• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Democracy Chronicles

Towards better democracy everywhere.

  • AMERICAN DEMOCRACY
  • WORLD DEMOCRACY
  • POLITICAL ART
  • more
    • election technology
    • money politics
    • political dissidents
    • THIRD PARTY
      • third party central
      • green party
      • justice party
      • libertarian party
    • voting methods
  • DC INFO
    • author central
    • about
    • advertise with DC
    • contact
    • privacy policy
You are here: Home / DC Authors / Is Trump’s Tax Bill Just Corporate 3 Card Monte?

Is Trump’s Tax Bill Just Corporate 3 Card Monte?

January 11, 2018 by Zayid Blackmoor Leave a Comment

FacebookLinkedInPin2TweetShares2
Trump’s Tax Bill
link

I needed a moment to wrap my head around (Not very Presidential) Trump’s GOP approved Tax Bill. First, I had to get over the way GOP Senate members scrambled, like roaches in the dark to pass their version of the bill. I thought that this must be how Americans felt when a small group of Senators met around this time in 1913, to pass the Federal Reserve Act.

Next, was the way GOP Members touted this Bill as ‘Tax Relief for The Middle Class’ in general, but it specifically brings Permanent Tax Relief to Corporations. President Obama tried to reduce the Corporate Tax Rate down to 28%, but could not get approval. Trump, has somehow gotten approval for 21%. In true Trump fashion, GOP Members of Congress gathered with the ‘Dictator In Chief’ on the White House’s South Lawn, to take a victory lap & ‘Kiss the Ring’. However, Everyone is mum about the $500B- $1.5T this Bill will cost over 10 years.

Trump’s Tax Bill
Data from Piketty, Saez and Zucman – link

Speaker Paul Ryan is slow to tell us how We will pay for this Bill, but is quick to explain why it is necessary for Corporations to have a Permanent Tax Cut. Republicans in general cite ‘Corporate Forecasting’ as the main reason- explaining how Corporate Entities need 10 Years advanced notice to speculate Future Earnings.

My question to GOP Congress Members is: What about American Citizens? Why are Corporations given preferential treatment over People? The notion of “Trickle Down Economics” is laughable, especially when several Corporate CEOs admitted They would spend the recouped funds on Corporate Buybacks & Executive Salaries. Even Bill supporters, like Sen. Marco Rubio doubt Corporate seeding will reap meaningful gains for employees.

Recent Employee Bonuses offered as a Corporate ‘Show of Good Faith’, have already fallen flat. When you consider that a (Corporate) Employee Bonus Package carries a tax deduction; If you’re like me, you may ask:

  • Why are these Companies (really) rewarding Employees now?
  • Many of these Corporations have held surpluses for years. Knowing how this will spur Economic Growth, why did They wait until This Year to give back?
  • Did Corporate America purposely stifle Economic Growth during the Obama Administration?

Donnie “2 Scoops” is quick to take credit for the success of the economy, but The Truth is, The Obama Administration’s Final Budget Year ended in Oct. 2017. The Trump Administration doesn’t have a Budget yet. How can he take credit for results, when He doesn’t have a System in place?

I guess he took a cue from Rudy Guiliani, when he took credit for his predecessor, Mayor David Dinkins’ “Safe Streets, Safe City” Program. This Program started a trend of lower Crime Rates in New York City, that continue to this Day. It appears that Trump wants to “Make America Great Again” the Old Fashioned Way – by taking credit for Black Ingenuity. Anyway, I digress…

My argument for Republican Members of Congress is: If it makes sense to grant Corporations 10 Years to forecast earnings, why not offer American Citizens the same leeway? I’m sure that there are families in every State that would benefit from having the ability to plan ahead for Children, Mortgage payments, College tuitions, Retirement, & ElderCare.

Why are Corporate Rates permanent? Why didn’t Republicans at the very least, present a 10 Year Plan that gives both Taxpayers & Corporations time to forecast their respective budgets? We have been fed a lot of rhetoric over the years, about why Corporate Entities should be considered Individuals. That is a two way street.

Corporate ‘Individuality’ has led to a flip flop in the distribution of Taxes over the decades. The American Citizen is being robbed of Their Assets & Resources, while Executive Salaries & Dividends rise. This new Tax Bill amplifies Corporate America (a Multinational Body)’s looting of the Rights, Privileges, & Dreams of Everyday People.

The short-term gains that ‘Average Americans’ receive on the front end of the Bill, are overshadowed by the losses expected on the back end; by way of (gradual) limitations on State, Property, & Individual deductions. Elimination of ACA’s Individual Mandate will most likely lead to fewer enrollments & increased premiums.

I know we’re already in a 2018 State Of Mind, but I can’t help but feel that This is what 1928 felt like.

FacebookLinkedInPin2TweetShares2

Filed Under: DC Authors Tagged With: American Corruption, Money Politics

Some highlighted Democracy Chronicles topics

Africa American Corruption American Local Elections American State Elections Asia Capitalism and Big Business Celebrity Politics China Democracy Charity Democracy Protests Democrats Dictatorships Education Election History Election Methods Election Security Election Transparency Europe Internet and Democracy Journalism and Free Speech Middle East Minority Voting Rights Money Politics New York City and State Elections Political Artwork Political Dissidents Political Lobbying Redistricting Republicans Russia Socialism and Labor Social Media and Democracy South America Spying and Privacy Supreme Court Third Party Voter Access Voter ID Voter Registration Voter Suppression Voter Turnout Voting Technology Women Voting Rights Worldwide Worldwide Corruption

About Zayid Blackmoor

Zayid Blackmoor writes for Democracy Chronicles from his home in New York City. Check out his Tumblr page 'Militant In Remission'. Also, take a look at the rest of our international team of authors as well. Together, they help cover free and fair elections on every continent with a focus on election reform in the United States.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

democracy chronicles newsletter

democracy around the web

  • CPJ files declaration in support of detained journalist Mario Guevara 
    Source: Committee to Protect Journalists Published on: 4 months ago
  • “Musk must face lawsuit brought by voters he convinced to sign petition in $1 million-a-day election giveaway, judge says”
    Source: Election Law Blog Published on: 4 months ago
  • “Appeals court throws out massive civil fraud penalty against President Donald Trump”
    Source: Election Law Blog Published on: 4 months ago
  • “Adams Adviser Suspended From Campaign After Giving Cash to Reporter”
    Source: Election Law Blog Published on: 4 months ago
  • “Obama applauds Newsom’s California redistricting plan as ‘responsible’ as Texas GOP pushes new maps”
    Source: Election Law Blog Published on: 4 months ago