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Trump cites economy in freezing federal worker pay, but corporations still get their giant tax break

phands

phands

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The president proves yet again what a scumbag he is....


[FONT=&quot]Donald Trump announced Thursday that he’s freezing federal worker pay increases for 2019, citing the power to do so “if, because of ‘national emergency or serious economic conditions affecting the general welfare,’ I view the increases that would otherwise take effect as inappropriate.”[/FONT]
[FONT=&quot]What national emergency or serious economic conditions affecting the general welfare is Trump talking about, exactly, considering how much time he spends bragging about the economy? Well, the letter specifies that “We must maintain efforts to put our Nation on a fiscally sustainable course.” But, as Sahil Kapur tweets, “The president estimates that the 2019 federal employee pay raise he's scrapping would've cost $25 billion. For context, his tax law is projected by CBO to cost the Treasury an average of $190 billion each year for the next decade.”[/FONT]
[FONT=&quot]So: Donald Trump says we have a great economy, thanks to Donald Trump. He also says that the nation’s fiscal situation is such that $25 billion in raises for federal workers is unsustainable—after he gave $190 billion in annual tax cuts overwhelmingly to corporations and the wealthiest people. [/FONT]
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And this went exactly as predicted. Now watch the odious McConnell and Ryan go all deficit hawk as if the tax cut wasn't their one true desire....
 
At least he stopped taking expensive trips to Mar-a-Largess, since tge economy can't support it.
 
This is being reported on poorly. It should read something like this.

TRUMP INDICATES TAX CUT FAILED TO PROVIDE ECONOMIC STIMULUS FOR COST OF LIVING PAY INCREASE FOR FEDERAL WORKERS
 
phands said:
Except that the shitgibbon would never admit that anything he did was a failure.
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It isn't a quote, it is a factual statement relying on context, so it is quite legitimate to say: "TRUMP INDICATES TAX CUT FAILED TO PROVIDE ECONOMIC STIMULUS FOR COST OF LIVING PAY INCREASE FOR FEDERAL WORKERS"
 
laughing dog said:
I thought Trump claimed the economy was doing great.
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True -- for the 99%.
If you measure the economy by the income of industry and banking or by the total money and power under the control of the US then yes, the economy is doing great, the S&P fund is rising.

But if you bring in the widening income inequality, economic and social stagnation, and lack of opportunity for most Americans, well, not so great.
 
So his plan to not pay an increase, but he's going to look into it and maybe change his, I mean, the Government's, mind.
 
Not quite year end, but here are some deficit numbers for the 11 months, with it already the 5th highest...in a good economy. Fiscal 2018 could still manage to cross a trillion...I thought FFvC liked big numbers, why no tweets?

https://www.marketwatch.com/story/u...ts-2018-09-11?siteid=bigcharts&dist=bigcharts
The budget deficit is widening in a big way. In the first 11 months of the fiscal year, the deficit was $895 billion, which is $222 billion more than the previous year.
<snip>
Corporate taxes have plummeted by 30% this fiscal year, both because of the lower rate as well as the expanded ability to immediately deduct the full value of equipment purchases. Individual income and payroll taxes have climbed 4%, as increasing wages — mostly, due to more people having jobs — offset a lower withholding rate.

Spending on Social Security and Medicare have climbed 4% as more baby boomers retire, outlays on net interest on the debt have jumped 19% in part due to a higher rate of inflation triggering more payments to inflation-protected securities holders, and defense spending has jumped 6%.
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Loren Pechtel said:
Elixir said:
laughing dog said:
I thought Trump claimed the economy was doing great.
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He did, and it IS! But how else is he supposed to pay for his Space Farce?
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http://fortune.com/2015/07/20/asteroid-precious-metals/

Never mind that the market would glut.
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If Rump had any inkling of the possible wealth that could be extracted from asteroids he would certainly not let the government get involved. He would be hard at work trying to figure out how he is going to broker the rights to them to private entities who could remit percentages back to him for the favor.
 
Elixir said:
Loren Pechtel said:
http://fortune.com/2015/07/20/asteroid-precious-metals/

Never mind that the market would glut.
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If Rump had any inkling of the possible wealth that could be extracted from asteroids he would certainly not let the government get involved. He would be hard at work trying to figure out how he is going to broker the rights to them to private entities who could remit percentages back to him for the favor.
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Except when it comes to the government you only need to pretend there will be enough money.
 
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