Miscellaneous And Off Topic Subjects

[Kapture1]

What the Republicans should do is run nothing but ads for the midterms showing the DNC debt and their cash on hand vs RNC's debt and cash on hand, with the message of which one would you want handling your money?

[Da Geezer]

Clarification on that? That sounds very aggressive with that 5%, but not moving to a territorial system seems very unlikely. That means surrendering tax income like Google and Apple are via the European Commission anti-competition committee. Going territorial seems one of the bipartisan things we should all agree on.

Yes. I didn't understand that well either. My take is that there is a one time 12% repatriation tax on cash like we have discussed here often. It seems that the transfer of non-liquid assets also gets a break at 5%. Non-liquid assets are generally those which cannot quickly (10 days) be sold without a substantial discount. My thoughts are along the lines of a Ford production plant in Mexico. I think the net of any sale of the plant is also encouraged to come back to the US at a 5% rate

I don't understand the 10% tax on high-profit subsidiaries. Everything I've read today says we are going to a territorial system, so that is good.

[Kapture1]

[ame]https://twitter.com/CNBCnow/status/926124703923744770[/ame]

[Kapture1]

After the Obama administration approved the sale of a Canadian mining company with significant U.S. uranium reserves to a firm owned by Russia’s government, the Nuclear Regulatory Commission assured Congress and the public the new owners couldn’t export any raw nuclear fuel from America’s shores.

“No uranium produced at either facility may be exported,” the NRC declared in a November 2010 press release that announced that ARMZ, a subsidiary of the Russian state-owned Rosatom, had been approved to take ownership of the Uranium One mining firm and its American assets.

A year later, the nuclear regulator repeated the assurance in a letter to Sen. John Barrasso, a Wyoming Republican in whose state Uranium One operated mines.

“Neither Uranium One Inc. nor AMRZ holds a specific NRC export license. In order to export uranium from the United States, Uranium One Inc. or ARMZ would need to apply for and obtain a specific NRC license authorizing the exports of uranium for use in reactor fuel,” then-NRC Chairman Gregory Jaczko wrote to Barrasso.
The NRC never issued an export license to the Russian firm, a fact so engrained in the narrative of the Uranium One controversy that it showed up in The Washington Post’s official fact-checker site this week. “We have noted repeatedly that extracted uranium could not be exported by Russia without a license, which Rosatom does not have,” the Post reported on Monday, linking to the 2011 Barrasso letter.

Yet 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.

http://thehill.com/policy/national-security/358339-uranium-one-deal-led-to-some-exports-to-europe-memos-show

[THE_WIZARD_]

...oh that crazy Obama cat...

[THE_WIZARD_]

...none of youse can piss me off today...just found out...

[Ghengis Jon]

First take by WSJ about an hour ago. I tried to avoid paywall or commentary

Most of the proposed reforms seem reasonable, but the devil is in the details.

Major corp tax is reduced to 20%? Is that a firm floor or is the General Electric method of paying zero tax still a possibility? If not a floor, an AMT should be imposed.

S-corp/partnerships reduce tax to 25%. I think the economy would be better served if the small biz was capped at 20% and big biz at 25%, not the other way around.

Individual tax starts at 12%. Currently it starts at 10% which means this bill is a tax hike for the poor.

Remove tax credit for adoptions? Why dis-incentivize putting at risk children into 2 parent homes?

[Kapture1]

[SeattleLionsFan]

Got to pay for billionaires tax cuts somehow.

[Kapture1]

[ame]https://twitter.com/kathleehinojosa/status/925715547563708417[/ame]

[Da Geezer]

(1)S-corp/partnerships reduce tax to 25%. I think the economy would be better served if the small biz was capped at 20% and big biz at 25%, not the other way around.

(2)Individual tax starts at 12%. Currently it starts at 10% which means this bill is a tax hike for the poor.

(3)Remove tax credit for adoptions? Why dis-incentivize putting at risk children into 2 parent homes?

I agree on 1 and 3. On 2, the higher standard deduction, 24k makes up for the added rate. For example, on an income of $ 28,000 the FIT under this plan is 12% on 4k ($ 480) and the current plan is 10% on 16k ($1,600), so the earner gets about another $ 1,100 to keep. Besides, there are new credits that are cash straight into the pocket of a poor family.

The WSJ says that the lowest rate of 12% ends at $ 90,000 for a couple. That means that a couple pays $ 7,920.00 on its first 90k (half for singles). And that applies to every couple in the country, rich or poor.

I didn't see anything in the WSJ summary about the deduction for state and local income taxes, but, on the news, all the Acela representatives are squealing like stuck pigs, so I assume that deduction is gone.

Homebuilders, Realtors and all the other usual suspects have come out against the plan.

[THE_WIZARD_]

[Kapture1]

[crashcourse]

the untitle zep album was the best
like 2 also

hail to the stros--thought they would get there ass beat last night wish the game would have been better though

weird watching the dems crumble--wasserman shitz and Hillary clitless going down in smoke

[hack]

The best thing I've heard about it all day is that if Donna Brazile is gloves off like that it indicates the Clintons are done in party politics. Brazile goes way back with the Clintons, and here's her blowing Bernie, and Politico and her choosing which pat of her book to excerpt.

Fingers crossed that this interpretation is true. If there's one thing we can agree on here it's that we'd like to never see her again. I think.