohn briefed the press at the White House on Thursday but wouldn’t promise that every middle-class U.S. family would get a tax cut

APRIL 13, 2016

High-income Americans pay most income taxes, but enough to be ‘fair’?

Corporations paying fewer taxes

Tax-deadline season isn’t many people’s favorite time of the year, but most Americans are OK with the amount of tax they pay. It’s what other people pay, or don’t pay, that bothers them.

Just over half (54%) of Americans surveyed in fall by Pew Research Center said they pay about the right amount in taxes considering what they get from the federal government, versus 40% who said they pay more than their fair share. But in a separate 2015 surveyby the Center, some six-in-ten Americans said they were bothered a lot by the feeling that “some wealthy people” and “some corporations” don’t pay their fair share.

It’s true that corporations are funding a smaller share of overall government operations than they used to. In fiscal 2015, the federal government collected $343.8 billion from corporate income taxes, or 10.6% of its total revenue. Back in the 1950s, corporate income tax generated between a quarter and a third of federal revenues (though payroll taxes have grown considerably over that period).

Nor have corporate tax receipts kept pace with the overall growth of the U.S. economy. Inflation-adjusted gross domestic product has risen 153% since 1980, while inflation-adjusted corporate tax receipts were 115% higher in fiscal 2015 than in fiscal 1980, according to the Bureau of Economic Analysis. There have been a lot of ups and downs over that period, as corporate tax receipts tend to rise during expansions and drop off in recessions. In fiscal 2007, for instance, corporate taxes hit $370.2 billion (in current dollars), only to plunge to $138.2 billion in 2009 as businesses felt the impact of the Great Recession.

Corporations also employ battalions of tax lawyers to find ways to reduce their tax bills, from running income through subsidiaries in low-tax foreign countries to moving overseas entirely, in what’s known as a corporate inversion (a practice the Treasury Department has moved to discourage).

But in Tax Land, the line between corporations and people can be fuzzy. While most major corporations (“C corporations” in tax lingo) pay according to the corporate tax laws, many other kinds of businesses – sole proprietorships, partnerships and closely held “S corporations” – fall under the individual income tax code, because their profits and losses are passed through to individuals. And by design, wealthier Americans pay most of the nation’s total individual income taxes.

Wealthy pay more in taxes than poorIn 2014, people with adjusted gross income, or AGI, above $250,000 paid just over half (51.6%) of all individual income taxes, though they accounted for only 2.7% of all returns filed, according to our analysis of preliminary IRS data. Their average tax rate (total taxes paid divided by cumulative AGI) was 25.7%. By contrast, people with incomes of less than $50,000 accounted for 62.3% of all individual returns filed, but they paid just 5.7% of total taxes. Their average tax rate was 4.3%.

The relative tax burdens borne by different income groups changes over time, due both to economic conditions and the constantly shifting provisions of tax law. For example, using more comprehensive IRS data covering tax years 2000 through 2011, we found that people who made between $100,000 and $200,000 paid 23.8% of the total tax liability in 2011, up from 18.8% in 2000. Filers in the $50,000-to-$75,000 group, on the other hand, paid 12% of the total liability in 2000 but only 9.1% in 2011. (The tax liability figures include a few taxes, such as self-employment tax and the “nanny tax,” that people typically pay along with their income taxes.)

All told, individual income taxes accounted for a little less than half (47.4%) of government revenue, a share that’s been roughly constant since World War II. The federal government collected $1.54 trillion from individual income taxes in fiscal 2015, making it the national government’s single-biggest revenue source. (Other sources of federal revenue include corporate income taxes, the payroll taxes that fund Social Security and Medicare, excise taxes such as those on gasoline and cigarettes, estate taxes, customs duties and payments from the Federal Reserve.) Until the 1940s, when the income tax was expanded to help fund the war effort, generally only the very wealthy paid it.

Since the 1970s, the segment of federal revenues that has grown the most is the payroll tax – those line items on your pay stub that go to pay for Social Security and Medicare. For most people, in fact, payroll taxes take a bigger bite out of their paycheck than federal income tax. Why? The 6.2% Social Security withholding tax only applies to wages up to $118,500. For example, a worker earning $40,000 will pay $2,480 (6.2%) in Social Security tax, but an executive earning $400,000 will pay $7,347 (6.2% of $118,500), for an effective rate of just 1.8%. By contrast, the 1.45% Medicare tax has no upper limit, and in fact high earners pay an extra 0.9%.

All but the top-earning 20% of American families pay more in payroll taxes than in federal income taxes, according to a Treasury Department analysis.

Still, that analysis confirms that, after all federal taxes are factored in, the U.S. tax system as a whole is progressive. The top 0.1% of families pay the equivalent of 39.2% and the bottom 20% have negative tax rates (that is, they get more money back from the government in the form of refundable tax credits than they pay in taxes).

Of course, people can and will differ on whether any of this constitutes a “fair” tax system. Depending on their politics and personal situations, some would argue for a more steeply progressive structure, others for a flatter one. Finding the right balance can be challenging to the point of impossibility: As Jean-Baptiste Colbert, Louis XIV’s finance minister, is said to have remarked: “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing.”

Note: This is an update of an earlier post published March 24, 2015.

http://www.pewresearch.org/fact-tank/2016/04/13/high-income-americans-pay-most-income-taxes-but-enough-to-be-fair/

Distrust of Senate grows within GOP

A day after the GOP presented a united front around the rollout of President Trump’s tax plan, House Republicans are expressing deep reservations about the Senate’s ability to get the job done.

Lawmakers stung over the failure to pass ObamaCare repeal worry the same fate could befall the tax measure if a handful of senators raise objections.

Donald Trump won with an electoral landside and his three big campaign points were ObamaCare repeal, tax reform and border security. For a handful of senators to derail that agenda is very frustrating,” said Rep. Blake Farenthold (R-Texas).

Rep. Tom Cole (R-Okla.), who is close to the House GOP leadership, says colleagues are frustrated with a handful of senators “overruling the will of the entire House.”

“We do need to see them step up and actually deliver for a change. We have over 200 bills sitting stalled over there. They haven’t been able to deliver on [health care] reform and they all ran on it and now we have a do-or-die moment on tax reform,” he said.

There’s also a sense among House Republicans that their Senate brethren aren’t under the same pressure to get results — perhaps because the GOP’s majority in the Senate is seen as safer in the 2018 midterm elections than the House majority.

“They put our majority in jeopardy with their failure on health care, more than they did their own,” Cole said.

While Republicans have a bigger majority in the House than in the Senate, the political map favors the Senate GOP in 2018.

Republicans only have to defend nine seats next year, and only one — held by Sen. Dean Heller (R-Nev.) — is in a state won by 2016 Democratic presidential nominee Hillary Clinton. Democrats are defending more than 20 seats, including 10 in states won by Trump.

In the House, Republicans represent 23 districts carried by Clinton, just shy of what Democrats would need to win to take back the majority.

Republicans are excited about moving to tax reform, and Trump’s plan received enthusiastic support at a half-day private retreat the House GOP held Wednesday to review it.

The president’s proposals to eliminate the estate tax and the alternative minimum tax received ovations.

But the mood turned more somber when Rep. Bruce Poliquin (R-Maine) stood up to ask if the Senate could be counted on to pass tax legislation, according to people familiar with the meeting.

A spokesman for Poliquin did not respond to a request for comment.

“A lot of House members trust a lot of senators to introduce their own tax reform bills,” said Rep. Steve King (R-Iowa), alluding to how senators seek to show independence by offering their own bills.

House Republicans say they can easily see GOP Sens. Susan Collins(Maine), John McCain (Ariz.) and Lisa Murkowski (Alaska), who all voted against a slimmed-down ObamaCare repeal bill in July, bucking the leadership again.SPONSORED BY NEXT ADVISOR

“I do not understand what motivates John McCain,” King said. “I don’t know what goes on in the minds of folks from Maine.”

Earlier this year, in an illustration of the frustration House Republicans hold for the Senate hold-outs, Farenthold joked about challenging Collins to a duel. He later apologized.

McCain later told The Hill that the health-care bill was doomed because it’s virtually impossible to tackle something as huge as reform as health care on a partisan basis.

“If you’re going to pass a major reform, you got to have bipartisan support,” he said.

Speaker Paul Ryan (R-Wis.) is making the case that Senate Republicans are more likely to come through on tax reform because McConnell and Senate Finance Committee Chairman Orrin Hatch (R-Utah) have already negotiated a tax reform framework with the administration and House leaders.

“What we did differently in this go around is we spent the last four months basically working together, the Senate Finance Committee, the House Ways and Means Committee and the White House, making sure that we’re on the same page,” Ryan told CNBC’s “Squawk Box” on Thursday morning.

Ryan explained that leaders made sure they did “the hard lifting, the tough work ahead of schedule, ahead of rollout.”

But he also acknowledged that House Republicans have just about run out of patience with the Senate after the collapse of health care reform this week.

“We’re really frustrated. Look, we passed 373 bills here in the House — 270-some are still in the Senate,” he said.

Already there are doubts that Senate Republicans will stick to the plan on taxes.

Hatch, who heads the Senate’s tax writing panel, told reporters Thursday afternoon that he would like to keep in place the deduction for state and local taxes, which the administration wants to eliminate to provide revenue for lower rates.

A spokeswoman for the Finance Committee said, “Chairman Hatch recognizes that every major provision within the tax code has an important constituency and consequence.”

http://thehill.com/homenews/senate/352999-distrust-of-senate-grows-within-gop

Key Findings

  • This year, Tax Freedom Day falls on April 23rd, 113 days into the year.
  • Tax Freedom Day is a significant date for taxpayers and lawmakers because it represents how long Americans as a whole have to work in order to pay the nation’s tax burden.
  • Americans will pay $3.5 trillion in federal taxes and $1.6 trillion in state and local taxes, for a total bill of more than $5.1 trillion, or 31 percent of the nation’s income.
  • Americans will collectively spend more on taxes in 2017 than they will on food, clothing, and housing combined.
  • If you include annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur 14 days later, on May 7.

What Is Tax Freedom Day?

Tax Freedom Day® is the day when the nation as a whole has earned enough money to pay its total tax bill for the year. Tax Freedom Day takes all federal, state, and local taxes—individual as well as payroll, sales and excise, corporate and property taxes—and divides them by the nation’s income. In 2017, Americans will pay $3.5 trillion in federal taxes and $1.6 trillion in state and local taxes, for a total tax bill of $5.1 trillion, or 31 percent of national income. This year, Tax Freedom Day falls on April 23, 113 days into the year.

What Taxes Do We Pay?

This year, Americans will work the longest—46 days—to pay federal, state, and local individual income taxes. Payroll taxes will take 26 days to pay, followed by sales and excise taxes (15 days), corporate income taxes (10 days), and property taxes (10 days). The remaining six days are spent paying estate and inheritance taxes, customs duties, and other taxes.

When Is Tax Freedom Day if You Include Federal Borrowing?

Since 2002, federal expenses have surpassed federal revenues, with the budget deficit exceeding $1 trillion annually from 2009 to 2012. In calendar year 2017, the deficit is expected to shrink slightly, from $657 billion to $612 billion. If we include this annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur on May 7, 14 days later. The latest ever deficit-inclusive Tax Freedom Day occurred during World War II, on May 25, 1945.

When Is My State’s Tax Freedom Day?

The total tax burden borne by residents across states varies considerably due to differing tax policies and the progressivity of the federal tax system. This means that states with higher incomes and higher taxes celebrate Tax Freedom Day later: Connecticut (May 21), New Jersey (May 13), and New York (May 11). Residents of Mississippi bear the lowest average tax burden in 2017, with their Tax Freedom Day having arrived on April 5. Also early were Tennessee (April 7) and South Dakota (April 8).

2017 Tax Freedom Day - State Dates

How Has Tax Freedom Day Changed over Time?

The latest ever Tax Freedom Day was May 1, 2000; in that year, Americans paid 33 percent of their total income in taxes. A century earlier, in 1900, Americans paid only 5.9 percent of their income in taxes, so that Tax Freedom Day came on January 22.

Tax Freedom Day Over Time

Methodology

In the denominator, we count every dollar that is officially part of net national income according to the Department of Commerce’s Bureau of Economic Analysis. In the numerator, we count every payment to the government that is officially considered a tax. Taxes at all levels of government—federal, state, and local—are included in the calculation. In calculating Tax Freedom Day for each state, we look at taxes borne by residents of that state, whether paid to the federal government, their own state or local governments, or governments of other states. Where possible, we allocate tax burdens to each taxpayer’s state of residence. Leap days are excluded, to allow comparison across years, and any fraction of a day is rounded up to the next calendar day

https://taxfoundation.org/publications/tax-freedom-day/

Feds Collect Record Taxes Through August; Still Run $673.7B Deficit

By Terence P. Jeffrey | September 13, 2017 | 4:28 PM EDT

(CNSNews.com) – The federal government collected record total tax revenues through the first eleven months of fiscal 2017 (Oct. 1, 2016 through the end of August), according to the Monthly Treasury Statement.

Through August, the federal government collected approximately $2,966,172,000,000 in total tax revenues.

That was $8,450,680,000 more (in constant 2017 dollars) than the previous record of $2,957,721,320,000 in total tax revenues (in 2017 dollars) that the federal government collected in the first eleven months of fiscal 2016.

At the same time that the federal government was collecting a record $2,966,172,000,000 in tax revenues, it was spending $3,639,882,000,000—and, thus, running a deficit of $673,711,000,000.

Individual income taxes have provided the largest share (47.9 percent) of federal revenues so far this fiscal year. From Oct. 1 through the end of August, the Treasury collected $1,421,997,000,000 in individual income taxes.

Payroll taxes provided the second largest share (35.9 percent), with the Treasury collecting $1,065,751,000,000 in these taxes.

The $233,631 in corporate income taxes collected in the first eleven months of fiscal 2017 equaled only 8.6 percent of total tax collections.

The $21,172,000,000 collected in estate and gift taxes equaled only 0.71 percent of total taxes collected this fiscal year.

(Tax revenues were adjusted to constant 2017 using the Bureau of Labor Statistics inflation calculator.)

The Latest: State legislatures ‘dismayed’ by GOP tax plan

WASHINGTON (AP) — The Latest on the Republican plan to overhaul the tax code (all times local):

4:40 p.m.

An organization that advocates for state legislatures says it’s “dismayed” the Republican tax cut proposal unveiled Wednesday would do away with a deduction for state and local taxes paid.

The National Conference of State Legislatures says the deduction has existed in the federal tax code since its inception. The group says “tens of millions of middle-class taxpayers of every political affiliation” would experience a greater tax burden if the deduction were eliminated.

The group says the deduction’s elimination will also impede states in their efforts to invest in education and other public services.

About a third of tax filers itemize deductions on their federal income tax returns. The Tax Policy Center says virtually all who do claim a deduction for state and local taxes paid.

___

4:10 p.m.

President Donald Trump is issuing a warning shot to Indiana’s Democratic senator: Support my tax overhaul or I’ll campaign against you next year.

Trump says at a tax event in Indiana that if Sen. Joe Donnelly doesn’t approve the plan, “we will come here and we will campaign against him like you wouldn’t believe.”

But Trump is predicting that numerous Democrats will come across the aisle and support his plan “because it’s the right thing to do.”

The president has made overtures to Democratic senators like Claire McCaskill of Missouri and Heidi Heitkamp of North Dakota in recent weeks. All three are facing re-election in 2018.

___

4 p.m.

Small business advocates are split over the draft of the new Republican tax plan.

The National Federation of Independent Business is praising the proposal to tax business income at 20 percent — including sole proprietors whose business income is taxed at individual rates up to 39.6 percent.

The Small Business & Entrepreneurship Council says the plan would simplify business taxes, encourage business investment and increase owners’ confidence.

But the Small Business Majority says the plan wouldn’t help most small companies, and the current top rate is paid by less than 2 percent of those businesses.

And John O’Neill, a tax analyst at the American Sustainable Business Council, says tax reform isn’t as useful to the economy as investing in infrastructure and education.

President Donald Trump is calling the current tax system a “relic” and a “colossal barrier” that’s standing in the way of the nation’s economic comeback.

Trump says at an event in Indianapolis that his tax proposal will help middle-class families save money and will eliminate loopholes that benefit the wealthy.

Trump says the wealthy “can call me all they want. It’s not going to help.” The billionaire president says he’s “doing the right thing. And it’s not good for me, believe me.”

The president says under his plan, “the vast majority of families will be able to file their taxes on a single sheet of paper.”

__

3:40 p.m.

President Donald Trump is making the case for a sweeping plan to overhaul the tax system for individuals and corporations. He calls it a “once in a generation” opportunity to cut taxes.

The president says in Indiana that he wants to cut taxes for middle-class families to make the system simpler and fairer.

Trump says his tax plan will “bring back the jobs and the wealth that have left our country.” He says it’s time for the nation to fight for American workers.

He’s praising his vice president, Mike Pence, Indiana’s former governor. Trump says, “it’s time for Washington to learn from the wisdom of Indiana.”

__

2:52 p.m.

A budget watchdog group in Washington says the new GOP tax plan could cost $2.2 trillion over the next 10 years.

The Committee for a Responsible Federal Budget admits its estimate is very preliminary since so many details are unclear, but its take is that the plan contains about $5.8 trillion in tax cuts but only $3.6 trillion worth of offsetting tax increases. That $2.2 trillion would be added to the nation’s $20 trillion debt.

That’s more than the $1.5 trillion debt cost that has emerged in a deal among Senate Republicans.

Republicans controlling Congress initially promised that the overhaul of the tax code wouldn’t add to the debt. The group also notes that the $2.2 trillion cost could grow by another $500 billion when interest costs are added in.

_____

1:54 p.m.

President Donald Trump says he’s always wanted to reduce the corporate tax rate to 20 percent — even though he said repeatedly he wanted to see it lowered to 15 percent.

Trump told reporters as he departed Washington for Indiana on Wednesday afternoon that a 20 percent rate was his “red line” and that it had always been his goal.

“In fact, I wanted to start at 15 so that we got 20,” he said, adding: “20′s my number.”

Trump also denies the plan unveiled by the White House and congressional Republicans Wednesday would benefit the wealthy.

He says: “I think there’s very little benefit for people of wealth.”

Under the plan, corporations would see their top tax rate cut from 35 percent to 20 percent.

____

1:37 p.m.

A vocal group of the most conservative House Republicans has come out in support of a draft tax plan endorsed by both President Donald Trump and top congressional GOP leaders.

The House Freedom Caucus endorsement is noteworthy because it could ease House passage of a budget plan that’s the first step to advancing the tax cut measure through Congress.

The group says the outline will allow workers to “keep more of their money,” while simplifying the loophole-choked tax code and making U.S. companies more competitive with their foreign rivals.

The group had held up action on the budget measure as they demanded more details on taxes.

_____

11:21 a.m.

President Donald Trump has two red lines that he refuses to cross on overhauling taxes: the corporate rate must be cut to 20 percent and the savings must go to the middle class.

Gary Cohn, the president’s top economics aide, says any overhaul signed by the president needs to include these two elements.

Trump had initially pushed for cutting the 39.6 percent corporate tax rate to 15 percent.

The administration says that the benefits of any tax cut will not favor the wealthy, with Cohn saying that an additional tax bracket could be added to levy taxes on the top one percent of earners if needed.

_____

11:20 a.m.

The Senate’s top Democrat is blasting a new tax cut plan backed by President Donald Trump as a giveaway to the rich.

Sen. Chuck Schumer says Trump’s plan only gives “crumbs” to the middle class, while top-bracket earners making more than a half-million dollars a year would reap a windfall.

The New York Democrat also blasted the plan for actually increasing the bottom tax rate from 10 percent to 12 percent, calling it a “punch to the gut of working Americans.”

Schumer said the plan is little more than an “across-the-board tax cut for America’s millionaires and billionaires.”

The plan, to be officially released Wednesday afternoon, is the top item on Washington’s agenda after the GOP failure to repeal the Obama health care law.

_____

9:53 a.m.

A new Republican blueprint for overhauling the U.S. tax code employs the themes of economic populism that President Donald Trump trumpeted during the presidential campaign to win support from working-class voters.

A copy of the plan to be released later Wednesday says, “Too many in our country are shut out of the dynamism of the U.S. economy.” That’s led to what the plans says is “the justifiable feeling that the system is rigged against hardworking Americans.”

The plan, obtained by The Associated Press, says the Trump administration and Congress “will work together to produce tax reform that will put America first.”

The GOP plan for the first major rewrite of the U.S. tax code in 30 years also says corporations will be stopped from shipping jobs and capital overseas.

_____

9:20 a.m.

President Donald Trump and congressional Republicans are proposing a tax plan that they say will be simple and fair.

In a document obtained by The Associated Press on Wednesday, they outline a blueprint for almost doubling the standard deduction for married taxpayers filing jointly to $24,000, and $12,000 for individuals.

The plan calls for cutting the corporate tax rate from 35 percent to 20 percent. The GOP proposal also calls for reducing the number of tax brackets from seven to three with a surcharge on the wealthiest Americans.

The plan also leaves intact the deduction for mortgage interest and charitable deductions.

The White House and Republicans plan a formal roll out later Wednesday.

__

4:26 a.m.

President Donald Trump and congressional Republicans are rolling out a sweeping plan to cut taxes for individuals and corporations, simplify the tax system, and likely double the standard deduction used by most Americans.

Months in the making, the plan meets a political imperative for Republicans to deliver an overhaul of the U.S. tax code after the failure of the health care repeal.

The public reveal of the plan was set for Wednesday. The day before, details emerged on Capitol Hill while Trump personally appealed to House Republicans and Democrats at the White House to get behind his proposal.

https://apnews.com/f609602269d54524aa14e1d9c74ec97c

 

President Trump spoke about his administration’s tax reform plan in Indianapolis on Wednesday.CreditTom Brenner/The New York Times

WASHINGTON — The tax plan that the Trump administration outlined on Wednesday is a potentially huge windfall for the wealthiest Americans. It would not directly benefit the bottom third of the population. As for the middle class, the benefits appear to be modest.

The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity. President Trump said on Wednesday that the cuts would increase investment and spur growth, creating broader prosperity. But experts say the upside is limited, not least because the economy is already expanding.

The plan would also benefit Mr. Trump and other affluent Americans by eliminating the estate tax, which affects just a few thousand uber-wealthy families each year, and the alternative minimum tax, a safety net designed to prevent tax avoidance.

The precise impact on Mr. Trump cannot be ascertained because the president refuses to release his tax returns, but the few snippets of returns that have become public show one thing clearly: The alternative minimum tax has been unkind to Mr. Trump. In 2005, it forced him to pay $31 million in additional taxes.

Mr. Trump has also pledged repeatedly that the plan would reduce the taxes paid by middle-class families, but he has not provided enough details to evaluate that claim. While some households would probably get tax cuts, others could end up paying more.

https://tpc.googlesyndication.com/safeframe/1-0-10/html/container.html

The plan would not benefit lower-income households that do not pay federal income taxes. The president is not proposing measures like a reduction in payroll taxes, which are paid by a much larger share of workers, nor an increase in the earned-income tax credit, which would expand wage support for the working poor.

Indeed, to call the plan “tax reform” seems like a stretch — Mr. Trump himself told conservative and evangelical leaders on Monday that it was more apt to refer to his plan as “tax cuts.” Mr. Trump’s proposal echoes the large tax cuts that President Ronald Reagan, in 1981, and President George W. Bush, in 2001, passed in the first year of their terms, not the 1986 overhaul of the tax code that he often cites. Like his Republican predecessors, Mr. Trump says cutting taxes will increase economic growth.

Photo

The public portion of the debt equaled 24 percent of the gross domestic product in 1981 when President Ronald Reagan signed a tax cut at his vacation home near Santa Barbara, Calif. In June of this year, the debt equaled 75 percent of economic output. CreditAssociated Press

“It’s time to take care of our people, to rebuild our nation and to fight for our great American workers,” Mr. Trump told a crowd in Indianapolis.

But the moment is very different. Mr. Reagan and Mr. Bush cut taxes during recessions. Mr. Trump is proposing to cut taxes during one of the longest economic expansions in American history. It is not clear that the economy can grow much faster; the Federal Reserve has warned that it will seek to offset any stimulus by raising interest rates.

At the time of the earlier cuts, the federal debt was considerably smaller. The public portion of the debt equaled 24 percent of the gross domestic product in 1981, and 31 percent in 2001. In June, the debt equaled 75 percent of economic output.

The Trump administration insists that its tax cut will catalyze such an economic boom that money will flow into the federal coffers and the debt will not rise. The Reagan and Bush administrations made similar claims. The debt soared in both instances.

Another issue: Both Mr. Bush and Mr. Reagan proposed to cut taxes when federal revenues had climbed unusually high as a share of the national economy.

Mr. Trump wants to cut taxes while revenues are close to an average level.

Since 1981, federal revenue has averaged 17.1 percent of the nation’s gross domestic product, while federal spending has averaged 20.3 percent.

Last year’s numbers were close to the long-term trend: Federal revenue was 17.5 percent of gross domestic product; spending was 20.7 percent.

Martin Feldstein, a Harvard University economics professor and a longtime adviser to Republican presidents, said that the moment was not perfect, but that Mr. Trump should nevertheless press ahead because the changes would be valuable.

“The debt is moving in the wrong direction,” Mr. Feldstein said. “But the tax reform is moving in the right direction.”

Proponents of the plan assert that the largest benefits are indirect. In particular, they argue that cutting corporate taxes will unleash economic growth.

Mr. Trump’s plan is more focused on business tax cuts than the Reagan and Bush plans, and economists agree that this makes economic gains more likely.

The key elements are large reductions in the tax rates for business income: To 20 percent for corporations, and to 25 percent for “pass-through” businesses, a broad category that includes everything from mom-and-pop neighborhood shops to giant investment partnerships, law firms — and real estate developers.

The plan also lets businesses immediately deduct the full cost of new investments.

“You’re going to get a boost in investment,” said William Gale, co-director of the nonpartisan Tax Policy Center. “It’s hard to argue that there won’t be a positive effect.”

But Mr. Gale added that there are reasons to think it would be modest.

The most important is that the economy is already growing at a faster pace than the Fed considers sustainable. “Economy roaring,” Mr. Trump tweeted on Wednesday.

Photo

After President George W. Bush’s 2001 tax cuts, the wealthiest Americans paid 34.7 percent of their income in taxes, while Americans in the middle income brackets paid 16.1 percent. CreditRon Edmonds/Associated Press

Also, interest rates are low, and nonfinancial companies are sitting on $1.84 trillion that they don’t want to spend. “It’s not lack of funds that’s stopping companies from investing,” Mr. Gale said.

And the stimulus would come at the cost of increased federal borrowing. Interest rates might not rise if foreigners provide the necessary money, as happened in the 1980s and the 2000s, but that means some of the benefits also end up abroad.

It’s a venerable principle that lower tax rates encourage corporate investment. But a study of a 2003 cut in the tax rate on corporate dividendsfound no discernible impact on investment. The finding would not have surprised Mr. Bush’s Treasury secretary at the time, Paul O’Neill, who was fired for opposing the plan. “You find somebody who says, ‘I do more R & D because I get a tax credit for it,’ you’ll find a fool,” Mr. O’Neill, a former Alcoa chairman, said at the time.

Mr. Trump’s plan also continues a long-term march away from progressive taxation. The federal income tax is the centerpiece of a longstanding bipartisan consensus that wealthy Americans should pay an outsize share of the cost of government.

But successive rounds of tax cuts have eroded that premise, according to research by the economists Thomas Piketty of the Paris School of Economics and Emmanuel Saez of the University of California at Berkeley. In 1980, the wealthiest Americans paid 59 percent of their income in taxes while the middle 20 percent of Americans paid 24.5 percent. After the Bush tax cuts, the wealthiest Americans paid 34.7 percent of their income in taxes, while Americans in the middle income brackets paid 16.1 percent.

Under President Barack Obama, Congress increased taxation of upper-income households. Mr. Trump is seeking to resume the long-term trend toward flattening the curve. Upper-income households would get large tax cuts; lower-income households would get none.

The exact impact on the middle class is not yet clear. The outline released Wednesday proposes new tax brackets but does not specify income thresholds. It also proposes to replace the current tax deduction for each dependent with a child tax credit — but the administration did not propose a dollar amount for that new credit.

 

The administration said Wednesday that it was committed “to ensure that the reformed tax code is at least as progressive as the existing tax code.” That language, however, applies only to personal income taxes. The proposed reduction of business taxes and the elimination of the estate tax would both disproportionately benefit wealthy Americans.

“I don’t think there’s any way to justify this as a progressive proposal,” said Lily Batchelder, a law professor at New York University who served as deputy director of Mr. Obama’s National Economic Council. “In broad brush strokes, they’re doing nothing for the bottom 35 percent, they’re doing very little and possibly raising taxes on the middle class, and they’ve specified tax cuts for the wealthy.”

 

Tax reform: Trump, GOP mull surcharge on wealthy, doubling standard deduction

President Donald Trump speaks during a meeting with members of the House Ways and Means committee in the Roosevelt Room of the White House, Tuesday, Sept. 26, 2017, in Washington. (AP Photo/Evan Vucci)(<cite>Evan Vucci</cite>)
President Donald Trump speaks during a meeting with members of the House Ways and Means committee in the Roosevelt Room of the White House, Tuesday, Sept. 26, 2017, in Washington. (AP Photo/Evan Vucci)(Evan Vucci)

WASHINGTON (AP) — President Donald Trump and congressional Republicans are considering an income tax surcharge on the wealthy and doubling the standard deduction given to most Americans, with the GOP under pressure to overhaul the tax code after the collapse of the health care repeal.

On the eve of the grand rollout of the plan, details emerged on Capitol Hill on Tuesday while Trump personally appealed to House Republicans and Democrats at the White House to get behind his proposal.

“We will cut taxes tremendously for the middle class. Not just a little bit but tremendously,” Trump said as he met with members of the tax-writing Ways and Means Committee. He predicted jobs “will be coming back in because we have a non-competitive tax structure right now and we’re going to go super competitive.”

Among the details: repeal of the tax on multimillion-dollar estates, a reduction in the corporate rate from 35 percent to 20 percent and potentially four tax brackets, down from the current seven. The current top rate for individuals, those earning more than $418,000 a year, is 39.6 percent.

The goal is a more simple tax code that would spur economic growth and make U.S. companies more competitive. Delivering on the top legislative goal will be crucial for Republicans intent on holding onto their majorities in next year’s midterm elections.

The tax overhaul plan assembled by the White House and GOP leaders, which would slash the rate for corporations, aims at the first major revamp of the tax system in three decades. It would deliver a major Trump campaign pledge.

The outlines of the plan were described by GOP officials who demanded anonymity to disclose private deliberations.

The plan would likely cut the tax rate for the wealthiest Americans from 39.6 percent to 35 percent. A new surcharge on wealthy taxpayers might soften the appearance of the wealthiest Americans and big corporations benefiting from generous tax cuts.

Republicans already were picking at the framework, pointing up how divisions within GOP ranks can complicate efforts to overhaul taxes as has happened with the series of moves to repeal the Obama health care law.

Details of the proposal crafted behind closed doors over months by top White House economic officials, GOP congressional leaders and the Republican heads of tax-writing panels in the House and Senate were set to be released Wednesday. Trump and the Republicans were putting the final touches on the plan when the Democrats were brought in. A senior Democrat saw it as the opening of negotiations.

Trump had previously said he wanted a 15 percent rate for corporations, but House Speaker Paul Ryan has called that impractically low and has said it would risk adding to the soaring $20 trillion national debt.

Trump said Tuesday some of the components included doubling the standard deduction used by families and increasing the child tax credit. He said the majority of Americans would be able to file their taxes on a single page. “We must make our tax code simple and fair. It’s too complicated,” Trump said.

Some conservative GOP lawmakers, meanwhile, dug their heels in on the shape of the plan.

Rep. Mark Meadows, head of the House Freedom Caucus, said he’d vote against tax legislation if it provided for a corporate tax rate over 20 percent, a rate for small businesses higher than 25 percent, or if it fails to call for a doubling of the standard deduction.

“That’s the red line for me,” Meadows said at a forum of conservative lawmakers. He noted he was speaking personally, not as head of the conservative grouping.

Disgruntlement came from Sen. John Kennedy, R-La., over the process of putting together the plan.

“I get that we want to move to 3 percent but I’d like to know how,” Kennedy said referring to Trump’s ambitious goal of annual growth in the economy through tax cuts. “I’m not much into all the secrecy,” he said. “We need to do this by November, and at the rate we’re going I’m not encouraged right now.”

The Democrats, while acknowledging the tax system should be simplified, have insisted that any tax relief should go to the middle class, not the wealthiest. Tax cuts shouldn’t add to the ballooning debt, the Democrats say.

Rep. Richard Neal of Massachusetts, the top Democrat on the Ways and Means Committee, came away from the White House meeting in a negotiating mood. “This is when the process gets kicked off,” Neal told reporters at the Capitol.

The rate for wealthiest taxpayers shouldn’t be reduced, he said. Democrats are concerned by indications from Trump and his officials that “they intend to offer tax relief to people at the top,” he said.

