December 14th, 2016 — Economics and Investing, Jobs, Taxes
“To every thing there is a season, and a time to every purpose under the heaven:” (Ecclesiastes 3)
President-elect Donald Trump has been releasing his economic plan piece by piece each week. I want to put four of those pieces together here to show why Trump’s economic jigsaw puzzle won’t work.
Here are four major parts of Trump’s plan to “make America great again”:
- Infrastructure projects funded by private investments to create new jobs
- A 35% tariff on foreign imports by US corporations
- A tax amnesty of 10% for US corporations who bring foreign earnings home
- Tax cuts up to 15% of actual income for the wealthy
Why can’t they work? Could some of them work? The answer to both question is “no” — and for the very same reason.
US corporations deep in debt
Continue reading →
December 4th, 2016 — Economics and Investing, Government, Jobs
In Robert Reich’s 2013 documentary film, “Inequality for All” Reich and Alan Simpson, US Senator from Wyoming, agree that the pejorative political names both have been called, i.e., “socialist” and “communist” didn’t apply to them.
Reich sees himself as a “liberal”; Simpson sees himself as a “conservative”. Both are firm believers in capitalism, not communism.
Now, Steve Bannon, chief advisor to President-elect Donald Trump, is being labeled a “right wing bigot,” yet Bannon prefers the terms “alt-right” and “nationalist”.
Donald Trump’s detractors see Trump as a rapacious, narcissistic millionaire, but Trump claims to be a “populist,” a man of the people, and a political outsider to the Republican Party. What are we to make of political labels anymore, in particular, the labels of “conservative” and “right-wing” as applied to Republicans?
To some Americans, these labels seem to mean something and describe particular beliefs, but to those who don’t live every day in the world of politics the words no longer make sense. There’s a nerve-wracking ‘cognitive dissonance’ between the labels and the reality. Continue reading →
November 22nd, 2016 — Economics and Investing, Investing, Jobs
This weekend Donald Trump settled multiple cases related to his Trump University for alleged scams that bilked 5,000 students out of $40 million of their hard-earned savings with the promise that they’d be taught how to make money in business.
Judge Gonzalo Curiel, the judge whom Trump alleged was biased because he is Mexican-American, kindly gave Donald an “out” by suggesting that President-elect Trump would be too busy to fight his lawsuits. And that was the reason Trump gave when he paid $25 million to settle.
But was it the real reason? Hardly! Donald Trump settled his previous scams because he has way bigger fish to fry.
On Friday, MSNBC news featured Hollywood Reporter, Michael Wolff on the Chris Hayes’ show. Wolff was first to interview Steve Bannon, Trump senior counselor.
In this interview Steve Bannon gave us a hint of what he’s really up to.
The media and many Americans have been consumed with worry about the racism, sexism, homophobia, and other prejudice that Trump voiced during his campaign and that Bannon’s Breitbart website fuels.
Asked about this, Bannon hastened to assure Wolff those things were not “what he was about.”
Next, Bannon claimed his chief goal is to create new jobs for Americans.
I can believe Bannon’s first assertion, but not his second.
Here’s what led me to discount Bannon’s second statement. Continue reading →