Friday, January 19, 2018

The Pending Government Shutdown

The last time we had one was 2013. Republicans were outraged over Obamacare. Ted Cruz filibustered till time ran out. This time it's the Democrats over immigration reform. So don't try and tell me one party is more guilty then the other.

A Bit Of History
Obama begged congress to tackle immigration reform for years. Republicans managed to stall reforms so Obama on June 15, 2012 decided to create an executive order entitled DACA (The Dream Act). He'd admit it may be overextending his presidential authority. However over the years despite legal challenges it remained the law of the land. This until Donald Trump decided in September 2017 to undo it by his signature alone. Otherwise we wouldn't be here where we are now with this budget stalemate.

If Not Now When?
Democrats considered this a poke in the eye and demanded Republicans in congress finally take action waiting some six years (five months since Trump's undoing) with no action. Despite Democrats agreeing to four previous budget extensions (since September) with promises from the Republicans they'd make immigration reforms nothing was moved forward. Now Republicans say if Democrats will agree to a fifth there will be one within 30 days. Anyone else see why Democrats are a bit skeptical?

Here's The Way I See It
Despite all the king's horses and his men blaming Democrats Donald Trump is entirely 100% at fault. Last week the senate came up with a bipartisan bill that would give him 1 to 2 years funding for his wall. Well over $2 billion. He wanted the entire $19 billions for the next 10 years. In essence he threw them out. This despite telling them only two hours earlier he'd agree to it.

More significantly Trump on his own is trying every way possible to deport nearly everyone who wasn't born here. The latest being groups of Salvadorans and Haitians Enough is enough. This is far more action then Barack Obama would ever dare consider doing..

Stop Kicking This Can Down The Road !
Conservatives didn't like it when Obama did things on his own and I most certainly don't like it now when Trump does it. Enough with the promises on immigration reform. Everyday 100's are being thrown out mostly based on Trump's whims rather then through legislative clarity. Most importantly the economy, families, employers and whole communities are in a constant state of flux and turmoil never knowing from day to day what's on the Mar-a-Lago innkeeper's mind from one hour to the next.

I'm not sure how this was allowed to go on for so long. One thing I am sure of-- the clock is approaching midnight. Either this month or the next--WE WILL FACE THE MUSIC if this is not resolved soon. It won't matter if someone is a conservative, liberal or doesn't give a hoot. All are affected,

Here's where things stand as of this afternoon (01/18/2018)

I stand with Sen. Lindsey Graham

Thursday, January 18, 2018

Companies Don't Have To Bring Money Back From Overseas

It really makes me wonder how Americans are so easily duped. Who cares about corporate taxes. If rates are higher-- no problem. It's all quite simple really.

Suppose a American company's separately registered foreign subsidiary leaves a billion dollars overseas. It's American counterpart needs five hundred million dollars here in the states. All they have to do to bring it here is borrow the money from themselves in that country. There are several advantages (besides being able to move money home tax free).

First is why bother with seeking bank approvals. Their foreign enterprise is able to loan it to themselves at lower rates then banks domestically could regardless the risk. Thus shareholders are benefited by below market rates. Secondly repayment of the loan's interest (to themselves) enables them to deduct this from their taxes here in the United States. If taxes go up all they need to is increase the interest rate they charge themselves. This scheme works whether a company has many shareholders or is wholly owned by a wealthy individual. Thus there is a incentive to continue leaving some of their loot in other countries.

The only reason any company might move their money back here is if the tax rates become higher overseas. What happens in the future remains to be seen. Some countries have already responded by lowering their corporate taxes to match ours. I wouldn't expect a huge surge suddenly to begin washing up on the shores of the U.S.

Unofficial Trump Campaign Song For 2020

Donald Trump's Upcoming State Of The Union Speech Leaked Out Early !