The Weiner Component V.2 #46 – Results of the Trump Tax Bill

The red "GOP" logo used by the party...

The red “GOP” logo used by the party for its website (Photo credit: Wikipedia)

 

Everyone knows a bribe is illegal but a contribution to a political party is not.  The American political system requires a lot of contributions to successfully operate.  The House of Representatives has an election every two years; the President is elected every four years and the Senate every six years, one third of the body being elected every two years.  For a politician to get elected and stay in office he/she needs a massive and continuous campaign fund.  Consequently he/she and their party is always raising money.  Apparently the Republicans are today receiving very large contributions from very rich individuals and from large corporations.

 

The question remains: When does a contribution become a bribe?  Actually legally it never does; but large constitutions exert a lot of influence upon how a political party acts,

 

Individuals, companies and corporations directly or through lobbyists contribute money to both their favorite political party and to their favorite politicians.  If the contribution is large enough when does it affect the individual politician or the political party causing them to take on the political position of the contributor?  Apparently whatever that financial point is the Republican Party is strongly affected by it.

 

Most corporations meet with their shareholders once a year to have them vote on various issues.  Shareholders can raise questions at this time.  One of these tends to be: What is the amount being contributed to political parties?  The company always requests a no vote on this issue.  I have never seen the measure passed.  I suspect if it were passed it would be ignored.

 

When does a contribution become as big as a bribe?  Or is the Republican Party expecting to get a goodly percentage of the Trump tax reduction as contributions that the upper echelon and the corporations will be receiving?  It would seem that the Republicans are very good at integrating their beliefs with those of the money interests in the United States.

 

Actually it seems that the Republican Party is getting its share of the tax giveaways that are currently being applied to the wealthy.

**************************************

On Tuesday, December 19th the House of Representatives passed the final version of Trump’s Tax Reform Bill.  Paul Ryan and other House Republicans spoke with great enthusiasm about this 1,000 page Bill which essentially significantly lowered taxes for the economically upper few percent of the population and the large corporations.  This is a bill which no one really read in advance, was put together secretly, probably in the dead of night, had the majority of the population of the country strongly against it, and also had adjustments being made to it up until it was voted upon.  From what I understand a last minute addition was added which gave to real estate owners a tax pass through which would give these people millions of dollars in tax benefits.  Besides real estate owners throughout the country this positively affected Trump and a number of Senators.  The public and also most of the Republicans have yet to find out all the ramifications of this thousand page bill.

 

There was a minor technical glitch on the House version of the bill and they had to pass the Bill twice over a two day period.  Trump and his cohorts were congratulating one another over the wonderment of this bill, stating how it was for the middle class: how it would lower their taxes and create endless new jobs.  According to President Trump this was the greatest thing that has happened in this country in the last fifty years.

 

To the majority of Americans the Bill is vastly unpopular.  There were loud protests while the Bill came up on the Senate floor.  Some protestors were removed from the gallery.  There have been protests all over this country by millions of people against this Bill, many political offices throughout the nation have been invaded by individuals loudly protesting this Bill.

 

The Bill passed in the House of Representatives by a vote of 224 to 201 and in the Senate by a vote of 51 to 48.  The vote was along party lines; no Democrat voted for Trump’s so called Tax Reform.  In the House several Republicans voted against the Bill.  They came from states that had voted for Hillary Clinton in the Presidential Election.

 

The Bill drops the corporate tax rate from 35% to 21% and lowers the maximum rate paid by those earning over $418,000 from 39.6% to 37%.  It doubles the current rate charged on inheritances from 5.5 million dollars to 11 million dollars and repeals the inheritance tax after 2025. Apparently Trump expects to live for a long time.

 

It removes the requirement that requires everyone to either belong to a medical plan like Obamacare or pay a penalty.  This. In Trump’s opinion, kills the Affordable Care program.  Actually this allows many younger people to opt out of the program and subsequently forces the insurance companies to further raise their premiums.  Interestingly about 9 million new people have signed up for Obamacare.  The program is far from expiring.

 

At the last minute a measure was added for real estate owners to allow a portion of their profits to pass through their real estate investment.  The amount saved, by the one Republican Senator who was originally going to vote against the Bill from taxes, is over thirty thousand dollars.  It has been estimated that this will cost the government about 45 billion dollars in lost taxes.  This measure convinced this reluctant Republican Senator who is not running for reelection in 2018 to vote for the Bill.  It will profit him and the President.  In addition it will profit a number of Senators and real estate owners throughout the country.

