Don't buy the spin: The new tax plan is a huge giveaway to the rich
The LA Times is in Mexico to assess the earthquake’s damage and look for lessons for California. The LA Times is in Mexico to assess the earthquake’s damage and look for lessons for California. The LA Times is in Mexico to assess the earthquake’s damage and look for lessons for California. The Mitchell Caverns in the Mojave Desert closed to the public in 2011, but they will reopen to tourists in November. The Mitchell Caverns in the Mojave Desert closed to the public in 2011, but they will reopen to tourists in November.
Conservatives Heap Praise on Tax Plan to 'Turbo-Charge' Economy
Speaking before a gathering in the Trump International Hotel on Tuesday night, one of Washington’s most influential conservatives told an elite gathering the coming tax reform proposal would be worthy of praise. The proposal would consolidate individual rates to three and possibly a fourth later. The rates would be 12, 25 and 35 percent, with a possible higher rate on the very wealthy. The corporate rates would drop to 20 percent from 35 percent, which is better than expected, though Trump had promised 15 percent on the campaign trail. The GOP tax plan would also expand tax credits for children.
And now for corporate taxes
OK, it’s time to run down the “unified framework” proposals for corporate taxes. I’m going to try to choose my bullet points carefully. But then there are all the additional measures necessary to (partly) pay for this largesse. Kevin is a political blogger for Mother Jones. Mother Jones is a nonprofit, and stories like this are made possible by readers like you.
Ag Groups Praise Tax Reform Framework, but Want to See Details - Hoosier Ag Today
The President specifically mentioned farmers and the benefits of his reform plan to family farming operations. However, AFBF says any tax reform package should also include the continuation of cash accounting and like-kind exchanges, unlimited stepped-up basis, and lower capital gains taxes. Stepped-up basis, cash accounting, like-kind exchanges, cost recovery, and the deductibility of interest payments are just a handful of the provisions that allow agricultural producers to survive despite the many challenges we face, from market volatility and fluctuating input prices, to droughts, wildfires, and floods, to the challenge of generational transfers. Add to that the complexity and costs of merely complying with the tax code, and their budgets are stretched even tighter. President Trump is right to push for reform and reductions in the tax code—an overhaul that is long overdue.”
Verify: What does Trump's tax plan mean for you and what remains unknown?
The Trump administration on Wednesday proposed dramatic changes and simplifications to the federal tax code. The 9News Verify team reviewed the tax reform plan to help you understand what changes might affect you and what’s still up in the air. The following graphic breaks down how Trump’s plan compares to the current law for a couple earning $75,000. The plan also preserves tax benefits to encourage work, higher education and retirement security. The framework is exactly that—a guide that shows what Republicans would like to do to the structure of our tax laws.
2017 is no 1986 when it comes to tax reform
The forces that made the overhaul possible back then help explain why it hasn’t happened since. The first to push a plan out of the door was the Treasury Department, which, at the direction of the president, came up with a study for simplifying the tax code. The people were Democrats and Republicans. The principles were two: People with equal income should pay the same amount in taxes, and governments should avoid setting up incentives that distort markets. But among all the loopholes that were closed in 1986 was one in particular that made tax reform back then much easier, according to Dorgan.
Tax Reform — An Idea Whose Time Has Come
The current tax code is burdensome and inefficient and thwarts efforts to revitalize the economy. The new plan for reform includes an overhaul that makes the tax code simpler, fairer, and flatter. The plan has something for all taxpayers, and the current seven tax brackets are simplified to just three: 12 percent, 25 percent, and 35 percent. While the mortgage interest deduction and charitable deduction remain, the goal is to close as many other loopholes as possible. But the road to implementation will be challenging.
No, Trump's Tax Plan Doesn’t Raise Taxes on Low-Income Americans
Often, in a rush to be the first to break a story, reporters will make assumptions and report information without context. The same seems to be happening with tax reform. If that is doubled, the standard deduction would be increased to $12,700. The benefit to lower-income Americans could be even larger if other reform proposals make it into the final legislation. Even the discussions of the cut to the top tax rate risk missing the mark without context.
