Focused Agenda
Reminder: GOP is transferring the tax dollars of The People to the wealthy in every way possible, but particularly through changes in the U.S. tax code.
Focused Read, excerpts in 2-3 minutes
"Hundreds of companies saw tax rate plunge to 11.3% under Trump tax reform
→ 379 large, profitable U.S. companies in 2018 paid an effective tax rate of 11.3%, the first year the Tax Cuts and Jobs Act was in force, a new study finds.
→ That's slightly more than half of the nominal corporate tax rate of 21%, which itself was reduced by the TCJA from a previous rate of 35%.
→ Last year's corporate tax cuts have boosted stock buybacks but has done little to raise wages for workers, another study finds.
Hundreds of large, profitable U.S. corporations are paying a tax rate that most Americans can only dream of: 11.3%....according to a new analysis of the impact of the Tax Cuts & Jobs Act, which President Donald Trump signed into law two years ago.
The study, from the progressive Institute on Taxation and Economic Policy, reviewed financial filings for Fortune 500 companies,
finding 379 corporations that reported profits in 2018 and that also provided enough data to calculate their "effective" tax rates, meaning after deductions are factored in.
... The 11.3% effective rate is the lowest the ITEP says it has measured since 1984, when it began studying the issue.
The findings also show the effective tax rate for the large businesses cited by ITEP is considerably lower than the 21% nominal corporate rate instituted by the TCJA, which had cut the corporate tax rate from 35%.
At the time of the TCJA's passage, the White House vowed that slashing corporate taxes would unleash economic growth and provide higher wages for workers.
But there's little evidence that has occurred, according to a separate analysis from the liberal-leaning Economic Policy Institute.
"What the plan has done is dramatically increase stock buybacks and exacerbate decades of rising income inequality," said EPI director of research Josh Bivens in a statement.
Among the Fortune 500 businesses,
91 corporations didn't pay federal income taxes on their 2018 income, according to ITEP.
Among those cited is retail giant Amazon, which declined to comment specifically on the report.
However, a spokesperson said in an emailed statement that the company "pays all the taxes we are required to pay in the U.S. and every other country where we operate."
The company added, "Over the last three years, we paid $2.6 billion in corporate taxes. We also collect and remit sales tax and pay state income taxes. Congress designed our tax laws to encourage companies to reinvest in the American economy – we have. We've invested more than $270 billion in the U.S. since 2011 and created 300,000 U.S. jobs."
To be sure, the analysis is based on public filings, rather than corporations' actual tax filings to the IRS, which are private. That means the actual federal tax payments may differ from the estimates. And state and local taxes paid by companies are not included in the ITEP study.
$500 billion on stock buybacks
Many big corporations are using part of their tax windfall to purchase their own stock, a financial strategy that helps boost their share price and can benefit investors.
In 2018, companies spent $580 billion to buy back their own shares,
a jump of 50% from a year earlier, EPI said.
It's likely stock buybacks will again reach at least $500 billion this year, it added.
... Even though the statutory tax rate for corporations is 21%,
corporations are lowering their effective rate below that thanks to legal loopholes and tax breaks, the ITEP study found.
Those methods include "accelerated depreciation," which allows companies to write down the cost of capital investments faster than they actually wear out,
and industry-specific tax breaks, such as write offs for maintaining railroad tracks
Effective tax rates vary hugely between industries, partly due to those tax breaks.
About half of total tax subsidies went to three industries: financial services, utilities, and oil, gas and pipelines, ITEP said."
(Tax subsidies on a most simple level are defined as: " ... a direct or indirect payment to individuals or firms, usually in the form of a cash payment from the government or a targeted tax cut. ... " Courtesy of Investopedia.)
"But the lowest effective federal tax rate last year went to industrial machinery companies, which paid a rate of -0.6%, the study found.
That was largely due to the rule about accelerated depreciation, which allowed them to claim large tax breaks on their capital investments.
The impact of the corporate tax cut was to enrich wealthy shareholders while diverting revenue away from the U.S. government and workers, ITEP and EPI argue. (Both groups favor a hike in corporate taxes.)
For instance, if the 379 businesses identified in the ITEP study had instead paid the 21% tax rate, the U.S. would have generated an additional $74 billion in tax revenue, the analysis estimates.
"Corporations' claims that the TCJA spurred worker bonuses and wage increases were baseless PR and are not supported by serious analysis," the EPI study noted.
