One Down And A Humongous One To Go!

One of the most disturbing issues concerning the U.S. Congress has always been the abdicating of their responsibilities to read what was in the massive spending bills they passed, without the members actually knowing what was included in them.

With the pork-filled so-called “Infrastructure bill” passed last Friday night awaiting Biden’s signature, the second bloated bill is waiting in the wings. We were told it was a $3.5 trillion package that was “slightly” scaled down. But, low and behold, after the “theft” of the governorship of Virginia by Republicans, Pelosi and Company decided to revert to the “original” version of the “Social Infrastructure Plan” or “Build Back Better,” which is actually a budget reconciliation bill which, we are told, is now closer to $5 trillion in total cost!

Republicans demand that debate on the Big Kahuna be delayed until the Congressional Budget Office completes their scoring of the measure, which could take weeks. Pelosi, however, has informed everyone it will be “handled” before Thanksgiving.

What’s in the bill?

Thankfully, a Republican has worked with his staff to shed light on some of the nastier items in this bill. Rep. Jim Banks (R-SC), the chairman of the Republican Study Committee (RSC), just detailed many of the most radical aspects of the $3.5 trillion infrastructure bill.

Although Democrats have not agreed to the final tenets of the legislation, Americans can see the tentative details of the Democrats’ marquee legislation. “They’ve played ‘hide the ball’ with the bill text so as not to tip off the public as to what they’re putting in their bills. Then, they bring it to the floor and tout some poll numbers and scare their members into voting for it,” the RSC wrote.

Let’s take a quick look at the RSC’s findings of some of the most egregious elements of this “Social Infrastructure” monster.

The RSC noted the bill would:

  1. Perpetuates labor shortage: Continues welfare benefits without work requirements for able-bodied adults without dependents at a time where there are 10.1 million job openings—more openings than there are people looking for work.
  2. Commissions climate police: Democrats stuffed $8 billion into the bill to commission a cabal of federally funded climate police called the Civilian Climate Corps (CCC) who will conduct progressive activism on taxpayers’ dime (pages 821, and 926).
  3. Pushes Green New Deal in our public schools: Requires funding for school construction be used largely on enrollment diversity and Green New Deal agenda items (page 55).
  4. Pushes Green New Deal in our universities: Democrats include a $10 billion “environmental justice” higher education slush fund to indoctrinate college students and advance Green New Deal policies (page 1,935).
  5. Forces faith-based child care providers out: The bill blocks the ability of many faith-based providers from participating in the childcare system and will lead to many of their closures (page 280).
  6. Hurts small and in-home daycares: Requires pre-K staff to have a college degree. (page 303)
  7. Includes new incentives for illegal immigration: Illegal immigrants will be eligible to take advantage of Democrats’ new ‘free’ college entitlement (page 92) as well as be eligible for additional student aid (page 147) and the enhanced child tax credit (page 1,946).
  8. Includes legislative hull for Biden’s vaccine mandate: Increases OSHA penalties on businesses that fail to implement the mandate up to $700,000 per violation and includes $2.6 billion in funding for the Department of Labor to increase enforcement of these penalties (page 168).
  9. Gives unions near-total control: The bill includes insane prohibitions that would bind employers’ hands in union disputes and dangerously tilt the balance of power, subjecting employers to penalties that exempt union bosses and officials… among other things this bill would prevent employers from permanently replacing striking workers (page 175). It coerces businesses to meet union boss demands by increasing Fair Labor Standards Act penalties by an astronomical 900% (page 168).
  10. Makes unions bigger and more powerful: The bill would subsidize union dues that would only serve to strengthen the influence of union bosses and not American workers (page 2323).
  11. Pushes Democrats’ wasteful and confusing school lunch agenda: $643 million for, among other things, “procuring…culturally appropriate foods” (page 333).
  12. Furthers radical abortion agenda: Does not include the Hyde amendment and would mandate taxpayers pay for abortions (page 198) & (page 336).
  13. Drives up costs on Americans’ utility bills: Issues a punitive methane tax (page 367) and includes a tax on natural gas up to $1,500 per ton that could cost the American economy up to $9.1 billion and cost 90,000 Americans their jobs (page 368).
  14. Includes dangerous & deadly green energy mandate: Effectively forces Americans to get 40% of their energy from wind, solar, and other unreliable forms of energy within 8 years (page 392). Reliance on these energy sources has proven deadly.
  15. Includes kickbacks for the Left’s green energy special interest network: $5 billion for “environmental and climate justice block grants” (page 377) and another $100 billion in green energy special interest subsidies, loans, and other carve outs.
  16. Gives wealthy Americans tax credits: $222 billion in “green energy” tax credits will be given to those who can afford expensive electric vehicles and other “green” innovative products (page 1832).
  17. Furthers Democrats’ social justice agenda: Includes “equity” initiatives throughout the bill and, in one instance, Democrats inserted “equity” language into a title which should have been focusing on the maintenance of the United States’ cyber security efforts (page 897).
  18. Grants amnesty for millions of illegal immigrants: House Democrats have included in their reconciliation bill a plan to grant amnesty to around 8 million illegal immigrants at a cost of around $100 billion over ten years that would largely be spent on welfare and other entitlements (page 901). Trillions more would be spent long-term on their Social Security and Medicare.
  19. Opens border even wider: The bill would waive many grounds for immigration inadmissibility, including infection or lack of vaccination status during a Pandemic, failure to attend removal proceedings in previous immigration cases, and the previous renouncement of American citizenship. DHS may also waive previous convictions for human trafficking, narcotics violations, and illegal voting (page 903).
  20. Increases visa limit: At least 226,000 family-preference visas would be administered each year (page 905).
  21. Grants fast-tracked green cards for those seeking middle-class careers in America: Language included in the bill exempts certain aliens from the annual green card statutory limits and has been described as a  “hidden pipeline for U.S. employers to flood more cheap foreign graduates into millions of middle-class careers needed by American graduates” (page 910).
  22. Includes pork for Nancy Pelosi: $200 million is earmarked for the Presidio Trust in Speaker Pelosi’s congressional district (page 933).
  23. Increases energy dependence on OPEC, Russia, and China: The bill prohibits several mineral and energy withdrawals (page 979). It overturns provisions included in the Tax Cuts and Jobs Act that authorized energy production in the Arctic that will result in 130,000 Americans losing their jobs and $440 billion in lost federal revenue (page 983) and the mineral withdrawals it prohibits would, ironically, include minerals necessary for renewable energy sources (pages 934940943).
  24. Exacerbates the chip shortage: The bill would mandate the conversion of the entire federal vehicle fleet from internal combustion engines to electric engines at a time when there is a global microchip shortage and crippled supply chains (page 1,043).
  25. Democrats’ feckless China bill is included: Concepts from the insanely weak Endless Frontier Act included, including $11 billion in research funding that will likely result in American intellectual property going to China (page 1079 – 1081).
  26. Chases green energy pipe dreams: $264 million to the EPA to conduct research with left-wing environmental justice groups on how to transition away from fossil fuels (page 1063).
  27. Fixes “racist” roads and bridges: Adds a nearly $4 billion slush fund that would help left-wing grassroots organizations that, among other things, want to tear down and rebuild or otherwise alter infrastructure deemed “racist” (page 1183).
  28. Punishes red states for failing to adopt Green New Deal provisions: Mandates “consequences” for conservative states that don’t meet the radical Left’s “green” climate standards while at the same time adding nearly $4 billion for “Community Climate Incentive Grants” for cooperating states (page 1179).
  29. Includes new massive, bankrupting entitlement: The new paid leave entitlement would mandate workers get 12 weeks of paid leave and would cost $500 billion over ten years according to the CBO (page 1245). It would apply to those making up to half a million dollars a year (page 1254).
  30. Advances a totalitarian and paternalistic view of the federal government: Includes grants for organizations to treat individuals suffering from “loneliness” and “social isolation.”
  31. Further detaches individuals from employment and more reliant on government handouts: The bill spends $835 billion on welfare through manipulating the tax code [not including the expansions of Obamacare subsidies] (page 1943).
  32. Tax benefits for the top 1%: The bill will possibly lift the SALT deduction cap meaning many of the top 1% wealthiest Americans would pay less in taxes.
  33. Tax credit for wealthy donors who give to woke universities: The bill creates a new tax credit program that gives tax credits worth 40% of cash contributions that are made to university research programs (page 2094).
  34. Expands worst parts of Obamacare: Obamacare’s job-killing employer mandate will become more severe by adjusting the definition of “affordable coverage” to mean coverage that costs no more than 8.5 percent of income rather than the current law’s 9.5 percent of income (page 2041).
  35. Increases taxes on Americans at every income level: $2 trillion in tax hikes will fall on those making under $400,000 per year, contrary to what the White House says. Individuals at all income levels will be affected (Ways and Means GOP).
  36. Lowers wages for working families: The corporate tax rate will increase by 5.5%, meaning American companies will face one of the highest tax burdens in the world. According to analysis, two-thirds of this tax hike will fall on lower- and middle-income taxpayers (page 2110).
  37. Penalizes marriage: The bill would permanently double the EITC’s marriage penalty on childless worker benefits (page 2036).
  38. Imposes crushing taxes on small business: Guts the Tax Cuts and Jobs Act small business deductions that reduced pass-through entity taxes to keep them comparable to taxes imposed on corporations (page 2235) as well as hammer small businesses that file as individual tax earners with the 39.6% rate (page 2221) and Obamacare’s 3.8% tax on net investment income.
  39. Crushes family businesses and farms: The bill would impose a 25% capital gains rate  (page 2226) and makes alterations to the Death Tax including cutting the Death Tax exemption in half (page 2240).
  40. Violates Americans’ financial privacy: $80 billion slush fund to hire an 87,000-IRS-agent army to carry out the Biden administration’s plan to review every account above a $600 balance or with more than $600 of transactions in a year. (page 2283).
  41. Increases out-of-pocket costs for those who rely on prescription drugs: The bill repeals the Trump-era Rebate Rule which passes through rebates directly to consumers at the point of sale (page 2465).
  42. Imports policies from countries with socialized medicine: The bill includes healthcare policies imported from systems in Australia, Canada, France, Germany, Japan, and the United Kingdom—all countries that have government-run healthcare systems (page 2349).

The bill also has other lesser-known provisions, including:

  • $5 million per year for the Small Business Administration for an entrepreneurial program for formerly incarcerated individuals.
  • $2.5 billion for the Department of Justice (DOJ) to award competitive grants or contracts to local governments, community-based organizations, and other groups to support “intervention strategies” to reduce community violence.

Summary

Be honest. Which of these 42 items does the United States absolutely have to adopt to move forward successfully? If you speak or listen to any Democrat member of Congress or the talking heads in the media, every one of them is an absolute necessity. Come on now: $4 billion is mandatory so that we can tear down and rebuild all items of infrastructure that are deemed “racist?”