Corporate America Desperately Craves Tax Reform. Here's Why CEOs Are Worried It Won't Be Everything They Want.
is on the brink of shifting its architecture to the one that they've long craved, and that most of the developed world has long practiced. The framework from the White House and Congressional Republicans would immediately impose U.S. It seems surprising that the Obama plan, proposed as part of his 2016 budget, would be getting serious consideration in the Republican-controlled Congress. But since the effective minimum tax is around 21%, it would hand an extra 8%-plus to the U.S. The reason is that multinationals now have the option of leaving capital abroad, tax free, for decades, so that the present value of the taxes they'll eventually pay when and if they repatriate those long-ago profits is small.
Do you believe in Santa, unicorns & tax reform?
Joseph as opposed to more than half of the same salary for housing in Manteca.The excuse not to index income by region, of course, is that it would be too difficult. What it means is the start of the payment of income taxes would be set high enough to try and avoid any dependency on wealth transfer programs. Tax rates would be significantly higher than in 1913 while tax shelters for avoiding or deferring taxes would be eliminated. That means business strategies to increase profit which results in more economic stimulation would not be sidetracked by strategies to maximize profits by reducing tax liability. The rates could be derived by running a computer model that reduces the overall annual net from federal income taxes by 10 percent on the assumption the reduction and more will be made up by money being freed to re-invest and reducing the skimming off tax dollars to a manage wealth transfer programs.The same tax rates would apply on income American citizens earned in other nations but not the profit of American companies that sell products overseas.
McCain committed to 'bipartisan approach' on tax reform
John McCainJohn Sidney McCainSenate's defense authorization would set cyber doctrine Senate Dems hold floor talk-a-thon against latest ObamaCare repeal bill Overnight Defense: Senate passes 0B defense bill | 3,000 US troops heading to Afghanistan | Two more Navy officials fired over ship collisions MORE (R-Ariz.) is calling for a bipartisan approach to tax reform. Lindsey GrahamLindsey Olin GrahamTop Louisiana health official rips Cassidy over ObamaCare repeal bill Senate Dems hold floor talk-a-thon against latest ObamaCare repeal bill Overnight Defense: Senate passes 0B defense bill | 3,000 US troops heading to Afghanistan | Two more Navy officials fired over ship collisions MORE (R-S.C.) and Bill CassidyWilliam (Bill) Morgan CassidyTop Louisiana health official rips Cassidy over ObamaCare repeal bill Senate Dems hold floor talk-a-thon against latest ObamaCare repeal bill Finance to hold hearing on ObamaCare repeal bill MORE (R-La.). That bill effectively died on Tuesday after it became clear it did not have enough votes to pass. That procedure requires only 51 votes in the Senate, as opposed to a filibuster-proof 60, allowing Republicans the opportunity to pass tax legislation without any Democratic support. The Hill 1625 K Street, NW Suite 900 Washington DC 20006 | 202-628-8500 tel | 202-628-8503 fax
McCain Urges Bipartisan Tax Effort, Echoing Health Demands
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Senator John McCain of Arizona is laying down the same marker on tax legislation as he did on health care, demanding regular order and support from both parties -- a stance that has proved pivotal in thwarting Senate Republican efforts to undo Obamacare. His opposition to the Senate’s latest repeal effort, a bill written by Senators Lindsey Graham and Bill Cassidy, led to its demise this week. McCain’s tax demands cut against GOP leaders’ plans to use the same fast-track procedure on taxes as they tried to use on health care.
Michelle Obama Issues Strong Rebuke To Women Who Voted For Donald Trump
His voice is more true to me.’ To me that just says, you don’t like your voice. But she did counter critics of the Affordable Care Act, which Republicans have tried––unsuccessfully––to repeal: “The Affordable Care Act isn’t Barack’s legacy. Though Obama never mentioned Trump by name, she emphasized the importance of not allowing a certain “bully” to become President. How we insist that the hateful language they hear from public figures on TV does not represent the true spirit of this country. How we explain that once someone is cruel or acts like a bully, you don’t stoop to their level.
Donald Trump Jr.’s Great Escape
I was supposed to be on that same flight from Vancouver to Whitehorse — I spend a lot of time in the Yukon and keep an apartment there — but I’d missed a connection, so I was still in Vancouver when a Whitehorse friend who happened to be at the airport that night called to let me know about an unexpected visitor. I asked her to look around again, to try to spot the agents, because I figured if it was him, they had to be there somewhere. But I was now confident that I knew where he was — give or take a couple hundred thousand square miles — and that it was nowhere near Moscow. I had reason to believe that he finished his hunt and was going to take the 9:10 p.m. I told him that I heard he was in the area, that I was with The New York Times Magazine and that I’d love to talk to him about his trip.
