Protect Internet Freedom

Posted on November 26, 2017 by D. Posnett MD
kQs14yK
November 26, 2017
By

Donald Trump and the Republicans are trying to restrict American freedom and destroy the Internet as we know it.

They want to hand control of a crucial public resource – the Internet – over to corporations. These corporations will then be able to restrict the flow of information, effectively censor voices of dissent, and charge outrageous prices for access to online services.

This is an attack on American freedom, and it should alarm every citizen who cherishes the free flow of information in the digital age. We can’t allow corporations take control of our Internet. But stopping this nefarious scheme requires urgent action on this issue, most commonly known as Net Neutrality.

I don’t like the term Net Neutrality because it obscures what’s really at stake: FREEDOM. Our freedom to access the information and resources we need to keep our democracy healthy is under threat. Yet, Republicans on the Federal Communications Commission – led by former Verizon lawyer Ajit Pai – seek to hand our Internet over to private corporations.

But the Internet is a public resource that belongs to the People. That’s because the Internet was developed by our federal government in the 1960s and 1970s. The idea was to “build robust, fault-tolerant communication via computer networks.” The result was the Internet, which allows me to type these words on my laptop and share them with all of you immediately.

The US government funded the research and technology to create the Internet. This means American taxpayers paid for it. So, if the Internet belongs to anyone, it should belong to Citizens, not corporate fat cats.

According to Scientific American: “In truth, no private company would have been capable of developing a project like the Internet, which required years of R&D efforts spread out over scores of far-flung agencies, and which began to take off only after decades of investment. Visionary infrastructure projects such as this are part of what has allowed our economy to grow so much in the past century.”

The Internet belongs to us. But we have to fight for it right now, or we may lose it. There’s ample evidence that fake bots have flooded the Federal Communications Commission’s inbox with over a million fake comments supporting corporate control of the Internet. The corporations are working hard to take away your Internet freedom. It’s time to make sure the real voices of American citizens are heard on this matter!

Internet freedom is especially important because our entire economy now depends on the Web. Online sales on shopping holidays like Black Friday are overtaking in-store sales. This means the private profit of corporations in this digital age now depend on the use of a public resource we created through our government decades ago. The Internet – like roads, bridges, ports, and telecommunication systems – is a publicly funded resource that makes all private profit possible. The private depends on the public! We must never forget this, and we must make a point of saying it – especially at a time when Republicans are trying to sign away our property to corporations.

It’s time for us to make our voices heard. Please join me in standing up for American freedom and the public’s right to maintain fair control of a crucial public resource, the Internet.

Please click on the link below to make your voice heard – and share this with your friend and family.

  • Republicans are attacking our freedom and trying to destroy the Internet as we know it. We must stop them from giving control of our public Internet to corporations.
  • The Internet was developed by the US government and paid for by American taxpayers. This publicly funded resource must remain fair, open and neutral to benefit the American people.
  • All private profit depends on public resources – roads, bridges, ports, telecommunications, and the Internet. We must never hand public resources over to private corporations.
  •  The Internet is a public resource. Say it!

Please make your voice heard!

Go to this site! Leave a message (written, on the phone, on FB, on Twitter) for Congressman Lee Zeldin.

http://battleforthenet.com

#NetNeutrality

Posted in economy, FCC, Internet, Net Neutrality, Uncategorized, Zeldin | Tagged , , , , , , | Leave a comment

Annie Proulx Gave One of the Best National Book Award Speeches in Recent Memory

Posted on November 23, 2017 by bcolbath42

Posted on Vulture.com

By

Annie Proulx. Photo: Dimitrios Kambouris/Getty Images

The least suspenseful part of the National Book Award ceremony can be the most fun: the speech given by each year’s winner of the Medal for Distinguished Contribution to American Letters. Winners of that lifetime-achievement prize tend to be over 80, and to expound passionately on the general theme of “kids today.” In 2013 E.L. Doctorow seemed to argue that technology would eat our brains; the following year Ursula Le Guin called the assembled book publishers “commodity profiteers.” (No one is really sure what Gore Vidal said in 2009.) Last night, 2017 winner Annie Proulx gave one of the best speeches in recent memory, maybe because her conclusion was so gleefully ironic, and her gloom so well grounded in a year that truly does, on so many levels, suck. Here it is in full:

Although this award is for lifetime achievement, I didn’t start writing until I was 58, so if you’ve been thinking about it and putting it off, well…
I thank the National Book Award Foundation, the committees, and the judges for this medal. I was surprised when I learned of it and I’m grateful and honored to receive it and to be here tonight, and I thank my editor Nan Graham, for it is her medal too.

We don’t live in the best of all possible worlds. This is a Kafkaesque time. The television sparkles with images of despicable political louts and sexual harassment reports. We cannot look away from the pictures of furious elements, hurricanes and fires, from the repetitive crowd murders by gunmen burning with rage. We are made more anxious by flickering threats of nuclear war. We observe social media’s manipulation of a credulous population, a population dividing into bitter tribal cultures. We are living through a massive shift from representative democracy to something called viral direct democracy, now cascading over us in a garbage-laden tsunami of raw data. Everything is situational, seesawing between gut-response “likes” or vicious confrontations. For some this is a heady time of brilliant technological innovation that is bringing us into an exciting new world. For others it is the opening of a savagely difficult book without a happy ending.

