TCJA is a Major Scam pulled on the American People…It’s the trickle-down hoax!  TCJA stands for the Tax Cuts & Jobs Act, which I’ve often referred to as the Trump tax bill that was signed in December 2017, where the working class got the scraps as a guise to give the already wealthy & major corporations huge tax breaks.  It resulted in a flurry of stock buybacks far more than employee pay raises.  Yes, there are plenty of jobs available out there, most of which pay peanuts.  The most obvious consequence of the TCJA is the hike in annual deficits are projected at $1 trillion as far as the eye can see.  Thanks Trump & the GOP, for robbing us & our kids’ futures.  So our definition of TCJA should really stand for Trump’s Con Jips America!  Maybe gyps is the actual spelling, but we can take liberties to fit the TCJA abbreviation.  The reports below pulled from the newsfeeds have several articles revealing the true effects of the TCJA, & hear our song at the bottom about working folks.
 
 
TCJA Ripoff now being Exposed in Real Time!
 
TCJA is not to be confused with TMJ, since rather than a pain in the jaw, TCJA is a pain in the rear, the brain & the pocketbook.  It looks like working middle-class Americans are in for a rude awakening with their measly refunds or how much more they owe: gop-tax-law-refunds & also heres-why-your-tax-refund-is-lower-this-year.  And no wonder, since the tax cuts weren’t written to benefit them, but the spoils went mostly to the large donors for our DC politicians.  So it’s apparent this misguided/mistargeted tax bill was not only counterproductive, but the intended results became a boondoggle: trump-tax-cuts-doing-opposite-of-promised-corporate-cash-accountants.
 
Yes indeed, the impetus for the TCJA tax legislation was initiated by the large donors, since those who control the purse strings also control the legislation.  Some of those rich entitled billionaires practically extorted the money from our political leadership (which in essence they extorted all of us & I guess they can never get enough!):billionaires-flooded-republicans-coffers-just-before-the-tax-cuts-passed.  As these articles here in Part 3 have laid out the facts before us, the Trump tax cuts had nothing to do with MAGA, but only made the rich richer & America further in debt.  Adding insult to injury, the corporate giants also use their power & leverage to garner other huge concessions from our society.  Using & abusing the system includes holding taxpayers hostage, forcing tax breaks their smaller & less-profitable competitors couldn’t possibly expect to receive: how-tax-incentives-cripple-cities.  And for the sake of their bottom line, the often impersonal treatment of employees can result in making them unwitting pawns: immorality-layoffs.
 
 
How Much is $1 Trillion?  A Lot!!!
 
America does have a trillion dollar problem.  Not just our trillion dollar annual deficits, but the interest payments on our national debt is projected to hit $1 trillion per year a decade from now, which this scary deficit spending is explained inside americans-have-trillion-dollar-problem.  This great economy Trump touts which is a basic facsimile of the Obama economy, could soon be crippled courtesy of the TCJA, as described in excerpts from deficit-under-trump-tax-cuts-spending-hikes-doom-economy:
 

Is President Trump blowing up the deficit and dooming the economy? Trump’s big tax cuts and spending increases have substantially widened the deficit – the annual gap between government income and expenses –  to nearly $1 trillion, lending fresh urgency to a debate that seemed to have vanished from the halls of Congress in recent years. Some economists and think tanks say the red ink could ultimately crimp the economy by pushing up borrowing costs for Americans and hampering the government’s ability to spend in a crisis. That could mar Trump’s economic legacy, much as a big debt run-up in the 1980s tainted President Reagan’s. Meanwhile, the sum of all annual deficits and surpluses, the national debt, is an eye-popping $21 trillion. The ratio of national debt held by the public – which excludes things like Social Security – to gross domestic product is at 78 percent, the highest level in 70 years, according to the Committee for a Responsible Federal Budget, a nonpartisan, nonprofit group.

The 35-day partial government shutdown, resolved at least temporarily on Jan. 25, raised questions about whether a divided Congress can pass a new spending deal this year that begins to tackle the budget gap. In early January, Fitch Ratings warned that a failure to grapple with the deficit could eventually prompt it to lower the nation’s credit rating, a move that would roil markets and the economy. “Given that the president and Congress can’t agree on simply keeping the government open, there is little prospect they can agree on addressing the nation’s fiscal problems,” says Mark Zandi, chief economist of Moody’s Analytics. Also placing renewed focus on the deficit: The economic lift fueled by the Republican tax and spending measures is expected to fade this year. That’s sparking questions about whether the lingering hangover – higher deficits – will ultimately slow or derail an economy already set to cool.

