November 30, 2017 6:15 AM HomeMorning ReadsMorning Reads – Thursday, November 30, 2017 Morning Reads – Thursday, November 30, 2017 By Jessica Szilagyi Morning Reads 47 Comments On this date in 1894, the Governor of Georgia during the Civil War passed away. Joseph Emerson Brown opposed nearly every Confederate policy. Peaches Georgia plant closing The Georgia Dome replacement hotel How one local government is blasting off into the space business Georgia Power is setting the bar a little higher with utility poles Albany plant recognized for clean energy – a big deal for SWGA This year’s Certified Chambers of Commerce Irma damage now toppling $670 million in Georgia Israel a topic in Georgia Governor’s race Jimmy Carter DNC to depose Sean Spicer Outrage over White House Christmas Dem lawmaker says Pelosi set women back decades Address climate change or face Moody’s downgrade Ahh, beloved government Sweet Tea American Airlines lands award for worst planning ever GM joining driverless car market Love at first site doesn’t exist Custom Kaepernick cleats… …but the effect of the Anthem rages on Please let it hit. Share this:TwitterFacebookTumblrRedditEmailPrint Related About Author jszilagyi5 47 Comments Andrew C. Pope The Donor Relief Act of 2017 (a.k.a. the Senate tax bill) made it out of committee and is headed to the floor for debate today. Just a reminder that the tax plan is projected to add $1.4 trillion to $1.5 trillion to the deficit over the next 10 years. Not only that, the House and Senate bills place constraints on local and state government spending on healthcare, education, public transportation, and social programs. But I thought Republicans cared about local control? Sorry kid, states rights only matter as long as David Perdue saves millions on his taxes. The tax bill will also kick 13 million people off their insurance AND cut Medicare by $25 billion annually. But I thought everyone agreed that was a bad idea? They did, but these morons are doing it anyway. It’ll probably lead to a 10% premium increase across the board and death spirals in some states. But Don Jr. is gonna inherit a lot of money one day and we wouldn’t want him to pay any taxes on that. Also, if you’re self employed, the tax bill cuts almost ALL deductions for self-employed individuals: child and dependent care, education expenses, job expenses, home office tax deductions, etc. Why does it do these things? Because, f you, that’s why. But economic growth will offset the huge hole this will blow in the deficit, right? The U of Chicago polled 38 leading economists. Just one said that the proposed economic growth numbers were attainable. All 38 agreed that the tax cuts would add significantly to the deficit. The CBO says that this bill doesn’t work and the growth numbers are bogus. The JCT says that this bill doesn’t work and the growth numbers are bogus. Goldman Sachs says the growth numbers are bogus. Bruce Bartlett, the engineer of Reagan’s tax cuts, said this: “What they have here is a big tax cut for the rich paid for with random increases in taxes for various constituencies. It’s ridiculous. And it’s telling that they’re ramming this through without any debate. All of the empirical evidence goes against the tax cut.” Shoot, even the GOP Senators pushing this thing think the growth numbers are bogus. When Sen. Corker proposed a trigger that would raise taxes in the event 0.4% economic growth wasn’t met, a lot of Republicans came out strongly against it. If they really believed that this plan would work to stimulate economic growth, why would they oppose the trigger? That’s really bad, why are they pushing this through? Well, because their donors want them to. The Mercers, the Kochs, the Trumps, the DeVoses, the Adlesons, the Kushners… these families will save billions upon billions of dollars thanks to these cuts and they’ve been giving a lot of money to Republican politicians for an awful long time to see that these tax cuts come to fruition. As Sen. Graham noted, “the financial contributions will stop” if they don’t get this bill passed. Not to mention, folks like Sen. Perdue are already obscenely wealthy. Did you think he got into politics out of some commitment to public service? This tax bill is merely an opportunity for him to pad his wallet a little more and maybe finance a new wing on his Sea Island mansion. As we’ve seen already this year, the GOP doesn’t give two rips about working class and middle class Americans. November 30, 2017 8:09 AM Log in to Reply Andrew C. Pope As an addendum… By 2027, people making $40,000 to $50,000 would pay a combined $5.3 billion more in taxes while those making $1 million or more would get a $5.8 billion dollar cut.” Think about this the next time some rich goon like David Perdue or Donald Trump tries to say this is a massive handout for the super wealthy. November 30, 2017 8:18 AM Log in to Reply Dave Bearse I say we use th borrowed money to award by lottery $1,000,000 tax free to 1,500,000 Americans. There’s more equity and policy in that than in this bill. November 30, 2017 10:07 AM