To me the most distressing circumstance of the new order is the accelerating destruction of the natural world and the dreadful belief that only the human species has the inalienable right to life and God-given permission to take anything it wants from nature, whether mountaintops, wetlands or oil. The ferocious business of stripping the earth of its flora and fauna, of drowning the land in pesticides again may have brought us to a place where no technology can save us. I personally have found an amelioration in becoming involved in citizen science projects. This is something everyone can do. Every state has marvelous projects of all kinds, from working with fish, with plants, with landscapes, with shore erosions, with water situations.

Yet somehow the old discredited values and longings persist. We still have tender feelings for such outmoded notions as truth, respect for others, personal honor, justice, equitable sharing. We still hope for a happy ending. We still believe that we can save ourselves and our damaged earth—an indescribably difficult task as we discover that the web of life is far more mysteriously complex than we thought and subtly entangled with factors that we cannot even recognize. But we keep on trying, because there’s nothing else to do.

The happy ending still beckons, and it is in hope of grasping it that we go on. The poet Wisława Szymborska caught the writer’s dilemma of choosing between hard realities and the longing for the happy ending. She called it “consolation.”*

Darwin.
They say he read novels to relax,
but only certain kinds:
nothing that ended unhappily.
If he happened on something like that,
enraged, he flung the book into the fire.

True or not,
I’m ready to believe it.

Scanning in his mind so many times and places,
he’s had enough with dying species,
the triumphs of the strong over the weak,
the endless struggle to survive,
all doomed sooner or later.
He’d earned the right to happy endings,
at least in fiction,
with its micro-scales.

Hence the indispensable
silver lining,
the lovers reunited, the families reconciled,
the doubts dispelled, fidelity rewarded,
fortunes regained, treasures uncovered,
stiff-necked neighbors mending their ways,
good names restored, greed daunted,
old maids married off to worthy parsons,
troublemakers banished to other hemispheres,
forgers of documents tossed down the stairs,
seducers scurried to the altar,
orphans sheltered, widows comforted,
pride humbled, wounds healed over,
prodigal sons summoned home,
cups of sorrow tossed into the ocean,
hankies drenched with tears of reconciliation,
general merriment and celebration,
and the dog Fido,
gone astray in the first chapter,
turns up barking gladly in the last.

Thank you.

Posted in Uncategorized | Tagged , | Leave a comment

The da Vinci Lode

Posted on November 17, 2017 by D. Posnett MD

 The painting ‘Salvator Mundi’ by Leonardo da Vinci at Christie’s. Drew Angerer/Getty Images

To the Editor:

“The da Vinci Lode” (NY Times editorial, Nov. 17) is an important warning. The idea that the obscenely rich see nothing untoward in parking hundreds of millions of dollars on a rare but unexceptional painting is not just lamentable; it is obscene as well.

The sale of Leonardo da Vinci’s “Salvator Mundi” for $400 million, plus $50.3 million in commissions, should have everyone outraged. We have lost perspective. The concentration of wealth by the superrich highlights their indifference to the struggles of the rest of society.

The bubble will burst, and the result will be seismic. Doesn’t anyone feel the unmistakable rumbles?

STEVEN A. LUDSIN
EAST HAMPTON, N.Y.

 

Posted in economy, Ethics, Tax Reform, Uncategorized | Tagged , , , | 3 Comments

In Lockstep

Posted on November 17, 2017 by D. Posnett MD

https://img.washingtonpost.com/blogs/wonkblog/files/2017/11/saltmortgage1102-2-2.jpg

Letter to the Editor Printed in the East Hampton Star 11/16/17

Remember when Mitt Romney asked us to believe that “corporations are people too?”

Well, under the Republican House tax proposal, which our congressman, Lee Zeldin, has largely embraced, the G.O.P. has done Mitt Romney one better. Corporations are treated much better than us normal folks; indeed, we are now second-class citizens compared to the treatment being lavished on corporations.

Teachers who purchase school supplies (pens, construction paper, and the like) for their students used to be able to deduct these expenses. Under the House Republican proposal the deductibility of this expense would be eliminated.

Workers used to be able to deduct state and local taxes. This deduction is largely eliminated under the House plan. Corporations? No problem, state and local taxes remain fully deductible.

Have to move because your employer is asking you to take a better job elsewhere? These moving expenses used to be deductible. Not anymore. Corporations? Move to another country and outsource their jobs there instead of the United States? The expenses are fully deductible.

Mr. Zeldin says he is fighting for us. But other than fighting the elimination of SALT (State And Local Tax) deductions, a pocketbook issue he knows would spell doom in 2018, he is in lockstep with the Republican notion of treating corporations better — much better — than us. What Mr. Zeldin has forgotten is that corporations can’t vote, but the people he is screwing can.

JACQUELYN GAVRON

 

Posted in Tax Reform, Uncategorized, Zeldin | Tagged , , , | Leave a comment

House Passes Historic Debt Increase

Posted on November 16, 2017 by D. Posnett MD

http://www.crfb.org/press-releases/house-passes-historic-debt-increase

As per the Committee for a Responsible Federal Budget, this experiment has been tried and it failed:

“The last time Congress added 10-figures worth of tax cuts to the debt in 2001, it blew a hole in the budget and helped erase our surpluses — despite claims that economic growth would cover the cost. The growth fairy did not appear then, and it would be unwise to assume she will this time around.”

