Maybe it isn’t a total lie, because Trump did keep his promise to lower taxes for the big corporations and the filthy rich.
But is a little misleading...
Working families complain that the US Trump “tax reduction” takes more from them, while they expected the (promised) tax reduction.
During Trump’s first 2 years in office, US federal government deficits have already driven the national debt up by $3 trillion – from $19.5 trillion to $22.5 trillion. That´s even faster than his predecessors, George Bush and Barack Obama.
The 2018 Trump tax cuts have reduced US government revenues by about $500 billion in 2018; add another $.5 trillion per year in the continuing of the Bush-Obama era tax cuts; another $.4 trillion in Trump war and other spending hikes during his first two years; and more than $.6 trillion in interest payments on the debt — and you reach the $3 trillion added to the national debt in 2017 and 2018.
When George Bush Jr. took office in 2001 the national debt was $5.6 trillion; it almost doubled in 8 years to approximately $10 trillion. When Obama left office in 2016 it had almost doubled again to $19.6 trillion.
Under President George Bush Jr. there were more than $4 trillion in tax cuts. The US army got several trillions additionally.
Obama cut another $300 billion in taxes in 2009 and then extended the Bush tax cuts, scheduled to expire in 2010, for two more years to 2012 (costing another $900 billion). Then came another $806 billion in tax cuts for business. In January 2013, Obama extend Bush’s tax cuts for another decade —costing a further $5 trillion until 2023.
Both Bush and Obama cut taxes by approximately $4 trillion each. And defense-war spending long term costs rose by $6 trillion in total. Roughly a $14 trillion increase to the $5.6 trillion debt of 2000.
To this Trump has since added another $3 trillion during, which adds up to the “current” $22.5 trillion.
The Treasury Advisory Committee recently warned the US Treasury that it will have to sell $12 trillion more US Treasury bonds, bills and notes, over the next decade, 2018-2028. That’s $12 trillion on top of $22.5 trillion national debt or a $34 trillion national debt by 2028!
In January 2018 the Trump tax cut provided $4.5 trillion tax reduction from 2018 to 2028, for businesses, multinational corporations, wealthy households, and investors. US multinationals alone get nearly half of that $4.5 trillion.
But starting this year, 2019, the middle class will begin paying for those tax reductions for corporate America, investors and the wealthy 1%. Already tax refunds for the average household are down 17%. The tax hike starts in earnest by 2022; middle class will pay $1.5 trillion in higher taxes by 2028.
Today’s $22.5 trillion, rising to $34 trillion, is just the US national government debt. Total US debt includes state and local government debt, household debt, corporate bond and business commercial & industrial loan debt, central bank balance sheet debt, and government agencies (GSEs) debt. Add these other forms of debt to the national debt makes the total debt in the US rises some $53 trillion. This lead to an estimated grand total US debt of more than $70 trillion by 2028 (the $900 billion a year in interest charges for the banksters is probably too low an estimate): https://www.counterpunch.org/2019/03/15 ... debt-bomb/
(archived here: http://archive.is/hzpeF
After, becoming “unpaid” advisers to Ivanka’s father, President Donald Trump, Ivanka and Jared Kushner made a total income of between $82 million and $222 million in 2017, compared to $89 to $201 million in 2016.
That’s an average of $225 to 608 thousands dollar per day in 2017!
The couple’s real estate holdings and other investments went from $761 million in 2016 to $811 last year.
The biggest single transaction for the Kushner couple was in September, when Quail Ridge purchased residential real estate in Plainsboro, New Jersey for $5-25 million.
Kushner Companies made Brookfield Asset Management an offer they can’t refuse for financing the 666 Fifth Avenue in Manhattan (remember the earlier Qatar blockade?)…
Brookfield Asset Management is partly owned by the Qatar government: https://www.nytimes.com/2018/06/11/busi ... sting.html
Trump’s attorney Michael Cohen and his one-time campaign manager Paul Manafort have been sentenced to prison.
In March, Manafort was sentenced to serve 47 months in prison of which he is expected to serve only 38 more months because he has already been incarcerated for some time.
Judge Ellis ordered Manafort to also pay a $50,000 fine and $24 million in restitution, for amongst others hiding $55 million in offshore bank accounts in Cyprus to avoid $6 million in taxes.
Mueller’s prosecutors demanded that Manafort would be fined more than $50 million and locked up in prison for 19 1/2 to 24 1/2 years, for “serious, longstanding, and bold” financial crimes.
Some have complained about the relatively lenient punishment for a big criminal like Manafort, like for example some small criminal getting offered 36-72 months in prison for stealing $100 worth of quarters.
Manafort also faced sentencing in the second case: https://www.bbc.com/news/world-us-canada-47491688
In the second case, Paul Manafort got another 3 ½ years, which means that his total prison sentence is 7 ½ years.
Manafort has also been prosecuted in a third “state” case, in which he’s charged with mortgage fraud, falsifying business records and conspiracy: https://www.theguardian.com/us-news/201 ... nald-trump
I’m even more surprised that in the latest trickery to divert attention away from President Trump’s many scandals,
His long-time unofficial adviser Roger Stone has been arrested (with a camera crew waiting to film the event).
Even Julian Assange has been sentenced to 10 months in jail in Britian for jumping bail (would that be long if Assange has really been locked up for years in the Ecaduor Embassy like it’s claimed?): viewtopic.php?f=30&t=1066#p4948
Mueller has made his final report after a very long “investigation” that cost millions of dollars of taxpayer’s money.
“Special” cover-up artist Robert Mueller wasn’t able to find evidence that:
1) The London headquartered SCL Group, with connections to the Russian olichargy, manipulated the 2016 presidential elections: viewtopic.php?f=27&t=1398
2) That the Trump Organization and the Spectrum Health of the DeVos family (the in-laws of Trump’s education Secretary Betsy DeVos, the sister of Erik Prince) were communicating with the Russian Alfa Bank during the 2016 election: viewtopic.php?f=7&t=1038&p=4816