"President Trump is implementing his economic agenda for the country. He wants continued low taxes, deregulation, inexpensive energy and a strong manufacturing base. He is advancing his agenda as quickly as possible. Mostly the signs are positive, except for his tariff policy. His recent tariff actions have caused the stock market to lose about 15% of its value. That certainly is not making anyone wealthier.
"The Senate passed an extension to the tax cuts originally passed in 2017. The hope is that the House of Representatives also passes this legislation which Trump will quickly sign into law, keeping tax rates low.
"Those who oppose the extension of the tax cuts, and opposed the initial passage, say that these cuts are simply a tax cut for the wealthy and do nothing to help the middle or lower classes. The reality is that this tax cut treated nearly all taxpayers the same.
"In 2017 Trump said he wanted to pass tax relief that was fair. So, he cut tax rates for all taxpayers by 10%. Except for those who lost their State and Local tax deduction, every taxpayer paid 10% less. That seems fair to me.
"Of course, if an individual was paying $2,000,000 in taxes annually, the tax cut was $200,000. If a taxpayer paid $2,000 annually, the tax cut was $200, which is why the opponents say this is a tax cut for the rich.
"Still, the tax cut was proportional and fair." . . .
AOC Celebrated Amazon's Pullout; Cuomo Said It Cost 25K Jobs | TIME "Rep. Alexandria Ocasio-Cortez declared victory when Amazon announced Thursday that it would not build a second headquarters (known as HQ2) in Queens, New York. Gov. Andrew Cuomo called it a “lost economic opportunity” and blamed “a small group [of] politicians [who] put their own narrow political interests above their community.”
The dispute between the two Democrats lays bare a divide over the plan to offer $2.8 billion in tax breaks for Amazon to establish a major presence in New York City. On one side, old hands like Cuomo; on the other, the newly insurgent, left-leaning wing represented by Ocasio-Cortez.
“Today was the day a group of dedicated, everyday New Yorkers and their neighbors defeated Amazon’s corporate greed, its worker exploitation and the power of the richest man in the world,” Ocasio-Cortez wrote on Twitter. The new development would have been in the Long Island City neighborhood of Queens, near Ocasio-Cortez’s district.
The outspoken freshman Congresswoman was a critic of the deal Cuomo and Mayor Bill de Blasio had brokered with Amazon.
Cuomo and other supporters of the project said that Amazon would have brought more than enough investment to the city to justify the tax breaks, and would have established New York as a tech hub to rival other hubs like San Francisco.
Additionally, he said, HQ2 would have brought “at least 25,000-40,000 good paying jobs for our state and nearly $30 billion dollars in new revenue to fund transit improvements, new housing, schools and countless other quality-of-life improvements.” . . .
We have seen what AOC's generation has done during the George Floyd riots and are currently doing at Tesla dealerships. All of this lending credence to Sen. Kennedy's statement about shampoo bottles. TD
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