Today however, the experiment could be ruinous:

“When the tax cuts of 2001 were passed, debt was 31 percent of GDP, the nation was running budget surpluses, and we were on track to pay off our debt. Today, debt is 77 percent of GDP — higher than any time in history other than just after World War II.”

What should we expect?

“Instead of trickling down economic growth, the House plan will unleash a tidal wave of debt that will ultimately slow wage growth and hurt the economy.”

Reality show 2018: Mr. Trump and your Rep. followers ‘YOU ARE FIRED’

https://ethicsalarms.files.wordpress.com/2017/01/donald-trump-youre-fired.jpg

 

Posted in Tax Reform, Trump, Uncategorized | Tagged , , , | Leave a comment

Election Results: Much Still Needs to be Done

Posted on November 16, 2017 by D. Posnett MD

Like me, I am sure you were thrilled with the results from this past Election Day.

Our big wins in the Governors Mansions in New Jersey and Virginia were clear, first  signs that the Trump agenda can be rolled back.  Our gains in state houses across the country will provide us with a new generation of progressives who can lead us and provide votes to expand Medicaid, pass sensible gun laws and make sure we remain an inclusive and tolerant society.

But the success was not limited to our neighboring states.  The Suffolk County legislature remained in Democratic hands.  Riverhead’s long time Republican supervisor was upset and, for the first time, Riverhead has a female Supervisor.   And finally, Tim Sini was elected to bring much needed reform the Suffolk DA’s office.

But much work needs to be done.

The clear lesson is Republicans in suburban, educated areas are in peril.  While we had a nice Election Day, Democrats did lose town wide races in Brookhaven, Southold and Smithtown.

We still need to engage our neighbors who share our views, but do not vote regularly.  Our votes are here; we just need to communicate with our neighbors on issues they care about.  And we need to do it now and not wait for October of an election year.

Taking Action for Suffolk County is doing exactly this.  Through voter engagement, direct mail and direct appeals, they are marshaling our base to go to the polls.

Tuesday was a successful first step.  But next election day is a true test.  We will have the ability to send to Congress a person who will stand up to the excesses of Trumpism and once again ensure that Long Islanders have access to health care, can pay for college and make our economy vibrant.

All the best.

Bryan Erwin
Founder, Taking Action for Suffolk County

Posted in Uncategorized | Leave a comment

Zombie Health Care Repeal Part 5: What the GOP’s Sneaky Health Repeal Means for You

Posted on November 15, 2017 by D. Posnett MD

Yet another attempt to sabotage healthcare!  They just don’t get it.  David

View at Medium.com

The GOP is sneaking in a partisan health care repeal to pay for their tax cuts for the wealthy and big corporations. Here’s what you need to know:

  • GOP is sneaking in health repeal after failing four times. The American people rejected Republican repeal efforts four times over the course of the year. Now, they’re sneaking health repeal into their big tax cut bill for the wealthy and big corporations.
  • Sneaky repeal would rip coverage away from 13 million people and raise premiums by double digits. The nonpartisan Congressional Budget Office estimated that 13 million people would lose health coverage and premiums would increase double digits as a result of the health repeal provision Republicans are sneaking into their tax bill.
  • Key patient groups oppose sneaky repeal. Sixteen patient groups have announced their opposition: March of Dimes; the American Heart Association; the Cystic Fibrosis Foundation; the American Cancer Society Cancer Action Network; the Multiple Sclerosis Society; Lutheran Services in America; the American Lung Association; the American Diabetes Association; the National Health Council; the Epilepsy Foundation; the National Organization for Rare Disorders; the American Liver Foundation; Family Voices; Consumers Union; Little Mended Hearts; and Futures Without Violence.
  • Key industry stakeholders oppose sneaky repeal. Six health care industry groups have announced their opposition: America’s Health Insurance Plans; the American Academy of Family Physicians; the American Hospital Association; the American Medical Association; the Blue Cross Blue Shield Association; and the Federation of American Hospitals. In the words of CNBC: “Insurers, doctors and hospitals oppose repeal.”
  • The tax bill would trigger $25 billion in Medicare cuts. The nonpartisan Congressional Budget Office estimates that huge tax cuts for the wealthy and big corporations would trigger $25 billion in cuts to Medicare.
  • The tax bill raises health costs for middle class families and seniors with high medical expenses. The House Republican tax plan eliminates the medical expense deduction, which helps nearly 9 million people with high medical expenses, such seniors with long-term care, people with chronic health conditions and parents of children with disabilities. Nearly 70 percent of people who claimed this deduction earned $75,000 or less.
  • All of this is to pay for huge tax cuts for the wealthy and big corporations. Let’s be clear: Republicans are sneaking health repeal into their tax bill so they can pay for their huge tax cuts to the wealthy and big corporations. The Tax Policy Center found nearly half of the tax cuts would benefit the top 1 percent.
  • Republicans are not listening to the American people. Time and time again the American people have rejected health repeal. First, the GOP health care repeal is the most unpopular legislation in three decades. In last week’s elections, health care was the dominant issue. In the Virginia gubernatorial race, health care was the #1 issue to 39% of voters – more than double any other issue, and among those voters, Ralph Northam beat Ed Gillespie by 54 points (77-23). In New Jersey, 19% of voters ranked health care their top issue, and chose Phil Murphy over Kim Guadagno, who opposed the ACA, by 74 points (86–12). In Maine, voters “easily approved” an expansion of Medicaid by a nearly 60-40 margin. And in the Virginia House of Delegates races, Democrats ran on health care and achieved a historic victory, flipping fifteen seats.