“Each of these 42 bullets is enough to vote against the bill. Taken together – it’s mind-blowingly corrupt. We need to loudly oppose it,” Banks charged in the release of this information.

I could go on and on railing against the stupidity of all who feel this bill is not only necessary but is possible to sustain financially! You may not know this, but we don’t have the capability to fund this bill even if it costs what they tell it will cost!

When has any piece of financial legislation ever proven to be “at” or “near” the Congressional projections? It’s safe to say they double in size at least and are usually closer to three or four times projections.

I just thought of this: You know what’s the most insane conclusion of this entire process? It’s NOT that Democrats would try to shove this spending measure down Americans’ throats just as they did last Friday night with that faux “infrastructure bill.” It’s that about half of our elected Representatives and Senators are likely to vote to make this bill law!

God help the United States of America.  We certainly cannot be entrusted to do the right thing in this regard.

To Download Today’s (Tuesday, Nov. 9, 2021) “TNN Live!” Show, click on this link:

“Work Or To Make More Babies?” That Is The Question

Democrats used to be the party of working people. Now, they sneer at people who work hard. Democrats pushing to pass the “Build Back Better” bill want a single parent with two kids to be able to take home well over $31,000 in cash and noncash federal benefits a year, tax-free, without having to work. The handouts are even higher in states that offer generous benefits. So why get a job?

Nonworking adults are already eligible for food stamps, housing vouchers, and health care. Now, Democrats want to send them monthly checks if they have kids – up to $300 per kid. The checks, nicknamed “Biden Bucks,” originated earlier this year to help tide over families who lost their jobs because of COVID. President Joe Biden’s team wants to convert them into a permanent entitlement. House Republicans mock it as “cash-for-kids.”

Everyone wants to help kids, but Republicans and one lone Democratic senator, Joe Manchin (D-WV), oppose handing out cash to able-bodied parents without requiring them to work or train for a job. Democrats and their media allies bash that as cruelty. Washington Post columnist Paul Waldman attacks work requirements as a “time tax and ritual humiliation” on poor people. Really? The rest of us have to work, and there’s nothing humiliating about it.

The political battle over “Biden Bucks” is key to where we as a nation are headed.

In 1996, President Bill Clinton and a bipartisan majority in Congress passed welfare reform, eliminating cash welfare without work or job preparation. It worked. Child poverty dropped from 13 percent to less than 4 percent, and teen pregnancies and welfare dependence plummeted. Democrats want to undo these reforms. Biden himself supported the work requirement then, but he says he’s adamantly against it now. So much for his blue-collar cred.

New York Times columnist Paul Krugman admits eliminating the work requirement “represents a philosophical break with the past few decades” and “the obsessive fear that poor people might take advantage of government aid by choosing not to work.” A fear borne out by social science and common sense.

University of Chicago economists calculate that the monthly cash payments will encourage 1.5 million parents to quit working. Perhaps they’ll spend the next year on the couch, making more babies to up their income from Uncle Sam.

This week’s headlines are about Democrats trimming the “Build Back Better” bill to reduce the price tag and win the votes of holdouts Manchin and Sen. Kyrsten Sinema (D-AZ). All 50 Democratic senators need to be on board to pass the bill. But don’t be misled by proposals to sunset the monthly checks after one year, or five, instead of making them permanent. That reduces the official cost. But once created, entitlements are almost never allowed to sunset. Their funding will be renewed in succeeding years. America will fast become starkly divided between the hardworking people who foot the bills and the millions on welfare, cheering on politicians to increase the dole. The burden on working people will become intolerable.

The New York Times has been featuring opinion columns deriding Americans’ work ethic. In “8 Hours a Day, Five Days a Week Is Not Working for Us,” Bryce Covert argues that a “reduction in work doesn’t have to mean a reduction in anyone’s living standards.” That’s la-la-land economics.

When fewer people work, fewer goods are produced, and they cost more. Inflation.

Americans are shell-shocked already by rising food and fuel prices. They’re recalculating how much they can afford and how it will impact their life plans. Yet the Biden team is telling them they have to support able-bodied adults who don’t want to work. The reaction should be pure rage.

The “CTC” — Child Tax Credit

Good intentions cannot be the measure of a policy’s merit. The case for expanding the child tax credit (CTC) has always been disarmingly simple: Giving parents money will reduce hardship among children. The American Rescue Plan Act (ARPA) temporarily made the CTC more generous for all but the richest families – especially to those with little to no earnings. Unlike the old CTC, the newly expanded version – which Democrats are trying to extend via the budget reconciliation bill – provides the full credit amount to families even if they owe no income tax or have no earnings. Estimates of the effect of the expansion have ranged from a drop in poverty of one-third to 46 percent. These estimates simply add the new CTC benefits to families’ incomes and re-calculate whether they are poor. Unsurprisingly, when poverty is defined as having too little income, giving more income to more families means that fewer fall below the poverty threshold.

Critics of the CTC expansion have offered a number of objections, including its $1.6 trillion cost over a decade. Of course, that prediction “might” prove true “if” the bill is passed and signed into law and “if” its time to exist remains as in the bill. But, as mentioned above, “Once created, entitlements are almost never allowed to sunset.” That means the cost of the CTC as outlined in this bill would multiply exponentially as would the employment downside that would certainly dramatically expand.

Getting paid to sit on the couch and make babies instead of working will mean two things: more babies and a much-reduced workforce.

A group of economists from the University of Chicago’s Becker Friedman Institute (CMSW) CMSW finds that the work disincentives created by the expanded CTC are larger than previous researchers have claimed — perhaps sizable enough to reverse the employment gains caused by welfare reform and the EITC in the 1990s — and primarily impact single-parent families. As a result, existing studies have overstated the short-term poverty-reduction impact of the policy by a third.

Summary

The CMSW study should give policymakers pause as they contemplate extending the newly expanded CTC. It identifies significant short-term effects on employment, even without looking at how the expanded CTC might cause some workers to reduce their hours while still remaining employed. Nor does it look at the effect on non-workers’ likelihood of choosing to enter work. So it only partly gets at the labor supply response to an expanded CTC.

The negative effects on work that the study does estimate would be heavily concentrated among low-earning families, who are disproportionately headed by a single parent. Roughly half of the families leaving employment in the CMSW modeling would come from families earning under $30,000. Over 80 percent of families leaving employment in their model switch from one worker to no workers (rather than from two workers to no workers — their model does not allow for two-worker-to-one-worker switches). In other words, the paper’s results are not driven by married mothers (or fathers) leaving the workforce to have a single-breadwinner family.

In truth, almost everyone involved in anti-poverty debates has good intentions. No one favors increasing child poverty as a policy goal. We should all rely on evidence as best we can to guide our policy positions, but the evidence is almost always more ambiguous than the staunchest advocates of safety net expansions believe. Ambiguity calls for caution and for the kind of experimentation that informed welfare reform. Jumping hastily into a dramatic transformation of the safety net without worrying about unintended consequences may be soft-hearted, but researchers and policymakers must take care to be hard-headed as well — because we are trying to help today’s and tomorrow’s children.

Let’s just dumb this conversation down a bit and make a commonsense statement: “ALL people who plan to enter the workforce should guarantee their education will facilitate their getting into the workforce when they complete their education.” Why? Even if the CTC and the “Build Back Better” plans become law, there is NO guarantee of either’s perpetuity. And, by the way, doesn’t one receive buckets full of personal gratification for receiving financial returns based on something(s) that THEY do rather than THEY receive from someone else’s checking account?

To Download Today’s (Thursday, Oct. 28, 2021) “TNN Live!” show, click on this link:

What Are The REAL Numbers the Wealthy Pay in Federal Taxes?

Yeah, Yeah, we know: “The richest one percent of Americans pay little or NO federal taxes. And those evil corporations don’t pay taxes at all.” That’s the story bandied around by the Left for decades. Democrats, during election season, consider that talking point to be their “go-to” to diminish their GOP opponents. Then, if and when they are elected to office, they double-down with it to justify raising BIG taxes by demonizing “the Rich.”

There’s one problem: It ain’t true!

In fact, the much-maligned minority, the richest percent of Americans, pays 39.5% of all Federal Income Tax. That is one of the most eye-catching figures in a study released by the Tax Foundation earlier this month. To put that percentage in absolute figures: the richest percent of American taxpayers pay $542.64 billion of a total take of Federal Income Tax of $1.37 trillion.

We’re talking about just the top one percent of American taxpayers!

This data visualization clearly shows that the top one percent pay much more than taxpayers of any other income level.

  • It is almost double as much as the next bracket of top incomes: those earning the 2% to 5% of the highest wages in America pay 20.5% of all Federal Income Tax. Or in absolute terms: $281.51 billion.
  • It is also almost four times as much as those whose incomes range from the top 6% to 10%. They pay 10.9% of Federal Income Tax, or $149.97 billion.
  • Those who earn between the top 10% to 25% of wages in America are a much larger group. Yet, their collective input into the Federal Income Tax is only half as much again as the previous band: 15.9% (i.e., $281.55 billion).
  • Those with an income anywhere between the top 25% and 50% only pay 10.5% of all Federal Income Tax, no more than $143.95 billion.
  • The entire bottom half of wage earners pay only 2.8% of their income in taxes into the federal coffers. In actual money terms: $37.74 billion. That is more than 14 times less than the top 1%, even though this group is 50 times as numerous.

These figures show the level of contribution to total income tax revenues by the various income levels. The Tax Foundation also provided figures for what that means for individual taxpayers in each group.

  • The effective average tax rate for the richest one percent is 27.2%, meaning that well over a quarter of their income goes into federal coffers.
  • For the next group (up to 5%), the fiscal pressure is just below a quarter: 23.6%.
  • Taxpayers with incomes in the top 10% part with just over one-fifth (21.3%) of their earnings.
  • Those in the top 25% bracket contribute 17.8% of their annual income.
  • Even those up to the 50th percentile on average still give 15.5% of their annual income to Uncle Sam.
  • Because about 45% of American households make too little to pay any Federal Income Tax, the average percentage for the bottom half of incomes is dramatically lower – the average Federal Income tax level for this group is just 3.5%.

Nobody likes paying taxes, and all taxpayers agree that everyone who contributes to the national purse should have some say in how the government raises and spends its money. But in this debate, whose voice should be louder: that of the majority at the bottom of the income scale (who contributes the least) or of the minority of biggest contributors (who fork out the most)? Simply put, that question is the foundation of all politics in a capitalist democracy like ours.

How Do Americans Feel About the Rich and the Tax Burden of the Wealthy?

New Yorkers from Rep. Alexandria Ocasio-Cortez’s district overwhelmingly say the wealthiest people in America pay among the lowest tax rates in the country, which is not supported by data.

