Tag: tax reform

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White House Takes Credit For Walmart Bonuses As 63 Sam’s Club Stores To Be Shuttered

Team Trump is taking credit today for announced bonuses (which average $190 per employee) and starting wage increases for Walmart employees.

Not part of the White House credit grab is the news that Walmart is also closing 63 Sam’s Club stores, laying off thousands.

Some folks showed up to work today to find their stores closed with no notice.

Now, which would you rather have – a job or $190?

Comcast pulled a similar bait and switch last month.

So. Much. Winning.

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Ivanka Trump Takes On Propaganda Duty For GOP Tax Scam

Ivanka Trump graced Fox & Friends with her dulcet, mellifluous tones this morning in an effort to sell the GOP Tax Scam passed in Congress yesterday.

You see, it’s not very popular. Up to 55% of Americans oppose it and think it benefits the rich.

Ivanka chatted on what a big “win” the bill is for the middle class and how it will lead to wiping out the national debt.

She also mentioned she will be traveling around the country next April as Americans file their taxes to celebrate the wonderful savings everyone will enjoy.

“I’m really looking forward to doing a lot of traveling in April when people realize the effect that this has,” she said. “The vast majority will be [doing their taxes] on a single postcard.”

Clearly, Ivanka has never filed her own taxes or she would know Americans pay their 2017 taxes in April 2018. The new law won’t affect this year’s taxes.

Oh, and that postcard thing isn’t really a “thing.” Paul Ryan made it up. Folks will still be using at least a 1040EZ to calculate and file their taxes.

I will say this – At least Ivanka isn’t a shrill nails-on-the-chalkboard shrew when discussing these things like Propaganda Minister Kellyanne Conway. And she has nice hair.

Watch the brainwashing below.

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Trump Twitter Rant: Fake News Is Lying About GOP Tax Scam

Desperate to enjoy the passage of the GOP Tax Scam, Donald Trump lashed out at critics (for a change) in today’s Trump Twitter rant:

The United States Senate just passed the biggest in history Tax Cut and Reform Bill. Terrible Individual Mandate (ObamaCare)Repealed. Goes to the House tomorrow morning for final vote. If approved, there will be a News Conference at The White House at approximately 1:00 P.M.

The Tax Cuts are so large and so meaningful, and yet the Fake News is working overtime to follow the lead of their friends, the defeated Dems, and only demean. This is truly a case where the results will speak for themselves, starting very soon. Jobs, Jobs, Jobs!

I’d like to remind you that during the George W. Bush years, there were two massive “tax cuts” that eventually led to the biggest recessions the country has seen since the Great Depression.

Many CEOs are already speaking out saying they have no intention of raising wages or hiring more middle-class employees with the expected funds from these tax cuts.

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House Of Representatives Passes GOP Tax Scam 227-203

From The Washington Post:

The House of Representatives passed Republicans’ sweeping tax overhaul on Tuesday, sending the plan to the Senate and setting the stage for the bill to be signed by President Trump as early as this week.

The bill passed the House 227 to 203. All but 12 Republican members voted for the bill. Zero Democrats supported it.

Senate Republicans are planning to vote Tuesday night. Party leaders appeared to have sewn up the bill’s passage Friday when holdout Republican Sens. Marco Rubio (Fla.) and Bob Corker (Tenn.) pledged their support.

Sen. John McCain (R-Ariz.) is in Arizona battling brain cancer and is not expected to attend the vote, though he has said he supports the bill.

UPDATE: The House will have to hold a re-vote on the tax reform legislation because two provisions in the bill violated the rules governing the legislation. The Senate still plans on voting tonight and the House will vote again tomorrow.

According to The Hill, House Minority Leader Nancy Pelosi (D-Calif.) quickly seized on the Senate parliamentarian’s ruling, saying “the House revote is the latest evidence of just how shoddily written the GOP tax scam really is.”

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Sen. Bob Corker Flips From “No” To “Yes” On Tax Bill Thanks To Real Estate Investment Clause

Sen. Bob Corker

Short version: GOP Sen. Bob Corker, who is retiring, was a “no” vote on the current tax reform legislation.

He’s a multi-millionaire thanks to real estate investments.

Last minute language inserted into tax bill gives a big tax break to real estate investors.

Corker is now a “yes” vote.

From The International Business Times:

The new tax provision would specifically allow owners of large real estate holdings through LLCs to deduct a percentage of their “pass through” income from their taxes, according to experts. Although Trump, who became famous for his real estate holdings, has transitioned into branding in recent years, federal records show Trump has ownership stakes in myriad LLCs.

The new provision was not in the bill passed by the House or the Senate. Instead, it was inserted into the final bill during reconciliation negotiations between Republicans from both chambers. The provision, said experts, would offer a special tax cut to LLCs with few employees and large amounts of depreciable property assets, namely buildings: rent generating apartment and office buildings.

Sen. Bob Corker, who was considered a potential “no” vote on the bill, abruptly switched his position upon the release of the final legislation. Federal records reviewed by IBT show that Corker has millions of dollars of ownership stakes in real-estate related LLCs that could also benefit.

Corker won’t have anyone to answer to once he’s out of office next year except his bank account.

This entire tax reform bill has been cobbled together with NO public hearings in a matter of weeks. Republicans released the legislation at 4:30pm on a Friday with plans to vote on the bill next week.