Tax reform verdict: Big business likes the plan released today, the broad market just shrugged

The DOW gave a thumbs up . . .

. . . but the broadest measure of the market just shrugged.

Big business gets a tax rate cut to 20%, but pass-throughs only to 25%

Republicans are favoring established big businesses at the expense of smaller and independent businesses. In essence they are protecting the already successful from those who only dream of being as successful. Combine the loss of other deductions being eliminated under the tax reform proposal and pass-through filers will find that their big tax cut is not so big after all. 

"One rate for thee, but another for me".

From the story here:

The bill would lower the top rate for income from "pass-through" businesses from 39.6 percent to 25 percent. These businesses, which include some small businesses, otherwise have their income taxed through the individual code on their owners' returns. But NFIB [National Federation of Independent Business] says that most small businesses wouldn't qualify for the lower rate because of the way the new rate is structured.

Additionally, the bill as a default position would not allow income from personal services businesses, such as law and accounting firms, to be eligible for the 25-percent rate.

Republican war on itemized deductions eliminates medical expense deduction

From the story here:

Under current law, the IRS allows individuals to deduct qualified medical expenses that exceed 10 percent of a person’s adjusted gross income for the year. The bill would repeal that itemized deduction, effective in 2018.

This is part of The Swamp's incremental war against taxpayer deductions.

For decades the threshold was 7.5% of AGI. Then under Obamacare it became 10%. Now it's gone entirely.

These greedy bastards must be stopped.

CNBC's Jake Novak lets it slip that his libertarian hatred of single family homes has been aesthetic all along

Seen here, italics added by me:

Second we have perhaps the most controversial proposal: The plan to cap mortgage interest deductions for new home purchases at $500,000, but keep the rules as is for existing mortgages. This starts the long-needed process of eliminating a tax policy that mostly aided the rich and has aided America's ruinous and unsustainable suburban single-family home sprawl. 

Funny how so many Americans like to live in that suburban sprawl instead of in cities.

Funny also how they overwhelmingly vote Republican.

Funny Rush hasn't mentioned it lately, but his infamous "94 million eating but not working" are still there one year later

Looks like as much as 5,000 tons of US yellowcake were shipped by Uranium One to Canada and then on to Europe and Asia

From the story here:

NRC memos reviewed by The Hill show ... that it did approve the shipment of yellowcake uranium — the raw material used to make nuclear fuel and weapons — from the Russian-owned mines in the United States to Canada in 2012 through a third party. Later, the Obama administration approved some of that uranium going all the way to Europe, government documents show. ...

Rather than give Rosatom a direct export license — which would have raised red flags inside a Congress already suspicious of the deal — the NRC in 2012 authorized an amendment to an existing export license for a Paducah, Ky.,-based trucking firm called RSB Logistics Services Inc. to simply add Uranium One to the list of clients whose uranium it could move to Canada.

The license, reviewed by The Hill, is dated March 16, 2012, and it increased the amount of uranium ore concentrate that RSB Logistics could ship to the Cameco Corp. plant in Ontario from 7,500,000 kilograms to 12,000,000 kilograms and added Uranium One to the “other parties to Export.”

The move escaped notice in Congress. ...

The entire Uranium One episode is getting a fresh look after The Hill disclosed late last month that the FBI had gathered extensive evidence in 2009 — before the mine sale was approved — that Rosatom’s main executive in the United States was engaged in a racketeering scheme that included bribery, kickbacks, extortion and money laundering.

Climate update for Grand Rapids, Michigan, October 2017

Grand Rapids, Michigan, climate update for October 2017

Max Temp: Actual 82, Mean 79

Min Temp: Actual 28, Mean 28

Av Temp:   Actual 55.2, Mean 51.3, YTD Actual 54.06, YTD Mean 51.08

Precip:       Actual 9.69, Mean 2.98, YTD Actual 34.67, YTD Mean 29.26

CDD:         Actual 11, Mean 8, YTD Actual 719, YTD Mean 693

Average temperature is running 5.8% ahead of mean to date.