Lena Dunham compares Donald Trump to Dylann Roof in tweet about NFL controversy
"Not only is he a racist but he's a racist with untreated mental illness. Dunham followed up her accusatory tweet with a thread condemning the president and praising those in the NFL, which she may have confused with the NBA, who protest race relations in the U.S. Along with the president’s ire they get every violent racist who supports him. They are deluged with threats. particularly with police.
Donald Trump Cuts Obama's Refugee Target in Half, Takes in More Christians Than Muslims - Geller Report
President Donald Trump has cut in half the number of refugees that were allowed into America during Barack Obama’s presidency. Moreover, Trump’s boosted the number of Christian refugees to the point where they outnumber the number of Muslims. High Commissioner for Refugees drastically cutting the number of refugee candidates it submits to the U.S. is relinquishing its global leadership and moral standing and have challenged parts of the administration’s policy in the courts, pushing the country to move back toward the goals set by Mr. He called for cutting the refugee cap from 110,000 to 50,000 and placed a four-month pause on the refugee program and a more lasting ban on Syrians.
Neil Gorsuch Just Showed His Commitment to Racial Equality Is About As Strong As Donald Trump’s
The court refused, compelling the U.S. Supreme Court to step in and put the execution on hold. Regardless, he appears to have joined Kennedy and the liberals in delaying Tharpe’s lethal injection. Gorsuch may be more eloquent than Donald Trump, but the justice’s support for racial equality as a practical matter now appears to run about as deep as the president’s. It’s sickening to see the newest justice embrace a jurisprudence that excuses white supremacy in the criminal justice system so soon after his paean to equality.
President Donald J. Trump Puts Americans First in Tax Relief
Trump, the House of Representatives Ways and Means Committee, and the Senate Finance Committee are proposing vital tax relief to strengthen the middle class, grow the economy, and unleash America’s economic comeback. A TAX CUT For WORKING AMERICANS: We are laying out a tax-relief framework that will unburden America’s Middle Class. Simplify the tax code: We will simplify tax filing so Americans can file their returns on a single sheet of paper. Lower The Crushing Business Tax Rates: We will cut tax rates for American business and make American business competitive again. Bring Wealth Back: We are proposing an “American Model” that will bring back trillions of dollars held overseas and restore America’s competitive edge.
Untold Damage From the GOP's Theft of a Supreme Court Seat
Verrit is media for the 65.8 million. The purpose of the code is to confirm that the verrit originated at Verrit.com and is not a counterfeit. Elizabeth Wydra is president of the Constitutional Accountability Center. He is the GOP booty from the stolen Obama/Garland seat. He is the product of McConnell’s detestable chicanery–who masterminded the grand theft and then the unscrupulous nuclear option to seal the deal.
Analysis: Trump's political losses this week could hurt his policy agenda
After a defeat on health care and in an Alabama Republican primary race this week, Trump's political stock is falling — and his party is dividing. After a defeat on health care and in an Alabama Republican primary race this week, Trump's political stock is falling – and his party is dividing in ways that could cost the House and Senate majorities that are essential to the president's legislative hopes. "I see the potential for long-term struggles." Trump invested heavy political capital by campaigning for Luther Strange in Tuesday's Republican runoff to fill the Senate seat vacated by Jeff Sessions, who was appointed attorney general. Yet the the interim senator's loss to anti-Republican establishment candidate Roy Moore saps some of Trump's strength when it comes to future political battles on and off Capitol Hill. During his tax speech, the president expressed his frustrations over the failure of the latest Republican attempt to repeal and replace the Affordable Care Act, saying the problem was with "a couple of people" he declined to identify.
Moore's Alabama primary win should put incumbents on high alert
Conservative challenger Roy Moore defeated incumbent Sen. Luther Strange in the Alabama Senate Republican runoff Tuesday, putting President Donald Trump on the losing end of a battle between the populist movement he inspired and the establishment wing of the GOP. Trump endorsed and campaigned for Strange, the state’s former attorney general, who was appointed to the seat by Alabama’s disgraced former governor after Jeff Sessions vacated it to join the Trump administration. But most local and national conservative figures — including former White House chief adviser Steve Bannon — endorsed Moore. Known for his controversial comments about religion and sexuality, Moore is also the state’s former chief justice, who was removed from office twice for putting religion before the law.
