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With A Flick Of His Pen, Trump Saves American Taxpayers $87 Billion

YUGE!!

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To listen to the mainstream media one would believe that the sky is quite literally getting ready to fall and the fault for that dilemma and the imminent peril of all mankind rests directly at the feet of President Donald Trump and his policies. Yet is there any truth to that? Or is it simply the same partisan melodrama, aided and abetted by a feckless mainstream media working as the propaganda arm of the Democratic party?

Well, one only needs to take a look at the recent economy to make that assessment and it is happening again – tax receipts soared in America after the recent tax cuts approved by President Trump.  U.S. state and local government tax revenue climbed to $350.2 billion in the first quarter of 2018, a rise of 5.8 percent compared with the same time period in 2017. Individual income tax collections had big gains for a second-straight quarter with a 12.8 percent increase to $107.4 billion in 2018’s first quarter.

But I thought President Trump’s policies were going to destroy the economy! Except this summer will go down as one of the more prosperous in United States history where Americans have more money in their own pockets with the ability to enjoy trips and family vacations, thus generating more revenue and so the cycle goes.

Where is the promised doom and gloom? When exactly is the sky going to fall?

Trending: In Historic 9-0 Decision, Supreme Court Just Shredded Democrats – YUGE!!!!

More positive results in that President Trump’s tax cuts have actually resulted in a GAIN of federal revenue – not that you would ever know that by listening to the mainstream media, especially with the recently created hysteria surrounding the US/Russia Summit in Helsinki.

From Western Journal

“Despite the cut in tax rates — brought forward by the introduction, in February, of revised tax withholding tables — federal income tax revenues for the first half of 2018 are 9 percent higher than in the first half of 2017.

The difference comes to $76 billion of unanticipated revenue…

Indeed, the Treasury Department’s monthly reports suggest that, despite the tax cut, actual revenues for 2018 will exceed those of 2017.

In explaining the turnabout, the CBO says the increase “largely reflects increases in wages and salaries.”

It is clear the impact of tax cuts is much more positive for growth and that has been proven over and over again with multiple studies making the same conclusion in more than 170 cases. The evidence of the positive impact of lower corporate taxes is found in growth, jobs, and wages and the findings have repeatedly been published with examples of more than 200 cases in 21 countries demonstrating tax cuts and expenditure reductions are much more effective in boosting growth and prosperity than increasing government spending.

Yet Democrats continue to spout their socialist ideologies denying the positive impact of tax cuts with claims that they simply make deficits rise. The fallacy of this argument has nothing to do with tax cuts, but instead with increases in government spending in addition to tax cuts. Simply put those that use this argument believe that governments will spend any and all revenues, and in some cases even increase spending.

These are the same people that are against a balanced budget and refuse to be accountable to the very people whose wages make their jobs possible. This is wrong – the marks of good leadership show that one never asks the people to do something that you yourself are not also willing to do. Yet these people expect that very thing, expect the American people to continue to sacrifice while they live lean and work harder for less.

This is the philosophy of so-called economist Paul Krugman. He argues in an article penned for the New York Times entitled – “Time to Borrow” written just after the Obama administration increased debt by $10 trillion. Krugman defends deficit spending, yet considers tax cuts as negative simply on the basis that deficits MAY increase.  Only Keynesian economists manage to pull off such mind-bending logic.

Deficits need not rise or even exist in the first place if government spending stays in line with revenue growth. It is simple math – Do not spend more than you have.

Chief Economist Daniel Lacalle states in the Epoch Times speaks of the causes of deficit spending and the negative effects of it –

“While analyzing the deficits of the G-20 economies during the past 15 years, we found that more than 80 percent come from higher spending. Even in the 2008–2010 crisis, European government deficits were explained more by the “stimulus” plans and government spending increases than any loss of revenues.

Spain, for example, lost 40 billion euros of tax revenues from the bursting of the real estate bubble but deficits rose by 300 billion euros, driven by stimulus and automatic “stabilizers.” The European Union spent almost 1.5 percent of its GDP on stimuli and increased taxes, sending deficits and debt to GDP to all-time highs.  The United States increased taxes by $1.5 trillion under the Obama administration but the average deficit was 5 percent of GDP. The final tally was a $10 trillion increase in national debt.

