Budget / Tax Relate Facts & News Links

Budget | Taxes – Facts & News Links

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Budget | Taxes


Ray Dalio: 70% chance of recession before 2020 election – The roaring American economy will probably sink into a recession before President Trump stands for re-election in 2020… https://cnnmon.ie/2KJy2Ey

Hedge fund billionaire: 70% chance of recession before 2020 election

Hedge fund billionaire: 70% chance of recession before 2020 election

Hedge fund billionaire: 70% chance of recession before 2020 election

The roaring American economy is likely to sink into a recession prior to President Trump’s bid to get reelected in 2020.

Source: cnnmon.ie/2KJy2Ey


GOP tax plan means short-term gains, but federal debt is primed to explode: … the CBO estimated the cumulative deficit over the next decade will be $1.6 trillion larger than previously projected. By 2028, the national debt would total 96 percent of GDP. https://cnb.cx/2ri7y5N

The GOP tax plan means short-term gains for the economy, but the federal debt is primed to explode, CBO analysis says

The GOP tax plan means short-term gains for the economy, but the federal debt is primed to explode, CBO analysis says

The GOP tax plan means short-term gains for the economy, but the federal debt is primed to explode, CBO analysis says

The CBO estimated the cumulative deficit over the next decade will be $1.6 trillion larger than previously projected. By 2028, national debt would total 96 percent of GDP.

Source: cnb.cx/2ri7y5N


Pay is soaring for the wealthy. What about you? https://yhoo.it/2I8PaC8

Elites are thriving under Trump

Elites are thriving under Trump

Elites are thriving under Trump

Investors and Wall Street traders are the prime beneficiaries of Trump’s economic policies so far.

Source: yhoo.it/2I8PaC8


Trump claimed the tax bill would lead to a huge boost in business spending — but there’s no sign of it yet https://read.bi/2Gd7lGp

Trump claimed the tax bill would lead to a huge boost in business spending — but there’s no sign of it yet

Trump claimed the tax bill would lead to a huge boost in business spending — but there’s no sign of it yet

Trump claimed the tax bill would lead to a huge boost in business spending — but there's no sign of it yet

New tax cuts are unlikely to spur business investment to any large extent, according to a new survey conducted by the Atlanta Fed in conjuction with academics.

Source: read.bi/2Gd7lGp


New from the @TaxPolicyCenter: more proof that the #GOPTaxScam prioritizes the very wealthy over working families. https://www.washingtonpost.com/news/wonk/wp/2018/03/30/the-richest-americans-get-a-33000-tax-break-under-the-gop-tax-law-the-poorest-get-40/?utm_term=.02a55de72f2 …

Analysis | The richest Americans get a $33,000 tax break under the GOP tax law. The poorest get $40.

Analysis | The richest Americans get a $33,000 tax break under the GOP tax law. The poorest get $40.

Analysis | The richest Americans get a $33,000 tax break under the GOP tax law. The poorest get $40.

A new analysis came out this week about the GOP tax law.

Source: www.washingtonpost.com/news/wonk/wp/2018/03/30/the-richest-americans-get-a-33000-tax-break-under-the-gop-tax-law-the-poorest-get-40/?utm_term=.02a55de72f2


The theory behind Trump’s tax cuts is exactly what gave us the failed Bush economy – Vox http://bit.ly/2GUvXXS

The theory behind Trump’s tax cuts is exactly what gave us the failed Bush economy

The theory behind Trump’s tax cuts is exactly what gave us the failed Bush economy

The theory behind Trump’s tax cuts is exactly what gave us the failed Bush economy

An influx of foreign hot money isn’t what we need.

Source: bit.ly/2GUvXXS


Republicans like to pretend Bush’s tax cuts never happened | MSNBC https://on.msnbc.com/2GXr2FG

Republicans like to pretend Bush’s tax cuts never happened

Republicans like to pretend Bush’s tax cuts never happened

Republicans like to pretend Bush's tax cuts never happened

Donald Trump believes there hasn’t been a federal tax cut “since Reagan.” There’s a reason he and Republicans like to pretend the Bush/Cheney era didn’t happen.

