Trump’s Tax Cut Was Supposed to Change Corporate Behavior. nytimes.com/2018/11/12/bus… Instead, nearly a year after the tax cut, while economic growth has accelerated, wage growth has not. Companies are buying back stock.
"Since the tax cuts were passed, the 1,000 largest public companies have actually reduced employment...They have announced the elimination of nearly 140,000 jobs — which is almost double the 73,000 jobs they say they have created in that time" nytimes.com/2018/11/12/bus…#TaxScam
2020 Democrats should make sure they emphasize the failures of the #TaxScam championed by the Republicans in the largest transfer of wealth to the already-wealthy, & to the detriment of regular people & the country.
1. The Trump recession clouds the horizon thanks to his ridiculous trade war and #TaxScam bill which paid a $ multi-million bribe to Mar-A-Lago members left the rest of Americans with a choice between additional trillions in deficit or killing Social Security and Medicare.
2. Mr. Trump’s greed is destroying our healthcare with rising costs and junk insurance policies. It is so bad Republicans are lying flat out to constituents about their votes and their desire to repeal the affordable care act while they are suing to kill the affordable care act.
3. Despite gains in employment wages are still pretty stagnant but inflation at the grocery store, gas pump, and retail clothing stores is destroying working class America and it is set to get worse.
This article is from last December, but it's worth remembering. GOPers knew the #TaxScam would cause enormous deficits. They planned (and still plan) to dismantle Social Security and Medicare to pay for it. Problem is, SocSec and Medicare HAVE NOTHING TO DO WITH THE DEFICIT.
Both Social Security and Medicare are funded through dedicated taxes (your payroll taxes, otherwise known as FICA), and are NOT part of the general fund.
The only way to use SocSec and Medicare to pay for the #TaxScam is to STEAL *YOUR* HEALTHCARE AND RETIREMENT MONEY.
You have been paying into these special funds--which are NOT part of the general treasury, and contribute NOTHING to the deficit--you have been paying into these earmarked funds all your working life, under the promise that YOUR money would be there for you when you need it,
1/ If anything “good“ came out of the 2016 election (besides the wonderful emergence of black, WOC, women lead political & activist groups) it’s that we no longer have to be forced to buy the lies coming from decades of Republican leadership:
2/For example, Lie #1: “That cutting taxes benefits everyone.” We know that the tax cuts don’t benefit everyone! The data has shown that the republicans #TaxScam is just that. We know that it only truly benefits the very rich. newsweek.com/republican-tax…
3/We know that those who do benefit from the tax cuts, the very wealthy, do not reinvest in their workers; they re-invest in stocks and bonuses for themselves. vox.com/2018/8/2/17639…
1. This idea that some #GOP have that the DT’s risky behavior is worth the risk because of the potential gains needs some tempering. In fact, the idea that DT would bring some flair for fortune-building from his business acumen was always dangerous.
2. For starters, there are few similarities between running a country and running a business and even fewer similarities between ‘business deals’ and global relations, foreign trade and the balance of power. And the latter issues, our POTUS barely comprehends.
3. #GOP leaders know this, but they’re still clinging to this monster of their own making. Let’s face it, 2 #SCOTUS seats, Ryan’s coveted #taxscam and busting up the #ACA is almost worth the destruction of the global economy, peaceful alliances, even their party, worth it.
Democrats are against your attack on farmers, your brutalizations of the elderly and the sick with your ACA vandalism, your additional trillion dollars our kids will have to pay down while fighting the ravages of climate change, your failure on net neutrality, oh and treason.
Democrats are against your @POTUS’ inhumane border policies, your attempts to privatize and then loot the VA, your failure on DACA. And you know what dude, your #TaxScam didn’t really put more money in our pockets.
Democrats are against your attempts to turn our schools into labor camp training grounds, your failure to keep @POTUS in the realm of basic human decency. Democrats oppose your restrictions to free trade, your lack of patriotism, your pro-Putinist foreign policy debacles.
THREAD: The new tax law is a raw deal for the middle class. 83% of the benefits go to the 1%, and it blows a $1.5 trillion hole in the deficit. But don't just take my word for it, here's 42 examples of how the #TaxScam hurts working families as well as a vision for #ABetterDeal:
What does this mean? It means the funding sources the @GOP has used to prop up rancid puppets like Roy Moore and hoped to use for Arpaio is gone. It also means that the @GOP is no longer going to be able to keep their reverse laundromat: #Resistance @GOP ==> Trump, Inc ==> ??
Trump, Inc. has been absolutely voracious in getting money. From inappropriate spending at T properties (100% of it) to hats to overcharging the @GOP for basic services, stealing the money from the inauguration, plus the phony Innaug contributors.