Still, there may be room to negotiate over the Republicans’ insistence on repealing the estate tax, Neal indicated, since “there are other things you can do with it” to revise it short of complete elimination.

http://www.syracuse.com/politics/index.ssf/2017/09/tax_reform_trump_gop_mull_surcharge_on_wealthy_doubling_standard_deduction.html

9 ways Trump’s tax plan is a gift to the rich, including himself

President Trump and congressional Republicans keep saying their tax plan doesn’t help the rich. But that’s not true.

The nine-page outline released Wednesday is full of goodies that will make millionaires and billionaires happy. Republicans say it’s a starting point, but it would have to be turned on its head to be anything other than a windfall for the wealthy. In fact, in nine pages, The Washington Post counts at least nine ways the wealthy benefit, including Trump himself. Here’s our list:

1) A straight-up tax cut for the rich. The top tax rate in the United States is 39.6 percent. Trump and GOP leaders propose lowering that to 35 percent. It’s also worth noting the 39.6 percent tax rate applies only to income above $418,400 for singles and $470,700 for married couples. The outline doesn’t specify what income level the new 35 percent rate would kick in at. It’s possible the rich will get an every bigger tax cut if the final plan raises that threshold.

2) The estate tax goes bye-bye. Trump likes to call the estate tax the “death tax.” At the moment, Americans who pass money, homes or other assets on to heirs when they die pay a 40 percent tax. But here’s the important part Trump leaves out: The only people who have to pay this tax are those passing on more than $5.49 million. (And a married couple can inherit nearly $11 million without paying the tax.)

September 28 at 12:45 PM

Trump frequently claims the estate tax hurts farmers and small-business owners. But as The Post’s Fact Checker team points out, only 5,500 estates will pay any estate tax at all in 2017 (out of about 3 million estates). And of those 5,500 hit with the tax, only 80 (yes, you read that right) are farms or small businesses.

3) Hedge funds and lawyers get a special tax break. The plan calls for the tax rate on “pass-through entities” to fall from 39.6 percent to 25 percent. Republicans claim this is a tax break for small-business owners because “pass-through entities” is an umbrella term that covers the ways most people set up businesses: sole proprietorships, partnerships and S corporations. But the reality is, most small-business owners (more than 85 percent) already pay a tax rate of 25 percent or less, according to the Brookings Institution.

Only 3 percent pay a rate greater than 30 percent. That 3 percent includes doctors, lawyers, hedge fund managers and other really well-off people. Instead of paying a 35 percent income tax, these rich business owners would be able to pass off their income as business income and pay only a 25 percent tax rate. (The tax outline released Wednesday “contemplates” that Congress “will adopt measures to prevent” this kind of tax dodging. But there’s no guarantee that will happen).

4) The AMT is over. Republicans want to kill the alternative minimum tax, a measure put in place in 1969 to ensure the wealthy aren’t using a bunch of loopholes and credits to lower their tax bills to paltry sums. The AMT starts to phase in for people with earnings of about $130,000, but the vast majority of people subject to the AMT earn over $500,000, according to the nonpartisan Tax Policy Center.

Trump himself would benefit from repealing the AMT. As The Post’s Fact Checker team notes, Trump’s leaked tax return from 2005 shows that the AMT increased his tax bill from about $5.3 million to $36.5 million. In 2005 alone, he potentially could have saved $31 million.

5) The wealthy get to keep deducting mortgage interest. Only about 1 in 4 taxpayers claims the mortgage interest deduction, the Brookings Institution says. “Upper-income households primarily benefit from the subsidy,” wrote Brookings scholar Bruce Katz in a report last year. In fact, the wealthy can deduct interest payments on mortgages worth up to $1 million. There have been many calls over the years to lower that threshold, but the Trump tax plan is keeping it in place.

The GOP is doing this even though the tax cuts would add to the United States’ debt, since it doesn’t raise enough revenue to offset all the money lost from the new tax breaks. The outline also calls for the charitable deduction to stay, another deduction used heavily by the top 1 percent.

6) Stockholders are going to be very happy. Trump is calling for a super-low tax rate on the money big businesses such as Apple and Microsoft bring back to the United States from overseas, a process known as “repatriation.” Trump argues companies will use all this money coming home to build new U.S. factories. But the last time the United States did this, in the early 2000s, it ended up being a big win for people who own stocks. Companies simply took most of the money and gave it to shareholders in the form of dividends and share buybacks.

Guess what? Just about everyone (outside the White House) predicts the same thing will happen again. Corporations are even admitting it.

7) The favorite tax break of hedge fund billionaires is still safe. There’s no mention in the tax-overhaul rubric of “carried interest.” Those two words make most people’s eyes glaze over, but they are a well-known tax-dodging trick for millionaires and billionaires on Wall Street. Hedge fund and private-equity managers earn most of their money from their investments doing well. But instead of paying income taxes on all that money at a rate of 39.6 percent, the managers are able to claim it as “carried interest” so they can pay tax at the low capital gains rate of 20 percent.

Trump called this totally unfair on the campaign trail. During the primaries, he said he would eliminate this loophole because hedge fund managers were “getting away with murder.” But that change didn’t end up in the GOP plan.

8) Capital gains taxes stay low. The nine-page document also says nothing about capital gains, the tax rate people pay when they finally sell a stock or asset after holding on to it for many years. At the moment, the wealthiest Americans pay a 20 percent capital gains rate. Trump and Republican leaders aren’t proposing any changes to that, even though it is a popular way for millionaires to lower their tax bill.

9) The Obamacare investment tax goes away. The Affordable Care Act put in place a 3.8 percent surcharge on investment income (known formally as the Net Investment Income Tax). It applies only to individuals earning more than $200,000 a year and married couples earning more than $250,000. There’s no mention of this tax in the outline released this week, but Republicans clearly want to get rid of it. Repealing it was part of the GOP health-care bills that failed to pass Congress in recent weeks. One way or another, Republicans are likely to roll back this tax.

When reporters asked Trump whether the tax plan would help him personally, he quickly said no.

“No, I don’t benefit. I don’t benefit,” Trump said. “In fact, very, very strongly, as you see, I think there’s very little benefit for people of wealth.”

Rep. Kevin Brady (R-Tex.), who was part of the team that worked with the White House to craft the tax-overhaul outline, was asked a similar question on Fox News. He, too, said this plan does little to help the rich.

“I think those who benefit most are middle-class families struggling to keep every dollar they earn,” Brady told Fox News.

But one look at this plan tells a very different story. It gives an outright tax cut to the wealthiest Americans and it preserves almost all of the most popular loopholes they use to reduce their tax bills.

Sen. Patrick J. Toomey (R-Pa.), a strong proponent of tax cuts, was more straightforward this week. He told reporters, “This is a supply-side approach,” another way of saying trickle-down economics.

Read more:

The GOP tax plan, explained in simplest possible terms

Fact-checking President Trump’s tax speech in Indianapolis

The one surefire way to grow your wealth in the U.S.

https://www.washingtonpost.com/news/wonk/wp/2017/09/28/9-ways-trumps-tax-plan-is-a-gift-to-the-rich-including-himself/?utm_term=.bb9dafe36550

The GOP tax plan, explained in simplest possible terms

The big tax code makeover President Trump and Republicans have been promising for months is finally out.

It’s nine pages long. That may sound like a lengthy document, but the final bill in Congress will be hundreds of pages. What the White House released today is a framework. It’s a summary of what top Trump officials and congressional Republican leaders have agreed to so far. The Trump administration says it’s the job of Congress to flesh out the specifics.

Here are the key takeaways:

  • The plan will likely add to America’s $20 trillion debt. There are lots of tax cuts spelled out. There are almost no loopholes eliminated.
  • The rich make out pretty well. The White House vows poor people won’t have to pay more than they do now, but there are few specifics in the plan so far to ensure that.
  • Businesses (both small and large) get major tax cuts.
  • Most people will pay lower taxes, although it’s unclear if the rich get a bigger break than the middle class.
  • There are still a lot of details Congress has to figure out.

What’s in there for the rich?
The wealthy get a tax cut. They will pay only 35 percent on their income taxes (down from 39.6 percent). At the moment, this rate applies to any income above about $418,000. It’s unclear if Congress will tinker with the income level that rate kicks in at. Trump says he would be fine with Congress raising taxes on the rich in the final plan, but he isn’t requiring that they do that.

The bigger tax break for the rich is the elimination of the estate tax, sometimes called the “death tax.” It’s the tax families currently pay when an asset like a house or ranch worth over $5.49 million is passed down to a heir after someone dies. Trump’s plan scraps this tax entirely.

What’s in there for the middle class?
This is the giant question mark. There’s a lot of details left for Congress to fill out. Under the plan, America will have just three tax rates: 35, 25 and 12 percent, but we don’t know yet which rate someone earning $50,000 or $80,000 will pay.

What we do know is the standard deduction (currently $6,350 for individuals and $12,700 for married couples) will nearly double. This means that a married couple earning $24,000 or less or an individual earning $12,000 or less won’t pay any taxes. But the plan also eliminates what’s known as the additional standard deduction and the popular personal exemption. Some filers may end up worse off after these changes.

The plan also promises a “significant increase” to the child tax credit (it’s currently $1,000 per child) and that middle class Americans can keep using the mortgage interest deduction as well as tax breaks for retirement savings (e.g. 401ks) and higher education. But it eliminates the state and local tax deduction, which is used by many in high-tax states like New York and California.

Can I really file my taxes on a postcard?
The “file on a postcard” idea was an exaggeration. The goal now is to get most people’s tax returns down to one page.

What about the working poor?
A senior White House official told journalists Tuesday, “We are committed to making the tax code at least as progressive as the current tax code.” Translation: The poor should not end up paying more than they do now. But it’s hard to check if that’s true because we still don’t have enough details.

In theory, increasing the standard deduction should mean that more Americans pay $0 in taxes, but it depends what happens to a lot of other tax provisions (and whether Congress ends up cutting safety net programs that help the poor to pay for tax cuts). Top Republican officials have not decided what to do with the Earned Income Tax Credit (EITC), which is widely used by the working poor to help them reduce their tax bill and even get a small amount of money back from the government.

What happens to the Alternative Minimum Tax?
The Alternative Minimum Tax (AMT) would go away under the plan. It currently applies mainly to individuals earning more than $130,000 and married couples earning more than $160,00. It was created in the 1970s to prevent wealthier families from taking so many tax breaks that they end up paying little to no taxes, but over the years, the AMT has impacted more and more families.

What happens to big businesses?
America’s large corporations will get a big tax cut. The top rate at the moment is 35 percent, one of the highest rates among developed nations. Most U.S. companies don’t pay that rate, but it is still a starting point. The Trump plan slashes the rate to 20 percent, just below the average of major developed countries the U.S. competes against.

The White House and Congress promised to close some loopholes that businesses currently enjoy, but no one is saying what those are yet. In fact, the only details we have show MORE business goodies, not less. The plan calls for businesses to be able to write off their investments (e.g. the cost of building a new factory) right away instead of crediting a little bit each year for several years. This is supposed to encourage companies to invest more, which will hopefully create more jobs.

What happens to small businesses?
Small businesses also get a tax cut under the plan. At the moment, many small business owners pay whatever their personal income tax rate is, so some end up paying as much as 39.6 percent. Under this plan, most “pass throughs” (code for small businesses) would pay at the 25 percent rate (the exception is if a small businesses earned very little income, they might be able to pay at the 12 percent rate).

There’s concern some rich people, especially hedge fund managers and consultants to the stars, will simply use this as a way to lower their tax bill. Instead of paying at the new 35 percent top income tax rate, they could say all their income is small business income and pay at the 25 percent rate. Trump has promised to fix that problem, but no one is sure how.

How will this plan help growth?
Trump’s big claim is that this tax overhaul will unleash economic growth. The United States has been growing at about 2 percent a year lately, below the historic norm. Trump keeps saying this plan will unleash growth of 3 percent — or more.

Economists, even those who work at Wall Street banks and for big companies, only project a modest boost to growth. Estimates range from 2.1 percent to 2.25 percent.

How much will this add to the debt?
Originally, Republican leaders said they would not add $1 to America’s debt, but that promise appears to be gone. The White House says it will go along with whatever price tag Congress allows. Right now, Senate Republicans have a deal to add $1.5 trillion to the debt over the next decade, so there’s a good chance this tax plan will add to the debt.

What are the pitfalls?
There’s a ton we don’t know yet. Many on the left are concerned this plan gives away too much to the rich and big businesses. Many across the political spectrum are alarmed that it will likely add to America’s already large debt.

https://www.washingtonpost.com/news/wonk/wp/2017/09/27/the-gop-tax-plan-explained-in-simplest-possible-terms/?tid=a_inl&utm_term=.4de9a2bfc9ce

Some tax breaks are for the rich.
Others for the poor. Which are for you?

The Republican tax reform plan is finally out – you can read the full document here. The framework touches on many parts of the tax code, but two critical areas are tax deductions and credits. These reduce how much taxpayers owe, but they affect income groups differently. How could the proposed changes to these policies affect your taxes?

Most beneficial tax deductions and exemptions, 2015

Deductions and exemptions reduce your tax bill by decreasing your taxable income.

Other deductionsState and local taxesCharitable contributionsReal estate taxesEmployee business expensesMedical/dental expensesHome mortgage interestStandard deductionPersonal and dependent exemptions$10,000$25,000$50,000$100,000$500,000Lower incomeHigher income$30,000 to $40,000
DEDUCTION MEAN DEDUCTION*
Personal and dependent exemptions (?) $7,700
Standard deduction (?) $7,100
Home mortgage interest (?) $700
Medical/dental expenses (?) $500
Employee business expenses (?) $400
Real estate taxes (?) $400
Charitable contributions (?) $300
State and local taxes (?) $200
Other deductions $200

* Mean deduction is the total deduction amount received by the income group divided by the number of returns in that group, including those that did not receive the deduction.

Note: Returns for those filing singly and those filing jointly or in other categories are lumped together. Tax returns cannot claim both the standard deductions and itemized deductions. Total deductions and exemptions can exceed adjusted gross income, but the excess does not affect taxes owed, as taxable income cannot drop below zero.

Taxpayers – except the highest earners – are currently eligible for tax “exemptions” to reduce their taxable income. In 2016, Americans could take a $4,050 personal exemption from their income (double if filing as a married couple), and then get additional exemptions for dependents.

After exemptions taxpayers can further reduce their taxable income by taking tax deductions. 69 percent of taxpayers in 2015 took the “standard deduction,” a fixed amount that is currently $6,300 for (most) taxpayers filing singly.

https://www.washingtonpost.com/graphics/2017/politics/tax-breaks/?utm_term=.09de159b6eeb

subscribe
The story must be told.
Your subscription supports journalism that matters.

The remaining taxpayers – mostly in higher income groups – “itemized” their tax returns, meaning they chose to take advantage of more specific tax deductions based on their expenses. The deductions came out to more than they would have gotten through the standard deduction.

Here’s what the Republican’s tax reform framework would change about deductions:

  • Republicans want to nearly double the standard deduction to $12,000 for those filing singly and $24,000 for those filing jointly. At the same time, the framework calls for the repeal of exemptions, consolidating these different parts of the tax system.
  • The framework aims to simplify the tax code by gutting many itemized deductions, although charitable contributions and mortgage interestwould be retained. That makes the state and local taxes deduction (SALT) a major target. SALT lets you deduct state and local income or sales taxes you owe from your federal taxable income and largely benefits blue states with higher taxes.

Most beneficial tax credits, 2015

Tax credits are subtracted directly from taxes owed.

Prior-year minimum tax creditGeneral business creditResidential energy creditsForeign tax creditChild care creditOther creditsAmerican opportunity creditNonrefundable education creditChild tax creditAdditional child tax creditEarned income credit$10,000$25,000$50,000$100,000$500,000Lower incomeHigher income$30,000 to $40,000
CREDIT MEAN CREDIT*
Earned income credit (?) $500
Additional child tax credit (?) $300
Child tax credit (?) $200
Nonrefundable education credit (?) $100
American opportunity credit (?) $100
Other credits $0
Child care credit (?) $0
Foreign tax credit (?) $0
Residential energy credits (?) $0
General business credit (?) $0
Prior-year minimum tax credit (?) $0

* Mean credit is the total credit amount received by the income group divided by the number of returns in that group, including those that did not receive the credit.

Note: Returns for those filing singly and those filing jointly or in other categories are lumped together.

Credits can reduce federal income taxes owed down to zero, but “refundable” credits can reduce them even more, allowing some taxpayers to receive a net gain from the federal government after filing.

Here’s what the Republican’s tax reform framework would change about credits:

  • The plan calls for an expansion of the child tax credit, increasing its value from the current $1,000 max and making it available to more income groups. The framework also proposes an additional $500 non-refundable credit for “non-child dependents.”
  • Like with deductions, the framework calls for the repeal of “numerous other” credits to simplify the tax code but does not specify which policies will be targeted.

Just part of the picture

Of course, the tax policies we’re looking at above are just part of U.S. federal tax code. Actual income tax rates are central to tax reform proposals; the Republican tax reform framework would reduce the seven income brackets currently used to just three, lowering rates for many but increasing them for some in the lowest bracket. It also calls for the repeal of the estate tax.

The plan also proposes a large decrease in the corporate tax rate from 35 to 20 percent, among many other changes to the business tax code.

https://www.washingtonpost.com/graphics/2017/politics/tax-breaks/?utm_term=.09de159b6eeb

The Internal Revenue Service has recently released new data on individual income taxes for calendar year 2014, showing the number of taxpayers, adjusted gross income, and income tax shares by income percentiles.[1]

The data demonstrates that the U.S. individual income tax continues to be very progressive, borne mainly by the highest income earners.

  • In 2014, 139.6 million taxpayers reported earning $9.71 trillion in adjusted gross income and paid $1.37 trillion in individual income taxes.
  • The share of income earned by the top 1 percent of taxpayers rose to 20.6 percent in 2014. Their share of federal individual income taxes also rose, to 39.5 percent.
  • In 2014, the top 50 percent of all taxpayers paid 97.3 percent of all individual income taxes while the bottom 50 percent paid the remaining 2.7 percent.
  • The top 1 percent paid a greater share of individual income taxes (39.5 percent) than the bottom 90 percent combined (29.1 percent).
  • The top 1 percent of taxpayers paid a 27.1 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.5 percent).

Reported Income and Taxes Paid Both Increased Significantly in 2014

Taxpayers reported $9.71 trillion in adjusted gross income (AGI) on 139.5 million tax returns in 2014. Total AGI grew by $675 billion from the previous year’s levels. There were 1.2 million more returns filed in 2014 than in 2013, meaning that average AGI rose by $4,252 per return, or 6.5 percent.

Meanwhile, taxpayers paid $1.37 trillion in individual income taxes in 2014, an 11.5 percent increase from taxes paid in the previous year. The average individual income tax rate for all taxpayers rose from 13.64 percent to 14.16 percent. Moreover, the average tax rate increased for all income groups, except for the top 0.1 percent of taxpayers, whose average rate decreased from 27.91 percent to 27.67 percent.

The most likely explanation behind the higher tax rates in 2014 is a phenomenon known as “real bracket creep.” [2] As incomes rise, households are pushed into higher tax brackets, and are subject to higher overall tax rates on their income. On the other hand, the likely reason why the top 0.1 percent of households saw a slightly lower tax rate in 2014 is because a higher portion of their income consisted of long-term capital gains, which are subject to lower tax rates.[3]

The share of income earned by the top 1 percent rose to 20.58 percent of total AGI, up from 19.04 percent in 2013. The share of the income tax burden for the top 1 percent also rose, from 37.80 percent in 2013 to 39.48 percent in 2014.

Top 1% Top 5% Top 10% Top 25% Top 50% Bottom 50% All Taxpayers
Table 1. Summary of Federal Income Tax Data, 2014
Number of Returns 1,395,620 6,978,102 13,956,203 34,890,509 69,781,017 69,781,017 139,562,034
Adjusted Gross Income ($ millions) $1,997,819 $3,490,867 $4,583,416 $6,690,287 $8,614,544 $1,094,119 $9,708,663
Share of Total Adjusted Gross Income 20.58% 35.96% 47.21% 68.91% 88.73% 11.27% 100.00%
Income Taxes Paid ($ millions) $542,640 $824,153 $974,124 $1,192,679 $1,336,637 $37,740 $1,374,379
Share of Total Income Taxes Paid 39.48% 59.97% 70.88% 86.78% 97.25% 2.75% 100.00%
Income Split Point $465,626 $188,996 $133,445 $77,714 $38,173
Average Tax Rate 27.16% 23.61% 21.25% 17.83% 15.52% 3.45% 14.16%
 Note: Does not include dependent filers

High-Income Americans Paid the Majority of Federal Taxes

In 2014, the bottom 50 percent of taxpayers (those with AGIs below $38,173) earned 11.27 percent of total AGI. This group of taxpayers paid approximately $38 billion in taxes, or 2.75 percent of all income taxes in 2014.

In contrast, the top 1 percent of all taxpayers (taxpayers with AGIs of $465,626 and above) earned 20.58 percent of all AGI in 2014, but paid 39.48 percent of all federal income taxes.

In 2014, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid $543 billion, or 39.48 percent of all income taxes, while the bottom 90 percent paid $400 billion, or 29.12 percent of all income taxes.

Figure 1.

High-Income Taxpayers Pay the Highest Average Tax Rates

The 2014 IRS data shows that taxpayers with higher incomes pay much higher average individual income tax rates than lower-income taxpayers.[4]

The bottom 50 percent of taxpayers (taxpayers with AGIs below $38,173) faced an average income tax rate of 3.45 percent. As household income increases, the IRS data shows that average income tax rates rise. For example, taxpayers with AGIs between the 10th and 5th percentile ($133,445 and $188,996) pay an average rate of 13.7 percent – almost four times the rate paid by those in the bottom 50 percent.

The top 1 percent of taxpayers (AGI of $465,626 and above) paid the highest effective income tax rate, at 27.2 percent, 7.9 times the rate faced by the bottom 50 percent of taxpayers.

Figure 2.

Taxpayers at the very top of the income distribution, the top 0.1 percent (with AGIs over $2.14 million), paid an even higher average tax rate, of 27.7 percent.