Source: on.msnbc.com/2GXr2FG


Republican Plans to Cut Taxes Now, Cut Programs Later Would Increase Homelessness and Hardship https://t.co/GGf52AxNXh

Republican Plans to Cut Taxes Now, Cut Programs Later Would Increase Homelessness and Hardship

Republican Plans to Cut Taxes Now, Cut Programs Later Would Increase Homelessness and Hardship

Republican Plans to Cut Taxes Now, Cut Programs Later Would Increase Homelessness and Hardship

Congressional Republicans this fall are poised to launch step one of a likely two-step tax and budget agenda: enacting costly tax cuts now that are heavily skewed toward wealthy households and profitable corporations, then paying for them later through program cuts mostly affecting low- and middle-income families.  Most individuals and families would lose more from the program cuts than they would gain from the tax cuts.

Source: t.co/GGf52AxNXh


Tax Cuts in the Bag, Paul Ryan Lustfully Eyes Welfare “Reform” | Vanity Fair http://bit.ly/2GGE3k9

Tax Cuts in the Bag, Paul Ryan Lustfully Eyes Welfare “Reform”

Tax Cuts in the Bag, Paul Ryan Lustfully Eyes Welfare “Reform”

Tax Cuts in the Bag, Paul Ryan Lustfully Eyes Welfare “Reform”

The House Speaker cannot imagine a better follow-up than gutting the social safety net.

Source: bit.ly/2GGE3k9


From Reagan to Trump: blaming poor people for their own poverty, to justify slashing subsistence programs http://rewire.link/2pwgDbB

Thanks, Ronald Reagan: Today’s ‘Kill It to Save It’ Politics Are Not New – Rewire

Thanks, Ronald Reagan: Today’s ‘Kill It to Save It’ Politics Are Not New – Rewire

Thanks, Ronald Reagan: Today's 'Kill It to Save It' Politics Are Not New - Rewire

The Trump administration’s slash-and-burn approach to governing has its origins in the Vietnam conflict and the Gipper’s rhetoric blaming the poor, liberals, and supposed over-reliance on government for U.S. ills.

Source: rewire.link/2pwgDbB


Paul Ryan Is Trying to Give His Attacks on the Poor a Shiny New Rebranding http://bit.ly/2GHQ4Ga

Paul Ryan Is Trying to Give His Attacks on the Poor a Shiny New Rebranding

Paul Ryan Is Trying to Give His Attacks on the Poor a Shiny New Rebranding

Paul Ryan Is Trying to Give His Attacks on the Poor a Shiny New Rebranding

Welfare hardly exists anymore in the United States. Yet in his ever-persistent war on the poor, Paul Ryan is pushing a proposal that “could include work requirements for welfare beneficiaries,” as Politico reports. And to do so, Ryan and other Republicans are trying out a shiny new rebrand.

Source: bit.ly/2GHQ4Ga



Donors’ threats, and efforts to please big donors, continue to drive tax bills in Congress. Bipartisanship? Good policy? Tax fairness? Nope, follow the money. https://t.co/YytTAZkutL

Leader of key GOP super PAC warns lawmakers: Oppose tax bill at your peril

Leader of key GOP super PAC warns lawmakers: Oppose tax bill at your peril

Leader of key GOP super PAC warns lawmakers: Oppose tax bill at your peril

Corry Bliss, who runs the Congressional Leadership Fund, said Republicans who choose to vote against the tax bill could not assume they would have the group’s support going into a grueling midterm election year.

Source: t.co/YytTAZkutL


Senate Republicans refuse to believe the official analysis of their tax plan http://bit.ly/2zVGjEe

Senate Republicans refuse to believe the official analysis of their tax plan

Senate Republicans refuse to believe the official analysis of their tax plan

Senate Republicans refuse to believe the official analysis of their tax plan

Alternative facts.

Source: bit.ly/2zVGjEe


Donald Trump Spreads Economic Fairy Dust | The Nation http://bit.ly/2w9J5A1

Donald Trump Spreads Economic Fairy Dust

Donald Trump Spreads Economic Fairy Dust

Donald Trump Spreads Economic Fairy Dust

He’s pushing the same old failures of Reaganomics: tax cuts for the rich and deregulation, along with nostalgia for an industrial era long gone.