 

Posted in ACA, AHCA, American Health Care Act, Health Care, Medicaid, Tax Reform, Trump, trumpcare, Uncategorized, Zeldin | Leave a comment

Individual Mandate Repeal in Latest Tax Bill Draft

Posted on November 15, 2017 by D. Posnett MD

Screen Shot 2017-11-15 at 11.21.56 AM.png

Author

Published Nov. 15, 2017

Dive Brief:

  • Republican leaders said Tuesday the latest version of their bill to overhaul the tax system would repeal the individual mandate in the Affordable Care Act (ACA).
  • Sen. Orrin Hatch (R-Utah) said he estimates the repeal would save $338 billion that could be used to offset tax cuts elsewhere in the legislation, Politico reported.
  • The Congressional Budget Office and Joint Taxation Committee earlier issued an analysis that concluded eliminating the individual mandate would result in 14 million people losing coverage by 2025 and premium increases of about 20%.

Dive Insight:

As anyone who has watched Congress debate ACA legislation this year knows, a proposed bill can change frequently during negotiations. The individual mandate repeal could still be tossed before a vote, but several Republicans are still looking for any way to deal a blow to the ACA.

The mandate is an essential part of the law, although it’s an unpopular one. Requiring most people to have insurance helps more young and healthy people to enter the risk pool. This helps payers offset the costs of covering people with pre-existing conditions. A repeal of the mandate would likely lead to more insurance companies choosing to pull out of the ACA exchanges.

Repealing the mandate would add to a string of actions weakening the law. President Donald Trump’s administration has taken a number of steps to undermine the ACA, including putting an end to cost-sharing reduction payments to insurers and paving the way for more catastrophic health plans. HHS has also drastically scaled back efforts to promote the open enrollment period.

Screen Shot 2017-11-15 at 11.19.31 AM

Recommended Reading:

Follow Shannon Muchmore on Twitter

Call Lee Zeldin to voice your opinion!   (202) 225-3826

There is a Phone-in “townhall” tonight on the topic of taxes!
Posted in ACA, AHCA, American Health Care Act, Health Care, Tax Reform, trumpcare, Uncategorized, Zeldin | Tagged , , , | 1 Comment

Trump Spurns Nobel Prize Winners—and the Feeling Is Mutual

Posted on November 14, 2017 by bcolbath42
Published in Daily Kos November 13

By Mark Sumner
US President Donald Trump speaks before signing an executive order on health insurance on October 12, 2017 in the Roosevelt Room of the White House in Washington, DC. / AFP PHOTO / MANDEL NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)

In a White House as radically anti-science as this one, it’s no surprise that scientists are being denied the usual honors.

President Trump, breaking a tradition that stretches back nearly two decades, will not personally greet the eight American Nobel laureates this year before they travel to Sweden in December to receive their prizes.

Considering that the Trump regime has censored scientists studying health effects of coal mining, removed vital scientific data from public sites, purged scientists from its scientific advisory boards, selected an anti-science nominee to head NASA, and that Republicans in Congress have joined them in blocking research into climate change, it’s not surprising that there would be a reluctance to welcome American scientists into the White House.

But then, several of those scientists weren’t exactly thrilled about the prospect of meeting such a science-hostile group in the first place.

Two American Nobel Prize winners, when contacted by STAT, indicated they would not have attended a White House event even if invited. Columbia biophysicist Joachim Frank, awarded a Nobel in chemistry for his work in microscopy, said in an email he was “very relieved” when he learned there was no chance of an encounter with the president.

Any Nobel Winners who wander up to Washington will be thrilled to find that Michael Kratsios— assistant to Trump supporter, Silicon Valley money man, and vampire Peter Thiel—will be there to greet them. Because nothing says “we value science” like sending the deputy director of the White House Office of Science and Technology to show what this crew thinks a Nobel is worth. But then, Kratsios does have a BS in science. Political science.

Posted in science, Trump | Tagged , , | 1 Comment

Dear America: An apology for Roy Moore, and all the rest

Posted on November 14, 2017 by bcolbath42

By Josh Moon

Alabama Political Reporter

Dear America,

We’re sorry.

I’m speaking for all of us here in Alabama, even if some of these people will never apologize and never believe that they’ve done anything wrong.

The rest of us know better, though.

We know what we’ve done to all of America over the past year, when the Alabamization of this country began. You weren’t ready for it, and I told you last November that no amount of lowering expectations could possibly prepare you for the river of lunacy that was rushing towards you.

And, well, let’s just say I nailed that one.

Over the last year, America has been treated to the Alabama “superfecta” of governance: Scandals, criminal indictments, bigotry and stupidity.

These things are shocking to most of you, but in a state that rarely has a governor complete a term without a criminal conviction and that has seen its Governor and House Speaker convicted and tossed from office in the current election cycle, it is like a warm cloak of familiarity.

It’s how we live; how we choose to live.

We thrive on corruption and chaos and unbelievable ignorance.

Like Roy Moore.

Where else could a man be booted from the Supreme Court for failing to follow the law, get elected Chief Justice again, get booted again, and now be on the verge of the same state electing him to the U.S. Senate?