 

The Bill allows oil drilling in the Arctic National Wildlife Refuge.  It is estimated that Trump’s Tax Reform will add 1.46 trillion dollars over the next decade to what is currently a National Debt of over 20 trillion dollars.  The Republicans do well at adding large amounts to the National Debt.

 

It should also be noted that as far as the Bill is concerned the tax cuts to the upper echelon and the corporations are permanent but those for the middle and lower class end in 2025.  Of course they can be made permanent by a subsequent Congress but that will grow the National Debt further.

************************************

The question arises: How permanent are all these changes?  Keep in mind that the Bill was passed in the Congress only by the votes of the Republican majorities in both Houses of Congress.  The majority of the population opposed the bill, many loudly and vociferously.  A midterm election is coming up on the first Tuesday of November 2018 and in January 2019 there will be a new Congress in Washington.

 

In addition the Bill passed in the Senate by 51 Republican votes to 48 Democratic and Independent votes.  Senator John McCain was not present; he was in a hospital in Arizona getting chemotherapy.  In Alabama a Democrat was just elected to the Senate who has not yet taken his Senatorial seat.  Instead a temporary replacement appointed Republican voted for the change.  This Democratic Senator would have changed the balance to 50 Republicans to 49 Democrats.  We don’t know how John McCain would have voted.  We do know that the Bill was crafted at night and much of its contents kept secret.

 

The probability is that over the next year the Republicans will attempt to reduce government costs by significantly reducing their spending on entitlement programs, programs for the poor and the middle class.  They may attempt to do away completely with Affordable Health Care by making it a state program with fixed reduced Federal grants.  And they may attempt to privatize Social Security.  The interesting thing here is that when Social Security was fixed in the 1980s and also had Medicare separated from it under President Ronald Reagan a lot more was paid into it than was needed.  The excess has traditionally been put into the General Fund and Social Security has been given a paper credit for that amount.  The paper credits added up today equal well over two trillion dollars of the National Debt.  If Social Security were privatized would this amount be added to the amount transferred to private enterprise or would it just be forgotten?

***************************************

The blatant cynicism within this bill by the Congressmen who had all taken an oath to the Constitution is appalling. These men are serving themselves first and the country second.  Many openly voted for a bill that would give them tax advantages.  Others like Paul Ryan, the Speaker of the House of Representatives, are highly ambitious.  Even though Ryan comes from a safe Republican area, I understand, he has chosen not to run in 2018; He is temporarily retiring from the government.  Alabama was a safe Republican state that elected a Democratic Senator.  Wisconsin could do the same.  Ryan would like to be President of the United States.  He ran with Mitt Romney in 2012 as Vice Presidential candidate.  If he retires in 2018 he can run in 2024 as the Republican Presidential candidate.

 

It has been suggested by a Republican Congressman that 2018 could be a political blood bath.  The Republicans have forced through Congress strictly on a party basis an unpopular tax reduction bill.  In 2018 they may try and possibly succeed in passing other unpopular bills.  Comes the first Tuesday in November they could easily lose their small majority in the Senate.  They could also lose their larger majority in the House of Representatives.  A lot of people are very angry with Trump and the Republican Party.  They will probably vote accordingly.

 

Virtually all of Trump’s Bill could be eradicated before the end of 2019.  From what I understand Paul Ryan, running for the Presidency in 2024 may have a platform of lowering taxes for rich individuals and large corporations.  That would, of course, be determined by the Democrats.

*********************************

The majority of the country is highly dissatisfied with the Trump Tax Cut that was passed toward the end of December, 2017.  The Midterm Election will be held the first Tuesday in November 2018 and the new Congress will take office in January 2019.  Many current Republican members will not run for office in 2018.

 

The probability is that from January 21, 2019 either the Senate will achieve a Democratic majority or both Houses of Congress will do so.    If the Democrats gain control of the Senate they should be able to force the Republican House of Representatives to accept changes to the tax bills by adding amendments to all Republican bills.  Bills can deal with any number of subjects.

 

When these bills go to a Conference Committee the Democrats can refuse to allow the Republicans to remove these amendments from the original bills.  In this case the Republicans have a choice either to kill the bill or give in to the Democrats.  If the Democrats win both Houses of Congress then President Trump has the choice to approve Democratic bills in return for something Trump wants.  It seems also that the rules of the Senate have been changed limiting debate; there will be no filibustering to frustrate the Democrats.

