Donald Trump’s tax reforms, cartooned | The Economist

The Republican tax bill might be hard to swallow. In his latest drawing, our cartoonist KAL gives his take on the upcoming reforms.

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A controversial tax reform package is up for a vote in the US Congress. It will have important long-term effects for the US and world economy.

Kal’s job is to wrestle the nerdy subject into drawn lines and laughs, and here’s what Kal need to consider.

Tax cuts and small government are orthodoxy for the Republican Party but even supporters are concerned about this massive and largely unpopular bill. Republicans have been hurrying to pass the legislation while the party has a lock on Congress and the presidency.

They’ve bypassed hearings, avoided scrutiny and ignored economists who warned of trouble. And at over 500 pages, the bill is packed with a smorgasbord of goodies and baddies, many of which are just being discovered on the eve of the vote.

The chief chef of this fast-food fest is none other than Donald Trump. He is desperate to get a legislative victory before his first year in office is out.

Although Mr Trump and his businesses are poised to profit from the bill it’s unlikely that the attention-deprived president has read the entire legislation. It now seems possible that America and the world will have to face the consequences.

A result that may be hard to swallow.

Daily Watch: mind-stretching short films throughout the working week.

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Rep. Jim Renacci (R-Ohio) on how President Trump’s second round of tax cuts will help the middle class and American businesses.
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Click Here to Leave a Comment Below 40 comments
TheVoice OfTruth

*Reported for spam and misleading

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jayce Lee

You suck dood

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Sarabeth

This didn't age well.

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joseph flores

You stated no facts stfu

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Seneca Brown

Ode to the Republican tax cuts for working people. — Lyrics by Don Caron. https://goo.gl/kLbAQZ

"As President, Trump has pushed us up to $21 trillion in national debt and he is now on track to reach new record debt levels way, way, way above that. … The [Republican] Trump tax cuts have significantly accelerated what is now Donald Trump’s rush to a fiscal crisis much worse than anything he encountered in his Atlantic City Casino bankruptcies."
— Lawrence O’Donnell, "Debt Soars Under President Donald Trump Tax Cuts," June 26, 2018, https://goo.gl/nEAHMN

“I support higher taxes on people like me. I think America has more of a revenue problem than a spending problem.”
— Douglas Durst, Multi-millionaire American real estate investor and developer, Washington Post, September 17, 2018

"Another epic economic collapse is coming.
— George F. Will, Conservative Republican commentator and former Fox News contributor, August 17, 2018, https://goo.gl/BXcVdX

Budget Deficit Soars To 6-Year High Under President Donald Trump’s Republican Tax Cuts, Oct 16, 2018, https://www.youtube.com/watch?v=EIuzmxeNbyI

China Sells $3 Billion of US Debt as Trade War Surges, RT America, Oct 15, 2018, https://www.youtube.com/watch?v=8Al59K7pYtw

"Do do you know who the last Republican president is to have left office with a balanced budget? Dwight Eisenhower."
— Cenk Uygur, The Young Turks, Uncle Sam Borrowing Trillions To Pay For GOP Tax Plan, February 5, 2018, https://youtu.be/0zYaHS0CWxQ?t=27s

“It doesn’t matter if unemployment’s at 3.9 percent if their wages are low, they don’t have health care and they can’t afford to send their kids to school."
— Richard Trumka, August 1, 2018, Commentary at Christian Science Monitor Breakfast, https://tinyurl.com/ybkv35ev

"In 1970, it turns out that less than 10% of Americans were earning less than their parents at a similar age. By 2010 50% were earning less. The perception that each generation would be better off than their parents has arguably been at the heart of western civilization for the past 150 years or more. It is no longer believable or believed."
— Stephen Holmes, "How Democracies Perish," in Case R. Sunstein, Can It Happen Here?, HarperCollins, New York, 2018, https://goo.gl/L4yJLk

