Having lied to get into the Oval Office, it's no surprise that the new tax bill will not be beneficial to the Middle Class as being trumpeted. I wonder when the sheeple will wake up.
Q: Who will benefit from the tax bill as currently designed?
A: Trump and others with large real estate holdings.
http://www.zerohedge.com/news/2017-12-1 ... mple-chart
Why Bob Corker Flipped To A 'Yes' On Tax Reform In One Simple Chart
Dec 18, 2017 9:55 AM
Authored by Mike Shedlock via www.themaven.net/mishtalk,
Senator Bob Corker, the lone Republican voting against the tax bill suddenly changed his mind. Why?
On December 1 Senator Corker made this statement:
"But at the end of the day, I am not able to cast aside my fiscal concerns and vote for legislation that I believe, based on the information I currently have, could deepen the debt burden on future generations."
Today Corker Tweets:
View image on Twitter
View image on Twitter
Senator Bob Corker
✔
@SenBobCorker
See my statement on my support for tax reform legislation:
2:23 PM - Dec 15, 2017
15,713 15,713 Replies 725 725 Retweets 1,926 1,926 likes
Twitter Ads info and privacy
Senator Corker denies allegations of the "Corker Kickback".
Corker initially told IBT that the new provision “sounds totally unnecessary and borderline ridiculous” but later admitted he doesn’t “really know what the provision does to be honest. I would need an accountant to explain it.” Last year, Corker made up to $7 million from real estate pass through companies he owns.
His story, however, hit a snag when Sen. John Cornyn (R-TX), the Senate Majority Whip, told ABC News that the provision that benefits real estate investors was added as part of an effort to “cobble together the votes we needed to get this bill passed.”
When asked if the provision was added specifically to secure Corker’s vote, Cornyn dodged the question.
Corker Kickback Tweets
Ted Lieu
✔
@tedlieu
I can understand @SenBobCorker flipping his vote if new tax bill addressed why he voted NO, which was the deficit exploding. But the new tax bill doesn't address his deficit concern. That's why the #CorkerKickBack provision is so troubling. Looks like straight up self-enrichment. https://twitter.com/davidsirota/status/ ... 6774076417 …
8:12 PM - Dec 17, 2017
939 939 Replies 13,733 13,733 Retweets 22,435 22,435 likes
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David Sirota
✔
@davidsirota
This is a truly rare moment in American politics -- the senator at the center of the #CorkerKickback scandal is facing a national firestorm & is now publicly demanding answers from his own party -- and he's doing it hours before he could sink the entire tax bill. THIS IS BIG NEWS https://twitter.com/davidsirota/status/ ... 4198120448 …
10:26 PM - Dec 17, 2017
110 110 Replies 1,712 1,712 Retweets 2,335 2,335 likes
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Red T Raccoon
@RedTRaccoon
Tennessee is one of the states that suffers from some of the worst poverty in our country
Yet the #CorkerKickback will put money into the pockets of their Senator.
This is a message to anyone living in Tennessee
Help us #StopGOPTaxScam by calling Sen Corker at 1-202-224-3121
7:50 PM - Dec 17, 2017
260 260 Replies 5,843 5,843 Retweets 5,753 5,753 likes
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Matthew Chapman
✔
@fawfulfan
“I demand to know how all this jewelry was crammed into my pocket before I left the store without paying for it!” #CorkerKickback https://twitter.com/thehill/status/942598557621800961 …
9:39 PM - Dec 17, 2017
280 280 Replies 4,917 4,917 Retweets 9,026 9,026 likes
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My Position
My position has been clear from the beginning. I benefit personally from this bill thanks to pass-through provisions. But I do not support this bill.
Corker to Vote Yes on Tax Bill Following Revision Giving Him a Break
Who Benefits? Me!
As I noted before, I benefit from this legislation, but not because of real estate. 100% of my income is pass-through.
