Either it's real hot out there or the world is moving at an ever increasing rate. There have been so many idiotic moments in the past few days, my head is spinning. Below is a brief guide to just a few.
1. The Looming Recession.
More and more respected economists are predicting a recession in the coming twelve to eighteen months. Powerful economic indicators point in that direction. Cadet bone spurs vehemently denies a recession is going to happen and claims it cannot, because his tax cuts, which nearly entirely went to the uber rich have left so much money in everyone's hands that a recession cannot possibly happen.
Huh?
Let's start with the obvious point. If you give tax breaks to people that don't need them, they are not going to spread the wealth. This has been proven over and over again, but remains one of his big talking points, using, of course, only the best words. If you give an uber rich person a huge tax break, they are going to buy an island as a further tax shelter or just pocket the money. If you give it to a corporation, they will either stockpile the money, give their executives a raise or buy back their stock, thereby increasing the value of the stock, and, shock of shocks, increase the value of the holdings of their executives. The people who need something extra usually end up with a combination of nothing or next to nothing. They are the ones spending money. If they do not have anything extra, there is no extra spending money for them to go out and spend the country's way out of a recession.
2. The Looming Recession 2.
After saying there is no looming recession, he now says he is thinking of lowering the payroll tax and the tax on sales of assets to fight off that which he says is not going to happen.
Personally, this is my favorite of the entire bunch of this stuff. For those who have been paying attention, we have seen this one before.
He wants to cut the payroll tax. Ok. More money right away in the pockets of those who are not self-employed. Here's a hint -- Those of us, or at least most of us who are self-employed do not pay a payroll tax. We pay ourselves out of the proceeds of our businesses. We do not write payroll checks for ourselves. We do not maintain payroll accounts for ourselves. We pay our taxes in other ways, like quarterly estimates. The self-employed -- like the cadet bones spurs before he became president -- are primarily not going to be effected by this.
But I digress...
He wants to cut payroll taxes. Those whose paychecks are effected by the payroll tax may cheer. At least his supporter will. More money in the pocket with each paycheck. Great!!! But...
He is not cutting the federal income tax rates. Only Congress can do that. So you have more money in your pocket with each paycheck, but come April 15, you still have to pay your taxes, and those taxes are the same annual rate as before. If you have not put the extra money aside to pay those taxes, you will dig deeper into your pockets when you prepare your annual return. The result? You have not saved any money at all, and will probably be scrambling to pay what you owe. If you need an extension, you will end up paying interest on what you owe; therefore, you will have ultimately paid more.
He wants to pair this with a cut in the rate charged for sales of assets. Most of us are not selling assets. This something that only really rich guys, corporations and self-employed do. Note as well that cutting the rate on the sales of assets, unlike cutting the payroll tax, is something that will be reflected in an annual tax return; therefore, it is not recaptured by the government come April. So the rich guys, the corporations and the self-employed once again get a break while the rest of us get an illusion.
So to fight off a recession that he says is not going to happen, he is doing what he always does... cutting payroll tax without changing income tax rates, so that most people who are not paying attention will end up paying more in April, and then cutting taxes on sales of assets, which is something that mostly only rich guys and corporations are concerned with.
Bottom line -- he is proposing another tax cut for the rich to fight off a recession that he says is not going to happen, while the rest of us in the long run get nothing.
And here's another hint --
If you cut tax rates, any tax rates, without replacing it with another funding source, the budget deficit grows further. The growing deficits and associated debt owed by the government is only one factor, but it is a factor causing economists to predict the looming recession. So in other words, to fend off a recession he says is not going to happen, he is proposing something that is contributing to the belief that a recession is going to happen.
3. The Looming Recession 3.
He told his adoring fans in New Hampshire that their 401(k)s will be useless if he does not win the election. It appears that may be the case anyway, so instead of putting somebody in office who might stave economic disaster off, we might as well stick with what we know and let it happen.
4. Greenland Uber Alles.
He wants to buy Greenland. Let's repeat that one.
He wants to buy Greenland.
It's a really big real estate deal.
Bigly even.
And he's really, really good at really bigly real estate deals.
He promises he will not build a golden tower with his name on it if he is allowed to buy Greenland, which means if he does buy Greenland, we can expect to see a mostly empty tower with his name on it somewhere near Greenland Beach, with a boarded up casino on the first floor occupied primarily by puffins and polar bears some time in the next twenty years.
Denmark will not sell him Greenland.
So, in a huff, he cancels a state meeting with the Danish prime minister after saying that the sale of Greenland was not on the meeting's agenda.
Let's face it. Buying Greenland will cost a lot of money. But then again, we would be buying it from Denmark.
Denmark.
The mighty fighting Danes.
I bet it would cost less if we just invaded Denmark and took it. You think the mighty fighting Danes are going to take us on/? Over Greenland? It's war I say!! If you thought 'The Mouse that Roared" was good fiction, just wait until you see the great non-fiction, the shock and awe of "The Great Danes that Barked'!! Greenland would be ours faster than winning a trade war or finishing Al Queada could ever be!!!
He wants to buy Greenland...
5. The Loyal Jew.
He now says any Jew who does not vote for him is ignorant and disloyal. I was not aware that voting choice was a sign of loyalty to one who does not demonstrate an iota of loyalty to anything except himself.
A note to cadet bone spurs...
Not every Jew is enamored with everything Israel does, even if we are proud to be Jews. Being a Jew, an American Jew, does not equate to being an Israeli. You can love being an American. You can love being a Jew. You can love Israel, and still not approve of everything the Israelis do, especially when bullied by this president, who does not have a clue as to what being a Jew is, is a completely ignorant buffoon, and has not a single drop of loyalty to anything in his body other than to himself.
Not every Jew is enamored with everything America does, even if we as Jewish Americans are proud of our country. There is no loyalty oath required to be recited in this country. That is covered by the First Amendment. I am not required to be loyal to you. I will not be loyal to you, even if, as a Jewish American, I am loyal to my country when you are not.
As I said in another forum, if voting for him is a sign of loyalty, you may as well accuse me of treason.
Voting for him is something that ain't never going to happen with this Jew. I would venture to say it ain't going to happen with a single member of this Jew's family either. While I would not call any of us ignorant, I will cheerfully identify us all as disloyal. Every one of us.
So deport us.
Every. Single. One. Of. Us.
I will have my bags packed and ready. I will sell my assets and take the tax break. I will move my remaining assets to wherever I go, including my 401(k) that is now worthless because I am not voting for you. Once I move, I will not be paying your taxes, thereby contributing to the looming recession, which is not going to happen anyway. At least my tax dollars are not going to go towards the purchase of Greenland.
He wants to buy Greenland...
