From Reuters here:
“For hedge funds, this is an unmitigated benefit as their tax liabilities could drop significantly,” said Robert Willens, an independent tax consultant. “Obviously, they are quite enthusiastic and there may be a few fist bumps along the way.”
A manager whose hedge fund earns $50 million a year, for example, would be paying some $19.8 million in taxes, or 39.6 percent, under the current rules. That could drop to as little as $7.5 million if the rate were cut to 15 percent.
That is going to make America great again for sure!
Feed the hedge funders and we will all do just great because they’re such benevolent and giving people.
Oh, I think I tasted a little bit of vomit after that sentiment.
From Zero Hedge here:
..in what may be his first paid speaking arrangement, Obama will be paid $400,000 to speak at Cantor Fitzgerald’s healthcare conference this September, setting the benchmark for how much an hour of the former president’s time will cost going forward.
Continuing the fantastic Democratic neoliberal/Clinton invented having your cake and eat it too.
Yes you can be a defender of the little people while you get $400k for speaking to Wall Street trading houses!
They’re not buying access or favors — they do it for the fun!
From the Daily Beast here:
Ivanka Trump, daughter and adviser to President Trump, is building a fund for female entrepreneurs, Axios reported Wednesday. “The statistics and results prove that when you invest in women and girls, it benefits both developed and developing economies,” Trump told reporter Mike Allen in Berlin. “Women are an enormous untapped resource, critical to the growth of all countries.” Trump says the fund will provide capital to both small and medium-sizes enterprises run by women around the globe and that the financing will come from various countries and corporations.
Oh yeah, that part in bold, that’s the shit right there.
Now after all the carping that President PumpkinHead did during the election about crooked Hillary and the Clinton Foundation, Ivanka the Terrible is going to rock the same business model?
Lock her up!! Lock her up!!
From CBS News here:
The president is now doubling down on an AHCA revival, which is needed to cut Medicaid by nearly $1 trillion, those budget savings deemed necessary to fund comprehensive tax reform.
It’s not tax reform, these are tax cuts for people who already have really low taxes.
Headline from the New York Times:
White House seeking victory, aims to revive health bill.
This should be good for a few laughs.
If it works for the Freedom Cocks it won’t work for the moderates. If it works for the House, it probably won’t work for the Senate.
Let’s hope this blows up in Trump’s face again!
Headline from CNBC:
Ex-Fed Chairman Greenspan: Get rid of Dodd-Frank and watch economy and stocks soar
The idea that letting Wall Street be unshackled and they will shit a golden future for America is ridiculous.
Wall Street is only interested in shitting a golden future for themselves. This is the part that is so frustrating to see. It’s implied that if Wall Street does well then America does well and the reality is so different.