Other analysts downplay any tangible economic impact from the deficit. They note interest rates remain low and bondholders seem to have a limitless appetite for financing U.S. borrowing, especially when other countries are far less financially stable. “Even with a big deficit, the U.S. is still a pretty good bet” for bondholders, says economist Paul Ashworth of Capital Economics. “I’m not sure why … people will start to panic in another month or two or in a year.” The budget deficit is expected to reach $900 billion in fiscal 2019 and hover at about $1 trillion or above for the next decade, up from $779 billion last year, according to Congressional Budget Office projections. At least 40 percent of the increase can be traced to the tax and spending measures. Trump vowed that the sweeping tax cut would pay for itself by generating more economic growth that swells government coffers.

But that hasn’t happened. The tax cut, passed in late 2017, is expected to cost the government $1.84 trillion over the next decade, according to the Committee for a Responsible Federal Budget and the CBO. While faster economic growth is forecast to generate about $570 billion in additional revenue, that will be offset by higher interest payments on a bigger national debt, the committee says. “Deficit projections over the next decade are unrivaled by any time in our nation’s history save for World War II and the immediate aftermath of the Great Recession,” House Budget Committee Chairman John Yarmuth, D-Ky., said at a hearing recently. All told, the tax and spending laws are poised to add $2.1 trillion to $4.7 trillion to the debt over 10 years, depending on whether they’re extended beyond their current terms. And so the U.S. debt held by the public as a share of gross domestic product is expected to rise from 78 percent to 93 to 105 percent over the next decade. Without the legislation, debt to GDP would have climbed to 89 percent over that period, the committee for a responsible budget says. To be sure, other expenses such as Social Security, Medicare and interest on the debt are also big drivers of the deficit. “The (tax and spending) legislation just made things worse,” says Michael Peterson, CEO  of the Peter G. Peterson Foundation, which addresses U.S. fiscal challenges.

 
 
See All the Tricks & Deception in TCJA
 
Not surprising to see such deceit, since Trump is a proven con man always lying to his base!  It takes a real lowlife to boast to his trusting fans he’s there to help them, while his actions only serve to help the fat cats.  Maybe someday those loyal Trumpeters will finally realize they’ve been had, as seen in this article posted from gops-giant-tax-reform-con-designed-trick-american-voters-now-backfiring-spectacularly:
 

Even as the Republican Party pushed the Tax Cuts and Jobs Act through Congress in December 2017, critics were pointing out that it was filled with tricks and gimmicks meant to obscure the fact that it was a massive giveaway to corporations and the wealthy. Now that the act has been law for more than and a year, the extent of its deception is coming into focus. Writing for Vox, Matt Yglesias explained that the online furor from many supporters of President Donald Trump now filing their taxes appears to be a direct result of some accounting chicanery from the IRS designed to make the law more popular. While the law did generally lower tax rates for most Americans — and then set them to spike after the 10-year mark — it didn’t lower most workers’ obligation by all that much. So instead of leveling with the American people and explaining that the purpose of the tax bill was never to provided much relief for typical people, the administration appears to have tried to tweak the IRS’s withholding guidelines to make it look like taxpayers got a bigger cut than they actually did. They could do this because the IRS collects taxes throughout the year from most workers through their employers. For most people, it collects more money than taxpayers will ultimately owe — which is why so many Americans get refunds from the IRS during tax season, rather than having to pay the government money. In what seems to be an attempt to bolster the tax law in the eyes of voters, the IRS reduced the amount of taxes withheld from workers’ weekly paychecks throughout 2018, with an unfortunate result. Now that people are paying their taxes, they’re getting smaller refunds than they expected or owing the government more money than they had anticipated. “If this was intended to give Republicans a boost in the midterms it obviously didn’t work, in part because the once-a-year tax filing process is a lot more salient than the biweekly process of automatic withholding,” wrote Yglesias. “In fact, they are now facing a backlash from an angry public that includes millions of people who were expecting tax refunds that they are now not going to get.”

And Brad Setser, a former deputy assistant secretary in the Treasury Department, explained in the New York Times Wednesday that while American workers are getting less than they had hoped for from tax reform, corporations are running away with even more than they were promised. He pointed out that the tax bill’s corporate rate cuts were promoted as a tool to reduce the incentive for companies to move operations offshore. In fact, it has done the opposite, he argued. “Overall, the Tax Cuts and Jobs Act amounted to a technocratic sleight of hand — a scheme set to shift an even greater share of the federal tax burden onto the shoulders of American families.” It’s not clear how much Trump knew about this — despite his claims to the contrary, he seems to have a thin grasp on tax policy. But, Setser argued, his advisers and those working on Capitol Hill must have known what the result of the plan would be. They left open gaping loopholes that allow corporations to get away with exactly the kind of behavior Trump pledged to end. On top of the deception about the effect on personal tax rates, this trickery will also leave many Americans let down by the administration. Trump promised to bring a flood of business investment from overseas, but it’s not happening. The overhyped Foxconn factory plan in Wisconsin is turning out to be a bust. The president promised the end to all the corporate practices Americans hate, but if anything, these behaviors have accelerated. While some will believe Trump when he says the sky is green, eventually, economic reality catches up with the voting public.