That probably should be explained, because, to be quite honest, Moore is too bat-guano insane for even most of Alabama.

The reality is it took the most Alabama-level of political corruption in history to get us here. We needed the House Speaker convicted, the Governor to go down in a blazing flame of vomit-inducing text messages to his 40-year-younger mistress, a bumbling goof of a state AG, and for nearly 90 percent of the registered voters in the state to ignore an election for U.S. Senate.

And because this is Alabama, we got all of that.

So, here’s Roy Moore, set to star on the big stage.

And make no mistake, if given the opportunity to do so, Alabama voters are going to elect this man. That’s probably the most infuriating piece of this whole thing — that so many voters would do so little to prevent a man who they know is bad for Alabama from becoming one of two people who represent them in the U.S. Senate.

Honestly, I have no decent explanation for it. I mean, I know why it’s happening, but the reasoning is neither logical nor acceptable.

Basically, it’s two things: Alabama voters have been conditioned to think of each election as a game that must be won by their “side” — no matter who is representing their side — and they have been conditioned to do this through the use of fear.

The fear of Hell. The fear of black people. The fear of Mexicans. The fear of Muslims. The fear that something in their life won’t be tomorrow what it is today.

We are the most easily frightened bunch of snowflakes in American history. It’s why so many people here carry guns and vote for dopes who promise to save them from things like Sharia law. Our people are convinced that if a decent, good man like Doug Jones is elected to the U.S. Senate, what will follow are mass abortions and a Christianity ban.

That’s absurd, of course. And if any of them would bother checking the history books, they would understand that the majority of Alabamians do much better when the government is controlled by progressives than when it’s controlled by austerity-pushing conservatives.

But I suppose checking history is too much to ask from a group that’s currently tripping over themselves to defend Moore from mounting allegations of sexual assault on minors. They, like me, have no idea if the allegations are true, but they are convinced that the women are money-chasing Democratic plants who want to destroy the “good” name of Roy Moore.

They have bought — hook, line and sinker — the absurd excuses from conservative mouthpieces, such as Sean Hannity and Breitbart. They have chosen to listen to the people who tell them what they want to hear instead of those who tell them the truth.

And really, that’s always been Alabama’s problem — so many opportunist politicians playing upon the fears of common people for their own benefit, truth and consequences be damned. It has been a problem that has held this state down for decades.

And now, it seems, we’re infecting the rest of the country with this stupid disease.

For that, we owe you an apology.

Posted in GOP, Trump | Tagged , , | Leave a comment

THE HOUSE TAX CUTS AND JOBS ACT, AMENDED (11/9/17): THE DYNAMIC EFFECT ON THE BUDGET AND THE ECONOMY

Posted on November 14, 2017 by bcolbath42

Key Points

  • This brief reports Penn Wharton Budget Model’s (PWBM) dynamic analysis of The House Tax Cuts and Jobs Act (TCJA), as amended and reported out by the Ways and Means Committee on November 9, 2017.
  • After including the tax bill’s effects on economic growth, TCJA is projected to reduce revenues between $1.5 trillion and $1.7 trillion. Debt rises by about $2.0 trillion over the same period. Looking beyond the 10-year budget window, by 2040, revenue falls between $3.6 trillion and $4.4 trillion while debt increases by $6.4 to $6.9 trillion.
  • In 2027, GDP is between 0.4% and 0.9% higher than with no tax changes. By 2040, the difference between GDP under the House tax bill and current policy is between 0.0% and 0.8%, due to larger debt.

Introduction

Penn Wharton Budget Model’s (PWBM) previously reported static analysis and dynamic analysis of the House Tax Cuts and Jobs Act (TCJA), as of November 5, 2017. Since then the bill was changed by the 1st amendment and the 2nd amendment, and reported out of the Ways and Means Committee on November 9, 2017. This brief updates our previous analysis, including changes made to taxes for pass-through businesses and a special one-time repatriation rate. Readers are encouraged to read our previous analyses for related definitions used in this brief. Table numbers in this brief closely follow those presented in our dynamic analysis.

Budget Effects of the Tax Cuts and Jobs Act

Table 1 shows that over the 10-year budget window, The House Tax Cuts and Jobs Act is projected to reduce federal tax revenues between $1.5 trillion (high initial return to capital) to $1.7 trillion (low initial return to capital). Debt rises by more, by about $2.0 trillion to $2.1 trillion, over this period, due to debt services. By 2040, revenue falls between $3.6 trillion and $4.4 trillion, whereas debt increases by $6.4 trillion to $6.9 trillion.

Table 1: TCJA Effects on Revenue and Debt Relative to Current Policy

Revenue (billions of $) Debt (billions of $)
Static Dynamic Static Dynamic
Years High return to capital Low return to capital High return to capital Low return to capital
2018-2027 -$1,840 -$1,470 -$1,697 $2,115 $1,996 $2,121
2018-2040 -$4,731 -$3,614 -$4,438 $7,042 $6,387 $6,940

Note: The above estimates focus on the official definition of “revenue” and, therefore, do not incorporate tax refunds, which are recorded as outlays. Debt rises faster than lost revenue due to debt service costs, which revenue estimates ignore.

Economic Effects of the Tax Cuts and Jobs Act

The House Tax Cuts and Jobs Act has effects beyond federal revenues, including effects on GDP, labor income and U.S. capital services, which are summarized in Table 2. By 2027, GDP is between 0.4% and 0.9% larger than current policy in that year. However, this initial boost fades over time as more debt accumulates. By 2040, GDP is between 0.0% and 0.8% larger than current policy in that year.