Source: bit.ly/2w9J5A1


The Richest One Percent of U.S. Gets Half the Trump Tax Cuts http://nym.ag/2zjFKmM

The Richest One Percent of America Gets Half the Trump Tax Cuts

The Richest One Percent of America Gets Half the Trump Tax Cuts

The Richest One Percent of America Gets Half the Trump Tax Cuts

Never change, Republicans.

Source: nym.ag/2zjFKmM


The ‘doubled standard deduction’ in the GOP tax plan is a lie http://read.bi/2wW7GYK

The ‘doubled standard deduction’ in the GOP tax plan is a lie

The ‘doubled standard deduction’ in the GOP tax plan is a lie

The 'doubled standard deduction' in the GOP tax plan is a lie

In selling their soon-to-be-released tax plan, Republicans have been leaning hard on doubling the standard deduction that people who pay income tax may take.

Source: read.bi/2wW7GYK


Small business lobby opposed to GOP tax bill | TheHill http://bit.ly/2lIg0uF

Small business lobby opposed to GOP tax bill

Small business lobby opposed to GOP tax bill

Small business lobby opposed to GOP tax bill

A top small business group has come out against the Republican tax-reform bill, arguing the legislation “leaves too many small businesses behind.”

Source: bit.ly/2lIg0uF


Big business is a big winner of GOP small business tax plan https://t.co/yoiSFG5xVb

Big business is a big winner of GOP small business tax plan

Big business is a big winner of GOP small business tax plan

Big business is a big winner of GOP small business tax plan

Proposal would benefit NFL and Fiat Chrysler but not the local dry cleaner

Source: t.co/yoiSFG5xVb


Senate unveils 2018 budget resolution that would increase deficit by $1.5 trillion http://hill.cm/yc10bBa

Senate GOP budget paves way for $1.5T in tax cuts

Senate GOP budget paves way for $1.5T in tax cuts

Senate GOP budget paves way for $1.5T in tax cuts

The Senate Budget Committee unveiled a budget resolution for 2018 on Friday that would allow the party to shield its tax reform bill from a Democ

Source: hill.cm/yc10bBa


Corporate Tax Cuts Don’t Create Jobs, They Enrich CEOs | The Nation http://bit.ly/2vIldTS

Corporate Tax Cuts Don’t Create Jobs, They Enrich CEOs

Corporate Tax Cuts Don’t Create Jobs, They Enrich CEOs

Corporate Tax Cuts Don’t Create Jobs, They Enrich CEOs

A new study provides galling examples of this trend.

Source: bit.ly/2vIldTS


Tax Cuts for the Rich by Another Name – The New York Times http://nyti.ms/2wbVAuS

Opinion | Tax Cuts for the Rich by Another Name

Opinion | Tax Cuts for the Rich by Another Name

Opinion | Tax Cuts for the Rich by Another Name

A plan Republicans say will help small businesses would really benefit hedge fund managers and real estate developers.

Source: nyti.ms/2wbVAuS


No surprise here: GOP’s tax plan cuts taxes for millionaires and does so at the expense of everyone else. https://t.co/ADDd8hyqXC

New details of GOP tax plan reveal focus on wealthy

New details of GOP tax plan reveal focus on wealthy

New details of GOP tax plan reveal focus on wealthy

The proposal would lower rates across the board for individuals and corporations, but outside analysts say, based on the details known so far, the bulk of the benefits would go to the rich.

Source: t.co/ADDd8hyqXC


NOW WE KNOW WHY — Koch network ‘piggy banks’ closed until Republicans pass health and tax reform | The Guardian http://crwd.fr/2xiRylQ

Koch network ‘piggy banks’ closed until Republicans pass health and tax reform

Koch network ‘piggy banks’ closed until Republicans pass health and tax reform

Koch network 'piggy banks' closed until Republicans pass health and tax reform

Koch officials said that the network’s midterm budget for policy and politics is between $300m and $400m, but donors are demanding legislative progress

Source: crwd.fr/2xiRylQ


No, @realDonaldTrump, middle class wages don’t rise when you cut taxes for the wealthy. https://www.washingtonpost.com/news/wonk/wp/2017/09/27/beware-of-trumps-claim-that-wages-will-soar-after-he-cuts-taxes/?utm_term=.f6668600918c … #TaxReform

Analysis | Be skeptical of Trump’s claim that wages will soar after he cuts taxes

Analysis | Be skeptical of Trump’s claim that wages will soar after he cuts taxes

Analysis | Be skeptical of Trump’s claim that wages will soar after he cuts taxes

Weekly wages didn’t go up after the 1986 tax overhaul.