Unlike Corker, I am not changing my opinion. I think this bill, which adds $1.5 trillion in debt while doing virtually nothing to spur investment or jobs, is grossly beneficial to the wealthy.
To voice your displeasure at unprecedented greed, please see Upset About the One-Sided Tax Bill? Here's What to Do About It!.
Trump, the Tax Traitor
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Silver
- Level 34 Illuminated
- Posts: 5247
Re: Trump, the Tax Traitor
The good thing about Washington politics is that we can't pay attention to being debt slaves for very long because the War Party gets us in a war that requires all our patriotism and "I Support The Troops!" bumperstickers.
HR McMaster has puppet-stringed The Marmalade In Chief into talking like a faithful little neocon.
https://www.cfr.org/membership-roster-l-p (search for McMaster on the list...surprise!)
http://www.zerohedge.com/news/2017-12-1 ... ity-strate (a link for understanding what the warmongers plan)
HR McMaster has puppet-stringed The Marmalade In Chief into talking like a faithful little neocon.
https://www.cfr.org/membership-roster-l-p (search for McMaster on the list...surprise!)
http://www.zerohedge.com/news/2017-12-1 ... ity-strate (a link for understanding what the warmongers plan)
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Silver
- Level 34 Illuminated
- Posts: 5247
Re: Trump, the Tax Traitor
And where did the Marmalade make a big chunk of his money? Real estate.
What kind of business does Cadre do? Real Estate.
Cadre is owned by President Jared Kushner who was the very fortunate recipient of $200+ Million from George Soros. Ain't life grand when you've got connections to money?
http://www.zerohedge.com/news/2017-12-1 ... d-tax-bill
The Full List Of Every GOP Senator Who Stands To Be Personally Enriched By The Tax Bill
Dec 19, 2017 10:11 AM
Submitted by David Sirota of International Business Times
When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to federal records reviewed by International Business Times.
The provision was not in the original bill passed by the Senate on Dec. 1. It was embedded in the final bill by Sen. Orrin Hatch of Utah, who is among the lawmakers that stand to personally benefit from the provision.
In response to Democratic lawmakers who have slammed the provision as a lobbyist-sculpted giveaway to the rich, Republican Majority Whip John Cornyn promoted on Twitter a column by Ryan Ellis, a registered bank lobbyist who has been working to influence the tax legislation and who has defended the provision.
In all, 14 Republican senators (see list below) hold financial interests in 26 income-generating real-estate partnerships — worth as much as $105 million in total. Those holdings together produced between $2.4 million and $14.1 million in rent and interest income in 2016, according to federal records.
IBT first reported on the tax carve-out, which allows investors in “pass-through” entities, including real-estate partnerships such as LLCs and LPs, with few employees to deduct part of their income that passes through those partnerships. In response to IBT’s reporting, Republican Sen. Bob Corker, who owns up to $35 million in “pass-through” real-estate interests, claimed he did not know of the carve-out when he announced his support for the legislation on Friday, after previously casting the only Republican vote against the bill in the Senate, which did not then include the provision.
In the face of a Twitter-trending hashtag #CorkerKickback, Corker has been vociferously defended by Liam Donovan, a registered lobbyist for the construction and real estate industry who is lobbying Congress on tax reform and specifically on “pass-through rates,” according to federal records.
While Republicans have argued the House version of the bill contained the controversial provision, experts have told IBT the provision appeared in the legislation only after the bill was finalized during House-Senate Conference Committee deliberations.
“The mechanism is completely new and can’t be found in any prior version of the bill,” Matt Gardner, a senior fellow at the Institute of Economics and Tax Policy, previously told IBT.
Because the provision was added by the conference committee, it is “unlikely to have been fully priced into the revenue estimate, because the new provision was never subject to the benefits of crowdsourced analysis of all its implications,” University of Southern California law professor Edward Kleinbard told IBT.
