Archive for March 4th, 2019

Trump may be wrong about the U.S. going socialist…

March 4, 2019

… AOC may be holding the matches, but the GOP tax reform provided the kindling. 

===========

Last week, I whined that – though I’m getting a tax refund this year – my income taxes went up in 2018.

I’m ok with that since I conclude that the corporate cuts turbo-charged the economy and the stock market … and my IRA account gains are much larger than my additional taxes.

But, I do have a mega-concern that I started touting way back in 2017 when the GOP tax reform was being crafted, debated and passed.

My mega-concern is the long-run tilt in voting dynamics, in the new age of the Green Dream, Medicare for All and Guaranteed Minimum Income (for those who are unable or unwilling to work).

Let’s start with a flashback…

Remember Mitt Romneys ill-timed observation about “47% of Americans”.

No, they weren’t Hillary’s “deplorables”, they were simply the folks who pay no Federal income taxes.

Well if the GOP tax plan got enacted … the 47% is still alive .. and now on steroids..

image
Source

Let’s drill down on the data…

(more…)