Table 2: TCJA Effects on Key Macroeconomic Variables Relative to Current Policy in Year Shown

GDP (% change) Labor Income (% change) Capital Services (% change)
Year High return to capital Low return to capital High return to capital Low return to capital High return to capital Low return to capital
2027 0.9% 0.4% 0.9% 0.4% 2.3% 0.7%
2040 0.8% 0.0% 0.8% 0.0% 2.3% 0.0%

Note: Percentage change relative to current policy in 2027 and 2040, respectively. Consistent with our previous dynamic analysis and the empirical evidence, the projections above assume that the U.S. economy is 40% open and 60% closed. Specifically, 40% of new government debt is purchased by foreigners.

Conclusion

Penn Wharton Budget Model’s dynamic analysis projects that The House Tax Cuts and Jobs Act reduces federal tax revenue in both the short- and long-run relative to current policy. In the near term, there is a small boost to GDP, but that increase diminishes over time.

Posted in Tax Reform, Trump | Tagged , | Leave a comment

Zeldin Squirming on Tax Bill

Posted on November 11, 2017 by D. Posnett MD
swing-seat-republicans-squirm-over-gop-tax-plan__563343_

http://us.pressfrom.com/news/politics/-88477-swing-seat-republicans-squirm-over-gop-tax-plan/

Submitted by a friend:
Hear hear.  Let them persist !

I’m starting to really like Pete King.  The Senate tax bill is going to completely eliminate the property tax deduction and the state/local income tax deduction.  The House bill retains a 10k deduction for prop tax.  This tax bill issue will become a crisis for Zeldin. If he votes in favor, he screws his constituents, if he votes no, he blows up his relationship with GOP leadership and Trump.   I hear his squirming already.  The Resistance groups need to be all over Zeldin on this.
“[Representative Peter] King [R-NY], who opposes the bill as written, rejected the idea that Republicans, above all else, must pass a tax bill so they can show a major accomplishment. ‘How can you vote for tax reform if it’s going to increase the taxes in your district?’ Mr. King asked, suggesting lawmakers would have to say: ‘Great victory! We got the first tax reform through in 30 years. Your taxes are going up, but it’s O.K. because we got it through. People will think you’re nuts,’ Mr. King said.”

 –    New York Times, 11/8/2017
Posted in Tax Reform, Uncategorized, Zeldin | Tagged , , | 2 Comments

Anti-Semitic Posters on Cornell Campus

Posted on November 10, 2017 by D. Posnett MD

 

Letter published in the Ithaca Journal – part of the USA Today Network

Published . Oct. 25, 2017,  By Steve Ludsin

DM8wtAEUQAA8BXK

The anti-Semitic posters sighted and removed on Cornell campus were very disturbing. The fact that Cornell University’s campus awoke Monday morning to find anti-Semitic posters posted across campus, instructing students and passersby to “Say no to Jewish lies!” and “Join the white gang,” is chilling.

I am a Cornell graduate and a child of a Holocaust survivor. I received the email from Hillel and immediately reached out to the Rabbi. He was very reassuring but the need to react is not a job for one person. Elie Wiesel reminded us not to be silent. I remember the tumultuous times at Cornell during the late 60s, but I never encountered anti-Semitism. The cowards who posted these fliers remain anonymous and they defeat their own purpose. Anyone who remembers the evil of the Holocaust will understand where this ugly expression leads. The anniversary of Kristallnacht approaches. The Nazis smashed Jewish stores and burned synagogues and people were killed. The memory of six million innocent Jewish victims requires a swift reaction. Count me in.

STEVEN A. LUDSIN

EAST HAMPTON, NY

 

Count me in too!  David Posnett, MD, Cornell Emeritus Faculty & child of German Jewish survivors.  Would our ‘trumpkin’ right wing Jewish congressman care to comment?

 

Posted in Uncategorized | 1 Comment

Eight Turncoat NY State Senators

Posted on November 10, 2017 by D. Posnett MD
Want to know why New York can’t fix the MTA, have same day voter registration, and enact real campaign finance reform? There’s one big reason: The Independent “Democratic” Conference, also known as the IDC.
The IDC is a group of eight New York State Senators who run for office as Democrats, but work with the Republicans to block progressive legislation. Along with “Democrat” Senator Felder, who caucuses with the Republicans, these Senators hand control to the Republican minority. This is fundamentally corrupt and must change.
Many of the IDC’s constituents vote for them thinking they’re sending good Democrats to Albany, not realizing their Senators are keeping Republicans in control. We want to change that – and we need your help.
In the next two months, we’re educating constituents across New York state about the unethical IDC.
Contribute $3 now and help us boost this Facebook ad to let constituents living in IDC districts know who is really representing them.
Zephyr Teachout, Anti-Corruption League
Posted in NYS legislature, Uncategorized | Tagged , , , | 1 Comment

Gaming the Tax Plan in the Hamptons

Posted on November 10, 2017 by D. Posnett MD

I guess this should be expected.  Even if you are not a 2nd home owner out here on the East End, the value of your home could decrease!   Thanks Mr. Trump & Mr. Zeldin!

