ORLY-EP0167A - Money: The Trump Tax Plan

ORLY-EP0167A - Money: The Trump Tax Plan

Welcome to ORLYRADIO #167b recorded Friday, October 6th, 2017 - where we dismantle the current events for your edutainment through mostly rational conversations that make you go ‘Oh Really’! I’m your host Andy Cowen with my usual suspects, Daniel Atherton, Stephen Griffith, and Amber Biesecker.

We make mistakes. Please, if you find one, pause the podcast, and send us a note. orlyradiopodcast@gmail.com or phone it in 470-222-6759

Thank you to our Patreon Supporters!

Donald Davis
Melissa G.
Henry
Daniel Duncan (Problem Addict Podcast)

Following the Money - Market Watch:

stock_market2.jpg

http://money.cnn.com/data/markets/

https://finance.yahoo.com/quote/%5EDJI/history/

Aug: - Week 4 - 8/25/17:
Dow closed at 21,813.67 UP 139.16 DOWN 16.64 from July
Nasdaq closed at 6,265.64 UP 49.11 DOWN 109.04 from July
S&P closed at 2,443.05 UP 17.5 DOWN 29.05 from July

Sept: Week 5 - 9/29/17: https://www.zacks.com/stock/news/277326/stock-market-news-for-sep-29-2017
Dow closed at 22,381 UP $567.33 From August
Nasdaq closed at 6,453.45 UP $187.81 From August
S&P closed at 2,510.06 UP $67.01 From August

October Friday Closing changes week to week:
OCT:: Week 1 - 10/06/17: https://www.zacks.com/stock/news/278014/stock-market-news-for-oct-6-2017
Dow closed at 22,775.39 UP $394.39
Nasdaq closed at 6,585.36 UP $131.91
S&P closed at 2,552.07 UP $42.01

From Zacks: “The S&P 500 breached a 20 year record on Thursday after hitting record close for six days on the trot. Also, the Dow and the Nasdaq notched up all-time highs. Meanwhile, the House of Representatives passed a $4.1 trillion budget bill for 2018. This package also includes $1.1 trillion for non-entitlement spending which further includes the U.S. defense budget for 2018.”

Following the Money - OIL

oil-rig-derrick-clipart-10.jpg

http://www.nasdaq.com/markets/crude-oil.aspx

WTI (NYMEX) Price

July:
Week 4: $49.71 USD  UP $3.94 From last week, UP $5.48 from the top of the month.
August:
Week 4: $47.87 USD DOWN $0.27 From last week, DOWN $1.81 from July.
September:
Week 5: $51.67 USD UP $1.01, UP $3.80 from August.
October:
Week 1: $49.29 USD DOWN $2.38 Back to July Prices.

 

Following the Money - Exchange Rates

money clipart.jpg

International Monetary Fund (IMF) XDR/SDR Basket Currencies

Five most-traded currencies in the foreign exchange market referenced against the US Dollar.

July
Week 4: $1 USD  =  €0.85 Eur = ¥6.74 CNY = ¥110.63 JPY = 0.76 GBP = 0.00036 Bitcoin
August:
Week 4: $1 USD  =  €0.84 Eur = ¥6.65 CNY = ¥109.37 JPY = 0.77 GBP = 0.00023 Bitcoin
September:
Week 5: $1 USD  =  €0.85 Eur = ¥6.64 CNY = ¥112.46 JPY = 0.75 GBP = 0.00024 Bitcoin
October:
Week 1: $1 USD  =  €0.85 Eur = ¥6.57 CNY = ¥112.63 JPY = 0.77 GBP = 0.00023 Bitcoin

US National Debt Ticker

Watch that puppy grow! http://www.usdebtclock.org/

July 28: $19,967,603,583,206
August 25: $19,974,087,991,615 UP $68,048,025
September 29: $20,178,001,744,606 UP $5,251,427,833
October 6th: $20,345,281,729,369 UP $167,279,984,763

The proposed Brackets. A higher bracket is possible through Congressional action.

The proposed Brackets. A higher bracket is possible through Congressional action.

  1. The Trump Tax Plan https://assets.donaldjtrump.com/trump-tax-reform.pdf

  2. The Standard Deduction (as in non-itemized) will double. $12k for singles, $24k married.

    1. Alternative Minimum (AMT)is removed

    2. Increased Child Tax Credit (Under age of 17)

    3. Adult Dependent tax credit of $500

    4. Removal of the Estate Tax (or as they would like the american farmer to believe, the Death tax)

    5. Deductions for State Income Tax are going away (Double taxation on income??)

    6. Corporate Tax Rate is being cut from 35% to 20%

      1. S-Corp an small business taxes are capped at 25%

    7. How they propose to be “Fiscally responsible” and “The Trump tax cuts are fully paid for by”:

      1. Reducing or eliminating deductions and loopholes available to the very rich, starting by steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions. The Trump plan also phases out the tax exemption on life insurance interest for high-income earners, ends the current tax treatment of carried interest for speculative partnerships that do not grow businesses or create jobs and are not risking their own capital, and reduces or eliminates other loopholes for the very rich and special interests. These reductions and eliminations will not harm the economy or hurt the middle class. Because the Trump plan introduces a new business income rate within the personal income tax code, they will not harm small businesses either.

