Jump to content
OneHallyu Will Be Closing End Of 2023 ×
OneHallyu

Just Hours After Ordering Pay Cut for Millions of Public Workers, Trump Proposes $100 Billion Gift to Richest 1%

sickwithsin

By sickwithsin
in Current News & Events

Recommended Posts

sickwithsin Global Superstar

sickwithsin

11,102
Posted
Posted

"Trump wants to send another kiss to the rich—unilaterally, without any approval from Congress. He ignores the law, governs for the top one percent, and doesn't give a hoot about the rest of us."

 

 

Hours after he launched yet another "direct attack" on workers by canceling a modest pay raise for around two million federal employees, President Donald Trump toldBloomberg on Thursday that he is considering a regressive and possibly illegal plan to use his executive power to hand the rich another $100 billion in tax cuts by indexing capital gains to inflation.

 

 

"There are a lot of people that love it and some people that don't," Trump said of the plan, which would disproportionately reward the top 0.01 percent of Americans. "But I'm thinking about it very strongly."

Trump's Oval Office interview with Bloomberg came shortly after the president announced in a letter to congressional leaders that he is freezing a planned 2.1 percent pay increase for federal workers just ahead of Labor Day, claiming that "federal agency budgets cannot sustain such increases."

But for Trump and the Republican Party, concerns for "fiscal sustainability" are quickly dropped when it comes time to deliver major gifts to the rich, Wall Street, and the Pentagon.

 

 

 

"Hours after cheating millions of middle class workers, Trump wants to send another kiss to the rich—unilaterally, without any approval from Congress," Rep. Bill Pascrell (D-N.J.) wrote on Twitter late Thursday. "He ignores the law, governs for the top one percent, and doesn't give a hoot about the rest of us."

In a Facebook post responding to Trump's decision to cancel federal employees' pay raise—which was set to take effect in 2019—Sen. Bernie Sanders (I-Vt.) wrote that Trump is once again "making it clear he has no interest in supporting working people."

"Trump himself has pocketed millions over the years grifting off of taxpayers, but now he wants to make it harder for workers to get ahead," Sanders added. "Trump and his Republican friends in Congress didn't have any problem finding $1.5 trillion in tax giveaways for the wealthiest people and hugely profitable corporations, but suddenly they don't have enough money to pay fair salaries to hardworking public servants."

Indexing capital gains to inflation—a move that the Trump White House has been considering for weeks—would primarily benefit the richest Americans, given that millionaires pay the vast majority of capital gains taxes. According to the New York Times, 86 percent of the benefits of this change in tax policy would go to the top one percent.

In a Twitter thread on Thursday, Seth Hanlon, a senior fellow at the Center for American Progress, detailed why indexing capital gains to inflation is "both terrible policy and illegal":

 

 

 

 

https://www.commondreams.org/news/2018/08/31/just-hours-after-ordering-pay-cut-millions-public-workers-trump-proposes-100-billion

 

That's four times the amount that was supposed to be used for the raises for federal workers. Our grifter-in-chief, everyone. How anyone can still think that he cares about the average American is mind-boggling. imstupid.png

 

Friendly reminders:

Link to comment
Share on other sites
coval Superstar

coval

9,036
Posted
Posted

He didn't order pay-cuts tho
He just cancelled a pay-raise

This is so sensationalized 0u0plz.png 

The benefits for the top 1% is still stupid tho

Link to comment
Share on other sites
lllll Global Superstar

lllll

4,309
Posted
Posted

He didn't order pay-cuts tho

He just cancelled a pay-raise

 

This is so sensationalized 0u0plz.png 

 

The benefits for the top 1% is still stupid tho

freezing salaries while you have 3% inflation is basically a pay cut in real terms (as in opposed to nominal)

Link to comment
Share on other sites
Sour Patch Superstar

Sour Patch

5,568
Posted
Posted

He didn't order pay-cuts tho

He just cancelled a pay-raise

 

This is so sensationalized 0u0plz.png 

 

The benefits for the top 1% is still stupid tho

When you factor in inflation cancelling a pay-raise is basically ordering a pay cut though.

 

The cost of living such as rent, gas and groceries have gone up. If your pay doesn't adjust accordingly to the increase in prices then yeah it is a pay cut. 

He didn't order pay-cuts tho

He just cancelled a pay-raise

 

This is so sensationalized 0u0plz.png 

 

The benefits for the top 1% is still stupid tho

When you factor in inflation cancelling a pay-raise is basically ordering a pay cut though.

 

The cost of living such as rent, gas and groceries have gone up. If your pay doesn't adjust accordingly to the increase in prices then yeah it is a pay cut. 