"While wage growth accelerated only slightly in the two years before the TCJA, this growth has outright decelerated in the first ten months of 2019."
( Courtesy of CBS News )
The Speaker is representing America at home and abroad while POTUS and VP are MIA
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Congresswoman Val Demings has been a standout during the Impeaching hearings in the House.
Focused Action shared in 30 seconds
You can retweet the Congresswoman's tweet here
Speaker Pelosi is an #American Patriot, guiding her committee chairs through the Trump-induced trauma of impeachment and the House passed two Articles of Impeachment on December 18 2019.
* Below, please find a Tik Tok of "Everything you need to know about impeachment in 1 min, courtesy of "Now This Politics" and 5 + 1 of my favorite Tweets by and about Madam Speaker during this historic time:
http://bit.ly/2Zgtfmg
Focused Point of Interest, in 5 minutes
which can all be retweeted...
ONE
While Trump was character assassinating another dead man, Madam Speaker was being sensitive the Congresswoman Dingell's recent loss of her husband.
* Democrat, John David Dingell Jr. was an American politician who served as a member of the United States House of Representatives from 1955 until 2015.
You can retweet the Congresswoman's tweet here
TWO
Madam Speaker gavels the vote to impeach Trump on the two Articles of Impeachment brought to the Floor.
You can retweet the Speaker's tweet here
THREE
And it's done. Madam Speaker has gavel the final vote to impeach Trump on the two articles brought to the floor and she has silenced, with a look, a few Democratic Party members who wanted to celebrate that a bit.
You can retweet Christine's tweet here
I can say it any better -- Madam Speaker "and our Democrat leaders deserve respect..."
FOUR
Part I
Part II
You can retweet Norberta's tweet here
FIVE
Madam Speaker, conducts her day after the Impeachment press conference.
You can retweet the Speaker's press conference image here
And, just one more ...
Madam Speaker has taken a lot of heat for her management of the impeachment process in the House, it was nice to see Dean Obiedallah stand up and say ... she was right.
You can retweet Dean Obeidallah's tweet here
Focused Monthly Inspiration
( #itsNovember2020Now )
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Just my random thought this week!
My Democratic Party biased thought for the week
MORE, if you want them!: See blogger's choice of sources/resources
↓↓↓↓↓↓
→ Some of my favorite Direct sources & resources for Democrats:
* ( My personal favored and most informative follows are also shared here, below, with the understanding that readers will always apply their own critical thinking to any information provided anywhere by anyone. #StrongerTogether does not share sources of information lightly but -- no one is perfect! -- so always #DistrustAndVerify -- even if it's me. I am using a "star" rating that is strictly based on my situational experience with the work of the media personality specifically in relation to issues of interest to me. )
Democratic Party Speaker of the House Nancy Pelosi, representative of The People at home & abroad while the President of the United States is MIA...
There is no better way to get your information than to #Go2TheSource
You can find the Speaker's website here
You can find the Speaker's Twitter feed here
You can find the Speaker's Facebook Page here
The Democratic Party Website
Also, NOT exactly a Democratic Party specific source under a GOP majority but a good place to hear and to watch speeches & hearings directly, i.e. #Go2TheSource C-SPAN
+
→ Some of my favorite, most active organizations:
Michelle Obama's initiative ...
"Who We Are
When We All Vote is a non-profit, nonpartisan organization that is on a mission to increase participation in every election and close the race and age voting gap by changing the culture around voting, harnessing grassroots energy, and through strategic partnerships to reach every American.
Launched in 2018 by co-chairs Michelle Obama, Tom Hanks, Lin-Manuel Miranda, Janelle Monae, Chris Paul, Faith Hill and Tim McGraw, When We All Vote is changing the culture around voting using a data-driven and multifaceted approach to increase participation in elections.
In the months directly before the 2018 midterm elections, When We All Vote organized 2,500 local voter registration events across the country, engaged 200 million Americans online about the significance of voting, and texted nearly four million voters the resources to register and get out to vote.
And we’re just getting started. We’re helping bring even more people into the voting process because when we all vote, we all do better. ... "
"Mission: National Security Action is dedicated to advancing American global leadership and opposing the reckless policies of the Trump administration that endanger our national security and undermine U.S. strength in the world. ... "
You can learn more here
(Full disclosure, I am a member!)
"Women are already the majority. Now Let's build a Supermajority.
