Tag: bankruptcy

Republican tax plan unveiled

11:03 am

As expected, the Republican leadership has unveiled a new tax proposal that would consolidate the number of tax brackets while increasing the rate of the lowest bracket and increasing the standard deduction.

I admit that I have grown very cynical about these proposals. They never end up simplifying anything. Instead, each time Congress has done this in the past three decades they have only made the tax code more complicated. I see no evidence so far that this Congress and this Republican leadership will do anything different.

Moreover, Congress and Trump continue to make little effort to rein in spending, so I expect the result here will also be a significant increase in the crushing federal debt.

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Republican leaders to introduce tax increase

9:33 am

Failure theater: The Republican leadership in Congress is about to introduce tax increase, increasing the tax rate for the lowest bracket from 10% to 12%, while making believe that it really is a tax cut.

The plan will also increase the tax deduction, which they will then claim means that the tax increase really doesn’t matter.

They really have an utter contempt for the people who voted for them, not unlike the utter contempt being shown right now by the NFL to its customer base. Well, if you spit on your supporters don’t expect them to support you much longer.

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In new Obamacare vote, Republican leaders offering bribes

11:46 am

Finding out what’s in it, part 2: The Senate Republican leadership is offering Senator Lisa Murkowsky (R-Alaska) specific rewrites favoring just Alaska in order to buy her vote on their new attempt to revise Obamacare.

The bribe includes three provisions, but this one I think is most corrupt:

Alaska (along with Hawaii) will continue to receive Obamacare’s premium tax credits while they are repealed for all other states. It appears this exemption will not affect Alaska receiving its state allotment under the new block grant in addition to the premium tax credits.

There are also some indications that this secret bill for which no text has been made public, as far as I can tell, also keeps the Obamacare requirement that insurance companies will not be allowed to deny anyone insurance no matter how sick they are. This is the provision that is essentially bankrupting the industry and forcing premiums to skyrocket. By keeping it, these Republicans reveal their overall support for Obamacare.

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“I am just in shock how no one actually cares about the policy any more.”

8:39 am

The quote above, from this article. is from a Republican lobbyist, and is in reference to the new so-called Obamacare replacement bill being pushed right now in the Senate, not because it will repeal Obamacare but because it will provide Senators a fake vote where they can make believe they repealed Obamacare..

The bottom line: The repeal-and-replace bill sponsored by Sens. Lindsey Graham and Bill Cassidy is gaining steam because it has the appearance of gaining steam — not because of the changes it would make. “If there was an oral exam on the contents of the proposal, graded on a generous curve, only two Republicans could pass it. And one of them isn’t Lindsey Graham,” a senior GOP aide told Caitlin.

I could condemn the Republican leadership here, but the fault actually lies with the press, which is allows them to do this. The number of fake insane bills with “feel good” names in the past two decades that the press has accepted with little analysis is legion. This is only another in that long list.

If you want to find out some real details about this new fake bill, read the whole article. It provides enough information to sicken your stomach about any bill our bankrupt Congress writes.

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Brown University to offer segregated dinners to minorities

12:05 pm

Bigoted academia: Brown University has received a $30K grant to offer segregated dinners for blacks and Muslim women.

The university received a $30,000 grant from the Association of American Colleges and Universities, which represents liberal arts schools, to create a campus center whose mission is to “break down racial hierarchies and create a positive narrative about race in the community,” according to The Brown Daily Herald.

These grants, provided with the assistance of the Newman’s Own Foundation and W.K. Kellogg Foundation, will go towards hosting racially and religiously segregated “dinner discussion groups.” These discussions are being led by Brown University Chaplain Rev. Janet Cooper Nelson, who told The Daily that “one [group will be] for black students and the other [will be for] for Muslim women on campus.”

Democrats created and controlled the south when segregation ruled. They now control all of academia, so no one should be surprised if they are once again encouraging the idea there.

It all comes down to bigotry. Modern academia is obsessed with race, gender, and ethnicity. It is all they see when they look at a person. Thus, it shapes everything they do, including building segregated societies founded on racial and ethnic hate. And we can see the long term result of this in what is happening in St. Louis this week.

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Federal debt tops $20 trillion

10:18 am

The coming dark age: Because of the Democratic/Trump deal raising the debt limit, the federal government’s debt officially topped $20 trillion last week.

From March 16 through Sept. 7, every Daily Treasury Statement showed the total federal debt subject to the legal limit opening and closing each day at $19,808,747,000,000. That was because the previous suspension of the debt limit had expired on March 15 and the debt limit had been reset at the level the debt reached at the close of business that day–which was $19,808,772,381,624.74. The Treasury then started using what it calls “extraordinary measures” to keep the debt subject to the limit about $25 milion below the limit.

This is all a fraud. Not only do they cook the numbers to make the debt ceiling appear legal for as long as possible, the debt is actually far larger, as this doesn’t include the raids to the Social Security trust fund that Congress has routinely been making for the past few decades, and never paying back.

But hey, who cares? What is really important is that we call looters “heroes” and any cops who try to arrest them “racists!”