 

You can't live off the same salary as before because everything as increased. 

Link to comment
Share on other sites
PrazzyJazzy Superstar

PrazzyJazzy

4,132
Posted
Posted

I'm half mad at his supporters, and half mad at the people that could've, should've, but didn't vote and still sit by and watch this unfold. We're all complaining online but where is this energy when it comes to actual action ohdearplz.png I don't know shit about the economy but his trade war with China partnered with this bullshit he's pulling now is going to fuck up the economy, fuck up the working class that genuinely thought he would help them, and fuck up the future of America. 

Link to comment
Share on other sites
Brittany Global Superstar

Brittany

8,837
Posted
Posted

This will result to a deficit that is at least 9 figures. He's running the US into the ground. I think of his win as a fluke and his term is somewhat manageable -- too short to make any long lasting impact -- but if he is re-instated next term, Americans will find themselves in big trouble and Western alliances, from elastic, will come to be brittle. 

Link to comment
Share on other sites
Brittany Global Superstar

Brittany

8,837
Posted
Posted

I'm half mad at his supporters, and half mad at the people that could've, should've, but didn't vote and still sit by and watch this unfold. We're all complaining online but where is this energy when it comes to actual action ohdearplz.png I don't know shit about the economy but his trade war with China partnered with this bullshit he's pulling now is going to fuck up the economy, fuck up the working class that genuinely thought he would help them, and fuck up the future of America. 

 

That's another thing, voting really is a virtue. Anyone who doesn't exercise their right to vote should be shamed. Voting should be compulsory, with a hefty fine charged with the individuals who fail to comply as penalty. Other than the fact that we don't have to deal with lazy complaining, ''free will'' voting promotes bias and dishonesty amongst politicians.

 

Look at it this way: Why should politicians care about the opinions of the youth if they know that the youth doesn't have a habit of voting? They are going to care about the demographic that can put them into power, and in this case, that would be the older generations. They vote in much higher numbers than milennials, even when they were the same age as milennials. 

Link to comment
Share on other sites
PrazzyJazzy Superstar

PrazzyJazzy

4,132
Posted
Posted

That's another thing, voting really is a virtue. Anyone who doesn't exercise their right to vote should be shamed. Voting should be compulsory, with a hefty fine charged with the individuals who fail to comply as penalty. Other than the fact that we don't have to deal with lazy complaining, ''free will'' voting promotes bias and dishonesty amongst politicians.

 

Look at it this way: Why should politicians care about the opinions of the youth if they know that the youth doesn't have a habit of voting? They are going to care about the demographic that can put them into power, and in this case, that would be the older generations. They vote in much higher numbers than milennials, even when they were the same age as milennials. 

 

My friend told me she wouldn't vote because she didn't care for any of our parties (I'm British) and I was like??? Well there are people who do and it's literally a part of our every day lives. Your vote can determine how much that university degree is going to cost, how much you're going to earn when you start working, if you're going to be scraping by to pay for rent or if you're going to afford a house. All it takes from these people is a signature on a bill to change our lives so we should be putting all our effort into educating ourselves on what they mean and what these parties stand for. At they end of the day they represent the majority, but if a portion don't bother to vote how can that be an accurate representation??? 0u0plz.png

Link to comment
Share on other sites
sakurahanabira Legend

sakurahanabira

6,633
Posted
Posted

That's another thing, voting really is a virtue. Anyone who doesn't exercise their right to vote should be shamed. Voting should be compulsory, with a hefty fine charged with the individuals who fail to comply as penalty. Other than the fact that we don't have to deal with lazy complaining, ''free will'' voting promotes bias and dishonesty amongst politicians.

 

Look at it this way: Why should politicians care about the opinions of the youth if they know that the youth doesn't have a habit of voting? They are going to care about the demographic that can put them into power, and in this case, that would be the older generations. They vote in much higher numbers than milennials, even when they were the same age as milennials.

I live in California. I don't see why I need to vote when my state already votes blue and Hilary was already going to win my state, anyway. Even if I voted, my vote doesn't really count due to the electoral college. If I didn't vote, my vote also doesn't really matter due to the electoral college. How many people vote does not affect the electoral college. If I lived in a swing state or heavily Republican state, yeah, but not California. Plus look at how Hilary won the popular votes but lost the election because the electoral college favored Trump.

 

And even if more people voted, there's no guarantee that they would vote for the 2 major parties. In the 2016 election there were those who voted for 3rd party candidates and you can't make it "compulsory" to vote for only the main political parties.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.

 Accept Cookies  Reject Cookies
Back to Top