Log in to Reply Andrew C. Pope THIS IS WHY WE NEED TAX CUTS, PEOPLE!! Won’t someone please think of the poor poor billionaires getting duped by fake wine? “Koch admits there will be little sympathy for a wealthy person spending $50,000 to $100,000 for a fake bottle of wine, but he choked up as he described his distress at seeing the debasement of “the art, craftsmanship” of so many fine wines being faked.” http://abcnews.go.com/Blotter/makes-billionaire-cry-bill-koch-duped-wine-fakes/story?id=24111774 November 30, 2017 11:32 AM Log in to Reply Noway2016 http://www.cnn.com/2017/11/30/politics/al-franken-groping-allegation/index.html A 5th accuser? Wow! One more and he’ll have his own women’s volleyball team. But he’s still hard at work… November 30, 2017 8:42 AM Log in to Reply Enjoy the Silence I guess he has almost caught up to Roy Moore in number of accusers. Looks like sleaze has no politics. November 30, 2017 10:10 AM Log in to Reply blakeage80 I admittedly don’t know a whole lot about credit ratings, but it seems like Moody’s is putting cities and towns between a rock and a hard place. I get taking exposure to certain risks into account, but I am unclear from the article on what is changing. On one hand the article says if a town is building seawalls, that’s a warning sign. On the other it wants risk mitigated. Anybody out there to help explain this to a non-credit dude? November 30, 2017 8:47 AM Log in to Reply bethebalance I didn’t look over any detail of their methodology, but it looks like the risk is going to be generally assumed for coastal communities, and scored, specifically, by measures of economic activity, properties, and mitigation/resiliency efforts. I.e., the “hard place”, which is the economic impact of climate changes, is a given. November 30, 2017 9:21 AM Log in to Reply MattMD_actual “On this date in 1894, the Governor of Georgia during the Civil War was born.” Or died as the case may be. November 30, 2017 9:04 AM Log in to Reply Andrew C. Pope He “opposed nearly every Confederate policy” except for the big ones like, you know, the subjugation of an entire race of people. In fact, he was such a staunch believer in the oppression of blacks, the made a fortune (over $22 million in today’s dollars) on the backs of leased convict labor. Oh, and his turd sandwich of a kid was one of the ringleaders of the Leo Frank lynching. November 30, 2017 9:21 AM Log in to Reply Dave Bearse The writings of Alexander Stephens, Confederate VP that detailed slavery as the cause for the Civil War, years after the war would be amusing were it not for their damage. The presence of his statute in the nation’s Capitol building is indeed representative of Georgia for all the wrong reasons. November 30, 2017 11:10 AM Log in to Reply Jack Fitz Rex Tillerson out. November 30, 2017 9:57 AM Log in to Reply Noway2016 Is that real yet, Jack, or speculation of future happening? November 30, 2017 10:07 AM Log in to Reply Jack Fitz Real. Apparently moving Mike Pompeo over from CIA, and replacing Pompeo with Tom Cotton. While I think that fulfills Cotton’s dream, it certainly looks like Trump is going to create another opening in the Senate that not too long ago was held by Democrats. Maybe Blanche Lincoln sees a comeback? Who knows, Arkansas is tough. But if Alabama is suddenly at risk, anything can happen. Just seems foolish to put another Senate seat at risk. November 30, 2017 10:11 AM Log in to Reply Noway2016 Where are you seeing this? I saw a NYT article that it was in the works but not now. November 30, 2017 10:13 AM Log in to Reply Noway2016 Cotton would be a dope to give up his seat… November 30, 2017 10:14 AM Log in to Reply ScottNAtlanta source? November 30, 2017 10:24 AM Log in to Reply Jack Fitz NYT that Noway was referring to as well. Said to be “within weeks”, and Asa Hutchinson names a replacement until a special election in 2018. November 30, 2017 10:26 AM Ellynn The original rumor was reported in early October by Jonathan Swan at Axios. The link below has the todays NYT rumor and the two Axios pieces relating to the story, including the move of Cotton to CIA. Swan has a good average of be on target. https://www.axios.com/tillerson-reportedly-will-be-replaced-by-pompeo-within-weeks-2513799828.html?utm_medium=linkshare&utm_campaign=organic November 30, 2017 10:48 AM Andrew C. Pope The NRSC is not going to be pleased. November 30, 2017 11:02 AM Dave Bearse Wow. But, hey it may be because his job is done. The State Department has been decimated with valuable experienced employees having been run off, clearing the way for “really smart and I know a lot of things” Trump and his boy blunders family members to have a free hand, with the aid of “civilian” military and ex-military in the WH. Rex meanwhile can move on to turnaround something else, or simply cash in early ahead before the other quit.. November 30, 2017 10:17 AM Log in to Reply Will Durant Tillerson actually proved to be more diplomatic than I expected. But where a ton of diplomacy is needed he answers to a President who doesn’t possess an