573 $442 $1,015 $458 $1,473 $318
1982 $1,876 $167 $398 $207 $605 $460 $1,065 $478 $1,544 $332
1983 $1,970 $183 $428 $217 $646 $481 $1,127 $498 $1,625 $344
1984 $2,173 $210 $482 $240 $723 $528 $1,251 $543 $1,794 $379
1985 $2,344 $235 $531 $260 $791 $567 $1,359 $580 $1,939 $405
1986 $2,524 $285 $608 $278 $887 $604 $1,490 $613 $2,104 $421
The Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable
1987 $2,814 $347 $722 $316 $1,038 $671 $1,709 $664 $2,374 $440
1988 $3,124 $474 $891 $342 $1,233 $718 $1,951 $707 $2,658 $466
1989 $3,299 $468 $918 $368 $1,287 $768 $2,054 $751 $2,805 $494
1990 $3,451 $483 $953 $385 $1,338 $806 $2,144 $788 $2,933 $519
1991 $3,516 $457 $943 $400 $1,343 $832 $2,175 $809 $2,984 $532
1992 $3,681 $524 $1,031 $413 $1,444 $856 $2,299 $832 $3,131 $549
1993 $3,776 $521 $1,048 $426 $1,474 $883 $2,358 $854 $3,212 $563
1994 $3,961 $547 $1,103 $449 $1,552 $929 $2,481 $890 $3,371 $590
1995 $4,245 $620 $1,223 $482 $1,705 $985 $2,690 $938 $3,628 $617
1996 $4,591 $737 $1,394 $515 $1,909 $1,043 $2,953 $992 $3,944 $646
1997 $5,023 $873 $1,597 $554 $2,151 $1,116 $3,268 $1,060 $4,328 $695
1998 $5,469 $1,010 $1,797 $597 $2,394 $1,196 $3,590 $1,132 $4,721 $748
1999 $5,909 $1,153 $2,012 $641 $2,653 $1,274 $3,927 $1,199 $5,126 $783
2000 $6,424 $1,337 $2,267 $688 $2,955 $1,358 $4,314 $1,276 $5,590 $834
The IRS changed methodology, so data above and below this line not strictly comparable
2001 $6,116 $492 $1,065 $1,934 $666 $2,600 $1,334 $3,933 $1,302 $5,235 $881
2002 $5,982 $421 $960 $1,812 $660 $2,472 $1,339 $3,812 $1,303 $5,115 $867
2003 $6,157 $466 $1,030 $1,908 $679 $2,587 $1,375 $3,962 $1,325 $5,287 $870
2004 $6,735 $615 $1,279 $2,243 $725 $2,968 $1,455 $4,423 $1,403 $5,826 $908
2005 $7,366 $784 $1,561 $2,623 $778 $3,401 $1,540 $4,940 $1,473 $6,413 $953
2006 $7,970 $895 $1,761 $2,918 $841 $3,760 $1,652 $5,412 $1,568 $6,980 $990
2007 $8,622 $1,030 $1,971 $3,223 $905 $4,128 $1,770 $5,898 $1,673 $7,571 $1,051
2008 $8,206 $826 $1,657 $2,868 $905 $3,773 $1,782 $5,555 $1,673 $7,228 $978
2009 $7,579 $602 $1,305 $2,439 $878 $3,317 $1,740 $5,058 $1,620 $6,678 $900
2010 $8,040 $743 $1,517 $2,716 $915 $3,631 $1,800 $5,431 $1,665 $7,096 $944
2011 $8,317 $737 $1,556 $2,819 $956 $3,775 $1,866 $5,641 $1,716 $7,357 $961
2012 $9,042 $1,017 $1,977 $3,331 $997 $4,328 $1,934 $6,262 $1,776 $8,038 $1,004
2013 $9,034 $816 $1,720 $3,109 $1,034 $4,143 $2,008 $6,152 $1,844 $7,996 $1,038
2014 $9,709 $986 $1,998 $3,491 $1,093 $4,583 $2,107 $6,690 $1,924 $8,615 $1,094
Year Total Top 0.1% Top 1% Top 5% Between 5% & 10% Top 10% Between 10% & 25% Top 25% Between 25% & 50% Top 50% Bottom 50%
Table 4. Total Income Tax after Credits, 1980–2014 ($Billions)
Source: Internal Revenue Service.
1980 $249 $47 $92 $31 $123 $59 $182 $50 $232 $18
1981 $282 $50 $99 $36 $135 $69 $204 $57 $261 $21
1982 $276 $53 $100 $34 $134 $66 $200 $56 $256 $20
1983 $272 $55 $101 $34 $135 $64 $199 $54 $252 $19
1984 $297 $63 $113 $37 $150 $68 $219 $57 $276 $22
1985 $322 $70 $125 $41 $166 $73 $238 $60 $299 $23
1986 $367 $94 $156 $44 $201 $78 $279 $64 $343 $24
The Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable
1987 $369 $92 $160 $46 $205 $79 $284 $63 $347 $22
1988 $413 $114 $188 $48 $236 $85 $321 $68 $389 $24
1989 $433 $109 $190 $51 $241 $93 $334 $73 $408 $25
1990 $447 $112 $195 $52 $248 $97 $344 $77 $421 $26
1991 $448 $111 $194 $56 $250 $96 $347 $77 $424 $25
1992 $476 $131 $218 $58 $276 $97 $374 $78 $452 $24
1993 $503 $146 $238 $60 $298 $101 $399 $80 $479 $24
1994 $535 $154 $254 $64 $318 $108 $425 $84 $509 $25
1995 $588 $178 $288 $70 $357 $115 $473 $88 $561 $27
1996 $658 $213 $335 $76 $411 $124 $535 $95 $630 $28
1997 $727 $241 $377 $82 $460 $134 $594 $102 $696 $31
1998 $788 $274 $425 $88 $513 $139 $652 $103 $755 $33
1999 $877 $317 $486 $97 $583 $150 $733 $109 $842 $35
2000 $981 $367 $554 $106 $660 $164 $824 $118 $942 $38
The IRS changed methodology, so data above and below this line not strictly comparable
2001 $885 $139 $294 $462 $101 $564 $158 $722 $120 $842 $43
2002 $794 $120 $263 $420 $93 $513 $143 $657 $104 $761 $33
2003 $746 $115 $251 $399 $85 $484 $133 $617 $98 $715 $30
2004 $829 $142 $301 $467 $91 $558 $137 $695 $102 $797 $32
2005 $932 $176 $361 $549 $98 $647 $145 $793 $106 $898 $33
2006 $1,020 $196 $402 $607 $108 $715 $157 $872 $113 $986 $35
2007 $1,112 $221 $443 $666 $117 $783 $170 $953 $122 $1,075 $37
2008 $1,029 $187 $386 $597 $115 $712 $168 $880 $117 $997 $32
2009 $863 $146 $314 $502 $101 $604 $146 $749 $93 $842 $21
2010 $949 $170 $355 $561 $110 $670 $156 $827 $100 $927 $22
2011 $1,043 $168 $366 $589 $123 $712 $181 $893 $120 $1,012 $30
2012 $1,185 $220 $451 $699 $133 $831 $193 $1,024 $128 $1,152 $33
2013 $1,232 $228 $466 $721 $139 $860 $203 $1,063 $135 $1,198 $34
2014 $1,374 $273 $543 $824 $150 $974 $219 $1,193 $144 $1,337 $38
Year Total Top 0.1% Top 1% Top 5% Between 5% & 10% Top 10% Between 10% & 25% Top 25% Between 25% & 50% Top 50% Bottom 50%
Table 5. Adjusted Gross Income Shares, 1980–2014 (percent of total AGI earned by each group)
Source: Internal Revenue Service.
1980 100% 8.46% 21.01% 11.12% 32.13% 24.57% 56.70% 25.62% 82.32% 17.68%
1981 100% 8.30% 20.78% 11.20% 31.98% 24.69% 56.67% 25.59% 82.25% 17.75%
1982 100% 8.91% 21.23% 11.03% 32.26% 24.53% 56.79% 25.50% 82.29% 17.71%
1983 100% 9.29% 21.74% 11.04% 32.78% 24.44% 57.22% 25.30% 82.52% 17.48%
1984 100% 9.66% 22.19% 11.06% 33.25% 24.31% 57.56% 25.00% 82.56% 17.44%
1985 100% 10.03% 22.67% 11.10% 33.77% 24.21% 57.97% 24.77% 82.74% 17.26%
1986 100% 11.30% 24.11% 11.02% 35.12% 23.92% 59.04% 24.30% 83.34% 16.66%
The Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable
1987 100% 12.32% 25.67% 11.23% 36.90% 23.85% 60.75% 23.62% 84.37% 15.63%
1988 100% 15.16% 28.51% 10.94% 39.45% 22.99% 62.44% 22.63% 85.07% 14.93%
1989 100% 14.19% 27.84% 11.16% 39.00% 23.28% 62.28% 22.76% 85.04% 14.96%
1990 100% 14.00% 27.62% 11.15% 38.77% 23.36% 62.13% 22.84% 84.97% 15.03%
1991 100% 12.99% 26.83% 11.37% 38.20% 23.65% 61.85% 23.01% 84.87% 15.13%
1992 100% 14.23% 28.01% 11.21% 39.23% 23.25% 62.47% 22.61% 85.08% 14.92%
1993 100% 13.79% 27.76% 11.29% 39.05% 23.40% 62.45% 22.63% 85.08% 14.92%
1994 100% 13.80% 27.85% 11.34% 39.19% 23.45% 62.64% 22.48% 85.11% 14.89%
1995 100% 14.60% 28.81% 11.35% 40.16% 23.21% 63.37% 22.09% 85.46% 14.54%
1996 100% 16.04% 30.36% 11.23% 41.59% 22.73% 64.32% 21.60% 85.92% 14.08%
1997 100% 17.38% 31.79% 11.03% 42.83% 22.22% 65.05% 21.11% 86.16% 13.84%
1998 100% 18.47% 32.85% 10.92% 43.77% 21.87% 65.63% 20.69% 86.33% 13.67%
1999 100% 19.51% 34.04% 10.85% 44.89% 21.57% 66.46% 20.29% 86.75% 13.25%
2000 100% 20.81% 35.30% 10.71% 46.01% 21.15% 67.15% 19.86% 87.01% 12.99%
The IRS changed methodology, so data above and below this line not strictly comparable
2001 100% 8.05% 17.41% 31.61% 10.89% 42.50% 21.80% 64.31% 21.29% 85.60% 14.40%
2002 100% 7.04% 16.05% 30.29% 11.04% 41.33% 22.39% 63.71% 21.79% 85.50% 14.50%
2003 100% 7.56% 16.73% 30.99% 11.03% 42.01% 22.33% 64.34% 21.52% 85.87% 14.13%
2004 100% 9.14% 18.99% 33.31% 10.77% 44.07% 21.60% 65.68% 20.83% 86.51% 13.49%
2005 100% 10.64% 21.19% 35.61% 10.56% 46.17% 20.90% 67.07% 19.99% 87.06% 12.94%
2006 100% 11.23% 22.10% 36.62% 10.56% 47.17% 20.73% 67.91% 19.68% 87.58% 12.42%
2007 100% 11.95% 22.86% 37.39% 10.49% 47.88% 20.53% 68.41% 19.40% 87.81% 12.19%
2008 100% 10.06% 20.19% 34.95% 11.03% 45.98% 21.71% 67.69% 20.39% 88.08% 11.92%
2009 100% 7.94% 17.21% 32.18% 11.59% 43.77% 22.96% 66.74% 21.38% 88.12% 11.88%
2010 100% 9.24% 18.87% 33.78% 11.38% 45.17% 22.38% 67.55% 20.71% 88.26% 11.74%
2011 100% 8.86% 18.70% 33.89% 11.50% 45.39% 22.43% 67.82% 20.63% 88.45% 11.55%
2012 100% 11.25% 21.86% 36.84% 11.03% 47.87% 21.39% 69.25% 19.64% 88.90% 11.10%
2013 100% 9.03% 19.04% 34.42% 11.45% 45.87% 22.23% 68.10% 20.41% 88.51% 11.49%
2014 100% 10.16% 20.58% 35.96% 11.25% 47.21% 21.70% 68.91% 19.82% 88.73% 11.27%
Year Total Top 0.1% Top 1% Top 5% Between 5% & 10% Top 10% Between 10% & 25% Top 25% Between 25% & 50% Top 50% Bottom 50%
Table 6. Total Income Tax Shares, 1980–2014 (percent of federal income tax paid by each group)
Source: Internal Revenue Service.
1980 100% 19.05% 36.84% 12.44% 49.28% 23.74% 73.02% 19.93% 92.95% 7.05%
1981 100% 17.58% 35.06% 12.90% 47.96% 24.33% 72.29% 20.26% 92.55% 7.45%
1982 100% 19.03% 36.13% 12.45% 48.59% 23.91% 72.50% 20.15% 92.65% 7.35%
1983 100% 20.32% 37.26% 12.44% 49.71% 23.39% 73.10% 19.73% 92.83% 7.17%
1984 100% 21.12% 37.98% 12.58% 50.56% 22.92% 73.49% 19.16% 92.65% 7.35%
1985 100% 21.81% 38.78% 12.67% 51.46% 22.60% 74.06% 18.77% 92.83% 7.17%
1986 100% 25.75% 42.57% 12.12% 54.69% 21.33% 76.02% 17.52% 93.54% 6.46%
The Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable
1987 100% 24.81% 43.26% 12.35% 55.61% 21.31% 76.92% 17.02% 93.93% 6.07%
1988 100% 27.58% 45.62% 11.66% 57.28% 20.57% 77.84% 16.44% 94.28% 5.72%
1989 100% 25.24% 43.94% 11.85% 55.78% 21.44% 77.22% 16.94% 94.17% 5.83%
1990 100% 25.13% 43.64% 11.73% 55.36% 21.66% 77.02% 17.16% 94.19% 5.81%
1991 100% 24.82% 43.38% 12.45% 55.82% 21.46% 77.29% 17.23% 94.52% 5.48%
1992 100% 27.54% 45.88% 12.12% 58.01% 20.47% 78.48% 16.46% 94.94% 5.06%
1993 100% 29.01% 47.36% 11.88% 59.24% 20.03% 79.27% 15.92% 95.19% 4.81%
1994 100% 28.86% 47.52% 11.93% 59.45% 20.10% 79.55% 15.68% 95.23% 4.77%
1995 100% 30.26% 48.91% 11.84% 60.75% 19.62% 80.36% 15.03% 95.39% 4.61%
1996 100% 32.31% 50.97% 11.54% 62.51% 18.80% 81.32% 14.36% 95.68% 4.32%
1997 100% 33.17% 51.87% 11.33% 63.20% 18.47% 81.67% 14.05% 95.72% 4.28%
1998 100% 34.75% 53.84% 11.20% 65.04% 17.65% 82.69% 13.10% 95.79% 4.21%
1999 100% 36.18% 55.45% 11.00% 66.45% 17.09% 83.54% 12.46% 96.00% 4.00%
2000 100% 37.42% 56.47% 10.86% 67.33% 16.68% 84.01% 12.08% 96.09% 3.91%
The IRS changed methodology, so data above and below this line not strictly comparable
2001 100% 15.68% 33.22% 52.24% 11.44% 63.68% 17.88% 81.56% 13.54% 95.10% 4.90%
2002 100% 15.09% 33.09% 52.86% 11.77% 64.63% 18.04% 82.67% 13.12% 95.79% 4.21%
2003 100% 15.37% 33.69% 53.54% 11.35% 64.89% 17.87% 82.76% 13.17% 95.93% 4.07%
2004 100% 17.12% 36.28% 56.35% 10.96% 67.30% 16.52% 83.82% 12.31% 96.13% 3.87%
2005 100% 18.91% 38.78% 58.93% 10.52% 69.46% 15.61% 85.07% 11.35% 96.41% 3.59%
2006 100% 19.24% 39.36% 59.49% 10.59% 70.08% 15.41% 85.49% 11.10% 96.59% 3.41%
2007 100% 19.84% 39.81% 59.90% 10.51% 70.41% 15.30% 85.71% 10.93% 96.64% 3.36%
2008 100% 18.20% 37.51% 58.06% 11.14% 69.20% 16.37% 85.57% 11.33% 96.90% 3.10%
2009 100% 16.91% 36.34% 58.17% 11.72% 69.89% 16.85% 86.74% 10.80% 97.54% 2.46%
2010 100% 17.88% 37.38% 59.07% 11.55% 70.62% 16.49% 87.11% 10.53% 97.64% 2.36%
2011 100% 16.14% 35.06% 56.49% 11.77% 68.26% 17.36% 85.62% 11.50% 97.11% 2.89%
2012 100% 18.60% 38.09% 58.95% 11.22% 70.17% 16.25% 86.42% 10.80% 97.22% 2.78%
2013 100% 18.48% 37.80% 58.55% 11.25% 69.80% 16.47% 86.27% 10.94% 97.22% 2.78%
2014 100% 19.85% 39.48% 59.97% 10.91% 70.88% 15.90% 86.78% 10.47% 97.25% 2.75%
Year Total Top 1% Top 5% Top 10% Top 25% Top 50%
Table 7. Dollar Cut-Off, 1980–2014 (Minimum AGI for Tax Returns to Fall into Various Percentiles; Thresholds Not Adjusted for Inflation)
1980 $80,580 $43,792 $35,070 $23,606 $12,936
1981 $85,428 $47,845 $38,283 $25,655 $14,000
1982 $89,388 $49,284 $39,676 $27,027 $14,539
1983 $93,512 $51,553 $41,222 $27,827 $15,044
1984 $100,889 $55,423 $43,956 $29,360 $15,998
1985 $108,134 $58,883 $46,322 $30,928 $16,688
1986 $118,818 $62,377 $48,656 $32,242 $17,302
The Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable
1987 $139,289 $68,414 $52,921 $33,983 $17,768
1988 $157,136 $72,735 $55,437 $35,398 $18,367
1989 $163,869 $76,933 $58,263 $36,839 $18,993
1990 $167,421 $79,064 $60,287 $38,080 $19,767
1991 $170,139 $81,720 $61,944 $38,929 $20,097
1992 $181,904 $85,103 $64,457 $40,378 $20,803
1993 $185,715 $87,386 $66,077 $41,210 $21,179
1994 $195,726 $91,226 $68,753 $42,742 $21,802
1995 $209,406 $96,221 $72,094 $44,207 $22,344
1996 $227,546 $101,141 $74,986 $45,757 $23,174
1997 $250,736 $108,048 $79,212 $48,173 $24,393
1998 $269,496 $114,729 $83,220 $50,607 $25,491
1999 $293,415 $120,846 $87,682 $52,965 $26,415
2000 $313,469 $128,336 $92,144 $55,225 $27,682
The IRS changed methodology, so data above and below this line not strictly comparable
2001 $1,393,718 $306,635 $132,082 $96,151 $59,026 $31,418
2002 $1,245,352 $296,194 $130,750 $95,699 $59,066 $31,299
2003 $1,317,088 $305,939 $133,741 $97,470 $59,896 $31,447
2004 $1,617,918 $339,993 $140,758 $101,838 $62,794 $32,622
2005 $1,938,175 $379,261 $149,216 $106,864 $64,821 $33,484
2006 $2,124,625 $402,603 $157,390 $112,016 $67,291 $34,417
2007 $2,251,017 $426,439 $164,883 $116,396 $69,559 $35,541
2008 $1,867,652 $392,513 $163,512 $116,813 $69,813 $35,340
2009 $1,469,393 $351,968 $157,342 $114,181 $68,216 $34,156
2010 $1,634,386 $369,691 $161,579 $116,623 $69,126 $34,338
2011 $1,717,675 $388,905 $167,728 $120,136 $70,492 $34,823
2012 $2,161,175 $434,682 $175,817 $125,195 $73,354 $36,055
2013 $1,860,848 $428,713 $179,760 $127,695 $74,955 $36,841
2014 $2,136,762 $465,626 $188,996 $133,445 $77,714 $38,173
Source: Internal Revenue Service.
Year Total Top 0.1% Top 1% Top 5% Between 5% & 10% Top 10% Between 10% & 25% Top 25% Between 25% & 50% Top 50% Bottom 50%
Table 8. Average Tax Rate, 1980–2014 (Percent of AGI Paid in Income Taxes)
Source: Internal Revenue Service.
1980 15.31% 34.47% 26.85% 17.13% 23.49% 14.80% 19.72% 11.91% 17.29% 6.10%
1981 15.76% 33.37% 26.59% 18.16% 23.64% 15.53% 20.11% 12.48% 17.73% 6.62%
1982 14.72% 31.43% 25.05% 16.61% 22.17% 14.35% 18.79% 11.63% 16.57% 6.10%
1983 13.79% 30.18% 23.64% 15.54% 20.91% 13.20% 17.62% 10.76% 15.52% 5.66%
1984 13.68% 29.92% 23.42% 15.57% 20.81% 12.90% 17.47% 10.48% 15.35% 5.77%
1985 13.73% 29.86% 23.50% 15.69% 20.93% 12.83% 17.55% 10.41% 15.41% 5.70%
1986 14.54% 33.13% 25.68% 15.99% 22.64% 12.97% 18.72% 10.48% 16.32% 5.63%
The Tax Reform Act of 1986 changed the definition of AGI, so data above and below this line not strictly comparable
1987 13.12% 26.41% 22.10% 14.43% 19.77% 11.71% 16.61% 9.45% 14.60% 5.09%
1988 13.21% 24.04% 21.14% 14.07% 19.18% 11.82% 16.47% 9.60% 14.64% 5.06%
1989 13.12% 23.34% 20.71% 13.93% 18.77% 12.08% 16.27% 9.77% 14.53% 5.11%
1990 12.95% 23.25% 20.46% 13.63% 18.50% 12.01% 16.06% 9.73% 14.36% 5.01%
1991 12.75% 24.37% 20.62% 13.96% 18.63% 11.57% 15.93% 9.55% 14.20% 4.62%
1992 12.94% 25.05% 21.19% 13.99% 19.13% 11.39% 16.25% 9.42% 14.44% 4.39%
1993 13.32% 28.01% 22.71% 14.01% 20.20% 11.40% 16.90% 9.37% 14.90% 4.29%
1994 13.50% 28.23% 23.04% 14.20% 20.48% 11.57% 17.15% 9.42% 15.11% 4.32%
1995 13.86% 28.73% 23.53% 14.46% 20.97% 11.71% 17.58% 9.43% 15.47% 4.39%
1996 14.34% 28.87% 24.07% 14.74% 21.55% 11.86% 18.12% 9.53% 15.96% 4.40%
1997 14.48% 27.64% 23.62% 14.87% 21.36% 12.04% 18.18% 9.63% 16.09% 4.48%
1998 14.42% 27.12% 23.63% 14.79% 21.42% 11.63% 18.16% 9.12% 16.00% 4.44%
1999 14.85% 27.53% 24.18% 15.06% 21.98% 11.76% 18.66% 9.12% 16.43% 4.48%
2000 15.26% 27.45% 24.42% 15.48% 22.34% 12.04% 19.09% 9.28% 16.86% 4.60%
The IRS changed methodology, so data above and below this line not strictly comparable
2001 14.47% 28.17% 27.60% 23.91% 15.20% 21.68% 11.87% 18.35% 9.20% 16.08% 4.92%
2002 13.28% 28.48% 27.37% 23.17% 14.15% 20.76% 10.70% 17.23% 8.00% 14.87% 3.86%
2003 12.11% 24.60% 24.38% 20.92% 12.46% 18.70% 9.69% 15.57% 7.41% 13.53% 3.49%
2004 12.31% 23.06% 23.52% 20.83% 12.53% 18.80% 9.41% 15.71% 7.27% 13.68% 3.53%
2005 12.65% 22.48% 23.15% 20.93% 12.61% 19.03% 9.45% 16.04% 7.18% 14.01% 3.51%
2006 12.80% 21.94% 22.80% 20.80% 12.84% 19.02% 9.52% 16.12% 7.22% 14.12% 3.51%
2007 12.90% 21.42% 22.46% 20.66% 12.92% 18.96% 9.61% 16.16% 7.27% 14.19% 3.56%
2008 12.54% 22.67% 23.29% 20.83% 12.66% 18.87% 9.45% 15.85% 6.97% 13.79% 3.26%
2009 11.39% 24.28% 24.05% 20.59% 11.53% 18.19% 8.36% 14.81% 5.76% 12.61% 2.35%
2010 11.81% 22.84% 23.39% 20.64% 11.98% 18.46% 8.70% 15.22% 6.01% 13.06% 2.37%
2011 12.54% 22.82% 23.50% 20.89% 12.83% 18.85% 9.70% 15.82% 6.98% 13.76% 3.13%
2012 13.11% 21.67% 22.83% 20.97% 13.33% 19.21% 9.96% 16.35% 7.21% 14.33% 3.28%
2013 13.64% 27.91% 27.08% 23.20% 13.40% 20.75% 10.11% 17.28% 7.31% 14.98% 3.30%
2014 14.16% 27.67% 27.16% 23.61% 13.73% 21.25% 10.37% 17.83% 7.48% 15.52% 3.45%
  1. For data prior to 2001, all tax returns that have a positive AGI are included, even those that do not have a positive income tax liability. For data from 2001 forward, returns with negative AGI are also included, but dependent returns are excluded.
  2. Income tax after credits (the measure of “income taxes paid” above) does not account for the refundable portion of EITC. If it were included, the tax share of the top income groups would be higher. The refundable portion is classified as a spending program by the Office of Management and Budget and therefore is not included by the IRS in these figures.
  3. The only tax analyzed here is the federal individual income tax, which is responsible for more than 25 percent of the nation’s taxes paid (at all levels of government). Federal income taxes are much more progressive than federal payroll taxes, which are responsible for about 20 percent of all taxes paid (at all levels of government), and are more progressive than most state and local taxes.
  4. AGI is a fairly narrow income concept and does not include income items like government transfers (except for the portion of Social Security benefits that is taxed), the value of employer-provided health insurance, underreported or unreported income (most notably that of sole proprietors), income derived from municipal bond interest, net imputed rental income, and others.
  5. The unit of analysis here is that of the tax return. In the figures prior to 2001, some dependent returns are included. Under other units of analysis (like the Treasury Department’s Family Economic Unit), these returns would likely be paired with parents’ returns.
  6. These figures represent the legal incidence of the income tax. Most distributional tables (such as those from CBO, Tax Policy Center, Citizens for Tax Justice, the Treasury Department, and JCT) assume that the entire economic incidence of personal income taxes falls on the income earner.

[1] Individual Income Tax Rates and Tax Shares, Internal Revenue Service Statistics of Income, http://www.irs.gov/uac/SOI-Tax-Stats-Individual-Income-Tax-Rates-and-Tax-Shares.

[2] See Congressional Budget Office, The Budget and Economic Outlook: 2017 to 2027, Jan. 2017, https://www.cbo.gov/sites/default/files/115th-congress-2017-2018/reports/52370-outlook.pdf.

[3] There is strong reason to believe that capital gains realizations were unusually depressed in 2013, due to the increase in the top capital gains tax rate from 15 percent to 23.8 percent. In 2013, capital gains accounted for 26.6 percent of the income of taxpayers with over $1 million in AGI received, compared to 31.7 percent in 2014 (these calculations apply for net capital gains reported on Schedule D). Table 1.4, Publication 1304, “Individual Income Tax Returns 2014,” Internal Revenue Service, https://www.irs.gov/uac/soi-tax-stats-individual-income-tax-returns-publication-1304-complete-report.

[4] Here, “average income tax rate” is defined as income taxes paid divided by adjusted gross income.

https://taxfoundation.org/summary-latest-federal-income-tax-data-2016-update/

 

Story 2: Secretary of Health and Human Resources Thomas Price Resigns and President Trump Accepts After Trump Outraged Over Use Expensive Private Chartered Jet Flight To Conduct Government Business — Don Wright to serve as acting secretary of the HHS — Videos —

The Real Reason Tom Price Resigned | The Last Word | MSNBC

Tom Price: From Private Jets To Private Citizen

Chris Wallace Takes On Tom Price to Pay For Charter Flights

President Trump GRILLED on Tom Price Resigns, Puerto Rico & NFL owners players press conference

What A Waste: Tom Price’s Private Jet Trips

Will HHS Secretary Tom Price Keep His Job? | Morning Joe | MSNBC

Guess What Private Jet Scold Tom Price Is Up To

Price resigns from HHS after facing fire for travel

His exit comes after POLITICO revealed his extensive use of private jets and military aircraft for government business.

Updated 

HHS Secretary Tom Price resigned Friday in the face of multiple federal inquiries and growing criticism of his use of private and government planes for travel, at a cost to taxpayers of more than $1 million since May.

The White House said the former seven-term Georgia congressman, 63, offered his resignation earlier in the day and that President Donald Trump had accepted it.

As late as Thursday, Price said he believed he had the president’s support. But the tumult surrounding his travel became another distraction for an administration already reeling from the defeat of repeated Senate efforts to repeal Obamacare and facing criticism for its hurricane relief efforts in Puerto Rico.

In his resignation letter, Price expressed regret that “recent events” distracted from efforts to overhaul the health care system, reduce regulatory burdens and improve global health. “In order for you to move forward without further disruption, I am officially tendering my resignation as the Secretary of Health and Human Services effective 11:59 PM on Friday,” Price wrote.

Tom Price resigns as Trump administration health chief after outrage over pricey private jet flights

  • Health and Human Services Secretary Tom Price resigned Friday after criticism over his repeatedly taking expensive private jets instead of commercial flights.
  • Price’s private travel, added to his use of military jets for overseas trips, has cost taxpayers more than $1 million.
  • Price said he will reimburse the government just a fraction of the cost of the flights.

Senate Democrats quickly served notice they were preparing for a potential confirmation fight over Price’s successor, saying the next HHS secretary must not undermine Obamacare. Under Price, the department cut the law’s enrollment period in half and massively slashed advertising and outreach for the upcoming enrollment period starting in November.

“The mission of the Health and Human Services secretary should be to support Americans’ health care, not take it away,” said Senate Minority Leader Chuck Schumer. “The next HHS secretary must follow the law when it comes to the Affordable Care Act instead of trying to sabotage it.”

“Tom Price’s replacement needs to be focused on implementing the law as written by Congress and keeping the president’s promise to bring down the high cost of prescription drugs,” Senate Finance ranking Democrat Ron Wyden of Oregon said in a statement.

House Speaker Paul Ryan, a close ally, praised Price as a dedicated public servant who fought for others. “His vision and hard work were vital to the House’s success passing our health care legislation,” Ryan said in a statement.

POLITICO revealed in a series of articles that Price flew at least 26 times on private aircraft at a cost of hundreds of thousands of dollars, a sharp break with his predecessors’ practice. Many of Price’s flights were between major cities that offered inexpensive alternatives on commercial airlines, including Nashville, Philadelphia and San Diego.

On some of those trips, Price, an orthopedic surgeon, mixed official business with personal affairs. He took a government-funded private jet in August to get to St. Simons Island, an exclusive Georgia resort where he and his wife own land, a day and a half before he addressed a medical conference he and his wife have long attended. In June, HHS chartered a private jet to fly Price to Nashville, where he owns a condominium and where his son resides. Price toured a medicine dispensary, spoke to a local health summit organized by a friend and had lunch with his son, an HHS official confirmed.

Price also used military aircraft for multi-national trips to Africa, Europe and Asia, at a cost of more than $500,000 to taxpayersThe White House said it had approved those trips but not the private jets within the United States.

Price tried to defuse the controversy by promising on Thursday to reimburse the government for the approximately $52,000 cost of his own seat on his domestic trips. But that wasn’t enough to tamp down the scandal, which had infuriatedPresident Donald Trump and prompted a bipartisan inquiry from the House Oversight Committee and separate calls for accountability from lawmakers including Republican Sen. Chuck Grassley. The inspector general of Price’s own agency is reviewing if Price complied with federal travel regulations.

The issue of Cabinet members’ travel was also extending beyond Price: POLITICO reported Interior Secretary Ryan Zinke and his aides took several flights on private or military aircraft, including a $12,000 charter plane to take him to events in his hometown in Montana and private flights in the Caribbean. Zinke dismissed the furor as a “little B.S.” during a Friday appearance at the Heritage Foundation.

Price’s wife, Betty, accompanied him on the military flights, while other members of the secretary’s delegation flew commercially to Europe.

HHS spokeswoman Charmaine Yoest said Price reimbursed the agency for his wife’s travel, but declined to elaborate.

White House officials have groused about Price’s frequent travels, with one senior White House official saying the HHS secretary was “nowhere to be found” as they mounted a last-ditch unsuccessful push to repeal Obamacare.

Congressional Democrats attacked Price for advocating spending cuts to the health agencies he oversaw and health care programs while spending taxpayer dollars on private jets. “There could not be a clearer statement of the Trump administration’s priorities,” Sen. Maggie Hassan (D-N.H.) said. Key Democrats overseeing health issues in Congress had formally requested that HHS’s inspector general review Price’s travel practices.

In June, Price defended a proposed fiscal 2018 budget for HHS that included a $663,000 cut to the agency’s $4.9 million annual spending on travel, or roughly 15 percent. “The budgeting process is an exercise in reforming our federal programs to make sure they actually work — so they do their job and use tax dollars wisely,” Price told the Senate Finance Committee on June 8.

Ethical questions dogged Price even before questions about his travel arose. During his Senate confirmation hearing to helm HHS, Price faced pointed questions about his personal investments in health care companies during his time in Congress. Democrats called on government ethics officials to investigate Price’s health care stock trades, following reports that he got a sweetheart deal from a biotech company and invested in Zimmer Biomet, a medical device-maker, just days before writing legislation that would have eased regulations on the sector.

The Senate confirmed Price by a 52-47 margin in February after he maintained full Republican support.

 

http://www.politico.com/story/2017/09/29/price-has-resigned-as-health-and-human-services-secretary-243315

Jacob Pramuk | Dan Mangan

Health and Human Services Secretary Tom Price.

Tom Price out as HHS Secretary

Tom Price, secretary of the U.S. Health and Human Services Department, resigned Friday amid a furor over his taking more than two dozen costly private plane trips instead of less-expensive commercial flights.

The White House in a statement said that President Donald Trump intends to tap a top HHS official, Don Wright, to serve as acting secretary of the department

Wright currently serves as deputy assistant secretary for health and director of the Office of Disease Prevention and Health Promotion.

“Secretary of Health and Human Services Thomas Price offered his resignation earlier today and the President accepted,” the White House said, about an hour after Trump said he would decide by Friday night whether to fire Price.

Price’s resignation came a day after he said he would reimburse taxpayers for just a small fraction of the cost of his flights, and after he vowed to not use charter planes in the future.

A longtime critic of wasteful federal spending and the administration’s putative point man on attacking Obamacare — Price had taken 26 flights on charter plans since May, according to a Politico investigation.

In June, Price traveled on a $17,760 roundtrip charter from Washington to Nashville, Tennessee, Politico revealed. He spent less than six hours there, making two official appearances and eating lunch with his son.

In a four-day stretch in September, Price took flights costing an estimated $60,000 in total, according to Politico. Some of those flights came at times when dramatically cheaper commercial air travel would have been available.

Politico on Thursday reported that Price had also taken trips overseas using military jets, at a cost of more than $500,000 — putting the total tab for his penchant for pricey travel above $1 million.

Also Thursday, BuzzFeed News reported that Price had asked a White House official soon after taking office to tell Trump that he wanted to reopen the executive dining room at HHS, which had been closed since George W. Bush was president.

Price, who only became health secretary in February, was reportedly already on thin ice with top officials in the Trump administration when the controversy exploded over his pricey jet jaunts.

Those officials believed he did not do enough in recent weeks to support an ultimately doomed, last-ditch effort in Congress to repeal and replace major parts of the Affordable Care Act, or Obamacare.

Price’s department for months has been taking steps to undercut that major health-care law — gutting advertising budgets designed to promote enrollment in Obamacare plans, suspending joint efforts with state-level groups to encourage insurance sign-ups and bad-mouthing Obamacare at every opportunity.

But he was noticeably absent at meetings to promote the passage of the Senate repeal bill, Graham-Cassidy, in September, Politico reported. That bill would have dramatically slashed federal spending on subsidizing health insurance coverage for Americans.

On Wednesday, President Donald Trump told reporters “I am not happy about” Price’s use of private planes, “and I let him know it.”

“We’ll see,” Trump said, when asked if he would fire Price.

Price on Thursday had tried to tamp down the controversy by saying he would repay the government for the cost of “my seat” on the charter flights. Price said he will pay about $52,000 of the more than $400,000 taxpayer tab for his private trips.

The offer was immediately met with derision by critics who said Price was shortchanging taxpayers.

The 62-year-old Price, a former House member from Georgia, was a prominent critic of Obamacare while serving in Congress.

He also had billed himself as a staunch fiscal conservative with a record of pushing for government spending discipline.

Price leaves the Trump administration after the latest in an unsuccessful string of Republican attempts to repeal and replace the Affordable Care Act.

His departure also comes amid broader concerns about the ethical standards of the Trump administration and its top officials.

While Price has said he received prior approval from legal and HHS advisors for his private flights, his use of charters was in stark contrast to that of his two immediate predecessors as chief of HHS, Sylvia Burwell and Kathleen Sebelius, who took commercial flights to domestic engagements.

HHS’ inspector general is now reviewing Price’s use of private planes.

Environmental Protection Agency Administrator Scott Pruitt also has racked up a $58,000 bill on noncommercial and military flights since mid-February, according to The Washington Post.

In a letter to Trump on Thursday, Sen. Chuck Grassley, R-Iowa, pointed out that “federal regulations specifically prohibit official travel by chartered jet when it is not the most cost-effective mode of travel ‘because the taxpayer should pay no more than necessary for your transportation.'”

Grassley asked Trump to urge his Cabinet secretaries to use “reasonable and cost-effective modes of travel.”

The senator noted that in addition to questions about the travel habits of Price and Pruitt, the inspector general of the Treasury Department is investigating the travel expenses of Treasury Secretary Steven Mnuchin.

During his Senate confirmation hearings as HHS secretary, Price was criticized for having traded more than $300,000 worth of about 40 health-care stocks in the previous four years, which involved companies that could have benefited from legislation he favored as a House member.

For one of those companies, the small Australian biotech firm Innate Immunotherapeutics, Price was offered the opportunity to buy shares at a discount, while sitting on a committee that could affect the financial outlook of the firm.

Price eventually sold his stake in the company during the HHS confirmation process and made a profit of at least $225,000 on a $94,000 investment, according to The Wall Street Journal.

Price during his Senate hearings denied that he invested using nonpublic information.

“Everything that we have done is absolutely aboveboard, transparent, legal and ethical,” he said at the time.

https://www.cnbc.com/2017/09/29/price-out-as-trump-health-chief-after-outrage-over-private-jet-flights.html

 

Tom Price Resigns Under Pressure

Tom Price, the health and human services secretary, resigned on Friday. Mr. Price drew criticism for his use of expensive chartered flights, which undermined President Trump’s promise to “drain the swamp” of an entitled capital.

 By CHRIS CIRILLO, GLENN THRUSH and A.J. CHAVAR on Publish DateSeptember 29, 2017. Photo by Doug Mills/The New York Times

.Watch in Times Video »WASHINGTON — Tom Price, the health and human services secretary, resigned under pressure on Friday after racking up at least $400,000 in travel bills for chartered flights and undermining President Trump’s promise to drain the swamp of a corrupt and entitled capital.

Already in trouble with Mr. Trump for months of unsuccessful efforts to repeal and replace President Barack Obama’s health care program, Mr. Price failed to defuse the president’s anger over his high-priced travel by agreeing to pay a portion of the cost and expressing “regret” for his actions.

In a statement, the White House said that Mr. Price “offered his resignation earlier today and the president accepted.”

It said Mr. Trump will tap Don J. Wright of Virginia to serve as acting secretary at midnight Friday. Mr. Wright currently serves as the deputy assistant secretary for health and as director of the Office of Disease Prevention and Health Promotion.

Mr. Price’s resignation came barely an hour after Mr. Trump publicly dressed him down for the second time in a week and said he would decide whether to fire the secretary by the end of the day. “I’m not happy, O.K.?” the president told reporters before boarding a helicopter as he headed to his New Jersey golf club for the weekend. “I can tell you, I’m not happy.”

Mr. Price’s job was on the line ever since the first of a string of reports by Politico on Sept. 19 about his extensive use of charter aircraft. Mr. Trump has fumed privately and publicly about Mr. Price’s actions, fearing that they undercut his promise to rid Washington of the sort of abuses that have soured the public on its political class. The president made clear on Friday that he also saw it as undermining his promise to save the government money, citing efforts to renegotiate contracts.

Mr. Price, a career physician and former congressman who had long opposed Mr. Obama’s Affordable Care Act, had been a point man on the drive to scrap the law. In July, Mr. Trump said he would fire Mr. Price if he did not get the votes for the legislation. “He better get them,” Mr. Trump told an audience with Mr. Price at his side. “Otherwise, I’ll say, ‘Tom, you’re fired.’”

He said it in a jocular fashion, and his audience at the time took it as a jest, but in fact the president has been privately fuming about Mr. Price over the unsuccessful efforts to pass health care legislation in the Senate. The latest effort collapsed this week when enough Republicans defected to deprive Mr. Trump of a majority.