During the Obama administration and the massive expansionary monetary policies of three rounds of quantitative easing (QE) and ultra-low interest rates, economic growth on average was only 1.4 percent and 2.1 percent if we exclude the crash year of 2009. That compares to an average of 3.5 percent during the Reagan administration, 3.9 percent during Clinton’s, and 2.1 percent during Bush Jr.’s.”

As we are currently seeing the evidence of the positive effects of tax cuts on jobs and growth is clear and we are currently reaping the benefits. The recently released 2018 “Economic Report of the President” shows that tax cuts generated more federal revenues even after adjusting for inflation and population growth.

Still not convinced? Lacalle cites historical examples as well, further driving home the benefits and positive effects of tax cuts on the economy

“President John F. Kennedy’s major tax cut, which included chopping the top marginal rate to 70 percent from 91 percent, became law in early 1964. The economy grew at an average 5.5 percent, and unemployment fell to 3.8 percent. In turn, the annual deficit shrank to $1 billion from $7 billion as individual income-tax receipts nearly doubled.

President Ronald Reagan cut the top personal rate from 70 percent all the way down to 28 percent. Between 1982, when the first round of Reagan’s across-the-board tax cuts went into effect, and 1990, when President George H.W. Bush broke his no-new-taxes pledge, individual tax receipts jumped 57 percent to $467 billion.

And even President Bill Clinton’s budget surpluses didn’t materialize until after the president in 1997 signed a GOP tax bill that cut the capital-gains rate to 20 percent from 28 percent. Tax receipts from capital gains soared as capital investment more than tripled. Between 1996 and 2000, “the increase in capital gains revenues accounted for a little over 20 percent of the total increase in federal revenues,” former Treasury official Bruce Bartlett said. For the first time, individual tax receipts hit $1 trillion.

After President George W. Bush in 2003 signed the largest tax cut since Reagan—including dropping the top marginal rate to 35 percent from 39.6 percent—government receipts from individual income taxes rose from $794 billion to a peak of $1.2 trillion in 2007, when the mortgage crisis began—a jump of 47 percent.

Stronger economic growth expanded the tax base and brought in so much revenue that Bush more than halved the deficit over that period.”

There is simply no public sector without a thriving private sector. One cannot tax themselves into prosperity, as taxes are neither a vehicle for growth, nor for job creation. Deficits are not an excuse, as a deficit should be addressed by a reduction in spending.

The current gain in revenue has done exactly that, cutting the predicted deficit in half. This means that even after the GOP cut taxes for Americans, the government is STILL taking in more money. This is quite simply because as businesses do well, they expand and hire more people. They also increase wages, which results in people spending more money due to more residual income. More money is being pumped into the economy, resulting in additional tax revenue.

Tax cuts are a necessary tool to keep an ever-expanding bureaucratic system from destroying the economy. As taxes are raised, more unemployment goes up as does government dependency. Then a large swath of the population is under the thumb of the government – it is called communism and it kills.

Former Secretary of State Henry Kissinger said it best – “Control oil and you control nations; control food and you control the people.”

 

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Obama Attacks The Wealthy For Huge Houses Before Returning To His $8 Million Mansion

He’s the biggest hypocrite ever!

Right Wing News

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As the most reliable and balanced news aggregation service, PS Republic offers the following information published by proven trustworthy news source The Daily Caller.

The Daily Caller provides the following report on Barack Obama hypocritically attacking wealthy Americans for having huge houses despite owning more than one multi-million dollar homes:

At a recent speech in South Africa, former President Barack Obama criticized wealth inequality, saying those who have more money should share their earnings with the less fortunate.

“Right now, I’m actually surprised by how much money I got,” Obama said of the more than $20 million he earned between 2005 and 2016.

Obama then chided wealthy individuals for excess, saying, “There’s only so much you can eat. There’s only so big a house you can have. There’s only so many nice trips you can take. I mean, it’s enough.”

“We’re going to have to worry about economics if we want to get democracy back on track,” Obama continued “We’re going to have to consider new ways of thinking about these problems, like a universal income, review of our workweek, how we retrain our young people, how we make everybody an entrepreneur at some level.”

Obama continued on income inequality, saying, “History shows that societies which tolerate vast differences in wealth feed resentments and reduce solidarity and actually grow more slowly. And when economic power is concentrated in the hands of the few, history also shows that political power is sure to follow and that dynamic eats away at democracy.”

After the speech calling for rich people to get smaller houses, Obama traveled back to America and to his $8.1 million eight-bedroom, nine-and-a-half bathroom mansion in one of the wealthiest neighborhoods in the world.

