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Author Topic:   The Trump Presidency
dwise1
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Posts: 4366
Joined: 05-02-2006
Member Rating: 5.2


Message 4366 of 4415 (882832)
10-19-2020 4:43 PM
Reply to: Message 1295 by ramoss
10-06-2017 9:35 PM


Re: The Proposed Tax Cuts Make No Fiscal Sense
Sorry for the delay in replying. I found this while looking for my estimations of the effects of the Great GOP Tax Scam of 2017.

INdeed, part of the proposal is eliminating the tax deduction for local and state taxes in the federal income tax form. That is what is known as 'a tax raise on the middle class'.

A classic example of the old "shell game". They "gave us double of something" while taking away something else of nearly as high a value. Yeah, we a little bit more, which amounts to a few table scraps.

Remembering off the top of my head, they doubled the standard deduction, while at the same time eliminating the personal deduction. In another message on this forum, I crunched through the numbers to show just how that worked but I don't know where that is (I seem to recall that Percy and I went back and forth on that at the time). At the same time they got rid of the old dependent deductions and replaced it with some other kind of credit, but I don't have the personal experience to comment on how that had screwed us over.


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PaulK
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Posts: 16631
Joined: 01-10-2003
Member Rating: 3.1


Message 4367 of 4415 (882837)
10-20-2020 5:17 AM


The Foxconn failure in Wisconsin
In 2017 Wisconsin struck a deal with Foxconn (a Taiwanese company, noted for assembling iPhones) to build a large LCD manufacturing plant. Trump hailed it as the Eighth Wonder of the World.

Three years later Foxconn has delivered very little in the way of jobs - and likely never will.

The Verge reports.

The building Foxconn calls an LCD factory — about 1/20th the size of the original plan — is little more than an empty shell. In September, Foxconn received a permit to change its intended use from manufacturing to storage.

Even the handful of jobs the company claims to have created are less than real: many of them held by people with nothing to do, hired so the company could reach the number required for it to get tax subsidy payments from Wisconsin.

It was not a good deal - for the state - even if it had worked out:

In a best-case scenario, the Legislative Fiscal Bureau found the state wouldn’t break even until 2043.

Of course it was great for the Republicans- big promises of thousands of hi-tech jobs and huge investment.

People were practically forced out of their homes - for nothing.

Residents were pushed from their homes under threat of eminent domain and dozens of houses bulldozed to clear property Foxconn doesn’t know what to do with.

Since the agreement the governorship has changed hands. But rather than taking responsibility for their disaster the Republicans - in state and in Washington - are trying to stifle investigation and cast blame elsewhere.

Much more in the story.


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dwise1
Member
Posts: 4366
Joined: 05-02-2006
Member Rating: 5.2


Message 4368 of 4415 (882839)
10-20-2020 5:31 AM
Reply to: Message 4367 by PaulK
10-20-2020 5:17 AM


Re: The Foxconn failure in Wisconsin
Here's a thought that keeps coming back to me.

Everybody keeps complaining about US manufacturing jobs going overseas. OK.

Many also complain about so many regulations making things harder for industry "driving jobs overseas".

Many also mindlessly support the idea of "free enterprise".

What nobody seems to understand is that it is exactly that "free enterprise" freed of regulations that is sending our manufacturing jobs overseas.

All that too many companies care about is the bottom line. If they can save a few pennies per unit by manufacturing those units overseas and then shipping them here, then they will choose that option. When there is no economic benefit to keeping manufacturing jobs in the US, then those jobs will go overseas. This ain't rocket science.

The only way to get companies to keep jobs in the US is to force them to do so. That is done through regulation. Yes, such regulations will make it harder for those companies to make a profit, but if that is what we need to do to keep those jobs in the US, then that is what we need to do.

So what do you want? Keep jobs in the US or have free enterprise freed of regulations? You cannot have both. Make up your mind.


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nwr
Member
Posts: 5631
From: Geneva, Illinois
Joined: 08-08-2005
Member Rating: 5.0


(2)
Message 4369 of 4415 (882840)
10-20-2020 8:29 AM
Reply to: Message 4367 by PaulK
10-20-2020 5:17 AM


Re: The Foxconn failure in Wisconsin
But rather than taking responsibility for their disaster the Republicans - in state and in Washington - are trying to stifle investigation and cast blame elsewhere.

I'll give credit to Trump for one thing. He has unmasked the Republicans. It is now quite clear how evil they are, and how evil they have been for some time.

Fundamentalism - the anti-American, anti-Christian branch of American Christianity

This message is a reply to:
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Replies to this message:
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vimesey
Member
Posts: 1189
From: Birmingham, England
Joined: 09-21-2011
Member Rating: 5.5


Message 4370 of 4415 (882841)
10-20-2020 10:24 AM
Reply to: Message 4369 by nwr
10-20-2020 8:29 AM


Re: The Foxconn failure in Wisconsin
Sadly, they (and other populists around the world) have learned that all you need to do is re-brand. Call evil "freedom loving," and the rubes will vote you in.

Could there be any greater conceit, than for someone to believe that the universe has to be simple enough for them to be able to understand it ?

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ringo
Member
Posts: 18822
From: frozen wasteland
Joined: 03-23-2005
Member Rating: 2.9


Message 4371 of 4415 (882842)
10-20-2020 12:08 PM
Reply to: Message 4370 by vimesey
10-20-2020 10:24 AM


Re: The Foxconn failure in Wisconsin
Vimesey writes:

Call evil "freedom loving," and the rubes will vote you in.


Call your product "natural" and the rubes will eat uranium.

