Tag Archives: Heck

Shuffling the Deck and Hiding the Cards: House Guts Buy American rules

Just in case we all missed it, and I suspect we were supposed to, the House of Representatives recently gutted the rules for Buying American products for federal projects.  [DWT] What was all that palaver about ‘saving American jobs,’ and ‘promoting American manufacturing?’  Evidently it’s meaningless to Nevada Representatives Amodei, Hardy (happily on his way out) and Heck (happily on his way out) – all of whom voted in favor of the Water and Energy bill (H.R. 2028) from which the HOUSE REPUBLICAN LEADERSHIP  had stripped the “Buy American” provisions.

It might also be interesting to hear from Senator Dean Heller on the Russian interference with the 2016 presidential election?  Yes, 17 US intelligence agencies – not just the CIA – said Russia was behind the hacking. [USAT]  There’s no “confusion” over this conclusion. There’s no “false flag” operation – that’s the province of fake news and conspiracy theorists.  There’s just no question – and yet Senator Dean Heller (R-NV) has yet to join the bipartisan call for Congressional investigation of this important matter?   If a foreign country can hack in and seek to manipulate a U.S. election, what’s to say it can’t gather blackmail-bait on the Republicans as well as Democrats?

And, what’s the Senator’s stance on GOP plans to cut Social Security? Here’s the first draft of that plan.   The basics:

Those measures include gradually raising the retirement age for receiving full benefits from 67 to 69 and adopting a less generous cost of living index than the current one. The proposal would also inaugurate means testing by changing the benefits formula to reduce payments to wealthier retirees. It would also eliminate the annual COLA adjustments for wealthier individuals and their families. [Financial Times]

It would be easier to sit back and pretend this is a normal political season but it isn’t, and when Teen Vogue does a better job of explaining the Gaslighting of America than the D.C. press, then we ought to figure we’re in trouble – from lies about manufacturing jobs to lies about election hacking to lies about Social Security —

“To gas light is to psychologically manipulate a person to the point where they question their own sanity, and that’s precisely what Trump is doing to this country. He gained traction in the election by swearing off the lies of politicians, while constantly contradicting himself, often without bothering to conceal the conflicts within his own sound bites. He lied to us over and over again, then took all accusations of his falsehoods and spun them into evidence of bias.”  [Teen Vogue]

And that sums up the beginnings of the Trumpster’s administration.

Comments Off on Shuffling the Deck and Hiding the Cards: House Guts Buy American rules

Filed under Amodei, Economy, elections, Heck, Heller, Nevada politics, Politics

Who’s Heck Representing? A Look At The Advertising

Heck Trump Hat

A bit of time spent watching local television in the wilds of northern Nevada yields a real bundle of political advertising – much of which comes from the campaign to elect Representative Joe Heck to the U.S. Senate, but the fine print is almost more interesting than the ads themselves.

For example, during one broadcast of one network show, we’re treated to advertising from (1) the National Republican Senate Committee, two ads, (2) the U.S. Chamber of Commerce, (3) the National Rifle Association, (4) two ads from the American Chemistry Council, (5) two ads from the State Leadership Fund, (6) the National Association of Realtors, and 7) one ad from Heck’s campaign.

There’s nothing unusual about the NRSC running ads in a battle ground state, especially this season.  The others raise some questions.  For example, the US Chamber of Commerce isn’t a bit shy of publicizing its policy priorities.

There’s some interesting rhetoric therein, but the translations are fairly simple.  The Chamber wants:

“Regulatory Overreach—Guard against senseless regulations that wrongly attempt to eliminate all risk taking and innovation from the capital formation process. Work with regulators and Congress as they implement the Dodd-Frank Act and other regulations to ensure a more prudent approach to oversight and enforcement.”

Notice that the “risk” part of the equation isn’t clear – whose risk?  In the case of the Dodd Frank Act the idea was to reduce the risk to the American tax payer who was previously on the hook for Wall Street transgressions.  And that “innovation in capital formation” were those very creative, if highly dubious, financial ‘products’ Wall Street created in the run up to the last big collapse.   If we want a more ‘prudent approach’ to oversight then we need to keep to the spirit of the Dodd Frank Act and oppose any efforts on behalf of Wall Street casino operators who wish a return to the bad old days of rampant financialism.  Let’s look at something else the Chamber would like Representative Heck to support:

“Executive Compensation and Corporate Governance—Ensure careful and sensible rulemaking and implementation by the Securities and Exchange Commission (SEC) where needed and preserve the state-based system allowing decisions to be made through directors and shareholders. Reasonable policies must permit pay for performance and promote long-term shareholder value and profitability but not constrain reasonable risk taking and innovation.”