      2. A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate. Since we are making America’s corporate tax rate globally competitive, it is only fair that corporations help make that move fiscally responsible. U.S.-owned corporations have as much as $2.5 trillion in cash sitting overseas. Some companies have been leaving cash overseas as a tax maneuver. Under this plan, they can bring their cash home and put it to work in America while benefitting from the newly-lowered corporate tax rate that is globally competitive and no longer requires parking cash overseas. Other companies have cash overseas for specific business units or activities. They can leave that cash overseas, but they will still have to pay the one-time repatriation fee.

      3. An end to the deferral of taxes on corporate income earned abroad. Corporations will no longer be allowed to defer taxes on income earned abroad, but the foreign tax credit will remain in place because no company should face double taxation.

      4. Reducing or eliminating some corporate loopholes that cater to special interests, as well as deductions made unnecessary or redundant by the new lower tax rate on corporations and business income. We will also phase in a reasonable cap on the deductibility of business interest expenses.

2. House Budget Bill https://www.washingtonpost.com/powerpost/house-passes-2018-budget-taking-a-crucial-step-toward-tax-overhaul/2017/10/05/5ea7294e-a9d1-11e7-850e-2bdd1236be5d_story.html?utm_term=.1841f3e45fe5

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This work is licensed under a Creative Commons Attribution 3.0 United States License, including the music Rocket and Pamgaea created by Kevin MacLeod (www.incompetech.com)

EpicProgress.com - Damage Report February 9th, 2017

Happy Nazis, Trickledown 2.0 (The Moistening), wall costs, unbelievable White House product sponsorship opportunities, and which minority is next on the hit list? All this and more in today’s Daily Trump Damage Report for Thursday, February 9th, 2017.

• Trump feels strongly that the state should be able to take all of your property without having a criminal conviction. At a meeting with Sheriffs, the orange menace espoused a penchant for making civil forfeiture easier, while simultaneously indicating that he doesn’t understand what it is.

• White Nationalists are extremely invigorated and excited by the successful nomination of Jeff “Klampet Keebler” Sessions. White power online news sites and prominent KKK Grand Wizard and former Republican candidate David Duke hailed Sessions becoming the nation’s new Attorney General as a great step forward, in hopes that the Justice Department will begin targeting “thugs and illegals” – not-so-dog-whistle dog whistles.

• Trump hypes a “phenomenal” tax package coming in a few weeks, offering no details. We do not need the details to know that it will offer a gargantuan tax cut to the richest 100 families in America, a sizable tax cut to the upper 3%, a rounding error of a tax cut to anyone making less than $200k a year, and lastly is formulated to bankrupt and default the United States government within 4 years.

• Trump’s border wall is now expected to cost $21.6 billion in non-alternative fact dollars, and take 3.5 years to build. For the same cost, America could purchase a measles vaccine for every child on the planet, buy two USS Ford aircraft carriers, purchase the planet’s music industry, buy Iceland with enough money left to plop 7 Burj Kalifa skyscrapers on it. Net migration from Mexico was 0 for the past several years.

• Inspiration for Disturbed’s rendition of the Sound of Silence and current White House adviser Steve Bannon would like you to very much know he is super-duper friends with Reince Priebus and would never, ever stab him in the back to save himself from the ire of Trump.

• Trump’s Supreme Court nominee Gorsuch’s anti-Trump comments may help him succeed in making it to the bench, which call into question whether or not this was the whole point of the comments.

• John McCain schools Trump’s perpetually humiliated press deceiver, Sean Spicer.

• The chief information security officer at the White House has been removed, and we are not sure if he was fired or resigned. No comment has been issued as to whether or not a replacement has taken over. Trump and staff continue to use unsecured email servers and unsecured smartphones proving that he is significantly dumber and more careless than he ever accused Hillary Clinton of being.

• CNN’s host Chris Cuomo says that being called “fake news” is the journalist equivalent of the “n” word. It isn’t. He apologizes later. Trump and surrogates will use the mistake to raise the blood pressure of the authoritarians who empowered them.

• Why is the White House Press Corps not asking about Trump being owned by Russia, or the corruption surrounding their intelligence agencies activities on Trump’s behalf?

• In Trump’s’ call with Vladimir Putin, he did not know what the START nuclear deployment treaty was. Told, he said he did not like it. He then said he was like, popular, and stuff.

• A federal appeals court bodyslammed Trump’s Muslim ban, and reminded the White House counsel that they do not have power to interpret law or executive orders.

• Fourth broken seal of the actual apocalypse and singular incarnation of the abstract concept of falsehood, Kellyanne Conway breaks a pile of ethics rules by telling people to “go buy Ivanka’s stuff!”, using the office of the President to hawk the shoddy Chinese-made merchandise of the spoiled orange oligarch’s daughter.

