President for the all People: More Likely for the Top Crust Thus the Con Continues

A picture worth $1.5 Trillion

(For whom and how much)

Trump's tax cut promise vs. Trump’s tax cut reality: No match – not even close – not one bit. Below are a few hard facts with this linked headline:

Elites are thriving under Trump

A few highlights from the story:

People faring best under the Trump presidency and recent tax bill are those more likely to be his peers and his guests at Mar-a-Lago NOT the “forgotten men and women” that he campaigned on and who believed his BS and then voted for him.

(I Note: Forgotten men and women, for sure – forgotten by him).

The average Wall Street bonus hit an 11-year high of $184,220 report from the New York State comptroller in part due to the profits by Wall Street trading firms that rose 42% in 2017, to the highest level since 2010.

Public U.S. companies are on track to buy back a record $800 billion worth of their own shares this year – a new record according to J.P. Morgan Chase.

(I Note: Share buybacks generally boost the value of stocks — since they reduce the supply of shares — and that boon for shareholders – again, who is buying back all those shares)?

The Trump tax cuts include rate reductions in virtually every tax bracket, but they provide much bigger savings for the wealthy than for anybody else. An average middle-income family will save about $930 per year in lower taxes – the top 5% will average $13,48, the top 1% will see a $51,140 break and for the top 1/10th of 1% a whopping $193,380 cut.

A bit desert (for some) to “spread the wealth around as they say:” Some 200 companies gave out one-time bonuses – with most of them giving out around $1,000.

Story continues here – call it: The good, the bad, and more of the ugly as it were.

My 2 cents: As noted in the piece, most Americans say the tax cuts haven’t produced a meaningful improvement in their bracket or pockets.

Finally, on top of all that, this startling news from The Hill: Trump is privately pushing for the Pentagon to pay for his wall using funds from the recently passed budget that increased DOD overall with him saying: “It is a national security issue.” 

I simply say: BS. 

Thanks for stopping by.