(UPDATED) It’s the Economy, [Prznint] Stupid

Our Stable Genius

As everyone knows, Comrade Stupid is running for re-election and his central message is that his mango-hued skin is natural, er, the economy is great so voters shouldn’t eff with it and vote in a godless socialist. And as you have probably also heard, there’s a great likelihood that a recession is gonna hit us anyway.

Prznint McDeals is still wagering on his good-and-easy-to-win  Trade Wars, and continues to try to pin any blame for anything economic on Federal Reserve Chair Jerome Powell. Because deflecting responsibility is the hallmark of a leader. And of course, Prznint Art-of-the-Deal also is saying everything is smooth sailing, too. Also.

As a result of the Trade Wars, bidnesses are cutting back on investments and manufacturing has slowed.

Proof? United States Steel will lay off hundreds of workers for several months, citing softening demand.

So according to The WaPo,  some White House officials have been discussing whether to push for a payroll tax cut to boost spending. The NYTimes suggests that some apostate in the Fourth Reich is suggesting that Tariffman reverse some of the tariffs. BURN THE WITCH!!1!

Of course, the Fourth Reich says both reports are FAKE NEWS!!1! Except when it isn’t:

Here’s another datapoint to consider:

“President Donald Trump said he can cut taxes by indexing capital gains to inflation without congressional approval, a move the White House has been considering for months that would largely benefit the wealthy. “We’ve been talking about indexing for a long time,” Trump told reporters at the White House on Tuesday. “And many people like indexing and it could be done very simply. It could be done directly by me.”

Why would you do that if you don’t need to? National Economic Council director Larry Kudlow suggested that indexing capital gains to inflation was a possible way to prevent a recession. You know, because giving Billions to Billionaires worked so well, let’s do it again.

Tiger Beat on the Potomac (thanks Charlie!) morning email thingie goes deep into the middle school halls to get the scoop!

“SPEAKING OF CUTS: Capitol Hill is not exactly receptive to cutting payroll taxes temporarily to bolster the economy — an idea Trump confirmed Tuesday he is contemplating. A senior House Democratic aide told the Washington Post that the House could potentially consider the proposal if paired with infrastructure and a $15 minimum wage increase. But it will be even harder to convince Senate Republicans, who already have concerns about the deficit.

“Republican aides told the Post that they were thrown off at how the White House could deny the possibility of a recession, while also floating the payroll tax cut as a way to improve the economy. “Frankly, this sort of came out of nowhere — this is like a creation of bad economic news and the White House trying to figure out what to do about it,” one GOP aide said. “If anything it shows that they’re concerned about the economy.” More from the Post’s Damian Paletta, Felicia Sonmez and Rachael Bade: https://wapo.st/2Z7UMtp

Also from Tiger Beat:

WE DID A ROUND OF PHONE CALLS Tuesday to people in Hill leadership and at the White House to find out how seriously we should be taking the payroll tax idea. The answers ranged from “not seriously” to “no one has any information on it.”

Tiger Beat AGAIN!

“SCOOP … NANCY COOK: “Trump team braces GOP donors for a potential ‘moderate and short’ recession”: “At a fundraising luncheon this week in Jackson, Wyo., headlined by both Jared Kushner and Ivanka Trump, acting White House chief of staff Mick Mulvaney acknowledged the risks to the GOP elite behind closed doors. If the U.S. were to face a recession, it would be ‘moderate and short,’ Mulvaney told roughly 50 donors, according to an attendee.” POLITICO

Prznint Stupid wants us to believe that economic news is FAKE NEWS!!1! — unless it’s good for him, personally. So here’s the thing: clearly the Fourth Reich is worried about the economy, and clearly they are trying to distract all of us from it. See Greenland, for instance.

UPDATE 1: Did they let Prznint Stupid do the math or what:

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6 Responses to (UPDATED) It’s the Economy, [Prznint] Stupid

  1. Wait, what? “Indexing capital gains to inflation?” That makes no sense at all. The tax rate on capital gains is a percentage. A percentage is self-indexing. Twenty percent of $1,000 or 20 percent of $2,000 is still 20 percent. And capital gains rates are fairly flat–they’re a straight-out 15% for all taxpayers with incomes up to $434,000 and 20% for incomes above that.

    Liked by 1 person

    • tengrain says:

      This will never make any sense, but it will rob the Treasury, and methinks he might gain from it too, also.

      Rgds,

      TG

      Like

    • MDavis says:

      To me, it sounded like the calculation of capital gains will be altered. So a capital gains of $1,000 will be run through an inflation calculator and the result will be the tax of, say, 20% of $950 or so. Alternately, the percentage would be adjusted according to the inflation, so an inflation rate of 2% would change the 20% rate to 18%.
      The attempting to hook everything up to capital gains, though, is the tell. Capital gains is a rich person’s tax consideration. The struggle is to find another way to give tax breaks to the well off and disguise it as an attempt to help out trump’s base.
      Won’t they be surprised!

      Liked by 2 people

  2. Dennis Cole says:

    The ONLY reason tRump and so many of his aides and advisors are suddenly so concerned about the economy is how it will affect the next election. A downward slump is fast approaching, and even a stunt like a payroll tax cut (read: lowered contributions to the SS and Medicare funds,) won’t stop the inevitable. Might slow it down some, but it didn’t really work all that well back when Obama tried it. And just like the last time, the Law of Unintended Consequences will come into full effect, and with fewer Ameros filling the fund, all of a sudden the grandmas get worried, and the grandpas start to vent at their local town hall meetings, and the next thing you know, politicos are struck by the idea that maybe this wasn’t such a good idea after all.

    But these Rethuglicons will never ever admit that Trickle-down economics, tax cuts, and more billions for billionaires just make a dire situation that much worse, no matter how much solid evidence is presented to them that it’s the actual, factual case.

    Like

    • R White says:

      What now makes their economic chicanery worse is that one of their own grifters, Art Laffer and his horrible and always wrong “curve,” were awarded the now trashed presidential medal of whatever that the worthless beltway media will point to as proof the guy isn’t a ghoulish hack.

      Liked by 1 person

  3. roket says:

    “Trump team braces GOP donors for a potential ‘moderate and short’ recession.”

    I strongly suspect that the GOP Donor Class has their own economic advisors that will advise them on just how ‘moderate and short’ the next recession will be.

    Liked by 1 person

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