“We’re paying too much taxes,” a woman named Lavasquez said to one reporter. “The lower and middle classes, we’re working our butts off, and we’re paying so much taxes, and then you’ve got the upper class, and they’re not paying anything.”

“It’s totally unfair,” said Richard, who works in data analytics. “The bottom percentile of individuals are probably paying the bulk of the taxes whereas you have millionaires and billionaires being able to avoid their share.”

The wealthiest people are “definitely paying the bare minimum if any,” he continued. “I would assume it’s about five percent if that.”

Last week, House Democrats unveiled a proposal to raise taxes on the top sliver of U.S. households. The proposal is part of a sweeping plan to overhaul the nation’s tax code to fund President Biden‘s $3.5 trillion spending bill that includes family and climate change initiatives.

Under the plan released by the House Ways and Means Committee, the top individual income rate would climb to 39.6% for the wealthiest individuals and families. The proposal rolls back a key part of Republicans’ 2017 tax overhaul, which lowered the top individual income rate to 37%.

“I don’t think rich people pay enough taxes,” an audio-visual engineer from New York’s 14th Congressional District said. “They make way too much to get away with making so little.”

A man named Calvin said this: “It basically depends on who you know. There’s a reason why shell companies exist. That’s how you evade taxes.”

One man, Manny, said he thought taxes across the board were “too high” already. He was sure the wealthy “pay their fair share.”

Most people said they wanted a “fair” solution when asked how much the wealthy should pay.

“They should be paying the same amount of taxes as the middle, and lower class are,” Lavasquez said. “That way, it gives us equal share, and no one is feeling singled out.”

Richard said: “If I’m paying a third of my income to taxes, why not the same be applied to millionaires and billionaires? If that’s not fair, then what is?”

Another man said: “It’s not fair to ask them to pay much more than everyone else. I wouldn’t ask for something crazy like half of your money … keep it under 20%, and it would be good.”

According to a Congressional Budget Office report, the top 1% of earners paid an average federal tax rate of 32% in 2017. Tax rates that year declined with income, with the poorest 20% paying an average tax rate of 1%. The Tax Policy Center found similar results.

In 2018, the top 1% of income earners — those who earned more than $540,000 — earned 21% of all U.S. income while paying 40% of all federal income taxes, according to a Tax Foundation analysis. The group paid more in income taxes, about $615 billion, than the bottom 90% of taxpayers combined, or $440 billion.

The data showed that the top 10% earned 48% of the income and paid 71% of federal income taxes.

The share of taxes shouldered by the nation’s richest individuals has climbed over time.

In 2001, for example, the top 1% accounted for 33.2% of the nation’s individual income taxes, according to the Tax Foundation. From 2001 to 2018, the share paid by the bottom 50% of taxpayers fell to 3% from 4.9%.

Summary

Unfortunately, Democrats and their incessant concentration on spreading false news about taxes paid by the wealthy have tricked millions of Americans sufficient to foment anger and hatred for the wealthiest of Americans. There is NO doubt these folks make much money. Some certainly inherited it, while others have worked their way to the top of corporations. In contrast, still others have pursued the American Dream, started companies, worked hard to establish them, and are now reaping the fruits of their investments and labor. But isn’t that what the Constitution offers everyone: “Equal Opportunity?”

There was a recent time in which an atmosphere of freedom in the pursuit of happiness in the nation was not only allowed but encouraged. The nation saw a true entrepreneur in the Oval Office: Donald Trump. Sure, some point to his father giving him a six-figure stake to get his entrepreneurial career started. Those same folks wag their fingers at him because he was not “self-made.” But what they forget is that he turned that one million into billions! That doesn’t happen in countries where U.S. freedoms are non-existent.

Raising taxes does two things and two things only: one, it stifles economic growth — PERIOD. Those “one-percenters” who the Leftists hate decide to stop investing and growing their companies because of the stifling tax liability stop growing their companies! Doing that means that those company revenues begin to flatten or tail off, which means “less money.” Less money means no expansion, which means no new jobs, fewer (if any at all) pay raises for employees, perks for staff disappear, and advancement within their company is no longer available. Secondly, corporate layoffs occur when company revenue slides. Corporations then cut expenses. How? Company layoffs, wage reductions, office closings, etc. That always drives unemployment up, wages down.

What Democrats hate to admit is with federal tax cuts, the exact opposite occurs! They demonized Trump’s 2017 tax cut program that cut taxes on virtually EVERY American. The economic and labor statistics prove what that tax cuts instigated. Besides dramatic improvements across the board, Democrats gnashed their teeth when the thought of any Trump success was mentioned.

So why the problem with the Left? Aren’t they happy when every American see improvements in almost every area of their lives? Answer: No, because all the new revenue coming to the government through federal taxes is happening because of the efforts of a Republican.

Just watch as this Congress — controlled totally by Democrats — struggles to sell the American people the need for massive additional federal spending. And to accomplish that, what is mandatory? More Money. And where does that originate? Federal taxes. And who pays those taxes? The American people.

A short note to Joe Biden, Nancy Pelosi, and Chuck Schumer: Americans no longer buy that totalitarian talking point if they ever did. In fact, instead of Pelosi’s $3.5 trillion spending bill with massive new taxes enacted to fund her pork giveaways, why not LOWER taxes again and take us back to the economic miracles we experienced under Donald Trump!

Hold your breath waiting for a Democrat in leadership to agree that needs to happen.

To Download today’s (Wed. Sept. 21, 2021) “TNN Live!” show, click on this link:

Message from Blue Staters Who fled Blue States to Those Who Remain: “Be Careful For Whom You Vote”

According to the National Association of Realtors, an estimated 8.9 million people have relocated to Florida from states like New Jersey, New York, and California since the beginning of the COVID-19 pandemic. As the economies of these states continue to crumble under the stress of continued lockdowns and other destructive policies, fleeing former residents offer advice to those who remain: “Start making better decisions on who you vote for.”

Florida was the No. 1 relocation destination for Americans in 2020, according to Move.org. However, new York and California took first and second place in the contest for which states had the most people choosing to leave.

Justin Pearson is a 27-year-old truck loader for a Target distribution center. A resident of Hemmit, California, for 22 years, Pearson moved to the town of Riverside for another three years until the dramatic change in policies and the rising cost of living made it impossible for him to live on his own. There also was no way he could afford to buy his own home, he said. So to survive at all, he fled to Lake City, Florida.

While the national average in property taxes is 1.07 percent, Floridians pay only 0.83 percent, and Californians pay even less — 0.73 percent. But Pearson said the cost of everything else in California erased the benefit of lower property taxes. Additionally, Florida is one of only nine states in the country with no state income or wage taxes.

“With the COVID restrictions, a lot of businesses closed,” Pearson told one news agency. “In turn, that caused an increase in homelessness. Then the governor enacted the zero-dollar bail policy and an early prison-release program, which caused the crime rate to skyrocket. Gas taxes were added. The cost of living was so high you could not get by if you were single. You literally had to have two or three incomes to make it.”

A specific motivator in Pearson’s decision to choose Florida was his “deep respect” for Gov. Ron DeSantis because of his moves to ban Critical Race Theory, to enact an anti-riot bill, and his unapologetic position of “backing the blue.” Pearson also admires the widely criticized decision by DeSantis to lift all COVID restrictions, which he believes are killing California.

Failed Policies

California Gov. Gavin Newsom chose to maintain COVID-19 lockdown restrictions and extend both state and federal emergency taxpayer-funded unemployment benefits. As a result, California’s unemployment rate of 8.3 percent is among the highest in the nation, second only to Hawaii’s 8.5 percent.

The national average is 6.1 percent.

Florida’s state emergency unemployment benefits are set to expire, and DeSantis has declined to extend the additional $300 per week in federally subsidized unemployment benefits. Still, Florida’s unemployment rate stands at 4.8 percent.

Pearson said California’s high unemployment fueled an explosion in homeless numbers, which had already been exacerbated by Newsom’s 2017 mental health budget cuts, which left unstable patients who would have otherwise been cared for wandering the streets.

“You can walk on every corner and find trash everywhere, needles and feces,” Pearson said. “It’s disgusting.”

Pearson also noted how illegal immigrants are flooding into California, and the governor is doing nothing to stop it.

“In fact,” Pearson said, “he gave them stimulus paychecks using our tax dollars.”

Pearson, who ran back-the-blue rallies in California, said it was becoming too dangerous in California for Republicans to stand up for what they believed in.

“People would come over and assault us,” Pearson recalled. “But, because of the zero-dollar bail policy, they would get away with it. California is just a difficult place to live, and I don’t see it changing anytime soon until people in California start making better decisions on who they vote for.”

Many of Pearson’s sentiments are shared by Laura Gainsborg.

“I’ve been in New Jersey now for over 30 years, and that’s enough,” the former Florida resident told The Epoch Times.

“Talk about blue,” Gainsborg said of Pennington, New Jersey. “It’s a tiny little town, and the people are as liberal as they get!”

Like Pearson from California, Gainsborg wanted to leave New Jersey because she felt uncomfortable discussing politics. According to Gainsborg, a Republican, people in her predominantly liberal neighborhood are not very receptive to listening to the other side.

“There are very few people we can talk to,” Gainsborg lamented of the place she called home for three decades. “I want to move back to Florida. People in Florida are always friendly. You can talk to anybody, even those with different political leanings.”

Gainsborg was also drawn to Florida by the leadership of Ron DeSantis. As a retired teacher, she supports his ban on CRT. She also favors his move to opt-out of the additional $300 per week federal unemployment benefits, which she believes encourages people to avoid going back to work to earn a paycheck.

Along with providing an additional 13 weeks of state taxpayers’ unemployment benefits, New Jersey Gov. Phil Murphy also extended the additional $300 per week in federal unemployment benefits. New Jersey’s unemployment rate is currently 7.5 percent.

“It’s been horrible,” she said. “New Jersey is going down fast because people don’t want to go back to work. The teachers don’t want to go back to work. The unions are running New Jersey right now.”

Paying lower property taxes was a major qualifier in Gainsborg’s decision to move to Florida. Gainsborg’s husband, a forensics scientist, is also preparing to retire. But even with their combined retirement benefits, she said they would not afford the property taxes they would have otherwise had to pay in New Jersey.

More Statistics Confirm Similar Moves and Reasons for Leaving

If you live in the blue states of New York, California, New Jersey, or Illinois and think your friends are leaving you, don’t take it personally.  It’s not you.  According to North American Moving Services, in 2020, the mass exodus of people from America’s blue states was on the rise, and residents of those states are still fleeing.

The northeastern United States leads the nation in a mass exodus.  Democrat Governors such as Andrew Cuomo in New York, Phil Murphy in New Jersey, and Torm Wolf in Pennsylvania instituted policies in those states that negatively impacted residents, causing a spike of fleeing residents in 2019, but in 2020, the policies by those governors during the COVID-19 pandemic accelerated the exodus.