Shorter version:  Let the states with the least corporate regulation set the standards for determining the process for corporate management pay.  Notice the part about promoting “long term shareholder value?”  It’s not too hard to decipher this one.  Let the states with the lowest standards of regulation be the models, and executive compensation should be based on “shareholder value,” – the model which gets us pharmaceutical executives explaining blooming increases in drug prices – and “profitability,” not necessarily corporate investment in research and development.   Even shorter version: Let the corporations do what they want about executive compensation.   Let’s look at another source of support for Representative Heck.

The American Chemistry Council.  The ALEC associated trade organization is worried that Americans will take environmental warnings entirely too seriously.  Like having the Toxic Release Inventory not compiled or reported to the public as often – after all what we don’t know won’t hurt us?

“While promoting the chemical industry as vital to the economic health of the nation the ACC simultaneously lobbied against the Toxics Release Inventory (TRI), a public right-to-know program. Under TRI, the U.S. Environmental Protection Agency annually reports on what industries release into the air, water and land. The ACC “has urged less frequent reporting since 1999.” ACC’s Michael Walls said, “Just because we’re used to doing something doesn’t mean we should accept the inherent high costs or burden of doing it.” The Bush administration supports changing the TRI so that fewer releases are reported, less frequently. EPA officials say they will “likely spend another year weighing the pros and cons” of the proposed changes, after the public comment period ends on December 5. According to federal records, the EPA “previously solicited comments from industry groups.” [SWatch]

In essence, the ACC is telling Nevada voters — “Vote for Joe Heck, and you won’t have to worry about toxic releases into our air and water – because you won’t know about them, and as a bonus, you can keep on using those plastic shopping bags to your heart’s content.”  And now we have the …

National Association of Realtors, who would like to remove:

“Overly stringent lending standards have continued to limit the availability of affordable mortgage financing for credit worthy consumers. Federal policymakers are weighing a number of proposals aimed at creating healthier housing and mortgage markets.”

Remember that time when lending companies were writing mortgages hand over fist over elbow, often to very tenuously credit worthy customers? The NAR would like very much to return to that scenario.   The result was the Housing Bubble, and we don’t need a repetition  of that debacle in Nevada.  We’re barely past the last version of exploding ARMs.

And then there’s the ubiquitous NRA, what more can we say but that any regulation of firearms is anathema to these radicals – even question One in Nevada which merely calls for the implementation of background checks to every gun sale. No, it doesn’t apply if your girl friend want to borrow a gun. No, it doesn’t apply to trading guns with your hunting partner! No, it doesn’t mean you can’t share your arsenal with family members! And, no it doesn’t mean the downfall of the democracy… that’s NRA hyperbole and most Nevadans know it.  The NRA hysteria is costing Americans 30,000+ lives every year, countless injuries, untold tragedy, and more suicides than we’d care to consider.  Who’s NOT in favor of limiting access to firearms to felons, fugitives, the adjudicated mentally ill, domestic abusers, and unsupervised juveniles??

So, the next time there’s a wave of Pro-Heck advertising on the TV screen, read the small print at the end …. Who is supporting Representative Heck and what do they want?

Comments Off on Who’s Heck Representing? A Look At The Advertising

Filed under financial regulation, Heck, Nevada politics

Nevada Republicans Cling To Trump’s Basket

The Pearl Clutching is amazing!  It’s also perfectly predictable. Republican candidate Donald J. Trump can say all manner of outrageous things, but let Democratic candidate Hillary Clinton call him out and the antimacassars have to be taken off the backs of the fainting couches and the pillows plumped up.

Donald J. Trump: “Sadly, the overwhelming amount of violent crime in our major cities is committed by blacks and hispanics-a tough subject-must be discussed.”  1:05 AM, June 5, 2013.

Donald J. Trump: “@YoungYoung54: @JeriHyatt @megynkelly @JebBush So true. Jeb Bush is crazy, who cares that he speaks Mexican, this is America, English !!”  7:14 PM, August 24, 2015.

Donald J. Trump: “But you have people coming in and I’m not just saying Mexicans, I’m talking about people that are from all over that are killers and rapists and they’re coming into this country.”  [CNN/HuffPo]

Heck Trump Hat

Is anyone going to argue that these remarks from the Republican presidential candidate AREN’T racist? 

And still Nevada politicians like Representative Joe Heck will gladly don the Trump Hat.

 

Donald J. Trump: “I think the guy is lazy,” Trump said of a black employee, according to O’Donnell. “And it’s probably not his fault because laziness is a trait in blacks. It really is, I believe that. It’s not anything they can control.” [HuffPo]

Donald J. Trump: “And isn’t it funny. I’ve got black accountants at Trump Castle and Trump Plaza. Black guys counting my money! I hate it,” O’Donnell recalled Trump saying. “The only kind of people I want counting my money are short guys that wear yarmulkes every day.” [HuffPo]

Tarkanian

Do these comments from Mr. Trump sound blatantly racist? Stereotypically anti-Semitic?  Even “deplorable?” No matter, Congressional Candidate Danny Tarkanian is still pleased to be a supporter of Donald J. Trump.  But wait … there’s more.