Women are on the cusp of becoming the most powerful force in America. But to fundamentally transform this country, we need to work together. That’s where Supermajority comes in.
LET’S GET ORGANIZED
We’re building an inclusive, national membership of women who are connected, empowered, and taking action—from increasing their level of civic engagement and advocacy to voting in record numbers.
"Meet the people behind the politicians.
You can email your two Senators and your Representative in Congress in one email here
"Postcards to Voters are friendly, handwritten reminders from volunteers to targeted voters giving Democrats a winning edge in close, key races coast to coast.
What started on March 11, 2017 with sharing 5 addresses apiece to 5 volunteers on Facebook...
Now, we consist of over 20,000+ volunteers in every state (including Alaska and Hawaii) who have written close to 3 million postcards to voters in over 100+ key, close elections."
You can find Postcards to Voters here
Town Hall Project empowers constituents across the country to have face-to-face conversations with their elected representatives. We are campaign veterans and first time volunteers. We come from a diversity of backgrounds and live across the country. We share progressive values and believe strongly in civic engagement. We research every district and state for public events with members of Congress. Then we share our findings to promote participation in the democratic process.
This movement is diverse, open source, and powered by citizens. We are proud to be a part of it.
You can find Town Hall Project here
"Born from conversations between Governor Howard Dean and Secretary Hillary Clinton in the aftermath of the 2016 election, Onward Together was established to lend support to leaders — particularly young leaders — kicking off projects and founding new organizations to fight for our shared progressive values." here
Organizing for America and the Democratic National Redistricting Committee have merged in "All On The Line":
"Barack Obama Throws All His Weight Behind ‘Issue Of Singular Importance’
" Since #StandOnEveryCorner has grown, it’s become a stand by all of us to protect our democracy from corruption and treason...A stand not at your State Capitol, but in your own backyard. Not once every few months, but as often as you can here "
→ Fact checking organizations courtesy of the Society of Professional Journalists
in alphabetical order...
→ Some of my favorite, most informative
follows on Twitter include:
⭐⭐⭐⭐⭐ US Intelligence | Author | Navy Senior Chief | NBC/MSNBC
⭐⭐⭐ Federal Government Operations | Vanity Fair | Newsweek | MSNBC Contributor | Author
⭐⭐⭐⭐ NBC News' chief foreign correspondent
⭐⭐ Foreign correspondent for @MSNBC and @NBCNews based in London
→ Some of my favorite, highly credible media -- at the moment:
→ Some of my favorite Talking Heads -- at the moment -- and their Twitter handles:
→ Some of my favorite media panelists -- at the moment -- and their Twitter handles:
✅✅✅✅✅ Wendy Sherman Director, Harvard Center for Public Leadership and Professor of Practice, Kennedy School Senior Counselor
Albright Stonebridge Group; Undersecretary of State for Political Affairs
✅✅✅ Jonathan Lemire White House reporter for AP; Political analyst for MSNBC & @NBCNews
✅✅✅✅ Joan Walsh national affairs correspondent for The Nation; CNN political contributor
✅✅✅✅ Heidi Przybyla USA TODAY Senior Political Reporter
✅✅✅✅ Jennifer Rubin Conservative blogger at @ WashingtonPost's Right Turn,MSNBC contributor
Intel community. @ NBCNews/@ MSNBC contributor
✅✅✅✅ Betsy WoodruffSwan Daily Beast reporter, federal law enforcement.
→ Some of my favorite legal analysts in the context of Putin attacked America to install Trump investigations, primarily seen on MSNBC:
🗒️ 🗒️ 🗒️ 🗒️ Katie Phang
🗒️ 🗒️ 🗒️ 🗒️ Glenn Kirschner
→ Some of my favorite Democrat Party Leaders to follow on Twitter, not in elected office but proving knowledge & experience are positives & not negatives are:
Former First Lady Michelle Obama
Former Secretary of State Hillary Clinton
Former Labor Secretary/Today's DNC Chair Tom Perez
Note: I rarely get involved in primary races -- outside of those in my own area and unless there is a glaring reason that can not be ignored, I support Democratic Party nominees in general elections. I don't support bashing Democrats.
→ PARTY Informational
(Full disclosure, I am a life-long, registered Democrat!)