“Northeastern states make up four out of the seven states with the most outbound moves, and none of them make the top eight for inbound moves. New York led the way, followed by New Jersey and Maryland. But California edged out Maryland for fourth place on the outbound list,” the NAMS report concluded. “Pennsylvania and Michigan also made the list, and both states have made the top 10 fairly consistently for the past few years. Maryland has made the list for outbound moves since 2015, and it has ranked between second and fifth places. In 2020, it took fifth place.”

One of the main reasons people are fleeing the northeast is because of jobs.  They were hard to find before COVID-19 and now, with many businesses shut down, restricted, and operating at 25% capacity, jobs are even harder to find.

Here are 5 key observations in the report.
  •  People are fleeing California for Texas and Idaho;
  • Illinois, New York, and New Jersey are the three states with the most outbound moves;
  • The top five inbound states in 2020 are Idaho, Arizona, Tennessee, South Carolina, and, North Carolina, with Tennessee overtaking South Carolina from the 2019 results;
  • Florida, Texas, and Colorado round out the top eight states for inbound moves;
  • Despite the pandemic, people continued to move at rates comparable to 2019.

“States in the South consistently rank well in the list of inbound moves. On average, states throughout the southeast, south, and southwest continue to see their populations grow as more individuals relocate there than leave the region. Arizona and South Carolina have been in the top five inbound states since 2015,” according to the report. “Meanwhile, North Carolina and Tennessee have always been on the list but reached the top five in 2016. While Tennessee usually sat in fifth place or so, it is now in third place for inbound moves. Florida and Texas have also been in the top 12 since the first report in 2015.”

Each year, both states rose through the ranks. Now, Florida is in sixth place, and Texas is one point behind in seventh place. While Georgia was in the top eight for the first few years, it has fallen out of the top eight since 2018. Still, the south continues to dominate the inbound list. Even as Americans move to different states, southern sunbelt states will probably stay on the list for many years.

Why are people in New York, New Jersey, and Pennsylvania heading south?

  • States in the south have experienced job growth due to companies relocating to or opening branches in the area. While the pandemic has changed things, there are still plenty of jobs in the south.
  •  Southern states like Texas, Florida, and Tennessee don’t have a state income tax.
    Arizona and the Carolinas have a state income tax, but rates are relatively low, not surpassing seven percent. (https://www.businessinsider.com/personal-finance/stateswith-no-income-tax-map)
  •  Of course, the warmer weather is a draw for many people. Some states may have hot summers, but the mild winter is worth it for some.
  • For those seeking to avoid congested areas, the south offers a lot of open space and opportunity to live more rurally, but with access to common conveniences.

Of all Western states, only California has consistently ranked in the top 10 for outbound moves since 2015. The percentage has fluctuated over time, but enough people continue to leave to make it stand out. California’s high cost of living could be the reason for so many outbound moves, along with a lack of affordable housing in some cities (San Francisco, for example, has an approximate 30+% of outbound versus inbound movers).

Summary

There’s one universal cry from the people who have left these blue states to relocate to red states. And that cry is directed to all those who remain in the liberal states: “Please rethink your choices to serve you in local, state, and federal office.”

There’s one universal cry from all those Americans who live in these red states in which the “blue staters” are invading: “Please leave your leftist political ideologies in those blue states before moving here!”

Sadly, in some of these states — especially in the South — the “blue wave” of leftists is slowly changing the ideological political landscape in those previously bright red states. The irony of all ironies: many of these “blue staters” made fun of conservatives living in the South for their low intelligence and lack of Wokeness. Then they move to those states for all the benefits their former fellow “Woke folks” laughed at. And the movers derided them as well before moving TO them!

This is the definitive illustration of the lunacy of the Left. Nothing factual really matters. Their one-consuming ideology is to guarantee they will always think, reason, express, and live at an intellectual level a notch or two above everyone else.

I must be honest: even if I WANTED to live in the elite class these Woke folks long for, I’d never make it. Why? I’m 60+. I’d always tire of trying to keep up with those blue staters. So I’d just go home, but on my coveralls, and walk around without wearing a t-shirt. And I’m REALLY hairy!

I’d put the Trump flag back into the bed of my 1975 Ford pickup. Oh, I’d make sure Ole Hank — my Bluetick hound — assumed his place in the back where he can bark at all the new neighbors down our road.

I just like being a Southerner. Hey, all you blue staters: you don’t want to mess with a redneck or Cajun. We all carry at least one shotgun on our truck racks. And they’re always loaded!

To Download Today’s (Thursday, June 10, 2021) “TNN Live” Show, click on this link:

The U.S. Owes a lot of Money. Who Do We Owe?

What do you think about the trillions of dollars already spent in the Biden Administration and the additional six-10 trillion that this President wants to spend for additional items? Do you feel the government spending is out of hand? Sure, we’re told that none of this spending is really “spending:” it’s “investing” in things that Americans “need.” Have you even peeked at some of these “needs” that are secretly tucked away in the late paragraphs in this legislation? We’ll detail much of it during Friday’s “TNN Live” Show from 9:00-11:00 AM Central time. You will be shocked to hear what is included. None of it is investments! In fact, MOST of it is pure fat designed and used to pay off many of those individuals and companies who contributed heavily during the 2018 midterms and the 2020 presidential elections. And, of course, very little of those contributions went to anyone bearing the brand of the “Elephant!”

Besides the obvious shock and disbelief many will hold when realizing how evil are the spending habits of this Administration and the things that President Biden intends to spend taxpayers’ dollars for, the problems that accompany such spending are sufficient to suffocate the greatest nation on Earth. And many economists are predicting the biggest hit against the U.S. economy in a century are knocking at our door just because of this deficit spending and its resulting inflation and massive, unsustainable U.S. debt.

Let’s dive into the details of our nation’s debt today — before we even add the “Biden Pork” to the total that our great, great, great, great-grandchildren are being saddled with paying. And, if Uncle Joe gets his way, there’s much more debt in the wings.

The U.S. Debt

The U.S. debt reached a new high of $28.1 trillion as of March 31, 2021. Most headlines focus on how much the United States owes China, one of the largest foreign owners. Many people don’t know that the Social Security Trust Fund, also known as your retirement money, owns most of the national debt. How does that work, and what does it mean?

The Debt Is in Two Categories

The U.S. Treasury manages the U.S. debt through its Bureau of Public Debt. The debt falls into two categories: intra-governmental holdings and debt held by the public.

Intragovernmental Debt

The Treasury owes this part of the debt to other federal agencies. In February 2021, intragovernmental holdings totaled more than $6 trillion.1 Why would the government owe money to itself? Like the Social Security Trust Fund, some agencies take in more revenue from taxes than they need. Rather than stick this cash under a giant mattress, these agencies invest in U.S. Treasuries.

This transfers the agencies’ excess revenue to the general fund, where it is spent. They redeem their Treasury notes for funds as needed. The federal government then either raises taxes or issues more debt to raise the cash.

Which agencies own the most Treasuries? Social Security, by a long shot.

The U.S. Treasury publishes this in the Monthly Treasury Statement. Here’s the breakdown from the February 2021 data:

  • Social Security trusts, including the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds: $2.90 trillion
  • Office of Personnel Management Retirement: $955.1 billion
  • Military Retirement Fund: $1.01 trillion. This has become a big issue in funding our nation’s defense and is only expected to grow.
  • Medicare, which includes the Federal Supplementary Medical Insurance Trust Fund: $304.4 billion
  • Cash on hand to fund federal government operations: $723 billion2
Public Debt

The public holds over $21 trillion, or almost 78%, of the national debt. Foreign governments hold about a third of the public debt. At the same time, the rest is owned by U.S. banks and investors, the Federal Reserve, state and local governments, mutual funds, pensions funds, insurance companies, and savings bonds.

The Treasury breaks down who holds how much of the public debt in the monthly Treasury Bulletin. Here are highlights from the March 2021 report (September 2020 data unless indicated otherwise):

  • Foreign: $7.07 trillion (in September 2020, Japan owned $1.28 trillion, and China owned $1.06 trillion of U.S. debt, which is more than a third of foreign holdings)
  • Federal Reserve and government: $10.81 trillion (December 2020)
  • Mutual funds: $3.5 trillion
  • State and local governments, including their pension funds: $1.09 trillion
  • Private pension funds: $784 billion
  • Insurance companies: $253 billion
  • U.S. savings bonds: $147 billion (December 2020)
  • Other holders, including individuals, government-sponsored enterprises, brokers and dealers, banks, bank personal trusts and estates, corporate and non-corporate businesses, and other investors: $2.28 trillion

This debt is not only in Treasury bills, notes, and bonds but also in Treasury Inflation-Protected Securities and special state and local government series securities.

If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most.

Why the Federal Reserve Owns Treasuries

As the nation’s central bank, the Federal Reserve is in charge of the country’s credit. It doesn’t have a financial reason to own Treasury notes. So why did it triple its holdings between 2007 and 2014?

The Fed needed to fight the 2008 financial crisis. In 2008, it ramped up open market operations by purchasing bank-owned mortgage-backed securities. In 2009, the Fed began adding U.S. Treasuries. By 2011, it owned $1.6 trillion, maxing out at $2.5 trillion in 2014. This quantitative easing (QE) stimulated the economy by keeping interest rates low and infusing liquidity into the capital markets, giving businesses continued access to low-cost borrowing for operations and expansion.

Did the Fed monetize the debt? In a way, yes. The Fed purchased Treasuries from its member banks, using credit that it created out of thin air. It had the same effect as printing money. By keeping interest rates low, the Fed helped the government avoid the high-interest-rate penalty it would incur for excessive debt.

The Fed ended quantitative easing in October 2014. As a result, interest rates on the benchmark 10-year Treasury note rose from a 200-year low of 1.43% in July 2012 to around 2.17% by the end of 2014.

In 2017, the Federal Open Market Committee (FOMC) said the Fed would reduce its Treasury holdings. That put upward pressure on long-term interest rates. The FOMC meeting statement summary is a report of FOMC’s discussion regarding the nation’s economic outlook. It also includes the resulting vote on the interest rates and the monetary policies the Fed plans to follow.

On March 15, 2020, the Federal Reserve announced it would purchase $500 billion in U.S. Treasuries and $200 billion in mortgage-backed securities over the next several months. On March 23, 2020, the FOMC expanded QE purchases to an unlimited amount. By May 20, its balance sheet had grown to $7 trillion.

Current Foreign Ownership of U.S. Debt

In January 2021, Japan owned $1.28 trillion in U.S. Treasuries, making it the largest foreign holder. The second-largest holder is China, which owns $1.10 trillion of U.S. debt. Both Japan and China want to keep the value of the dollar higher than the value of their currencies. That helps keep their exports to the United States affordable, which helps their economies grow.