ounce. November 30, 2017 10:26 AM Log in to Reply Dave Bearse The performance of the leader of a Department should primarily be judged on the performance of it his leadership. That he personally tried hard doesn’t overcome what’s happened to the Department, particularly that what’s happened overall to the Department reflects the vision he had for it that didn’t come out as expected. November 30, 2017 11:15 AM Log in to Reply Andrew C. Pope If this was any other administration, I’d say “this is too stupid to be true.” The fact this administration is staffed by absolute morons makes this story all the more believable. Tillerson may go down as the worst SecState of all time and he’s worked overtime to decimate State’s institutional knowledge and run off experienced members of the diplomatic corps. Despite this, he at least served as some kind of check on Trump’s vacuous attempts at foreign policy. Pompeo is going to come into the rubble of a weakened State Department and enable Trump’s more dangerous tendencies. Noway, for once, is right. Cotton would be an idiot to give up a safe seat in Arkansas (a seat that isn’t up until 2020) to taint himself with the stain of this administration. As a Democrat, I strongly encourage Sen. Cotton to take the position. As an American, I shudder at the thought of that vindictive clown running any federal agency, let alone a major intelligence service. Also, friendly reminder that Tom Cotton held up the vote on Cassandra Butts’ ambassador nomination until she died of cancer because she was a friend of President Obama and he wanted to inflict “personal pain” on the President. The dude deserves a roundhouse kick to the throat, not appointment to the head of the CIA. November 30, 2017 10:28 AM Log in to Reply xdog I thought Cotton wanted to be president. November 30, 2017 4:20 PM Log in to Reply Trey A. “The dude deserves a roundhouse kick to the throat, not appointment to the head of the CIA.” Don’t forget the letter to Iran. November 30, 2017 11:42 AM Log in to Reply Noway2016 Everybody get out the popcorn on this…. Drudge: “TODAY staff blast ‘smug’ Megyn…” http://www.dailymail.co.uk/news/article-5132803/Today-staff-throw-shade-Megyn-Kelly-Lauer-firing.html November 30, 2017 12:32 PM Log in to Reply Noway2016 Well, hell…Gomer’s gone. I believe, other than Ron Howard, Thelma Lou is the last surviving adult. This sucks. http://www.tmz.com/2017/11/30/jim-nabors-dead-dies/ November 30, 2017 1:10 PM Log in to Reply Will Durant Miss Ellie and Charlene Darling are still kicking. November 30, 2017 2:09 PM Log in to Reply Noway2016 You mean Miss Ellie from Dallas? I don’t remember one from Andy. You’re right, Charlene is still here. Ohhhhhhhhhhhh, Ellie Walker?! Druggist girl? Eleanor Donahue!!! Still here… November 30, 2017 2:12 PM Log in to Reply Will Durant Miss Ellie as in Opie’s teacher/first crush/brief fling with Andy. Actually seeing your edit you are correct she was a pharmacist but Opie still had a crush on her. November 30, 2017 2:21 PM Log in to Reply Ellynn And the GOP just lost more millennials. And Colorado. https://www.axios.com/sessions-marijuana-crackdown-2513833744.html?utm_medium=linkshare&utm_campaign=organicnals. November 30, 2017 1:49 PM Log in to Reply Noway2016 Damn, Jerry Rivers?? I mean Geraldo!! Say it ain’t so… http://people.com/movies/bette-midler-accused-geraldo-rivera-of-groping-her-in-1991/ November 30, 2017 2:32 PM Log in to Reply Will Durant Yep, Jerry Rivers in fiction and the author of that “fiction” and ex-father-in-law Vonnegut described: “My daughter was briefly but regrettably married to Geraldo Rivera, a total and complete degenerate sleaze, but I don’t mean that politely.” He also stated in one of his letters that he was “fierce Democrat and closet Marxist” along with being a serial philanderer. November 30, 2017 2:43 PM Log in to Reply Noway2016 I kinda thought we could throw him in the Repub column, seeing as how he’s worked at Fox for so long… November 30, 2017 2:57 PM Log in to Reply Will Durant Perhaps he had his own Damascus Road or more likely he is willing to spout anything for money like most Murdoch owned “journalists”. Uh, Al Capone’s “vault” anyone? Keep in mind that the “ex-CIA agent” that appeared on Fox dozens of times as a talking head took advantage of the fact that the agency will never confirm or deny… But of course he was exposed as a complete fraud by some real ex-CIA agents including a former Assistant Director. Fox has hired gun entertainers, not that others don’t as well but please… November 30, 2017 3:12 PM Log in to Reply Noway2016 You know, go listen to my link regarding Rivera. Midler said he and a producer used two “poppers” on her – then groped her. Poppers?! Last generation’s version of a “date rape drug”?!?!!? Good Lord!! Is anybody but me raising tee-total hell about THAT?!?! November 30, 2017 4:46 PM Noway2016 Don’t remember Rivera ever using a CIA angle to boost himself but I’m not surprised. November 30, 2017 4:52 PM chefdavid This don’t look so doom and gloom to me. All the demoncrat fear mongering. http://taxplancalculator.com/ November 30, 2017 3:10 PM Log in to Reply Andrew C. Pope What isn’t conveyed on that website: – Both proposals would cut $25 billion from Medicare annually. – Both proposals would cut Medicaid enrollment by 5 million. – The tax plan would take health insurance away from 13 million Americans by 2027. 