Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799

Colder this weekend in Minneapolis and Chicago than Antarctica. Colder even than high noon on Mars! Spending a lot of time inside pondering the end of the government shutdown in Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799.

Breaking News! Winter Is Cold!

These days theories about why winter is cold abound. An arctic polar vortex that has split in two. An impending flip in the magnetic polls? Consequently we spend a lot of time talking about the weather.

Trump Yields To Pelosi

First of all this weekend will go down in history as the moment when President Trump yielded to a newly elected congress controlled by the democratic party. At least for the next three weeks.

Air Traffic Controllers

A snafu at some of the nation’s largest airports, caused by air traffic controllers calling in sick brought the president to his knees. Finally a deal was made to reopen the thirty percent of the government that was ‘shut down’ which did not include funding for a ‘wall’ on the US Southern Border. Find out what’s next in Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799.

Too Cold To Care

But the cold is the most noteworthy topic. How do you adjust to the cold? When it comes to getting out of the cold where do you go? Can’t bother to spend a lot of travel money to go someplace that is 60 degrees. People from the upper midwest, used to sub zero temperatures, have to go to the equator to get the cold out of their bones!

Freewheeling Talker

Moreover this freewheeling talker includes a lot of opinions about people yelling and screaming. Social Media. Cable News Channels. My view is we’re not getting anywhere because people are watching and listening to media that confirms their own biases. So getting to the bottom of what the situation is, or isn’t, can be difficult.

IS The Economy Booming?

A good example are assertions that the economy is ‘booming’ or that US consumers are already benefiting from ‘tax cuts‘. I’ll tell you whether this is true in Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799.

In conclusion I would much rather comment on the social implications and facts rather than join the crowd predicting the future and telling you what to think,

It’s Way too cold for that!

Sponsored by John D Scott Personal Injury Lawyer and Water Butler Water Purification Systems

Polar Vortex-Deep Freeze-Cabin Fever-Thoughts-Bob Davis Podcast 799

 

Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688

Both houses of congress have now passed the 2017 Tax Cuts and Jobs Bill. After four hours and near blindness, I finished all one thousand plus pages. Every citizen should read this bill. In Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688.

Big Little Reforms

Especially relevant is the public relations effort by republicans to convince voters this is a ‘sweeping’ reform of the US tax Code. In fact it is an amendment to a budget bill that further amends the 1987 Tax Reform Act.

Everyone Loves Or Hates

Moreover, if you read the bill, you should almost have a copy of the 1986 Tax Reform Act handy. Both sides of the so called political divide are touting how great this legislation is, or how it will end the world as we know it.  I’ll give you some details in Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688.

Please Hold For Your Tax Attorney

Truth is if you are in business you’re still going to need an accountant and tax attorney advise you. Some businesses will see their taxes increase. Some individuals will see their taxes increase. Sure, the standard deduction has been doubled and tax rates reduced…but…

It Might Be Good…Then Again

There will be fewer deductions and thus fewer ways to legally reduce exposure to taxation. Depending on your specific situation you might see an increase or decrease in your overall tax. I explain some of this in Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688. In addition, listen to my tax reform podcast to understand the political game going on under the guise of fixing the tax code.

Never Underestimate The Power of Free Beer

There are scores of pages concerning craft beer, wine and spirits. Guess all those receptions with free hootch for members must have worked! Finally there are lots and lots of new rules regarding businesses of all kinds.

Beware of Congressmen Bearing Cool Sounding Jargon

When congressmen and senators go out among the people and talk about all they have accomplished, you’re going to hear the words ‘pass-through’ and ‘average american will save’ such and such a lot. What does it all mean? Find out in Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688.

More Government Control

In conclusion my final reaction is the sadness I feel that our federal government controls so much of what we do as citizens through the mechanism of taxation. Republicans who campaigned on a tax cut have certainly paid off on that promise, at least until 2025, but at what price. That is the 1.2 trillion dollar question. President Trump signed the bill into law Friday afternoon.

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Read Entire 1097 Page GOP Tax Bill-Part 1-Raw Reactions-Bob Davis Podcast 688

When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676

They call it Tax Reform. A Jobs Bill. That’s what it must be, right? Journalists and commentators are playing the same old game. Argue a proposed piece of legislation on its merits. Time to reset the boundaries in When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676.

Freedom Of Choice

While listeners to The Bob Davis Podcasts always have the freedom to choose what they think is right, I want to introduce the concept of marginal improvement. Legislators on both sides of the political spectrum talk big about ‘reform’. Usually though they make what really are marginal changes. This is especially relevant when we’re talking about the tax code.

The Real Football Game Is Congress

Team Red moves the ball back to the Blue thirty yard line. It’s hailed as a great victory. Team Blue moves the ball back to the Red twenty yard line a few years later. These are what both sides call marginal improvements. Meanwhile, as economist Milton Friedman famously suggested, they keep getting elected by making the tax code more complicated.

Budget Neutrality Isn’t A Thing

Enter a legislative concept called Budget Neutrality. The idea every expenditure must be ‘paid for’ with tax increases, or budget cuts. You think Tax Reform means lower taxes. What they’re really doing is taking away tax deductions and loop holes, and increasing our overall tax. The sad part is, it’s not their money, it’s our money. In When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676.

What Is Real Reform?

If you want real reform. The end to this kind of corruption? Then the power of the federal government to tax our incomes and our property must be permanently eliminated. Should corporations be taxed at all? Do you have property rights if you pay property taxes? How does government pay for the wonderful things both sides wants it to provide? We talk about it in When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676.

Already Socialists

So called conservatives like to argue the merits of capitalism versus socialism. It seems like I’d be on pretty safe ground if I suggested the United States has been collectivist for decades. Our economic system is not so much capitalist as it is a controlled market economy. Our elected Kings and their privy courts control our behavior and our futures with regulation and a tax code so complex, were it to be proposed as a single law in its present form, it would cause a revolution.

(Editor’s Note: While the first actual income tax in the United States was levied during the Civil War, it was later repealed as ‘unconstitutional’. Several attempts were made to establish an income tax through the late 1800’s which were unsuccessful, until the 16th amendment, ratified in 1913.)

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When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676