The Obamas are also in the middle of installing an in-ground swimming pool and another terrace to the house, according to reports. The mansion is Obama’s second home.

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CNN Guest LOSES IT On Air – Rolls Eyes At Trump Supporter Talking About Black, Disabled Son [Video]

It got worse as the interview went on

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Watching CNN is not only depressing for me, it’s akin to torture these days. I see very little real news there. It’s mostly overblown opinionated rhetoric and is so anti-Trump it’s unhinged. Take for instance this segment with Gina Loudon, who is a regular guest on Fox News and Fox business and just appeared on CNN as she frequently does. She waded into an extremely hostile environment in this interview. It takes a lot to get me riled up, but I was incensed after watching this hate-filled segment.

I have never had the displeasure of watching CNN commentator Angela Rye before that I know of. Hopefully, I will not be cursed with her hateful rhetoric again anytime soon. She’s an attorney and the Principal and CEO of IMPACT Strategies, a political advocacy firm in Washington, DC. Rye is also the former executive director of the Congressional Black Caucus. Last night she stated that she agrees with Gov. Andrew Cuomo’s assertion that America was “never that great.” That’s right, she’s an America basher. Sorry, but that’s the way I see it. Not to mention the fact that she called Loudon a b*tch on air. Classy… not.

It got worse as the interview went on and I highly recommend you watch the video at the bottom of this post for yourself so you can see what I mean here. Rye was debating Trump campaign adviser Gina Loudon. She kept slamming the Trump administration for its so-called lack of diversity. She stated that Omarosa wasn’t in the West Wing and that Dr. Carson was somehow not qualified to lead HUD because he’s a brain surgeon and doesn’t work with his hands. You might want to ask his patients about that. Just sayin’.

Things got extremely vitriolic when Loudon tried to empathize with Rye. Loudon was not rude or out of line here. That was all Rye. “Angela, I understand your feelings on this,” Loudon said. “No, you don’t,” Rye shot back. Translation: you are white, so how could you? “I have an adopted minority son — yes, I do — who happens to have Down Syndrome,” Loudon replied as Rye lost it, derisively rolling her eyes and then refusing to look at the camera. She knew her hatred and contempt was showing on her face and was trying to compose herself. “He experiences bigotry every single day in a myriad of ways, not just because of his skin color but also because of his disability.”

Loudon was adamant that she would never support a president that was a threat to her son’s future and called for a “constructive conversation” with Rye. That’s never going to happen, trust me. “It’s tantamount to what Andrew Cuomo said today … that America has never been great,” Loudon said of Rye’s negative comments about the Trump administration. “America has never been great, and it’s not great because people like you come on and lie for the President of the United States and then tout, bring out your son as an example. Like, you gotta be completely ashamed of yourself,” Rye snarled. That’s not what she did, but if you are looking for a real example of that kind of behavior, please see Jimmy Kimmel.

Loudon called for starting with what they agree on and to have a dialogue that isn’t so divisive, but Rye blamed Trump for calling people names and setting a bad example. Excuse me… isn’t that what Rye is doing herself here? What a hypocrite. This woman is dripping with venomous hatred for President Trump and I have no idea why CNN thinks she makes a good commentator with this kind of off-the-edge bias.

In the interest of getting the back and forth correct here, I am going to provide you the transcript of the pertinent exchange via Real Clear Politics. The word ‘b*tch’ was left out, but you’ll hear that in the video. You can decide for yourself on this one. I’ll just leave this here for review:

“ERIN BURNETT, CNN HOST: OUTFRONT now, Angela Rye, former executive director of the Congressional Black Caucus, and Gina Loudon, a member of President Trump’s 2020 reelection advisory council.

“Gina, let me start with you. You know, in the context we’re talking about, all this discussion about Omarosa, and whether there’s an N- word tape, and Kellyanne Conway not able to say the last name of one African-American she could label who worked with her in the White House, it would seem a simple question, how many black staffers work in the White House? She couldn’t even give a rough number. Does that disappoint you?

“GINA LOUDON, MEMBER OF PRESIDENT TRUMP’S 2020 RE-ELECT ADVISORY COUNCIL: You know, what disappoints me is the division and the fact that we’re having to count people based on their skin color, I don’t like that. And I think that, you know, you look back at our history, we have a pretty amazing history of overcoming slavery, of expanding civil rights, of women’s rights, and a lot of those things happened under American presidents who didn’t have any minorities at all on their White Houses.

