Trump’s America – Episode # 137 – Feeding The Rich

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MORE, MORE, MORE - I’M STILL HUNGRY.
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By Arthur Piccolo

News Americas, NEW YORK, NY, Fri. Sept. 6, 2019: Don’t ever say President Trump does not take care of his people …

His RICH people. And what better evidence than the 2017 tax bill. The many provisions which simply cut the taxes of the very rich and the most profitable companies was not quite enough …

There were also some special goodies tucked into the 186-page legislation that you had to search to find, much like presents hidden in a Christmas stocking. In fact, there was one gift Trump brilliantly disguised as something for the poor and disadvantaged that was yet another GIFT FOR THE RICH …

Trump he is such a Prankster isn’t he? We are so Blessed!

Trump RHYMES with Prankster, Gangster, Monster and Dumpster!

Here is what we need – which I am proposing exclusively here in Trump’s

America for ALL legislation to stop this widespread abuse …

A new law that will require every piece of Congressional legislation to include an independently produced INEQUALITY/EQUALITY ANALYSIS, reviewing how all provisions of all new legislation will impact inequality in America if that legislation becomes law.

REVOLUTIONARY!!

It will tell us the Truth about all legislation and who REALLY benefits.

This outrageous provision of the 2017 tax law would have been RED flagged in the Inequality/Equality Analysis for the legislation identifying the REAL impact of this provision, if it was not rewritten to prevent this abuse!

How about this FREE advice for Congress in Trump’s America?

Finally, it’s time to bring back my media partners after doing without any of them for the last few episodes. A forced vacation for them enforced by me.

Welcome back The New York Times. To make up for ignoring them in recent weeks, I’ll let them pretty much write this episode for you and explain yet again how endlessly GREEDY many of the SUPER-rich are.

This Times article has a “perfect” (sic) title … “How a Trump Tax Break to Help Poor Communities Became a Windfall for the Rich.”

WINDFALL FOR THE RICH ……. music to President Trump’s ears!!!

Let’s dig into all the gory details in this Times article from August 31st.

President Trump has portrayed America’s cities as wastelands, ravaged by “crime and homelessness, infested by rats. But the Trump administration’s signature plan to lift them — a multibillion-dollar tax break that is supposed to help low-income areas — has fueled a wave of developments financed by and built for the wealthiest Americans.”

“Among the early beneficiaries of the tax incentive are billionaire financiers like Leon Cooperman and business magnates like Sidney Kohl — and Mr. Trump’s family members and advisers.”

PRAISE THE LORD of the rich & well connected. They inherit everything.

There is so much more I will be very selective …

“The stated goal of the tax benefit — tucked into the Republicans’ 2017 tax-cut legislation — was to coax investors to pump cash into poor neighborhoods, known as opportunity zones, leading to new housing, businesses and jobs.”

The stated GOAL really???? Suckers!

Here comes the GOOD part if you are very rich …

“Instead, billions of untaxed investment profits are beginning to pour into high-end apartment buildings and hotels, storage facilities that employ only a handful of workers, and student housing in bustling college towns, among other projects.”

WOW how surprising? NOT!

“Many of the projects that will enjoy special tax status were underway long before the opportunity-zone provision was enacted. Financial institutions are boasting about the tax savings that await those who invest in real estate in affluent neighborhoods.”

 It’s time for a famous Trump’s America ENCORE …

“Financial institutions are boasting about the tax savings that await those who invest in real estate in affluent neighborhoods.”

DOUBLE Encore …. “Financial institutions are boasting about the tax savings that await those who invest in real estate in affluent neighborhoods.”

Guess who one of these many Dirt Bags are? Yes indeed, former Trump sycophant turned attack DOG and the new darling of CNN, Anthony Scaramucci.

“Mr. Scaramucci’s development in New Orleans offers a portrait of how the tax break works. His investment company, Sky Bridge Capital, is using the so-called opportunity zone initiative to help build a hotel, outfitted with opulent restaurant and rooftop pool, in the city’s trendy Warehouse District.”

SCARAMUCCI $$$$ SCARAMUCCI $$$$$$ SCARAMUCCI $$$$$$

“The opportunity-zone tax break was targeted at the trillions of dollars of capital gains held by rich Americans and their companies: profits from investments in the stock market, real estate and other businesses, even short-term trades by hedge funds. When investors sell those assets, they can incur tax bills of up to 41 percent.”