 

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Shows 970-975

Listen To Pronk Pops Podcast or Download Shows 963-969

Listen To Pronk Pops Podcast or Download Shows 955-962

Listen To Pronk Pops Podcast or Download Shows 946-954

Listen To Pronk Pops Podcast or Download Shows 938-945

Listen To Pronk Pops Podcast or Download Shows 926-937

Listen To Pronk Pops Podcast or Download Shows 916-925

Listen To Pronk Pops Podcast or Download Shows 906-915

Listen To Pronk Pops Podcast or Download Shows 889-896

Listen To Pronk Pops Podcast or Download Shows 884-888

Listen To Pronk Pops Podcast or Download Shows 878-883

Listen To Pronk Pops Podcast or Download Shows 870-877

Listen To Pronk Pops Podcast or Download Shows 864-869

Listen To Pronk Pops Podcast or Download Shows 857-863

Listen To Pronk Pops Podcast or Download Shows 850-856

Listen To Pronk Pops Podcast or Download Shows 845-849

Listen To Pronk Pops Podcast or Download Shows 840-844

Listen To Pronk Pops Podcast or Download Shows 833-839

Listen To Pronk Pops Podcast or Download Shows 827-832

Listen To Pronk Pops Podcast or Download Shows 821-826

Listen To Pronk Pops Podcast or Download Shows 815-820

Listen To Pronk Pops Podcast or Download Shows 806-814

Listen To Pronk Pops Podcast or Download Shows 800-805

Listen To Pronk Pops Podcast or Download Shows 793-799

Listen To Pronk Pops Podcast or Download Shows 785-792

Listen To Pronk Pops Podcast or Download Shows 777-784

Listen To Pronk Pops Podcast or Download Shows 769-776

Listen To Pronk Pops Podcast or Download Shows 759-768

Listen To Pronk Pops Podcast or Download Shows 751-758

Listen To Pronk Pops Podcast or Download Shows 745-750

Listen To Pronk Pops Podcast or Download Shows 738-744

Listen To Pronk Pops Podcast or Download Shows 732-737

Listen To Pronk Pops Podcast or Download Shows 727-731

Listen To Pronk Pops Podcast or Download Shows 720-726

Listen To Pronk Pops Podcast or DownloadShows 713-719

Listen To Pronk Pops Podcast or DownloadShows 705-712

Listen To Pronk Pops Podcast or Download Shows 695-704

Listen To Pronk Pops Podcast or Download Shows 685-694

Listen To Pronk Pops Podcast or Download Shows 675-684

Listen To Pronk Pops Podcast or Download Shows 668-674

Listen To Pronk Pops Podcast or Download Shows 660-667

Listen To Pronk Pops Podcast or Download Shows 651-659

Listen To Pronk Pops Podcast or Download Shows 644-650

Listen To Pronk Pops Podcast or Download Shows 637-643

Listen To Pronk Pops Podcast or Download Shows 629-636

Listen To Pronk Pops Podcast or Download Shows 617-628

Listen To Pronk Pops Podcast or Download Shows 608-616

Listen To Pronk Pops Podcast or Download Shows 599-607

Listen To Pronk Pops Podcast or Download Shows 590-598

Listen To Pronk Pops Podcast or Download Shows 585- 589

Listen To Pronk Pops Podcast or Download Shows 575-584

Listen To Pronk Pops Podcast or Download Shows 565-574

Listen To Pronk Pops Podcast or Download Shows 556-564

Listen To Pronk Pops Podcast or Download Shows 546-555

Listen To Pronk Pops Podcast or Download Shows 538-545

Listen To Pronk Pops Podcast or Download Shows 532-537

Listen To Pronk Pops Podcast or Download Shows 526-531

Listen To Pronk Pops Podcast or Download Shows 519-525

Listen To Pronk Pops Podcast or Download Shows 510-518

Listen To Pronk Pops Podcast or Download Shows 500-509

Listen To Pronk Pops Podcast or Download Shows 490-499

Listen To Pronk Pops Podcast or Download Shows 480-489

Listen To Pronk Pops Podcast or Download Shows 473-479

Listen To Pronk Pops Podcast or Download Shows 464-472

Listen To Pronk Pops Podcast or Download Shows 455-463

Listen To Pronk Pops Podcast or Download Shows 447-454

Listen To Pronk Pops Podcast or Download Shows 439-446

Listen To Pronk Pops Podcast or Download Shows 431-438

Listen To Pronk Pops Podcast or Download Shows 422-430

Listen To Pronk Pops Podcast or Download Shows 414-421

Listen To Pronk Pops Podcast or Download Shows 408-413

Listen To Pronk Pops Podcast or Download Shows 400-407

Listen To Pronk Pops Podcast or Download Shows 391-399

Listen To Pronk Pops Podcast or Download Shows 383-390

Listen To Pronk Pops Podcast or Download Shows 376-382

Listen To Pronk Pops Podcast or Download Shows 369-375

Listen To Pronk Pops Podcast or Download Shows 360-368

Listen To Pronk Pops Podcast or Download Shows 354-359

Listen To Pronk Pops Podcast or Download Shows 346-353

Listen To Pronk Pops Podcast or Download Shows 338-345

Listen To Pronk Pops Podcast or Download Shows 328-337

Listen To Pronk Pops Podcast or Download Shows 319-327

Listen To Pronk Pops Podcast or Download Shows 307-318

Listen To Pronk Pops Podcast or Download Shows 296-306

Listen To Pronk Pops Podcast or Download Shows 287-295

Listen To Pronk Pops Podcast or Download Shows 277-286

Listen To Pronk Pops Podcast or Download Shows 264-276

Listen To Pronk Pops Podcast or Download Shows 250-263

Listen To Pronk Pops Podcast or Download Shows 236-249

Listen To Pronk Pops Podcast or Download Shows 222-235

Listen To Pronk Pops Podcast or Download Shows 211-221

Listen To Pronk Pops Podcast or Download Shows 202-210

Listen To Pronk Pops Podcast or Download Shows 194-201

Listen To Pronk Pops Podcast or Download Shows 184-193

Listen To Pronk Pops Podcast or Download Shows 174-183

Listen To Pronk Pops Podcast or Download Shows 165-173

Listen To Pronk Pops Podcast or Download Shows 158-164

Listen To Pronk Pops Podcast or Download Shows 151-157

Listen To Pronk Pops Podcast or Download Shows 143-150

Listen To Pronk Pops Podcast or Download Shows 135-142

Listen To Pronk Pops Podcast or Download Shows 131-134

Listen To Pronk Pops Podcast or Download Shows 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Show 93

Listen To Pronk Pops Podcast or Download Show 92

Listen To Pronk Pops Podcast or Download Show 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

 

 

Read Full Post | Make a Comment ( None so far )

The Pronk Pops Show 755, Part 1 of 2, Story 1: President Trump’s Tax Speech — Very Light On Specifics — Let Congress Fill in The Details — Formula For Failure — Tax Rate Cuts Are Not Fundamental Tax Reform — A Broad Based Consumption Tax Such as The FairTax or Fair Tax Less Not Even Mentioned — What Good Is Dreaming It If You don’t actually do it! — Videos — Story 2: Revised Second Estimate of Real GDP Growth in Second Quarter of 2017 Is 3 Percent — Videos

Posted on August 31, 2017. Filed under: Blogroll, Breaking News, Budgetary Policy, Communications, Congress, Constitutional Law, Corruption, Culture, Defense Spending, Donald J. Trump, Donald Trump, Economics, Education, Elections, Empires, Employment, Energy, Federal Government, Fiscal Policy, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, History, House of Representatives, Human, Human Behavior, Independence, Labor Economics, Law, Life, Media, Monetary Policy, Natural Gas, Natural Gas, Oil, Oil, People, Philosophy, Photos, Politics, Polls, President Trump, Progressives, Radio, Raymond Thomas Pronk, Regulation, Resources, Rule of Law, Security, Senate, Tax Policy, Taxation, Taxes, Technology, Trade Policy, Unemployment, United States of America, Videos, War, Wealth, Weather, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 955, August 30, 2017

Pronk Pops Show 954, August 29, 2017

Pronk Pops Show 953, August 28, 2017

Pronk Pops Show 952, August 25, 2017

Pronk Pops Show 951, August 24, 2017

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

Pronk Pops Show 939,  August 2, 2017

Pronk Pops Show 938, August 1, 2017

Pronk Pops Show 937, July 31, 2017

Pronk Pops Show 936, July 27, 2017

Pronk Pops Show 935, July 26, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 934, July 25, 2017

Pronk Pops Show 933, July 24, 2017

Pronk Pops Show 932, July 20, 2017

Pronk Pops Show 931, July 19, 2017

Pronk Pops Show 930, July 18, 2017

Pronk Pops Show 929, July 17, 2017

Pronk Pops Show 928, July 13, 2017

Pronk Pops Show 927, July 12, 2017

Pronk Pops Show 926, July 11, 2017

Pronk Pops Show 925, July 10, 2017

Pronk Pops Show 924, July 6, 2017

Pronk Pops Show 923, July 5, 2017

Pronk Pops Show 922, July 3, 2017

Pronk Pops Show 921, June 29, 2017

Pronk Pops Show 920, June 28, 2017

Pronk Pops Show 919, June 27, 2017

Pronk Pops Show 918, June 26, 2017

Pronk Pops Show 917, June 22, 2017

Pronk Pops Show 916, June 21, 2017

Pronk Pops Show 915, June 20, 2017

Pronk Pops Show 914, June 19, 2017

Pronk Pops Show 913, June 16, 2017

Pronk Pops Show 912, June 15, 2017

Pronk Pops Show 911, June 14, 2017

Pronk Pops Show 910, June 13, 2017

Pronk Pops Show 909, June 12, 2017

Pronk Pops Show 908, June 9, 2017

Pronk Pops Show 907, June 8, 2017

Pronk Pops Show 906, June 7, 2017

Pronk Pops Show 905, June 6, 2017

Pronk Pops Show 904, June 5, 2017

Pronk Pops Show 903, June 1, 2017

Pronk Pops Show 902, May 31, 2017

Pronk Pops Show 901, May 30, 2017

Pronk Pops Show 900, May 25, 2017

Pronk Pops Show 899, May 24, 2017

Pronk Pops Show 898, May 23, 2017

Pronk Pops Show 897, May 22, 2017

Pronk Pops Show 896, May 18, 2017

Pronk Pops Show 895, May 17, 2017

Pronk Pops Show 894, May 16, 2017

Pronk Pops Show 893, May 15, 2017

Pronk Pops Show 892, May 12, 2017

Pronk Pops Show 891, May 11, 2017

Pronk Pops Show 890, May 10, 2017

Pronk Pops Show 889, May 9, 2017

Pronk Pops Show 888, May 8, 2017

Pronk Pops Show 887, May 5, 2017

Pronk Pops Show 886, May 4, 2017

Pronk Pops Show 885, May 3, 2017

Pronk Pops Show 884, May 1, 2017

Image result for branco cartoons on trump tax reformImage result for fairtax

Image result for branco cartoons on trump tax reform

Image result for branco cartoons on trump tax reform

Image result for branco cartoons on trump tax reform

Image result for branco cartoons on trump tax reform

 

Image result for average quarter to quarter real gdp growth

Image result for average quarter to quarter real gdp growth

Image result for annual real gdp growth 1950-2017

Image result for annual real gdp growth 1950-2017 u.S. economy

Image result for annual real gdp growth 1950-2017 u.S. economy

Image result for annual real gdp growth 1950-2017 u.S. economy

Story 1: President Trump’s Tax Speech — Very Light On Specifics — Let Congress Fill in The Details — Formula For Failure — Tax Rate Cuts Are Not Fundamental Tax Reform — A Broad Based Consumption Tax Such as The FairTax or Fair Tax Less Not Even Mentioned — What Good Is Dreaming It If You don’t actually do it! — Videos —

FULL. President Trump speech on tax reform in Springfield, Missouri. August 30, 2017.

Special Report with Bret Baier 8/30/17 – Special Report Fox News August 30, 2017 TRUMP TAX REFORM

Destroy Trump Media – President Trump Pitches Tax Reform Plan – Kellyanne Conway – Hannity

President Trump’s tax plan

Will US Markets Finally Get Tax Reform – 29 Aug 17 | Gazunda

Keiser Report: The bizarre decade (E1117)

Dan Mitchell on GOP Tax Reform Wrangling, Part I

Dan Mitchell on GOP Tax Reform Wrangling, Part II

Dan Mitchell Discussing the Fate of Tax Cuts and Tax Reform

How Trump’s tax plan impacts average Americans

Trump’s Tax Cut Plan Alienates His Base

Cohn Says White House Is Concerned About U.S. Wages

Gary Cohn on the Trump administration taking on tax loopholes

As White House Cracks Show, Are Rex Tillerson and Gary Cohn Headed Out? | Morning Joe | MSNBC

Gary Cohn’s take on tax reform

Limbaugh Airs Montage Of The ‘3 LIES’ Media Said After Trump’s Tax Speech

Trump’s tax cuts will be done before Thanksgiving: Grover Norquist

Donald Trump Is To Give Speech On Tax Reform But He Has No Tax Reform Plan | The 11th Hour | MSNBC

Freedom from the IRS! – FairTax Explained in Detail

Mark Levin: Donald Trump gave a good speech on tax reform (August 30 2017)

Why U.S. Tax Reform Isn’t Likely in 2017

Milton Friedman – Why Tax Reform Is Impossible

Honda – “Impossible Dream” Power of Dreams Advert Full

 

Trump’s Tax Reform Plan Targets Middle-Class Tax Complexity

Policy director at Competitive Enterprise Institute

President Trump visited Missouri to talk about tax reform, stressing simplicity and middle-class tax relief and “plans to bring back Main Street by reducing the crushing tax burden on our companies and on our workers.”

Noting the elimination of “dozens of loopholes,” special interest carve-outs, and the reduction of brackets and rates that Congress achieved three decades ago, Trump said, “the foundation of our job creation agenda is to fundamentally reform our tax code for the first time in more than 30 years. I want to work with Congress, Republicans and Democrats alike, on a plan that is pro-growth, pro-jobs, pro-worker — and pro-American.”

We’re about to re-enter Obamacare repeal-style complexity and venom, but it’s important, I think, for the public to see the tax reform debate as something other than a campaign to benefit business. The U.S. does have comparatively high corporate tax rates. And the Econ 101 lesson on tax incidence shows that consumers pay much of the corporate tax, not the company.

It’s probable some Democrats would like to reform the tax code, especially come 2016, but the zero-tolerance of Trump, such as that seen at the Commonwealth Club when Sen. Diane Feinstein was barely favorable toward him, prevails.

But things can turn on a dime, as the response, likely bipartisan, to Hurricane Harvey may further show. And separately the controversial debt limit needs to be addressed no matter what (hopefully with parallel cuts in regulatory costs), and that debate will influence the trajectory of tax reform.

My broader point here though is is that taxation is just the beginning of the story when it comes to the complexity of regulatory compliance. The economy marinates in compliance burdens to service noble ends, but sometimes serve regulators instead. Trump characterized the Internal Revenue Service’s unfairness to the typical taxpayer like this:

The tax code is now a massive source of complexity and frustration for tens of millions of Americans.

In 1935, the basic 1040 form that most people file had two simple pages of instructions. Today, that basic form has one hundred pages of instructions, and it’s pretty complex stuff. The tax code is so complicated that more than 90 percent of Americans need professional help to do their own taxes.

This enormous complexity is very unfair. It disadvantages ordinary Americans who don’t have an army of accountants while benefiting deep-pocketed special interests. And most importantly, this is wrong.

There’s solid backup for what Trump’s talking about in terms of pubic burdens, even if some are disinclined  to reckon with it, or if their allegiances require professing public disdain for corporations (one of the great democratizing forces in human history, but that’s another story).

The Government Accountability Office (GAO) agrees, I think, that Trump’s example of the IRS is a good one. In the course of a project I have of compiling examples of government proclamationsthat are not laws from Congress, nor even formal regulations from agencies, but instead “memoranda” and “guidance,” the IRS emerged as a leading “offender.”

A September 2016 GAO report called  “Regulatory Guidance Processes: Treasury and OMB Need to Reevaluate Long-standing Exemptions of Tax Regulations and Guidance,” looked at the Internal Revenue Service’s hierarchy of law, regulations, guidance, and explanatory material with respect to communicating interpretation of tax laws to the public.

It’s an eye-opener.

A pyramid diagram presented by GAO was topped by the Internal Revenue Code, as passed by Congress. Beneath that, in widening stages, one finds “Treasury Regulations,” “Internal Revenue Bulletins,” (IRB), “Written Determinations,” and “Other IRS Publications and Information.” The IRS regards the bulletins as generally authoritative, while determinations tend to apply to individual taxpayers.

That’s a lot of public guidance, difficult to absorb.

As the GAO explains:

Treasury and IRS are among the largest generators of federal agency regulations and they issue thousands of other forms of taxpayer guidance. IRS publishes tax regulations and other guidance in the weekly IRB. Each annual volume of the IRB contains about 2,000 pages of regulations and other guidance documents.

From 2013 to 2015, each annual Internal Revenue Bulletin edition contained some 300 guidance documents; back in 2002-2008, about 500.

When one sees such document proliferation from the IRS, an impartial observer might surmise the time for tax reform and simplification has arrived.

Likewise, when regulatory guidance multiplies that applies to various sectors—like finance, Internet, health care—one might similarly conclude the time has come for Congress to enact regulatory liberalization. Trump mentioned cutting the overall federal regulatory burden in the Missouri speech, too.

We knew it all along, but paying taxes also requires paying a lot of attention to regulations. In more ways than one, tax reform and regulatory reform go hand in hand.

https://www.forbes.com/sites/waynecrews/2017/08/30/trumps-tax-reform-plan-targets-middle-class-tax-complexity/#31fda3736ef8

Ann Coulter goes off on Trump over taxes, saying he delivered his ‘worst, most tone-deaf speech’

Conservative author Ann Coulter rebuked President Donald Trump over his speech on Wednesday in which he rolled out the broad outline of his tax reform plan.

In a slew of tweets on Wednesday, the firebrand conservative pundit said the president’s focus on simplifying the tax code and lowering business taxes to 15% was missing an opportunity to prioritize some of his more incendiary, but unique, policy objectives, including building a southern border wall and deporting immigrants living in the US without permission.

This isn’t a “once in a lifetime” shot at tax cuts! EVERY GOP cuts taxes! This is “once in a lifetime” shot to save US: Wall & deportations!

Bush cut taxes! Did it create millions of jobs? Nope. The rich pocketed their tax cut & sent jobs abroad, hired guest workers. F– them.

It’s so obvious Trump’s only getting polite applause for tax cuts. Want to get the crowd hollering, @realDonaldTrump? Talk about THE WALL!

It’s like Night of the Living Dead watching our beloved @realDonaldTrump go to DC & start babbling the same old GOP nonsense on tax cuts.

Tax cuts are a 2d term issue. 1st term: BUILD THE WALL, End DACA, Deport Illegals, No Refugees, No Muslims, Immigrn Moratorium. SAVE USA!

Cutting taxes doesn’t do a damn thing for wages if you allow businesses to keep bringing in cheap foreign labor!

To create jobs for AMERICANS, no more cheap foreign workers, CUT REGULATIONS & cut corporate taxes. (NOT income taxes.)

Coulter particularly singled out the similarities between Trump’s plan and a hypothetical plan that other Republicans like former Florida Gov. Jeb Bush would’ve put forward.

This speech could have been given by Jeb! — except even he wouldn’t have talked about the govt helping yuppie women with child care costs.

Oh stop pretending this is about letting “families” keep more of their money. HALF OF AMERICANS DON’T PAY TAXES! This is for Wall Street.

Indeed, beyond the prominent former Wall Street figures playing key roles in overhauling the tax code, Trump’s administration has absorbed some financial figures from Bush’s policy world.

Notably, Bush’s former senior policy director Justin Muzinich joined the Treasury Department in March to work closely with Treasury Secretary Steve Mnuchin on “major policy initiatives” and on tax reform.

Over the past several months, Coulter has increasingly criticized Trump and mocked him on social media and in interviews, saying that he has not fulfilled his anti-immigration campaign promises.

“The millions of people who haven’t voted for 30 years and came out to vote for Trump, thinking, ‘Finally, here’s somebody who cares about us’ — Nope!” Coulter told The Daily Beast after former chief strategist Steve Bannon left the White House earlier this month. “Republicans, Democrats — doesn’t matter. Jeb exclamation point, Donald Trump, Hillary Clinton — doesn’t matter. Goldman Sachs is running the country.”

http://www.businessinsider.com/ann-coulter-trump-taxes-speech-2017-8

 

Who Pays Income Taxes?

The charts below illustrate the share of taxes paid by income percentiles for Tax Year 2014, the most recent set of data available from the IRS. NTUF has broken down the federal share of income taxes by gross income to show how much each bracket contributes yearly.

For more information:

 

https://e.infogr.am/38b876d9-6c59-4a84-8b02-1ed223f6a454?src=embed

https://www.ntu.org/foundation/page/who-pays-income-taxes

Trump Hits The Road To Promote Tax Cuts (Details To Come)

President Trump participates in a tax overhaul kickoff event at the Loren Cook Company in Springfield, Mo., on Wednesday.

Jim Watson/AFP/Getty Images

Updated at 5:25 p.m. ET

President Trump called for a major rewrite of the U.S. tax code during a visit to Springfield, Mo., on Wednesday afternoon. The speech came a day after Trump’s trip to Harvey-hit Texas and is the first in what is expected to be a series of traveling sales pitches on taxes from the president.

But the White House is not ready to spell out what the rewrite will look like or what kind of price tag it will carry. Trump spoke in broad terms about creating a tax system that favors middle-class Americans and keeps business in the U.S.

“First and foremost our tax system should benefit loyal, hardworking Americans and their families. That is why tax reform must dramatically simplify the tax code, eliminate special-interest loopholes,” he said.

Trump called on Congress to join him and “unite in the name of common sense and the name of common good” to create jobs and improve America’s “competitive advantage.”

“I am fully committed to working with Congress to get this job done, and I don’t want to be disappointed by Congress,” he said.

Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn have been meeting regularly with Republican congressional leaders to discuss tax policy. Thus far, though, they’ve committed only to a vague statement of principles that calls for lower tax rates on both individuals and businesses. Cohn said it will be up to lawmakers to fill in the details.

“We’ve got a great, I would say, skeleton,” Cohn told reporters earlier this month. “We need the Ways and Means Committee to put some muscle and skin on the skeleton and drive tax reform forward. And it’s our objective to do that between now and the end of the year.”

With Republicans in control of the House, Senate and the presidency, supporters have described this as a once-in-a-generation opportunity to overhaul the tax code in accordance with GOP principles. But after Trump’s insistence on swift, ultimately unsuccessful bids to repeal the Affordable Care Act, some observers are skeptical that Trump has the patience or discipline to see a tax overhaul through to completion.

Mnuchin insists tax cuts are now Trump’s No. 1 priority.

“He’s going to go on the road,” Mnuchin said. “The president is 100 percent supportive of us passing legislation this year.”

The White House has been promising such a sales campaign for weeks, only to see much of August consumed with controversy over the president’s Charlottesville, Va., remarks and his intraparty carping with fellow Republicans, including Senate Majority Leader Mitch McConnell, R-Ky.

Mnuchin conceded that rewriting the tax code is a taller order than he initially imagined.

“Earlier in the year I said I thought we’d get it done by August, and I was wrong,” the Treasury secretary said. “I am now going to say that I’m very hopeful, and I think we can get this done by the end of the year, but we will continue to revisit it.”

“The president’s leadership on this is critical,” said a senior White House official who briefed reporters on the Springfield trip. “Everybody involved understands that and believes that. And he is ready to really take this conversation where it belongs and that’s the heartland of America.”

The official spoke on condition of anonymity.

“The president now feels that it’s the right time to begin engaging directly with the American people on tax reform,” he said.

The administration argues the current tax code is too complicated and rates are too high to encourage investment in the U.S.

“We are not competitive with the rest of the world on the business tax and on the personal income tax,” Cohn said.

Neither the White House nor congressional leaders have spelled out how much lower tax rates should go, nor have they specified how the government would make up the lost revenue. They’re counting on faster economic growth to help close the gap. They’ve also promised to eliminate unspecified tax “loopholes,” which Trump called out multiple times in his speech on Wednesday.

Back in April, the White House proposed lowering the corporate tax rate from 35 percent to 15 percent while reducing the top individual tax rate from 39.6 percent to 35 percent. That’s broadly similar to a proposal Trump put forward during the presidential campaign. The nonpartisan Tax Policy Center said at the time 78 percent of the tax savings in Trump’s campaign plan would go to people on the top 20 percent of the income ladder. (Nearly a quarter would go to the top one-tenth of 1 percent.)

The campaign plan was also forecast to reduce government revenue by more than $6 trillion over a decade — a gap that would be difficult to erase through growth and loophole closings.

The White House has said it wants to preserve deductions for charitable contributions, retirement savings and mortgage interest.

One popular tax break that could be on the chopping block is the deduction for state and local taxes. That’s one of the biggest loopholes in the tax code. Eliminating it would boost federal revenues by an estimated $1.3 trillion over a decade. The tax break is particularly popular with residents in the Northeast and West Coast, typically blue states with relatively high tax rates.

House Speaker Paul Ryan, R-Wis., favored a so-called border adjustment tax on imports as another way to raise revenue and offset the cost of income tax cuts. But lawmakers ultimately scrapped that idea after consultation with the administration.

Senate Republicans plan to use a procedural tactic to prevent Democrats from blocking the tax overhaul with a filibuster. Under Senate rules, though, any measure passed with that tactic must not add to the federal deficit for more than 10 years.

This presents a choice for Republicans: Go with a more modest tax cut that can be offset by growth and closing loopholes, or opt for a more ambitious cut but allow it to sunset after a decade.

For all the challenges, GOP lawmakers are under political pressure to pass something they can brand as “tax reform.” Otherwise, they’ll have to face voters in 2018 with little to show for two years of single-party rule.

http://www.npr.org/2017/08/30/547114024/trump-hits-the-road-to-promote-tax-cuts-details-to-come

 

Trump’s Fill-in-the-Blanks Tax Reform Plan

The president is leaving the details to Republicans in Congress. Only they haven’t figured them out yet, either.

Alex Brandon / AP

notable

On Wednesday, President Trump traveled to Missouri to expand on the need for tax reform, to lay the groundwork for a major legislative push in Congress this fall. But more than anything else, what Trump’s speech revealed was that despite months of behind-the-scenes negotiations, Republicans aren’t much closer to enacting the most significant overhaul of the tax code in 30 years than they were back in April.

Trump was pitching a plan that doesn’t exist and demanding votes for a bill that hasn’t been written. If anything, the address the president delivered was even less detailed than the skimpy blueprint the White House issued in the spring. The most specific item Trump mentioned—a 15 percent corporate tax rate, down from the current 35 percent—is something that Republican tax-writers on Capitol Hill believe is impossible to achieve under the parameters with which they must work. He talked in broad terms about simplifying the code so that it’s easier for people to file their taxes, removing unspecified special interest loopholes, and encouraging businesses to bring back profits they’ve parked overseas—all policies that have been central to GOP proposals for years and offer little indication of the particular direction the party plans to go.

This was a bully pulpit speech. Having laid down his principles, Trump is once again leaving the dirty work to Congress, a strategy that even he seemed to acknowledge was as risky as it is politically necessary. “I don’t want to be disappointed by Congress, do you understand me? Do you understand?” he warned at one point, a none-too-subtle reference to his recent hectoring over the GOP’s failure to deliver on health care.

To the delight of Republican leaders, the one lawmaker Trump singled out for pressure was not one of their own; for the first time in weeks, the president picked on a Democrat, Missouri Senator Claire McCaskill, who is up for reelection in a state he won easily in November. If McCaskill doesn’t vote for tax reform—whatever it turns out to be—“you have to vote her out of office,” Trump demanded of the crowd.

Top Republicans were evidently pleased with the speech, or at least with the fact that the president stuck to the message they were told beforehand he would deliver. Within minutes after it ended, statements (undoubtedly prewritten) flowed in with glowing reviews. “President Trump is taking the case for tax reform straight to Main Street,” House Speaker Paul Ryan said. “We are united in our determination to get this done.” Representative Kevin Brady, the chairman of the Ways and Means Committee, said his remarks were “excellent.” Even members of Trump’s Cabinet that have no role in tax reform, like Health and Human Services Secretary Tom Price, or in domestic politics whatsoever, like Secretary of State Rex Tillerson, chimed in with praise.Yet while Trump talked at length about the need for tax reform, he said little about how Republicans would get it done. And that’s because they still don’t know themselves. GOP leaders haven’t made several crucial decisions. Will the legislation be a revenue-neutral tax reform that fully offsets the reduction in rates by eliminating costly—and popular—exemptions and deductions? Or will it be a more straightforward tax cut, that would likely have to expire within a decade to comply with Senate rules? How low will they try to push down the corporate rate? About all they’ve determined is that 15 percent is too low, but will it be closer to 20 percent or 25 percent? And on, and on.
The Ways and Means Committee is currently writing the tax bill, but the only timeline they’ve set is to get it done by the end of 2018. The longer they take to write it, however, the less realistic that deadline becomes. And as I explainedearlier this month, Republicans must first pass a budget before they can even get to tax reform, which, to this point, has been no easy task.These unresolved details have also tripped up Trump’s messaging toward Democrats. Does he want their support, or are Republicans planning to do it alone as they tried to do on health care? In his speech, the president started out by saying he wanted to work with both parties to enact tax reform. Later on, however, he attacked Democrats as “obstructionists” and called out McCaskill. By the end, he was back where he began, saying tax reform was an issue on which lawmakers should put aside partisanship.Democrats say there’s been no outreach from the administration on taxes, and they’ve noted that Republicans are, for now, planning to use the same budget reconciliation process on tax reform that they used in trying to repeal the Affordable Care Act. That would allow them to skirt a Democratic filibuster and pass tax reform with a simple majority of 51 votes in the Senate. Unlike Obamacare repeal, some Democrats have expressed a willingness to work with the administration on taxes, so long as the GOP plan is not skewed to benefit the wealthy. With so few details, they were unimpressed with Trump’s speech in Missouri. “Stepping to the podium to declare that we need tax reform does not signal leadership on this issue; rather, doing so without offering any proposals on how to achieve it is an abdication,” said Representative Steny Hoyer of Maryland, the second-ranking House Democrat. “If the president is serious about tax reform, he should focus on the how, not the why.”Trump is not a detail-oriented president. That much is clear. But while he may be able to stick to broad strokes in rally-the-public speeches and leave the rest to Congress, his party will eventually have to make the tough decisions about who’s going to pay more, who gets to pay less, and by how much. Until that happens, tax reform isn’t going anywhere.

https://www.theatlantic.com/politics/archive/2017/08/trumps-fill-in-the-blanks-tax-reform-plan/538509/

Trump’s populist message on taxes comes with heavy dose of corporate rate cuts

Trump’s speech didn’t mask the fact that lawmakers still face a wide range of knotty questions when they return to Washington next week.

08/30/2017 01:59 PM EDT

Updated 08/30/2017 04:08 PM EDT

Trump maintained that a new tax system was crucial to ushering in a new prosperity in the U.S., in a speech that White House officials acknowledged beforehand would be light on policy details.

“Instead of exporting our jobs, we will export our goods. Our jobs will both stay here in America and come back to America. We’ll have it both ways,” Trump said at a Springfield, Mo., manufacturer, adding that millions of people would move from welfare to work and “will love earning a big fat beautiful paycheck.”

“We believe that ordinary Americans know better than Washington how to spend their own money and we want to help them take home as much of their money as possible and then spend it,” he said. “So they’ll keep their money, they’ll spend their money, they’ll buy our product.”

But Trump’s speech also underscored just how big a challenge he and a Republican Congress will face in pulling off a true overhaul of the tax code. The president only briefly touched on policy details, saying that businesses would “ideally” be taxed at a top rate of 15 percent and that the tax code would contain incentives for child care — a top priority of his daughter, Ivanka Trump.

“I am fully committed to working with Congress to get this job done,” Trump said. “And I don’t want to be disappointed by Congress. Do you understand me?”

Trump’s speech was aimed at showing that Republicans have the message down on tax reform, but lawmakers have yet to confront the monumental task of turning the rhetoric into reality.

Senior White House officials this week repeatedly billed the president’s speech as an address focused on why tax reform needs to happen, not how it will materialize. That’s the sort of big-picture cover on taxes that Trump didn’t offer congressional leaders in their doomed efforts to repeal and replace Obamacare.

But while congressional leaders undoubtedly welcome the president making the broad case for a tax revamp, Trump’s speech doesn’t mask the fact that lawmakers still face a wide range of knotty questions when they return to Washington next week.

Republicans still have to figure out how to pass a budget this fall, a process that will play a big role in deciding how generous a tax plan they can write. They also have to decide whether tax changes should be permanent or temporary, or a mix of the two, and whether their plan should be a net tax cut that would add to the deficit.

And that’s before they will feel the full brunt of a massive lobbying push on what would be the first major tax overhaul in more than 30 years. Already, GOP lawmakers are starting to hear from industries that might be the losers in a tax overhaul, such as big corporations that don’t want a minimum tax on foreign earnings and a retirement sector wary of potential changes to savings plans.

The hurdles won’t be limited to policy, either, after a summer that saw both sides of Pennsylvania Avenue grow increasingly wary of the other as the GOP’s health care efforts imploded. Republicans on Capitol Hill steamed privately in July that Trump’s obsession with White House infighting and the Russia controversy was a major factor in the death of the repeal effort. They’re crossing their fingers that he won’t be so easily distracted on tax reform.

 

Fact-checking President Trump’s speech on his tax plan

 August 31 at 3:00 AM
The Fact Checker’s round-up of five fishy claims made by President Trump in his speech on Aug. 30. (Meg Kelly/The Washington Post)

President Trump on Wednesday delivered an address on his “principles” for a tax plan in Springfield, Mo., though he provided few details. He also shifted from extolling how well the economy is doing to language that suggested the United States was suffering terribly. As usual, some of the president’s  facts and figures were a bit fishy, so here’s a roundup of 10 of his claims.

“In the last 10 years, our economy has grown at only around 2 percent a year.”

This is misleading. By going back 10 years, Trump includes the worst recession since the Great Depression, which brings down the 10-year average. This chart shows that that quarterly average since the recession was well above 2 percent, even hitting 5 percent in the third quarter of 2014. The GDP growth rate for the United States averaged 3.22 percent from 1947 to 2017.


Source: Bureau of Economic Analysis via Federal Reserve Bank of St. Louis

“We just announced that we hit 3 percent in GDP. Just came out. And on a yearly basis, as you know, the last administration, during an eight-year period, never hit 3 percent.

Trump plays some sleight-of-hand with the numbers. He first cites an annualized quarterly figure — 3 percent GDP growth in the second quarter of 2017 — and then compares it to what appears to be calendar-year figures for former president Barack Obama.

As the chart above shows, the economy grew better than 3 percent in eight quarters during Obama’s presidency, most recently in the third quarter of 2016. (Technically, this is known as “annualized quarterly change” or SAAR — seasonally adjusted at annual rate.) Trump gets his terminology wrong, using the phrase “yearly basis,” which could mean from the third quarter of 2015 to the the third quarter of 2016, in which case Obama easily exceeded 3 percent numerous times. On an annual basis, Obama’s best year was 2015, when annual growth was 2.6 percent.

“If we achieve sustained 3 percent growth, that means 12 million new jobs and $10 trillion of new economic activity over the next decade. That’s some numbers.”

