its only important that you file your taxes... Trump Asks For More Time To File His Taxes https://www.npr.org/2018/04/17/603309868/trump-asks-for-more-time-to-file-his-taxes
Well, we know who did enjoy their tax cuts... Big banks saved $3.6 billion in taxes last quarter under new law https://www.cnbc.com/2018/04/20/big...lion-in-taxes-last-quarter-under-new-law.html Big Wall Street Banks Saved Over $3.5 Billion Under Trump Tax Law https://www.thedailybeast.com/big-wall-street-banks-saved-over-dollar35-billion-under-trump-tax-law Thanks to Trump, the big Wall Street banks saved $3.6 billion in taxes last quarter under new law http://www.stltoday.com/business/lo...cle_7bf87a53-c758-5127-8107-bb875a2fe3e5.html
Duped. And now trump is out there again, trying to help the 1%ers even more... Trump said this tax break was for small businesses. It’s giving $17 billion to millionaires this year. https://www.vox.com/policy-and-politics/2018/4/24/17275720/pass-throughs-tax-cut-bill
My Co had our Q1 town hall the other day, and went through financials. Our CFO announced that the cuts to the tax cut they got were going towards paying down debt. So basically the corporate cut went to the big banks on wall street who owns us essentially & the equity partners who are their middle man. Our co. is a 200 million dollar company. The sort of mid-market type of company with middle class earning workers that Trump would lead you to believe he represents. Seriously... F the GOP. You've made my life worse financially more than a few times. If you're not a millionaire you really just have no reason at all in financial self interest to EVER vote Republican.... unless you want to work in a coal mine I guess.
MARCO RUBIO: There's 'no evidence whatsoever' that Trump's tax bill has helped American workers http://www.businessinsider.com/marco-rubio-trump-gop-tax-law-hasnt-helped-2018-4
DJ Trump and the Republican Congress passed the tax reform featuring Corporate tax rate cut from 36% to 25%; their spin was increased corporate profit will translate to higher pay for workers. empirical evidence, thus far, indicate that it is not true. The GW Bush admin could have told them that; W had effected a tax cut and the avg hourly wage didn't go up as hyped hitting the nail on the head, and is being corroborated by empirical evidence. since that DJ Trump Corporate welfare was passed, we've had 3 month job reports and one quarterly earnings reports by Corporations. Corporate profits are near historic highs; many corp are using their profit to buy back company stocks. Corporations are reporting that they continue to have difficulty hiring qualified people. w a shortage of qualified workers, one would expect the avg hourly to jump higher. that has not been the case. April jobs created ~ 160K, unemployed ~ 3.9%; wage gains, tallied 0.1% over the prior month and 2.6% over the same month last year in April. In view of the fact that the 10-yr treasury yield, a surrogate for inflation, has been hovering around 2.9%. it means that workers are not able to keep up with inflation thus, the wealth gap continues to widen https://finance.yahoo.com/news/us-jobs-report-april-2018-091149623.html
Trickle... UP. Trump, the corporate populist. Tax cut sparks record-setting $178 billion buyback boom http://money.cnn.com/2018/05/20/investing/stocks-week-ahead-buybacks-tax-cuts/index.html It's raining buybacks: Corporate America is throwing a record-setting party for shareholders. S&P 500 companies showered Wall Street with at least $178 billion of stock buybacks during the first three months of 2018, according to Howard Silverblatt of S&P Dow Jones Indices. That's a 34% bump from last year and tops the prior record of $172 billion set in 2007, just prior to the start of the Great Recession. Apple (AAPL) rewarded shareholders with $22.8 billion in buybacks -- the most of any company in any quarter ever. Total S&P 500 shareholder payouts -- buybacks plus dividends -- for the past 12 months could top $1 trillion for the first time ever, Silverblatt said. The buyback bonanza occurred during the first full quarter after President Donald Trump signed into law a massive corporate tax cut that was supposed to lift business spending on job-creating investments. The tax law reduced the corporate tax rate to 21% from 35% and gave companies a break on taxes owed when returning foreign profits. That one-two punch allowed companies to reap huge profits, a sizable chunk of which have been returned to shareholders. Profits had already been on the rise thanks to the accelerating economy. Buybacks are clearly booming, more than 5.5 million employees received a tax cut bonus, pay raises or 401(k) hikes, according to the White House. But business spending -- the stated goal of the tax law -- has not significantly accelerated, at least not yet. One broad measure of business spending, real nonresidential fixed investment, rose by 6.1% during the first quarter. That's solid growth signaling a strong economy. However, it was roughly in-line with the past several quarters. It even marked a slight deceleration from the final three months of 2017. That means companies have not significantly boosted spending on equipment, factories and other investments that create jobs and boost wages. Some economists aren't surprised that the early windfall of the tax cuts is going to Wall Street, instead of Main Street. They note that companies have long had access to tons of cash. "If they had plenty of cash, you shouldn't really expect having access to more would lead them to invest," said Alan Auerbach, director of Berkeley's Robert D. Burch Center for Tax Policy and Public Finance.
Handed $30 Billion, Corporate America Is Splurging on Everything https://www.bloomberg.com/news/arti...ialflow-twitter-business&utm_content=business
I remember when the economy was going to explode from those rich people tax cuts... But what is growing? U.S. Inflation Accelerates to Six-Year High, Eroding Wages https://www.bloomberg.com/news/arti...t-six-year-high-eating-away-at-wage-increases and what is not growing:
trump and the republican congress will go after Medicare and Social Security... gotta pay for the rich people tax cut you know...
Good article in the NY Times about the Administrative efforts to reorganize the federal bureaucracy in a way that will make it easier to cut safety net spending. We'll pair massive tax relief for the super-rich with massive cuts to help for the poor. Also some interesting insight about how much of Trump's policy work has been handed over to the Heritage Foundation. https://www.nytimes.com/2018/06/21/...latest&contentPlacement=5&pgtype=sectionfront Behind Trump’s Plan to Overhaul the Government: Scaling Back the Safety Net By Glenn Thrush and Erica L. Green June 21, 2018 WASHINGTON — President Trump, spurred on by conservatives who want him to slash safety net programs, unveiled on Thursday a plan to overhaul the federal government that could have a profound effect on millions of poor and working-class Americans. Produced over the last year by Mr. Trump’s budget director, Mick Mulvaney, it would reshuffle social welfare programs in a way that would make them easier to cut, scale back or restructure, according to several administration officials involved in the planning. Among the most consequential ideas is a proposal to shift the Supplemental Nutrition Assistance Program, a subsistence benefit that provides aid to 42 million poor and working Americans, from the Agriculture Department to a new mega-agency that would have “welfare” in its title — a term Mr. Trump uses as a pejorative catchall for most government benefit programs. That proposal, which includes an equally ambitious plan to merge the Education and Labor Departments to consolidate work force programs, is not likely to gain the congressional approval needed to make the changes, Mr. Mulvaney’s aides conceded in a phone call with reporters on Thursday. But the rollout has a bigger long-term purpose, said Margaret Weichert, one of Mr. Mulvaney’s deputies who drafted the proposal. She cast the proposal as a rallying cry for “small government” and said the audacity of the plan proved “why many Americans voted for this president.” Mr. Trump, for his part, joked on Thursday that the plan was “extraordinarily boring” before TV cameras in the Cabinet Room. But being boring in an all-too-exciting White House has provided cover for a small army of conservatives and think tank veterans who have been quietly churning out dozens of initiatives like the proposal to reshuffle the cabinet, with the ultimate goal of dismantling the American social welfare system from the inside out. ...