“His white supremacist fan club includes the Daily Stormer, a leading neo-Nazi news site; Richard Spencer, director of the National Policy Institute, which aims to promote the “heritage, identity, and future of European people”; Jared Taylor, editor of American Renaissance, a Virginia-based white nationalist magazine; Michael Hill, head of the League of the South, an Alabama-based white supremacist secessionist group; and Brad Griffin, a member of Hill’s League of the South and author of the popular white supremacist blog Hunter Wallace.

A leader of the Virginia KKK who is backing Trump told a local TV reporter earlier this month, “The reason a lot of Klan members like Donald Trump is because a lot of what he believes, we believe in.” [HuffPo]

Hardy 3

Maybe we should have expected Bundy-backer Cresent Hardy to support Mr. Trump.  Not to much of his credit, Hardy initially used the Weasel Excuse for supporting Mr. Trump — “I’ll support the candidate of my party,” – nothing like announcing that you put your party above the interests of ALL American.  Then, Mr. Hardy climbed in the Basket with the other ‘deplorables.”

 

There’s still more. This August Mr. Trump hired Stephen K. Bannon of Breitbart “News.” [NYT]  Mr. Bannon was the executive chairman of the Breitbart organization when it published the infamous piece by Maria Cardona about birth control injections making women fat and unattractive.  [Snopes] The Breitbart site has given us all manner of inflammatory headlines, and there are plenty of examples: “Bill Kristol: Republican Spoiler, Renegade Jew.” Or, “Sympathy for the Devils: The Plot Against Roger Ailes – and America.” And, “There’s no hiring bias against women in tech, they just suck at interviews.” And, the egregious: “Gabby Giffords: The Gun Control Movement’s Human Shield.”  And the incomprehensible, “After the Pulse Club Massacre, It’s Time For The Gays To Come Home To Republican Party.”  And, one of my ‘favorites,’ “The Solution To Online Harassment is Simple: Women Should Log Off.” [MMA]

Amodei 3

Yes, even all this is not enough to make Representative Mark Amodei (R-NV2) do much more than tell us Mr. Trump as president would be a smoking black hole or the next messiah…whatever that might mean.  It can be argued that this comment puts Amodei in the ‘Party before Country’ category – why else support a candidate you think has a 50% chance of being a Smoking Black Hole?  Yes, indeed, for Rep. Amodei it’s all about HIS team:

“Congressman Amodei has demonstrated time and time again that he puts corporations and his party first. Leaders lead. Cynics, like Congressman Amodei, go along to get along. That’s never been more on display than with his comment ‘quite frankly… in the five years I’ve been around, I’d like to try being on the team in the White House’. Party loyalty.” [Evans]

Dime con quien andas y te dire quien eres.”

Tell me with whom you walk and I will tell you who you are.   Or, as granny used to say, “You’re known by the company you keep.”  If these Nevada Republican candidates find it uncomfortable to be associated with the deplorable comments and headlines listed above – there’s a solution.  Don’t support people and organizations which say or support these egregious things.

The Chicago Tribune sums up Trump’s campaign and its followers:

“His fervid nationalistic rhetoric has given succor to racists, homophobes, xenophobes and Islamophobes. In drawing them from the margins (back) into the mainstream, Trump is creating a social climate that increasingly threatens the progress America has made toward pluralism and multiculturalism.”

Comments Off on Nevada Republicans Cling To Trump’s Basket

Filed under Amodei, Heck, Nativism, Nevada politics, Republicans

Scams and Scandals: Is Nothing Enough to Put Nevada Republicans Off Trump?

Trump 1 While the press seems obsessed with ‘foundations’ (especially if discussing the highly rated and respected Clinton Foundation) there was this timeline published on September 6, 2016.

“Trump-Bondi Timeline

August 23, 2013
Donald Trump’s attorneys “launched an aggressive campaign against New York state Attorney General Eric Schneiderman, as the state’s chief law-enforcement officer continues an investigation into the billionaire’s education company.” —WSJ, Aug. 23, 2016

(This is one day before AG Schneiderman filed the suit.)

Mid-Late August 2013
Florida Attorney General Pam Bondi “personally solicited a political contribution from Donald Trump” “several weeks” before Bondi’s “office publicly announced it was deliberating whether to join a multi-state lawsuit proposed by New York’s Democratic attorney general.”