The warmest years on record here were considerably warmer at this stage.

In the warmest full year on record by average temperature, 2012, average temperature year to date was 55.84, 1.78 ahead of 2017 year to date and 9.3% ahead of mean to date.

In the second warmest full year on record, 1931, average temperature year to date was 54.35, 0.29 ahead of 2017 year to date and 6.4% ahead of mean to date.

In the third warmest full year on record, 1921, average temperature year to date was 56.00, 1.94 ahead of 2017 year to date and 9.6% ahead of mean to date. 

If you're among the 59% who think this is the lowest point in American history, you're a dumbass

In 2009 in Obama's America, nearly 30 million people filed first time claims for unemployment. That high point is the lowest point in recent memory. And if you can't remember that, you're either a moron, on drugs, or NINE.

Story here.

Yeah, Hillary and Harvey, they know who Trump is

Michael Savage interminably asks why no one will have him on their shows despite his many bestsellers

The answer is simple. He's a traitor to his tribe, which runs most of the shows, if not all of them.

The only reason itemized deductions are on the table is a minority of 30% of tax filers itemize

And when it comes to minorities, they're only as effective at protecting their interests as their lobbyists. We'll see how strong those lobbyists remain, but Republicans in the House and the Senate are clearly divided, and seem to have joined the side of the enemy. The latter aim to pitch deductibility of state and local income taxes, while the former aim to pitch deductibility of mortgage interest.

It's weird beyond odd that Republicans are having a war over tax deductions when they should be having a war over spending. Republicans used to be the "no new taxes" party, but have become the "no tax deductions" party instead, which means they're more interested in raising revenues than in cutting your taxes (which implies cutting spending).

Just 44.7 million itemized in 2015, out of 149.7 million returns.

Watch your wallets.

Discussed here.

Putin did not want Trump and $50 a barrel oil, Putin wanted Hillary and $120 a barrel oil

Seen here in the comments.

If you're having trouble summarizing the Russia mess so far, Pat Buchanan lays it out for you

Here:

Thus we have Free Beacon neocons, never-Trump Republicans, the Hillary Clinton campaign, the DNC, a British spy and comrades in Russian intelligence, and perhaps the FBI, all working with secret money and seedy individuals to destroy a candidate they could not defeat in a free election.

Laugh of the Day: "I'm not afraid to call myself a moderate"

Only in election season.

Senatrix Claire McCaskill, Missouri's arch feminist, here.

Strike Three and You're Out: Both National Associations, of Homebuilders and of Realtors, pull support from House tax plan

Trump looks set to be defeated on tax reform as 2017 winds down, just as he has failed to overturn Obamacare and build The Wall. And considering what the tax reform is looking like, it's just as well.

The tax plan as it stands this weekend eliminates the itemized deductions for mortgage interest and state income taxes, keeping only the deduction for property taxes.

Reported here:

[I]n a sign of the complex balancing act that [House Ways and Means Chairman Kevin] Brady must perform to produce a tax-overhaul bill this week, the property-tax announcement came on the same day that the National Association of Home Builders pulled its support for the legislation. The group’s chief cited concerns that the bill might undermine existing tax breaks that support the housing market. Likewise, a coalition that includes the National Association of Realtors said in an emailed statement that it “will vigorously oppose this plan.” ... It would appear that deductions for state and local income taxes and sales taxes would still be repealed under the planned House bill.

This is all the fault of our so-called conservatives in the US House. They aren't conservatives. They're doctrinaire libertarians who HATE people who want to get married, settle down and buy a house and have children. They view people as CAPITAL, whose value only decreases if it is too difficult to move them around at the whim of GLOBAL BUSINESS. That's why you'll never hear these people target the tax revenue lost to the lower capital gains and dividend tax rates, which are almost TWICE those lost to the mortgage interest deduction. These people are the enemies of localism and are instead the champions of the homogenization of society with its bland sameness everywhere. They are the ones who've shipped our jobs overseas and let in the tens of millions of immigrants who've further reduced our wages and opportunities.