Source: www.washingtonpost.com/news/wonk/wp/2017/09/27/beware-of-trumps-claim-that-wages-will-soar-after-he-cuts-taxes/?utm_term=.f6668600918c …


Co-creator of the trickle down theory: trickle-down is a lie divorced from reality. cc: @realDonaldTrump https://www.usatoday.com/story/opinion/2017/09/27/tax-cut-fever-republican-supply-side-theory-hogwash-bruce-bartlett-column/704464001/ … #TaxReform

Tax cut fever: Republican trickle-down theory is lies

Tax cut fever: Republican trickle-down theory is lies

Tax cut fever: Republican trickle-down theory is lies

I helped create the conservative gospel of slashing taxes. But virtually everything Republicans say about taxes today is hogwash.

Source: www.usatoday.com/story/opinion/2017/09/27/tax-cut-fever-republican-supply-side-theory-hogwash-bruce-bartlett-column/704464001/ …


GOP’s Deja Vu Budget Slashes Social Programs to Fund Tax Cuts for Rich – https://goo.gl/Lv4ssu

GOP’s Deja Vu Budget Slashes Social Programs to Fund Tax Cuts for Rich

GOP's Deja Vu Budget Slashes Social Programs to Fund Tax Cuts for Rich

House GOP budget blueprint would boost military spending and give tax cuts to the wealthy while slashing nation’s safety net

Source: goo.gl/Lv4ssu



Reason middle-class Americans should hope Trump fails on tax reform – Business Insider http://read.bi/2t8EwYC

There’s one really good reason middle-class Americans should hope Trump fails on tax reform

There's one really good reason middle-class Americans should hope Trump fails on tax reform

The plan would “cut taxes at every income level, but high-income taxpayers would receive the biggest cuts, both in dollar terms and as a percentage of income.”

Source: read.bi/2t8EwYC



Reverse-Trump Tax Policies Lead To Economic Boom in Sweden http://bit.ly/2rRdtAr

Reverse-Trump Tax Policies Lead To Economic Boom in Sweden

Reverse-Trump Tax Policies Lead To Economic Boom in Sweden

Sweden has achieved robust economic growth by implementing reverse-Trump economic policies such as higher taxes and increased welfare spending.

Source: bit.ly/2rRdtAr


Trump budget replicates disastrous Kansas approach. This won’t end well. http://www.kansascity.com/opinion/editorials/article152242787.html

Editorial: Trump budget replicates disastrous Kansas approach. This won’t end well.

Editorial: Trump budget replicates disastrous Kansas approach. This won’t end well.

The Trump budget calls for tax cuts and shreds the social safety net. Kansas has already tried that approach, with terrible results. America has been warned.

Source: www.kansascity.com/opinion/editorials/article152242787.html


Tax Reform = Trickle Down Economics = Proven Failure


The ‘trickle down theory’ is dead wrong http://cnnmon.ie/1LaIuSP via @CNNMoney

The “trickle down theory” is dead wrong

The "trickle down theory" is dead wrong

The economic theory that wealth trickles down from the rich to the poor is dead wrong, according to new research from the International Monetary Fund.

Source: cnnmon.ie/1LaIuSP


Trickle-down economics is the greatest broken promise of our lifetime | Alex Andreou https://www.theguardian.com/commentisfree/2014/jan/20/trickle-down-economics-broken-promise-richest-85?CMP=share_btn_tw

Trickle-down economics is the greatest broken promise of our lifetime | Alex Andreou

Trickle-down economics is the greatest broken promise of our lifetime | Alex Andreou

Alex Andreou: The richest 85 people in the world have as much wealth as the poorest 3.5bn. That should be a wake-up call to the deepest sleepers

Source: www.theguardian.com/commentisfree/2014/jan/20/trickle-down-economics-broken-promise-richest-85?CMP=share_btn_tw


A Wealthy Capitalist on Why Money Doesn’t Trickle Down http://bit.ly/2u9C4Bf via @BillMoyersHQ

A Wealthy Capitalist on Why Money Doesn’t Trickle Down | BillMoyers.com

A Wealthy Capitalist on Why Money Doesn't Trickle Down | BillMoyers.com

The fundamental law of capitalism is: When workers have more money, businesses have more customers.