THREAD: I've seen this picture often. It lists 66 programs that Trump has/may cut in order to fund the #TaxScam. I was thinking 66 programs - but what ARE those programs. I intend to go through each one and see just how we ALL (that means Trump's base) are effected.
1. McGovern-Dole Food for Education Program.
The McGovern–Dole International Food for Education and Child Nutrition Program helps support education, child development and food security in low-income, food-deficit countries around the globe. The program provides for the
donation of U.S. agricultural commodities, as well as financial and technical assistance, to support school feeding and maternal and child nutrition projects.
THREAD: I'm a small-business owner. A job creator. Met with my CPA; learned that @SenateGOP@HouseGOP#TaxScamBill#TaxScam will result in a massive net tax increase to my business & me, constraining employee wages, benefits, & our ability to hire.
2/ Talk to your accountant. If you run a small business or are an upper-middle-class professional, you are about to get hammered thanks to the @GOP, @SenBobCorker, @SenatorCollins, etc. You may think you're rich in their eyes—statistically you're right. But no.
3/ The @SenateGOP@HouseGOP@GOP is taking money from you—YOU, the real job creators—and giving $1.5 trillion to massive C-corporations. Country club Republican doctors, lawyers, accountants, small-business people who needed relief to expand? It's your pocket being picked.
1. #TAXscam explained by a nerd -
Imagine a video game 500 yrs ago. Even though everyone had to play every day, only Christian white males were allowed to earn points from everyone's work. Everyone could pass their points down to their children, but only white males had points.
2. It's 2017 & rich white males have more experience points than everyone else. Not only do they have more experience points than everyone else, but they also have more health, property, and education points. They even stole points from others.
3. They look at their points and they decide (as the super players) they want more points from the total points available. So, they get together to change the rules. Through rules, they take away the ability of other players to earn more health, property, and education points.
THREAD: Do you feel it? Something shifting? Accelerating? This week I keep hearing @TimothyDSnyder in my head. #Tyranny is on the move.
1. This week, the FCC voted to end #NetNeutrality despite its popularity. This give away to ISP's is more concerning than the normal kleptocratic giveaways of this regime because it directly affects media and public discourse.
2. Of course, we all knew it was coming. I didn't even wait for the news yesterday because I knew. I knew from Pai's appointment and the sham call for comments that they hid & then hijacked. I knew when they dumped the news the wed. before thanksgiving. Yesterday was confirmation
THREAD: Architects & Engineers: I’ve been sitting on an airplane flying over the greatest nation on the planet and I have a few thoughts I’d like to share.
2/ I’m listening to my Spotify playlist and a song came on called You Were Born (link below.) It begins, “You were born into a strange world. Like a candle you were meant to share the fire. I don’t know where we come from. I don’t know where we go.”
3/ My great-grandparents were first-year immigrants. They came from Poland looking for a better life. They didn’t speak English. In fact their accents were so poor that the translation by immigration officers at Ellis Island actually altered our family name.
THREAD: Here’s how @SenFranken should start his remarks tomorrow: My name is Al Franken and here is why I’m not resigning from the senate.
Our country is being hijacked by very bad people. Rapists and pedophiles and Nazis and Racists and Treasonists and Crooks and Liars and Thieves. I have behaved badly. I have mistreated women for many years. I have acted irresponsibly. And I am ashamed. And embarrassed.
I have apologized. And I will continue to apologize. And I will earn back the trust of the women of MN and the nation. But there is far to much at stake for me to resign this office. These are hard dark times. The soul of our nation is weakening by the day.
1/ On mental health and #Resistance (a personal story) THREAD: I was, for a while, trying to do an essay or “tweet... fb.me/GgvZHzUR
2/ For context, I own my own business and that takes easily 60 hours a week of my time. And since that business is a mental health therapy practice, I can’t just emotionally “check out” and go to work anyhow. I have to be fully “present”, to the best of my ability, when I work.
3/ On top of that, my husband has severe chronic pain issues and I have the majority of all the home tasks, in addition to helping him with his ADLs (activities of daily living) to allow him to keep working because we can’t afford for him to quit.
We know the House has passed their version of the #GOPTaxPlan. We have no time to lose. We are in a race to defeat this. The Senate will be trying to pass their version next, but we can’t just wait on that. We need to full on hit the House & Senate to defeat this NOW. 2/x
The ordinary process (rule of order) for a tax plan is: 1. House and Senate pass their separate versions.
2 .There is a "conference" on a compromise. 3. The final compromise through BOTH Senate and House again. 4. The President signs it into law. 3/x #GOPTaxScam