"I've been to Moose Jaw, now I can die." -- John Wing

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jar
Member
Posts: 33019
From: Texas!!
Joined: 04-20-2004
Member Rating: 3.1


Message 4372 of 4415 (882843)
10-20-2020 12:49 PM
Reply to: Message 4367 by PaulK
10-20-2020 5:17 AM


Re: The Foxconn failure in Wisconsin
But Foxconn was not a failure. It accomplished its purpose and moved public money into private hands and will simply leave the City, State and most importantly the middle class who needed the jobs the poorer.

It was a classic success.


My Sister's Website: Rose Hill Studios     My Website: My Website

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dwise1
Member
Posts: 4366
Joined: 05-02-2006
Member Rating: 5.2


(2)
Message 4373 of 4415 (882844)
10-20-2020 4:46 PM
Reply to: Message 4372 by jar
10-20-2020 12:49 PM


Re: The Foxconn failure in Wisconsin
Reminds me of a radio interview I heard a few years ago with a New England business/economy reporter.

He described the situation in a small town in New Hampshire, as I recall, that had lost its main industry which was lumber. Instead of just folding up, they set up their local bank and had their local stores and were able to keep going even though it was a struggle. They could do it because they kept their money in the community and circulating within the community.

Then a chain opened in town. I seem to recall that it was a MacDonald's, but it could just as well have been a Walmart. So now instead of keeping the profits within the community, those profits were leaving town to corporate headquarters and the community started to fail.


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FLRW
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Posts: 54
Joined: 10-08-2007
Member Rating: 3.1


(1)
Message 4374 of 4415 (882848)
10-21-2020 10:51 AM
Reply to: Message 4369 by nwr
10-20-2020 8:29 AM


Re: The Foxconn failure in Wisconsin
The Trump presidency was predicted 100 years ago by H L Mencken.
“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

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AZPaul3
Member
Posts: 5404
From: Phoenix
Joined: 11-06-2006
Member Rating: 4.4


Message 4375 of 4415 (882908)
10-24-2020 6:24 PM


Who's WHO?
The stupid in this president is strong.


Factio Republicana delenda est.
I am antifa.

  
PaulK
Member
Posts: 16631
Joined: 01-10-2003
Member Rating: 3.1


(1)
Message 4376 of 4415 (883181)
11-12-2020 3:11 AM


Trump, a scammer to the end
Reuters

Trump is raising funds to support his efforts fight Biden’s victory. Except that a lot of the money will go elsewhere.

A donor would have to give more than $8,000 before any money goes to the “recount account” established to finance election challenges, including recounts and lawsuits over alleged improprieties

And where does that money really go?

A large portion of the money goes to “Save America,” a Trump leadership PAC, or political action committee, set up on Monday, and the Republican National Committee (RNC).

Supporters argue that the money is going to a cause that the donors would be happy with. To which I say - why hide it in the small print? Small donors won’t see ANY of their money going to the headline “cause”.

And is it even true?

A 2018 report by the Campaign Legal Center and Issue One, two groups that advocate campaign finance reform, said some leadership PACs have been used as vehicles to “subsidize lavish lifestyles” of politicians “on their donors’ dimes.”

Let’s also note that Trump has some big debts coming due next year, and potential trouble with lenders.

The Republican Party in North Carolina is running a similar scam. Trump is winning there, so they certainly don’t intend to ask for recounts. (Of course, North Carolina is the State with the most serious examples of electoral fraud to occur in recent years, but the Republicans won’t want to talk about that either.)


Replies to this message:
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jar
Member
Posts: 33019
From: Texas!!
Joined: 04-20-2004
Member Rating: 3.1


Message 4377 of 4415 (883182)
11-12-2020 6:55 AM
Reply to: Message 4376 by PaulK
11-12-2020 3:11 AM


Re: Trump, a scammer to the end
A grifter's gotta grift.

My Sister's Website: Rose Hill Studios     My Website: My Website

This message is a reply to:
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Replies to this message:
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PaulK
Member
Posts: 16631
Joined: 01-10-2003
Member Rating: 3.1


(1)
Message 4378 of 4415 (883183)
11-12-2020 12:12 PM
Reply to: Message 4377 by jar
11-12-2020 6:55 AM


Re: Trump, a scammer to the end
It explains why the lawsuits are so unremittingly awful. They are just theatre to convince the marks to fork up - when their money won’t even be used for that. The RNC get their cut, the rest likely goes into Trump’s pocket.

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dwise1
Member
Posts: 4366
Joined: 05-02-2006
Member Rating: 5.2


Message 4379 of 4415 (883184)
11-12-2020 11:36 PM
Reply to: Message 4378 by PaulK
11-12-2020 12:12 PM


Re: Trump, a scammer to the end
Well just look at the pattern.

He never wanted an actual Ukrainian investigation, just the mere announcement of an investigation.

Trump never ever wants any actual investigation of anything, only the announcement of an investigation.

Reminds me of an old dirty joke that I don't quite remember from nearly half a century ago. A woman who's been married three times visits the doctor and he's surprised to find that she's still a virgin. Her first two husbands were some kind of emergency responders who were always away. Her third husband was a salesman who always spent all night selling her on how great it was going to be, but then never ever delivering on his promises.

Sounds oddly familiar, doesn't it?


This message is a reply to:
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AZPaul3
Member
Posts: 5404
From: Phoenix
Joined: 11-06-2006
Member Rating: 4.4


Message 4380 of 4415 (883200)
11-15-2020 1:55 AM



Factio Republicana delenda est.
I am antifa.

Replies to this message:
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