The pseudonym "Philo Vaihinger" has been abandoned. All posts have been and are written by me, Joseph Auclair.

Thursday, December 21, 2017

How Bozo kept his promises on tax fairness

Throughout the campaign, Bozo did his best to label Hillary and the Democrats as corrupt toadies to the likes of Goldman Sachs, the hedge fund managers, Wall Street, and the billionaire class.

And he promised to "drain the swamp," attacking lobbying but also specifically attacking the idea of writing tax laws to suit the aforementioned swamp things.

Joe Scarborough on the tax bill

The Morning Joe crew discussed the implications of the Republican tax bill, pointing out it is nothing like what Trump promised voters.

"That's actually a great reminder of what this president and Steve Bannon promised American voters in the fall of 2016: that the world is run by multinational corporations, that hedge funders and Goldman Sachs and all of these huge corporatists across the globe dominate your life," Joe Scarborough said.

"They passed a tax bill that's being celebrated by the largest multinational corporation on the planet. 

"It's being celebrated by hedge fund managers and being celebrated by billionaires that want to pass on as much of their money to the billionaires-in-waiting that are their children. 

"This is -- this is the biggest corporation pro-hedge fund manager tax cut that's ever happened. Ronald Reagan's was an across-the-board middle class tax cut. 

"How do they square that when they go home?"

. . . .

"While some Americans don't understand carried interest, they do understand billionaires paying 14% tax rates year in and year out. 

"They will understand as they go to the polls next year, that what Donald Trump has done has made the rich even more comfortable, made the poor even more strapped. 

"Has caused health care, the foundation of our healthcare system, to be shaken. 

"I mean, they may not have to have a perfect definition for what carried interest is, but they will know this was a sop to the rich," Scarborough said.

The Demos Institutes's Heather McGhee agreed.

"That's right. and they'll understand that this bill rewards wealth over work. if you make your money because you inherited it from your wealthy parents or because you look at the newspaper and the stock market has gone up and that's what you've done today, great, I made another $10,000, this is a windfall.

"But if you make your money by pushing a broom or caring for people, you may get a less than 1% increase in your after-tax income in 2019, but your health insurance premiums will go up by about 10%, and good news, Paul Ryan says next year we're going to use the excuse of the $1.5 trillion deficit to come after your Social Security and Medicare.

He also ran on promises to make Social Security and Medicare better and stronger.

They are both schedule for cuts when the deficit balloon set up by this tax bill inflates.

A tax bill he could not cheer and trumpet enough.

By the way, Joe sounds more and more like Mika, all the time.

Good for her, and good for him.

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