Source: bit.ly/2u9C4Bf


Every Republican Who Signed the Norquist Tax Pledge Violated Their Oath of Office http://bit.ly/2hlB7AV

Every Republican Who Signed the Norquist Tax Pledge Violated Their Oath of Office

Every Republican Who Signed the Norquist Tax Pledge Violated Their Oath of Office

Every one of the Republicans who signed on to serve Norquist are violating their oath to serve the Constitution, and thus the American people and the United States government.

Source: bit.ly/2hlB7AV


Reality Check: Effective U.S. Corporate Tax Rate Much Lower Than Most Other Developed Nations https://thinkprogress.org/reality-check-effective-u-s-corporate-tax-rate-much-lower-than-most-other-developed-nations-fcc56eb40eb1/ via @thinkprogress

Reality Check: Effective U.S. Corporate Tax Rate Much Lower Than Most Other Developed Nations

Reality Check: Effective U.S. Corporate Tax Rate Much Lower Than Most Other Developed Nations

Republicans have been kvetching today about the fact that, as of Sunday, the U.S. will have the highest statutory corporate tax rate in the world following a scheduled cut in Japan’s corporate tax. “The United States is a world leader in countless ways. ‘World’s Highest Taxes’ is a title we should give up as soon as possible,” wrote Sen. John Barrasso (R-WY) in a Fox News op-ed.

Source: bit.ly/2vZWVIa


Actual U.S. Corporate Tax Rates Are in Line with Comparable Countries https://www.cbpp.org/research/federal-tax/actual-us-corporate-tax-rates-are-in-line-with-comparable-countries

Actual U.S. Corporate Tax Rates Are in Line with Comparable Countries

Actual U.S. Corporate Tax Rates Are in Line with Comparable Countries

Various GOP tax plans propose to dramatically lower the top corporate tax rate, arguing that the U.S. rate is one of the highest in the world and that it makes U.S. companies “uncompetitive.”  But these comparisons are misleading.  Rather than focusing on the top “statutory” corporate rate, they should focus on what companies actually pay.  Plus, they should focus on large, high-income countries, which companies are likely to view as similar to the United States in terms of being attractive places to locate and invest for reasons not related to the tax system.  When taking into account tax breaks and loopholes that corporations use to lower their taxes, U.S. corporate tax rates are well below the 35 percent top statutory rate and are in line with corporate tax rates in similar countries.  The Treasury Office of Tax Analysis estimates:[1]

Source: www.cbpp.org/research/federal-tax/actual-us-corporate-tax-rates-are-in-line-with-comparable-countries



Ten Facts You Should Know About the Federal Estate Tax | Center on Budget and Policy Priorities http://bit.ly/2vVgP7g

Ten Facts You Should Know About the Federal Estate Tax

Ten Facts You Should Know About the Federal Estate Tax

The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs.  Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.49 million per person (effectively $10.98 million per married couple) in 2017.[2]The estate tax limits the large tax breaks that extremely wealthy households get on their wealth as it grows, which can otherwise g

Source: bit.ly/2vVgP7g


Your tax reform only really lowers taxes for the wealthiest. We always make up the difference, whether at federal, state or local level.


Here are the 66 programs eliminated in Trump’s budget http://hill.cm/WMK7Sbx

Here are the 66 programs eliminated in Trump’s budget

Here are the 66 programs eliminated in Trump's budget

The program cuts would save $26.7 billion.

Source: hill.cm/WMK7Sbx


GOP trashes the economy Dems fix it, GOP trashes the economy Dems fix it, GOP is NOT the party of fiscal conservatism. #Truth


The Trump Budget’s Massive Cuts to State and Local Services and Programs | Center on Budget and Policy Priorities http://bit.ly/2t7toYO

The Trump Budget’s Massive Cuts to State and Local Services and Programs

The Trump Budget’s Massive Cuts to State and Local Services and Programs

President Trump’s 2018 budget would deeply cut federal funding for programs and services states and localities deliver.

Source: bit.ly/2t7toYO


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