” ‘The process took at least several weeks, from the time they spoke to the time they received the contribution,’ Reichelderfer told AP.” —AP, June 6, 2016

ca. Sept. 10, 2013
Ivanka Trump donates $500 to Bondi (or the PAC?) “a week before her father’s money was reported as being received.” —AP, June 6, 2016

Sept. 13, 2013
Bondi “publicly announced she was considering joining a New York state probe of Trump University’s activities.” —AP, June 6, 2016

Sept. 17, 2013
And Justice For All, political group backing Bondi, “reported receiving” the $25,000 check from Trump foundation. —AP, June 6, 2016

Sept. or October, 2013
“In 2013, [Trump] wouldn’t answer Times/Herald questions about why he was contributing to an attorney general’s race in Florida. But he did release a statement calling Bondi ‘a fabulous representative of the people’ and Schneiderman ‘a political hack.’ ” —Tampa Bay Times, March 14, 2016

“In 2013, Trump acknowledged making the contribution.” [TPM]

Meanwhile in Texas:

In 2009 the state of Texas began an investigation into Trump University,  after complaints surfaced regarding the advertising placed in Texas newspapers:

“The probe began in the fall of 2009, apparently in response to an advertisement that Trump University had placed in the Chronicle, according to an internal memo that Attorney General’s Office lawyer Rick Berlin sent to Owens and three other supervisors.

“The free workshop advertisement advises you to ‘Cash in on the Greatest Property Liquidation in History!’ ” the memo said. “The full one page ad …quotes Donald Trump as saying ‘I can turn anyone into a successful real estate investor, including you.’ The ad further professes that you can buy real estate from banks at up to 70% below market value.” [HoustonChron]

The case progressed:

“Two months later, in January 2010, the Attorney General’s Office notified Trump University it was under investigation for “possible violations of 17.46(a) and 17.46(b) of the Texas Deceptive Trade Practices – Consumer Protection Act,” records show.

Those provisions prohibit “false, misleading, or deceptive acts or practices in the conduct of any trade or commerce.” The notification letter demanded 12 categories of documents.” [HoustonChron]

And when records were released in California regarding Trump’s activities, this emerged:

“Abbott received donations totaling $35,000 from Trump three years after deciding not to sue – the only major donation the New York billionaire has made to a Texas politician in years.” [HoustonChron]

On May 6, 2010 the state of Texas was preparing to file suit and requested a variety of documents from Trump.

“Investigators were scheduled to meet with Trump representatives on May 19, 2010, to pitch the $5.4 million settlement proposal. That meeting never took place, Owens said. Instead, the division received “verbal notification” that the investigation and the lawsuit were over.” [Salon]

So, what has all this to do with Nevada politics?  

The jury is still literally out on the Trump University case, the one in which Mr. Trump famously declared he couldn’t get a fair hearing because the judge (Curiel) is of Mexican heritage – but we can get a bit of information about Nevada candidates for whom the Trump University/Trump Foundation/Trump Institute morass isn’t troubling enough to warrant putting some distance between themselves and at least the “optics” of the Trump scams.

The Reno Gazette Journal published a full list of Nevada politicians who have either endorsed or said they would support Mr. Trump – in spite of the continuing pile of scandals in which he’s involved.  Some of the more notable on the list are:

Gov. Brian Sandoval – Yes

Lt. Gov. Mark Hutchison – Yes

Attorney General Adam Laxalt – Yes

U.S. Rep. Mark Amodei – Yes

U.S. Rep. Joe Heck – Yes

U.S. Rep. Cresent Hardy – Did not respond, but has said he will support the nominee * (yes, see below)

Nevada Senate Majority Leader Michael Roberson, Henderson – Yes

Nevada Assembly Majority Leader Paul Anderson, Las Vegas – Yes

State Sen. Don Gustavson, Sparks – Yes

What seems particularly troubling is that when the Governor and the Attorney General are supporting the candidacy of Mr. Trump the ‘optics’ appear that they would not be interested in pursuing any litigation against Mr. Trump’s scams.  Representatives Heck and Amodei seem not concerned enough to distance themselves from the candidacy.

If the Trump University scandal is insufficient incentive to put some distance between themselves and Trump’s candidacy perhaps there are other items which might cause them to back off?

Apparently the housing discrimination scandals of 1973-75 which resulted in Trump agreeing to abandon the discrimination policies and to submit its operations to a regular review by the NY Urban League weren’t enough to make these Nevada politicians wary of Mr. Trump. Nor were Mr. Trump’s machinations involving a Central Park property and the abuse of the residents therein enough to make Nevada politicians nervous? [Atlantic]

Perhaps they find Mr. Trump’s position on immigration policy appealing, but without delving into his immigration practices:

“In order to construct his signature Trump Tower, the builder first had to demolish the Bonwit Teller store, an architecturally beloved Art Deco edifice. The work had to be done fast, and so managers hired 200 undocumented Polish workers to tear it down, paying them substandard wages for backbreaking work—$5 per hour, when they were paid at all.” [Atlantic] Mr. Trump was aware of these practices.  [Time]

There have been other allegations published about Trump’s dealings with his Modeling Agency and the women who were undocumented working there. [Mother Jones]

Nevadans are usually particularly sensitive to casino operation policies. Trump’s were highly questionable – enough so that he’s no longer in the casino business.