GOP senators Cornyn, Alexander, Barrasso
GOP senators will vote on a tax bill with a real estate tax break that would benefit
14 of them. Sens. Lamar Alexander, John Cornyn and John Barrasso
Corker, the Senate’s fourth richest member in 2015, with an estimated net worth of over $69 million, reported the highest 2016 income from real-estate partnerships — up to $7 million — among GOP senators. His income came from three properties held by LLCs that together were worth as much as $35 million. Montana Sen. Steve Daines, whose estimated net worth was $14.4 million in 2015, reported earning between $425,000 and $4.2 million last year in rental income from eight properties managed by Genesis LLC. Daines, with Wisconsin Sen. Ron Johnson, pushed for a more generous tax deduction for pass-through entities during the Senate tax bill process.
Other top earners were Johnson and Tennessee Sen. Lamar Alexander, who both earned as much as $1 million in 2016 from real estate pass-through vehicles.
Elaine Hatch, the wife of the chairman of the Senate Finance Committee who said Monday that he wrote the real-estate tax break and disputed IBT’s report that the provision had not been in previous versions of the bill, owns a stake in a real-estate LLC worth up to $500,000 that generated between $5,000 and $15,000 of income from rent/royalties, interest and capital gains in 2016.
Several of these senators were also top recipients of campaign cash from the real estate industry during the 2016 election cycle. Ohio Sen. Rob Portman’s campaign took in over $900,000 from real estate industry PACs and individuals; Johnson received roughly $780,000; and Georgia Sen. Johnny Isakson got $520,000 from the industry.
Beyond Republican senators, other major beneficiaries of the provision could be President Donald Trump, who owns or directs over 560 companies, most of which are LLCs or LPs. Democrats in recent days have seized on the provision — and its potential benefits to Republican lawmakers — in demanding the bill be halted.
“President Trump made several promises to the American people on tax reform, including the assurance that his tax proposal wouldn’t enrich people like him,” Democratic U.S. Sen. Tom Carper of Delaware told IBT in an emailed statement. “Unfortunately, Republicans are rushing through a tax plan that does indeed enrich the wealthiest people in our country, including business-owners like Mr. Trump. It’s regrettable and, frankly, shameful that my Republican colleagues are rushing ahead with their partisan tax bill despite the mounting questions and concerns about its provisions.”
What kind of business does Cadre do? Real Estate.
Cadre is owned by President Jared Kushner who was the very fortunate recipient of $200+ Million from George Soros. Ain't life grand when you've got connections to money?
http://www.zerohedge.com/news/2017-12-1 ... d-tax-bill
The Full List Of Every GOP Senator Who Stands To Be Personally Enriched By The Tax Bill
- senators-real-estate.jpg (65.34 KiB) Viewed 190 times
Submitted by David Sirota of International Business Times
When the U.S. Senate takes up the final tax bill this week, more than a quarter of all GOP senators will be voting on a bill that includes a special provision that could give them a new tax cut through their real estate shell companies, according to federal records reviewed by International Business Times.
The provision was not in the original bill passed by the Senate on Dec. 1. It was embedded in the final bill by Sen. Orrin Hatch of Utah, who is among the lawmakers that stand to personally benefit from the provision.
In response to Democratic lawmakers who have slammed the provision as a lobbyist-sculpted giveaway to the rich, Republican Majority Whip John Cornyn promoted on Twitter a column by Ryan Ellis, a registered bank lobbyist who has been working to influence the tax legislation and who has defended the provision.
In all, 14 Republican senators (see list below) hold financial interests in 26 income-generating real-estate partnerships — worth as much as $105 million in total. Those holdings together produced between $2.4 million and $14.1 million in rent and interest income in 2016, according to federal records.
