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Repeal of Tax Cut Would Cost Americans
$27K in Take-Home Payby Business Review Board
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FBI confirms recovery of all known
packages mailed to Trump foes
by Anna Giaritelli.
dummycrats-Dems, bruised by scumbag/liar-nObamacare fight,
skeptical of Trump siding with them on drug prices
by Robert King.
A Giant Pile of Money
by Roger Hodge
{theintercept.com} ~ Thousands of Kentucky public school teachers swarmed the state Capitol earlier this year, angry not about low salaries, but about their shrinking pensions... Among their concerns: the high portion of their money that has ended up in the hands of Wall Street in opaque, high-cost products that seem to benefit no one aside from the people who sold them. Rising pension costs helped to send teachers in Colorado into the streets in protest a few weeks later. In the last year, pension woes have also prompted teachers in Ohio and Oklahoma to march. And police, firefighters, and other public employees in Michigan have been staging protests since at least 2016 to preserve their public pensions, more than one-third of which is invested in “alternatives”: private equity, hedge funds, commodities, distressed debt, and other opaque Wall Street investment vehicles. A “Wall Street coup” — that’s how pension expert Edward “Ted” Siedle describes it. Public pensions across the country now squander tens of billions of dollars each year on risky, often poor-performing alternative investments — money public pensions can ill afford to waste. For all the talk of insolvency, $4 trillion now sits in the coffers of the country’s public pensions. It’s a giant pile of money of intense interest to Wall Street — one generally overseen by boards stocked with laypeople, often political appointees. “Time and again,” Siedle has written, “hucksters successfully pull the wool over these boards’ eyes.” In 1974, in the wake of the spectacular collapse of the Studebaker car company and its pension plan, Congress passed a piece of landmark legislation, the Employee Retirement Income Security Act. Under ERISA, companies are required to adequately fund their pensions and follow what was then called the “prudent man” rule, which barred those in charge from putting pension dollars into overly risky investments. The departments of Labor, Treasury, and Commerce were charged with overseeing the country’s pensions and a new body was created, called the Pension Benefit Guaranty Corporation, that would backstop pensions should a business default....
How Mattis turned Trump's hasty border
tweet into something troops can salute
by Jamie McIntyre.
Organizers of Central American migrant caravan
linked to infamous billionaire scumbag-George Soros
by Jerry McCormick.
Repeal of Tax Cut Would Cost Americans $27K in Take-Home Payby Business Review Board: The Heritage Foundation has released a new report finding that if last year’s Republican tax cut is repealed or allowed to expire, it would cost the average American nearly $27,000 in take-home pay over the subsequent decade. As Adam Michel, a co-author of the study, explained, “After 2025, most of the individual tax cuts revert to prior law. The tax cuts expire.” Michel also noted the need “to solidify the current broad-based economic expansion, Congress must make the tax cuts permanent. A series of three new bills that make up ‘Tax Reform 2.0’ have passed the House.” He added, “The package would make much of last year’s tax reform permanent, introduce new simplifications for family saving, and provide a helping hand for new small businesses.”
dummycrats-Democrats who opposed the economy-spurring Tax Cuts and Jobs Act from the very beginning (recall that not a single dummycrats-Democrat voted for the legislation) have pledged to repeal the law should they regain control of the House. This includes current House Minority Leader sick-Nancy Pulosi (D-CA), who has repeatedly derided the tax cuts as everything from “Armageddon” to “crumbs.”
Likely 2020 presidential candidate Sen. lowlife-Kamala Harris (D-CA), seemingly sensing the problem of repealing the tax cuts, recently announced her own tax-credit plan for lower- and middle-income taxpayers. Harris’s plan would replace the current tax cut with a government wealth-redistribution scheme of more direct payouts to the poor. The Tax Foundation analysis of lowlife-Harris’s tax credit proposal estimated that it would cost the government $2.7 trillion over 10 years and — surprise — negatively affect the economy.
But dummycrats-Democrats aren’t about growing the economy with tax policy; they’re about growing a dependent class of voters. No wonder they hate GOP tax cuts.
~The Patriot Post
https://patriotpost.us/articles/59097?mailing_id=3819&utm_medium=email&utm_source=pp.email.3819&utm_campaign=snapshot&utm_content=body
by Business Review Board 
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