“In 1990, with Trump Taj Mahal in trouble, Trump’s father Fred strolled in and bought 700 chips worth a total of $3.5 million. The purchase helped the casino pay debt that was due, but because Fred Trump had no plans to gamble, the New Jersey gaming commission ruled that it was a loan that violated operating rules. Trump paid a $30,000 fine; in the end, the loan didn’t prevent a bankruptcy the following year. As noted above, New Jersey also fined Trump $200,000 for arranging to keep black employees away from mafioso Robert LiButti’s gambling table. In 1991, the Casino Control Commission fined Trump’s company another $450,000 for buying LiButti nine luxury cars. And in 2000, Trump was fined $250,000 for breaking New York state law in lobbying to prevent an Indian casino from opening in the Catskills, for fear it would compete against his Atlantic City casinos.” [Atlantic]

Surely such a record would cause Nevada politicians to retreat from the prospect of supporting Mr. Trump? Evidently not.

Perhaps some highly questionable  name-licensing agreements would be enough to make Nevada politicians uncomfortable?  Especially if the agreements involved real estate transactions?

“In the case of Trump SoHo, in Manhattan, Trump’s partners turned out to have a lengthy criminal past. Trump said he didn’t know that, but—atypically—settled a lawsuit with buyers (while, typically, not admitting any wrongdoing). Another, Trump International Hotel & Tower Fort Lauderdale, went into foreclosure, and Trump has sued the complex’s developer. In 2013, hesettled a suit with prospective buyers who lost millions when a development in Baja Mexico went under. Trump blamed the developers again, saying he had only licensed his name.” [Atlantic]

Either Mr. Trump is not being honest about his relationship with these failed developments, or he is remarkably naive about to whom and under what circumstances he licenses his name?

Would Nevada Republican politicians sound the retreat from the Trump Camp if it were known that Mr. Trump has a track record of stiffing small business owners and employees – the very people the Republicans claim to uphold and protect?  Again, from the Atlantic summation:

“Trump has offered various excuses, including shoddy workmanship, but the scale of the problem—hundreds of allegations—makes that hard to credit. In some cases, even the lawyers Trump has hired to defend him have sued him for failing to pony up their fees. In one lawsuit, a Trump employee admitted in court that a painter was stiffed because managers determined they had “already paid enough.” The cases are damaging because they show Trump not driving a hard bargain with other businesses, but harming ordinary, hard-working Americans.”

USA Today reported:

“Donald Trump often portrays himself as a savior of the working class who will “protect your job.” But a USA TODAY NETWORK analysis found he has been involved in more than 3,500 lawsuits over the past three decades — and a large number of those involve ordinary Americans, like the Friels, who say Trump or his companies have refused to pay them.”

The aforementioned list of Nevada Republican officials and candidates can evidently swallow all manner of scandals involving housing discrimination, employment discrimination, stiffing small businesses, highly questionable casino operation policies, immigration practices (as opposed to empty rhetoric), and publicized infractions of the acceptable ways to use foundation funds —

Perhaps they can sputter about the “e-mails,” a large nothing-burger of specious speculation and Republican investigations of the investigations and the people investigating the investigations … or the Clinton Foundation with its top ratings from Charity Navigator and Charity Watch [AP] but the hard facts remain that Mr. Trump has been and may continue to be involved in practices which are illegal at worst and ethically questionable at best.

Representatives Amodei, Hardy, and Heck, Attorney General Laxalt, and Governor Sandoval should be asked directly how they can continue to support a presidential candidate who has demonstrated a willingness to break the rules of casino operations? To engage in housing discrimination? To refuse payment to employees and contractors (including his own campaign staff)? To engage in unlawful immigration practices?

The answers should be enlightening?

*Cresent Hardy has since decided he will do everything he can to get Mr. Trump elected. [LV Sun]

Comments Off on Scams and Scandals: Is Nothing Enough to Put Nevada Republicans Off Trump?

Filed under Amodei, Heck, Nevada politics, Politics

That Changing Trump Tax Plan and the People Who Love It

 Trump Tax Plan It’s time to haul out the old Etch-A-Sketch template from the Romney campaign for another deployment in the Trump 2016 version – Trump has offered two tax policy proposals.  Neither one accomplishes much more than exacerbating the problems of the current tax code; in fact they’d both do more damage than good.  

Representative Joe Heck (R-NV3) candidate for the Nevada Senate seat and Danny Tarkanian, perpetual candidate and now a contestant for the 3rd Congressional District seat, have both endorsed Donald Trump as their choice for president, and here’s what they’re getting in the bargain.

