Social engineers. Photo: Andrew Harrer/Bloomberg via Getty Images The Trump tax cuts are zipping through Congress at the legislative version of light speed. House Republicans unveiled their plan for overhauling America’s tax code on November 2; they passed it two weeks later. The Senate GOP revealed its (actual) tax bill last Tuesday; Mitch McConnell plans to vote it out of the upper chamber the week after Thanksgiving. The frenetic pace of the GOP’s tax “reform” push has left some of the party’s own members short of breath. “You’re rewriting a tax code for a generation, and you are doing it in ten days,” Republican congressman Peter King said Thursday. “In , it took two years to put together a tax reform bill.” King’s exasperation is warranted. A couple of weeks might be enough time for legislators, policy analysts, and voters to consider the legislation’s first-order effects: Whose taxes will go up, … [Read more...] about How the Trump Tax Cuts Would Reshape (and/or Break) Our Economy
Your tax dollars at work
Between meeting the Queen of England and Vladimir Putin, President Trump will spend this weekend at Turnberry, the golf course he bought in 2014 and rechristened Trump Turnberry. This property has not received the attention it deserves. It is, by far, the biggest investment the Trump Organization has made in years. It is so much bigger than his other recent projects that it would not be unreasonable to describe the Trump Organization as, at its core, a manager of a money-losing Scottish golf course that is kept afloat with funds from licensing fees and decades-old real-estate projects. No doubt, the President will be excited to visit. After buying the property for more than sixty million dollars, he then spent a reported hundred and fifty million pounds—about two hundred million dollars total—remaking the site, adding a new course, rehabbing an old one, and fixing up the lodgings. It is possible, though, that he will have some harsh words for his staff. The Turnberry has … [Read more...] about Where Did Donald Trump Get Two Hundred Million Dollars to Buy His Money-Losing Scottish Golf Club?
The Department of Justice is launching a federal investigation into Planned Parenthood’s practices and its alleged involvement in the sale of body parts of aborted babies. Justice Department Assistant Attorney General for Legislative Affairs Stephen Boyd has formally requested unredacted documents from the Senate Judiciary Committee, reports Fox News. According to the news report, the letter requesting the documents – sent to committee chairman Sen. Chuck Grassley (R-IA) and ranking member Sen. Dianne Feinstein (D-CA) – “is a rare confirmation of a federal investigation.”“The Department of Justice appreciates the offer of assistance in obtaining these materials, and would like to request the Committee provide unredacted copies of records contained in the report, in order to further the Department’s ability to conduct a thorough and comprehensive assessment of that report based on the full range of information available,” Boyd wrote in the … [Read more...] about Department of Justice Launches Federal Investigation into Planned Parenthood
Sens. Elizabeth WarrenElizabeth Ann WarrenButtigieg surges ahead of Iowa caucuses Biden leads among Latino Democrats in Texas, California Following school shooting, Biden speaks out: 'We have to protect these kids' MORE (D-Mass.) and Sherrod BrownSherrod Campbell BrownSunday shows — New impeachment phase dominates Brown confirms he won't enter 2020 race: 'I think it's a good field' GM officially sells Ohio plant, months after Trump touted sale MORE (D-Ohio) are pressing the IRS about a study the agency commissioned to review its “Free File” program, raising concerns that the report viewed the program too favorably.“Despite Free File’s serious and well-documented failures, the report makes the extraordinary suggestion that Free File has been a success,” the senators wrote in a letter this week to IRS Commissioner Charles Rettig, first reported on by The Hill. ADVERTISEMENTThe free-file program is a partnership between the IRS and tax-preparation … [Read more...] about Warren, Brown press IRS on study reviewing ‘free file’ program
Workers of the bourgeoisie, unite — you have nothing to lose but a fraction of your pre-tax income! Photo: Alex Edelman/AFP/Getty Images The Democratic Party has never been more reliant on the support of upper-middle-class voters than it is today. And the economic fortunes of affluent Americans — and those of the typical working-class household — have rarely been more disparate. These twin developments have inspired much commentary about the class tensions beneath Team Blue’s “big tent” — with many progressive pundits worrying that the party’s growing dependence on the votes of comfortable professionals could render it incapable of mounting an adequate response to runaway inequality. That fear has a basis in reality. As the American labor movement declined over the second half of the 20th century — and many white working-class voters lost their attachment to the Democrats (and/or to voting, at all) — the party began … [Read more...] about Affluent Democrats Aren’t an Obstacle to Economic Populism