"As Bernie Sanders correctly notes, 40 percent of Americans don’t have $400 on hand for an emergency – a brake job, for example, costs $567 on average for both axles – and 43 percent of Americans (50 million households) can’t afford to meet their basic monthly expenses. That figure lags behind those of other developed nations, even among working-age Americans. If our figure matched Great Britain’s, for example, more than 11 million additional Americans would be working or job-hunting today. Citizens in other advanced economies aren’t likely to envy our healthcare “system,” either. It’s a partially-privatized madhouse that leaves tens of millions uninsured, many millions more under-insured, and most of us subject to thousands of dollars of medical expenditure – often without warning."
— Richard Eskow, Public policy analyst, Senior Fellow at the Campaign for America's Future, July 30, 2018, https://www.youtube.com/watch?v=VbiDiRbNwDU

"Another epic economic collapse is coming"
— George F. Will, Conservative Republican commentator and former Fox News contributor, August 17, 2018, https://goo.gl/BXcVdX

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Northlord 1

How we doing a year later?

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Abrahm Crosbie

Your video is horseshit

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Mickey Johnston

Well that showed me there is absolutely zero bias within THE ECONOMIST. They provided ample evidence for concerns, while making sure not to avoid the benefits of this tax legislation. If only all media could be as neutral as… oh wait.

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Siamak Sanati

Yet anther trump derangement. Economist used to be a objective publication and I used to read religiously. Too bad they started to drink their own lemonade!!

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jared pansier

4.1 GDP increases after tax cut your points are now invalid

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Neanybean

I thought this was supposed to explain the details? What a waste of 2.20 mins of my life.

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duhawma

Subjective at best!

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Eric Youmans

The equal right of all men to the use of land is as clear as their equal right to breathe the air — it is a right proclaimed by the fact of their existence. For we cannot suppose that some men have a right to be in this world, and others no right.

The tax upon land values is, therefore, the most just and equal of all taxes. It falls only upon those who receive from society a peculiar and valuable benefit, and upon them in proportion to the benefit they receive. It is the taking by the community, for the use of the community, of that value which is the creation of the community.

It is the application of the common property to common uses. When all rent is taken by taxation for the needs of the community, then will the equality ordained by Nature be attained. No citizen will have an advantage over any other citizen save as is given by his industry, skill, and intelligence; and each will obtain what he fairly earns. Then, but not till then, will labor get its full reward, and capital its natural return.
.
There are people into whose heads it never enters to conceive of any better state of society than that which now exists.

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Chuk Prav

What the heck is this? No Facts? Just opinions? Who cares bro?

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drumdude12

I can’t stand you left wing BASTARDS. I WANT FACTS BUT I CANT EVER GET ANY BECAUSE ALL YOU DO IS JUST BASH TRUMP AND REPUBLICANS. SINCE ALL YOU DO IS BASH THR RIGHT NO ONE REALLY KNOWS WHAT THE HELL IS GOING ON!!!!

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Zen Dr

You obnoxious morons, is this topic so much fun to you? What kind of stupidity is this?

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Misha Mochalkin

Good job not explaining anything thank you

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Evan Seklecki

This was nothing but cliches and platitudes and NO DETAILS. Do not watch this video if you want to take part in rational thought. Its so hard to find a fact based unbiased video nowadays

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Guitar Phantom

I'm a teacher with a modest salary. Trump's TAX CUT gives me an extra $140 a month … and why should liberal commie democrats have that money anyway?

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Deus Vult

F A K E N E W S

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B. Terence Harwick

OF COURSE Mr. Trump is not running on the economy in his rallies. Only a few more than none who attend have seen their pay checks go up. And very little went to "investment."
Instead 2/3 of a trillion dollars in corporate "tax cuts" when to bid up the price of stocks — giving dividends to stockholders and bonuses to the corporate executives. Good economy – right?
Tough s*** you people who really work for a living. ANY GAINS you get will be TAKEN BY "us" — people who collect money from you everyday. Shhh. It's a secret. MAGA IS scare tactics +
high "financial charges" passed on to ANY WORKER who owes money and who pays the equivalent of "rent." Screw you Americans — your job is to cheer for "us" & make "US" rich. Ha, ha, ha.

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Losaiko Go Blue

No on 112, fracking causes cancer. I have friends who caught it after fracking 500 feet from their home, it is in the ground water and plantx. The property is worthless.

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James Fallon

We didn’t have the money for tax 1.0 so deficit spending politicians want to go for 2.0? We are trashing our currency and devaluing it

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Nova superb

Tax cut is bribery now?