4 million Americans would lose insurance by 2019. – The tax plan would also raise health insurance premiums by 10%. – Individual cuts expire at the end of 2025, but the change in the inflation measure used to adjust tax brackets is permanent. That means a massive tax increase for Americans not rich enough to own a bunch of stocks. – 61.8% of the tax cuts go to the top 1% in 2027. That’s an average tax cut of $32,510. The top 0.1% (those making > $5.1 million per year) would get an average tax cut of $208,060. – The Joint Committee on Taxation estimates the bill would cost more than $1.4 trillion. The Committee for Responsible Federal Budget estimates that it would cost $2.2 trillion over 10 years if everything is made permanent. – Unlike the individual cuts, the estate tax repeal and the corporate tax cuts don’t expire, telling you all you need to know about who these cuts are for. – The vast majority of economists with functional brain cells agree that this tax plan is a disaster that won’t deliver the economic growth promised by Ryan, Trump, et al and, according to some, will actually hurt economic growth due to the massive increase in the deficit. *The individual cuts are political cover for massive, permanent tax cuts to corporations and the wealthiest Americans. The windfall from those corporate taxes is going to go right into stock buybacks, disproportionately benefiting the wealthy even more (something we already saw happen in 2004). The estate tax is the biggest handout of all, because apparently Don. Jr. is a hapless, drool-soaked moron that can’t survive off the first $11,000,000 he stands to inherit tax free. November 30, 2017 3:27 PM Log in to Reply Ellynn I ran my numbers through the system. The House bill leaves me paying $29 more. The Senate bill. – I pay $314 more. I have a high itemized deductible of medical bills, mostly some expensive drugs and lab work I will lose. They will no longer be covered. November 30, 2017 4:53 PM Log in to Reply Andrew C. Pope Also, the calculator reported that “you are not impacted by the elimination of state and local deductions.” I got the same result no matter where I listed my residency: Georgia, Florida, California, New York. Seeing as eliminating the SALT deduction is a MAJOR part of the tax plan, seems like they should actually put that in the calculator. Without it, the numbers are, as the President would say, “fake news.” November 30, 2017 4:58 PM Log in to Reply Andrew C. Pope Non-partisan JCT report on the Senate tax bill has been released… Will add $1 TRILLION to the debt, even after accounting for economic growth. David Perdue and his Louis Vuitton jean jacket are hereby banned from ever hand wringing over the national debt. November 30, 2017 3:35 PM Log in to Reply Andrew C. Pope John Cornyn (who does not have a PhD in economics or a microsimulation model): thinks the JCT score is “clearly wrong” and that growth projections are too conservative. Again, Cornyn, a man who is not an economist, doubting the work of a team of some of the nation’s best economists because they revealed the hard truth about this tax bill. November 30, 2017 5:15 PM Log in to Reply Ellynn If the Sectary of the Treasury was quoting figures from a report that did not even exist, what would the GOP do? https://www.axios.com/steve-mnuchin-tax-plan-analysis-doesnt-exist-2513789546.html?utm_medium=linkshare&utm_campaign=organic November 30, 2017 4:24 PM Log in to Reply Andrew C. Pope Asked whether Senators would know what’s in the bill before they vote: John Cornyn: “That’s a luxury we don’t have.” Asked whether Senators will let the public know what’s in the bill before they vote: Bob Corker: “I don’t want to state where we are or what we’re doing.” I mentioned this way back during the healthcare debate… If you’re scared to tell the American people what’s in the bill. That’s a pretty big indication that you’re crafting legislation that is going to wind up hurting them. Cornyn isn’t stupid. Hatch isn’t stupid. They know full well that this bill is designed to benefit wealthy campaign donors, foreign investors, the idle rich, and large corporations at the expense of the American middle class. That’s why they’re employing economic growth numbers that sound like they came from a guy huffing paint. That’s why they don’t want to wait for a score from the JCT. That’s why they continue to peddle falsehood after falsehood after falsehood. This is a shameful way to legislate. November 30, 2017 4:43 PM Log in to Reply xdog Cornyn’s whipping. That’s his job. Hewing to the norms of legislation isn’t the goal. The main task is to get a flag to wave in next year’s campaign. November 30, 2017 5:32 PM Log in to Reply Add a Comment Cancel replyYou must be logged in to post a comment.