"Trump’s polls are better than ever." For context, Trump's polls are better than Trump's polls have ever been; that doesn't mean they're good, although that's how Punchdrunk would have you interpret it. The reality is that they're not very good and likely to get worse, not that I expect any change in Felon47's behavior as a result.
We need to keep in mind that the "value" of Tesla and the extrapolated value of Musk's holdings is based on the most recent stock price which is something like 177 times the most recent actual profits. That the profits are likely receding due to slumping (plummeting) sales somehow never comes up in stories about "the world's richest man". Like his puppet president, Musk can't afford to have anyone notice that there is a curtain behind which he's hiding. I've felt for a long time that a forensic audit of both presidents would reveal substantially less net wealth than they publicly give themselves credit for having.
I'm with you on waste, and if I thought that's what was being sought, I might consider being supportive, but I don't think so, therefore I'm not. If there were as many as 4 classic Republicans in the Senate and a half dozen in the House we'd see at minimum the lapsing of the 2017 tax rate reduction and a surtax directed specifically to the reduction of the debt. The economics of it aren't hard, but the politics have been made nearly impossible.
BTW, great piece Bill, and an outstanding graphic. I sense a Howard Beale comeback on the way.
Keep up the hard hitting, factual and excellent writing Bill. Nicely done today.
But, at least in my town, the few Trump religious followers I remain acquainted with are cheering every day like they are watching a football game where their team is winning.
For me it is fascinating. Many of my friends work in engineering type of jobs at companies that are lily white from technician to senior management. BUT, they are all suffering from a persecution complex as if a black person (although none work there) might take their job any moment due to "DEI".
Amazing. The white class, which has suppressed black folks in America for 400 years, convinced itself they are victims and Trump is their hero. who will set them free from DEI oppression.
How does that work Bill? The actual oppressor/exploiter/slave owner and jail guard convinces himself he is a victim EVEN though he owns all the wealth in the country?
There is plenty of blame to go around for the "thinking" and attitudes of the folks you describe. I am an agnostic, but I used to respect and applaud the good work of religious organizations. Helping others.
But now I blame big time the leaders of all the churches and temples and mosques for being silent or complicit in this great big movement called "HATE the OTHERS".
If we were honest about our history, we would be feeling a sense of obligation to those who descended from slavery and brutality and the theft of their lands. The generational wealth gap is enormous.
We would want to HELP folks escaping persecution and death in other countries. We would embrace our fellow humans with compassion. We are the wealthiest nation to have ever existed and yet we allow a few oligarchs to hoard - and sharing has become a dirty word. It is disgusting and shameful.
The cruelty and discrimination is being resurrected as if we were in another form of sick Crusade against anybody not lily white. I feel like we are pretending to be in another century. We are regressing socially to a time that was despicable in its cruelty.
I blame the church leaders (except the Bishop in DC :). They have betrayed the founding principles of their "faith".
There's plenty of waste in DoD contracts, and I know firsthand from having worked on those in my career. That is where savings can be gleaned. Plus, of course, add to the deposit side as well and tax those billionaires/millionaires before they become trillionaires.
I'd never heard of Punchbowl, but it sounds like another propaganda tool. I agree with everything you said (coincidentally, I had just finished balancing my own checkbook).
Yes, we're mad as hell and we're not going to take this anymore!
Ah, come on, Bill you don't want those poor little billionaires to throw a temper tantrum do you? It breaks the hearts of the Congressional maggots to hear them whine about how badly they are treated. If Congress had an ounce of decency they'd place a 5% mandatory on the gross profits/and income of corporations and anyone whose gross income exceeds $10,000,000 dollars per year. No deductions, no loop holes, end of discussion
Well, plus Punch Bowl has really overstated the "mandate" that this administration supposedly has. In fact, according to some pretty convincing analysts who apparently come with receipts, we would be happy campers under a Harris administration right now if all the voters that wanted to vote managed to do so and all their votes were counted... even With gerrymandering.
Damn. I looked it up. My recollection was right. As reported by the IRS itself at the end of 2023: "The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with average annual financial statement income exceeding $1 billion." What happened to the 15% minimum tax?
It's probably in a line on the corporate balance sheets as "provision for taxes" to reduce the public declared profits without having to actually pay out any money. It will justify keeping dividends unnaturally low while retaining the cash to finance stock buybacks.
Thanks, Bill. We have two of the best grifters of all time sharing the Oval Office. Could this be just another episode of "Follow the Money"? Is it that simple and tawdry? Seems to be.
“State Department to buy $400 million in armored trucks from Tesla.” Are these the massive unsold inventory sitting on lots as demand has disappeared? Same trucks retrofitted? Or new vehicles? Was it put out for bid? Something stinks.
"Trump’s polls are better than ever." For context, Trump's polls are better than Trump's polls have ever been; that doesn't mean they're good, although that's how Punchdrunk would have you interpret it. The reality is that they're not very good and likely to get worse, not that I expect any change in Felon47's behavior as a result.
