#76 - To Trump Supporters Everywhere: "Donald Trump thinks you are all buffoons"

To Trump Supporters everywhere, who believed he cared about you:  

     

Donald Trump thinks you are all buffoons

I don’t believe him my friends, but that's what he thinks.  It's the only plausible explanation.

Mr. Trump has stated that the prospective Republican tax legislation making its way through the  reconciliation process with the House and the Senate will “cost him a fortune”.  And that the plan is a "one of the greatest Christmas gifts for the middle class".  He infers that he is sacrificing his hard earned fortune for your personal benefit and for the good of our country.  How many of you folks believe him when he says that? 

Please raise your hands now.

OK, there are many of you. That’s not surprising.  If I supported a candidate for a long time, I would want to believe that he was telling the truth as well

But how many of you really understand the different components of the suggested tax changes in the proposed legislation?

Again, please, raise your hands. 

Sure, only a few.  That’s not surprising either.

Tax law can be extremely complex. And I claim no expertise, but my own business background has provided me with an awareness of the structural changes being put forth by Republicans which have received full-throated endorsements from Mr. Trump because:

(a) he needs a win, any kind of a win, on any topic or any issue, it doesn’t matter, simply because Mr. Trump can't be perceived as a loser, and 

(b) and this one is important, so take it in slowly and appreciate what it really means, he doesn’t care about helping you in the least, because when the day is done, it's just about him.  And he will do anything to continue enriching himself.  

It's true.  Don't take my word for it.  Let's look at some of the changes in the tax plans and some which were conveniently left out, which work to the specific benefit of the man you support

o  The top corporate rate would move down to 21 percent from 35 percent, and shareholders and others with investment income would see their tax bills cut by one-third or more. 

o  Owners of businesses that are taxed at the same rates as individuals would see their top tax rate drop from nearly 40% to closer to 30%. The Trump Organization consists of about 500 such "pass-through" entities, according the Presidents lawyers.  

o The legislation would also allow full expensing of capital investments for businesses— rather than requiring them to be depreciated over time (although this is phased out over time). 

o  The estate tax threshold would get doubled to $22 million for married couple, saving Donny Jr. and the Little Trumps approximately $4 million, when DJT Sr. kicks the bucket.

o  Parents would be eligible to use a type of tax-preferred savings plan — known as a 529 plan —, previously only available for college educations, to save for their children’s elementary and secondary education as well.  I am going to go out on a limb here, but I don't think DJT's kids and grand kids go to PS234.

o  During the campaign, DJT railed against certain wealthy investment managers (Private equity, hedge funds, real estate)  who, thanks to the so-called carried interest loophole, pay taxes on the majority of their pay at a lower capital gains rates. The only change requires the investments be held three years vs. one year, which is very common for these type of investments.  The change is a nothing burger.

        

o  Oh yes ,and the deduction for golf course owners, well that remains.  How many of you are helped by that tax provision?  Please raise your hands

Anyone?

Last question: Did you know that the individual tax actual cuts, your tax cuts, will expire in 2025, but the business tax cuts the ones that benefit DJT go on... forever?

Hmmm, silence.. no hands.  You seem surprised?  Shocked?  Would you like me to repeat the question?

So you see my friends, Mr. Trump believes you will take everything he says as gospel, and you won’t speak out against his one-sided, self-centered plan.

That’s because, he believes... that you will believe him, when he says it's all good for you.  

That’s because, he believes... you will let Republicans provide he and his family with one of the biggest tax windfalls in the history of taxation on Planet Earth.  

That's because, he believes... you are all buffoons.

I don’t believe him friends, I don’t believe him at all,  

But I can't prove it.  Only you can.