Day 97: Tax Plans

Today's coverage was dominated by the administrations tax "plan". It was not so much a "plan" as a wish-list of tax cuts. To avoid linking to lots of articles:

• Here's an overview of the "plan". It primarily consists of huge gifts to most businesses, and hefty tax cuts for the very rich. Lower income people would benefit slightly from an increased standard deduction. This is an incredibly anti-progressive shift in taxation (progressive being the opposite of regressive for tax codes).
• There is no proposal to close tax loopholes whatsoever, but does do away with a number of taxes that only impact the wealthy, including the alternative minimum.
• The entire thing will blow a huge hole in the federal budget, as no new revenue streams are proposed.
• When anybody tells you that tax cuts will pay for themselves in increased activity in the entire economy, they're lying through their teeth (case in point: Administration). The rule of thumb is that a third of a tax cut is recouped in increased activity.

So, in summary: gift to the rich, hole in federal budget. This thing looks terrible.

In other news:

• The US plans to "bring Kim Jong-un to his senses". I am becoming really scared that these idiots are going to catapult the world into another pointless war.
• Also in North Korea news - the US ratchets up sanctions.
• The White house has backed down on the threat of withholding insurance payments, in order to ensure that a budget is passed.
• Trump has a new executive order directing the department of the interior to review all national monuments larger than 100,000 acres created since 1996. Basically, he wants to undo the equivalent of national parks in order to mine them. It's not obvious that he even has the power to do so, and you can bet there will be a fight.
• The FCC Chairman continues to be a dick, and has proposed rolling back net neutrality. This was hard-fought for, and we're not giving it up without a fight either.
• Trump's crappy plan to highlight the crimes of undocumented people has launched. A lawyer put it best why this scheme is so terrible: "This isn't about helping victims. It’s really about trying to vilify the immigrant population in this country and using that to their political advantage."
• Rod Rosenstein was confirmed by the senate as Deputy Attorney General. He's now in charge of the Russia probe at the DoJ.
• Another executive order, this time telling the education department to investigate overreaching federal regulations. Not much teeth in this order, but it's a first step towards dismantling the common core objectives.
• Tillerson and the State Department have royally fucked up diplomacy with basically the whole of Africa this past week, leaving the chief of the African Union in the lurch. To bungle something like this so badly requires special talent. I'm disgusted.
• Here's the whitehouse statement regarding their sanctuary city funding withdrawal being put on ice by a judge. It's essentially a temper tantrum: "This case is yet one more example of egregious overreach by a single, unelected district judge.  Today’s ruling undermines faith in our legal system..." My personal belief is that judges should be unelected - they should be appointed in a nonpartisan manner based on merit. The judicial system in this country is so highly politicized. Regardless, this judge was confirmed by the Senate, so it's all in the constitution anyway. Also, a legal ruling undermining faith in the legal system because that ruling went against their unconstitutional attempts? Wow. Who are these people again?