Kleptocratic, Kakistocratic President Proposes to Enrich Himself and His Class With Targeted Tax Cuts

Supposedly, ‘everybody’ would get tax relief. Today’s NYT article says,

But the vast majority of benefits would accrue to the highest earners and largest holders of wealth, according to economists and analysts, accounting for a lopsided portion of the proposal’s costs.

“The only Americans who are very clear winners under the new system are the wealthiest,” said Edward D. Kleinbard, a law professor at the University of Southern California and former chief of staff of Congress’s Joint Committee on Taxation, which estimates the revenue effects of tax proposals.

Repealing the estate tax, for example, would affect just 5,300 or so fortunes a year. For 2017, couples can shield up to $11 million of their estates from any taxation, leaving only the largest inheritances subject to taxation. Repealing the estate tax alone would cost an estimated $174.2 billion over a decade, the nonpartisan Tax Policy Center said.

Reducing the rate on capital gains, noncorporate business taxes and those in the highest bracket, as well as repealing the alternative minimum tax, would also ease the burden on wealthier Americans. So would the repeal of the Affordable Care Act’s 3.8 percent surtax on the investment income of high earners, put in place to subsidize health coverage for low-income Americans.

“These are all afflictions of the affluent,” Mr. Kleinbard said.

There is no way to know how the mathematics of the proposal would work, since the White House offered no cost estimates, no detail about which incomes would be taxed at what levels and no information about tax deductions or other breaks that might be eliminated to make up for the lost revenue.

You may recall that without the Alternative Minimum Tax, Trump would have paid no taxes at all during the one year for which his IRS Form 1099 was leaked.

By the way, a Kleptocracy is ‘government by the thieves’ and Kakistocracy is ‘government by the very worst elements’ or ‘government by the shitheads’.

US Cruise Missiles Hit Syrian Air Base

Conclusion of a NYT information article on last night’s strikes: “The decision to launch an attack was a major reversal for Mr. Trump, who criticized former President Barack Obama in 2013 for considering strikes against Syria after a previous chemical attack.” 
There is no side with clean hands there that I know of – not even the far-left Kurdish groups. (I understand that the latter groups are quite happy with the American support that they receive. Who knows how long that will last?)
An engineer I know from Lebanon said that she didn’t really understand why groups were fighting to overthrow Assad in the first place — after all, education and medical care in Syria (up to the start of the civil war) were free and quite good.
No American newspaper or media agency of any sort that I know of has reporters on all sides of the various front lines; most don’t have a single reporter anywhere inside Iraq. We know from the first and second Gulf wars against Iraq that embedding reporters with any one side necessarily means that the information that comes out from those reporters will be slanted towards that side — or else the reporter is declared persona non grata or worse (arrested, tortured, deported, or even murdered). Let us remember that being an honest reporter can be very, very dangerous. If correspondent tells the truth and it hurts somebody, repercussions can be quite severe. To be called an ‘enemy of the people’ and ‘the most dishonest people ever’ by the politician who has told more bald-faced lies than any other figure I can think of in American history, is threatening.
One thing I like about this map – from IS Janes  via the NYT – is that the colors are much better than usual, so you can see who controls what territory.
syria
%d bloggers like this: