The 2020 Crash and Failed Response to Corona virus

So the Virus we knew was coming a decade ago finally hit us and the USA is woefully unprepared. Pay attention and please share these talking points as we still have a chance to reduce the damage the next time this happens, and it WILL happen again.

Why its so bad

• Trump disbanded the emergency response unit that was put in place to protect us. Standard Conservative policy, cut govt programs because individuals and corporations should be able to fend for themselves.
• Trump has made things much worse by not taking it seriously from the start and worrying more about the stock market than human lives. So he kept telling people it was contained and over rated, nothing to worry about. So it spread further.
• He waited to long to restrict travel and then exempted countries where has hotels.
• Testing kits were offered by WHO early on but Trump admin refused, so an American company could get exclusivity. Except of course the kits were made in China because of our disastrous trade agreement and turned out to be contaminated. This put us way behind the rest of the world.

Trump and Republican "Solutions"?

• Bailouts to major corporations.
• Payroll tax cuts which of course wont help the people sent home without pay or laid off.
• Finally after more than a month persuading insurance companies to not charge copays for testing and our taxes covering their costs. Meanwhile treatment wont be covered, and of course millions of workers will lose their insurance because there no longer working.

The Corporate Response

• Lay off workers because consumer demand in many industries is down.  Honestly you cant blame the companies, but rather than put people on leaves of absence so they keep their health insurance (If they can afford the premiums without a paycheck) their now out of work for an unknown length of time.

The Biden Plan

• This is what the status quo with our health care system looks like.Once you lose your job you lose medical coverage. Even before that happens your discouraged from getting testing (when available) or treatment because for many people the copays and deductibles are too high.
• Taxpayers by the way foot the bill when these people use the ER after it gets serious because they could not afford to go.
• Think about that come election time, The AHCA was better than what we had, and certainly better than the nothing Paul Ryan and Mitch McConnel came up with but it was not enough.

The Sanders Plan

Had Sanders won in 2016 and managed to get his Medicare for all plan through Congress (yes it was and is a long shot and hard. But anything worth doing is hard, and the alternative to not even trying is failure) we would simply not be in this mess.

• You have no Health Insurance now or its too expensive? Under Sanders plan you and all those healthy young people would have been paying into the same healthcare pool everyone uses.  Yale did a study and showed it would save $45 Billion a YEAR. Yes it costs 30 trillion over 10 years as the health insurance companies and the talking heads on TV tell you.  But were already spending 54 trillion in that same time period according to a REPUBLICAN study by The Heritage Foundation. In other words even they know it saves money, they just don't want YOU to know so Health Insurance companies will keep paying them off. Every researcher knows it saves money, they just tell you the costs in taxes but not the savings in your wallet with no more premiums, deductibles, and copays.
• Imagine if everyone who gets sick could get tested (Neither Sanders or Biden would have botched the testing kit thing) and would get tested because they could afford it. Maybe they lose their job for being sick, thats sad but they would still get medical care and maybe quickly find another job.Especially since companies would still be doing a good business.

Summary

Its really too late for this outbreak, we should have elected Sanders in 2016.

However there will be another one, maybe in a few years, maybe a dozen, we do not know when but we know it will happen. In the meantime 45,000 Americans die each year and thousands of newborn babies because people cant afford the current system. It works great for the upper class, lousy for everyone else. And do you really like your insurance company? Not talking about your doctor, but the company you pay every month to help with your medical bills when you need it - are they there for you when you need them? Or do they delay payments and string you along with paperwork?

Getting rid of a business that only makes a profit by not paying out what you pay them for just makes no sense. Of course we have the worst health care in the entire modern world!

Biden is winning the Dem election, not because people like his policies, exit polling in every single state so far proves that. He is winning because the millionaires on TV and the Radio, as well as those in D.C. are telling you everything is fine, lets not rock the boat. Ask yourself, is it fine for you? Would you like it to be better? Sanders can still win if people come out and vote not on nostalgia over President Obama, not over fear of stupid buzz words like socialism but because they want a better future. If Sanders loses America loses, simple as that.

Its true he may not get his plans through Congress and we may lose anyway. But the other side is telling us we certainly will lose of they win and Sanders is defeated because they will change nothing.

I fought for America in the USAF, I'm not surrendering now. My country and generations after me deserve better!

Single Payer Week: Scare Tactics

Single Payer opponents rarely use facts to counter it as those are easily refuted. Instead they try to overwhelm with scare tactics and shout their opponents down. Watch them and you'll see.

Common Scare Tactics

• Its Socialism: While socialism can go to far the concept is not inherently bad. Other things that can be attributed to socialism, police, fire departments, Non profits that get tax breaks, including churches, FEMA and the National Guard going in for disaster relief, charitable contributions being tax deductible, Social Security, National Parks, and other ideas where the government helps the American people rather that let everything go wild.
• Long wait times for care: Ask your friends from Canada or European countries about it, I have. ERs are based on Triage so see the ones at greatest risk first then everyone else. Other visits you call your doctor and make an appointment. In the USA you may have to wait to have the doctors office check with your insurance company but otherwise your delay is comparable to most other countries.
• Its expensive!: The most conservative estimate (Koch brothers) says it will save $500 billion over the next ten years! Some say as much as $17 trillion, though most estimates come in around saving $2 trillion. Our current system means average medical costs are at least twice that of most countries, and drug prices even more than that.
• Healthy people will have to pay the costs of sick people! Really Mr. Ryan? This should not even need to be addressed but that is exactly how it works now. Insurance companies charge people and hope they are low risk so they make a bigger profit.
• Privatized Healthcare is anti capitalism! Doctors and hospitals will still be privately owned and run, all that changes is you pay the government instead of an insurance company. How well do you like your insurance company anyhow?
• Government run programs are as efficient because they are not trying to make a profit. This IS true for some things. And is a strength of capitalism vs. say communism. However you need to look at the details. If a company produces a product and you dont have to buy it they need to sell it at a desirable price or you wont buy it. Health care does not work this way for most things. If your sick you need care and will pay anything you can to get better. Companies know this which is why prices are so high and the number one people go bankrupt in the USA is medical bankruptcy. Medicare is the most effecnt system in the USA because it has a low overhead and does not spend money lobbying or trying to create complicated policies to avoid covering you when you get sick.
• But Venezuela! A popular Fox talking point. Venezuela like almost every other country in the world has socialist health care and the country is in sad shape. But so does Canada, England, Finland, Sweden, and again just about every other country in the world. They have it so bad because the government is corrupt. Are you really saying that America is so pathetic that instead of doing it better than everyone else we would do it worse?

Tax Scam

1000+ pages?!  That is simplifying the tax system?
Included in the latest version...

• Excise tax added to certain people working for a non profit.  So not only are they taxed on income they get a penalty for going to a non profit.  Why?
• Individual cuts still temporary.  All expire in 2025.  Yes they may get renewed but that they have to put that in there to keep the deficit down means its going to be a problem.
• State and Local tax deduction capped at 10K
• Repeal the AHCA mandate means young healthy people drop out everyone else pays higher premiums
• .Corporate rate 21% but most loopholes left in, and Doctors and a lot of small businesses will get hit harder.  Another reason premiums and health care will go up.
• Special kickback to real estate people.
• Carried Interest (Wall Street loophole) still left in despite Trump and everyone in the GOP asked saying they would get rid of it.

Think about this.

• If the GOP thinks this bill will be great for wage growth, why are none of them able to offer specifics?
• If its really good for America why do most economists disagree?  Why rush this through in a nonpartisan manner and avoid any public hearings?  Only Lobbyists were invited to the party, the public was left out.
• Why does tax reform need to be over ONE THOUSAND pages long?  If they were really closing loopholes it should be short.

If they have to rush it through before people get a good luck that indicates they are afraid of what people will see.

GOP Tax scam, not about Conservative Values, just greed.

So the final version of the GOP Tax bill is out.
I haven't been able to find the full text online yet but have read the House and Senate versions going into this plan.

Senate Taxplan 515 pages!

https://www.finance.senate.gov/imo/media/doc/11.20.17%20Tax%20Cuts%20and%20Jobs%20Act.pdf

House Bill 429 pages

https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf

House Summary and breakdowns

https://waysandmeans.house.gov/tax-cuts-jobs-act-resources/

You have probably heard the talking points already, it raises the deficit, does very little for wage and job growth while granting huge boost to the super rich and corporations, hurts teachers and firefighters, will prompt millions to lose their insurance and raises everyone else premiums, close many hospitals, increase the national debt, and even how the individual tax cuts are only short term while corporate tax cuts are permanent.

They put the lie to the test when they said this was about reform and closing loopholes.  You did not need a 500 page bill if you got rid of all (or even most) of the loopholes.

Further, this bill punishes individual tax payers in a lot of hidden in the dirt pile ways.

• Repeal of Casualty loss:  You wont notice this until your hurting but this repeals a deduction if you suffer a major loss such as your house burning down, flood damage, earth quake, tornado or even theft. That deduction enabled you to rebuild and get back on your feet faster, However they repealed it, except for Hurricanes.  Wonder why Republicans decided to repeal it for earthquakes but leave it for hurricanes? However, everyone is at risk for these things.
• Territorial Tax:Most countries use this system which means your not taxed on income made overseas. We tax our corporations on that money when they bring it back to the U.S. Personally I am ok with going to a territorial system to help our companies be more competitive and avoid offshore tax havens.  However lets not take on more national debt or lose jobs to do it.
• Chained CPI: This little gimmick will keep the standard deduction from keeping up with inflation. So as inflation goes up or taxes go up faster!
• Repealing the corporate Alternative Minimum Tax: Corporations already pay an average of 18% tax even though we have a top rate of 35%.  Removing the minimum tax means many larger corporations will be able to avoid paying any taxes at all!  Meanwhile smaller businesses will pay the bulk of corporate tax.  How fair is that?
• Repeal of Deduction for Income Attributable to Domestic Activities: Currently companies are allowed to deduct up to 9% (6% for oil and gas companies) for costs related to making and selling stuff in the US.  Getting rid of this will just incentivize them to move those operations overseas.  More job loss.

This bill does nothing to encourage companies to increase wages or hire more workers. Companies are already sitting on tons of cash and have access to low interest rates.  Instead of job growth we see mergers and stock buybacks. The only way to boost the economy is to increase consumer demand.

A letter to my Senators on their horrible tax bill.

Dear Senator Lankford and Senator Inhofe,
This is a horrible bill.
It increases the debt, takes away health care for people through backdoor legislation with the repeal of the mandate, and promotes big business over small business (especially service industry, one of the largest segments) all to give more money to the richest people and large corporations . There is nothing in this plan that will increase wages or new jobs, instead the money will be used for stock buybacks, dividends, exec bonuses, increased automation, and mergers so will actually cost jobs.
Companies will only hire more people if they need more work, not just because they have more money.  To grow the economy you have to work on the demand side, not the supply side.
Lowering taxes is fine but it needs to be fair, honest in its presentation, and budget neutral or better.
Final comment on the estate tax, why cut it? It was designed to prevent an aristocracy class and if Americans have to pay taxes on gifted money why not inherited money?

Vote no on this bill and rework it from the ground up, in bipartisan fashion and with public input.
Not rushed legislation so you can claim a victory for your donors over the American people.

Rory

We NEED to get rid of establishment politicians, America has been taken over by corporations and wealthy donors and now works against the principles it was founded on. Vote for new blood that promises to only take individual donations so they work for the majority of America.

The Tax scam is out

So the House and Senate Tax bills are out.  They dont match so details will be hammered out in committee if they pass.  Here are some of the highlights, its several hundred pages so there are a LOT of loopholes to read through.
Going Away or Down ...

• SALT (Local state tax deductions) for most individuals, Those who incorporate still get them.
• Personal property tax deduction, lowered or gone
• Import tax for corporations (making it cheaper to import things)
• Earned Income Tax Credit
• Medical Deductions
• School Loan Interest Deduction
• Teachers deduction when they buy school supplies for the kids.
• AMT (Alternative Minimum Tax)

Still In....

• Carried Interest
• Corporate property tax deduction
• Golf course owner deduction
• Real Estate LLC and Pass Through deductions
• 
  

The claim is 800 to 1200 break for middle class, higher wages because companies will take the money they save a raise wages. How many people think they would rather raise wages then buy back stock, invest in more automation or buy out the competition which means lays offs and more people out of work?  Or maybe they will just raise the executive bonuses.

This is just another con job and not even a good one, the Republicans in Congress think and are counting on Americans to be stupid to see it till its too late, and too lazy to vote.

We proved Trickle Down Economics does not work, lets not give it another chance.

GOP one step closer to putting America into another recession

So the Senate approved the budget which is built around cutting taxes.  Most of the taxes cut will be for the richest people with many middle income people actually paying more in taxes according to the CBO.  Further, cuts to Medicare and Medicaid and an increase in the deficit will cause problems down the road.
However the real lie here is that the corporations getting tax breaks will boost productivity and boost the economy.  We have seen this before and they will use the money to buy back stocks and consolidate by buying competitors which will cost jobs.  When companies put more money into automation and buy other companies they need fewer workers so lay people off.
Ask your representative how this helps America and do not let them give you spin or pie in the sky promises.  See if they can offer any provable history that this actually works.  They will have none to offer.  I have been challenging my reps for two months now and get nothing but crickets on the issue.

Watch my video on Trickle Down Economics ( what this tax plan is based on) and next weeks video on Demand Side Economics.

The problem with the GOP Tax plan

Made a video to explain the issues with the GOP Tax plan