IBT first reported on the tax carve-out, which allows investors in “pass-through” entities, including real-estate partnerships such as LLCs and LPs, with few employees to deduct part of their income that passes through those partnerships. In response to IBT’s reporting, Republican Sen. Bob Corker, who owns up to $35 million in “pass-through” real-estate interests, claimed he did not know of the carve-out when he announced his support for the legislation on Friday, after previously casting the only Republican vote against the bill in the Senate, which did not then include the provision.
In the face of a Twitter-trending hashtag #CorkerKickback, Corker has been vociferously defended by Liam Donovan, a registered lobbyist for the construction and real estate industry who is lobbying Congress on tax reform and specifically on “pass-through rates,” according to federal records.
While Republicans have argued the House version of the bill contained the controversial provision, experts have told IBT the provision appeared in the legislation only after the bill was finalized during House-Senate Conference Committee deliberations.
“The mechanism is completely new and can’t be found in any prior version of the bill,” Matt Gardner, a senior fellow at the Institute of Economics and Tax Policy, previously told IBT.
Because the provision was added by the conference committee, it is “unlikely to have been fully priced into the revenue estimate, because the new provision was never subject to the benefits of crowdsourced analysis of all its implications,” University of Southern California law professor Edward Kleinbard told IBT.
GOP senators Cornyn, Alexander, Barrasso
GOP senators will vote on a tax bill with a real estate tax break that would benefit
14 of them. Sens. Lamar Alexander, John Cornyn and John Barrasso
Corker, the Senate’s fourth richest member in 2015, with an estimated net worth of over $69 million, reported the highest 2016 income from real-estate partnerships — up to $7 million — among GOP senators. His income came from three properties held by LLCs that together were worth as much as $35 million. Montana Sen. Steve Daines, whose estimated net worth was $14.4 million in 2015, reported earning between $425,000 and $4.2 million last year in rental income from eight properties managed by Genesis LLC. Daines, with Wisconsin Sen. Ron Johnson, pushed for a more generous tax deduction for pass-through entities during the Senate tax bill process.
Other top earners were Johnson and Tennessee Sen. Lamar Alexander, who both earned as much as $1 million in 2016 from real estate pass-through vehicles.
Elaine Hatch, the wife of the chairman of the Senate Finance Committee who said Monday that he wrote the real-estate tax break and disputed IBT’s report that the provision had not been in previous versions of the bill, owns a stake in a real-estate LLC worth up to $500,000 that generated between $5,000 and $15,000 of income from rent/royalties, interest and capital gains in 2016.
Several of these senators were also top recipients of campaign cash from the real estate industry during the 2016 election cycle. Ohio Sen. Rob Portman’s campaign took in over $900,000 from real estate industry PACs and individuals; Johnson received roughly $780,000; and Georgia Sen. Johnny Isakson got $520,000 from the industry.
Beyond Republican senators, other major beneficiaries of the provision could be President Donald Trump, who owns or directs over 560 companies, most of which are LLCs or LPs. Democrats in recent days have seized on the provision — and its potential benefits to Republican lawmakers — in demanding the bill be halted.
“President Trump made several promises to the American people on tax reform, including the assurance that his tax proposal wouldn’t enrich people like him,” Democratic U.S. Sen. Tom Carper of Delaware told IBT in an emailed statement. “Unfortunately, Republicans are rushing through a tax plan that does indeed enrich the wealthiest people in our country, including business-owners like Mr. Trump. It’s regrettable and, frankly, shameful that my Republican colleagues are rushing ahead with their partisan tax bill despite the mounting questions and concerns about its provisions.”
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Silver
- Level 34 Illuminated
- Posts: 5247
Re: Trump, the Tax Traitor
Here's our future, if Trump and his warmongers don't kill us all first. Who knows immediately who Jerome Powell is? What a dilemma for the lemmings following The Marmalade. If Trump were truly anti-Deep State, he wouldn't appoint Jerome as Janet's successor. No, he would abolish the Federal Reserve completely.