YES indeed; who needs a job when you have CAPITAL gains if you are rich; your capital WORKS while you play and have fun, fun, fun $$$$$$$$. But in “fairness,” they create lots of LOW paying jobs with little or no benefits or security cleaning their mansions, yachts and jets and some their behinds too.

Sorry back to the so called tax bill and The New York Times article …

“It allows investors to defer for up to seven years any capital gains taxes on the money they invest in opportunity zones. (That deferral is valuable because it allows people to invest a larger sum upfront, potentially generating more profits over time.) After 10 years, the investor can cash out — by selling the opportunity-zone real estate, for example — and not owe any taxes on the profits.”

“Over a decade, those dual incentives could increase an investor’s returns by 70 percent, according to an analysis by Novogradac, an accounting firm.”

Another ENCORE ……

“Over a decade, those dual incentives could increase an investor’s returns by 70 percent, according to an analysis by Novogradac, an accounting firm.”

That’s right the SUPER RICH are increasing their wealth yet another SEVENTY % building LUXURY hotels and residential towers legally ABUSING a law supposedly meant to benefit the poor and downtrodden.

PRAISE THE LORD of the rich and powerful. They are The Blessed !

Here is what one of the VERY Blessed Ivanka Trump had to say ….

“We are very, very excited about the potential,” the president’s daughter Ivanka Trump said last year at an event …… “The whole White House obviously is behind the effort. The whole administration.”

YOU TELL IT LIKE IT IS Ivanka ….you go Girl !!! Daddy’s little girl.

“One recent morning, financial advisers representing several dozen of America’s richest dynasties — advisers to the Pritzker and Soros families were listed as attendees — crowded into a drab meeting room …….”

“The advisers were there to see Daniel Kowalski, a top aide to Treasury Secretary Steven Mnuchin and the Trump administration’s point person for the opportunity-zone rules. Mr. Kowalski is barnstorming the country, bouncing from one conference to the next, explaining to real estate investors and developers how to take advantage of the new rules.”

America home of the RICH … home of the POWERFUL … the rest of us are road KILL for their excesses and never-ending GREED.

“More than 200 opportunity-zone funds have been established by banks like Goldman Sachs and major real estate companies, including CIM Group of Los Angeles, which has previously been a partner with the Trump and Kushner families on projects. Those funds have said their goal was to raise a total of nearly $57 billion.”

That’s right; OPPORTUNITY zones for the 1%. BIG opportunity $$$$$!!

I can’t take too much more of this. I want to give The New York Times lots of space this week to make up for ignoring them recently but …

ENOUGH IS ENOUGH unless you are the GREEDY rich ….

There is so, so much more to this article but let me go to the very end of it and bring back the one and only ANTHONY SCARAMUCCI ….

“The night after Mr. Scaramucci’s pool party, more festivities were underway on the other end of the Las Vegas Strip — part of a separate event also focused on opportunity zones. One party was at the Soviet-themed Red Square restaurant. Inside, an investor handed out postcards with photographs of buildings he wanted to buy in opportunity zones.”

OPPORTUNITY ZONES forever ….. everybody sing …

God bless America land that they bought … stand beside her and buy her through the night and all day with a light from above … from the tax code to the opportunity zones … God bless America …. their home RICH home!!!

Feel better now? SORRY, ONLY if you are very, very rich.

America the land of OPPORTUNITY zones.

And the SOLUTION for the 99% of us is …. ENCORE from me.

“A new law that will require every piece of Congressional legislation include an independently produced INEQUALITY/ QUALITY ANALYSIS reviewed how all provisions of all new legislation will impact inequality in America if that legislation becomes law.

REVOLUTIONARY!

 LET’S FINALLY CALL THEIR SUPER RICH GREEDY BLUFF!

 (This series dedicated in honor of the late Liu Xiaobo & Jamal Khashoggi)

Arthur-Piccolo-ObamasAmerica
EDITOR’S NOTE: About The Writer: Arthur Piccolo is a professional writer and commentator and often writes about Latin America for New Americas.
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