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Journalist and author claims police actions against looting equals “white supremacy”

10:10 am

Our bankrupt intelligentsia: Journalist and author Sarah Jaffe went on Twitter yesterday to claim that the police effort to catch and arrest looters in Florida is the equivalent of “white supremacy.”

When she was lambasted by numerous other Twitter users for this dumb statement she doubled down, implying (with an obscenity) that her critics were all Nazis.

This minor story illustrates two things. First, that someone as uneducated and thoughtless as this person can get published and be treated as a respected author demonstrates the intellectual bankruptcy of our modern elites. Everything to her is race and bigotry. Capitalism is evil. Anyone who disagrees with her is a racist or a Nazi. Comparing this childishness with the thought processes seen when you read Shakespeare, John Adams, or William Butler Yeats, and you will see that the future of modern western civilization does not look good.

Second, this story shows again why anyone who has any intelligence should avoid Twitter. That venue is not for thoughtful discussion. It is specifically designed to cause people to hurl insults at each other, and only serves to lower the level of our intellectual discourse. And I am not alone in this opinion.

Far more fundamental is the way Twitter intensifies and amplifies pathological social tendencies among those who act within, report on, and write about the political world. It turns politicians, political staffers, reporters, editors, pundits, and analysts into petty, vain, childish, showoffy, hostile, vindictive, dogmatic, impulsive, careless versions of their best and most professional selves. This makes Twitter horrible for our politics and equally bad for journalism. The single best thing for both politics and journalism would be for Twitter to go out of business tomorrow.

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Trump teams up with Democrats on debt limit deal

12:23 pm

Trump today backed a Democratic proposal to only extend the debt limit by three months, instead of the Republican plan to extend that ceiling first 18 months, than six.

While it is clear the Democrats want more debt ceiling negotiations in order to force the Republicans to make repeated concessions each time, I find it disgusting that the Republican leadership is more interested in kicking the can down the road than to address the problem now. In a sense, this might be why Trump is siding with the Democrats, as it keeps the debt ceiling on the table as a political issue, and might eventually force these brainless cowards to eventually do something to gain some control over the budget.

Then again, it might not. It could also be that none of these politicians, including Trump, has any interest in controlling the budget, and are merely playing petty politics with the nation’s future.

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John McCain, Liar

12:55 pm

In commenting about the failure yesterday by Senate Republicans to pass a trimmed down version of an Obamcare repeal by a vote of 49-51, Ted Cruz (R-Texas) has this to say:

There are going be a great many Americans who tonight feel a sense of betrayal. …If you stand up and campaign and say we are going to repeal Obamacare and you vote for Obamacare, those are not consistent. And the American people are entirely justified in saying any politician who told me that and voted the other way didn’t tell me the truth. They lied to me.

He then added:

“No party can remain in power by lying to the American people.”

Cruz is right, but only partly. The entire Republican Party did not lie to its voters. Instead, a small contingent of fake Republicans lied, led by John McCain, king liar and the most likely person to stab a friend in the back I have ever seen.
» Read more

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Republican Senate committee restores all cuts to NASA climate budget

9:31 pm

Failure theater: The Senate Appropriations Committee today marked up NASA’s budget, restoring almost all of the proposed cuts, including cuts to the agency’s climate programs that both the Trump administration and the House had proposed.

The only program it appears the Senate cut was NASA’s planetary program, which they trimmed by almost 25%.

This only provides more evidence that the large number of the Republicans in the Senate are not really Republicans. They certainly aren’t conservative. And it sure appears that they aren’t very smart either, considering that NASA’s planetary program is one of its most successful endeavors.

We shall see how this budget shakes out in the coming months. Overall I am not hopeful. It appears to me that this Republican Congress wants to spend big bucks, and is hell bent on doing it.

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Republican health tweak of Obamacare dead, Senate to vote for straight repeal

10:35 pm

This is a victory: The Republican leadership in the Senate, lacking the votes to pass their own version of Obamacare, have decided to instead go for full repeal.

Senate Majority Leader Mitch McConnell bowed to pressure tonight from conservatives — and President Trump — to bring up a straight repeal of most of the Affordable Care Act as the next step now that the Senate health care bill appears to be dead. It will be based on the repeal bill Congress passed in 2015, which then-President Barack Obama vetoed.

His statement: “Regretfully, it is now apparent that the effort to repeal and immediately replace the failure of Obamacare will not be successful. So, in the coming days, the Senate will vote to take up … a repeal of Obamacare with a two-year delay to provide for a stable transition period to a patient-centered health care system that gives Americans access to quality, affordable health care.”

McConnell’s hand was forced when two conservative senators, Mike Lee (R-Utah) and Jerry Moran (R-Kansas) announced earlier today that they would not vote for the bill.

This is what they should have done from the beginning. Granted, it is likely to fail because of Democratic opposition, but then it will be clear going into the next election who is standing in the way of fixing the problem. Had they passed any version of their turkey of a bill, the health insurance business would have continued to fail, but they would no longer have had clean hands. It would have become their problem, and it would have cost them votes in 2018.

Now, things will be clean, and we will get to see who really is on our side, from both parties. Expect several Republican senators especially to suddenly “evolve” and decide that they can’t go along with the very repeal they’ve voted for repeatedly in the past, because it might “hurt people.”

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