"To Whom It May Concern: By authority of the Democratic National Committee, the National Convention of the Democratic Party is hereby scheduled to convene on July 13-16, 2020 in TBD at an hour to be announced, to select nominees for the offices of President and Vice President of the United States of America, to adopt and promulgate a platform and to take such other actions with respect to such other matters as the Convention may deem advisable. ... "
"PREAMBLE We, the Democrats of the United States of America, united in common purpose, hereby rededicate ourselves to the principles which have historically sustained our Party. Recognizing that the vitality of the Nation's political institutions has been the foundation of its enduring strength, we acknowledge that a political party which wishes to lead must listen to those it would lead, a party which asks for the people's trust must prove that it trusts the people and a party which hopes to call forth the best the Nation can achieve must embody the best of the Nation's heritage and traditions. What we seek for our Nation, we hope for all people: individual freedom in the framework of a just society, political freedom in the framework of meaningful participation by all citizens. Bound by the United States Constitution, aware that a party must be responsive to be worthy of responsibility, we pledge ourselves to open, honest endeavor and to the conduct of public affairs in a manner worthy of a society of free people. Under God, and for these ends and upon these principles, we do establish and adopt this Charter of the Democratic Party of the United States of America."
"What is the CPD? The Commission on Presidential Debates (the “CPD”) is a private, nonpartisan 501(c)(3) organization. As a 501(c)(3) organization, it is eligible under federal law so serve as a debate sponsor. The CPD's primary mission is to ensure, for the benefit of the American electorate, that general election debates are held every four years between and among the leading candidates for the offices of President and Vice President of the United State. The CPD is an independent organization. It is not controlled by any political party or outside organization and it does not endorse, support, or oppose political candidates for parties. It receives no funding from the government or any political party, political actions committee or candidate. The CPD has sponsored general election presidential debates in every election since 1988. Although its plans for 2020 are in the developmental stage, it looks forward to bringing high quality, educational debates to the electorate in 2020 ... "
You can read more here
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(Linked) "...is our 2016 platform...a declaration of how we plan to move America forward. Democrats believe that cooperation is better than conflict, unity is better than division, empowerment is better than resentment, and bridges are better than walls.
It’s a simple but powerful idea: We are stronger together."
Owned, Created and Curated by Gail Mountain, this blog curates is often gently edits and/or excerpts select material for quick reading, with occasional personal commentary in the form of the written word and/or in the form of emphasis noted. Network For #StrongerTogether ! is not affiliated with The Democratic Party. in any capacity. This is an independent blog and the hope is you will, at a glance, learn more about the Party and you will, with a click or two, also take action on its behalf as it is provided!
( * As a privately owned blog, I reserve the right to edit or remove inappropriate comments such as hate, vulgarity, threats of violence, racism, anti-Semitism, spam, advertising or personal/abusive attacks on other users.)
A long time Democratic Party activist, Gail Mountain is a former community organizer, journalist & personal planning coach with a focus on single moms working toward careers able to support them & their families, while working toward changing the systems that once served them through leadership training. She is a former Affordable Health Care for America Act advocate (2009!); a Hillary supporter who volunteered as a Grassroots Tweeter for Hillary, a Women's Outreach for Hillary member; an OFA Truth Team member; & a DNC Factivist member...currently a media influencer, digital activist/strategist, blogger and head of curation, editor and co-Founder of The People for Kamala Harris; an editor for Progress for Democrats on Facebook; a member of a closed group supporting Speaker Pelosi & her agenda, a member of Supermajority and a volunteer for Kamala Harris for the 2020 Democratic Party Nomination for President of the United States.
You can follow her Blog
at https://networkstrongertogether.blogspot.com & you can follow her on Twitter at GKMTNtwits
( find her on Twitter
*** Sometimes life gets in the way, and it has for me right now, delaying the release of my updated ebook but "How to Influence Media in Real Time!"is coming soon and in time to begin your conversation with media as we head into serious primary season.
What's in the book?:
( My updated ebook, "How to Influence Media in Real Time," will be ready soon. It will include updated examples of the conversations I have with some of my “media friends” and some updated indications that media can hear us! If you have left a donation toward my effort to help Democrats win in 2020, I will send you an updated copy as soon as it is ready. New donors who leaves a name and an email on my GoFundMe Page will get one as soon as it is ready to go! Thanking you in advance for your interest. I hope you will join me in helping media be the best they can be -- by being a media influencer, too, in your own way and at your own pace. )
*
See the League of Women Voters website:
*
...for Networking for Democrats today!
g. (Unapologetic Democrat)
✊ Resisting "Fake News"
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