 

Hamptons Homebuyers Have Already Figured Out How to Game the Tax Plan

By Rob Urbanand, Prashant Gopal
  • Brokers see tax change adding to rentals in getaway spots
  • House bill kills vacation-home deduction, Senate to keep it
Westhampton Beach, Photographer: Walter Bibikow/AWL Images RM

Out in the Hamptons, Wall Street’s favored beach resort on Long Island, brokers and buyers already have a workaround for a tax-plan provision under consideration in Congress that would take away the mortgage-interest deduction for second homes.

A client of Brown Harris Stevens broker Jessica von Hagn who works at a hedge fund decided to turn the vacation home he’s buying into an investment property by setting up a limited liability company. That will allow him to deduct the interest and earn rental income at the height of the season from the modern home on Bridgehampton’s Lumber Lane, with four bedrooms, three baths and a swimming pool on an acre of land.

For the buyer: problem solved. For the Hamptons market: more high-end vacation properties getting listed as rentals, more competition and, most likely, falling rents.

“If you aren’t able to take advantage of the mortgage deduction for your second home, you’ll see more people putting their homes on the market and the inventory will grow,” von Hagn said. “There’s only a certain number of renters every season and we just keep adding more and more inventory.”

In second-home markets across the U.S., from Cape Cod in Massachusetts to Lake Tahoe, California, brokers are bracing for a hit. …

Should the final bill eliminate the tax deduction for vacation properties, the workaround — acquiring the home as an investment property — changes the nature of the purchase for buyers, turning their vacation home into a business….

If markets are flooded with properties for lease, rents will fall and so will values for those homes, she said.

The main focus of the tax debate on real estate has so far centered on mortgage-interest deductions for primary residences. The Senate version of the plan would preserve the existing write-off for up to $1 million of debt, while the House would reduce it for new purchases to $500,000 of debt.

 

Posted in Tax Reform, Uncategorized, Zeldin | Tagged , , , | 1 Comment

New American Citizen

Posted on November 5, 2017 by D. Posnett MD
natz

P032706ED-0075 Naturalization ceremony participants raise their hands and hold American flags as they are sworn-in as new U.S. citizens Monday, March 27, 2006,

I received this great story from a friend:
I am very pleased to say that just before leaving for Europe, I took the oath of allegiance and am now an American citizen (even managed to get a passport in time to travel). I would not mention it if it were not for the pretty extraordinary statement made by the Federal judge who presided over the ceremony. A naturalized citizen himself, the judge was an elderly gentleman from Lithuania whose family had fled to the U.S. during WWII. He said the US is a country that has seen waves of immigrants, each from different parts of the world, of which have been discriminated against in some form. He said that Americans had made many mistakes over time, but the important thing about out nation is its institutions and its constitution that ultimately give us the ability to change things and to set them right. In this regard it is unparalleled. He pointed to the fact that African Americans were originally brought to America against their will and the Japanese interned, etc. He said we continue to make mistakes, but as citizens we have the right to make our voices heard and to change things. He said that the streets are not paved with gold and that things will be hard for many, but nobody leaves as there is always hope. That for this reason, he said, it remains the best country in the world to call home.
Pretty extraordinary statement, I thought. Not filled with exhortations of exceptionalism or jingoism. Lots of respect for the man.
League of women voters was hard at work at the naturalization ceremony getting everyone to register. They clearly did a great job because I think practically everyone registered! 194 newly registered voters!
Posted in immigration/deportation, Religion & tolerance, Uncategorized | Tagged , , | 2 Comments

Republican Tax Plan Eliminates Social Justice

Posted on November 5, 2017 by D. Posnett MD
Nobody wants to relieve the middle class tax plight more than I, but as people debate the Republican tax plan, let’s look at the big picture in perspective.

Our Congressman, Lee Zeldin, states, “I believe that the state and local tax deduction should stay entirely. There are some people who want to eliminate the state and local tax deduction entirely. I sure hope that there is a sweet spot. I would love to get to yes.”
THERE IS NO SWEET SPOT!  There should be no compromise on state and local tax deductibility – it is no more than targeted wealth transfer away from New York and California.  FURTHER, the Republican tax plan is a strong no from every point of view, not just state and local tax.
The issues with the tax plan go deep.  It is a reprioritization of America’s goals through the tax code, and a transfer of wealth from large states to small ones, with a relatively small middle class tax cut sprinkled in for cover (and even this “cut” is actually a tax increase for many middle class groups).  In the name of “simplification” the tax plan eliminates virtually all deductions and incentives.  But these “complications” in the tax code are materially a good thing.  The US tax code “rewards” certain actions and behaviors.  This is an important part of how we function as a society, and to take them out will make us a much lesser nation.  Do we really want these revisions to the tax code?
  • Eliminate deduction of interest on student loans – the deduction makes college more affordable for the middle class
  • Eliminate deductions of medical expenses – the deduction lessens the blow of paying for significant medical hardship
  • Eliminate deductions of critical nursing home costs – the deduction makes it easier for our elderly to be cared for
  • Add an excise tax on university endowments – this will make it more expensive for our higher education institutions to function and make college more expensive for the middle class
  • Eliminate the credit for adoptions and include adoption assistance funds in employee income – this will make adoptions more expensive
  • Eliminate the New Market Tax Credit – the change will cancel a program that supports public-private partnerships that have created over 750,000 jobs in poorer towns throughout the US
  • Eliminate the moving expense deduction – the deduction softens the blow of relocation costs when an employee loses his job and must move to find new work
  • Eliminate the credit for employer providedchild care – this will make it more expensive for two-earner families to raise their children
  • Eliminate the Work Opportunity Tax Credit – a subsidy for certain groups who have historically and consistently faced barriers to employment
  • Limit the home interest deduction – this will increase the cost of living for middle class families in high cost areas such as Long Island and reduce our property values
  • Make dark money tax deductible by eliminating the Johnson Amendment – this will allow groups like the Koch brothers to donate to churches, deduct the donation, and permit the church to provide political contributions with those funds, untraceable to the Koch brothers.
  • And most of all, the tax bill generally provides almost all of its cuts to high income earners, while the income tax on many middle class wage earners will go up
So Representative Zeldin, putting state and local deductions aside, is this really a good plan?  For New Yorkers?  For the middle class?  For families?  For people trying to get educated or care for the elderly?  Or simply make our society a little more just?
When I am elected to Congress, I will fight to protect the middle class and improve their tax burden, but I will do so without a massive wealth transfer to the least needy. And I will fight to preserve the good elements of the current tax code cited above.
By Perry Gershon
Posted in economy, Tax Reform, Uncategorized, Zeldin | Tagged , , | Leave a comment