With this statement, Trump downgrades promises he made during the 2016 campaign — he said he would achieve 4 percent GDP growth and 25 million jobs over 10 years.

“In 1935, the basic 1040 form that most people file had two simple pages of instruction. Today, that basic form has 100 pages of instructions, and it’s pretty complex stuff.”

Trump is correct that in 1935, the basic 1040 individual income tax form had two pages of instructions, but this claim needs historical context.

There are many reasons the instructions were so simple back then — including that just about 4 percent of the population paid the federal individual income tax. In 1935, the individual income tax largely was a tax on the wealthy. In fact, the top rate in 1935 was 63 percent — and President Franklin D. Roosevelt raised it to 75 percent later that year.

This changed with World War II. “Driven by staggering revenue needs, lawmakers in both parties agreed to raise taxes on everyone: rich, poor, and — especially — the middle class,” wrote Joseph Thorndike, director of the Tax History Project.

“The tax code is so complicated that more than 90 percent of Americans need professional help to do their own taxes.”

This is misleading. The 90 percent figure he is referring to includes people using tax software, such as Turbo Tax, which helps people file their taxes on their own. According to the National Taxpayer Advocate’s 2016 report, 54 percent of individual taxpayers pay preparers and about 40 percent of individual taxpayers use software that costs about $50 or more.

Yet later during the speech, he made it sound as if the “professional help” is only referring to hired accountants: “That is why tax reform must dramatically simplify the tax code … and allow the vast majority of our citizens to file their taxes on a single, simple page without having to hire an accountant.”

“Our last major tax rewrite was 31 years ago. It eliminated dozens of loopholes and special interest tax breaks, reduced the number of tax brackets from 15 to two, and lowered tax rates for both individuals and businesses. At the time it was really something special … In 1986, Ronald Reagan led the world by cutting our corporate tax rate to 34 percent. That was below the average rate for developed countries at the time. Everybody thought that was a monumental thing that happened. But then, under this pro-America system, our economy boomed. It just went beautifully right through the roof. The middle class thrived, and median family income increased.”

Trump heaped praise on Reagan’s Tax Reform Act of 1986, which simplified tax brackets and eliminated tax shelters; it also lowered the top individual tax rate to 28 percent but raised the capital gains rate to the same level, giving them parity. But this is a rather strange flip-flop because Trump always has been a fierce critic of the bill, blaming it repeatedly for the savings and loan crisis, a decline in real estate investing and the 1990-1991 recession.

“This tax act was just an absolute catastrophe for the country, for the real estate industry, and I really hope that something can be done,” Trump told Congress in 1991. In a television interview with Joan Rivers, he said: “What caused the savings and loan crisis was the 1986 tax law change. It was a disaster. It took all of the incentives away from investors.”

Trump also frequently attacked one of the Democratic sponsors of the bill, Sen. Bill Bradley (D-N.J.), such as in a Wall Street Journal commentary in 1999. “Mr. Bradley’s last big idea to be enacted into legislation was also one of the worst ideas in recent history,” Trump wrote, saying Bradley was responsible for the elimination of a tax shelter for real estate investments. (He said the good parts of the bill could be attributed to Reagan.)

“We lost the jobs. We lost the taxes. They closed the buildings. They closed the plants and factories. We got nothing but unemployment. We got nothing.”

As Trump frequently notes, the unemployment rate in July was 4.3 percent — the lowest level in 16 years. So this overwrought language seems misplaced.

“We have gone from a tax rate that is lower than our economic competitors, to one that is more than 60 percent higher. … In other words, foreign companies have more than a 60 percent tax advantage over American companies.”

The United States certainly has one of the highest statutory corporate tax rates in the world, currently pegged as high as 39.1 percent when including state taxes. (The federal rate is 35 percent.) Trump says it is 60 percent higher than “our economic competitors,” comparing 39.1 percent to the average rate for the other members of the Organization for Economic Co-operation and Development, which is 25.5 percent when not weighted for GDP. (It is 29.6 percent when weighted for GDP.)

But the official rate does not necessarily tell the whole story. What also matters is the actual tax a company pays, after deductions and tax benefits. That is known as the effective tax rate, which can be calculated differently depending on the survey. According to the Congressional Research Service, the effective rate for the United States is 27.1 percent, compared to an effective GDP-weighted average of 27.7 percent for the OECD. “Although the U.S. statutory tax rate is higher, the average effective rate is about the same, and the marginal rate on new investment is only slightly higher,” the CRS says.

The Congressional Budget Office, when it examined the issue, said the U.S. effective tax rate was 18.6 percent, which it said was among the highest of the biggest economic powers, the Group of 20.

Trump, naturally, used the numbers that suggest the difference is really huge.

“Today, we are still taxing our businesses at 35 percent, and it’s way more than that. And think of it, in some cases, way above 40 percent when you include state and local taxes in various states. The United States is now behind France, behind Germany, behind Canada, Ireland, Japan, Mexico, South Korea and many other nations.”

As we noted, the statutory federal corporate tax rate in the United States is 35 percent, making the United States the highest among G-20 countries, including the countries Trump listed. But the effective corporate tax rate in the United States in 2012 was 18.6 percent, making it the fourth highest among G-20 countries, behind Argentina, Japan and Britain, according to the CBO.

“Because of our high tax rate and horrible, outdated, bureaucratic rules, large companies that do business overseas will often park their profits offshore to avoid paying a high United States tax if the money is brought back home. So they leave the money over there. The amount of money we’re talking about is anywhere from $3 trillion to $5 trillion.”

There are no official, current numbers on the profits held overseas by U.S. companies, just estimates. The White House would not respond to a query on where Trump is getting these numbers, but his high-end figure appears to be an exaggeration. The Internal Revenue Service in 2012 said the figure was $2.3 trillion, and the Joint Committee on Taxation estimated that it had risen to $2.6 trillion in 2015. There are other estimates as well, but none top $2.8 trillion, according to PolitiFact.

https://www.washingtonpost.com/news/fact-checker/wp/2017/08/31/fact-checking-president-trumps-speech-on-his-tax-plan/?utm_term=.8ea0dc0c4d24

973 oil crisis

From Wikipedia, the free encyclopedia

The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. The embargo was targeted at nations perceived as supporting Israel during the Yom Kippur War.[1] The initial nations targeted were CanadaJapan, the Netherlands, the United Kingdom and the United States with the embargo also later extended to PortugalRhodesia and South Africa. By the end of the embargo in March 1974,[2] the price of oil had risen from US$3 per barrel to nearly $12 globally; US prices were significantly higher. The embargo caused an oil crisis, or “shock”, with many short- and long-term effects on global politics and the global economy.[3] It was later called the “first oil shock”, followed by the 1979 oil crisis, termed the “second oil shock.”

Summary

The embargo was a response to American involvement in the 1973 Yom Kippur War. Six days after Egypt and Syria launched a surprise military campaign against Israel, the US supplied Israel with arms. In response to this, the Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced an oil embargo against CanadaJapan, the Netherlands, the United Kingdom and the United States.[4]

The crisis had a major impact on international relations and created a rift within NATO. Some European nations and Japan sought to disassociate themselves from United States foreign policy in the Middle East to avoid being targeted by the boycott. Arab oil producers linked any future policy changes to peace between the belligerents. To address this, the Nixon Administration began multilateral negotiations with the combatants. They arranged for Israel to pull back from the Sinai Peninsula and the Golan Heights. By January 18, 1974, US Secretary of State Henry Kissinger had negotiated an Israeli troop withdrawal from parts of the Sinai Peninsula. The promise of a negotiated settlement between Israel and Syria was enough to convince Arab oil producers to lift the embargo in March 1974.[2]

Graph of oil prices from 1861–2015, showing a sharp increase in 1973 and again during the 1979 energy crisis. The orange line is adjusted for inflation.

Independently, OAPEC members agreed to use their leverage over the world price-setting mechanism for oil to stabilize their incomes by raising world oil prices after the recent failure of negotiations with Western oil companies.

The embargo occurred at a time of rising petroleum consumption by industrialized countries and coincided with a sharp increase in oil imports by the world’s largest oil consumer, the United States. In the aftermath, targeted countries initiated a wide variety of policies to contain their future dependency.

The 1973 “oil price shock”, with the accompanying 1973–74 stock market crash, was regarded as the first discrete event since the Great Depression to have a persistent effect on the US economy.[5]

The embargo’s success demonstrated Saudi Arabia‘s diplomatic and economic power. It was the largest oil exporter and a politically and religiously conservative kingdom.

Background

US oil production decline

In 1970, US oil production started to decline, exacerbating the embargo’s impact.[6] Following this, Nixon named James E. Akins as US Ambassador to Saudi Arabia to audit US production capacity. The confidential results were alarming—no spare capacity was available and production could only decrease.

USA oil production and imports. As shown, the import spike starts from the US production peak, and the embargo has little effect.

The oil embargo had little effect on overall supply, according to Akins.[7]

OPEC

The Organization of the Petroleum Exporting Countries (OPEC), which then comprised 12 countries, including Iran, seven Arab countries (IraqKuwaitLibyaQatarSaudi Arabia and the United Arab Emirates), plus VenezuelaIndonesiaNigeria and Ecuador, was formed at a Baghdad conference on September 14, 1960. OPEC was organized to resist pressure by the “Seven Sisters” (seven large, Western oil companies) to reduce oil prices.

At first, OPEC operated as an informal bargaining unit for resource-rich third-world countries. OPEC confined its activities to gaining a larger share of the profits generated by oil companies and greater control over member production levels. In the early 1970s it began to exert economic and political strength; the oil companies and importing nations suddenly faced a unified exporter bloc.

End of the Bretton Woods currency accord

On August 15, 1971, the United States unilaterally pulled out of the Bretton Woods Accord. The US abandoned the Gold Exchange Standard whereby the value of the dollar had been pegged to the price of gold and all other currencies were pegged to the dollar, whose value was left to “float” (rise and fall according to market demand).[8] Shortly thereafter, Britain followed, floating the pound sterling. The other industrialized nations followed suit with their respective currencies. Anticipating that currency values would fluctuate unpredictably for a time, the industrialized nations increased their reserves (by expanding their money supplies) in amounts far greater than before. The result was a depreciation of the dollar and other industrialized nations’ currencies. Because oil was priced in dollars, oil producers’ real income decreased. In September 1971, OPEC issued a joint communiqué stating that, from then on, they would price oil in terms of a fixed amount of gold.[9]

This contributed to the “Oil Shock”. After 1971, OPEC was slow to readjust prices to reflect this depreciation. From 1947 to 1967, the dollar price of oil had risen by less than two percent per year. Until the oil shock, the price had also remained fairly stable versus other currencies and commodities. OPEC ministers had not developed institutional mechanisms to update prices in sync with changing market conditions, so their real incomes lagged. The substantial price increases of 1973–1974 largely returned their prices and corresponding incomes to Bretton Woods levels in terms of commodities such as gold.[10]

Yom Kippur War

On October 6, 1973, Syria and Egypt, with support from other Arab nations, launched a surprise attack on Israel, on Yom Kippur.[11] This renewal of hostilities in the Arab–Israeli conflict released the underlying economic pressure on oil prices. At the time, Iran was the world’s second-largest oil exporter and a close US ally. Weeks later, the Shah of Iran said in an interview: “Of course [the price of oil] is going to rise… Certainly! And how!… You’ve [Western nations] increased the price of the wheat you sell us by 300 percent, and the same for sugar and cement… You buy our crude oil and sell it back to us, refined as petrochemicals, at a hundred times the price you’ve paid us… It’s only fair that, from now on, you should pay more for oil. Let’s say ten times more.”[12]

On October 12, 1973, US president Richard Nixon authorized Operation Nickel Grass, a strategic airlift to deliver weapons and supplies to Israel, after the Soviet Union began sending arms to Syria and Egypt.

Embargo

In response to American aid to Israel, on October 16, 1973, OPEC raised the posted price of oil by 70%, to $5.11 a barrel.[13] The following day, oil ministers agreed to the embargo, a cut in production by five percent from September’s output and to continue to cut production in five percent monthly increments until their economic and political objectives were met.[14] On October 19, Nixon requested Congress to appropriate $2.2 billion in emergency aid to Israel, including $1.5 billion in outright grants. George Lenczowski notes, “Military supplies did not exhaust Nixon’s eagerness to prevent Israel’s collapse…This [$2.2 billion] decision triggered a collective OPEC response.”[15] Libya immediately announced it would embargo oil shipments to the United States.[16] Saudi Arabia and the other Arab oil-producing states joined the embargo on October 20, 1973.[17] At their Kuwait meeting, OAPEC proclaimed the embargo that curbed exports to various countries and blocked all oil deliveries to the US as a “principal hostile country”.[15]

Price increases were also imposed greatly. Since short-term oil demand is inelastic, immediate demand falls little when the price rises. Thus, market prices rose from $3 per barrel to $12 per barrel to reduce demand to the new, lower level of supply.[18] The world financial system, which was already under pressure from the Bretton Woods breakdown, was set on a path of recessions and inflation that persisted until the early 1980s, with oil prices remaining elevated until 1986.

The price of oil during the embargo. The graph is based on the nominal, not real, price of oil, and so overstates prices at the end. However, the effects of the Arab Oil Embargo are clear—it effectively doubled the real price of crude oil at the refinery level, and caused massive shortages in the U.S.

Over the long term, the oil embargo changed the nature of policy in the West towards increased exploration, alternative energy research, energy conservation and more restrictive monetary policy to better fight inflation.[19]

Chronology

  • January 1973—The 1973–74 stock market crash commences as a result of inflation pressure and the collapsing monetary system.
  • August 23, 1973—In preparation for the Yom Kippur War, Saudi king Faisal and Egyptian president Anwar Sadat meet in Riyadh and secretly negotiate an accord whereby the Arabs will use the “oil weapon” as part of the military conflict.[20]
  • October 6—Egypt and Syria attack Israeli-occupied lands in the Sinai Peninsula and Golan Heights on Yom Kippur, starting the 1973 Arab–Israeli War.
  • Night of October 8—Israel goes on full nuclear alert. Kissinger is notified on the morning of October 9. United States begins to resupply Israel.
  • October 8–10—OPEC negotiations with major oil companies to revise the 1971 Tehran price agreement fail.
  • October 12—The United States initiates Operation Nickel Grass, a strategic airlift to provide replacement weapons and supplies to Israel. This followed similar Soviet moves to supply the Arab side.
  • October 16—Saudi Arabia, Iran, IraqAbu DhabiKuwait and Qatar raise posted prices by 17% to $3.65 per barrel and announce production cuts.[21]
  • October 17—OAPEC oil ministers agree to use oil to influence the West’s support of Israel. They recommended an embargo against non-complying states and mandated export cuts.
  • October 19—Nixon requests Congress to appropriate $2.2 billion in emergency aid to Israel, which triggers a collective Arab response.[15] Libya immediately proclaims an embargo on oil exports to the US.[16] Saudi Arabia and other Arab oil-producing states follow the next day.[16]
  • October 26—The Yom Kippur War ends.
  • November 5—Arab producers announce a 25% output cut. A further 5% cut is threatened.
  • November 23—The Arab embargo is extended to PortugalRhodesia and South Africa.
  • November 27—Nixon signs the Emergency Petroleum Allocation Act authorizing price, production, allocation and marketing controls.
  • December 9—Arab oil ministers agree to another five percent production cut for non-friendly countries in January 1974.
  • December 25—Arab oil ministers cancel the January output cut. Saudi oil minister Ahmed Zaki Yamani promises a ten percent OPEC production rise.
  • January 7–9, 1974—OPEC decides to freeze prices until April 1.
  • January 18—Israel signs a withdrawal agreement to pull back to the east side of the Suez Canal.
  • February 11—Kissinger unveils the Project Independence plan for US energy independence.
  • February 12–14—Progress in Arab-Israeli disengagement triggers discussion of oil strategy among the heads of state of Algeria, Egypt, Syria and Saudi Arabia.
  • March 5—Israel withdraws the last of its troops from the west side of the Suez Canal.
  • March 17—Arab oil ministers, with the exception of Libya, announce the end of the US embargo.
  • May 31—Diplomacy by Kissinger produces a disengagement agreement on the Syrian front.
  • December 1974—The 1973–74 stock market crash ends.

Effects

Immediate economic effects

A man at a service station reads about the gasoline rationing system in an afternoon newspaper; a sign in the background states that no gasoline is available. 1974

The effects of the embargo were immediate. OPEC forced oil companies to increase payments drastically. The price of oil quadrupled by 1974 to nearly US$12 per barrel (75 US$/m3).[3]

This price increase had a dramatic effect on oil exporting nations, for the countries of the Middle East who had long been dominated by the industrial powers seen to have taken control of a vital commodity. The oil-exporting nations began to accumulate vast wealth.

Some of the income was dispensed in the form of aid to other underdeveloped nations whose economies had been caught between higher oil prices and lower prices for their own export commodities, amid shrinking Western demand. Much went for arms purchases that exacerbated political tensions, particularly in the Middle East. Saudi Arabia spent over 100 billion dollars in the ensuing decades for helping spread its fundamentalist interpretation of Islam, known as Wahhabism, throughout the world, via religious charities such al-Haramain Foundation, which often also distributed funds to violent Sunni extremist groups such as Al-Qaeda and the Taliban.[22]

Control of oil became known as the “oil weapon.” It came in the form of an embargo and production cutbacks from the Arab states. The weapon was aimed at the United States, Great Britain, Canada, Japan and the Netherlands. These target governments perceived that the intent was to push them towards a more pro-Arab position.[23] Production was eventually cut by 25%.[24] However, the affected countries did not undertake dramatic policy changes.[25]

In the United States, scholars argue that there already existed a negotiated settlement based on equality between both parties prior to 1973. The possibility that the Middle East could become another superpower confrontation with the USSR was of more concern to the US than oil. Further, interest groups and government agencies more worried about energy were no match for Kissinger’s dominance.[26] In the US production, distribution and price disruptions “have been held responsible for recessions, periods of excessive inflation, reduced productivity, and lower economic growth.”[27]

The embargo had a negative influence on the US economy by causing immediate demands to address the threats to U.S. energy security.[28] On an international level, the price increases changed competitive positions in many industries, such as automobiles. Macroeconomic problems consisted of both inflationary and deflationary impacts.[29] The embargo left oil companies searching for new ways to increase oil supplies, even in rugged terrain such as the Arctic. Finding oil and developing new fields usually required five to ten years before significant production.[30]

Gas stealers beware, 1974

OPEC-member states raised the prospect of nationalization of oil company holdings. Most notably, Saudi Arabia nationalized Aramco in 1980 under the leadership of Saudi oil minister Ahmed Zaki Yamani. As other OPEC nations followed suit, the cartel’s income soared. Saudi Arabia undertook a series of ambitious five-year development plans. The biggest began in 1980, funded at $250 billion. Other cartel members also undertook major economic development programs.

US retail price gas prices rose from a national average of 38.5 cents in May 1973 to 55.1 cents in June 1974. State governments requested citizens not to put up Christmas lightsOregon banned Christmas and commercial lighting altogether.[18] Politicians called for a national gas rationing program.[31] Nixon requested gasoline stations to voluntarily not sell gasoline on Saturday nights or Sundays; 90% of owners complied, which produced long queues.[18]

The embargo was not uniform across Europe. Of the nine members of the European Economic Community (EEC), the Netherlands faced a complete embargo, the UK and France received almost uninterrupted supplies (having refused to allow America to use their airfields and embargoed arms and supplies to both the Arabs and the Israelis), while the other six faced partial cutbacks. The UK had traditionally been an ally of Israel, and Harold Wilson‘s government supported the Israelis during the Six-Day War. His successor, Ted Heath, reversed this policy in 1970, calling for Israel to withdraw to its pre-1967 borders.

The EEC was unable to achieve a common policy during the first month of the War. It issued a statement on November 6, after the embargo and price rises had begun. It was widely viewed as pro-Arab supporting the Franco-British line on the war. OPEC duly lifted its embargo from all EEC members. The price rises had a much greater impact in Europe than the embargo.

Despite being relatively unaffected by the embargo, the UK nonetheless faced an oil crisis of its own—a series of strikes by coal miners and railroad workers over the winter of 1973–74 became a major factor in the change of government.[32] Heath asked the British to heat only one room in their houses over the winter.[33] The UK, Germany, Italy, Switzerland and Norway banned flying, driving and boating on Sundays. Sweden rationed gasoline and heating oil. The Netherlands imposed prison sentences for those who used more than their ration of electricity.[18]

A few months later, the crisis eased. The embargo was lifted in March 1974 after negotiations at the Washington Oil Summit, but the effects lingered throughout the 1970s. The dollar price of energy increased again the following year, amid the weakening competitive position of the dollar in world markets.

Price controls and rationing

United States

Price controls exacerbated the crisis in the US. The system limited the price of “old oil” (that which had already been discovered) while allowing newly discovered oil to be sold at a higher price to encourage investment. Predictably, old oil was withdrawn from the market, creating greater scarcity. The rule also discouraged development of alternative energies.[31] The rule had been intended to promote oil exploration.[34] Scarcity was addressed by rationing (as in many countries). Motorists faced long lines at gas stations beginning in summer 1972 and increasing by summer 1973.[31]

In 1973, Nixon named William E. Simon as the first Administrator of the Federal Energy Office, a short-term organization created to coordinate the response to the embargo.[35] Simon allocated states the same amount of domestic oil for 1974 that each had consumed in 1972, which worked for states whose populations were not increasing.[36] In other states, lines at gasoline stations were common. The American Automobile Association reported that in the last week of February 1974, 20% of American gasoline stations had no fuel.[36]

Oregon gasoline dealers displayed signs explaining the flag policy in the winter of 1973–74

Odd–even rationing allowed vehicles with license plates having an odd number as the last digit (or a vanity license plate) to buy gas only on odd-numbered days of the month, while others could buy only on even-numbered days.[37]

In some states, a three-color flag system was used to denote gasoline availability at service stations—green for unrationed availability, yellow for restricted/rationed sales and red for out of stock.[38]

Gasoline ration stamps printed by the Bureau of Engraving and Printing in 1974, but not used.

Rationing led to violent incidents, when truck drivers chose to strike for two days in December 1973 over the limited supplies Simon had allocated for their industry. In Pennsylvania and Ohio, non-striking truckers were shot at by striking truckers, and in Arkansas, trucks of non-strikers were attacked with bombs.[36]

America had controlled the price of natural gas since the 1950s. With the inflation of the 1970s, the price was too low to encourage the search for new reserves.[39] America’s natural gas reserves dwindled from 237 trillion in 1974 to 203 trillion[clarification needed] in 1978. The price controls were not changed despite president Gerald Ford‘s repeated requests to Congress.[39]

Conservation and reduction in demand

United States

To help reduce consumption, in 1974 a national maximum speed limit of 55 mph (about 88 km/h) was imposed through the Emergency Highway Energy Conservation Act. Development of the Strategic Petroleum Reserve began in 1975, and in 1977 the cabinet-level Department of Energy was created, followed by the National Energy Act of 1978.[citation needed] On November 28, 1995, Bill Clinton signed the National Highway Designation Act, ending the federal 55 mph (89 km/h) speed limit, allowing states to restore their prior maximum speed limit.

Year-round daylight saving time was implemented from January 6, 1974, to February 23, 1975. The move spawned significant criticism because it forced many children to travel to school before sunrise. The prior rules were restored in 1976.[citation needed]

Gas stations abandoned during the crisis were sometimes used for other purposes. This station at Potlatch, Washington, was turned into a revivalhall.

The crisis prompted a call to conserve energy, most notably a campaign by the Advertising Council using the tagline “Don’t Be Fuelish”.[40] Many newspapers carried advertisements featuring cut-outs that could be attached to light switches, reading “Last Out, Lights Out: Don’t Be Fuelish.”[citation needed]

By 1980, domestic luxury cars with a 130-inch (3.3 m) wheelbase and gross weights averaging 4,500 pounds (2,041 kg) were no longer made. The automakers had begun phasing out the traditional front engine/rear wheel drivelayout in compact cars in favor of lighter front engine/front wheel drive designs. A higher percentage of cars offered more efficient 4-cylinder engines. Domestic auto makers also began offering more fuel efficient diesel powered passenger cars as well.

Though not regulated by the new legislation, auto racing groups voluntarily began conserving. In 1974, the 24 Hours of Daytona was cancelled and NASCAR reduced all race distances by 10%; the 12 Hours of Sebring race was cancelled.[citation needed]

In 1976, Congress created the Weatherization Assistance Program to help low-income homeowners and renters reduce their demand for heating and cooling through better insulation.[citation needed]

Alternative energy sources

A woman uses wood in a fireplacefor heat. A newspaper headline before her tells of the community’s lack of heating oil.

The energy crisis led to greater interest in renewable energynuclear power and domestic fossil fuels.[41] According to Peter Grossman, American energy policies since the crisis have been dominated by crisis-mentality thinking, promoting expensive quick fixes and single-shot solutions that ignore market and technology realities. He wrote that instead of providing stable rules that support basic research while leaving plenty of scope for entrepreneurshipand innovation, congresses and presidents have repeatedly backed policies which promise solutions that are politically expedient, but whose prospects are doubtful.[42]

The Brazilian government implemented its “Proálcool” (pro-alcohol) project in 1975 that mixed ethanol with gasoline for automotive fuel.[43]

Israel was one of the few countries unaffected by the embargo, since it could extract sufficient oil from the Sinai. But to supplement Israel‘s over-taxed power grid, Harry Zvi Tabor, the father of Israel’s solar industry, developed the prototype for a solar water heater now used in over 90% of Israeli homes.[44]

Macroeconomy

The crisis was a major factor in shifting Japan’s economy away from oil-intensive industries. Investment shifted to industries such as electronics. Japanese auto makers also benefited from the crisis. Increased fuel costs allowed their small, fuel-efficient models to gain market share from the “gas-guzzling” American competition. This triggered a drop in American auto sales that lasted into the 1980s.

Western central banks decided to sharply cut interest rates to encourage growth, deciding that inflation was a secondary concern. Although this was the orthodox macroeconomic prescription at the time, the resulting stagflationsurprised economists and central bankers. The policy is now considered by some to have deepened and lengthened the adverse effects of the embargo. Recent research claims that in the period after 1985 the economy became more resilient to energy price increases.[45]

The price shock created large current account deficits in oil-importing economies. A petrodollar recycling mechanism was created, through which OPEC surplus funds were channeled through the capital markets to the West to finance the current account deficits. The functioning of this mechanism required the relaxation of capital controls in oil-importing economies. It marked the beginning of an exponential growth of Western capital markets.[46]

Many in the public remain suspicious of oil companies, believing they profiteered, or even colluded with OPEC.[citation needed] In 1974, seven of the fifteen top Fortune 500 companies were oil companies, falling to four in 2014.[47]

International relations

United States

America’s Cold War policies suffered a major blow from the embargo. They had focused on China and the Soviet Union, but the latent challenge to US hegemony coming from the third world became evident.

In 2004, declassified documents revealed that the U.S. was so distraught by the rise in oil prices and being challenged by under-developed countries that they briefly considered military action to forcibly seize Middle Eastern oilfields in late 1973. Although no explicit plan was mentioned, a conversation between U.S. Secretary of Defense James Schlesinger and British Ambassador to the United States Lord Cromer revealed Schlesinger had told him that “it was no longer obvious to him that the U.S. could not use force.” British Prime Minister Edward Heath was so worried by this prospect that he ordered a British intelligence estimate of U.S. intentions, which concluded America “might consider it could not tolerate a situation in which the U.S. and its allies were at the mercy of a small group of unreasonable countries,” and that they would prefer a rapid operation to seize oilfields in Saudi Arabia and Kuwait, and possibly Abu Dhabi in military action was decided upon. Although the Soviet response to such an act would likely not involve force, intelligence warned “the American occupation would need to last 10 years as the West developed alternative energy sources, and would result in the ‘total alienation’ of the Arabs and much of the rest of the Third World.”[48]

NATO

Western Europe began switching from pro-Israel to more pro-Arab policies.[49][50][51] This change strained the Western alliance. The US, which imported only 12% of its oil from the Middle East (compared with 80% for the Europeans and over 90% for Japan), remained staunchly committed to Israel. The percentage of U.S. oil which comes from the nations bordering the Persian Gulf remained steady over the decades, with a figure of a little more than 10% in 2008.[52]

With the embargo in place, many developed countries altered their policies regarding the Arab-Israeli conflict. These included the UK, which refused to allow the United States to use British bases and Cyprus to airlift resupplies to Israel along with the rest of the members of the European Community.[53]

Canada shifted towards a more pro-Arab position after displeasure was expressed towards Canada’s mostly neutral position. “On the other hand, after the embargo the Canadian government moved quickly indeed toward the Arab position, despite its low dependence on Middle Eastern oil”.[54]

Japan

Although lacking historical connections to the Middle East, Japan was the country most dependent on Arab oil. 71% of its imported oil came from the Middle East in 1970. On November 7, 1973, the Saudi and Kuwaiti governments declared Japan a “nonfriendly” country to encourage it to change its noninvolvement policy. It received a 5% production cut in December, causing a panic. On November 22, Japan issued a statement “asserting that Israel should withdraw from all of the 1967 territories, advocating Palestinian self-determination, and threatening to reconsider its policy toward Israel if Israel refused to accept these preconditions”.[54] By December 25, Japan was considered an Arab-friendly state.

Nonaligned nations

The oil embargo was announced roughly one month after a right-wing military coup in Chile led by General Augusto Pinochet toppled socialist president Salvador Allende on September 11, 1973. The response of the Nixon administration was to propose doubling arms sales. As a consequence, an opposing Latin American bloc was organized and financed in part by Venezuelan oil revenues, which quadrupled between 1970 and 1975.

A year after the start of the embargo, the UN’s nonaligned bloc passed a resolution demanding the creation of a “New International Economic Order” under which nations within the global South would receive a greater share of benefits derived from the exploitation of southern resources and greater control over their self-development.[55]

Arab states

Prior to the embargo, the geo-political competition between the Soviet Union and the United States, in combination with low oil prices that hindered the necessity and feasibility of alternative energy sources, presented the Arab States with financial security, moderate economic growth, and disproportionate international bargaining power.[56]

The oil shock disrupted the status quo relationships between Arab countries and the US and USSR. At the time, Egypt, Syria and Iraq were allied with the USSR, while Saudi Arabia, Turkey and Iran (plus Israel) aligned with the US. Vacillations in alignment often resulted in greater support from the respective superpowers.

When Anwar Sadat became president of Egypt in 1970, he dismissed Soviet specialists in Egypt and reoriented towards the US. Concerns over economic domination from increased Soviet oil production turned into fears of military aggression after the 1979 Soviet invasion of Afghanistan, turning the Persian Gulf states towards the US for security guarantees against Soviet military action.

The USSR’s invasion of Afghanistan was only one sign of insecurity in the region, also marked by increased American weapons sales, technology, and outright military presence. Saudi Arabia and Iran became increasingly dependent on American security assurances to manage both external and internal threats, including increased military competition between them over increased oil revenues. Both states were competing for preeminence in the Persian Gulf and using increased revenues to fund expanded militaries. By 1979, Saudi arms purchases from the US exceeded five times Israel’s.[57]

In the wake of the 1979 Iranian Revolution the Saudis were forced to deal with the prospect of internal destabilization via the radicalism of Islamism, a reality which would quickly be revealed in the Grand Mosque seizure in Mecca by Wahhabi extremists during November 1979, and a Shiite Muslim revolt in the oil rich Al-Hasa region of Saudi Arabia in December of the same year, which was known as the 1979 Qatif Uprising.[58] Saudi Arabia is a near absolute monarchy, an Arabic speaking country, and has a Sunni Muslim majority, while Persian speaking Iran since 1979 is an Islamist theocracy with a Shiite Muslim majority, which explains the current hostility between Saudi Arabia and Iran.[59]

In November 2010, Wikileaks leaked confidential diplomatic cables pertaining to the United States and its allies which revealed that the late Saudi King Abdullah urged the United States to attack Iran in order to destroy its potential nuclear weapons program, describing Iran as “a snake whose head should be cut off without any procrastination”.[60]

Automobile industry

The oil crisis sent a signal to the auto industry globally, which changed many aspects of production and usage for decades to come.

Western Europe

After World War II, most West European countries taxed motor fuel to limit imports, and as a result most cars made in Europe were smaller and more economical than their American counterparts. By the late 1960s increasing incomes supported rising car sizes.

The oil crisis pushed West European car buyers away from larger, less economical cars.[61] The most notable result of this transition was the rise in popularity of compact hatchbacks. The only notable small hatchbacks built in Western Europe before the oil crisis were the Peugeot 104Renault 5 and Fiat 127. By the end of the decade, the market had expanded with the introduction of the Ford FiestaOpel Kadett (sold as the Vauxhall Astra in Great Britain), Chrysler Sunbeam and Citroën Visa.

Buyers looking for larger cars were increasingly drawn to medium-sized hatchbacks. Virtually unknown in Europe in 1973, by the end of the decade they were gradually replacing saloons as the mainstay of this sector. Between 1973 and 1980, medium-sized hatchbacks were launched across Europe: the Chrysler/Simca HorizonFiat Ritmo (Strada in the UK), Ford Escort MK3Renault 14Volvo 340 / 360Opel Kadett, and Volkswagen Golf.