Trump broke the Republican Party. Alabama just made it worse.
In 2010, he ran for governor and got 19 percent of the vote. The expectation heading into the special election was that Moore was catnip for a certain part of the Republican base, but a punchline to almost everyone else. In fact, Trump seemed to know little about the man he was campaigning for, apart from the fact that he is very tall. It is possible, perhaps even easy, to convince voters that your policies won’t do what what your opponents say they will—Trump has made an art form out of exactly that. Cautiously, some Democrats have entertained the idea Moore may be odious enough to keep enough Republicans at home or compel them to jump ship, and that Jones is a respectable enough candidate to make it a close race.
Trump's plan to sell tax cuts for the rich is to pretend they're not happening
That’s not the overall public — that’s conservative Republicans. So the plan is to sell it by not talking about it at all. But the basic framework Trump is describing sounds reasonable enough as an agenda — the corporate tax system really is a mess, and most people would enjoy paying lower taxes. It simply doesn’t describe the actual plan that Republicans are coalescing around, one that features a big cut in the top income tax rate and opens up a big new loophole for rich people who get money through partnerships. The plan is for the first Trump to write a profoundly unpopular tax bill and then try to have the second Trump sell it to the public with misleading rhetoric.
Drudge Slams GOP: ‘No Different’ Than Dems
Conservative media icon Matt Drudge blasted the Republican Party on Twitter following another failure to repeal Obamacare, saying it’s clear there’s no difference between them and the Democrat Party. Drudge pointed out the GOP’s proposed plan raises taxes on top earners under the guise of a “surcharge.” First keep Obamacare, now raise taxes on top earners? At least illusion there is difference between parties is finished once and for all! Drudge has been a faithful Trump supporter, but hasn’t hesitated in criticizing him and the Republican Party when he feels they’ve wavered from their promises, even going as far as suggesting the Republican leadership be sued for fraud. This is what Drudge’s website, Drudgereport.com looked like after Trump’s tax plan was released Wednesday.
Opinion | ‘Reasonable’ Republicans are betraying us, too
It received multiple assessments from the nonpartisan Congressional Budget Office and attracted a supermajority of Senate votes. Contrary to popular misconception, the bill was not even passed using the budget reconciliation process. In the absence of any independent assessment of what their proposal does, they made up numbers that ignore big chunks of the bill. On major questions of policy, legislators punted to the states, giving them two years to build new health-care systems from scratch — even though state legislators have little expertise in the matter and few of the resources available to Congress. Judging from this debacle, it looks like we can’t trust the rest of his party to do so, either.
World Opinion of Trump and U.S. - FactCheck.org
The Pew Global Attitudes Project found that citizens in 35 out of 37 countries have less confidence in Trump than they did in former President Obama. For example, 86 percent of Germans said they had “a lot of confidence” or “some confidence” in Obama, but only 11 percent said the same of Trump. However, the Pew Global Attitudes Project since 2002 has been tracking world confidence in U.S. In June, the Pew Research Center released the results of its surveys in 37 countries and found that among those nations “a median of just 22% has confidence in Trump to do the right thing when it comes to international affairs.” By contrast, “a median of 64% expressed confidence” in Obama. The decline in confidence in the U.S.
Pacific Standard Time LA/LA: 1,100 artists from 45 countries
A man drags her by the arm, doubling himself over to escape the helicopter searchlights scissoring the landscape. Los Angeles is the biggest Latin American city outside the region and it is permeated by the language, culture, food and music of the south. And the exhibition at the Los Angeles Municipal Art Gallery, “Condemned to be Modern”, asks uncomfortable questions about the home-grown taste for brutalist architecture in Latin America and what happened when the promised modern future turned into dictatorship and economic stagnation. A highly academic show, as befits the Hammer’s position as part of University of California, Los Angeles, “Radical Women” is no walk in the park. A small show at the Craft & Folk Art Museum shows the Mexican-American border not as a wall but as a place of imagination and possibility, and the artists who inhabit it as makers of “cross-border art”: artists like Raquel Bessudo, who makes polyester jewellery based on the route followed by the deadly immigrant train, La Bestia, or Ana Serrano with her village “Cartonlandia” (pictured) and Ronald Rael, who playfully reimagines the border wall as a cycling track, a xylophone or a place to hang a seesaw.
