TRUST THE LIES NOT THE 'TRUTH' | black and white | Thomas Guest ...1024 ├-- 580 - 341k - jpg
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'35% of U.S. equities are now owned by foreigners; what this means is that around 35% of a tax cut-- $700 billion over the next decade — wouldn’t go to Americans. It would be a windfall to wealthy foreigners, who would probably gain a lot more from the tax cut than U.S. workers. The administration claims that all of this tax cut will be passed on to workers in the form of higher wages. In fact, it claims that the wage gains from the tax cut will be several times as large as the revenue loss . The budget resolution the Houseand Senate passed over the last week called for cuts of $1 trillion in Medicaid and almost half a trillion in Medicare.Oh, and we don’t know exactly how upper-middle-class taxpayers will be punished — will they lose their deduction on state and local taxes, some of their tax breaks on retirement accounts, or something else?'