First here is a quick word about Puerto Rico. This is from The Washington Times:
Puerto Rico Gov. Ricardo Rossello Nevares last month asked (US) taxpayers to shell out $94 billion to pay for Puerto Rico’s recovery from Hurricane Maria — then turned around and paid out about $100 million in Christmas bonuses to island government employees.
So here is the Nikitas3.com response to Nevares and to his socialist mentality – drop dead. Your $94 billion figure is bloated with corruption and your $100 million in bonuses is a slap in the face to your own suffering people.
And to all of the Puerto Ricans who have come running to the US since the hurricane – go home and fix your corrupt island. You can use that $100 million for starters.
Now here is today’s main commentary:
It is amazing how a simple tax reduction and reform plan like the recent Trump/Republican bill can cause the liberals to go insane. From their reaction you would think that president Trump had sent up concentration camps for Democrats.
This tax bill simply goes in the wrong direction for Democrats. They are accustomed to automatically jacking up taxes without discussion or opposition. Example: After the 2008 economic meltdown Massachusetts increased is sales tax rate overnight from 5% to 6.25%. New York now has an 8.25% statewide sales tax, which is hammering the people there, particularly lower-income people. Liberal California now has a 7.25% to 9.25% sales tax rate. In the 1950s the US had a top federal tax rate of 90%!
Meanwhile Florida is thriving economically today because it has no state income tax, i.e., low taxes are attracting wealth and jobs. Much of the American economy has moved to the low-tax states in the South after the Democrat taxers, along with labor unions and regulators, gutted the industrial economy of the north.
Here is a Golden Rule that has been proven over and over throughout history: Low taxes stimulate economic growth and create prosperity and optimism. Period. End of story.
President Ronald Reagan cut tax rates on the wealthiest earners by 60%. Liberals caterwauled that this would cause revenues to the federal treasury to sink like a stone but the opposite happened. Revenues actually increased a whopping 91% over the next seven years in a booming economy.
So why are liberals so catatonic about the Trump tax plan if it is going to reduce taxes for the middle class and corporations, stimulate the economy, create millions of jobs and more tax revenue, and make life better for so many Americans?
Answer: Democrats want the economy totally controlled by the government no matter how bad it gets, and they want Americans dispirited and depressed so as to manipulate us emotionally.
Let’s look at another reason that liberals are going insane:
President Trump’s tax plan does something that most Americans don’t understand, but that liberals are furious about – it eliminates the deductibility of state and local taxes. Democrats and high-taxed Democrat states are howling. Why?
OK, imagine you earn $1 million. In California, imagine that you pay 13% of that in state taxes or $130,000 since that is the top California rate.
Under the current system, before the Trump tax plan goes into effect, you can subtract (deduct) that $130,000 from your $1 million before you calculate your federal taxes, i.e., you would pay federal taxes on $870,000 and then take your other deductions.
This current deductibility allows rich liberals in heavily-taxed states to pay less in federal taxes than the rest of us.
How? Well, imagine that you live in a state like Florida which has no state income tax. Imagine you earn $1 million. Under the current system you have to pay federal taxes on $1 million.
In other words people in low-tax states are subsidizing people in high-tax states since the people in high-tax states are not paying the same share of federal taxes as people in low-tax or no-tax states.
This new Trump proposal will actually force rich people in Democrat states to pay higher taxes. Democrats should cheer this increase in taxes on “the rich” but they are not since it is biting them personally and big time.
This plan is going to suck a lot of money out of rich Democrats’ pockets, out of Democrat campaign contributions, and out of Democrat states. Good. It is also going to speed up the exodus of wealthy people from liberal high-tax states like New York.
President Trump is right to eliminate this deductibility. We must stop forcing conservative states to subsidize rich liberals in high-tax liberal states.
Now here are some of the hysterical reactions from Democrats to the Trump tax bill which was passed on December 2 by the Senate. Each reaction is followed by a Nikitas3.com comment:
House Democrat leader Nancy Pelosi:
No this is the end of the world. The debate on health care is life or death. This is Armegeddon. This is a really big deal. Because you know why? It’s really hard to come back from this.
