Steve Mnuchin part 3

Rootin’ tootin’ Mnuchin
US Treasury Secretary
He has our whole world
In his hands
Economically speaking
King of foreclosures
Member of Sears board of directors
Sears bankrupt
That was the plan
Of Wall Street
Now come to pass

Trump must go

 

 

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The Red Fort

Saint George, Utah, has a new restaurant, The Red Fort. Serving the cuisine of India, it now occupies the former Iggy’s Sports Grill. We had lunch there and I recommend it.

Trump must go

Tax burden

From Tailspin, The People and Forces Behind America’s Fifty-Year Fall–and Those Fighting to Reverse It by Steven Brill published in 2018. If you listen to GOP politicians, you’d think that America is the mostly heavily taxed nation in the world. UNTRUE. Adding Federal, state and local taxes together and taking the total as a percentage of gross domestic product, America ranks 32nd on a list of 35 industrialized nations, ranking them on tax burden from heaviest (number 1) to lightest (number 35). Only three nations, Ireland, Chile and Mexico, have lighter tax burdens than we Americans do.

The problem, as I see it, is not that our tax burden is too high. The problem is that our incomes are too low. Starting about 40 years ago, wages have stagnated for most of us, with most income gains going to the 1%. And it is the 1% who want lower taxes, being unwilling to pay their fair share for government services. They, the 1%, can afford to purchase privately what government formerly was expected to provide for all citizens. The 1% no longer feel the need to share with other Americans. And they expect the majority to man our military and police forces to protect the lives and property of the 1%.

Trump must go

Recent GOP tax cuts

The recent GOP tax cuts were supposed to stimulate the economy. They did not. Rather companies used the proceeds to buy back stock, increasing stockholder wealth and executive bonuses. To stimulate the economy, the tax cuts should have gone to the poor and the middle class, so that demand for goods and services increased. That is how to stimulate the economy for the good of the majority of US citizens.

Trump must go