The Ungrateful Dead
Who remembers the Trump Tax Cuts of 2018? While promising a huge boost to the economy by lowering the corporate tax rate and the top bracket for individual tax rates, it has had exactly the opposite effect. GDP growth fell throughout 2018, the federal budget deficit soared upward, while banks and corporate CEOs took those extra dollars intended for capital investment and gobbled up stocks in buy backs, while telling employees and ordinary citizens seeking loans to “go suck eggs.” I took my tax refund and ran out and bought one extra Big Mac and then filled up my trusty old rust bucket’s tank for one trip to grandma’s house…before the second shoe fell.
Right on schedule here is that shoe with the double cross on it: Yesterday Trump submitted his budget proposal to Congress in which he wants to cut all domestic spending by 5 percent, while gouging Social Security, Medicare, and Medicaid, plus aid to the poor, the disabled, and children in order to plug up part of the hole he blew in the budget with his tax windfall to the wealthy. It’s that age-old trick that fools the loyal lemmings every time—take from the poor and give to the rich, aka Robin Hood in reverse.
BTW he has already torpedoed the Consumer Price Agency, NASA, HUD, the EPA, the FBI, CIA, DOJ, SEC, and Interior while he padded the Supreme Court with right-wing legal geniuses and told us a mere 9,000+ lies while looking right in our faces. He has also partially wrecked our entire public-school system, protected the rights of our coal miners and others to acquire black lung disease, scoffed at climate change, mocked students who are loaded down with debt, while making cuts to the VA and to veterans.
Bloomberg has analyzed his tariff dealings with China et al. and found that the U.S. is coming out on the short end of the stick with his deal making skills in this arena. I guess none of his history majors masquerading as economic advisors told him that tariffs on China imports are paid by Americans, not by the Chinese. And so, our trade deficit is also getting worse while we are paying for the privilege of taking on the added burden.
Meanwhile, we have yet to find out about his connections with his BFF, Madam Li “Cindy” Yang, the Palm Springs massage parlor queen who has been selling Chinese execs access to Mar-a-Largo and the Trump gang. And what the blazes was his 77-year old billionaire pal and Patriots owner, Robert Kraft, doing in one of her (former) sleazy spas? I don’t think they spit shine super bowl rings in those places. Come on, Robert, you’re giving the entire population of billionaire septuagenarians a bad name. I could be wrong.
If there is anyone left who believes this cheat, liar, misogynist defender of Putin, Kim Jong Un and the whole gang of conspiracy crooks (39 indicted at last count) who have been charged or convicted of lying, cheating, and robbing their way into a prison cell. “Oh, not to worry—DJ will pardon us.” One wonders if that clause is in their loyalty oaths or their nondisclosure agreements? He will likely pardon Manafort, but the others are certain to be left to hang and silently turn and twist in the breeze.
There’s no question that tax cuts fueled dividends and buybacks for financial institutions. Bloomberg’s review, based on commentary from 23 U.S. banks and the Federal Reserve, indicated that the financial institutions increased their dividends and stock buybacks by an average of 23%. Wells Fargo increased its repurchases and dividends by $11.3 billion, trumping Morgan Stanley’s $1.8 billion increase, which was equivalent to the Veteran Association’s request for homelessness programs for FY2019.
All the foregoing are probably fake facts, made up by radical socialists who are too lazy to go out and about among the decaying infrastructure and the empty factories to apply for one of those millions of high-paying jobs made possible by the master of the deal, the walrus that waddled, and tried to make America what he believed she was always destined to be—a haven for the tired, the poor, the wretched refuse of our teeming shores, longing to breathe free. Not to be confused with that other fine group of freedom seekers--the Ungrateful Dead.
Adam Smith
Ron
Love ya!
Jane