Despite China’s occasional threats to sell its holdings, both countries are happy to be America’s biggest foreign bankers. China replaced the United Kingdom as the second-largest foreign holder in 2006 when it increased its holdings to $699 billion.

The United Kingdom is the third-largest holder with $439 billion. Its holdings have increased in rank as Brexit continues to weaken its economy. Ireland is next, holding $314 billion. Luxembourg follows it with $281 billion and Brazil with $260 billion. Luxembourg has earned a reputation for being a front for sovereign wealth funds and hedge funds whose owners don’t want to reveal their positions.

The Bottom Line

Many people believe that much of U.S. debt is owed to foreign countries like China and Japan. The truth is, most of it is owed to Social Security and pension funds. This means U.S. citizens, through their retirement money, own most of the national debt.

U.S. national debt is the sum of these two federal debt categories:

  • Public debt, held by other countries, the Federal Reserve, mutual funds, and other entities and individuals
  • Intragovernmental holdings, held by Social Security, Military Retirement Fund, Medicare, and other retirement funds
Summary

While Uncle Sam has $5.9 trillion in assets, the $129 trillion owed in bills — including military and civilian retirement benefits — means the U.S. is in the hole for $123 trillion. Just the unfunded liabilities in Medicare and Social Security add up to $96 trillion. It is a stunning amount coming due over the next 75 years. The Treasury Department sticks its proverbial head in the sand and does not even list the liabilities on the federal government’s balance sheet.

But not to worry, taxpayers will not actually be paying for this. How could they?

Instead, older people who have been promised these benefits likely will not be paid in full. If we do manage to pay for these promised benefits by some magic, it is young people who would be saddled with trillions in extra taxes with nothing in return.

$200 Trillion: What’s that dollar number about? If one adds the already-existing U.S. debt to the current federal government budget amount that will go unfunded (deficit spending) AND all the spending measures currently on the table under consideration, we could owe ourselves and many other countries $200 Trillion before this decade fades into the sunset! Any way you add these numbers, even if the total is less than $200 Trillion, it is virtually impossible to paint a picture of the United States EVER paying its debts in total. In fact, the interest alone on such debt is mind-boggling:

  • One percent interest per year on just $1 Trillion is $10 Billion.
  • Multiply that annual debt payment by 200 to get our total annual debt on what we owe today and the additional projected to be added over the next nine years.
  • The annual interest on that debt at one percent is $2 Trillion each year!

By the way, the total annual gross revenue of the federal government for the last fiscal year was $3.42 Trillion.

In other words, we’re broke.

Is There a Solution?

The only realistic one that comes to mind is to increase our gross revenue and decrease our total spending. That’s a novel idea, isn’t it!?! We do that in our homes and businesses. But, for some reason, the federal government operates as if the blank checks in the Federal Treasury checkbook are still in abundance. That must mean there’s plenty of money in the Government checking account. So they keep writing checks.

Realistically, getting out of this debt picture will certainly never happen in our lifetimes, the lives of our children, their children, and then their grandchildren. Most economists pessimistically project that the nation has gone too far on its constant spending binges to pay its debts.

What are the inevitable results of all this? I don’t want to paint a bleaker picture, so leave it at this: Regardless of whether our debt can ever be paid, we need to immediately begin balancing our annual budget, if for no other reason, to start spending wisely. After all, what type of example are our national leaders setting for this and future generations of young Americans who will be forced to shoulder this burden of debt?

Our forefathers started this process of tax and spend ethically and financially sound. It wasn’t until elected officials realized that they control all the rules on taxing, collecting, and spending taxpayer dollars. They quickly realized THEY are the financial bosses over all Americans. Even though they technically work for us, we allowed them to be the signers on our bank account, so they don’t have to get our specific permission to issue checks. And issue checks they do!

The only thing I know that we can do (other than pray) is to bombard your Senators and Representatives about stopping the incessant spending sprees! NOTHING is free — someone always has to pay. And if they do NOT heed or warnings, send them packing in the next election.

To Download Today’s (Friday, May 7, 2021) “TNN Live” Show, click on this link:

Saturday Bullet Points: January 11, 2020

Wow! 2020 is not even two-weeks old and the news has taken off: Impeachment, Soleimani and Iraq attacks, Iran destroying a Ukraine jet with a missile, and Democrat hatred not just for Donald Trump but now for Trump supporters! What else can happen?

Don’t worry: there’s a lot of 2020 remaining. This year is certain to be full of breathtaking “gotcha'” moments, especially in Washington. And each Saturday, TruthNewsNetwork will bring to you a synopsis of that week’s news in bullet points. You’ll be able to scan the headlines we present, and for those stories about which you want details, click on a link for complete details.

Let’s get started!

Bullet Points

These should catch you up on the really big news on a national scale for the week. Enjoy that Saturday morning cup of coffee and scan the headlines and/or read the in-depth details of whatever stories catches your interest.

Have a great weekend!

How Much Money Do You Have?

Am I the only one who is past tired of all the insults and allegations being tossed around over and over again, day after day, and hearing and seeing no reason for the noise? Washington D.C. has become a cesspool of corruption. No party, no group, no individual is exempt. There’s plenty of room for the craziness.

Add to that the two dozen Democrats vying for the presidency who seem to daily play the game of “one-up” on their counterparts: “I’m going to promise a new car for every family if I’m elected,” or “I’m going to promise a new car PLUS a new home for every family if I’m elected president.” 

I cannot imagine a world in which any of them — and I mean ANY — could assume residency in the White House. God Help Us!

I know several people who are so concerned about a possible president out of the Democrat Party they have steadily socked away money — “just in case.” It’s amazing that any American would be so concerned about an election. But it’s happening.

But if it does, which would it be? It really doesn’t matter. If anyone of this bunch were to win the White House in 2020, all that money socked away won’t last long. In fact, the plans that all of those candidates share is to take it all! They’d be forced to. Why? To pay for everything they’ve promised.

If we ALL put ALL of our money together, we don’t have enough money!

We’ve heard of high taxes. We even saw a top marginal tax rate of 70% for the calendar year 1979. I bought a home that year. Do you remember the home mortgage rates when Ronald Reagan beat Jimmy Carter for the White House? Fifteen percent! And the prime interest rate was 18%!

Even though tax rates were so high, Congress implemented a massive number of deductions which brought the effective rates which people paid way down. But, taxes were high and the nation’s economy reflected that. But if anyone of the Democrat candidates wins the presidency, we are certain to see taxes again at that 70% rate or even higher.

What are they thinking? Do you really want to know?

Here’s the list of what these candidates are collectively offering to the nation if they are elected:

1. Payment of reparations for slavery;
2. A new wealth tax of 3% per year on assets;
3. Late-term abortion – up to the moment of birth;
4. Restoration of voting rights for released felons;
5. Impeachment of President Trump;
6. Raising the top personal income tax rate to 70% (from the present 37%);
7. Refusal to repudiate anti-Semitism by Democrat members of Congress;
8. Free college tuition for all;
9. Medicare for all (Note: It’s not really Medicare; it’s Medicaid.)
10. Raising the corporate tax rate to 35% (from the present 21%);

11. Abolition of the Electoral College;
12. Amnesty for illegal aliens;
13. No gun rights for released felons;
14. Capping interest rates on all credit cards;
15. Packing the Supreme Court by adding up to four new justices;
16. Federal jobs guarantee to everyone;
17. A minimum wage of $15 per hour;
18. Infanticide: “Make the baby comfortable while deciding whether to kill it.”
19. Impeachment of Justice Kavanaugh;
20. Voting rights for felons still incarcerated (including Dzhokhar Tsarnaev);

21. Citizenship (voting rights) for illegal aliens;
22. Voting for 16-year olds;
23. Green New Deal including no air travel or cows and one car per family;
24. Abolish ICE – US Immigration and Customs Enforcement;
25. Deep cuts to defense spending;
26. Abolishing senate filibusters;
27. Single-payer government health care for all;
28. Federal licensing and control of all large corporations;
29. Strict new gun control measures including confiscations;
30. Federalizing all voter registration;

31. Abolishing or changing the method of representation in the US Senate;
32. Ending all private health insurance and health insurance companies;
33. Reinstituting the Iran nuclear deal;
34. Statehood for DC, PR, VI, Guam: 8 new senators; 14 new electoral votes;
35. Tearing down existing walls on our southwest border with Mexico;
36. Raising the estate tax rate to 77% (from the present 40%);
37. Rejoining the Paris Climate Accord;
38. Raising the payroll tax by 2.4 points – equivalent to 15%;
39. Means-testing Social Security;
40. Taxing capital gains as ordinary income;

41. Removing all caps from the payroll tax;
42. Taxing unrealized capital gains each year;
43. Jailing corporate executives for regulatory violations;
44. A cash distribution of $1,000 per month to everyone (UBI);
45. Forgiveness of all student loan debt – $1.5 trillion;
46. Federal payment to teachers of $315 billion over 10 years;
47. Outlawing all state right-to-work laws;
48. Increase fuel economy standards for all cars;
49. Halt all energy leases on federal land;
50. Spending $5 trillion (unspecified) to control emissions;

51. Opposition to nuclear energy (cleanest energy we have);
52. Creation of new Americorps – to plant trees on marginal land;
53. Prohibiting the private practice of medicine (Medicare for America bill);
54. Federal licensing of all firearms – must be renewed every 5 years;
55. Abolition of payday loans – by mandating ultra-low interest rates;
56. Have the USPS (postal service) make low-interest loans to consumers;
57. The imposition of a VAT – value-added tax – on the entire US economy;
58. Added 7% corporate tax on reported income higher than taxable income;
59. Free government-provided health care for all illegal aliens;
60. Legalization of recreational marijuana throughout the United States;

61. Require companies to obtain equal pay certificate from the US EEOC;
62. Dictate national paid leave policy for the entire private sector;
63. Mandate federal preclearance for states to pass any new abortion laws;
64. Federal taxpayer funding of abortions (repeal of Hyde Amendment);
65. Breakup Google, Apple, Facebook, and Amazon;
66. New exit tax of 40% of assets for any American giving up citizenship;
67. The federal government pays all rent for anyone in excess of 30% of income;
68. Abolishing all private prison management companies;
69. Free childcare, pre-school, college and 100% student loan forgiveness.

Summary

I actually feel like I am really asleep having reoccurring nightmares night after night. And I pray each night that NONE of those nightmares comes true.

Folks, let’s deal with reality: NONE OF THOSE PROMISES, YET ALONE ALL OF THEM, CAN POSSIBLY COME TRUE! The federal government does NOT have enough money!