The Weiner Component V.2 #46 – Results of the Trump Tax Bill

Everyone knows a bribe is illegal but a contribution to a political party is not.  The American political system requires a lot of contributions to successfully operate.  The House of Representatives has an election every two years; the President is elected every four years and the Senate every six years, one third of the body being elected every two years.  For a politician to get elected and stay in office he/she needs a massive and continuous campaign fund.  Consequently he/she and their party is always raising money.  Apparently the Republicans are today receiving very large contributions from very rich individuals and from large corporations.

 

The question remains: When does a contribution become a bribe?  Actually legally it never does; but large constitutions exert a lot of influence upon how a political party acts,

 

Individuals, companies and corporations directly or through lobbyists contribute money to both their favorite political party and to their favorite politicians.  If the contribution is large enough when does it affect the individual politician or the political party causing them to take on the political position of the contributor?  Apparently whatever that financial point is the Republican Party is strongly affected by it.

 

Most corporations meet with their shareholders once a year to have them vote on various issues.  Shareholders can raise questions at this time.  One of these tends to be: What is the amount being contributed to political parties?  The company always requests a no vote on this issue.  I have never seen the measure passed.  I suspect if it were passed it would be ignored.

 

When does a contribution become as big as a bribe?  Or is the Republican Party expecting to get a goodly percentage of the Trump tax reduction as contributions that the upper echelon and the corporations will be receiving?  It would seem that the Republicans are very good at integrating their beliefs with those of the money interests in the United States.

 

Actually it seems that the Republican Party is getting its share of the tax giveaways that are currently being applied to the wealthy.

**************************************

On Tuesday, December 19th the House of Representatives passed the final version of Trump’s Tax Reform Bill.  Paul Ryan and other House Republicans spoke with great enthusiasm about this 1,000 page Bill which essentially significantly lowered taxes for the economically upper few percent of the population and the large corporations.  This is a bill which no one really read in advance, was put together secretly, probably in the dead of night, had the majority of the population of the country strongly against it, and also had adjustments being made to it up until it was voted upon.  From what I understand a last minute addition was added which gave to real estate owners a tax pass through which would give these people millions of dollars in tax benefits.  Besides real estate owners throughout the country this positively affected Trump and a number of Senators.  The public and also most of the Republicans have yet to find out all the ramifications of this thousand page bill.

 

There was a minor technical glitch on the House version of the bill and they had to pass the Bill twice over a two day period.  Trump and his cohorts were congratulating one another over the wonderment of this bill, stating how it was for the middle class: how it would lower their taxes and create endless new jobs.  According to President Trump this was the greatest thing that has happened in this country in the last fifty years.

 

To the majority of Americans the Bill is vastly unpopular.  There were loud protests while the Bill came up on the Senate floor.  Some protestors were removed from the gallery.  There have been protests all over this country by millions of people against this Bill, many political offices throughout the nation have been invaded by individuals loudly protesting this Bill.

 

The Bill passed in the House of Representatives by a vote of 224 to 201 and in the Senate by a vote of 51 to 48.  The vote was along party lines; no Democrat voted for Trump’s so called Tax Reform.  In the House several Republicans voted against the Bill.  They came from states that had voted for Hillary Clinton in the Presidential Election.

 

The Bill drops the corporate tax rate from 35% to 21% and lowers the maximum rate paid by those earning over $418,000 from 39.6% to 37%.  It doubles the current rate charged on inheritances from 5.5 million dollars to 11 million dollars and repeals the inheritance tax after 2025. Apparently Trump expects to live for a long time.

 

It removes the requirement that requires everyone to either belong to a medical plan like Obamacare or pay a penalty.  This. In Trump’s opinion, kills the Affordable Care program.  Actually this allows many younger people to opt out of the program and subsequently forces the insurance companies to further raise their premiums.  Interestingly about 9 million new people have signed up for Obamacare.  The program is far from expiring.

 

At the last minute a measure was added for real estate owners to allow a portion of their profits to pass through their real estate investment.  The amount saved, by the one Republican Senator who was originally going to vote against the Bill from taxes, is over thirty thousand dollars.  It has been estimated that this will cost the government about 45 billion dollars in lost taxes.  This measure convinced this reluctant Republican Senator who is not running for reelection in 2018 to vote for the Bill.  It will profit him and the President.  In addition it will profit a number of Senators and real estate owners throughout the country.

