Corporate Taxes

“Build Back Better” Social Infrastructure Legislation Passes The House of Representatives!

Congratulations are due to Speaker of the House Nancy Pelosi, President Joe Biden, and the Democratic Caucus in the House of Representatives on successfully passing the “Build Back Better” Social Infrastructure legislation by a vote of 220-213, after a disgraceful eight and a half hour rampage speech by House Minority Leader Kevin McCarthy, and the refusal of any House Republicans to support legislation which makes life better for millions of Americans!

The legislation, once it gains approval of the US Senate with some modifications certain, will do the following:

Affordable Child Care
Child Tax Credits
Paid Family and Medical Leave
Universal PreKindergarten
Affordable Care Act Premium Tax Credits
Medicaid Home and Community Based Services
Raise State and Local Tax Deduction Cap
Medicare Hearing Benefits
Affordable Housing
Immigration Reform
Clean Energy and Climate Resilience
Climate Related Tax Breaks
Spending on Higher Education
A Corporate Minimum Tax on Large Corporations
A Tax Surcharge Targeting the Wealthiest Americans, over $25 million and over $10 million.

The Public Utterances Of Larry Elder, Potential California Governor, After Recall Election On September 14!

Larry Elder, the right wing talk show host, and an African American, seems likely to be the major threat to the tenure of California Governor Gavin Newsom in the upcoming Gubernatorial Recall election on Tuesday, September 14.

What is his record of beliefs and statements?

He is an ardent supporter of Donald Trump, regularly praising him on Twitter.

Elder has argued Trump is not responsible for the January 6, 2021 Insurrection.

In a 2000 book, he called for:

abolishing the Internal Revenue Service
creating a national sales tax
reduce government by 80 percent
end welfare and entitlements
abolish the minimum wage
eliminate corporate taxes

Also, he has condemned Lyndon B. Johnson’s “War on Poverty”; thinks the ideal minimum wage is ZERO; has condemned labor unions, and said many teachers are incompetent and should be fired; and prefers charter and private schools to public schools.

Elder also is anti abortion; anti gay; thinks California is “soft on crime”; and is a denier of climate change and the dangers of second hand tobacco smoking.

He is also against mandates on COVID 19 and masks; and sees no problem with mass rallies held by Donald Trump. Additionally, he has made highly controversial remarks on women, very misogynistic in nature.

So Elder would be a nightmare for California, and could gain the power to select the replacement for Dianne Feinstein, who might leave soon due to dementia, and that would change the political balance in the US Senate!

Seven Republican Presidents Who Raised Taxes On The Wealthy

We are in the season of Republican Presidential candidates and the Republicans in the Congress railing against any rise in taxes on the wealthy, no matter how minor. Instead, we have the reckless, irresponsible proposals of Herman Cain and Rick Perry in recent days, which would LOWER taxes further on the wealthy and starve the government from being able to do anything other than defend the nation and pay the interest on the national debt, a totally insane proposition!

They claim they are following Republican tradition, but they are defying the facts of history.

Seven Republican Presidents raised taxes on the wealthy, and understood the need to do so, and the fairness of it.

Abraham Lincoln created the first federal income tax to finance the Civil War.

William Howard Taft endorsed the 16th Amendment, the federal progressive income tax, which became part of the Constitution at the end of his term in early 1913.

Herbert Hoover raised the top income tax rate from 24 to 63 percent in 1932, in the worst moments of the Great Depression.

Dwight D. Eisenhower argued for and succeeded in a top income tax rate over 90 percent during the 1950s, in order to help promote a balancing of the budget.

Richard Nixon raised the capital gains tax rate from 25 to 35 percent in 1969, and supported the concept of a minimum tax.

Gerald Ford signed legislation raising the minimum tax on the wealthy, and getting rid of some loopholes used by the wealthy to evade taxes.

Ronald Reagan supported the idea of capital gains being taxed as ordinary income, and raising taxes on corporations.

So it is a lie to say that Republicans historically have supported lowering of taxes on the wealthy and corporations.

The only effect of what the GOP promotes today is the DESTRUCTION of the federal government in a time when it is more needed than ever since the worst days of the Great Depression!

Sarah Palin On Third Anniversary Of VP Nomination: Don’t Forget Me As I Exploit My Celebrity And Gain Attention!

Former Vice Presidential nominee and former Alaska Governor Sarah Palin showed up in Indianola, Iowa, on Saturday, on the third anniversary of her becoming a national figure.

Reading from a text, she issued attacks on Barack Obama, saying he had not been fully vetted, an interesting statement, since she herself had not been fully vetted, and had John McCain done so, he would have chosen someone who was qualified in an emergency to become President of the United States.

Palin has exploited her brief moment on the national stage for all it is worth, demonstrating she is a good capitalist, while at the same attacking “crony capitalism”, implying her criticism of Republican front runner Governor Rick Perry of Texas. It seems as if she is jealous of Perry having a lead, when every poll shows only a very small percentage, including the adoring fans who showed up at the political rally, interested in her running for President!

The odds of her running are slim, as she well knows she has no chance to be our President, but she seems unwilling to drop the idea altogether, so kept the crowd wondering if she would announce for President by the end of September, which is really the deadline if one is to build a campaign organization, which she has taken no steps toward creating.

Palin gave her own prescription for economic recovery, showing she has no clue to the reality of our economy. She called for the following:

1. Repeal the Obama Health Care plan.
2. Cut back federal regulations.
3. Increase domestic energy production.
4. Give more spending authority to state governments.
5.Eliminate all corporate income taxes.

Palin also criticized Establishment Republicans who attack the Tea Party as a group of “hobbits”, which meant she was attacking her former running mate, Senator John McCain, without mentioning his name!

She also attacked the “permanent political class”, referring to those who have held public office a long time, including Rick Perry, and by implication, John McCain.

Apparently, the fact that she had LESS political experience than Barack Obama in public office, and quit as Alaska Governor in the middle of her one term, even evoking surprise this week from former Vice President Dick Cheney, is seen by her as a plus, but by no one else who has any brains in their head!

So Sarah is basically just saying she does not want to be forgotten, and is exploiting her celebrity, and gaining attention from those who have no clue as to how to run a government and take responsibility for serious problems and issues!