Forget the social issues promises: none of those are even remotely possible. And when it comes to new social programs, the federal government could confiscate ALL the income of every company and every individual each year and have less than five percent of the funds necessary to pay for even a small portion of these programs!

What is happening to the United States? Who in their right mind just 8 years ago could project that these conversations could even be happening. Those on the Left who propose such programs led by anyone — pick ONE — of those presidential wannabes have either no concept of financial reality at all or believe Americans are so stupid, so uncaring, so intellectually deficient that we would allow any of this to happen.

AOC and Company think environmentally we have just ten years left. If one of these Democrats wins the 2020 election, we won’t last three years!

NOTE: Make sure you come back tomorrow. We’ll peel the onion that’s called “Baltimore” and give the truth of the issues there minus the emotional mantra that’s flooded the nation the last few days. And the “Truth” in Baltimore’s situation is stark, unnerving, and disgusting.

Play

Stock Market “Only Rich People:” Want the Truth?

We hear it every day from President Trump: the stock market is at its highest value ever. The stock market continues to climb to record levels with stock prices soaring and those who own those stocks are making millions in the market. But then we see headlines like these:

“The Top 10% Own 80% of the Stock Market,” “The Richest 10% of Americans Now Own 84% of All Stocks,” and “Dow Hits 21,000, Trump Touts StockMarket Success.” I’m certain it comes as no surprise to you that the experts stood in line in the Fall of 2016 making horrific predictions of what the election of Donald Trump would turn United States economics into if he were to be elected.

It might come as a surprise to you that these numbers are NOT factual. (Who would think Mainstream Media would report to Americans fake news?) Let’s look at some “Dire predictions” and actual stock market results. Then will tell you who really invest in markets — and it ain’t just the Rich!

Predictions: Experts Aren’t Always Right

Remember the dire predictions from stock market experts during the 2016 campaign warning us all that the Stock Market would tank if Donald Trump won the White House? Actual REAL experts jumped into the fray with everything they had, foretelling the Trump gloom and doom:

  • Mark Cuban. “I can say with 100 percent certainty that there is a really good chance we could see a huge, huge correction,” Cuban told CNN. “That uncertainty potentially as the president of the United States — that’s the last thing Wall Street wants to hear.”
  • Erik Jones. “You would see incredible pressure on stock prices if Trump wins and everyone flooding into rare metals like gold and into bonds” in the U.S., Germany and the United Kingdom, Erik Jones, professor at the Johns Hopkins University School of Advanced International Studies, told Politico’s Ben White.
  • Justin Wolfers and Eric Zitzewitz. “Given the magnitude of the price movements, we estimate that market participants believe that a Trump victory would reduce the value of the S&P 500, the UK, and Asian stock markets by 10-15%,” University of Michigan professor Wolfers and Dartmouth professor Zitzewitz wrote in a report that supposedly scientifically forecast the market’s reaction to Trump’s victory
  • Andrew Ross Sorkin. The New York Times columnist and CNBC anchor wrote: “In all likelihood, a Trump victory would lead to a swift, knee-jerk sell-off. Many investors will choose to sell stocks and ask questions later.” In fairness to Sorkin he hedged his belief in the sell-off by writing: In truth, it’s impossible to predict how the markets would settle into a Trump presidency, despite the speculation on all sides. In all likelihood, it will take time for investors to truly make sense and “math out” how his policies would affect the economy.
  • Lawrence G. McDonald of ACG Analytics hedged also, predicting a massive sell-off followed by a relief rally. “Trump will create a colossal panic, but the relief rally will be outstanding,” he told Sorkin. Well, he got the rally right, anyway.
  • Simon Johnson, a former chief economist of the IMF, a professor at MIT Sloan, a senior fellow at the Peterson Institute for International Economics, and co-founder of a leading economics blog, The Baseline Scenario had perhaps the most panicked reaction, in keeping with his status as America’s most authoritative economists. “With the United States’ presidential election on November 8, and a series of elections and other political decisions fast approaching in Europe, now is a good time to ask whether the global economy is in good enough shape to withstand another major negative shock. The answer, unfortunately, is that growth and employment around the world look fragile. A big adverse surprise – like the election of Donald Trump in the US – would likely cause the stock market to crash and plunge the world into recession,” Johnson wrote on October 29, 2016.
  • Ian Winer, Bridgewater Associates, Tobia Levkovich, Macroeconomics Advisors are all proven stock market experts who each projected dire economic happenings in U.S. and World financial markets if Donald Trump was elected president in 2016.

Would you like the “Rest of the Story?” Here are the results that ALL of the experts failed miserably to predict that certainly cost many Americans opportunities to pocket huge stock market profits:

Dow Close 11/7/2016: 17,888.28
Dow Close 7/18/2019: 27,222.97

In the midst of all the pessimistic projections by the above experts and many others, let’s compare the Dow numbers close the day before the 2016 election with today’s numbers. I’ll warn you: They’re not quite what the experts told Americans the results of a Trump victory would look like. Trump’s election instigated a Dow Jones increase of 9334.69 points or 52.2%.

How does that interpret into real dollars? a $50,000 investment in the market the day before the election — 11/7/2016 — would be worth $76,000 on 7/18/2019.

With all of this success the U.S. stock market has had, why is it only the rich and super-rich in the United States that can invest in stock markets? After all, 2020 presidential candidates Elizabeth Warren, Corey Booker, Joe Biden, and others have made demeaning all those rich white millionaires and billionaires a fundamental in their campaigns. It’s just not fair! They have presented to Americans multiple promises to make multiple important parts of Americans’ lives free: free college, free healthcare, government payoff of all college tuition loans. Free, Free, Free!

How can the government pay for all of these programs? Simple: just tax those super-rich Americans who get richer and richer simply by having investments in the stock market.

Guess what: that will not work. The super-rich collectively don’t make enough money that if all was confiscated by the federal government would pay for these programs. Besides that, the money pot to which those billionaires owe their financial success to — the stock market — is NOT a party-place of the super-wealthy. What 2020 Democrat candidates are preaching to America about the stock market and the evil rich is not the truth! The wealthy don’t fly solo when it comes to stock market investing. There are others who benefit from market investments if not to the same level as the wealthy stockholders, almost the same.

So If Not Just Millionaires Who Invests in Stocks?

In 2018, 55 percent of adults in the United States invested in the stock market. While that is a slight increase from the last two years, it remains below the levels before the Financial Crisis, having peaked at 65 percent in 2007.

It’s easy to think that the stock market is the playground of hedge funds and day traders, but in reality, most of the stock market is owned by the average joe. In fact, the largest chunk is doing one thing: helping people retire. In a white paper, Steven Rosenthal and Lydia Austin of the Tax Policy Center have broken out exactly which kind of investors own the stock market. They found that a majority of corporate stock is owned by different types of retirement plans, the largest being IRAs and defined-benefit plans. Of the $22.8 trillion in stock outstanding (not including US ownership of foreign stock and stock owned by “pass-through entities” such as exchange-traded funds), retirement accounts owned roughly 37%, the most of any type of holder.

Labor Unions

If the stock market is so risky, then why does virtually every union pension fund in America invest the bulk of their assets in the “risky” stock market? Gone are the days when America’s major union pension funds invested most of their money in Las Vegas and Atlantic City. They are doing the smart thing by investing workers’ pension funds in real assets that will grow in value over time and be there when its time to pay workers’ retirement benefits.

According to the Federal Reserve, state and local government employee pension funds alone have nearly $3 trillion in assets, 66 percent of which is invested in corporate equities (i.e.: stocks). Indeed, 30 of the nation’s 50 largest pension funds are public employee pension funds. According to Pensions and Investment Magazine Online, these 30 funds have $1.5 trillion in assets, 60 percent of which is invested in the stock market. Remarkably, 13 percent of their assets are invested in foreign stocks. So much for “buy American.”

Most of the trade unions have made similar investment decisions:

  • The Western Conference of Teamsters Pension Trust has 40 percent of its $22 billion in assets invested in domestic stocks.
  • The United Mine Workers Retirement Fund has more than 44 percent of its $7.5 billion in assets invested in domestic stock and 8 percent invested in foreign stocks.
  • The Bakery and Confectionery Union Pension Fund has 57 percent of its $5.2 billion in assets invested in domestic stocks and 7 percent invested in foreign stocks.

How about federal employees, who can choose where to invest their money through the Federal Thrift Savings Plan – the government workers’ version of a 401(k)? The TSP now has more than $85 billion in assets, 59 percent of which is invested in the stock market. Although federal employees can also choose to invest in government bonds, they’ve chosen to invest only 5 percent of their TSP funds in government bonds. Meaning, when given the choice between the stock market and government bonds, federal employees overwhelmingly choose the market.

The value of U.S. pension funds at the end of 2015 was $21.7 trillion. The funds’ managers prudently manage assets in a method meant to ensure that retirees receive promised benefits. For many years this meant that funds were limited to investing primarily in government securities, investment-grade bonds, and a small amount placed in blue-chip stocks. Changing market conditions and the need to maintain a high rate of return have resulted in pension plan rules that allow investments in most asset classes.

Summary

Facts matter, don’t they? All of these facts take us to the point we surely are asking collectively, “Why are Democrats telling the nation over and over that the super-rich ‘OWN’ the stock market and that average Americans have no part of the investment products those billionaires are using to get rich?” The answer is simple: Democrats for all the freebies they have previously, are now, and will in the future promise to those who vote Democrat require massive amounts of new money not from just Democrat voters, but ALL Americans to fund. How does that funding occur? Through tax revenue to the federal government. How does the government get that revenue? Confiscation from Americans and American companies. So they target the most wealthy, painting wealthy Americans as “evil” Americans who are greedy, selfish, and oblivious to the lives of average Americans.

The truth? Democrats in Congress are oblivious to the needs of average Americans!

Democrats during every election cycle concentrate on two things: the demonization of conservativism and conservatives, and the best way to find voters who will give them power so as to maintain control of as much of government as possible.

Democrats all know how important the stock market is to Americans in every financial classification. They know most Americans have stock market investments through their employers on which they rely for retirement. They spin the lie to denigrate wealthy Americans so as to justify increasing taxes.

How good and fair is the stock market? How evil are Democrats for screaming that Americans who make money through stock market investments? I close today with a tidbit of factual information that illustrates Democrat Party lies. Read this and decide for yourself:

U.S. Sen. Elizabeth Warren (D-Mass.) invested as much as $100,000 in the stock market the day after billionaire Republican Donald Trump won the 2016 presidential election.
Warren, a progressive standard bearer who recently held a town hall on income inequality in America, purchased between $50,000 and $100,000 worth of shares in the Vanguard 500 Index Admiral (VFIAX) fund on November 9, 2016, according to financial disclosures filed with the Senate Clerk. At the time of Warren’s investment, VFIAX shares were trading around $200 a share; at publication time of this story, those shares were trading for more than $250 a share.  Warren’s capital gain on the investment could have been as much as $25,000.