So here's the Word of the Day for those who still have a fantasy about Trump making America great again: Controlled Opposition (OK, that was two words. Consider the extra word a gift from me, for the children.)
http://www.zerohedge.com/news/2017-12-1 ... -venezuela
"It's Not Politics, It's Survival" - Bitcoin, Local Currencies Are Taking Over In Venezuela
by Tyler Durden
Dec 19, 2017 8:00 PM
Anybody who believes that central banks are essential pillars of economic stability that deserve the untrammeled authority to issue currencies, which they presently enjoy, should take a close look at what’s happening in Venezuela.
Central bankers have tended to dismiss the notion of private currencies as an idea embraced only by techno-libertarian wingnuts (they have invariably described bitcoin as a “store of value” that’s “not yet big enough to threaten the economy."
But in Venezuela, the collapse of the bolivar has forced locals to turn to alternatives like bitcoin and local community-issued currencies with fixed exchange rates. The rapid erosion of the bolivar’s value made everyday transactions like buying groceries and paying cabbies untenable - customers had to pay with large, cumbersome stacks of bolivars that were difficult to transport.
Patricia Laya, a Venezuela-based reporter, tweeted a photo of the 5,000 bolivars - the maximum amount - she was able to withdraw from an ATM in Caracas. They're worth around $0.05. Laya stated that she had waited 20 minutes in line to obtain $0.05 in hyperinflated currency worth little to no value, according to CCN.
Even though bitcoin transactions can take hours - even days - to settle, local merchants have readily embraced the digital currency.
View image on Twitter
View image on Twitter
Patricia Laya
✔
@PattyLaya
Spent around 20 minutes in line at the ATM this morning to get a max of 5,000 Bolivars. That's about $0.05
7:29 AM - Dec 7, 2017
23 23 Replies 161 161 Retweets 226 226 likes
Twitter Ads info and privacy
A Venezuelan student named John Villar said he uses bitcoin more than bolivars because it’s literally the only viable option.
“This is not a matter of politics. This is a matter of survival,” said Villar.
Villar said he has bought two plane tickets to Colombia, his wife’s medication, and paid his employees with bitcoin in the past month. Villar emphasized that he intends to continue utilizing bitcoin like the majority of Venezuelans, according to CCN.
In Venezuela, the majority of the population has lost trust in the government, the central bank and the banking system, which has clearly helped predispose Venezuelans to bitcoin.
In addition to bitcoin, communities are beginning to launch local currencies, the revival of an idea that the late Hugo Chavez became a proponent of late in life where Venezuela would adopt a series of 10 community currencies like the ones currently being issued by pro-government forces.
In one Caracas neighborhood, several shops have started accepting the panal, according to the Associated Press.
The panal, which means honeycomb in Spanish, can be spent in just a few stores. But residents of one neighborhood desperate for spending cash said they welcome the idea proposed by pro-government groups.
"There is no cash on the street," said Liset Sanchez, a 36-year-old housewife who plans to use her freshly printed panals to buy rice for her family. "This currency is going to be a great help for us."
Amid triple-digit inflation and a currency meltdown, there has been a run on cash in Venezuela.
Buying common items such as toilet paper, or paying a taxi driver, requires stacks of the official currency, called the bolivar.
To be sure, not everybody agrees that these alternative currencies are necessary or even helpful.
Jose Guerra, an opposition politician, knocked the idea of an alternative currency, arguing that having multiple currencies could add "monetary chaos" to the ongoing economic crisis. Perhaps Guerra has never been faced with the prospect of either starving or finding an alternative means of procuring food.
Indeed, President Nicolas Maduro inadvertently helped validate bitcoin - even though his government is cracking down on bitcoin miners - by announcing that the country would adopt a national digital currency called the petro, similar to bitcoin, to replace the bolivar. He has offered few additional details about the plan, however.