These cars were considerably more economical than the traditional saloons they were replacing, and attracted buyers who traditionally bought larger vehicles. Some 15 years after the oil crisis, hatchbacks dominated most European small and medium car markets, and had gained a substantial share of the large family car market.

United States

Before the energy crisis, large, heavy, and powerful cars were popular. By 1971, the standard engine in a Chevrolet Caprice was a 400-cubic inch (6.5 liter) V8. The wheelbase of this car was 121.5 inches (3,090 mm), and Motor Trend‘s 1972 road test of the similar Chevrolet Impala achieved no more than 15 highway miles per gallon. In the fifteen years prior to the 1973 oil crisis, gasoline prices in the U.S. had lagged well behind inflation.[62]

The crisis reduced the demand for large cars.[39] Japanese imports, primarily the Toyota Corona, the Toyota Corolla, the Datsun B210, the Datsun 510, the Honda Civic, the Mitsubishi Galant (a captive import from Chrysler sold as the Dodge Colt), the Subaru DL, and later the Honda Accord all had four cylinder engines that were more fuel efficient than the typical American V8 and six cylinder engines. Japanese imports became mass-market leaders with unibody construction and front-wheel drive, which became de facto standards.

From Europe, the Volkswagen Beetle, the Volkswagen Fastback, the Renault 8, the Renault LeCar, and the Fiat Brava were successful. Detroit responded with the Ford Pinto, the Ford Maverick, the Chevrolet Vega, the Chevrolet Nova, the Plymouth Valiant and the Plymouth Volaré. American Motors sold its homegrown GremlinHornet and Pacer models.

Some buyers lamented the small size of the first Japanese compacts, and both Toyota and Nissan (then known as Datsun) introduced larger cars such as the Toyota Corona Mark II, the Toyota Cressida, the Mazda 616 and Datsun 810, which added passenger space and amenities such as air conditioning, power steering, AM-FM radios, and even power windows and central locking without increasing the price of the vehicle. A decade after the 1973 oil crisis, Honda, Toyota and Nissan, affected by the 1981 voluntary export restraints, opened US assembly plants and established their luxury divisions (Acura, Lexus and Infiniti, respectively) to distinguish themselves from their mass-market brands.

Compact trucks were introduced, such as the Toyota Hilux and the Datsun Truck, followed by the Mazda Truck (sold as the Ford Courier), and the Isuzu-built Chevrolet LUV. Mitsubishi rebranded its Forte as the Dodge D-50 a few years after the oil crisis. Mazda, Mitsubishi and Isuzu had joint partnerships with Ford, Chrysler, and GM, respectively. Later the American makers introduced their domestic replacements (Ford Ranger, Dodge Dakota and the Chevrolet S10/GMC S-15), ending their captive import policy.

An increase in imported cars into North America forced General Motors, Ford and Chrysler to introduce smaller and fuel-efficient models for domestic sales. The Dodge Omni / Plymouth Horizon from Chrysler, the Ford Fiesta and the Chevrolet Chevette all had four-cylinder engines and room for at least four passengers by the late 1970s. By 1985, the average American vehicle moved 17.4 miles per gallon, compared to 13.5 in 1970. The improvements stayed even though the price of a barrel of oil remained constant at $12 from 1974 to 1979.[39] Sales of large sedans for most makes (except Chrysler products) recovered within two model years of the 1973 crisis. The Cadillac DeVille and FleetwoodBuick ElectraOldsmobile 98Lincoln ContinentalMercury Marquis, and various other luxury oriented sedans became popular again in the mid-1970s. The only full-size models that did not recover were lower price models such as the Chevrolet Bel Air and Ford Galaxie 500. Slightly smaller models such as the Oldsmobile CutlassChevrolet Monte CarloFord Thunderbird and various others sold well.

Economical imports succeeded alongside heavy, expensive vehicles. In 1976 Toyota sold 346,920 cars (average weight around 2,100 lbs), while Cadillac sold 309,139 cars (average weight around 5,000 lbs).

Federal safety standards, such as NHTSA Federal Motor Vehicle Safety Standard 215 (pertaining to safety bumpers), and compacts like the 1974 Mustang I were a prelude to the DOT “downsize” revision of vehicle categories.[63] By 1977, GM’s full-sized cars reflected the crisis.[64] By 1979, virtually all “full-size” American cars had shrunk, featuring smaller engines and smaller outside dimensions. Chrysler ended production of their full-sized luxury sedans at the end of the 1981 model year, moving instead to a full front-wheel drivelineup for 1982 (except for the M-body Dodge Diplomat/Plymouth Gran Fury and Chrysler New Yorker Fifth Avenue sedans).

Decline of OPEC

Fluctuations of OPEC net oil export revenues since 1972[65][66]

OPEC soon lost its preeminent position, and in 1981, its production was surpassed by that of other countries. Additionally, its own member nations were divided. Saudi Arabia, trying to recover market share, increased production, pushing prices down, shrinking or eliminating profits for high-cost producers. The world price, which had peaked during the 1979 energy crisis at nearly $40 per barrel, decreased during the 1980s to less than $10 per barrel. Adjusted for inflation, oil briefly fell back to pre-1973 levels. This “sale” price was a windfall for oil-importing nations, both developing and developed.

The embargo encouraged new venues for energy exploration including Alaska, the North Sea, the Caspian Sea, and the Caucasus.[67] Exploration in the Caspian Basin and Siberia became profitable. Cooperation changed into a far more adversarial relationship as the USSR increased its production. By 1980 the Soviet Union had become the world’s largest producer.[68][69]

Part of the decline in prices and economic and geopolitical power of OPEC came from the move to alternate energy sources. OPEC had relied on price inelasticity[70] to maintain high consumption, but had underestimated the extent to which conservation and other sources of supply would eventually reduce demand. Electricity generation from nuclear power and natural gas, home heating from natural gas, and ethanol-blended gasoline all reduced the demand for oil.

The drop in prices presented a serious problem for oil-exporting countries in northern Europe and the Persian Gulf. Heavily populated, impoverished countries, whose economies were largely dependent on oil—including MexicoNigeriaAlgeria, and Libya—did not prepare for a market reversal that left them in sometimes desperate situations.

When reduced demand and increased production glutted the world market in the mid-1980s, oil prices plummeted and the cartel lost its unity. Mexico (a non-member), Nigeria, and Venezuela, whose economies had expanded in the 1970s, faced near-bankruptcy, and even Saudi Arabian economic power was significantly weakened. The divisions within OPEC made concerted action more difficult. As of 2015, OPEC had never approached its earlier dominance.

See also

References

https://en.wikipedia.org/wiki/1973_oil_crisis

 

Story 2: Revised Second Estimate of Real GDP Growth in Second Quarter of 2017 Is 3 Percent — Videos

Economic growth hits 3% in Q2

Growth Rates Are Crucial

Nightly Business Report – August 30, 2017

Can Trump’s plan double U.S. economic growth?

How Trump’s economic proposals offer a vision from the past

What is Gross Domestic Product (GDP)?

Nominal vs. Real GDP

Real GDP Per Capita and the Standard of Living

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Wednesday, August 30, 2017
BEA 17—42

* See the navigation bar at the right side of the news release text for links to data tables, contact personnel and their telephone numbers, and supplementary materials.

Lisa Mataloni: (301) 278-9083 (GDP) gdpniwd@bea.gov
Kate Pinard: (301) 278-9417 (Corporate Profits) cpniwd@bea.gov
Jeannine Aversa: (301) 278-9003 (News Media) Jeannine.Aversa@bea.gov
National Income and Product Accounts
Gross Domestic Product: Second Quarter 2017 (Second Estimate)
Corporate Profits: Second Quarter 2017 (Preliminary Estimate)
Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of
2017 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the
first quarter, real GDP increased 1.2 percent.

The GDP estimate released today is based on more complete source data than were available for the
"advance" estimate issued last month.  In the advance estimate, the increase in real GDP was 2.6
percent. With this second estimate for the second quarter, the general picture of economic growth
remains the same; increases in personal consumption expenditures (PCE) and in nonresidential fixed
investment were larger than previously estimated. These increases were partly offset by a larger
decrease in state and local government spending (see "Updates to GDP" below).

Real GDP: Percent Change from Preceding Quarter
Real gross domestic income (GDI) increased 2.9 percent in the second quarter, compared with an
increase of 2.7 percent (revised) in the first. The average of real GDP and real GDI, a supplemental
measure of U.S. economic activity that equally weights GDP and GDI, increased 3.0 percent in the
second quarter, compared with an increase of 2.0 percent in the first quarter (table 1).

The increase in real GDP in the second quarter reflected positive contributions from PCE, nonresidential
fixed investment, exports, federal government spending, and private inventory investment that were
partly offset by negative contributions from residential fixed investment and state and local government
spending. Imports, which are a subtraction in the calculation of GDP, increased (table 2).

The acceleration in real GDP in the second quarter primarily reflected upturns in private inventory
investment and federal government spending and an acceleration in PCE that were partly offset by
downturns in residential fixed investment and state and local government spending and a deceleration
in exports.

Current-dollar GDP increased 4.0 percent, or $189.0 billion, in the second quarter to a level of $19,246.7
billion. In the first quarter, current-dollar GDP increased 3.3 percent, or $152.2 billion (table 1 and table
3).

The price index for gross domestic purchases increased 0.8 percent in the second quarter, compared
with an increase of 2.6 percent in the first quarter (table 4). The PCE price index increased 0.3 percent,
compared with an increase of 2.2 percent. Excluding food and energy prices, the PCE price index
increased 0.9 percent, compared with an increase of 1.8 percent (appendix table A).


Updates to GDP

The percent change in real GDP was revised up from the advance estimate, reflecting upward revisions
to PCE and to nonresidential fixed investment that were partly offset by a downward revision to state
and local government spending. For more information, see the Technical Note. A detailed "Key Source
Data and Assumptions" file is also posted for each release.  For information on updates to GDP, see the
“Additional Information” section that follows.

                                    Advance Estimate        Second Estimate
			           (Percent change from preceding quarter)
Real GDP                                  2.6                  3.0
Current-dollar GDP                        3.6                  4.0
Real GDI                                   …                   2.9
Average of Real GDP and Real GDI           …                   3.0
Gross domestic purchases price index      0.8                  0.8
PCE price index                           0.3                  0.3


For the first quarter of 2017, the percent change in real GDI was revised from 2.6 percent to 2.7 percent
based on revised first-quarter tabulations from the BLS Quarterly Census of Employment and Wages
program.

Corporate Profits (table 12)

Profits from current production (corporate profits with inventory valuation adjustment and capital
consumption adjustment) increased $26.8 billion in the second quarter, in contrast to a decrease of
$46.2 billion in the first quarter.

Profits of domestic financial corporations decreased $29.4 billion in the second quarter, compared with
a decrease of $40.7 billion in the first quarter. Profits of domestic nonfinancial corporations increased
$64.8 billion, compared with an increase of $3.8 billion. The rest-of-the-world component of profits
decreased $8.6 billion, compared with a decrease of $9.3 billion. This measure is calculated as the
difference between receipts from the rest of the world and payments to the rest of the world. In the
second quarter, receipts increased $8.5 billion, and payments increased $17.1 billion.





                                       *          *          *




                           Next release:  September 28, 2017 at 8:30 A.M. EDT
                     Gross Domestic Product:  Second Quarter 2017 (Third Estimate)
                      Corporate Profits:  Second Quarter 2017 (Revised Estimate)




                                       Additional Information

Resources

Additional resources available at www.bea.gov:
•	Stay informed about BEA developments by reading the BEA blog, signing up for BEA’s email
        subscription service, or following BEA on Twitter @BEA_News.
•	Historical time series for these estimates can be accessed in BEA’s Interactive Data Application.
•	Access BEA data by registering for BEA’s Data Application Programming Interface (API).
•	For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business.
•	BEA's news release scheduleNIPA Handbook:  Concepts and Methods of the U.S. National Income and Product Accounts

Definitions

Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy
less the value of the goods and services used up in production. GDP is also equal to the sum of personal
consumption expenditures, gross private domestic investment, net exports of goods and services, and
government consumption expenditures and gross investment.

Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP.
In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ
because they are constructed using largely independent source data. Real GDI is calculated by deflating
gross domestic income using the GDP price index as the deflator, and is therefore conceptually
equivalent to real GDP.

Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is,
at “market value.” Also referred to as “nominal estimates” or as “current-price estimates.”
Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes.
The gross domestic purchases price index measures the prices of final goods and services purchased by
U.S. residents.

The personal consumption expenditure price index measures the prices paid for the goods and services
purchased by, or on the behalf of, “persons.”

Profits from current production, referred to as corporate profits with inventory valuation adjustment
(IVA) and capital consumption adjustment (CCAdj) in the NIPAs, is a measure of the net income of
corporations before deducting income taxes that is consistent with the value of goods and services
measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and
depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic
measures used in the national income and product accounts.

For more definitions, see the Glossary: National Income and Product Accounts.


Statistical conventions

Annual rates. Quarterly values are expressed at seasonally-adjusted annual rates (SAAR), unless
otherwise specified. Dollar changes are calculated as the difference between these SAAR values. For
detail, see the FAQ “Why does BEA publish estimates at annual rates?”

Percent changes in quarterly series are calculated from unrounded data and are displayed at annual
rates, unless otherwise specified. For details, see the FAQ “How is average annual growth calculated?”

Quantities and prices. Quantities, or “real” volume measures, and prices are expressed as index
numbers with a specified reference year equal to 100 (currently 2009). Quantity and price indexes are
calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent
periods (quarters for quarterly data and annuals for annual data). “Real” dollar series are calculated by
multiplying the published quantity index by the current dollar value in the reference year (2009) and
then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels
are conceptually the same; any differences are due to rounding.

Chained-dollar values are not additive because the relative weights for a given period differ from those
of the reference year. In tables that display chained-dollar values, a “residual” line shows the difference
between the sum of detailed chained-dollar series and its corresponding aggregate.


Updates to GDP

BEA releases three vintages of the current quarterly estimate for GDP:  "Advance" estimates are
released near the end of the first month following the end of the quarter and are based on source data
that are incomplete or subject to further revision by the source agency; “second” and “third” estimates
are released near the end of the second and third months, respectively, and are based on more detailed
and more comprehensive data as they become available.

Annual and comprehensive updates are typically released in late July. Annual updates generally cover at
least the 3 most recent calendar years (and their associated quarters) and incorporate newly available
major annual source data as well as some changes in methods and definitions to improve the accounts.
Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major
periodic source data, as well as major conceptual improvements.
The table below shows the average revisions to the quarterly percent changes in real GDP between
different estimate vintages, without regard to sign.

Vintage                               Average Revision Without Regard to Sign
                                         (percentage points, annual rates)
Advance to second                                     0.5
Advance to third                                      0.6
Second to third                                       0.2
Advance to latest                                     1.1
Note - Based on estimates from 1993 through 2015. For more information on GDP
updates, see Revision Information on the BEA Web site.

The larger average revision from the advance to the latest estimate reflects the fact that periodic
comprehensive updates include major statistical and methodological improvements.

Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic
profits and on net interest of domestic industries are not available. For fourth quarter estimates, these
data are not available until the third estimate.

https://www.bea.gov/newsreleases/national/gdp/2017/gdp2q17_2nd.htm

 

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Shows 955

Listen To Pronk Pops Podcast or Download Shows 946-954

Listen To Pronk Pops Podcast or Download Shows 938-945

Listen To Pronk Pops Podcast or Download Shows 926-937

Listen To Pronk Pops Podcast or Download Shows 916-925

Listen To Pronk Pops Podcast or Download Shows 906-915

Listen To Pronk Pops Podcast or Download Shows 889-896

Listen To Pronk Pops Podcast or Download Shows 884-888

Listen To Pronk Pops Podcast or Download Shows 878-883

Listen To Pronk Pops Podcast or Download Shows 870-877

Listen To Pronk Pops Podcast or Download Shows 864-869

Listen To Pronk Pops Podcast or Download Shows 857-863

Listen To Pronk Pops Podcast or Download Shows 850-856

Listen To Pronk Pops Podcast or Download Shows 845-849

Listen To Pronk Pops Podcast or Download Shows 840-844

Listen To Pronk Pops Podcast or Download Shows 833-839

Listen To Pronk Pops Podcast or Download Shows 827-832

Listen To Pronk Pops Podcast or Download Shows 821-826

Listen To Pronk Pops Podcast or Download Shows 815-820

Listen To Pronk Pops Podcast or Download Shows 806-814

Listen To Pronk Pops Podcast or Download Shows 800-805

Listen To Pronk Pops Podcast or Download Shows 793-799

Listen To Pronk Pops Podcast or Download Shows 785-792

Listen To Pronk Pops Podcast or Download Shows 777-784

Listen To Pronk Pops Podcast or Download Shows 769-776

Listen To Pronk Pops Podcast or Download Shows 759-768

Listen To Pronk Pops Podcast or Download Shows 751-758

Listen To Pronk Pops Podcast or Download Shows 745-750

Listen To Pronk Pops Podcast or Download Shows 738-744

Listen To Pronk Pops Podcast or Download Shows 732-737

Listen To Pronk Pops Podcast or Download Shows 727-731

Listen To Pronk Pops Podcast or Download Shows 720-726

Listen To Pronk Pops Podcast or DownloadShows 713-719

Listen To Pronk Pops Podcast or DownloadShows 705-712

Listen To Pronk Pops Podcast or Download Shows 695-704

Listen To Pronk Pops Podcast or Download Shows 685-694

Listen To Pronk Pops Podcast or Download Shows 675-684

Listen To Pronk Pops Podcast or Download Shows 668-674

Listen To Pronk Pops Podcast or Download Shows 660-667

Listen To Pronk Pops Podcast or Download Shows 651-659

Listen To Pronk Pops Podcast or Download Shows 644-650

Listen To Pronk Pops Podcast or Download Shows 637-643

Listen To Pronk Pops Podcast or Download Shows 629-636

Listen To Pronk Pops Podcast or Download Shows 617-628

Listen To Pronk Pops Podcast or Download Shows 608-616

Listen To Pronk Pops Podcast or Download Shows 599-607

Listen To Pronk Pops Podcast or Download Shows 590-598

Listen To Pronk Pops Podcast or Download Shows 585- 589

Listen To Pronk Pops Podcast or Download Shows 575-584

Listen To Pronk Pops Podcast or Download Shows 565-574

Listen To Pronk Pops Podcast or Download Shows 556-564

Listen To Pronk Pops Podcast or Download Shows 546-555

Listen To Pronk Pops Podcast or Download Shows 538-545

Listen To Pronk Pops Podcast or Download Shows 532-537

Listen To Pronk Pops Podcast or Download Shows 526-531

Listen To Pronk Pops Podcast or Download Shows 519-525

Listen To Pronk Pops Podcast or Download Shows 510-518

Listen To Pronk Pops Podcast or Download Shows 500-509

Listen To Pronk Pops Podcast or Download Shows 490-499

Listen To Pronk Pops Podcast or Download Shows 480-489

Listen To Pronk Pops Podcast or Download Shows 473-479

Listen To Pronk Pops Podcast or Download Shows 464-472

Listen To Pronk Pops Podcast or Download Shows 455-463

Listen To Pronk Pops Podcast or Download Shows 447-454

Listen To Pronk Pops Podcast or Download Shows 439-446

Listen To Pronk Pops Podcast or Download Shows 431-438

Listen To Pronk Pops Podcast or Download Shows 422-430

Listen To Pronk Pops Podcast or Download Shows 414-421

Listen To Pronk Pops Podcast or Download Shows 408-413

Listen To Pronk Pops Podcast or Download Shows 400-407

Listen To Pronk Pops Podcast or Download Shows 391-399

Listen To Pronk Pops Podcast or Download Shows 383-390

Listen To Pronk Pops Podcast or Download Shows 376-382

Listen To Pronk Pops Podcast or Download Shows 369-375

Listen To Pronk Pops Podcast or Download Shows 360-368

Listen To Pronk Pops Podcast or Download Shows 354-359

Listen To Pronk Pops Podcast or Download Shows 346-353

Listen To Pronk Pops Podcast or Download Shows 338-345

Listen To Pronk Pops Podcast or Download Shows 328-337

Listen To Pronk Pops Podcast or Download Shows 319-327

Listen To Pronk Pops Podcast or Download Shows 307-318

Listen To Pronk Pops Podcast or Download Shows 296-306

Listen To Pronk Pops Podcast or Download Shows 287-295

Listen To Pronk Pops Podcast or Download Shows 277-286

Listen To Pronk Pops Podcast or Download Shows 264-276

Listen To Pronk Pops Podcast or Download Shows 250-263

Listen To Pronk Pops Podcast or Download Shows 236-249

Listen To Pronk Pops Podcast or Download Shows 222-235

Listen To Pronk Pops Podcast or Download Shows 211-221

Listen To Pronk Pops Podcast or Download Shows 202-210

Listen To Pronk Pops Podcast or Download Shows 194-201

Listen To Pronk Pops Podcast or Download Shows 184-193

Listen To Pronk Pops Podcast or Download Shows 174-183

Listen To Pronk Pops Podcast or Download Shows 165-173

Listen To Pronk Pops Podcast or Download Shows 158-164

Listen To Pronk Pops Podcast or Download Shows 151-157

Listen To Pronk Pops Podcast or Download Shows 143-150

Listen To Pronk Pops Podcast or Download Shows 135-142

Listen To Pronk Pops Podcast or Download Shows 131-134

Listen To Pronk Pops Podcast or Download Shows 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Show 93

Listen To Pronk Pops Podcast or Download Show 92

Listen To Pronk Pops Podcast or Download Show 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

Read Full Post | Make a Comment ( None so far )

The Pronk Pops Show 930, July 18, 2017, Story 1: Will Trump Challenge The Washington Establishment To Achieve His Promises? You Betcha. Will He Win? Long Shot –A Movement Is Not A Viable Political Party That Can Beat The Democratic Party and Republican Party and Their Allies In The Big Government Bureaucracies, Big Lie Media and The Owner Donor Class — Votes Count — Independence Party???– Videos –Story 2: Replace Republicans With D and F Conservative Review Grades and Scores Root and Branch With Real Conservatives, Classical Liberals and Libertarians Until New Political Party Is Formed and Becomes A Viable Party — Videos

Posted on July 19, 2017. Filed under: American History, Breaking News, Budgetary Policy, Communications, Congress, Constitutional Law, Corruption, Countries, Culture, Defense Spending, Diet, Donald J. Trump, Donald Trump, Economics, Education, Elections, Empires, Employment, Energy, Exercise, Federal Government, Fiscal Policy, Food, Former President Barack Obama, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, Health, Health Care, Health Care Insurance, History, House of Representatives, Human, Human Behavior, Independence, Insurance, Labor Economics, Language, Law, Life, Lying, Media, Medicare, Mike Pence, Monetary Policy, News, Philosophy, Photos, Politics, Polls, President Barack Obama, President Trump, Progressives, Radio, Raymond Thomas Pronk, Rule of Law, Scandals, Senate, Social Security, Tax Policy, Trade Policy, Unemployment, United States of America, Videos, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 930,  July 18, 2017

Pronk Pops Show 929,  July 17, 2017

Pronk Pops Show 928,  July 13, 2017

Pronk Pops Show 927,  July 12, 2017

Pronk Pops Show 926,  July 11, 2017

Pronk Pops Show 925,  July 10, 2017

Pronk Pops Show 924,  July 6, 2017

Pronk Pops Show 923,  July 5, 2017

Pronk Pops Show 922,  July 3, 2017 

Pronk Pops Show 921,  June 29, 2017

Pronk Pops Show 920,  June 28, 2017

Pronk Pops Show 919,  June 27, 2017

Pronk Pops Show 918,  June 26, 2017 

Pronk Pops Show 917,  June 22, 2017

Pronk Pops Show 916,  June 21, 2017

Pronk Pops Show 915,  June 20, 2017

Pronk Pops Show 914,  June 19, 2017

Pronk Pops Show 913,  June 16, 2017

Pronk Pops Show 912,  June 15, 2017

Pronk Pops Show 911,  June 14, 2017

Pronk Pops Show 910,  June 13, 2017

Pronk Pops Show 909,  June 12, 2017

Pronk Pops Show 908,  June 9, 2017

Pronk Pops Show 907,  June 8, 2017

Pronk Pops Show 906,  June 7, 2017

Pronk Pops Show 905,  June 6, 2017

Pronk Pops Show 904,  June 5, 2017

Pronk Pops Show 903,  June 1, 2017

Pronk Pops Show 902,  May 31, 2017

Pronk Pops Show 901,  May 30, 2017

Pronk Pops Show 900,  May 25, 2017

Pronk Pops Show 899,  May 24, 2017

Pronk Pops Show 898,  May 23, 2017

Pronk Pops Show 897,  May 22, 2017

Pronk Pops Show 896,  May 18, 2017

Pronk Pops Show 895,  May 17, 2017

Pronk Pops Show 894,  May 16, 2017

Pronk Pops Show 893,  May 15, 2017

Pronk Pops Show 892,  May 12, 2017

Pronk Pops Show 891,  May 11, 2017

Pronk Pops Show 890,  May 10, 2017

Pronk Pops Show 889,  May 9, 2017

Pronk Pops Show 888,  May 8, 2017

Pronk Pops Show 887,  May 5, 2017

Pronk Pops Show 886,  May 4, 2017

Pronk Pops Show 885,  May 3, 2017

Pronk Pops Show 884,  May 1, 2017

Pronk Pops Show 883 April 28, 2017

Pronk Pops Show 882: April 27, 2017

Pronk Pops Show 881: April 26, 2017

Pronk Pops Show 880: April 25, 2017

Pronk Pops Show 879: April 24, 2017

Pronk Pops Show 878: April 21, 2017

Pronk Pops Show 877: April 20, 2017

Pronk Pops Show 876: April 19, 2017

Pronk Pops Show 875: April 18, 2017

Pronk Pops Show 874: April 17, 2017

Pronk Pops Show 873: April 13, 2017

Pronk Pops Show 872: April 12, 2017

Pronk Pops Show 871: April 11, 2017

Pronk Pops Show 870: April 10, 2017

Pronk Pops Show 869: April 7, 2017

Pronk Pops Show 868: April 6, 2017

Pronk Pops Show 867: April 5, 2017

Pronk Pops Show 866: April 3, 2017

Image result for cartoons big government republicans

Image result for cartoons big government republicansImage result for branco cartoons big government republicansImage result for branco cartoons big government republicansImage result for branco cartoons big government republicans failure to repeal obamacareImage result for branco cartoons big government republicans failure to repeal obamacareImage result for branco cartoons big government republicans failure to repeal obamacareImage result for branco cartoons big government republicans failure to repeal obamacare

Thank you from cartoonist A.F. Branco

Thank you for your conservative cartoons and many laughs.

An interview with political cartoonist Antonio F. Branco

Story 1: Will Trump Challenge The Washington Establishment To Achieve His Promises? You Betcha. Will He Win? Long Shot –A Movement Is Not A Viable Political Party That Can Beat The Democratic Party and Republican Party and Their Allies In The Big Government Bureaucracies, Big Lie Media and The Owner Donor Class — Votes Count — Independence Party?? — Videos —

Donald Trump vs The Establishment

How Liberal Is Donald Trump?

Full Show – Republicans Embrace Failing Obamacare, Trump Says Let It Fail

Liberals react to the 2016 Election result exactly the way you expected.

The Donald and butthurt Liberals

Milton Friedman on Classical Liberalism

Milton Friedman: The Two Major Enemies of a Free Society

Milton Friedman schools young Bernie Sanders about poverty

Milton Friedman: Why people refuse to reduce the government size?

The Difference Between Classical Liberals and Libertarians (Steve Davies Part 2)

What Is Libertarianism? – Learn Liberty

What is Classical Liberalism? – Learn Liberty

What Is Libertarianism? – Learn Liberty

The Decline and Triumph of Classical Liberalism (Pt. 1) – Learn Liberty

Classical Liberalism: The Decline and Triumph of Classical Liberalism (Pt. 2) – Learn Liberty

Pat Buchanan: The establishment is in a panic over Trump

The Rise of Conservatism: Crash Course US History #41

The Reagan Revolution: Crash Course US History #43

How the Republican Party went from Lincoln to Trump

From white supremacy to Barack Obama: The history of the Democratic Party

The Inconvenient Truth About the Democratic Party

Bill Whittle – Racism – Democrats and Republicans switch sides?

The history of the racist Democrat party in under 12 minutes by Billy Whittle

Who Are America’s Elites? – Ben Shapiro

456. The Iron Fist of the Ruling Class | Angelo Codevilla

LIMBAUGH: Washington Establishment FEAR Trump SUCCEEDING

Rush Limbaugh: “The Media did not make Donald Trump, and they can’t destroy him”

How Did The U.S. End Up With A Two-Party System?