During the campaign, Warren sharply criticized Trump’s economic plans as unfair to the poor and overly favorable to the wealthy.

Hypocrisy in the Worst Way!

 

Play

Remember: Banks Too Big To Fail? Part I

Not much is known by average American citizens about banking — other than depositing money, withdrawing money, obtaining a loan to buy a car or home improvements. But as you can imagine, there’s a whole lot more to banking than that.

Many people are afraid of banks and bankers, simply because there is so little known about them and how they operate. The “unknown” always leads to fear and concern, especially when the unknown is a mysterious person or a group of mysterious people. Certainly that applies to the entities and people who control the collection and distribution of pretty much all the cash on Earth.

Americans have watched the news the last decade in which financial scandal after scandal have been exposed in the banking community. And then there was the Bush 43 bailout of almost every bank in the U.S. that was underwritten by the American people. In most cases, that bailout helped to avoid a U.S. financial explosion initiated by unsafe bank investments in shaky and heretofore unexplored financial areas. Those were called “derivatives.” For the sake of time we will not go into that near-collapse or derivatives themselves.

What we DO know for certain is that most of the World banking operations are controlled (and many are owned) by a small number of people. Hints of that fact occasionally have appeared in media reports, but usually only when there’s some type of financial boondoggle that happens on a small scale. But did you know banking in the U.S. is controlled primarily by a very small group of powerful individuals and families? Not only that, but the mystical “Federal Reserve” is the principal entity used by the purveyors of U.S. finance on every level to direct and control all things pertaining to finance.

Today and tomorrow  we will take a look at those entities, families, and people who control each of our financial lives in two parts. You’ll be shocked, but you’ll be educated. It is important for all to know exactly what’s going on to the best of our ability. And that includes banking.

You may be tempted to let details here get boring to you. Don’t! Over the next decade, what you know about banking may save your retirement and protect your children and grandchildren. All these names we list are important. Some you’ve heard before, others not. But make some notes. You will hear ALL these names (at least of those still alive) throughout news reports in coming days and months.

8 Families ”Own” the U.S.

Let’s start with the Rockefellers. You may be surprised that they certainly are into banking, but there into much, much, more!

Companies under Rockefeller control include Exxon Mobil, Chevron Texaco, BP Amoco, Marathon Oil, Freeport McMoran, Quaker Oats, ASARCO, United, Delta, ITT, International Harvester, Xerox, Boeing, Westinghouse, Hewlett-Packard, Honeywell, International Paper, Pfizer, Motorola, Monsanto, Union Carbide and General Foods.

The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in conjunction with Deutsche Bank, BNP, Barclays and other European old money giants.

Their monopoly over the global economy does not end at the edge of the oil patch. According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.

So who then are the stockholders in these money center banks? This information is guarded much more closely. Inquiries to bank regulatory agencies regarding stock ownership in the top 25 U.S. bank holding companies were given Freedom of Information Act status, before being denied on “national security” grounds. This is rather ironic, since many of the bank’s stockholders reside in Europe. One of the biggest entities that owns these bank holding companies is U.S. Trust Corporation – founded in 1853 and now owned by Bank of America. A recent U.S. Trust Corporate Director and Honorary Trustee was Walter Rothschild.

Other directors included Daniel Davison of JP Morgan Chase, Richard Tucker of Exxon Mobil, Daniel Roberts of Citigroup and Marshall Schwartz of Morgan Stanley. J. W. McCallister, an oil industry insider with House of Saud connections, wrote in The Grim Reaper that information he acquired from Saudi bankers cited 80% ownership of the New York Federal Reserve Bank — by far the most powerful Fed branch — by just eight families, four of which reside in the U.S.

They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York, the Rothschilds of Paris and London, the Warburgs of Hamburg, the Lazards of Paris, and the Israel Moses Seifs of Rome.

CPA Thomas D. Schauf confirms McCallister’s claims, adding that ten banks control all twelve Federal Reserve Bank branches. He names N.M. Rothschild of London, Rothschild Bank of Berlin, Warburg Bank of Hamburg, Warburg Bank of Amsterdam, Lehman Brothers of New York, Lazard Brothers of Paris, Kuhn Loeb Bank of New York, Israel Moses Seif Bank of Italy, Goldman Sachs of New York and JP Morgan Chase Bank of New York.

Schauf lists William Rockefeller, Paul Warburg, Jacob Schiff and James Stillman as individuals who own large shares of the Fed. The Schiffs are insiders at Kuhn Loeb. The Stillmans are Citigroup insiders, who married into the Rockefeller clan at the turn of the century. Eustace Mullins came to the same conclusions in his book The Secrets of the Federal Reserve, in which he displays charts connecting the Fed and its member banks to the families of Rothschild, Warburg, Rockefeller and the others.

The control that these banking families exert over the global economy cannot be overstated and is quite intentionally kept in secrecy. Their corporate media arm is quick to discredit any information exposing this private central banking group as “conspiracy theory.” Yet the facts remain.

Banking History

In 1903 Banker’s Trust was set up by the Eight Families. Benjamin Strong of Banker’s Trust was the first Governor of the New York Federal Reserve Bank. The 1913 creation of the Fed fused the power of the Eight Families to the military and diplomatic might of the U.S. government. If their overseas loans went unpaid, the powerful banks could now deploy U.S. Marines to collect the debts. Morgan, Chase and Citibank formed an international lending syndicate. The House of Morgan was cozy with the British House of Windsor and the Italian House of Savoy. The Kuhn Loebs, Warburgs, Lehmans, Lazards, Israel Moses Seifs and Goldman Sachs also had close ties to European royalty.

By 1895 Morgan controlled the flow of gold in and out of the U.S. The first American wave of mergers was still a baby and was being promoted by the bankers. In 1897 there were sixty-nine industrial mergers. By 1899 there were twelve-hundred. In 1904 John Moody – founder of Moody’s Investor Services – said it was impossible to talk of Rockefeller and Morgan interests as separate. Public distrust of the group spread.

Many considered them traitors working for European old money. Rockefeller’s Standard Oil, Andrew Carnegie’s U.S. Steel and Edward Harriman’s railroads were all financed by banker Jacob Schiff at Kuhn Loeb, who worked closely with the European Rothschilds. Several Western states banned the bankers. Preacher William Jennings Bryan was three-times the Democratic nominee for President from 1896 -1908. The central theme of his campaign was that America was falling into a trap of “financial servitude to British capital.” Teddy Roosevelt defeated Bryan in 1908, but was forced by this financial-fear wildfire to enact the Sherman Anti-Trust Act. He then went after the Standard Oil Trust.

That same year Mrs. Edward Harriman sold her shares in New York’s Guaranty Trust Bank to J.P. Morgan, creating Morgan Guaranty Trust. Judge Louis Brandeis convinced President Woodrow Wilson to call for an end to interbank bank directors. In 1914 the Clayton Anti-Trust Act was passed. Jack Morgan – J. Pierpont’s son and successor – responded by calling on Morgan clients Remington and Winchester to increase arms production. He argued that the US needed to enter WWI. Prodded by the Carnegie Foundation and others, Wilson followed through.

The House of Morgan financed half the U.S. war effort, and got commissions for lining up contractors like GE, Du Pont, US Steel, Kennecott and ASARCO. All were Morgan clients. The 1919 Paris Peace Conference was presided over by Morgan, which led both German and Allied reconstruction efforts.

House Banking Committee Chairman Louis McFadden (D-NY) said of the Great Depression, “It was no accident. It was a carefully contrived occurrence…The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.” Sen. Gerald Nye (D-ND) chaired a munitions investigation in 1936. Nye concluded that the House of Morgan had plunged the U.S. into WWI to protect loans and create a booming arms industry.

In 1937 Interior Secretary Harold Ickes warned of the influence of “America’s 60 Families.” Supreme Court Justice William O. Douglas stated this, “Morgan influence…the most pernicious one in industry and finance today.” Jack Morgan responded by nudging the U.S. towards WWII. Morgan had close relations with the Iwasaki and Dan families – Japan’s two wealthiest clans – who have owned Mitsubishi and Mitsui, respectively, since the companies emerged from 17th Century shogunates.

When Japan invaded Manchuria, slaughtering Chinese peasants at Nanking, Morgan downplayed the incident. Morgan also had close relations with Italian fascist Benito Mussolini, while German Nazi Dr. Hjalmer Schacht was a Morgan Bank go-between during WWII. After the war Morgan representatives met with Schacht at the Bank of International Settlements (BIS) in Basel, Switzerland. The House of Rockefeller BIS is the most powerful bank in the world, a global central bank for the Eight Families who control the private central banks of almost all Western and developing nations.

The first President of BIS was Rockefeller banker Gates McGarrah — an official at Chase Manhattan and the Federal Reserve. McGarrah was the grandfather of former CIA director Richard Helms. The Rockefellers — like the Morgans — had close ties to London. David Icke writes in Children of the Matrix, that the Rockefellers and Morgans were just “gofers” for the European Rothschilds.

BIS is owned by the Federal Reserve, Bank of England, Bank of Italy, Bank of Canada, Swiss National Bank, Nederlandsche Bank, Bundesbank and Bank of France. Historian Carroll Quigley wrote in his epic book Tragedy and Hope that BIS was part of a plan, “to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole…to be controlled in a feudalistic fashion by the central banks of the world acting in concert by secret agreements.”

The US government had a historical distrust of BIS, lobbying unsuccessfully for its demise at the 1944 post-WWII Bretton Woods Conference. Instead the Eight Families’ power was exacerbated, with the Bretton Woods creation of the IMF and the World Bank.

Summary

I know, I know, this was a lot of “stuff” — information. I’ll bet you knew very little about the U.S. Banking system and its history. That’s something that every American should not only know, but understand.

As the World Currency system is in transition — yes, there are serious conversations about President Trump taking the U.S. currency back to its former gold-backed status — and you need to understand how that will impact you. The best way to be prepared for future events is know the history so as to make certain the future is the best it can be made.

The Federal Reserve as always been a mystery to most. What is it? How does it function? Who controls it?  Part II of this will complete the banking history but will put you right in the middle of exactly where we stand today and how it directly and indirectly impacts us all. And we’ll break down in layman’s terms the secrets of the Federal Reserve.

 

Money, Money, Money!

How good or how bad is the economy? That depends who you listen to.

Democrats have made it very clear their objectives (regarding taxpayer dollars) are to first take back the “crumbs:” as Pelosi calls the employee bonuses and the increase in working folks’ take-home pay because of tax cuts. Then they want to RAISE taxes — not back to Obama-levels — but even higher.