“Thank God we do. I looked over the list of people I know there, about one-third are a minority or women. Those are great strides. Could they be better? Absolutely.

“And I know — I talked to some of my friends in the White House tonight, and they said, yes, they would love more diversity in the White House. The problem is when you have someone come out, and defend the president or even say they want to sit down and have a conversation with him, for example, Kanye West, they’re completely annihilated in the press.

“And so, there is a trepidation there. So, I think if we could focus on the fact that we would like to build on that and work on it together, I know the administration is open to that.

“BURNETT: So, your number is roughly a third and that counts women, too. So, you’re saying two-thirds are white men, and one-third are diverse in some way, but you’re counting women in there? Just to make sure I understand.

“LOUDON: Erin, if you look at the comms department, as far as my count, I did this cursory before the show, but Hogan Gidley is the only white guy I can even find in the comms department. So, I think it depends department to department. It’s going to vary.

“But I think the bottom line is the policy that comes out of this White House, 700,000 new jobs, record unemployment for all minorities and women. I mean, you know the list and it’s a good list.

“And there’s more coming out. There’s new — on Dodd-Frank repeal. There’s great news coming out about small business leaders, many of them are minorities. So, there’s a lot of good news, Erin.

“BURNETT: Angela?

“ANGELA RYE, CNN POLITICAL COMMENTATOR: I think I got stuck at Gina saying that American presidents have done a great deal for people of color like ending slavery? Like I think I’m stuck in 1865 right now. Like I can’t believe that’s —

“LOUDON: That was a Republican president. RYE: You know what, sis? And that’s great, but you just really missed the mark. For you to have to say, right, that we don’t necessarily need diversity in this White House.

“LOUDON: That’s not what I said. That is not what I said.

“RYE: Let me tell you what I heard, I don’t think you hardly understand.

“(CROSSTALK)

“RYE: You’re going to keep talking over me. My black life matters and so does my voice. Listen to what I’m saying to you.

“What you said was deeply offensive. What I am telling you is you can’t say, at least you shouldn’t feel comfortable saying it in 2018 that this White House not having diversity can be akin to presidents who didn’t have any black people on their staff —

“LOUDON: They do have diversity.

“RYE: — but for slavery, freeing slaves. Like that’s not OK in 2018.

“LOUDON: Thank God it happened.

“RYE: I let you talk through all of that nonsense. I just need you to let me finish my point. My point is this.

“You’re not going to be able to successfully name one black person who works in the West Wing because you know what, Omarosa didn’t even work in the West Wing. So, regardless of your points about slavery which are nonsense, I hope you RIP those talking points tonight, they should never be resurrected.

“I’m telling you it is a problem in this White House with the staff, the reason is it’s slim pickings. You know why? Because nobody wants to work for a racist. There’s not a single senior black person in the White House, and don’t you dare say to me Ben Carson because he doesn’t work there, how dare his gifted hand who is a brain surgeon and who has never done anything on a construction project become the secretary of housing and urban development. This whole administration is nonsense just like your talking points.

“BURNETT: Go ahead, Gina.

“LOUDON: You know, Angela, I understand your feelings on this but here’s my point.

“RYE: No, you don’t.

“LOUDON: I have an adopted minority son, yes, I do, who happens to have Down’s syndrome. He experiences bigotry every single day in a myriad of ways, not just skin color, but also because of his disability.

“And I understand that you and I don’t agree, but I would not support a president I believed would be a threat to his future.

“RYE: Well, you are.

“LOUDON: I would like a constructive conversation. I think, you know, I think points like yours that are focusing only on the negative and not even acknowledging 700,000 new jobs for black people in this country, record low unemployment and the rest of it, it is tantamount to what Andrew Cuomo said that upset me, too, that America has never been great. Not focusing on what we’ve done well —

“(CROSSTALK)

“RYE: America has never been great. It is not great because people like you come on and lie for the president of the United States and tout, bring out your son as an example? You should be completely ashamed of yourself.

“LOUDON: What America is doing well. And how about look at what we can do and agree to build on it —

“(CROSSTALK)

“LOUDON: — rather than call each other names, and cut each other down and be divisive. I don’t think this is — I think America is tired of the division, Angela.

“RYE: Starts at the top, Gina. Guess what? As soon as your president stops calling people names, maybe he will set a better example for everyone else.”

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