George Carlin ~ The Ruling Class And What They Own

Story 2: Replace Republicans With D and F Conservative Review Grades and Scores Root and Branch With Real Conservatives, Classical Liberals and Libertarians Until New Political Party Is Formed and Becomes A Viable Party — Videos

Conservative Review: LIBERTY SCORECARD

https://www.conservativereview.com/scorecard

MUST WATCH: President Trump Reacts to GOP Healthcare Bill Collapse – “Let ObamaCare Fail” (FNN)

Sarah Sanders Press Briefing on GOP Healthcare Bill Failure 7/18/17

Richard Epstein: Obamacare’s Collapse, the 2016 Election, & More

“The Classical Liberal Constitution” (featuring the author, Richard Epstein)

The Classical Liberal Constitution

Total Proof Republicans Lied About Repealing Obamacare

Hannity to GOP: Get the job done or get out of Washington

Sen. Paul: The Republican plan kept the death spiral

The Newsroom – Rinos, Real Republicans, The Tea Party, The Founding Fathers on religion and more

Mark Levin Destroys Leftist Democrats And RINO Republicans

Senate Majority Leader Mitch McConnell

KY F 42%

Republican Senate Whip John Cornyn

 

 

 

House Speaker Paul Ryan

House Majority Leader Kevin McCarthy

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Shows 926-930

Listen To Pronk Pops Podcast or Download Shows 916-925

Listen To Pronk Pops Podcast or Download Shows 906-915

Listen To Pronk Pops Podcast or Download Shows 889-896

Listen To Pronk Pops Podcast or Download Shows 884-888

Listen To Pronk Pops Podcast or Download Shows 878-883

Listen To Pronk Pops Podcast or Download Shows 870-877

Listen To Pronk Pops Podcast or Download Shows 864-869

Listen To Pronk Pops Podcast or Download Shows 857-863

Listen To Pronk Pops Podcast or Download Shows 850-856

Listen To Pronk Pops Podcast or Download Shows 845-849

Listen To Pronk Pops Podcast or Download Shows 840-844

Listen To Pronk Pops Podcast or Download Shows 833-839

Listen To Pronk Pops Podcast or Download Shows 827-832

Listen To Pronk Pops Podcast or Download Shows 821-826

Listen To Pronk Pops Podcast or Download Shows 815-820

Listen To Pronk Pops Podcast or Download Shows 806-814

Listen To Pronk Pops Podcast or Download Shows 800-805

Listen To Pronk Pops Podcast or Download Shows 793-799

Listen To Pronk Pops Podcast or Download Shows 785-792

Listen To Pronk Pops Podcast or Download Shows 777-784

Listen To Pronk Pops Podcast or Download Shows 769-776

Listen To Pronk Pops Podcast or Download Shows 759-768

Listen To Pronk Pops Podcast or Download Shows 751-758

Listen To Pronk Pops Podcast or Download Shows 745-750

Listen To Pronk Pops Podcast or Download Shows 738-744

Listen To Pronk Pops Podcast or Download Shows 732-737

Listen To Pronk Pops Podcast or Download Shows 727-731

Listen To Pronk Pops Podcast or Download Shows 720-726

Listen To Pronk Pops Podcast or DownloadShows 713-719

Listen To Pronk Pops Podcast or DownloadShows 705-712

Listen To Pronk Pops Podcast or Download Shows 695-704

Listen To Pronk Pops Podcast or Download Shows 685-694

Listen To Pronk Pops Podcast or Download Shows 675-684

Listen To Pronk Pops Podcast or Download Shows 668-674

Listen To Pronk Pops Podcast or Download Shows 660-667

Listen To Pronk Pops Podcast or Download Shows 651-659

Listen To Pronk Pops Podcast or Download Shows 644-650

Listen To Pronk Pops Podcast or Download Shows 637-643

Listen To Pronk Pops Podcast or Download Shows 629-636

Listen To Pronk Pops Podcast or Download Shows 617-628

Listen To Pronk Pops Podcast or Download Shows 608-616

Listen To Pronk Pops Podcast or Download Shows 599-607

Listen To Pronk Pops Podcast or Download Shows 590-598

Listen To Pronk Pops Podcast or Download Shows 585- 589

Listen To Pronk Pops Podcast or Download Shows 575-584

Listen To Pronk Pops Podcast or Download Shows 565-574

Listen To Pronk Pops Podcast or Download Shows 556-564

Listen To Pronk Pops Podcast or Download Shows 546-555

Listen To Pronk Pops Podcast or Download Shows 538-545

Listen To Pronk Pops Podcast or Download Shows 532-537

Listen To Pronk Pops Podcast or Download Shows 526-531

Listen To Pronk Pops Podcast or Download Shows 519-525

Listen To Pronk Pops Podcast or Download Shows 510-518

Listen To Pronk Pops Podcast or Download Shows 500-509

Listen To Pronk Pops Podcast or Download Shows 490-499

Listen To Pronk Pops Podcast or Download Shows 480-489

Listen To Pronk Pops Podcast or Download Shows 473-479

Listen To Pronk Pops Podcast or Download Shows 464-472

Listen To Pronk Pops Podcast or Download Shows 455-463

Listen To Pronk Pops Podcast or Download Shows 447-454

Listen To Pronk Pops Podcast or Download Shows 439-446

Listen To Pronk Pops Podcast or Download Shows 431-438

Listen To Pronk Pops Podcast or Download Shows 422-430

Listen To Pronk Pops Podcast or Download Shows 414-421

Listen To Pronk Pops Podcast or Download Shows 408-413

Listen To Pronk Pops Podcast or Download Shows 400-407

Listen To Pronk Pops Podcast or Download Shows 391-399

Listen To Pronk Pops Podcast or Download Shows 383-390

Listen To Pronk Pops Podcast or Download Shows 376-382

Listen To Pronk Pops Podcast or Download Shows 369-375

Listen To Pronk Pops Podcast or Download Shows 360-368

Listen To Pronk Pops Podcast or Download Shows 354-359

Listen To Pronk Pops Podcast or Download Shows 346-353

Listen To Pronk Pops Podcast or Download Shows 338-345

Listen To Pronk Pops Podcast or Download Shows 328-337

Listen To Pronk Pops Podcast or Download Shows 319-327

Listen To Pronk Pops Podcast or Download Shows 307-318

Listen To Pronk Pops Podcast or Download Shows 296-306

Listen To Pronk Pops Podcast or Download Shows 287-295

Listen To Pronk Pops Podcast or Download Shows 277-286

Listen To Pronk Pops Podcast or Download Shows 264-276

Listen To Pronk Pops Podcast or Download Shows 250-263

Listen To Pronk Pops Podcast or Download Shows 236-249

Listen To Pronk Pops Podcast or Download Shows 222-235

Listen To Pronk Pops Podcast or Download Shows 211-221

Listen To Pronk Pops Podcast or Download Shows 202-210

Listen To Pronk Pops Podcast or Download Shows 194-201

Listen To Pronk Pops Podcast or Download Shows 184-193

Listen To Pronk Pops Podcast or Download Shows 174-183

Listen To Pronk Pops Podcast or Download Shows 165-173

Listen To Pronk Pops Podcast or Download Shows 158-164

Listen To Pronk Pops Podcast or Download Shows151-157

Listen To Pronk Pops Podcast or Download Shows 143-150

Listen To Pronk Pops Podcast or Download Shows 135-142

Listen To Pronk Pops Podcast or Download Shows 131-134

Listen To Pronk Pops Podcast or Download Shows 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Show 93

Listen To Pronk Pops Podcast or Download Show 92

Listen To Pronk Pops Podcast or Download Show 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

 

Read Full Post | Make a Comment ( None so far )

The Pronk Pops Show 929, July 17, 2017, Story 1: Downsizing The Federal Government or Draining The Swap: Trump Should Permanently Close 8 Departments Not Appoint People To Run Them — Cut All Other Department Budgets by 20% — Video — Story 2: Federal Spending Breaks $4 Trillion for Fiscal Year 2017 — Story 3: The American People and President Trump Vs. Political Elitist Establishment of The Big Government Democratic and Republican Parties — Videos

Posted on July 18, 2017. Filed under: American History, Blogroll, Breaking News, Business, Cartoons, Coal, Communications, Congress, Constitutional Law, Corruption, Countries, Crime, Culture, Currencies, Defense Spending, Donald J. Trump, Donald J. Trump, Donald Trump, Education, Elections, Empires, Employment, Federal Government, Government, Government Spending, Health, Health Care, Health Care Insurance, History, House of Representatives, Human, Independence, Insurance, Law, Life, Medicare, Movies, Natural Gas, Oil, People, Philosophy, Photos, Politics, Polls, President Trump, Progressives, Raymond Thomas Pronk, Resources, Security, Senate, Social Security, Taxation, Taxes, U.S. Dollar, Unemployment, United States of America, Videos, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 929,  July 17, 2017

Pronk Pops Show 928,  July 13, 2017

Pronk Pops Show 927,  July 12, 2017

Pronk Pops Show 926,  July 11, 2017

Pronk Pops Show 925,  July 10, 2017

Pronk Pops Show 924,  July 6, 2017

Pronk Pops Show 923,  July 5, 2017

Pronk Pops Show 922,  July 3, 2017 

Pronk Pops Show 921,  June 29, 2017

Pronk Pops Show 920,  June 28, 2017

Pronk Pops Show 919,  June 27, 2017

Pronk Pops Show 918,  June 26, 2017 

Pronk Pops Show 917,  June 22, 2017

Pronk Pops Show 916,  June 21, 2017

Pronk Pops Show 915,  June 20, 2017

Pronk Pops Show 914,  June 19, 2017

Pronk Pops Show 913,  June 16, 2017

Pronk Pops Show 912,  June 15, 2017

Pronk Pops Show 911,  June 14, 2017

Pronk Pops Show 910,  June 13, 2017

Pronk Pops Show 909,  June 12, 2017

Pronk Pops Show 908,  June 9, 2017

Pronk Pops Show 907,  June 8, 2017

Pronk Pops Show 906,  June 7, 2017

Pronk Pops Show 905,  June 6, 2017

Pronk Pops Show 904,  June 5, 2017

Pronk Pops Show 903,  June 1, 2017

Pronk Pops Show 902,  May 31, 2017

Pronk Pops Show 901,  May 30, 2017

Pronk Pops Show 900,  May 25, 2017

Pronk Pops Show 899,  May 24, 2017

Pronk Pops Show 898,  May 23, 2017

Pronk Pops Show 897,  May 22, 2017

Pronk Pops Show 896,  May 18, 2017

Pronk Pops Show 895,  May 17, 2017

Pronk Pops Show 894,  May 16, 2017

Pronk Pops Show 893,  May 15, 2017

Pronk Pops Show 892,  May 12, 2017

Pronk Pops Show 891,  May 11, 2017

Pronk Pops Show 890,  May 10, 2017

Pronk Pops Show 889,  May 9, 2017

Pronk Pops Show 888,  May 8, 2017

Pronk Pops Show 887,  May 5, 2017

Pronk Pops Show 886,  May 4, 2017

Pronk Pops Show 885,  May 3, 2017

Pronk Pops Show 884,  May 1, 2017

Pronk Pops Show 883 April 28, 2017

Pronk Pops Show 882: April 27, 2017

Pronk Pops Show 881: April 26, 2017

Pronk Pops Show 880: April 25, 2017

Pronk Pops Show 879: April 24, 2017

Pronk Pops Show 878: April 21, 2017

Pronk Pops Show 877: April 20, 2017

Pronk Pops Show 876: April 19, 2017

Pronk Pops Show 875: April 18, 2017

Pronk Pops Show 874: April 17, 2017

Pronk Pops Show 873: April 13, 2017

Pronk Pops Show 872: April 12, 2017

Pronk Pops Show 871: April 11, 2017

Pronk Pops Show 870: April 10, 2017

Pronk Pops Show 869: April 7, 2017

Pronk Pops Show 868: April 6, 2017

Pronk Pops Show 867: April 5, 2017

Pronk Pops Show 866: April 3, 2017

Image result for cartoons on big government democratic and republican partiesImage result for cartoons on big fat governmentBar Chart of Government Spending by AgencyImage result for cartoons on big government democratic and republican parties

Image result for cartoons the american people and trump vs washington establishment

 

Story 1: Downsizing The Federal Government or Draining The Swap: Trump Should Permanently Close 8 Departments Not Appoint People To Run Them — Cut All Other Department Budgets by 20% — Video

Order of Establishment of the Executive Departments

Rank*
Year
Executive Departments
1
1789
2
1789
3
1789
1947
Department of War
Department of Defense (merger of War and Navy departments)
4
1789
1870
Attorney General
Department of Justice
1798
Department of the Navy
(merged with War Department in 1947)
1829
Postmaster General
(Post Office privatized in 1970)
5
1849
6
1862
1903
Department of Commerce and Labor
(Departments split in 1913)
7
1913
8
1913
9
1953
1980
10
1965
11
1966
12
1977
13
1979
14
1989
15
2002

Close Permanently The Following Federal Departments

1. Department of Agriculture

2. Department of Commerce

3. Department of Education

4. Department of Energy

5. Department of Housing and Urban Development

6. Department of Interior

7. Department of Labor

8. Department of Transportation

Keep Open The Following Federal Departments 

But Cut Budgets By 20 Percent

1. Department of Defense

2. Department of State

3. Department of Treasury

4. Department of Justice

5. Department of Veterans’ Affairs

6. Department of Health and Human Services

7. Department of Homeland Security

How to Solve America’s Spending Problem

Government: Is it Ever Big Enough?

The Bigger the Government…

The War on Work

What Creates Wealth?

The Promise of Free Enterprise

Why Capitalism Works

What is Crony Capitalism?

WH Website Asks Americans to Suggest Ways to Reorganize, Eliminate Federal Gov’t

Trump signs order to cut government costs

President Trump Signs Executive Order to Cut Government Costs

Trump orders a total examination and reorganization of federal agencies.

Downsizing the Federal Government

Dan Mitchell Commenting on Downsizing Government and Federal Bureaucracy

TAKE IT TO THE LIMITS: Milton Friedman on Libertarianism

Bureaucracy Basics: Crash Course Government and Politics #15

Types of Bureaucracies: Crash Course Government and Politics #16

Controlling Bureaucracies: Crash Course Government and Politics #17

Can the United States Reform its Way to Financial Security?

 

President Trump has filled far fewer top jobs in cabinet or cabinet-level agencies than President Barack Obama had at this point in his presidency.

The status of top jobs
25 weeks into each administration:

Confirmed
by Senate
Nominated or
Announced
Empty
Trump 33 57 120
Obama 126 43 41

Story 2: Federal Spending Breaks $4 Trillion for Fiscal Year 2017 — Videos

Bar Chart of Government Spending by Agency

The bar chart comes directly from the Monthly Treasury Statement published by the U. S. Treasury Department. <—- Click on the chart for more info.

The “Debt Total” bar chart is generated from the Treasury Department’s “Debt Report” found on the Treasury Direct web site. It has links to search the debt for any given date range, and access to debt interest information. It is a direct source to government provided budget information.

$$$ — “Deficit” vs. “Debt”— $$$

Suppose you spend more money this month than your income. This situation is called a “budget deficit”. So you borrow (ie; use your credit card). The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you spend more than your income, another deficit, you must borrow some more, and you’ll still have to pay the interest on your debt (now larger). If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don’t have any money left over for anything else. This situation is known as bankruptcy.

“Reducing the deficit” is a meaningless soundbite. If the DEFICIT is any amount more than ZERO, we have to borrow more and the DEBT grows.

Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress’s appropriations. Here is a direct link to the Congressional Budget Office web site. Check out the CBO’s assessment of the Debt. We have to pay interest* on that huge, growing debt; and it dramatically cuts into our budget.

Huge Mistake! White House Reveals Budget Deficit Will Be $250 BILLION Greater

Federal Spending to Top a Record $4 Trillion in FY2017

1. June Unemployment Report Was Better Than Expected
2. Federal Spending to Blow Through $4 Trillion in FY2017
3. What Does the Government Spend Our Tax Dollars On?
4.Even President Trump’s Federal Budget Increases Spending

Overview

Both the Congressional Budget Office and the White House Office of Management and Budget announced last week that federal spending will top $4 trillion for the first time ever in fiscal 2017, which began on October 1, 2016 and ends on September 30.

The Congressional Budget Office released its annual “Budget and Economic Outlook: 2017 to 2027” last week in which it projected that total federal spending in fiscal 2017 will hit a record $4,008,000,000,000. That’s up from the previous record of $3.853 trillion spent in fiscal 2016.

While most Americans have no idea how much our out-of-control government spends each year, much less what our enormous annual federal budget deficits are, long-time clients and readers, know this is a topic I focus on and warn about each and every year – and will again today. This is something every American voter should absolutely know about!

Yet before we get to those discussions, I will summarize last Friday’s better than expected unemployment report for June. The strong jobs report had several significant implications for the economy going forward as I will discuss below. Let’s get started.

June Unemployment Report Was Better Than Expected

Friday’s unemployment report for June was a welcome surprise, especially following the weaker than expected report for May. The Labor Department reported at the end of last week that the economy created 222,000 new jobs in June, up from only 152,000 in May – and well above the pre-report expectation of 179,000.

The increase in new jobs in June was the largest in four months and the second highest of the year. Hiring was also revised higher for May and April than previously reported. The pickup in hiring in the spring coincides with a fresh spurt of growth in the economy after a slow start to the year.

Monthly change in nonfarm payrolls

The headline unemployment rate rose slightly from 4.3% in May to 4.4% in June, but that was largely because more jobless Americans rejoined the labor force by actively looking for work last month. That’s a good thing.

Hourly pay rose 0.2% to $26.25 an hour in June, the government said. Over the last 12 months, wages have only advanced a modest 2.5% — up slightly from the rate reported for May, but still well below the usual gains at this late stage of an economic expansion.

Underemployment, which measures people who want to be working full-time but are not, rose to 8.6% in June from 8.4% in May. It‘s still far lower than in prior years but it’s never a good sign to see this measure tick up.

The number of Americans who work part-time but want a full-time job also rose a notch to 5.3 million in June. Part-time employment has been a persistent problem for job seekers since the recession ended, as many companies try to limit increases in full-time workers.

Overall, economists say the strong job gains in June reflect a healthy labor market. Some believe we are approaching the level of “full employment.”

Federal Spending to Blow Through $4 Trillion in FY2017

The Congressional Budget Office (CBO) and the White House Office of Management and Budget (OMB) reported last week that federal spending will top $4 trillion for the first time ever in fiscal 2017, which ends on September 30.

The CBO released its annual “Budget and Economic Outlook: 2017 to 2027” last week in which it projected that total federal spending in fiscal 2017 will hit a record $4.008 trillion. That’s up from the previous record of $3.853 trillion spent in fiscal 2016.

Federal spending to top $4 trillion

The record $4.008 trillion the CBO estimates the federal government will spend this fiscal year equals $33,805 for each of the 118,562,000 households the Census Bureau estimated were in the United States as of March.

I should note for the record that while federal spending will top $4 trillion for the first time this year while Donald Trump is president, this year’s spending is actually tied to Barack Obama’s budget passed in his last year in office. So don’t blame President Trump… yet.

The federal budget goes up every single year, no matter which party is in office, and no matter that our national debt will top $20 trillion later this year. Clearly, federal spending is out of control, and no one in Washington, DC has the will to stop it – including President Trump (more on this below).

Apparently, leaders in both parties no longer believe there is a limit to how much our country can borrow and spend. There is no longer any sense that our ballooning national debt will at some point trigger a new financial crisis much worse than what we experienced in late 2007-early 2009.

Worst of all, WE keep electing and re-electing these people. In that sense, it’s our own fault.

What Does the Government Spend Our Tax Dollars On?

Many (if not most) Americans don’t understand how and where the government spends our tax dollars and the tens of billions it borrows each and every year. That’s what we will take a look at in the discussion just below. Let’s start with this graphic for an overview.

Government spending

Pew Research had an excellent analysis on how the federal government spends our money (and what it borrows) earlier this year. I’ll reprint the highlights for you below (emphasis mine).

“When thinking about federal spending, it’s worth remembering that, as former Treasury official Peter Fisher once said, the federal government is basically ‘a gigantic insurance company,’ albeit one with ‘a sideline business in national defense and homeland security.’

In fiscal year 2016, which ended this past September 30, the federal government spent just under $4 trillion, and about $2.7 trillion – more than two-thirds of the total – went for various kinds of social insurance (Social Security, Medicaid and Medicare, unemployment compensation, Veterans benefits and the like).

Another $604 billion, or 15.3% of total spending, went for national defense; net interest payments on government debt was about $240 billion, or 6.1%. Education aid and related social services were about$114 billion, or less than 3% of all federal spending. Everything else – crop subsidies, space travel, highway repairs, national parks, foreign aid and much, much more – accounted for the remaining 6%.

It can be helpful to look at federal spending as a share of the overall US economy, which provides a consistent frame of reference over long periods. In fiscal 2016, total federal outlays were 21.5% of Gross Domestic Product (GDP). For most of the past several decades, federal spending has hovered within a few percentage points above or below 20%.

The biggest recent exception came in the wake of the 2008 mortgage crash: In fiscal 2009, a surge in federal relief spending combined with a shrinking economy to push federal outlays to 24.4% of GDP, the highest level since World War II — when federal spending peaked at nearly 43% of GDP.

Social security, Medicare, human services a growing share of spendingMeasured as a share of GDP, the biggest long-term growth in federal spending has come in human services, a broad category that includes various kinds of social insurance, other health programs, education aid and veterans benefits.

From less than 1% of GDP during World War II (when many Depression-era aid programs were either ended or shifted to the war effort), federal spending on human services now amounts to 15.5% of GDP.

It actually was higher – 16.1% – in fiscal 2010, largely due to greater spending on unemployment compensation, food assistance and other forms of aid during the Great Recession. Now, the main growth drivers of human-services spending are Medicaid, Medicare and Social Security.

While spending on human services has grown to represent a greater share of GDP over time, the defense share has become smaller: It was 3.3% in fiscal 2016, versus 4.7% as recently as fiscal 2010. In general, and perhaps not surprisingly, defense spending consumes more of GDP during wartime (well over a third at the height of World War II) and less during peacetime.

The major exception was the Reagan-era military buildup… From a post-Vietnam low of 4.5% of GDP in fiscal 1979, defense spending eventually peaked at 6% of GDP in fiscal 1986.

Besides human services and national defense, the next-biggest category of federal spending is interest on public debt. Excluding interest paid to government trust funds (such as the Social Security and military-retirement trust funds) and various other small government loanprograms, the $240 billion in net interest paid on federal debt in fiscal 2016 represented 1.3% of GDP. [Remember that interest rates are near historic lows today.]

Even though total public debt has continued to grow (it stood at nearly $19.96 trillion in February, hitting the statutory debt limit), the dollar amount of actual interest paid fluctuates with the general interest rate environment. Rates are quite low now, but they were much higher in the 1980s and 1990s; in those decades, net interest payments often approached or exceeded 3% of GDP. END QUOTE

Even President Trump’s Federal Budget Increases Spending

Back in March, President Trump unveiled a controversial new federal budget proposal for fiscal year 2018, which begins on October 1st. The budget was a shocker in that it proposed cutting spending in every federal agency except Defense, Homeland Security and Veterans Affairs.

The new budget would slash Environmental Protection Agency spending by over 31% next year and cut State Department spending by over 28%, all in one fell swoop. It is by far the most conservative, smaller government budget we have seen in my adult lifetime.

Trump proposals for government agency budget changes

Yet as I wrote on March 21, Mr. Trump’s so-called “skinny budget” has no chance of becoming law. I bring it back up today only to point out that even with Trump’s massive government agency cuts (which will never pass), federal spending still increases in FY2018.

As noted above, the CBO and the OMB now agree that federal spending in FY2017 will be apprx. $4.008 trillion. In Trump’s proposed budget, federal spending would reach apprx. $4.094 trillion. And it goes up each year thereafter, soaring to $5.7 trillion by 2027 – even under Trump’s skinny budget.

The sad reality is that our politicians will not take definitive actions to slow the rise in our national debt. Perhaps that’s because half of American households receive direct benefits from government programs like Medicare, Social Security, the Supplemental Nutrition Assistance Program (food stamps), nutrition programs for mothers and children, subsidized housing and unemployment assistance, to name just a few.

That’s another topic for another day. The point is, federal spending is out of control, and our leaders have no intention of stopping or reversing this dangerous trend. What this means is that we are destined for another serious financial crisis at some point. The markets and our creditors will decide when and it won’t be pretty!

Wishing you well,
Gary D. Halbert

Forecasts & Trends E-Letter is published by Halbert Wealth Management, Inc. Gary D. Halbert is the president and CEO of Halbert Wealth Management, Inc. and is the editor of this publication. Information contained herein is taken from sources believed to be reliable but cannot be guaranteed as to its accuracy. Opinions and recommendations herein generally reflect the judgement of Gary D. Halbert (or another named author) and may change at any time without written notice. Market opinions contained herein are intended as general observations and are not intended as specific investment advice. Readers are urged to check with their investment counselors before making any investment decisions. This electronic newsletter does not constitute an offer of sale of any securities. Gary D. Halbert, Halbert Wealth Management, Inc., and its affiliated companies, its officers, directors and/or employees may or may not have investments in markets or programs mentioned herein. Past results are not necessarily indicative of future results. Reprinting for family or friends is allowed with proper credit. However, republishing (written or electronically) in its entirety or through the use of extensive quotes is prohibited without prior written consent.

https://www.advisorperspectives.com/commentaries/2017/07/11/federal-spending-to-top-a-record-4-trillion-in-fy2017?channel=Economic%20Insights

Social Security Will Be Paying Out More Than It Receives In Just Five Years

Tyler Durden's picture

Authored by Mac Slavo via SHTFplan.com,

When social security was first implemented in the 1930’s, America was a very different country. Especially in regards to demographics. The average life expectancy was roughly 18 years younger than it is now, and birth rates were a bit higher than they are now. By the 1950’s, the fertility rate was twice as high as it is in the 21st century.

In other words, for the first few decades, social security seemed very sustainable. Most people would only live long enough to benefit from it for a few years, and there was an abundance of young workers who could pay into the system.

Those days are long gone. As birth rates plummet and people live longer, (which otherwise should be considered a positive development) social security’s future is looking more and more bleak.

No matter how you slice it, it doesn’t seem possible to keep social security funded. In fact, social security is going to start paying out more money than it receives in just a few short years. It may even be insolvent before the baby boomer generation dies off.

According to the Social Security Board of Trustees, the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds will be depleted in 2034.

When this happens, only 77 percent of benefits will be payable. That estimate is no change from last year’s estimate.

In addition, the Disability Insurance trust fund will be depleted in 2028, which is an improvement from last year’s estimate of 2023. Once that fund is depleted, 93 percent of benefits will be paid.

Right now, Social Security continues to take in through revenue more than it pays it through benefits, which is expected to continue until 2022. Once Social Security begins to pay out more than it takes in, it will be forced to liquidate the assets held by the trust funds.

In 2016, Social Security generated $957 billion in income. It only paid out $922 billion including $911 billion in benefits to 61 million beneficiaries.

But the solutions that have been proposed for this problem don’t hold much promise. For instance, we know that simply raising taxes won’t work.

But increasing the payroll tax is not a good long-term solution to fixing Social Security. For example a higher payroll tax would have negative economic effects. In addition, it’s not even clear that raising the payroll tax would even generate enough revenue.

“Some claim that the solution to preserving Social Security is to raise more taxes, but history shows that doesn’t work,” said David Barnes who is the director of policy engagement for Generation Opportunity in a statement to the Washington Free Beacon. “In fact, since Social Security was created, payroll taxes have been raised more than 20 times. Twenty times! Yet, the program is still headed towards insolvency.”

This is one reason why so many Western countries, almost all of which are suffering from declining birth rates, have been so eager to open their borders to more immigrants. They’re trying to bring in as many young workers as they can.

But that’s not going to work either. Forget about the high crime rates, terrorist attacks, and social disintegration that Europe is facing now after bringing in millions of immigrants. Even if those problems didn’t exist, immigration isn’t the solution. The West has had wide open borders for decades, and it hasn’t made a dent in the liabilities faced by social security programs (perhaps these immigrants aren’t paying as many taxes as these governments had hoped).

We could let younger generations opt out of social security to stave off future obligations, but that wouldn’t help fund the current generation of retirees. Social security is already on the path to being underfunded for them, and letting young people opt out would obviously make things worst for current retirees.

There isn’t really any viable solution for paying off the future liabilities of social security, aside from cutting the benefits or increasing the retirement age. Otherwise it’s going to run out of money eventually, which is the same story with private and public pensions. We are all paying for our retirements in one form or another, but few of us living right now are going to fully benefit from it.

http://www.zerohedge.com/news/2017-07-19/social-security-will-be-paying-out-more-it-receives-just-five-years

Story 3: The American People and President Trump Vs. Political Elitist Establishment of The Big Government Democratic and Republican Parties — Videos

Ronald Reagan .. “Government is the problem”

The Bigger the Government…

Government: Is it Ever Big Enough?

How Big Should Government Be? Left vs. Right #1

Big Government Kills Small Businesses

Socialist explains why we need big government and more freebies

 

Why universal basic income is gaining support, critics

July 15, 2017 Updated: July 17, 2017 11:49am

The idea of government giving every person a universal basic income has been gaining traction thanks in part to endorsements from some Silicon Valley celebs. Elon Musk, Mark Zuckerberg, venture capitalist Marc Andreessen and others want to explore the idea.

The idea of government giving every person a universal basic income has been gaining traction thanks in part to endorsements from some Silicon Valley celebs. Elon Musk, Mark Zuckerberg, venture capitalist Marc Andreessen and others want to explore the idea.

The idea of a universal basic income — monthly cash payments from the government to every individual, working or not, with no strings attached — is gaining traction, thanks in part to endorsements from Silicon Valley celebs.

Some see it as a way to compensate for the traditional jobs with benefits that will be wiped out by robotics, artificial intelligence, self-driving vehicles, globalization and the gig economy. Others see it as a way to reduce income inequality or to create a more efficient, less stigmatizing safety net than our current mishmash of welfare benefits.

“I think ultimately we will have to have some kind of universal basic income, I don’t think we are going to have a choice,” Tesla CEO Elon Musk said at the World Government Summit in Dubai in February.

In a commencement speech at Harvard University in May, Facebook CEO Mark Zuckerberg said, “We should explore ideas like universal basic income to give everyone a cushion to try new things.” And in a July 4 blog post,Zuckerberg praised Alaska’s Permanent Fund Dividend, the nearest thing to universal income in this or any country. Since 1982, Alaska has been distributing some of its oil revenue as an annual payment, ranging from about $1,000 to $3,000, to every resident including children.

Facebook co-founder Chris Hughes, venture capitalist Marc Andreessen and Y Combinator president Sam Altman have all said it’s worth exploring. Y Combinator’s nonprofit research lab started a basic income pilot with fewer than 100 people in Oakland last fall with the goal of gathering information to structure a larger research proposal, its director, Elizabeth Rhodes, said.

The concept has been around, with different names and in different countries, for centuries, said Karl Widerquist, co-founder of the Basic Income Earth Network.

It enjoyed a wave of U.S. popularity in the 1910s and ’20s and again in the ’60s and ’70s when it was championed by free-market economist Milton Friedman, Martin Luther King and, for a while, Richard Nixon.

It resurfaced again after the 2008 financial crisis, when soaring unemployment and corporate bailouts focused attention on the “99 percent.” The concept picked up steam in recent years as studies started predicting widespread unemployment because of automation.

Basic income has fans across the political spectrum, but for very different reasons. Libertarian backers would replace all or most welfare programs with a monthly cash payment as a way to prevent poverty, reduce government bureaucracy and let people decide for themselves how to use the money.

Facebook CEO Mark Zuckerberg (right), shown in May receiving an honorary degree from Harvard, also supports the universal income concept. Photo: Paul Marotta, Getty Images

Photo: Paul Marotta, Getty Images

Facebook CEO Mark Zuckerberg (right), shown in May receiving an honorary degree from Harvard, also supports the universal income concept.

By contrast, “those left of center like the idea of using (basic income) as a supplement to the existing safety net,” said Natalie Foster, co-chairwoman of the Economic Security Project, a two-year fund devoted to researching and promoting the idea of unconditional cash.

In a “utopian version,” the money would “sit alongside existing programs” and go to every man, woman and child, Foster said. But if you made it enough to keep people above poverty — $1,000 a month is a popular number — “it starts to add up to a very significant portion of the GDP,” Foster said.

That’s why some proposals would reduce or eliminate payments to children or to adults over 65 if they are getting Social Security and Medicare. Some would limit the benefits going to high-income people, either directly or indirectly by raising their tax.

“In the simple model, everyone in the lower half (of the income distribution) would be a net beneficiary, everyone in the upper half would be net payers,” Widerquist said.

Charles Murray, a libertarian political scientist with the American Enterprise Institute, has proposed a basic income plan that would replace all transfer payments including welfare, food stamps, housing subsidies, the earned income tax credit, Social Security, Medicare and Medicaid. It would also eliminate farm subsidies and “corporate welfare.”

In exchange, each American older than 21 would get a monthly payment totaling $13,000 a year, of which $3,000 would go to health insurance. After $30,000 in earned income, a graduated tax would “reimburse” some of the grant until it dropped to $6,500 at $60,000 in income. However, the grant would never drop below $6,500 to compensate for the loss of Social Security and Medicare.

Murray admitted that many seniors get more than $6,500 worth of benefits a year from those two programs, which is why it would have to be phased in.

“What I’m proposing would actually be cheaper than the current system,” Murray said. It would give adults a “living income” and “liberate people” who are tied to a job or welfare program in a particular city because they can’t risk leaving to pursue a new opportunity.

Tesla CEO Elon Musk favors universal basic income to compensate workers displaced by automation. "I don’t think we are going to have a choice," he said at a February event in Dubai. Photo: KARIM SAHIB, AFP/Getty Images

Photo: KARIM SAHIB, AFP/Getty Images

Tesla CEO Elon Musk favors universal basic income to compensate workers displaced by automation. “I don’t think we are going to have a choice,” he said at a February event in Dubai.

Andy Stern, a senior fellow at the Economic Security Project, has proposed a “left-of-center” plan that would give every adult 18 to 64 a monthly cash payment of $1,000. It would replace welfare programs such as food stamps, the earned income tax credit, unemployment and Supplemental Security Income. But it would keep Social Security, Medicare, Medicaid and Social Security disability.

He figures the plan would cost about $1.75 trillion a year. Ending welfare programs would save about a third of that. Another third could come from ending the tax deduction for mortgage interest and other write-offs. The remaining third could come from new sources such as a tax on carbon emissions or financial transactions.

Stern would not reduce payments to the rich or raise their taxes because that would bring back the problem he is trying to eliminate — determining who is “worthy and unworthy” to receive benefits. But many of the tax increases he envisions “would have a disproportionate effect on higher-income people,” he said.

Some opponents of guaranteed income say it will encourage laziness. Proponents say the current system discourages work by taking away some benefits as income goes up.

Zipcar founder Robin Chase, now a speaker and author, said universal income would encourage and reward important work that “does not get monetized,” such as child care and volunteer work. It would also spur business creation. “I had the luxury of taking risks because I had a husband who had a full-time job with health care. A majority of the population cannot take any risks in pursuing innovation or higher-value, non-remunerative things.”

Some believe the answer to income inequality and automation is not guaranteed income but a guaranteed job. Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities, has said the federal government should provide a job with benefits to anyone who wants one and can’t get one. “A job guarantee could simultaneously lower un- and underemployment while providing critically needed labor in fields ranging from infrastructure to education to child and elder care,” Bernstein, who was an economist in President Barack Obama’s administration, wrote in the American Prospect.

Jason Furman, who chaired Obama’s Council of Economic Advisers, doesn’t like guaranteed jobs or guaranteed income. Furman, now a professor at the Harvard Kennedy School, said universal income suffers from three problems.

“One is that it’s very hard to make the numbers add up. To get to (incomes) like $12,000, you need huge increases in taxes. Two, there are a lot of benefits to targeting. You only get unemployment if you don’t have a job and are looking for a new job. If anything, I might toughen the work search requirement” to receive unemployment.

Finally, he said, “I believe there is no reason that people can’t be employed in the future. We have thousands of years of experience of technological progress not leading” to mass unemployment. He pointed out that technologically advanced countries do not have higher unemployment rates than those that are less advanced.

“We should put more effort into how to create jobs and prepare people for jobs in the future,” he said. Universal basic income “is giving up on work and giving up on people. I’m not prepared to do that.”