We need to keep in mind that the "value" of Tesla and the extrapolated value of Musk's holdings is based on the most recent stock price which is something like 177 times the most recent actual profits. That the profits are likely receding due to slumping (plummeting) sales somehow never comes up in stories about "the world's richest man". Like his puppet president, Musk can't afford to have anyone notice that there is a curtain behind which he's hiding. I've felt for a long time that a forensic audit of both presidents would reveal substantially less net wealth than they publicly give themselves credit for having.
I'm with you on waste, and if I thought that's what was being sought, I might consider being supportive, but I don't think so, therefore I'm not. If there were as many as 4 classic Republicans in the Senate and a half dozen in the House we'd see at minimum the lapsing of the 2017 tax rate reduction and a surtax directed specifically to the reduction of the debt. The economics of it aren't hard, but the politics have been made nearly impossible.
BTW, great piece Bill, and an outstanding graphic. I sense a Howard Beale comeback on the way.
Keep up the hard hitting, factual and excellent writing Bill. Nicely done today.
But, at least in my town, the few Trump religious followers I remain acquainted with are cheering every day like they are watching a football game where their team is winning.
For me it is fascinating. Many of my friends work in engineering type of jobs at companies that are lily white from technician to senior management. BUT, they are all suffering from a persecution complex as if a black person (although none work there) might take their job any moment due to "DEI".
Amazing. The white class, which has suppressed black folks in America for 400 years, convinced itself they are victims and Trump is their hero. who will set them free from DEI oppression.
How does that work Bill? The actual oppressor/exploiter/slave owner and jail guard convinces himself he is a victim EVEN though he owns all the wealth in the country?
A truly interesting psychological trick.
Thanks Mike,
There is plenty of blame to go around for the "thinking" and attitudes of the folks you describe. I am an agnostic, but I used to respect and applaud the good work of religious organizations. Helping others.
But now I blame big time the leaders of all the churches and temples and mosques for being silent or complicit in this great big movement called "HATE the OTHERS".
If we were honest about our history, we would be feeling a sense of obligation to those who descended from slavery and brutality and the theft of their lands. The generational wealth gap is enormous.
We would want to HELP folks escaping persecution and death in other countries. We would embrace our fellow humans with compassion. We are the wealthiest nation to have ever existed and yet we allow a few oligarchs to hoard - and sharing has become a dirty word. It is disgusting and shameful.
The cruelty and discrimination is being resurrected as if we were in another form of sick Crusade against anybody not lily white. I feel like we are pretending to be in another century. We are regressing socially to a time that was despicable in its cruelty.
I blame the church leaders (except the Bishop in DC :). They have betrayed the founding principles of their "faith".
There's plenty of waste in DoD contracts, and I know firsthand from having worked on those in my career. That is where savings can be gleaned. Plus, of course, add to the deposit side as well and tax those billionaires/millionaires before they become trillionaires.
I'd never heard of Punchbowl, but it sounds like another propaganda tool. I agree with everything you said (coincidentally, I had just finished balancing my own checkbook).
Yes, we're mad as hell and we're not going to take this anymore!
Ah, come on, Bill you don't want those poor little billionaires to throw a temper tantrum do you? It breaks the hearts of the Congressional maggots to hear them whine about how badly they are treated. If Congress had an ounce of decency they'd place a 5% mandatory on the gross profits/and income of corporations and anyone whose gross income exceeds $10,000,000 dollars per year. No deductions, no loop holes, end of discussion
Well, plus Punch Bowl has really overstated the "mandate" that this administration supposedly has. In fact, according to some pretty convincing analysts who apparently come with receipts, we would be happy campers under a Harris administration right now if all the voters that wanted to vote managed to do so and all their votes were counted... even With gerrymandering.
Damn. I looked it up. My recollection was right. As reported by the IRS itself at the end of 2023: "The Inflation Reduction Act created the CAMT, which imposes a 15% minimum tax on the adjusted financial statement income (AFSI) of large corporations for taxable years beginning after Dec. 31, 2022. The CAMT generally applies to large corporations with average annual financial statement income exceeding $1 billion." What happened to the 15% minimum tax?
If it had Biden's name on it, it's probably gone. 😠
It's probably in a line on the corporate balance sheets as "provision for taxes" to reduce the public declared profits without having to actually pay out any money. It will justify keeping dividends unnaturally low while retaining the cash to finance stock buybacks.
Thanks, Bill. We have two of the best grifters of all time sharing the Oval Office. Could this be just another episode of "Follow the Money"? Is it that simple and tawdry? Seems to be.
“State Department to buy $400 million in armored trucks from Tesla.” Are these the massive unsold inventory sitting on lots as demand has disappeared? Same trucks retrofitted? Or new vehicles? Was it put out for bid? Something stinks.
As the R's promote the tax cuts in the next budget because it will boost the economy, remember that it's really "tinkle-down" economics
Good one Andy. Yes, it's green going up to them and a yellow stream down on us.