A Tax Plan for the Top 0.1%

Bracketology: The Tax Policy Center analyzed the initial Trump Tax Proposal (December edition) and this release was followed by significant changes in the original proposal as of August 16, 2016.   And here comes the confusion:

“Trump’s original tax plan included defined brackets, which have since been removed from his campaign website. Trump’s standard deduction increase would make the first $25,000 in income tax-exempt. According to his original plan, the lowest bracket would then apply to all taxable income between $25,000 and $50,000 for single taxpayers, the middle tax rate would be assessed on income of $50,001 to $150,000 and the highest rate would apply to income above $150,000. For married couples, the income ranges would be double these amounts.”  [Motley Fool]

And now:

“As a practical matter, Trump’s plan features a sizable tax-free bracket. He wants to quadruple the standard deduction (currently $6,300) to $25,000 for single filers and $50,000 for joint filers. As a result, about half the population wouldn’t pay income tax.” [TaxAnalyst]

As everyone who has ever filed with the IRS knows full well, what a person actually pays is tax on the adjusted income – income after deductions. If we don’t know what the allowable deductions are then it’s almost impossible to discern what the tax proposal actually means for the average tax payer.  It also isn’t helpful that the ‘defined brackets’ have been removed from the policy section of the Trump info-site.  We can guess that the 12% rate goes for those with taxable incomes between $25,000 and $50,000; 25% for those with taxable income between $50,000 and $150,000; and, 33% for those with taxable income over $150,000.

Who plays in the Brackets?  Here comes the fun, and the way the Trump Tax Plan benefits the upper income earners.   We need to look at Trump’s “pass through entities.”   This is a loophole not only large enough to drive a tractor trailer through, but most of the freight cars on the Union Pacific as well.

“Trump would go one step further, creating an enormous tax loophole for the rich by applying his 15 percent corporate rate to “pass-through” entities as well. Pass-through entities are businesses whose income are not taxed at the corporate level, but rather passed through entirely to the businesses’ owners and then taxed at the owners’ individual income-tax levels. High-income households can easily avoid paying their full income tax bill by reclassifying their income as pass-through income. This loophole allows Trump to claim that he is closing the carried interest loophole, while actually lowering the rate that hedge fund managers would pay from 23.8 percent to 15 percent.”  [EPI]

In 2012 the state of Kansas under the direction of Governor Sam Brownback and a GOP controlled legislature enacted this loophole with disastrous budget results, because of  reduced taxation rates for LLC’s, S Corps, partnerships, farms, and sole proprietorships.

The normally extremely conservative Tax Foundation is not amused:

When the exemption was passed in 2012, it was projected that 191,000 entities would take advantage of the provision. As more and more people have realized the very sizeable tax advantage of being a pass-through entity in Kansas, that number ended up being 330,000 claimants, over 70 percent more than was anticipated.  It’s important to note here that while decreasing taxes is generally associated with greater economic growth, the pass-through carve out is primarily incentivizing tax avoidance, not job creation. [TaxFnd]  (emphasis added)

Thud.  That’s the sound of budget and revenue problems hitting the floor as a result of a ‘carve out’ for the top income earners disguised as a tax cut for small businesses.  Here’s a simple example. If I were earning $165,000 per year working for the Acme Explosives Company, I would ask my employer Wile E. Coyote to immediately re-hire me as an “independent contractor.”  I would re-create myself as an “S” corporation. Handy, since I live in Nevada which doesn’t have a personal income tax, and thus doesn’t recognize the federal S corporation election.  I file the paperwork, get my EIN number, pay some fees, and bingo! – I am taxed at the 15% rate rather than 33%.  There is obviously no job creation here – just a wonderful and perfectly legal way for me to reduce my “bracket” at the expense of those who don’t have the wherewithal to follow my shady example.

The Wichita Eagle editorial board summarizes:

“As part of the 2012 tax cuts, about 300,000 business owners in Kansas don’t have to pay state taxes on pass-through business income. Not only do many Kansas wage earners think this is unfair, so do some of the business owners receiving the tax break – especially when the state is facing serious budget problems.  The exemption is costing Kansas about $260 million a year in revenue. And contrary to what Gov. Sam Brownback promised, it hasn’t acted “like a shot of adrenaline into the heart of the Kansas economy.”

Trump, Tarkanian, and Heck would seemingly like to have Nevada and 48 other states go the way of Kansas?  Only if we’d like to raise tax avoidance and cheating to an art form.

Playing with Children:  Another element of the Trump Tax proposal is the child care tax deduction, and here too the top 1% fare very well thank you.   It’s important to remember at this point that the economic value of a tax deduction increases with the marginal rate of the payer. Or, the higher your tax bracket the more valuable the deduction – for child care.  The deduction is of no use whatsoever to someone already in the Zero bracket but is ever so helpful for those in the upper income levels.

Playing for the Children:  Mr. Trump is pleased to tell us that the Federal Estate Tax is a “horrible weapon which has destroyed many families…”  Not. So. Fast.  “Today’s estate tax is only imposed on less than 0.2 percent of households. Fewer than two estates in a thousand pay it. More than 2.5 million Americans die each year, but less than 5,000 estates were taxed in 2014. Only estates of $5.4 million or more must pay any estate tax at all.” [C&L]   Perhaps it is not too much to return to the appellation “The Paris Hilton Legacy Protection Act,” for this long sought GOP gift to the rich.