Those Bothersome Facts

Posted on November 4, 2017 by D. Posnett MD

london-array-762x497

In the age of “alternative facts”, Breitbart and Fox faux news,
we can all make an effort to point out BS when we recognize it!  Bravo Nigel, an R&R regular, for his Letter to the Editor of the East Hampton Star Nov. 2nd, titled “Their Facts”:

 

Last week I attended the presentation of 8 of the Republican candidates for the East Hampton Town trustees. Each one spoke against the offshore wind farm, over which their jurisdiction has no control. In conversation after the event, I was told by one of the candidates, a previous member of the trustees, that the turbines only operated at winds from 10 m.p.h. to 30 m.p.h. This is incorrect. If you think about it, there would be little motivation to build a wind farm with such a small opportunity for success. The turbines rated wind tolerances are 3 to 25 milliseconds, which is 6.7 m.p.h. to 56 m.p.h. I really wish candidates would get their facts correct before they speak.

NIGEL NOBILE

Posted in East Hampton, Environment, sustainable energy, Town Board, Uncategorized, wind energy | Tagged , , , , , , | 1 Comment

Paul Giardina: proud Zeldin fan

Posted on November 4, 2017 by D. Posnett MD

Letter published in the East Hampton Star, Nov 2nd, by one of our R&R regulars (just to remind us of the record):

 

Zeldin’s Record

 

According to his Feb. 13 letter to the East Hampton Star, Paul Giardina is a “proud” and “unabashed supporter” of Congressman Lee Zeldin, who Giardina believes “stands up for core American values.”

So what are the values reflected in Zeldin’s record? His 2016 environmental votes are so toxic he merited a rating of only 8 percent from the League of Conservation Voters. He voted for the American Health Care Act, which would have taken health care coverage away from millions; he’s expressed support for a budget that would blow up the deficit and slash Medicare and Social Security; he refused to help the victims of Hurricane Harvey; he opposes Planned Parenthood and has voted to limit reproductive choice; he supports allowing out-of-state gun owners to violate our state’s ban on concealed carry; his votes align with Trump’s agenda 92 percent of the time, and he believes Steve Bannon “got a bad rap.”

While Paul Giardina may find those positions admirable, I believe the voters of East Hampton do not. I urge you to vote for Jeff Bragman, who will make decisions for our town based on values we do respect, among them: protecting our environment, providing affordable housing, preserving our unique historical character, and promoting an economy that works for all.

AMY TURNER

Posted in East Hampton, Uncategorized, Zeldin | Tagged , , , , | Leave a comment

The Party of Trump

Posted on November 4, 2017 by D. Posnett MD

Screen shot of the Facebook page of Manny Vilar (before he “cleaned it up”) – he is running to be Supervisor of East Hampton…

Screen Shot 2017-04-13 at 5.17.14 PM

 

Letter to the Editor, East Hampton Star, Nov 2nd 2017

While walking our roads I saw a few election signs. I’m going to speak specifically about the two Republican candidates. Their slogan was something about transparency and putting politics aside for people.

Now to me this seems sarcastic. The Republican Party is the party of Trump. And Trump has revealed very, very clearly what the Republican Party is for. The Republican Party is the champion of misogyny, the hate of brown and black people, the subjugation and punishment of poor people, the outright attack on the sick and disabled, war, complete protection of the top 1 percent who have most of the wealth in the country, the K.K.K. and its splinter groups that are veiled as nationalism, Christianity as interpreted by white men as the only religion that matters, the destruction of public schools, the persecution of L.G.B.Q.T. members of our society, and one other thing — a complete and utter attack and threat to the security and safety of all Americans and our allies.

Look at what is happening in this country, this isn’t greatness. If you believe that this is the way a great leader governs, you need to read European and American history. Search for World War II and its causes: That is very basic and simple. I’m sure I forgot a few things, but these are the issues that pop into my mind when I think of the Republican Party. I’m not a fan and will never vote for a Republican candidate.

Sincerely,   ANN CUNNINGHAM

Posted in East Hampton, Uncategorized, Zeldin | Tagged , , | Leave a comment