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Daniel Green

You are not going to expand shit once those tariffs against the USA companies hits because no one will buy your crap… Plain and simple. Guess what even if the tariffs are lifted, and they will be, people will stay with a reliable supplier not one that is going to hike tariffs on goods. So you will lose that market. Its just a matter of time before he puts the US into bankruptcy and all the REPUBTARDS are screaming for his orange head

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bulldogs7177

These liberal idiots don’t want Americans making more money. They want us to believe this BS doom and gloom.

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Douglas Steele

trump trying to pull another scam. yeah if you're the CEO of a big corporation or you just happen to work for a really big corporation you'll see benefits but if you are a small business owner or happen to work in a small business then good luck. chances are you'll see very little if any benefits from trumps next round of tax cuts. like always trumps for the big dogs because they contribute greatly to the republican trust fund. it's a matter of you scratch my back i'll scratch yours. this is what we get when a business minded asshole is elected as president instead of a politician. impeach trump and MAPA-Make America Better Again!!!

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Larue77

The rationale for tax cut one was that it would greatly increase spending on plant and equipment, increasing production. That hasn’t happened, such spending has not increased. Companies have huge piles of cash, but they are just buying back stock or increasing dividends. Or hoarding the cash. So what false theory will be used for tax cut 2?

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GiarkReleos

CASH GRAB 2.0      if the first cash haul was over 1.5 trillion dollars of tax payers money stolen(so far)… how much are they going to steal this time around ?

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K H

Federal deficit is booming and bomb

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Rodney Williams

wait I thought first tax cuts helped middle class? I think I may be getting conned

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Terry Ingram

+Paul Breaks – Ya, and did you see Trump and Putin exchange decoder rings as well? Alas, if your mother had only swallowed instead…

You’re like the end pieces of a loaf of bread – everyone touches you – but nobody wants you, because you’re about as useful as a screen door in a submarine.

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Terry Ingram

+JamesMarshall – We can only "explain" Trump to you. We can’t "understand" him for you.

Sorry, Marshall, we have neither the time nor the crayons to explain things you need to know. And, don't bother submitting a retort to this post – I refuse to enter a battle of wits with an unarmed opponent…

Moreover, I would like to offer you a small piece of advice, for your small wooden head. Somewhere out there, there’s a tree whose single purpose on earth is to replace the oxygen you waste. Kindly go find it and – apologize.

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peter sander

The world, the whole world suffers of that competition of the wealthiest!
You do not pay taxes for your covernment to make this race happen.
Try to judge an economic system by the behaviour to the weakest.
Working poor versus human beings not able to spend the money "earned"…

We, You and I pay for something else: Management.
That management means in germany:
Low wages for them who cares: Nurses, bricklayers, soldiers Police, etc.
High wages for shareholder, CEOs, etc.
And they call it a democrazy…
Nurses and soldiers, etc. want to be paid that amount?
They want managers to earn Millions because they manage it all so well?
What fine people …
Worth every penny

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Redscope

What is it going to take for the poor to get a tax break rather than business. They all talk about flow down. How about give the poor working class more money so they can spend it and try to get money to flow up the pipleine.

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K C

Why not!…Let's simply buy American votes! Republicans are so corrupt! Tempting temporary carrots for ignorant most and a golden egg laid for the rich! Fucking con man!

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Steve Nelson

Soon all Republicans will be forced to take out loans against your assets, so you will remove your soon to be $31 trillion Republican national debt off the backs of us hard working taxpaying real Americans. That's poor, middle class, or limo riding Republican elites ! We now pay more to cover each year just your interest ($800 Billion) than we spend on the Military !!!

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berserker

There is no reason to rush taxplan 2.0 as far as i can tell. The effect from 1.0 is still far from complete. If you do it all at once it could overheat the economy and also Trump wouldnt have much to run on in 2020 🙂

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Paul Breaks

When he sits down with Putin, he turns away from the media and winks at Putin with his left eye, thinking you can't tell. Watch for yourselves.

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Mary Milburn

interesting timing to announce this proposal. bribery and deflection to turn our attention from Trumps ass kissing of Putin and selling out of American intelligence

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