Donald Trump joined the cast of the Lifestyles of the Rich and Republican at Fox and Friends, as he does every Monday. This morning, he was checking in from a South Carolina Tea Party
Klan gathering. Elisabeth Hasselbeck was giddy and in awe that ticket sales for the Palmetto State-event rose sharply from 300 to 1,500 seats sold after Trump's name was added to the ensemble. A cavalcade of angry Republicans will line up at Fox News to express their disapproval of Tuesday's State of the Union (SOTU) address, as usual. This time, rumor has it, he wants to increase taxes on the 1% who can afford the tax hike.
All Republicans are harping on the idea (of increasing taxes on the wealthy in favor of helping less fortunate Americans) that the rich will be robbed to pay for a bunch of welfare kings and queens. This is part of the Golden Rule of Republicans: you're either filthy rich or you must exalt and praise the super wealthy because maybe you might get lucky and be one of them someday. CNBC describes this particular area of the SOTU address:
The centerpiece of the president's tax proposal is an increase in the capital gains rate on couples making more than $500,000 per year to 28 percent, the same level as under (the sacred standard-bearer of all things Republicans) President Ronald Reagan. The top capital gains rate has already been raised from 15 percent to 23.8 percent during Obama's presidency.
Conveniently, Trump omits the real fact-- these insanely profitable multinational corporations, don't really pay the highest rate on the planet.
After taking advantage of credits, exemptions, and offshore tax havens, (and get away with) paying an average of less than 13 percent, according to the Government Accountability Office. What’s more, the GAO found that more than half of them reported owing no federal taxes in at least one year between 1998 and 2005.
One of the most blatant abusers of our tax system is Walmart:
“Walmart receives an estimated $6.2 billion annually in mostly federal taxpayer subsidies. The reason: Walmart pays its employees so little that many of them rely on food stamps, healthcare and other taxpayer-funded programs. Walmart avoids an estimated $1 billion in federal taxes each year. The reason: Walmart uses tax breaks and loopholes, including a strategy known as accelerated depreciation that allows it to write off capital investments considerably faster than the assets actually wear out.
The Waltons avoid an estimated $607 million in federal taxes on their Walmart dividends. The reason: income from investments is taxed at a much lower tax rate than income from salaries and wages.”
It's a well-known fact that a tremendous number of companies actually get tax credits rather than paying the standard U.S. corporate tax rate.
As you would expect, the Donald said we need to make our country respectable again. Just ask any Fox News viewer and they'll tell you that we've lost all credibility because of the Kenyan, Muslim, lawless Barack Obama who has audaciously occupied the White House. With each passing day, we are losing the world's respect and we need to reclaim our greatness. But Trump doesn't believe the recent list of candidates whom Republicans would like to see as the nominee, is accurate, especially with Willard Romney being on top, for now.
Trump used to support Willard Romney, but he had harsh words for his performance in the 2012 race, especially as it was coming to a close.
Mitt Romney choked at the end... and the last month of his campaign; a disaster.
He reserved a bit more vitriol, when he disrespected President Obama, whose performances in the debates were
"a horror show." He had no confidence. He was afraid to go into the second debate. Frankly, he just choked. He choked like a dog."
"Some people just can't get the ball over the line," He's a nice man, but we can't do this again... These people are not going to be beating Hillary Clinton. He's still got that 47% comment weighing over him."
Steve Doocy asks Donald when he'd announce his own race for the White House, that is, IF he's announcing? Trump said that within the next three or four months he'll make the decision. Will he or won't he subject the country to look at the dead animal on his head, or will it be Rand Paul's head-critter that dominates the narrative? One thing's for certain: the choice for the GOP nominee will be a white male with the largest war chest. We can thank the Supreme Court for that unpleasant fact.