 

The Bill allows oil drilling in the Arctic National Wildlife Refuge.  It is estimated that Trump’s Tax Reform will add 1.46 trillion dollars over the next decade to what is currently a National Debt of over 20 trillion dollars.  The Republicans do well at adding large amounts to the National Debt.

 

It should also be noted that as far as the Bill is concerned the tax cuts to the upper echelon and the corporations are permanent but those for the middle and lower class end in 2025.  Of course they can be made permanent by a subsequent Congress but that will grow the National Debt further.

************************************

The question arises: How permanent are all these changes?  Keep in mind that the Bill was passed in the Congress only by the votes of the Republican majorities in both Houses of Congress.  The majority of the population opposed the bill, many loudly and vociferously.  A midterm election is coming up on the first Tuesday of November 2018 and in January 2019 there will be a new Congress in Washington.

 

In addition the Bill passed in the Senate by 51 Republican votes to 48 Democratic and Independent votes.  Senator John McCain was not present; he was in a hospital in Arizona getting chemotherapy.  In Alabama a Democrat was just elected to the Senate who has not yet taken his Senatorial seat.  Instead a temporary replacement appointed Republican voted for the change.  This Democratic Senator would have changed the balance to 50 Republicans to 49 Democrats.  We don’t know how John McCain would have voted.  We do know that the Bill was crafted at night and much of its contents kept secret.

 

The probability is that over the next year the Republicans will attempt to reduce government costs by significantly reducing their spending on entitlement programs, programs for the poor and the middle class.  They may attempt to do away completely with Affordable Health Care by making it a state program with fixed reduced Federal grants.  And they may attempt to privatize Social Security.  The interesting thing here is that when Social Security was fixed in the 1980s and also had Medicare separated from it under President Ronald Reagan a lot more was paid into it than was needed.  The excess has traditionally been put into the General Fund and Social Security has been given a paper credit for that amount.  The paper credits added up today equal well over two trillion dollars of the National Debt.  If Social Security were privatized would this amount be added to the amount transferred to private enterprise or would it just be forgotten?

***************************************

The blatant cynicism within this bill by the Congressmen who had all taken an oath to the Constitution is appalling. These men are serving themselves first and the country second.  Many openly voted for a bill that would give them tax advantages.  Others like Paul Ryan, the Speaker of the House of Representatives, are highly ambitious.  Even though Ryan comes from a safe Republican area, I understand, he has chosen not to run in 2018; He is temporarily retiring from the government.  Alabama was a safe Republican state that elected a Democratic Senator.  Wisconsin could do the same.  Ryan would like to be President of the United States.  He ran with Mitt Romney in 2012 as Vice Presidential candidate.  If he retires in 2018 he can run in 2024 as the Republican Presidential candidate.

 

It has been suggested by a Republican Congressman that 2018 could be a political blood bath.  The Republicans have forced through Congress strictly on a party basis an unpopular tax reduction bill.  In 2018 they may try and possibly succeed in passing other unpopular bills.  Comes the first Tuesday in November they could easily lose their small majority in the Senate.  They could also lose their larger majority in the House of Representatives.  A lot of people are very angry with Trump and the Republican Party.  They will probably vote accordingly.

 

Virtually all of Trump’s Bill could be eradicated before the end of 2019.  From what I understand Paul Ryan, running for the Presidency in 2024 may have a platform of lowering taxes for rich individuals and large corporations.  That would, of course, be determined by the Democrats.

*********************************

The majority of the country is highly dissatisfied with the Trump Tax Cut that was passed toward the end of December, 2017.  The Midterm Election will be held the first Tuesday in November 2018 and the new Congress will take office in January 2019.  Many current Republican members will not run for office in 2018.

 

The probability is that from January 21, 2019 either the Senate will achieve a Democratic majority or both Houses of Congress will do so.    If the Democrats gain control of the Senate they should be able to force the Republican House of Representatives to accept changes to the tax bills by adding amendments to all Republican bills.  Bills can deal with any number of subjects.

 

When these bills go to a Conference Committee the Democrats can refuse to allow the Republicans to remove these amendments from the original bills.  In this case the Republicans have a choice either to kill the bill or give in to the Democrats.  If the Democrats win both Houses of Congress then President Trump has the choice to approve Democratic bills in return for something Trump wants.  It seems also that the rules of the Senate have been changed limiting debate; there will be no filibustering to frustrate the Democrats.

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