But in the matter of industry-specific or firm-specific tax benefits of the sort extended to Carrier in Indiana, they do not have a leg to stand on. These are straight-up corporate welfare, ethically and fiscally indistinguishable from shipping containers full of $100 bills.
Via Trump Carrier Bailout – Economically Unsound | National Review.
For Carrier’s accountant, any pecuniary benefit will do. So far as the bottom line is concerned, a $7 million tax credit is the same as a $7 million check or $7 million in Apple stock or $7 million in gold. It’s all +$7 million on the line where you want it.
Posted in Economics
Tagged tax code
In an interview with The New York Times last Tuesday, his only comments on the issue since the election, Mr. Trump said he discussed the matter with James N. Mattis, a retired Marine Corps general who is under consideration for defense secretary. Like most American military leaders, he is opposed to the use of torture.
“I said, ‘What do you think of waterboarding?’ ” Mr. Trump said. “I was surprised. He said, ‘I’ve never found it to be useful.’ He said, ‘I’ve always found, give me a pack of cigarettes and a couple of beers and I do better with that than I do with torture.’ And I was very impressed by that answer.
via Donald Trump Faces Obstacles to Resuming Waterboarding – The New York Times.
But under its glittering surface, Dallas has a problem that could bring it to its knees, and that could be an early test of America’s postelection commitment to safe streets and tax relief: The city’s pension fund for its police officers and firefighters is near collapse and seeking an immense bailout.
via Dallas Stares Down a Texas-Size Threat of Bankruptcy – The New York Times.
Now, the Dallas Police and Fire Pension System has asked the city for a one-time infusion of $1.1 billion, an amount roughly equal to Dallas’s entire general fund budget but not even close to what the pension fund needs to be fully funded.
“Nothing that happens outside the city matters!” they say at their cocktail parties, blissfully unaware of where their food is grown. Hey, remember when Hurricane Katrina hit New Orleans? Kind of weird that a big hurricane hundreds of miles across managed to snipe one specific city and avoid everything else. To watch the news (or the multiple movies and TV shows about it), you’d barely hear about how the storm utterly steamrolled rural Mississippi, killing 238 people and doing an astounding $125 billion in damage.
via How Half Of America Lost Its F**king Mind.
To those ignored, suffering people, Donald Trump is a brick chucked through the window of the elites. “Are you assholes listening now?“
California, Massachusetts and Nevada legalized marijuana on Tuesday in what advocates said was a reflection of the country’s changing attitude toward the drug.
via Californians Legalize Marijuana in Vote That Could Echo Nationally – The New York Times.
Supporters in California portrayed legalization as both a social justice and a criminal justice issue, saying the measure would help redress the disproportionate numbers of arrests and convictions among minorities for drug crimes.