Some of the most desperate uses of "Pay Day Loans" are senior citizens on fixed income. The goal of Republicans for decades has been to break the back of the "so called entitlements." I don't know an American that doesn't pay into the Social Security/Medicare programs, but, somehow they are called entitlements.
October 18, 2017
By Richard Kogan
As the Senate (click here) continues debating a budget plan that paves the way for a $1.5 trillion tax cut over ten years, the pay-as-you-go (PAYGO) law remains on the books, with potentially big implications for key budget programs. Under PAYGO, which policymakers first enacted in 1990 and, after it expired, restored in 2010, the President and Congress must offset a tax cut or entitlement expansion with a compensating tax increase or entitlement cut. A failure to do so triggers automatic spending cuts.
Under the law, were policymakers to enact a $1.5 trillion tax cut this year, as the Republican majority hopes, it would trigger automatic spending cuts to Medicare and a host of other programs by no later than January 15. While policymakers will likely waive the PAYGO requirement and prevent such automatic cuts from taking effect, PAYGO is a timely reminder that tax cuts aren’t free....
It promotes corruption. Every one of these companies could have increased their payrolls and pay to their employees before the tax cut. They are Wall Street companies and have been experiencing record profits. When the accountants to the CEOs worked through the immediate tax cuts they didn't know what to do with their bankrolls, so they wanted to appear to be the way forward for the USA economy. The PTT was their best friend, even with their enormous profits already on their books.
January 16, 2018
One hundred sixty-four companies (click here) have gone on record stating they gave bonuses and pay raises to employees because of the new tax reform law, according to Americans for Tax Reform.
The list has been continually updated and jumped from 40 companies to 164 in 10 days, the Washington Examiner reports.
The businesses include American Airlines, AT&T, prominent banks and savings and loans, Boeing, Comcast, Pacific Power, and Visa.
The list shows what each company paid in bonuses and includes attached statements or press releases, saying tax reform was the catalyst for each company’s decision.
AT&T showed direct support for President Donald Trump in its statement and said it expects the changes to produce more jobs and “economic growth."...
It is the return of truthiness. The Trump Administration can't exist without truthiness. It is present in every meeting of the White House Press Briefing. If I hear Sarah "what's her name?" say one more time "there is no collusion" I know it will make me more ill than the flu.
Trump wants to be the first USA Royal Family and be a figure head forever. I suppose he will appear to guide policy when the legislature actually does something, but, this is getting to be ridiculous.
The reason the Wall Street companies gave out bonuses to their employees and upticks to customers, was to cover up the CEO's far bigger take after the Trump Tax Cuts. He can proudly wear the name because it is as corrupt as it comes.
The reason the pay increases and bonuses didn't happen before the tax cuts are because the CEOs didn't want to give their's up in the first place.
So, as the next ten years pass and the tax cuts amount to the $1.5 trillion mark and Americans' tax rates increase in the Middle Class and Poor; they will realize the pay increase they received was to help pay the increased profits of their employers. The real question is not about the pay increases, they will remain, but, what happens next year and the year after that when Middle Class tax rates increase and their pay stays the same? And what does the Middle Class make of their pay increases due to tax cuts and the liability the Trump White House and Congress placed on their children and grandchildren?
The increased tax burden of the Middle Class will return the Working Poor and their children will never question their poverty so much as their ability to purchase food.
The social safety net will be gone.
December 22, 2017
President Donald Trump (click here) signed the Republican tax-overhaul bill to little fanfare on Friday, delivering a major tax cut to U.S. corporations along with a package of temporary cuts for other businesses and most individuals.
“We are cutting taxes,” Trump told reporters in the Oval Office before signing the legislation. “We are taking care of people.”
Trump’s signature caps a seven-week sprint that began when the House unveiled its tax bill last month, and it gives the GOP its first major legislative victory since January. The private setting was unusual given the significance of the legislation, but the process had been delayed until Congress passed a stopgap spending bill late Thursday.