Kathleen Pender is a San Francisco Chronicle columnist. 

http://www.sfchronicle.com/aboutsfgate/article/Why-universal-basic-income-is-gaining-support-11290211.php

 

The Pronk Pops Show Podcasts Portfolio

Listen To Pronk Pops Podcast or Download Shows 926-929

Listen To Pronk Pops Podcast or Download Shows 916-925

Listen To Pronk Pops Podcast or Download Shows 906-915

Listen To Pronk Pops Podcast or Download Shows 889-896

Listen To Pronk Pops Podcast or Download Shows 884-888

Listen To Pronk Pops Podcast or Download Shows 878-883

Listen To Pronk Pops Podcast or Download Shows 870-877

Listen To Pronk Pops Podcast or Download Shows 864-869

Listen To Pronk Pops Podcast or Download Shows 857-863

Listen To Pronk Pops Podcast or Download Shows 850-856

Listen To Pronk Pops Podcast or Download Shows 845-849

Listen To Pronk Pops Podcast or Download Shows 840-844

Listen To Pronk Pops Podcast or Download Shows 833-839

Listen To Pronk Pops Podcast or Download Shows 827-832

Listen To Pronk Pops Podcast or Download Shows 821-826

Listen To Pronk Pops Podcast or Download Shows 815-820

Listen To Pronk Pops Podcast or Download Shows 806-814

Listen To Pronk Pops Podcast or Download Shows 800-805

Listen To Pronk Pops Podcast or Download Shows 793-799

Listen To Pronk Pops Podcast or Download Shows 785-792

Listen To Pronk Pops Podcast or Download Shows 777-784

Listen To Pronk Pops Podcast or Download Shows 769-776

Listen To Pronk Pops Podcast or Download Shows 759-768

Listen To Pronk Pops Podcast or Download Shows 751-758

Listen To Pronk Pops Podcast or Download Shows 745-750

Listen To Pronk Pops Podcast or Download Shows 738-744

Listen To Pronk Pops Podcast or Download Shows 732-737

Listen To Pronk Pops Podcast or Download Shows 727-731

Listen To Pronk Pops Podcast or Download Shows 720-726

Listen To Pronk Pops Podcast or DownloadShows 713-719

Listen To Pronk Pops Podcast or DownloadShows 705-712

Listen To Pronk Pops Podcast or Download Shows 695-704

Listen To Pronk Pops Podcast or Download Shows 685-694

Listen To Pronk Pops Podcast or Download Shows 675-684

Listen To Pronk Pops Podcast or Download Shows 668-674

Listen To Pronk Pops Podcast or Download Shows 660-667

Listen To Pronk Pops Podcast or Download Shows 651-659

Listen To Pronk Pops Podcast or Download Shows 644-650

Listen To Pronk Pops Podcast or Download Shows 637-643

Listen To Pronk Pops Podcast or Download Shows 629-636

Listen To Pronk Pops Podcast or Download Shows 617-628

Listen To Pronk Pops Podcast or Download Shows 608-616

Listen To Pronk Pops Podcast or Download Shows 599-607

Listen To Pronk Pops Podcast or Download Shows 590-598

Listen To Pronk Pops Podcast or Download Shows 585- 589

Listen To Pronk Pops Podcast or Download Shows 575-584

Listen To Pronk Pops Podcast or Download Shows 565-574

Listen To Pronk Pops Podcast or Download Shows 556-564

Listen To Pronk Pops Podcast or Download Shows 546-555

Listen To Pronk Pops Podcast or Download Shows 538-545

Listen To Pronk Pops Podcast or Download Shows 532-537

Listen To Pronk Pops Podcast or Download Shows 526-531

Listen To Pronk Pops Podcast or Download Shows 519-525

Listen To Pronk Pops Podcast or Download Shows 510-518

Listen To Pronk Pops Podcast or Download Shows 500-509

Listen To Pronk Pops Podcast or Download Shows 490-499

Listen To Pronk Pops Podcast or Download Shows 480-489

Listen To Pronk Pops Podcast or Download Shows 473-479

Listen To Pronk Pops Podcast or Download Shows 464-472

Listen To Pronk Pops Podcast or Download Shows 455-463

Listen To Pronk Pops Podcast or Download Shows 447-454

Listen To Pronk Pops Podcast or Download Shows 439-446

Listen To Pronk Pops Podcast or Download Shows 431-438

Listen To Pronk Pops Podcast or Download Shows 422-430

Listen To Pronk Pops Podcast or Download Shows 414-421

Listen To Pronk Pops Podcast or Download Shows 408-413

Listen To Pronk Pops Podcast or Download Shows 400-407

Listen To Pronk Pops Podcast or Download Shows 391-399

Listen To Pronk Pops Podcast or Download Shows 383-390

Listen To Pronk Pops Podcast or Download Shows 376-382

Listen To Pronk Pops Podcast or Download Shows 369-375

Listen To Pronk Pops Podcast or Download Shows 360-368

Listen To Pronk Pops Podcast or Download Shows 354-359

Listen To Pronk Pops Podcast or Download Shows 346-353

Listen To Pronk Pops Podcast or Download Shows 338-345

Listen To Pronk Pops Podcast or Download Shows 328-337

Listen To Pronk Pops Podcast or Download Shows 319-327

Listen To Pronk Pops Podcast or Download Shows 307-318

Listen To Pronk Pops Podcast or Download Shows 296-306

Listen To Pronk Pops Podcast or Download Shows 287-295

Listen To Pronk Pops Podcast or Download Shows 277-286

Listen To Pronk Pops Podcast or Download Shows 264-276

Listen To Pronk Pops Podcast or Download Shows 250-263

Listen To Pronk Pops Podcast or Download Shows 236-249

Listen To Pronk Pops Podcast or Download Shows 222-235

Listen To Pronk Pops Podcast or Download Shows 211-221

Listen To Pronk Pops Podcast or Download Shows 202-210

Listen To Pronk Pops Podcast or Download Shows 194-201

Listen To Pronk Pops Podcast or Download Shows 184-193

Listen To Pronk Pops Podcast or Download Shows 174-183

Listen To Pronk Pops Podcast or Download Shows 165-173

Listen To Pronk Pops Podcast or Download Shows 158-164

Listen To Pronk Pops Podcast or Download Shows151-157

Listen To Pronk Pops Podcast or Download Shows 143-150

Listen To Pronk Pops Podcast or Download Shows 135-142

Listen To Pronk Pops Podcast or Download Shows 131-134

Listen To Pronk Pops Podcast or Download Shows 124-130

Listen To Pronk Pops Podcast or Download Shows 121-123

Listen To Pronk Pops Podcast or Download Shows 118-120

Listen To Pronk Pops Podcast or Download Shows 113 -117

Listen To Pronk Pops Podcast or Download Show 112

Listen To Pronk Pops Podcast or Download Shows 108-111

Listen To Pronk Pops Podcast or Download Shows 106-108

Listen To Pronk Pops Podcast or Download Shows 104-105

Listen To Pronk Pops Podcast or Download Shows 101-103

Listen To Pronk Pops Podcast or Download Shows 98-100

Listen To Pronk Pops Podcast or Download Shows 94-97

Listen To Pronk Pops Podcast or Download Show 93

Listen To Pronk Pops Podcast or Download Show 92

Listen To Pronk Pops Podcast or Download Show 91

Listen To Pronk Pops Podcast or Download Shows 88-90

Listen To Pronk Pops Podcast or Download Shows 84-87

Listen To Pronk Pops Podcast or Download Shows 79-83

Listen To Pronk Pops Podcast or Download Shows 74-78

Listen To Pronk Pops Podcast or Download Shows 71-73

Listen To Pronk Pops Podcast or Download Shows 68-70

Listen To Pronk Pops Podcast or Download Shows 65-67

Listen To Pronk Pops Podcast or Download Shows 62-64

Listen To Pronk Pops Podcast or Download Shows 58-61

Listen To Pronk Pops Podcast or Download Shows 55-57

Listen To Pronk Pops Podcast or Download Shows 52-54

Listen To Pronk Pops Podcast or Download Shows 49-51

Listen To Pronk Pops Podcast or Download Shows 45-48

Listen To Pronk Pops Podcast or Download Shows 41-44

Listen To Pronk Pops Podcast or Download Shows 38-40

Listen To Pronk Pops Podcast or Download Shows 34-37

Listen To Pronk Pops Podcast or Download Shows 30-33

Listen To Pronk Pops Podcast or Download Shows 27-29

Listen To Pronk Pops Podcast or Download Shows 17-26

Listen To Pronk Pops Podcast or Download Shows 16-22

Listen To Pronk Pops Podcast or Download Shows 10-15

Listen To Pronk Pops Podcast or Download Shows 1-9

 

Read Full Post | Make a Comment ( None so far )

The Pronk Pops Show 881, April 26, 2017, Story 1: District Court Judge in 9th Circuit Commits Judicial Fraud Makes Up A Violation of Law — Trump Executive Order Requires Existing Federal Laws Passed By Congress Be Enforced — Videos — Story 2: Senator Ted Cruz Great Idea For Paying For The Wall — Videos — Story 3: Trump’s Latest Tax Proposal — Good But Not Great — Missed Opportunity To Transition From An Income Tax Based System To A Broad Based Consumption Tax — FairTax or Fair Tax Less — Forget The Republican Establishment Border Adjustment Tax — Videos

Posted on April 26, 2017. Filed under: American History, Banking System, Blogroll, Breaking News, Budgetary Policy, Business, College, Communications, Congress, Corruption, Countries, Crime, Culture, Donald J. Trump, Donald Trump, Economics, Education, Elections, Foreign Policy, Free Trade, Government, Health Care Insurance, History, House of Representatives, Illegal Immigration, Illegal Immigration, Immigration, Law, Legal Immigration, Mexico, News, North Korea, Philosophy, Photos, Politics, Polls, President Trump, Radio, Raymond Thomas Pronk, Regulation, Rule of Law, Senate, Social Networking, Tax Policy, Taxation, Taxes, Ted Cruz, United States of America, United States Supreme Court, Videos, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

Project_1

The Pronk Pops Show Podcasts

Pronk Pops Show 881: April 26, 2017

Pronk Pops Show 880: April 25, 2017

Pronk Pops Show 879: April 24, 2017

Pronk Pops Show 878: April 21, 2017

Pronk Pops Show 877: April 20, 2017

Pronk Pops Show 876: April 19, 2017

Pronk Pops Show 875: April 18, 2017

Pronk Pops Show 874: April 17, 2017

Pronk Pops Show 873: April 13, 2017

Pronk Pops Show 872: April 12, 2017

Pronk Pops Show 871: April 11, 2017

Pronk Pops Show 870: April 10, 2017

Pronk Pops Show 869: April 7, 2017

Pronk Pops Show 868: April 6, 2017

Pronk Pops Show 867: April 5, 2017

Pronk Pops Show 866: April 3, 2017

Pronk Pops Show 865: March 31, 2017

Pronk Pops Show 864: March 30, 2017

Pronk Pops Show 863: March 29, 2017

Pronk Pops Show 862: March 28, 2017

Pronk Pops Show 861: March 27, 2017

Pronk Pops Show 860: March 24, 2017

Pronk Pops Show 859: March 23, 2017

Pronk Pops Show 858: March 22, 2017

Pronk Pops Show 857: March 21, 2017

Pronk Pops Show 856: March 20, 2017

Pronk Pops Show 855: March 10, 2017

Pronk Pops Show 854: March 9, 2017

Pronk Pops Show 853: March 8, 2017

Pronk Pops Show 852: March 6, 2017

Pronk Pops Show 851: March 3, 2017

Pronk Pops Show 850: March 2, 2017

Pronk Pops Show 849: March 1, 2017

Pronk Pops Show 848: February 28, 2017

Pronk Pops Show 847: February 27, 2017

Pronk Pops Show 846: February 24, 2017

Pronk Pops Show 845: February 23, 2017

Pronk Pops Show 844: February 22, 2017

Pronk Pops Show 843: February 21, 2017

Pronk Pops Show 842: February 20, 2017

Pronk Pops Show 841: February 17, 2017

Pronk Pops Show 840: February 16, 2017

Pronk Pops Show 839: February 15, 2017

Pronk Pops Show 838: February 14, 2017

Pronk Pops Show 837: February 13, 2017

Pronk Pops Show 836: February 10, 2017

Pronk Pops Show 835: February 9, 2017

Pronk Pops Show 834: February 8, 2017

Pronk Pops Show 833: February 7, 2017

Pronk Pops Show 832: February 6, 2017

Pronk Pops Show 831: February 3, 2017

Pronk Pops Show 830: February 2, 2017

Pronk Pops Show 829: February 1, 2017

Pronk Pops Show 828: January 31, 2017

Pronk Pops Show 827: January 30, 2017

Pronk Pops Show 826: January 27, 2017

Pronk Pops Show 825: January 26, 2017

Pronk Pops Show 824: January 25, 2017

Pronk Pops Show 823: January 24, 2017

Pronk Pops Show 822: January 23, 2017

Pronk Pops Show 821: January 20, 2017

Pronk Pops Show 820: January 19, 2017

Pronk Pops Show 819: January 18, 2017

Pronk Pops Show 818: January 17, 2017

Pronk Pops Show 817: January 13, 2017

Pronk Pops Show 816: January 12, 2017

Pronk Pops Show 815: January 11, 2017

Pronk Pops Show 814: January 10, 2017

Pronk Pops Show 813: January 9, 2017

Image result for list of santuary citiesImage result for branco cartoons trump paying for the wallImage result for branco cartoons trump tax reform blueprint april 26, 2017

 

 

 

Story 1: District Court Judge in 9th Circuit Commits Judicial Fraud Makes Up A Violation of Law — Trump Executive Order Requires Existing Federal Laws Passed By Congress Be Enforced — Videos — 

Image result for list of santuary cities

Image result for Mexico Southern Border FenceImage result for list of santuary cities

Federal judge rules Trump cannot punish sanctuary cities by withholding funds

Sanctuary Cities, Fed Money, and 9th Circuit Judge Block!

CA Fed Judge: Pres Trump Can’t Punish Sanctuary Cities By Withholding Funds – Tucker Carlson

San Francisco sues over Trump’s executive order targeting sanctuary cities

Judge Blocks Attempts To Withhold Funding For Sanctuary Cities

9th Circuit Court “Going Bananas”

A Ruling About Nothing

by ANDREW C. MCCARTHY April 26, 2017 1:45 PM

A federal judge suspends Trump’s unenforced ban on funding for sanctuary cities.

A federal judge suspends Trump’s unenforced ban on funding for sanctuary cities. A showboating federal judge in San Francisco has issued an injunction against President Trump’s executive order cutting off federal funds from so-called sanctuary cities. The ruling distorts the E.O. beyond recognition, accusing the president of usurping legislative authority despite the order’s express adherence to “existing law.” Moreover, undeterred by the inconvenience that the order has not been enforced, the activist court — better to say, the fantasist court — dreams up harms that might befall San Francisco and Santa Clara, the sanctuary jurisdictions behind the suit, if it were enforced. The court thus flouts the standing doctrine, which limits judicial authority to actual controversies involving concrete, non-speculative harms.

Although he vents for 49 pages, Judge William H. Orrick III gives away the game early, on page 4. There, the Obama appointee explains that his ruling is about . . . nothing. That is, Orrick acknowledges that he is adopting the construction of the E.O. urged by the Trump Justice Department, which maintains that the order does nothing more than call for the enforcement of already existing law. Although that construction is completely consistent with the E.O. as written, Judge Orrick implausibly describes it as “implausible.”

That is, Orrick acknowledges that he is adopting the construction of the E.O. urged by the Trump Justice Department, which maintains that the order does nothing more than call for the enforcement of already existing law. Although that construction is completely consistent with the E.O. as written, Judge Orrick implausibly describes it as “implausible.”

Since Orrick ultimately agrees with the Trump Justice Department, and since no enforcement action has been taken based on the E.O., why not just dismiss the case? Why the judicial theatrics?

There appear to be two reasons.

The first is Orrick’s patent desire to embarrass the White House, which rolled out the E.O. with great fanfare. The court wants it understood that Trump is a pretender: For all the hullaballoo, the E.O. effectively did nothing. Indeed, Orrick rationalizes his repeated misreadings of what the order actually says by feigning disbelief that what it says could possibly be what it means. Were that the case, he suggests, there would have been no reason to issue the order in the first place.

Thus, taking a page from the activist left-wing judges who invalidated Trump’s “travel ban” orders, Orrick harps on stump speeches by Trump and other administration officials. One wonders how well Barack “If you like your plan, you can keep your plan” Obama would have fared under the judiciary’s new Trump Doctrine: The extravagant political rhetoric by which the incumbent president customarily sells his policies relieves a court of the obligation to grapple with the inevitably more modest legal text of the directives that follow.

Of course, the peer branches of government are supposed to presume each other’s good faith in the absence of a patent violation of the law. But let’s put aside the unseemliness of Orrick’s barely concealed contempt for a moment, because he is also wrong. The proper purpose of an executive order is to direct the operations of the executive branch within the proper bounds of the law. There is, therefore, nothing untoward about an E.O. that directs the president’s subordinates to take enforcement action within the confines of congressional statutes.

In fact, it is welcome.

It is the president’s burden to set federal law-enforcement priorities. After years of Obama’s lax enforcement of immigration law and apathy regarding sanctuary jurisdictions, an E.O. openly manifesting an intent to execute the laws vigorously can have a salutary effect. And indeed, indications are that the cumulative effect of Trump’s more zealous approach to enforcement, of which the sanctuary-city E.O. is just one component, has been a significant reduction in the number of aliens seeking to enter the U.S. illegally.

In any event, eight years of Obama’s phone and pen have made it easy to forget that the president is not supposed to make law, and thus that we should celebrate, not condemn, an E.O. that does not break new legal ground. Orrick, by contrast, proceeds from the flawed premise that if a president is issuing an E.O., it simply must be his purpose to usurp congressional authority. Then he censures Trump for a purported usurpation that is nothing more than a figment of his own very active imagination.

Orrick’s second reason for issuing his Ruling About Nothing is to rationalize what is essentially an advisory opinion. It holds — I know you’ll be shocked to hear this — that if Trump ever did try to cut off funds from sanctuary cities, it would be an epic violation of the Constitution. Given that courts are supposed to refrain from issuing advisory opinions, the Constitution is actually more aggrieved by Orrick than by Trump. * * *

In a nutshell, the court claims that the E.O. is presidential legislation, an unconstitutional violation of the separation of powers. Orrick insists that the E.O. directs the attorney general and the secretary of homeland security to cut off any federal funds that would otherwise go to states and municipalities if they “willfully refuse to comply” with a federal law (Section 1373 of Title 8) that calls for state and local cooperation in enforcing immigration law.

According to Judge Orrick, Trump’s E.O. is heedless of whether Congress has approved any terminations of state funding from federal programs it has enacted. In one of the opinion’s most disingenuous passages, Orrick asserts that the E.O. “directs the Attorney General and the [Homeland Security] Secretary to ensure that ‘sanctuary jurisdictions’ are ‘not eligible to receive’ federal grants.” (Emphasis in original.)

But this is just not true; Orrick has omitted key context from the relevant passage, which actually states that “the Attorney General and the Secretary, in their discretion and to the extent consistent with law, shall ensure that jurisdictions that willfully refuse to comply with 8 U.S.C. 1373 (sanctuary jurisdictions) are not eligible to receive Federal grants.” (Emphasis added.) In plain English, the president has expressly restricted his subordinates to the limits that Congress has enacted. Under Trump’s order, there can be no suspension or denial of funding from a federal program unless congressional statutes authorize it. The president is not engaged in an Obama-

Of course, the peer branches of government are supposed to presume each other’s good faith in the absence of a patent violation of the law. But let’s put aside the unseemliness of Orrick’s barely concealed contempt for a moment, because he is also wrong. The proper purpose of an executive order is to direct the operations of the executive branch within the proper bounds of the law. There is, therefore, nothing untoward about an E.O. that directs the president’s subordinates to take enforcement action within the confines of congressional statutes. In fact, it is welcome.

It is the president’s burden to set federal law-enforcement priorities. After years of Obama’s lax enforcement of immigration law and apathy regarding sanctuary jurisdictions, an E.O. openly manifesting an intent to execute the laws vigorously can have a salutary effect. And indeed, indications are that the cumulative effect of Trump’s more zealous approach to enforcement, of which the sanctuary-city E.O. is just one component, has been a significant reduction in the number of aliens seeking to enter the U.S. illegally. In any event, eight years of Obama’s phone and pen have made it easy to forget that the president is not supposed to make law, and thus that we should celebrate, not condemn, an E.O. that does not break new legal ground. Orrick, by contrast, proceeds from the flawed premise that if a president is issuing an E.O., it simply must be his purpose to usurp congressional authority. Then he censures Trump for a purported usurpation that is nothing more than a figment of his own very active imagination.

Orrick’s second reason for issuing his Ruling About Nothing is to rationalize what is essentially an advisory opinion. It holds — I know you’ll be shocked to hear this — that if Trump ever did try to cut off funds from sanctuary cities, it would be an epic violation of the Constitution. Given that courts are supposed to refrain from issuing advisory opinions, the Constitution is actually more aggrieved by Orrick than by Trump. * * *

In a nutshell, the court claims that the E.O. is presidential legislation, an unconstitutional violation of the separation of powers. Orrick insists that the E.O. directs the attorney general and the secretary of homeland security to cut off any federal funds that would otherwise go to states and municipalities if they “willfully refuse to comply” with a federal law (Section 1373 of Title 8) that calls for state and local cooperation in enforcing immigration law. According to Judge Orrick, Trump’s E.O. is heedless of whether Congress has approved any terminations of state funding from federal programs it has enacted. In one of the opinion’s most disingenuous passages, Orrick asserts that the E.O. “directs the Attorney General and the [Homeland Security] Secretary to ensure that ‘sanctuary jurisdictions’ are ‘not eligible to receive’ federal grants.” (Emphasis in original.)

But this is just not true; Orrick has omitted key context from the relevant passage, which actually states that “the Attorney General and the Secretary, in their discretion and to the extent consistent with law, shall ensure that jurisdictions that willfully refuse to comply with 8 U.S.C. 1373 (sanctuary jurisdictions) are not eligible to receive Federal grants.” (Emphasis added.)

In plain English, the president has expressly restricted his subordinates to the limits that Congress has enacted. Under Trump’s order, there can be no suspension or denial of funding from a federal program unless congressional statutes authorize it. The president is not engaged in an Obama-esque rewrite of federal law; he explicitly ordered his subordinates to follow federal law.

It is not enough to say Orrick mulishly ignores the clear text of the executive order. Again and again, Justice Department lawyers emphasized to the court that Trump’s order explicitly reaffirmed existing law. Orrick refused to listen because, well, what fun would that be? If the president is simply directing that the law be followed, there is no basis for a progressive judge to accuse him of violating the law.

Were he to concede that, how would Orrick then win this month’s Social Justice Warrior in a Robe Award for Telling Donald Trump What For? Orrick can’t confine himself to merely inventing a violation, either, because there is no basis for a lawsuit unless a violation results in real damages. So, the judge also has to fabricate some harm. This takes some doing since, in addition to merely directing that the law be enforced, the Trump administration has not actually taken any action against any sanctuary jurisdiction to this point.

No problem: Orrick theorizes that because San Francisco and Santa Clara receive lots of government funding, Trump’s order afflicts them with “pre-enforcement” anxiety. They quake in fear that their safety-net and services budgets will be slashed. Sanctuary cities? Maybe we should call them snowflake cities. As noted above, there is a transparent agenda behind Orrick’s sleight of hand. The judge is keen to warn the president that, if ever his administration were to deny funds to sanctuary cities, it would violate the Constitution. It is in connection with this advisory opinion that the judge makes the only point worthy of consideration — albeit not in the case before him. Here, it is useful to recall the Supreme Court’s first Obamacare ruling.

Sanctuary cities? Maybe we should call them snowflake cities.

As noted above, there is a transparent agenda behind Orrick’s sleight of hand. The judge is keen to warn the president that, if ever his administration were to deny funds to sanctuary cities, it would violate the Constitution. It is in connection with this advisory opinion that the judge makes the only point worthy of consideration — albeit not in the case before him. Here, it is useful to recall the Supreme Court’s first Obamacare ruling.

Sanctuary cities? Maybe we should call them snowflake cities. As noted above, there is a transparent agenda behind Orrick’s sleight of hand. The judge is keen to warn the president that, if ever his administration were to deny funds to sanctuary cities, it would violate the Constitution. It is in connection with this advisory opinion that the judge makes the only point worthy of consideration — albeit not in the case before him. Here, it is useful to recall the Supreme Court’s first Obamacare ruling.

As noted above, there is a transparent agenda behind Orrick’s sleight of hand. The judge is keen to warn the president that, if ever his administration were to deny funds to sanctuary cities, it would violate the Constitution. It is in connection with this advisory opinion that the judge makes the only point worthy of consideration — albeit not in the case before him. Here, it is useful to recall the Supreme Court’s first Obamacare ruling.

While conservatives inveighed against Chief Justice Roberts’s upholding of the individual mandate, the decision had a silver lining: The majority invalidated Obamacare’s Medicaid mandate, which required the states, as a condition of qualifying for federal Medicaid funding, to enforce the federal government’s generous new Medicaid qualifications. In our system, the states are sovereign — the federal government may not dictate to them in areas of traditional state regulation, nor may it conscript them to enforce federal law. The Supremes therefore explained that state agreements to accept federal funding in return for adopting federal standards (e.g., to accept highway funding in exchange for adopting the federally prescribed 55-mph speed limit) are like contracts. The state must agree to the federal government’s terms. Once such an agreement is reached, the feds may not unilaterally make material changes in the terms, nor may they use their superior bargaining position to extort a state into acceding to onerous new terms in order to get the federal money on which it has come to depend. Whether a particular case involves such an extortion, as opposed to a permissible nudge, depends on the facts. If the feds are too heavy-handed, they run the risk of violating the Tenth Amendment’s federalist division of powers.

Who knew federal judges in ur-statist San Francisco had become such federalists? Orrick contends that if Trump were to cut off funds from sanctuary cities for failure to assist federal immigration-enforcement officials, it would offend the Tenth Amendment. This is highly unlikely. First, let’s remember — though Orrick studiously forgets — that Trump’s order endorses only such stripping of funds as Congress has already approved. Thus, sanctuary jurisdictions would be ill-suited to claim that they’d been sandbagged.

Second, the money likely to be at issue would surely be nothing close to Medicaid funding. Finally, Trump would not be unilaterally rewriting an existing federal–state contract; he’d be calling for the states to follow federal laws that (a) were on the books when the states started taking federal money and (b) pertain to immigration, a legal realm in which the courts have held the federal government is supreme and the states subordinate. Still, all that said, whether any Trump-administration effort to cut off funding would run afoul of the Tenth Amendment would depend on such considerations as how much funding was actually cut; whether Congress had authorized the cut in designing the funding program; whether the funding was tightly related or unrelated to immigration enforcement; and how big a burden it would be for states to comply with federal demands. Those matters will be impossible to evaluate unless and until the administration actually directs a slashing of funds to a sanctuary jurisdiction. If that happens, there will almost certainly be no legal infirmity as long as Trump’s E.O. means what it says — namely, that any funding cuts must be consistent with existing federal law. But it hasn’t happened. And as long as it hasn’t happened, there is no basis for a court to involve itself, much less issue an anticipatory ruling. Such niceties matter only if you’re practicing law, though. Judge Orrick is practicing politics.

Thus, taking a page from the activist left-wing judges who invalidated Trump’s “travel ban” orders, Orrick harps on stump speeches by Trump and other administration officials. One wonders how well Barack “If you like your plan, you can keep your plan” Obama would have fared under the judiciary’s new Trump Doctrine: The extravagant political rhetoric by which the incumbent president customarily sells his policies relieves a court of the obligation to grapple with the inevitably more modest legal text of the directives that follow.

Here, it is useful to recall the Supreme Court’s first Obamacare ruling. While conservatives inveighed against Chief Justice Roberts’s upholding of the individual mandate, the decision had a silver lining: The majority invalidated Obamacare’s Medicaid mandate, which required the states, as a condition of qualifying for federal Medicaid funding, to enforce the federal government’s generous new Medicaid qualifications.

 

In our system, the states are sovereign — the federal government may not dictate to them in areas of traditional state regulation, nor may it conscript them to enforce federal law. The Supremes therefore explained that state agreements to accept federal funding in return for adopting federal standards (e.g., to accept highway funding in exchange for adopting the federally prescribed 55-mph speed limit) are like contracts. The state must agree to the federal government’s terms. Once such an agreement is reached, the feds may not unilaterally make material changes in the terms, nor may they use their superior bargaining position to extort a state into acceding to onerous new terms in order to get the federal money on which it has come to depend. Whether a particular case involves such an extortion, as opposed to a permissible nudge, depends on the facts. If the feds are too heavy-handed, they run the risk of violating the Tenth Amendment’s federalist division of powers.

Who knew federal judges in ur-statist San Francisco had become such federalists?

Orrick contends that if Trump were to cut off funds from sanctuary cities for failure to assist federal immigration-enforcement officials, it would offend the Tenth Amendment. This is highly unlikely. First, let’s remember — though Orrick studiously forgets — that Trump’s order endorses only such stripping of funds as Congress has already approved. Thus, sanctuary jurisdictions would be ill-suited to claim that they’d been sandbagged. Second, the money likely to be at issue would surely be nothing close to Medicaid funding. Finally, Trump would not be unilaterally rewriting an existing federal–state contract; he’d be calling for the states to follow federal laws that (a) were on the books when the states started taking federal money and (b) pertain to immigration, a legal realm in which the courts have held the federal government is supreme and the states subordinate.

Still, all that said, whether any Trump-administration effort to cut off funding would run afoul of the Tenth Amendment would depend on such considerations as how much funding was actually cut; whether Congress had authorized the cut in designing the funding program; whether the funding was tightly related or unrelated to immigration enforcement; and how big a burden it would be for states to comply with federal demands. Those matters will be impossible to evaluate unless and until the administration actually directs a slashing of funds to a sanctuary jurisdiction.

If that happens, there will almost certainly be no legal infirmity as long as Trump’s E.O. means what it says — namely, that any funding cuts must be consistent with existing federal law. But it hasn’t happened. And as long as it hasn’t happened, there is no basis for a court to involve itself, much less issue an anticipatory ruling.

Such niceties matter only if you’re practicing law, though. Judge Orrick is practicing politics.

 http://www.nationalreview.com/article/447058/trump-administration-sanctuary-city-executive-order-activist-liberal-judge-william-h-orrick

Story 2: Senator Ted Cruz Great Idea For Paying For The Wall — Videos —

Image result for senator cruz paying for wall with drug cartel money assets el chapoImage result for senator cruz paying for wall with drug cartel money assetsImage result for senator cruz paying for wall with drug cartel money assets el chapoImage result for senator cruz paying for wall with drug cartel money assetsImage result for senator cruz paying for wall with drug cartel money assets el chapoImage result for senator cruz paying for wall with drug cartel money assets el chapoImage result for United states / Mexico Southern Border Fence barrier or wallImage result for map of miles of United states / Mexico Southern Border Fence barrier or wallImage result for Mexico Southern Border FenceImage result for Mexico Southern Border FenceImage result for Mexico Southern Border FenceImage result for United states / Mexico Southern Border Fence barrier or wall

Is a wall an expensive, ineffective solution to border security?

How we can build Trump’s border wall

Is Trump’s Wall Possible?

Trump Maintains Mexico Will Pay for Border Wall

Donald Trump’s ‘Simple’ Response to How He Will Get Mexico To Pay for Wall

BREAKING: Trump’s ENTIRE Wall Just Got Paid For By ONE Person & You Won’t Believe Who!

Senator Ted Cruz Has a Great Plan to Pay for the Wall! Watch!

BREAKING Ted Cruz Teams With Trump, Figures Out PERFECT Way To Pay For Border Wall… – News

Inside the Homes of the Biggest Drug Kingpins

How El Chapo Became World’s Biggest Drug Lord

10 Massive TRUMP Walls That Already Exist

Sessions: Fed To Cut “Sanctuary Cities” Funding- Full Q & A

Mexico–United States barrier

From Wikipedia, the free encyclopedia

Border fence near El Paso, Texas

Border fence between San Diego‘s border patrol offices in California (left) and Tijuana, Mexico (right)

The Mexico–United States barrier is a series of walls and fences along the Mexico–United States border aimed at preventingillegal crossings from Mexico into the United States and vice versa.[1] The barrier is not one continuous structure, but a grouping of relatively short physical walls, secured in between with a “virtual fence” which includes a system of sensors and cameras monitored by the United States Border Patrol.[2] As of January 2009, U.S. Customs and Border Protection reported that it had more than 580 miles (930 km) of barriers in place.[3]The total length of the continental border is 1,989 miles (3,201 km).

Background

Two men scale the border fence into Mexico near Douglas, Arizona, in 2009

Two men scale the border fence into Mexico near Douglas, Arizona, in 2009

The barriers were built from 1994 as part of three larger “Operations” to taper transportation of illegal drugs manufactured in Latin America and immigration: Operation Gatekeeper in California, Operation Hold-the-Line[4] in Texas, and Operation Safeguard[5] in Arizona.

96.6 per cent of apprehensions by the Border Patrol in 2010 occurred at the southwest border.[6] The number of Border Patrol apprehensions declined 61% from 1,189,000 in 2005 to 723,840 in 2008 to 463,000 in 2010. The decrease in apprehensions may be due to a number of factors including changes in U.S. economic conditions and border enforcement efforts. Border apprehensions in 2010 were at their lowest level since 1972.[6] In March 2017 there were 17,000 apprehen