One year from now you'll have another chance to send them packing.

I'll be voting for Mickey Mouse and Donald Duck before voting for a libertarian in 2018.

A cuck at Taki's Magazine falsifies some "moral equivalency" between Antifa and White Nationalism

From an "apocalyptic psychologist", here:

Lacking any higher values, and surrounded on all sides by the base and the untrue, white nationalists and diversity’s agents, Antifa and Black Lives Matter, understandably turn to violence—for at least it is real, a brutal assertion of something true in the midst of so much deception. Inspired by envy and pride, these groups all deserve one another, and the American public, relishing the opportunity to hate while appearing righteous, will delight in the evil spectacle.

The violence is all Antifa's, but hey, it takes a cuck to recognize cuckery in white nationalism, right? The truth is there is no white nationalist violence to speak of, let alone any white nationalism. One gets the impression for a moment that this cuckologist secretly isn't too happy about this. It's almost as if he's goading his readers with the unpleasant truth that, just like him, they're all just pussies.

Well, he is a Calvinist atheist.

White nationalism is pretty much a phenomenon limited to the internet's world of anonymous commenters, such as at Taki's. In the main the commenters there do a good job of giving voice to white identity, but most of the discussion ends up in arguments refighting every war ever fought and no one seems to be able to agree about much of anything important, including religion. Ardent Protestants and Catholics spar with each other, as do the theists with the atheists. The editors typically feature articles which tread right up to the line, creating the playground, but go no farther. Meanwhile the actual Party of Violence is threatening the real thing, the latest action being a nationwide event set to begin on Nov. 4.

We'll see how that goes. So far if it rains Antifa's legions have shown that they will find something better to do, so if the weather interferes, Nov. 4 may turn out to be just another bust no less than every demonstration of white nationalism has turned out to be a bust. In any case Antifa only makes its biggest splashes when the whites plan to show up to contest the field, so barring that I'm expecting nothing very remarkable on the first Saturday in November.

Besides, the nation's property owners, most of whom are white, have property to protect and keep busy doing just that. There are about 75 million owner-occupied single family homes in this country, occupied by 60% of the population. They look askance at anyone threatening that property, or the businesses in which they work or which they own, whether it's Black Lives Matter doing the rioting, burning and looting and killing the cops whose duty it is to protect that property, or any other group of hooligans promising this kind of trouble.

Until the lives and fortunes of these ordinary white Americans are at real risk, there will be no sympathy for movements claiming to fight on their behalf, despite what the alarmists at the Southern Poverty Law Center may tell you.

And from a theoretical point of view, ordinary whites have no sympathy either for those who only wish matters were so dire, or half-believe they really are. 

Just to refresh your memory about Paul Singer . . .

Paul Singer's pro-gay stooges were at the Republican National Convention in 2016 trying to get the platform language changed in that direction, but were rebuffed.

That's what Paul Singer is all about, the pro-gay agenda. He's donated millions of dollars to it. 

Byron York reports Washington Free Beacon confesses to funding opposition research with Fusion GPS

Here, about an hour ago:

Lawyers for the conservative publication Washington Free Beacon informed the House Intelligence Committee Friday that the organization was the original funder for the anti-Trump opposition research project with Fusion GPS. The Free Beacon funded the project from the fall of 2015 through the spring of 2016, whereupon it withdrew funding and the project was picked up by the Democratic National Committee and the Hillary Clinton campaign. ...

The Free Beacon was founded in 2012. Its founders included Michael Goldfarb, who has moved back and forth between conservative journalism, politics, and activism. The Free Beacon was originally part of a 501(c)(4) tax-exempt organization called the Center for American Freedom, but in 2014 became a for-profit organization. It has never revealed its ownership. Conservative billionaire Paul Singer, a major funder of the Free Beacon, strongly opposed Trump at the time of the opposition research project.

Laugh of the Day: "Fans are still angry about Kaepernick’s continued unemployment"

Sure they are, says the dumb ass right here.

Good on ya: NFL TV viewership down nearly 19% from 2015

Reported here.