• Chuck Cooper withdraws from consideration for Trump’s next solicitor general, leaving the door open for the nomination of Kellyanne Conway’s husband, George Conway. The solicitor general is responsible for arguing the US government’s case before the Supreme Court. Conway has only ever argued once before the Supreme Court. George, a monster befitting the spouse of Kellyanne, represented murder-product producer tobacco giant Philip Morris.

• First they came for the Muslims.  Next, they came for the Mexicans, and Trump is now preparing a vicious deportation executive order.

• Trump signs three new sweeping executive orders on law enforcement. In it, he directs Sessions to figure out how to maximize punishments for non-violent drug offenders and use actions he seems necessary to guard against cartels which “are destroying the blood of our youth and other people.”

• An insider continues to reveal the secretive goings on inside the Trump White House, demonstrating that Trump likes his administration the way he likes his women – funded by Russian intelligence and prone to leaking.

ORLY-EP0126B - Basic Transactional Dating Income

ORLY-EP0126B - Basic Transactional Dating Income

Welcome back to ORLYRADIO #126b recorded Friday September 16th, 2016 - where we dismantle the current events for your edutainment through mostly rational conversations that make you go ‘Oh Really’! I’m your host Andy Cowen, with my usual suspect(s), Daniel Atherton.

Science Bitches!  

  1. Despite a complete absence of light and a poisonous atmosphere, the Romanian Movile Cave is crawling with life, that hasn’t seen sunlight for at least 5.5 million years.

    1. http://www.bbc.com/earth/story/20150904-the-bizarre-beasts-living-in-romanias-poison-cave

    2. http://www.iflscience.com/plants-and-animals/prehistoric-cave-still-holds-some-worlds-weirdest-creatures/

    3. http://science.sciencemag.org/content/272/5270/1953

  2. Male Birth Control Pill is comming soonish (2018-2020) http://www.telegraph.co.uk/women/womens-health/11646385/Contraception-Male-Pill-is-coming-and-its-going-to-change-everything.html

  3. White House, NASA to Discuss Asteroid Redirect Mission’s Importance for Journey to Mars, Planetary Defense http://www.nasa.gov/press-release/white-house-nasa-to-discuss-asteroid-redirect-mission-s-importance-for-journey-to-mars

Law & Order:

  1. Trial Begins For Armed Occupiers In Oregon Refuge Standoff https://www.buzzfeed.com/salvadorhernandez/trial-begins-for-armed-occupiers-in-oregon-refuge-standoff

  2. Jim Bridenstine Conservative Republican running for US Congress - Oklahoma District 1.

    1. One Subject at a Time Act https://www.congress.gov/bill/114th-congress/house-bill/4335

    2. Read the Bill Act https://www.congress.gov/bill/114th-congress/house-bill/4328

-BREAK- Voicemail

Good Ideas:

  1. House Passes Bill Outlawing “Gag Clauses” That Try To Punish Customers For Writing Negative Reviews https://consumerist.com/2016/09/12/house-passes-bill-outlawing-gag-clauses-that-try-to-punish-customers-for-writing-negative-reviews/

  2. http://www.politicususa.com/2016/09/13/stroke-pen-president-obama-permanently-protects-planned-parenthood.html
    Title X Family Planning Program - “Since 2011, 13 states have taken actions to restrict participation by certain types of providers as subrecipients in the Title X program based on factors unrelated to the provider's’ ability to provide the services required under Title X effectively. In at least several instances, this has led to disruption of services or reduction of services where a public entity, such as a state health department, holds a Title X grant and makes 21 subawards to subrecipients for the provision of services. In response to these actions, this proposed rule requires that any Title X recipient sub-awarding funds for the provision of Title X services not prohibit a potential subrecipient from participating for reasons unrelated to its ability to provide services effectively.” Planned Parenthood receives roughly $70 million annually in Title X grants for contraceptives and cancer and sexually transmitted infection screenings, none of that can be used for abortion services by law.
    TL:DR Title X Guarantees access and funding and this proposed rule lays the smack down on anything that tries to get in the way.
    New Department of Health and Human Services Rule
    https://s3.amazonaws.com/public-inspection.federalregister.gov/2016-21359.pdf

  3. NCAA Pulls 7 Championship Events from North Carolina http://www.usatoday.com/story/sports/college/2016/09/12/ncaa-to-relocate-championship-events-north-carolina-house-bill-2/90284584/  

  4. France to Ban Disposable Diningware https://munchies.vice.com/en/articles/france-just-banned-plastic-cups-and-cutlery

  5. Basic Income a UK Possibility http://www.theguardian.com/politics/2016/sep/14/jeremy-corbyn-to-launch-review-into-universal-basic-income

Bad Ideas:

  1. Basic Income: A Sellout of the American Dream? https://www.technologyreview.com/s/601499/basic-income-a-sellout-of-the-american-dream/

  2. Bleak look at USA’s low income teens https://www.theguardian.com/us-news/2016/sep/12/teens-america-hunger-food-poverty

  3. Trump’s Tax Plan http://www.slate.com/blogs/moneybox/2016/09/15/donald_trump_explains_his_economic_plan.html

Personal Picks:

Daniel’s:  Warhammer 40k RPG’s https://www.fantasyflightgames.com/en/products/#/universe/warhammer-40000