So here's the Word of the Day for those who still have a fantasy about Trump making America great again: Controlled Opposition (OK, that was two words. Consider the extra word a gift from me, for the children.)
http://www.zerohedge.com/news/2017-12-1 ... -venezuela
"It's Not Politics, It's Survival" - Bitcoin, Local Currencies Are Taking Over In Venezuela
by Tyler Durden
Dec 19, 2017 8:00 PM
Anybody who believes that central banks are essential pillars of economic stability that deserve the untrammeled authority to issue currencies, which they presently enjoy, should take a close look at what’s happening in Venezuela.
Central bankers have tended to dismiss the notion of private currencies as an idea embraced only by techno-libertarian wingnuts (they have invariably described bitcoin as a “store of value” that’s “not yet big enough to threaten the economy."
But in Venezuela, the collapse of the bolivar has forced locals to turn to alternatives like bitcoin and local community-issued currencies with fixed exchange rates. The rapid erosion of the bolivar’s value made everyday transactions like buying groceries and paying cabbies untenable - customers had to pay with large, cumbersome stacks of bolivars that were difficult to transport.
Patricia Laya, a Venezuela-based reporter, tweeted a photo of the 5,000 bolivars - the maximum amount - she was able to withdraw from an ATM in Caracas. They're worth around $0.05. Laya stated that she had waited 20 minutes in line to obtain $0.05 in hyperinflated currency worth little to no value, according to CCN.
Even though bitcoin transactions can take hours - even days - to settle, local merchants have readily embraced the digital currency.
View image on Twitter
View image on Twitter
Patricia Laya
✔
@PattyLaya
Spent around 20 minutes in line at the ATM this morning to get a max of 5,000 Bolivars. That's about $0.05
7:29 AM - Dec 7, 2017
23 23 Replies 161 161 Retweets 226 226 likes
Twitter Ads info and privacy
A Venezuelan student named John Villar said he uses bitcoin more than bolivars because it’s literally the only viable option.
“This is not a matter of politics. This is a matter of survival,” said Villar.
Villar said he has bought two plane tickets to Colombia, his wife’s medication, and paid his employees with bitcoin in the past month. Villar emphasized that he intends to continue utilizing bitcoin like the majority of Venezuelans, according to CCN.
In Venezuela, the majority of the population has lost trust in the government, the central bank and the banking system, which has clearly helped predispose Venezuelans to bitcoin.
In addition to bitcoin, communities are beginning to launch local currencies, the revival of an idea that the late Hugo Chavez became a proponent of late in life where Venezuela would adopt a series of 10 community currencies like the ones currently being issued by pro-government forces.
In one Caracas neighborhood, several shops have started accepting the panal, according to the Associated Press.
The panal, which means honeycomb in Spanish, can be spent in just a few stores. But residents of one neighborhood desperate for spending cash said they welcome the idea proposed by pro-government groups.
"There is no cash on the street," said Liset Sanchez, a 36-year-old housewife who plans to use her freshly printed panals to buy rice for her family. "This currency is going to be a great help for us."
Amid triple-digit inflation and a currency meltdown, there has been a run on cash in Venezuela.
Buying common items such as toilet paper, or paying a taxi driver, requires stacks of the official currency, called the bolivar.
To be sure, not everybody agrees that these alternative currencies are necessary or even helpful.
Jose Guerra, an opposition politician, knocked the idea of an alternative currency, arguing that having multiple currencies could add "monetary chaos" to the ongoing economic crisis. Perhaps Guerra has never been faced with the prospect of either starving or finding an alternative means of procuring food.
Indeed, President Nicolas Maduro inadvertently helped validate bitcoin - even though his government is cracking down on bitcoin miners - by announcing that the country would adopt a national digital currency called the petro, similar to bitcoin, to replace the bolivar. He has offered few additional details about the plan, however.
-
Silver
- Level 34 Illuminated
- Posts: 5247
Re: Trump, the Tax Traitor
Remember this lie: Most people will be able to file their taxes on a post card.
