Trump’s brilliantly successful corporate tax reform

Trump’s critics keep focusing on personal attributes they don’t like. That got us Joe Biden. But almost everything has gone backwards under big Joe. It is entertaining  though, at an Easter event a Joe helper dressed as the Easter bunny intervened to tell Joe to stop answering questions. Farce is too weak a word,

Back to the Donald. In 2017 when he reduced corporate taxes from 35% to 21% we were told by the ‘experts’ that the corporate tax take was going to plummet.Trump’s argument which of course was lambasted, was that repatriation of foreign profits and setting aside of tax avoidance schemes would actually raise the take.

Today the WSJ reported the results. Corporate Tax revenue in 2021 projected in 2017  to be $327 billion, came in at a whopping $372 billion. And in 2022 it is projected at $454 billion vs a 2017 projection of $ 353 billion….$100 billion greater. In fact, that number was only due to be achieved in 2028.

But that’s not all, the increase in market value attributable to more benign taxes has helped create a wealth effect, which no doubt has positively influenced individual taxes.

Everything the Trump team did economically, including the Pandemic relief effort, has been brilliantly successful. Contrast that with Joe Biden’s inflation and energy difficulties and one can see the folly of picking your President based on obsessive personal dislikes.

Quarterly Corporate profits encouraged by less onerous taxes, rose from $1.6 trillion in 2016 to $2.53 trillion in the last quarter of 2021…that’s what drove the tax revenue. Profits can be left overseas, accelerated, slowed down…and clearly the tax reform encouraged companies to show more of their earnings. 

You lost Sharktwit mozart.

CNN is the channel he watches for financial news and advice.

Anything to do with numbers is beyond his grasp.

Well I’m trying to make case for competence. If you were a passenger in an aircraft in a dangerous storm, would you rather have a pilot you liked or the guy with the most relevant experience?

I have never seen a Western leader that I disliked more than Trump, not even close. 
He is just not a Western leader, more like a potential Putin. The same type of psychological makeup. 

I don't care what Trump's political ideology is, I would not vote for him if he ran in any political party. He just lacks basic human decency, and is not in the slightest presidential. 

Anything sensible during the Trump era was from Mike Pence. 

None of us  know who the private human being really is. Trump is a business man with many ex employees …yet almost none have come forward with ‘tell all’ stories, even though it would have been lucrative. Where there’s no smoke, there’s no fire.

But when that plane is coming through a storm,  the primary quality of the pilot is competence. The same is true of the leader of the Western world.

If Trump and his team were still in office there would be no inflation crisis, no impending disaster at the border, ample supplies of natural gas and the poor Ukrainians would still have a country. Biden botched every one of those issues.

• The Trump campaign has been instructed to pay Omarosa Manigault Newman more than $1.3 million in legal fees.

• The attorneys fees and costs come after a judge struck down a 2018 lawsuit against Manigault Newman.

• Trump's team alleged in 2018 that the ex-aide's memoir "Unhinged" violated an NDA.

Omarosa Manigault Newman, an ex-Donald Trump aide turned Trump critic, was awarded more than $1.3 million for legal fees and costs stemming from a 2018 lawsuit former President Trump launched against her.

The American Arbitration Association handed down the judgment on Tuesday.

The Trump campaign sued Manigault Newman in 2018, alleging that her 368-page exposé — "Unhinged: An Insider's Account of the Trump White House" — amounted to the ex-aide breaking her non-disclosure agreement.

"Unhinged" was released after Manigault Newman — who first met Trump as a contestant on his reality TV show "The Apprentice" — was fired in December 2017 from her year-long stint in the Trump administration.

It contained numerous embarrassing anecdotes about Trump, including a story about how Manigault Newman once walked in on the former president eating a piece of paper in the Oval Office. In her memoir, Manigault Newman also accused Trump of uttering the "N-word" several times, claiming that there was a tape from the making of his reality TV show "The Apprentice" that could prove it.

Manigault Newman said in 2018 that she had a "treasure trove" of unflattering videos, emails, and texts about Trump and thre atened to release them if he and his team continued to dispute the claims she made in her book.

In September 2021, Trump lost the three-year legal battle trying to enforce that nondisclosure agreement with Manigault Newman.