Nikitas3.com comment: Yes, it will be hard for Democrats to make Americans depressed and poor again once they get good jobs under Trump.
California governor Jerry Brown:
The most immediate evil of this cynical maneuver called the tax bill is to further divide America when we’re at one of our most divisive periods in history… if you can’t come together when one team, who has a couple vote majority in the Senate, is acting like a bunch of Mafia thugs, it’s not right and it won’t stand.
Nikitas3.com comment: The real ‘thugs’ run states like California, which is hard-left. Every statewide office is Democrat. They steal everything in sight just like the mafia does.
Filmmaker Michael Moore:
The Republican Party is the enemy of the American people. The Senate just passed the Trump Tax Increase, 1:50am, enriching the 1% & concentrating wealth in the hands of the few. Capitalism & Fascism. The coup is underway. Make no mistake about it.
Nikitas3.com comment: Hey, Mike, you’re in the Top 1%. Remember?
2016 presidential candidate Bernie Sanders:
Historians will look back on Dec. 1, 2017 and conclude this was one of the great robberies in US history because Republicans are looting the Treasury.
Nikitas3.com comment: Democrats have been looting America for decades with $150 TRILLION in handouts in the last 60 years, even for illegal aliens.
Liberal commentator Kurt Eichenwald:
America died tonight. Economic suicide adopted to feed the insatiable greed of donors, who have been refusing to dole out $ to GOP until they got their tax cuts. Voters fooled by propaganda and tribal hatred. Millenials: move away if you can. USA is over. We killed it.
Nikitas3.com comment: Millennials would have been better off moving away under Obama, when there were few jobs, lousy jobs or no jobs for them.
Patton Oswalt (comedian):
Is there any going back after this #TaxBillScam? To America? Does it matter now if Trump is impeached? There’s no America now. Not the one we knew. Sorry, feeling real despair this morning
Nikitas3.com comment: You should feel despair. Try winning an election. It feels great.
Comedian Chelsea Handler:
What Republicans did last night to the poor and middle class in this country to reward huge corporations and the very wealthy is sickening. So, for all the religious beliefs you hold, rewarding the people who fund your campaigns must be somewhere in the Bible.
Nikitas3.com comment: The middle class gets tax cuts and jobs from the Trump bill. ‘Huge corporations’ will bring back millions of jobs to the US with a lower tax rate. Chelsea Handler’s TV show was just cancelled. All of this is good news.
These comments from liberals are insane but what else can we expect. This is just more Trump Derangement Syndrome. But wait! There’s more!
The Euro socialists are now telling us that we in the United States should not be allowed to make our own tax policies. Bloomberg News Service reports:
European Union finance ministers will discuss U.S. legislation to slash taxes at a meeting in Brussels Tuesday and whether the new plan violates international trade rules.
The centerpiece of the tax bill that passed the U.S. Senate over the weekend is a reduction in the corporate tax rate to 20 percent from 35 percent. The bill still needs to be reconciled with a version passed by the House of Representatives before it can be signed into law by President Donald J. Trump.
“There are some elements of preoccupation — some discriminatory measures — and the possibility that some parts of the reform will violate World Trade Organization rules,” Spanish Economy Minister Luis de Guindos said in Brussels on Monday. “I will request the commission to make further analysis of the potential consequences of the tax plan.”
The Republican-led effort to reform the U.S. tax code has caused jitters beyond Europe’s borders, with Chinese officials expressing concern that a sweeping policy shift could cause a negative market impact domestically. The tax issue will be discussed over breakfast at a meeting of EU finance chiefs in Brussels, European Commission Vice President Valdis Dombrovskis told reporters on Tuesday.
The socialistic EU really fears that the tax reduction is going to be successful and that more nations are going to reduce taxes in order to make their economies better, particularly high-tax European nations with stagnant economies and high unemployment.
The biggest economy in Europe, in Germany, is only growing .8%this year. The US is over 3% this year and will grow 4% and more next year with the Trump tax plan.
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