 
GOP Plays the Socialism Card
 
And they try to portray AOC as the leader of the Dem party, while comparing Dem policies to what has happened in Venezuela is totally ridiculous, but there are some real concerns the more far-left progressives are emboldened to go overboard.  When we make the safety net too expansive & too easy, many would take advantage & turn it into a hammock.  And I’m personally not comfortable with proposals/issues like green new deal, late-term abortions, or instantaneously doubling the highest tax rates, especially when it’s too much too soon while the GOP can portray such policies as extreme in attracting moderates.  But the democratic socialist ideas are gaining steam because our current capitalist system is leaving way too many people behind, so in our hapless attempts to fix that current rigged system, many among the disaffected are ready to scrap the whole thing & go to something completely different.
 
As we’ve repeatedly seen, the GOP totally caters to the rich & have done little to nothing for the working middle class, which may well allow a leftist progressive to win next year’s presidential election.  I would now generally consider the far-left to be not nearly as extreme as what has become of the far-right, with some progressive pursuits not without merit in certain areas like more progressive taxation.  Please be aware in the 1950’s, 60’s & 70’s when the American working middle class generally did well in landing jobs paying a livable wage, during that same period the top tax rates were 70% or higher!  Such tax plans do make a lot more sense in these times than TCJA!  Check out these thought-provoking articles:
 
 
 
 
 

 

 
For Health Care, We Need To Do Something Different
 
Crafting together some kind of universal coverage will get huge pushback from the GOP, insurance companies & employees content with their employer-based coverage: medicare-for-all-explained-health-insurance-deductibles.  So I say go ahead & craft better government healthcare coverage, fixing Obamacare or creating some brand-new form of Medicare-for-all while keeping the private plans in place, letting them compete & we’ll find out over time how it shakes out.
 
The biggest problem with healthcare coverage & our healthcare system in general is the costs are far too high, so we cannot stay with the status quo while any new plans must address the cost factor: gallup-editor-says-most-americans-want-to-see-a-change-to.  Despite the right-wing talking points, I think there’s a strong likelihood a public universal system would be less expensive.  We’ve seen proof of that in other developed countries who do government healthcare effectively at half the cost, our insurance industry serving as middlemen wouldn’t abscond with so much of the revenue, while a government-controlled plan could be bettered positioned to rein in confiscatory practices like unjustifiably high prescription drug prices.  Having failed to fix the current system beyond Obamacare, some form of universal coverage is probably inevitable.
 
 
Short Bits
 
Not even the border towns want Trump’s silly wall: border-communities-are-rising-up-against-trumps-wall.  And the hypocrisy of it all: my-whole-town-practically-lived-there-from-costa-rica-to-new-jersey-a-pipeline-of-illegal-workers-for-trump-goes-back-years.  The future of public pension funds look to be in big trouble: public-pensions-are-the-trojan-horses-of-us-entitlements.  A bill is finally making progress to require universal background checks on all gun purchases, which is only common sense: its-finally-time-to-pass-universal-background-checks.  Max Boot proposes six remedies for some of our most pressing issues: forget-trumps-sideshows-here-are-my-solutions-for-6-real-crises.
 
 
Working 9 to 5
 
So many are trapped in dead-end jobs for poverty wages, as we must find ways to restore the American Dream & revive the working middle class!  Our song selection at the bottom is what was played today as Elizabeth Warren took the podium to announce her candidacy for president: elizabeth-warren-2020 & also senator-elizabeth-warren-democrat-2020-presidential-campaign.
 
She did express a number of good ideas & she’s not afraid to give specifics, plus she’s authentic & passionate, but just remember my warnings from a month ago, there are 50 good reasons not to support Warren: https://www.thevoracs.com/elizabeth-warren-decides-to-run/.  Klobuchar who announces tomorrow has the same 50 problems.  Just remember us moderates are aligned with liberals against a common enemy, far-right Trumpism & the corrupt deceptive delusions that surround it!
 
And enjoy the song:
 
 
 
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