There are some serious questions which should be posed to Mr. Trump and his supporters like Mr. Tarkanian and Representative Heck:

#1.  What exactly are the specified brackets in the modified Trump tax policy proposal?  We can assume that the new rates apply to the old brackets but without clarification from the campaign there are significant questions about the revenue projections (or revenue deficit projections) which remain unanswered.  Do those brackets leave us with a revenue deficit of $3 trillion over ten years?  [Tax Analyst] If so, thus much for budget balancing and other forms of fiscal contortion.

#2. Does Trump mean to allow individuals to avail themselves of the Great Pass Through Tax Dodge?  If so, how does he intend to avoid what’s happened in Kansas?

#3. Does Trump intend to provide child care deductions for the rich while working families see none of the economic benefits of it?

#4. Do Mr. Trump, Mr. Tarkanian, and Representative Heck really mean to advocate for estate tax avoidance for those estates of $4.5 million or more? For less that 0.2% of the United States population?

We may have to wait for Trump Tax Policy 3.0 before these questions can be fully answered?

Comments Off on That Changing Trump Tax Plan and the People Who Love It

Filed under Economy, Heck, income tax, Nevada politics, tax revenue, Taxation

Trump Campaign Endorses Heck for Nevada Senate Seat

Trump Heck

“Las Vegas, NV – Today, at a campaign event in Henderson – at which a participant reiterated debunked conspiracy theories Congressman Heck has espoused – Donald Trump’s running mate, Mike Pence, officially endorsed Congressman Heck’s campaign. In response, Catherine Cortez Masto for Senate spokesperson Zach Hudson released the following statement:

“After he criticized Republicans who are not supporting Donald Trump’s candidacy last week, the Trump campaign returned the favor and officially gave Congressman Heck its seal of approval today. But this should come as no surprise. Donald Trump, Mike Pence, and Congressman Heck all share the same extreme agenda that would tear immigrant families apart, eliminate a woman’s right to choose, and ship more American jobs overseas.” [CCM]

This raises the question: Why would anyone WANT an endorsement from the Trump-Pence Campaign?  Especially when it’s associated with statements like:

An ‘extremely credible source’ has called my office and told me that Barack Obama’s birth certificate is a fraud”

“You know, it really doesn’t matter what the media write as long as you’ve got a young, and beautiful, piece of ass.” 

“When Mexico sends its people, they’re not sending the best. They’re not sending you, they’re sending people that have lots of problems and they’re bringing those problems with us. They’re bringing drugs. They’re bring crime. They’re rapists… And some, I assume, are good people.”  [MCUK]

Then there’s the infamous disparagement of John McCain’s service: “He’s not a war hero,” Trump said at the Family Leadership Summit, during a discussion. “He was a war hero because he was captured. I like people who weren’t captured.” […] Trump almost immediately denied saying McCain was not a war hero, and then criticized the senator for not doing enough for veterans.” [Politico]  This from a man who got several deferments from service during the Viet Nam war – and who was comfortably at home while McCain was imprisoned.

Followed by the Major Whopper:

I watched when the World Trade Center came tumbling down. And I watched in Jersey City, New Jersey, where thousands and thousands of people were cheering as that building was coming down. Thousands of people were cheering.” [Newsday] This has been thoroughly debunked!

I could stand in the middle of Fifth Avenue and shoot people and I wouldn’t lose voters,” Trump said at a rally in Iowa, pointing his finger at the crowd like he was shooting a handgun, as he expressed confidence that he would remain atop the Republican field.” [Newsday] The statement reads like it came from a cult leader, not a mainstream politician? And, then there’s this:

“In the Middle East, we have people chopping the heads off Christians, we have people chopping the heads off many other people. We have things that we have never seen before — as a group, we have never seen before, what’s happening right now. The medieval times — I mean, we studied medieval times — not since medieval times have people seen what’s going on. I would bring back waterboarding and I’d bring back a hell of a lot worse than waterboarding.” [Newsday]

I’m not sure anyone will ever be able to explain to Mr. Trump that the reason the United States and other nations signed the Geneva Accords was to PROTECT THEIR OWN TROOPS  from inhumane treatment.  But, wait, we can’t leave out Trump picking a fight with a Gold Star family.

“I saw him. He was, you know, very emotional. And probably looked like — a nice guy to me. His wife, if you look at his wife, she was standing there. She had nothing to say. She probably — maybe she wasn’t allowed to have anything to say.” [Newsday] Oh, please, that’s been explained, and Mr. Khan is the furthest thing from a misogynistic caveman of the Trump variety one can think of.  