Tuesday's judgment instructs the Trump campaign to pay Manigault Newman a total of $1,293,568.75 toward attorney's fees and $17,304.73 for additional expenses , amounting to a total of $1,310,873.48. According to the filing, Manigault Newman initially asked to be awarded more than $3.4 million. The final award was based on the judge's calculations of her lawyer's billable hours.

"First-year law student vs. #45's entire legal team. (David vs. Goliath) … … Now pardon me as I get back to studying for my Contract Law final exam," Manigault Newman tweeted on Wednesday night in response to being awarded the sum.

In a statement to CNBC, Manigault Newman's lawyer John Phillips said that the large sum of attorney fees award would hopefully "send a message that weaponized litigation will not be tolerated." Phillips added that he hoped the ruling would "empower other lawyers to stand up and fight for the whistleblower and vocal critic against the oppressive machine."

"We look forward to receiving a check and will donate a portion of the proceeds to groups who stand up to the suppression of speech," Phillips told the outlet.

And with Peeper in his camp out crawls the cowardly Quisling. What  a sad excuse for a human being. 

But back to the point. These were not long term Trump employees, they were political parasites who appeared with politics and the media, and turned nasty when the host was no longer available. Scum mostly and having some of those people around him, you can blame on Trump.

‘Trump is a businessman with many ex employees’….I couldn’t have made it clearer peeper, I was talking to his career as a businessman, not what happened in the political arena.

Tell me which of those words you don’t understand and I’ll try to explain them for you.

Well, I suppose he is back to being a businessman again . . . after his embarrassing loss to an ancient old coffin-dodger who's almost as old as you . . . but as president he also had employees and they're all happy to talk about what a monumental prick he is. 

Besides, Omarosa Newton and Michael Cohen were both employed by Bozo before he became president . . . and we haven't even started with all the very uncomplimentary books that various journalists, news presenters, politicians, pornstars and hookers have all written about him. Even his niece has written a book saying he's a gigantic arsehole. 

Let me help …..Newton and Cohen were both heavily involved with Trump, after he was President. They were both part of the political  firestorm surrounding him.Their revelations were rooted in the political situation.

Try again.

No egg…you have a problem with the English language. Perhaps the Quisling will come to your aid. But don’t count on it.

"And with Peeper in his camp out crawls the cowardly Quisling."

"Perhaps the Quisling will come to your aid."

Seems like Pompous Piles, besides hurling insults is paranoid as well, I mean seriously all I did was post a copy and paste which refutes his narrative "yet almost none have come forward with ‘tell all’ stories, even though it would have been lucrative."

Well someone has come forward and it is being very lucrative to the sum of $1.3m

So much for shooting the messenger.....enjoy your egg.

SB

This item was about Trump's tax policies and the fools like SB and Rooinek do not understand  what impact tax increases by the Government has on tax collection.     Reagan shortly after he became President inheriting roaring inflation from Carter - decided to increase taxation and the result was a 30% drop in actual tax revenue collected.   

The same happened in this case.   But SB do not know  how is it possible.   Well a simple lesion is economics may help.    Money saved from taxation is invested in expansion of businesses and expansion of employment  which in itself leads to increase the low income contribution to taxation.    The main fact is that overseas revenue is kept out of the USA to escape US taxation - but at the lower rate it is brought back to the USA .    All in all - the Government recovers more revue from lower taxation than from higher taxation - a proven case all over the world.

And the SB story about Trump being disliked by other leaders - the difference is that Trump was disliked by world leaders - Biden is despised by them because he is a weak and corrupt idiot.    Whether you dislike him or not is irrelevant - because  your dislike is based on lies from the fake media.             

Rooinek 

Every major employer - like Trump is - will always have ex-workers who write ooks tif they think there is a profit in for them.     The idea  in Trump's case  was if you tell enough stories to discredit him the fake media would lead to increase  of the book sales through propaganda like they did in the case of the Russian Hoax lies initiated by the Democrats.   You were stupid enough to fall for that shit - so you are still leading in lapping up their shit.     

You can almost see ou Maaik's "thought" processes here . . .

"What are this? This are a thred were I have not eksplained yet how evil Biden and the Demmerkrats are waht make all the media proper gander! There kan mite be sum posters waht dont yet know how much I hate the Demmerkrats. Let I swiftly recktify that oversite and wile I are at it, I kan also provide a simple lesion is economics for the useful idiot SB and tell that useful idiot Rooinek about right ooks tif!"

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Biden

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans’ Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent. (For more detailed data, see my table published here.)