Tag Archives: corporate tax cut

Why You Won’t See A Tax Cut

15 Monday Jan 2018

Posted by in About Reno, Aging, Business, Ethics, Generational, Government, History, Honor, Human Resources, Politics, Taxes, US History

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Republicans are happy about the tax cut for the wealthy, oh, and the small temporary tax cut for the middle class

The Republican slant on the Tax Cut and Jobs Act passed last month is that it is primarily a temporary tax cut for the middle class. The problem is that the temporary tax cut is minor and few families will actually notice any change. The temporary tax cut will be given in small increments on the paycheck, not a lump sum at the end of the year.

By The Numbers

So how much can a person expect to see their paycheck increase? Here are examples of the average temporary tax cuts those earning between $25,000 and $75,000 per year, paid every two weeks (NOTE: Total Tax Cut/paycheck is for each wage earner in a married family):  

(Source:  NYTimes Tax Cut Calculator)

Situation    Dependents   Ave. Tax Cut    Tax Cut/paycheck

Married                    2                     $1,420                     $27.31 ($54.62 total)

Married                    1                       $  970                      $18.65  ($37.31 total)

Single                        2                      $1,290                     $49.62

Single                        1                      $1,000                     $38.46

If you live in the   states (California, Connecticut, Massachusetts, New Jersey, New York and Washington, D.C.,) the tax cut is less:

Situation    Dependents   Ave. Tax Cut    Tax Cut/paycheck

Married                  2                       $  470                     $  9.04 ($18.08 total)

Married                  1                       $  370                     $  7.12 ($14.23 total)

Two to three trips to Starbucks every week* will wipe out the tax cut for most of the middle class.

Inflation Will Swallow At Least Half

Inflation is forecast to be at 2.3 percent for 2018. That means that for every $100 spent on groceries, gas, clothing, etc., the consumer will pay $2.30 more in 2018. If a person spends $30,000, the cost of living will increase by $690. That will wipe out almost half of the temporary tax cut for most of the middle class.

In the end, the only citizens that will notice a tax cut are major corporations and the wealthy. The middle-class citizen will mostly notice what they can no longer use as exemptions.

(*Assuming one $5.00 drink per visit x 6 times per paycheck)

What will the wealthy get back?

A family making over $750,000 could pay a middie class worker’s annual salary with their tax cut.

Situation    Dependents   Ave. Tax Cut    Tax Cut/paycheck

Married                   2                   $39,360                   $ 756.92  ($1,513.85 total)

Married                   1                   $34,050                   $ 654.81  ($1,309.62 total)

Nevada’s Pot Business About to be Smoked

03 Wednesday Jan 2018

Posted by in About Reno, Aging, Branding, Business, Education, Employee Retention, Ethics, Generational, Government, Government Regulation, Green, Health, Higher Education, History, Honor, Management Practices, Politics, Pride, Public Image, Public Relations, Recreation, Respect, solar, Space, Taxes, Technology, Travel, Universities, US History

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Welcome to Nevada, where citizens watch other people get rich

Nevada has relied on being the rebel for decades, and it always fails to provide a reliable economy.

When gambling was taboo in the nation, Nevada became one of the few places people could gamble. People flocked to Nevada to gamble. Nevada had a ‘gaming’ industry.

In 1988, the Indian Gaming Regulatory Act opened the door to legalize gambling on Indian Reservations, and over the next three decades California built up an Indian Gaming industry that didn’t require taking chances with a trip to Nevada. Nevada’s gaming industry stagnated.

When a quick marriage and/or a quick divorce was taboo in the nation, Nevada made divorce easy. People flocked to Nevada to officially end or begin a relationship. Nevada had a marriage industry.

Then divorce became a fact of life and most of the rest of the country decided that government should be trying to inhibit the desires of a couple, so they made marriage and divorce easier. Couples no longer had to travel to Nevada to say their vows, or go their separate ways and Nevada’s marriage and divorce industry collapsed. 

Gambling, divorce, prostitution have all been part of Nevada’s economic plan, and they all have created more problems than money for its citizens. It’s a consistent trait of Nevada’s leadership in pursuing big money that comes with little or no foundation in what is best for the average citizen.

For the last six months, Nevada boosted its economy with legalized recreational marijuana sales. Again, people from California flocked to the state to get what they couldn’t get at home. Pot. And again, Nevada’s economic boost will be short-lived as California recreational pot business gets underway in 2018.

Nevada is a state where a few people become filthy rich and pay very little in taxes. Nevada compounds the problem by prostituting themselves for marginal industries that are not stable and corporations that seek to avoid paying their share of taxes while reaping big profits.

The result has been that Nevada has no money to improve schools that are ranked near the bottom in the United States. Nevada’s poor education record has resulted in businesses needing a highly educated workforce to go elsewhere despite the seductive tax environment.

Nevada has to stop lusting after short-term economies and start building a real economy…or watch the hopes and dreams of its citizens go up in smoke.

GOP War on the Spirit of Christmas

24 Sunday Dec 2017

Posted by in Aging, Business, Education, Ethics, Generational, Government, Government Regulation, Green, Health, Higher Education, History, Honor, Management Practices, Politics, racism, Religion, Respect, Taxes, Universities, US History, Women

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GOP celebrates destroying Christmas 2017

The Republican party has gone to war with Christmas. It’s not just that they disrespected people’s desire to enjoy Christmas by ramming through a disgraceful and unpopular bill during the holiday season. That would have been bad enough, but what they did is craft changes to our tax code that violate almost every Christian belief at a time when a majority Christian nation sought to celebrate one of their most significant holidays.

I believe they did this just before Christmas for three reasons.

Distraction
First, the Republicans in Congress hoped to use the holidays as cover for their anti-Christian deed. They hoped that people would be so wrapped up in the excitement of Christmas that they would be distracted from a sacrifice of citizens and government to  appease the GOP corporate gods.

Before We Knew What Hit Us
Second, the Republicans hoped that by acting quickly, people couldn’t find out all the details of the legislation before an effective campaign could be mounted against it.

A 2018 ‘Nice Guys’ Makeover
Finally, Republicans needed to allow time to do a personality makeover before the 2018 elections. By passing this bill in 2017, they can begin to pass minor, but popular legislation to make them not look like stooges of corporations and the wealthy.

Now we are left with a dark cloud hanging over the holidays. The wealthy will be allowed to steal more money from the government. Corporations will be able to use all the resources the government provides (roads, infrastructure, law enforcement, etc.) and pay little or no taxes for that service. Money and exemptions that were meant for the poor and middle class have been stripped away in order to give the wealthy lower taxes and more money.

Republicans won the war on Christmas. With laughter they destroyed the foundation of our country. The new year will dawn with Trump and Putin still laughing at us. They won. The United States of America lost.