I’m afraid the election is going to be rigged, I have to be honest.” [Newsday] We ought to take a closer look at this one.  He continued: “She can’t beat what’s happening here,” the Republican presidential nominee told the crowd in Altoona on Friday night. “The only way they can beat it, in my opinion, and I mean this 100 percent, if in certain sections of the state they cheat, OK?” [NBC] (emphasis added) Now just where might those “certain sections” be located?  We’ve moved from dog whistle into bull horn territory here – he’s obviously speaking of urban, predominantly African American or minority, neighborhoods. The premise here is that if a candidate gets votes from “others,” like Hispanic, African American, or other ethnic minority voters then the election is “rigged.”  Alternately, only white voters cast legitimate ballots – ergo, only elections with all white voters are legitimate.   White Nationalism/Supremacist thinking on parade for all to see. 

But wait, there’s more!  With the addition of Stephen Bannon to the Trump-Pence campaign we can expect more of this.

“Andrew Breitbart despised racism. Truly despised it. He used to brag regularly about helping to integrate his fraternity at Tulane University. He insisted that racial stories be treated with special care to avoid even the whiff of racism. With Bannon embracing Trump, all that changed. Now Breitbart has become the alt-right go-to website, with Yiannopoulos pushing white ethno-nationalism as a legitimate response to political correctness, and the comment section turning into a cesspool for white supremacist mememakers.” [Wire]

So, let’s review.  Candidate Heck has been endorsed by a campaign which has insulted __ Women __ LGBT__Native Americans__African Americans __Hispanic Americans __ Veterans __Muslims__ The US Military __ The US Intelligence Services (check all boxes).  Further, the campaign refuses to release Trump’s Tax Returns.  Remember the fuss Trump raised about Obama’s birth certificate and records from Columbia University?  Evidently, the rules that apply to other candidates and incumbents do not apply to the Mighty Trump.

Trump and Pence are leading the Party which proudly advertises in its platform (pdf) the following radical right wing proposals:  [See also Alternet]

“The  Republican  vision  for  American  banking calls for establishing transparent, efficient markets where consumers can obtain loans they need at reasonable rates based on market conditions. Unfortunately, in response to the financial institutions crisis of 2008-2009, the Democratic-controlled Congress enacted the Wall Street Reform and Consumer Protection Act, otherwise known as Dodd-Frank.”

“The  worst  of  Dodd-Frank  is  the  Consumer  Financial Protection Bureau, deliberately designed to be a rogue agency. It answers to neither Congress nor the executive, has its own guaranteed funding outside  the  appropriations  process… If the Bureau is not abolished, it should be subjected to congressional appropriation.”

You read this correctly – all the protections in place to correct the banker’s reckless actions leading up to the last Recession will be wiped away along with any protection from predatory lenders.

“Minimum wage is an issue that should be handled at the state and local level.”

Translation: No increase in the federal minimum wage.

“We endorse the First Amendment Defense Act, Republican legislation in the House and Senate which  will  bar  government  discrimination  against  individuals and businesses for acting on the belief that  marriage  is  the  union  of  one  man  and  one  woman.”

Translation: Freedom to discriminate.

“We  support  firearm  reciprocity  legislation  to  recognize  the  right  of  law-abiding  Americans to carry firearms to protect themselves and  their  families  in  all  50  states.  We  support  constitutional  carry  statutes  and  salute  the  states  that  have  passed  them.  We  oppose  ill-conceived  laws  that  would  restrict  magazine  capacity  or  ban  the  sale  of  the  most  popular  and  common  modern rifle.”

Open carry, of anything, anywhere in a nation coping with mass shootings and tragic loss of life.

“We  assert  the  sanctity  of  human  life  and affirm that the unborn child has a fundamental right to life which cannot be infringed. We support a  human  life  amendment  to  the  Constitution  and  legislation  to  make  clear  that  the  Fourteenth  Amendment’s protections apply to children before birth.”

This is about as anti-choice as it gets.

“Impose no changes  for  persons  55  or  older.  Give  others  the  option  of  traditional  Medicare  or  transition  to  a  premium-support  model  designed  to  strengthen  patient  choice,  promote  cost-saving  competition  among  providers.”

Translation: “Premium Support” = Coupons. My, my, I seem to remember an advertisement from the Heck camp recently telling me that he supports Medicare?  Maybe not quite??

Representative Heck is now associated with not only an unpalatable platform from a reactionary party, but also with a white-nationalist, misogynistic, bigoted, abrasive, bullying campaign. It will be interesting to see how candidate Heck responds to his recent endorsement. 

Comments Off on Trump Campaign Endorses Heck for Nevada Senate Seat

Filed under financial regulation, Heck, Nevada politics, Politics, Republicans, Vote Suppression

Trump’s Racism: List One

Trump Racism 1

And, this is the man being supported by Representative Joe Heck, Representative Mark Amodei, and Representative Cresent Hardy.

Comments Off on Trump’s Racism: List One

Filed under Amodei, Heck, Nativism, Nevada politics, Politics, racism, Republicans