If you watch or listen to Mainstream Media, you must think we are either in the tank or headed that way. It matters not to the talking heads what this economy means to Mainstream AMERICANS — those who number among the working Middle Class. Who in the Middle Class cannot use an extra $1000, $1500, or $2000 bonus paid by employers? Who in the Middle Class cannot enjoy having a few extra hundred dollars a month in their payroll deposit? Yet Pelosi and company totally denigrate all of that money that has found its way into the pockets of Americans. Why? They feel that all that money does NOT belong to Americans. It belongs to the AMERICAN GOVERNMENT. Every dollar that goes to Americans means that dollar is taken from the government!

Facts

Large companies are bringing jobs of all kinds — especially manufacturing jobs — back to America. This comes after Obama told us that the “Obama Economy” was the “new” American economy and that manufacturing jobs were gone for ever. But:

  • Insulet Corporation manufactures insulin delivery systems. In 2017 the company announced it would be moving the production of its flagship product — the Omnipod, a tubeless, waterproof insulin pump — from China to a new facility in Acton, Massachusetts. Insulet cited the area’s skilled workforce and rising labor costs in China as reasons for the move. If Insulet meets earnings expectations for the next several years, the new facility could employ as many as 1,500 workers by 2021.
  • In a January 2018 meeting with President Donald Trump, Amgen CEO Robert Bradway announced that the firm was planning to add 1,600 manufacturing jobs in the U.S. The announcement came several years after the biopharma company cut approximately 15% of its workforce and closed two U.S. manufacturing facilities in 2014 as part of major cost-saving efforts. Most recently, Amgen announced in February 2018 that it would invest $300 million in a new U.S. biologics plant that would employ approximately 300 workers upon completion. An April 2018 recent press release from the company named West Greenwich, Rhode Island, as the site of the new facility.
  • In July 2017, the White House announced that Merck, along with pharmaceutical manufacturers Pfizer and Corning, have committed to making a joint investment of at least $4 billion in pharmaceutical glass manufacturing in the U.S. The partnership will focus on the manufacturing of advanced pharmaceutical glass packing, a technology used in the storage of injectable drugs, as well as vials and cartridges, and is projected to lead to the direct hiring of 4,000 U.S. employees across the three companies. Merck also recently reshored approximately 300 jobs as part of its efforts to consolidate its overseas  operations in the U.S. The company relocated the headquarters of its animal health division from Boxmeer, the Netherlands to its campus in Summit, New Jersey in 2013 as part of a larger restructuring effort.
  • On Jan. 3, 2017, Ford announced plans to cancel a new $1.6 billion plant planned in San Luis Potosi, Mexico. Opting not to relocate production outside of the country saved approximately 3,500 U.S. jobs, according to a Ford press release. Instead, 700 additional new jobs will be created from a $700 million expansion of a Michigan plant focused on building high-tech electric and autonomous vehicles along with the Lincoln Continental and Mustang. In June 2017, Ford announced that it would move its U.S. production of the Ford Focus to China in 2019 without causing a loss of U.S. jobs. Ford already makes the Focus in China for Chinese buyers. But by September 2018, Ford had changed its plans to import the small car to the U.S. from China due to the expense of import tariffs that the Trump administration implemented in July.
  • At Trump’s post-election victory rally in Grand Rapids, Mich., on Dec. 9, 2016, the spotlight wasn’t just on the President-elect. Dow Chemical’s Chairman and CEO Andrew Liveris announced the company was bringing jobs to the Great Lake State. The CEO took the stage to describe the company’s’ more than 100-year history in Midland. “We aren’t stopping there,” Liveris said at the rally. “Tonight, in honor of the President-elect and his being here to thank you all, we’ve made a decision.” Liveris described the new state-of-the-art center that will add several hundred jobs to the 7,000 Dow already provides in the community. “We’re going to use American hard work and American brains,” said Liveris. The center will bring 100 jobs to Midland, plus restore 100 lost to foreign operations.
  • It’s likely that the Jumbotron you’re watching at the stadium was made by Trans-Lux. The manufacturer of LED digital displays and lighting planned to eventually bring its Chinese production facilities back to the U.S. However, Trump’s promises of tariffs on products manufactured in other countries sped up the move, according to the company’s website. For the past two decades, the company has manufactured much of its products in Shenzhen in Southeast China. As China’s business economy grew, expenses for labor and shipping increased, triggering the company’s plan for an eventual move back to America. Trans-Lux announced it was “getting ahead of the curve” by shifting more of its production to the U.S. on Dec. 7, 2016. On Jan. 6, 2017, it announced its intent to move 100 percent of its manufacturing to the U.S. The company pledged to move the majority, if not all, of its China operations into a leased warehouse in Hazelwood, Mo. The move includes a $650,000 forgivable loan from the city of Hazelwood. Trans-Lux reported the facility will employ 90 people within four years. The company also stated that one of the two operations of the company’s Fair-Play division, housed in a 68,000-square-foot plant in Des Moines, Iowa, was also set to move to Hazelwood.
  • Although telecommunications company Sprint has its roots firmly planted in American soil, 84.94 percent of its shares belong to the Japanese company SoftBank. But that didn’t stop President-elect Donald Trump from negotiating returning jobs to American soil with Masayoshi Son, the billionaire chairman of Sprint and SoftBank’s CEO. After a private meeting on Dec. 7, 2016, the mogul pledged to create 50,000 new American jobs and invest $50 billion in the U.S. On Dec. 28, 2016, Sprint issued a news release announcing its commitment to bring back or create 5,000 American jobs in 2017. In January of 2017, Sprint announced the creation of 100 new jobs at subsidiary Virgin Mobile’s headquarters in Kansas City, Mo., by summer.

I could go on an on listing several hundred companies who — because of tax cuts and the availability of skilled American workers — are moving into or back to the U.S. with their operations. Most all are investing billions of tax savings in expansion, new infrastructure projects, and in new employees and with pay hikes.

And one more note: consider Apple. Apple held $400-$600 Billion dollars of earnings offshore. Why? Because to move that money back into the U.S. meant massive tax obligation on that money. The repatriation deal negotiated by President Trump resulted in Apple (and other similar large companies in similar situations) to not only move that cash to the U.S., but to announce and initiate major investment in growth, expansion, and new manufacturing centers that have already started hiring tens of thousands of Americans. Remember this story:

During a PBS town hall that aired during the 2016 presidential campaign, Obama referenced Trump’s promise to bring back jobs to the United States when talking about manufacturing.

“Well, how exactly are you going to do that? What exactly are you going to do? There’s no answer to it,” Obama said.

“He just says, ‘Well, I’m going to negotiate a better deal.’ Well, what, how exactly are you going to negotiate that? What magic wand do you have? And usually the answer is, he doesn’t have an answer.”

During a speech a days later, the former president bashed one of Trump’s central arguments that international trade and immigration have hurt American voters. He called Trump’s pledge to roll back Wall Street regulations “crazy.”

“That will not help us win,” Obama said of Trump. “That is not going to make your lives better.” 

Many not just on the left, bashed Trump’s commonsense plans to jump-start the American economy and take it back to its hopeful past. But even establishment Republicans laughed at Trump’s promises and predictions. But as was said by Deon Sanders about such things, “It ain’t bragging if you can do it.” He wasn’t referenced the President but his own prowess at being one the greatest NFL receivers of all time.

So How is that Trump Economy doing, Mr. Obama?

The federal government collected record total tax revenues of $252,692,000,000 in October, the first month of fiscal 2019, according to the Monthly Treasury Statement.

This October’s record $252,692,000,000 in total tax collections was $11,414,590,000 more that the federal government collected in October 2017, which was the previous record for federal tax collections in October.

Although the total federal taxes collected this October set a record, the individual income taxes that the federal government collected in October did not set a record. This October, the Treasury collected $128,866,000,000 in individual income taxes. In October 2017, the Treasury collected $131,056,520,000.

Corporation income tax receipts, however, were significantly higher this October than they were in October 2017. This year, the Treasury collected $8,000,000,000 in corporation income taxes in October. Last year, it collected $3,823,060,000.

The $8 billion in corporation income tax revenues the Treasury collected this October is the largest amount since October 2015, when the Treasury collected $10,893,630,000 in corporation income taxes.

Excise taxes and customs duties also increased. In October 2017, the Treasury collected $7,651,250,000 (in constant October 2018 dollars) in excise taxes. This October it collected $14,715,000,000.

In October 2017, the Treasury collected $3,320,700,000 (in constant October 2018 dollars) in customs duties. This October, it collected $5,551,000,000.

Social Security and other payroll taxes also increased slightly rising from $86,137,330,000 last October to $86,553,000,000 this October.

Despite the record tax collections, the government still ran a deficit of $100,491,000,000 for the month—because it spent $353,183,000,000.

That last line is critical: the President does NOT control government spending — Congress does. President Trump initiated policy changes that did not need Congressional action. That is what initiated the massive revenue increases.

Did you notice that individual taxpayers actually paid lower income taxes than in October 2017? That was done by design: “lower taxes on the Middle Class” was Trump’s promise. Mainstream Media, however, lied to Americans and preached for almost two years that the Trump tax cuts reduced taxes for big corporations and raised taxes on the Middle Class. Exactly the opposite is true: taxes on individuals DROPPED $3 Billion in October 2018 while corporate taxes went sky-high — $4.2 Billion more than they paid in 2017!

Summary

  1. Trump made powerful economic projections;
  2. Obama poo-poo’ed every Trump projection;
  3. Trump’s GDP projections were “as high as 4%);
  4. Obama said “1% GDP was the ‘new norm’ for the U.S.;
  5. Trump’s economic projections have either played out just as his prediction or have actually exceeded his projections;
  6. Obama is STILL throwing dirt over the President’s economic policies, actually taking personal credit for Trump’s economy;
  7. GDP under Trump is above 3% with experts predicting as high as 5% “IF” the Fed does not raise rates so high as to kickstart inflation.

What will it take for the Left to finally let-up on the President and at least give him some credit for economic improvements. I know those Mainstream Media talking heads think what they tell us is what we will believe and think Americans do not perceive the truth. Sadly, many Americans allow just that to happen. But the truth will out!

Be alert and be cautious: do not swallow anything you hear from anyone in the media. Research and investigate for yourself. There are plenty of trustworthy sources for real news. Ferret them out.

And one more thing: just in case you haven’t heard, the economy is really doing well! And it will continue to do so as long as Democrats in the House do not get stupid with financial policies like trying to raise taxes and roll-back Middle Class tax cuts. Do they think Americans are so stupid as to not sort out the facts from the drivel from the Media?

They really believe that! Shhh…..don’t tell them you know better. They think they’re the only ones that can read a real financial report and understand it. They assume everybody is stupid!

That may be the truth…IN THEIR WORLD! But certainly not in yours.

Keep watching and searching at www.TruthNewsNet.org