New Jersey Democrat Lisa McCormick says President Trump’s budget proposal would bury the U.S. in debt, he makes no effort to fulfill the pledge to generate $1 trillion for restoring America’s sagging infrastructure and by trading defense spending for deep cuts in domestic programs, it immediately endangers the quality of life for most Americans.
Trump’s first budget as president would increase the debt by more than $3 trillion—but only through unrealistic assumptions about economic growth and double-counting of tax revenue. In reality, economists believe economic growth is not going to improve just because we cut taxes on the rich. It has not worked the last four times and it will not work now.
Trump would lower spending in Health and Human Services ($15.1 billion), State Department ($10.1 billion), and Education ($9.0 billion), not to mention the foolhardy one-third decline in EPA spending. Those ‘savings’ are going to mean more disease and suffering, more war and strife and less educated and trained citizens contributing to our national prosperity because an ounce of prevention is worth a pound of cure.
There is no transparency and accountability in this administration but there is clearly a lack of respect and understanding about what our government does, because cutting spending does not always save money and spending more does not always get better results but spending more than you have always puts you in a hole.
Complexity is lost on this administration, which means voters have got to get smarter.
New Jersey Democrat Lisa McCormick praised the US Deputy Attorney General Rod J. Rosenstein for appointing former FBI Director Robert S. Mueller III to serve as special prosecutor to oversee the investigation of Russian efforts to influence the 2016 election, any collusion by the GOP presidential campaign and President Donald Trump’s subsequent actions.
“President Donald Trump’s decision to fire the FBI director investigating Russian involvement with the 2016 presidential election does not just make him look guilty, because obstruction of justice is itself a crime,” said Lisa McCormick, a New Jersey Democrat who recently sponsored an online petition demanding the appointment of a special prosecutor. “This is our opportunity to get the answers we need for a functioning democracy because no one is above the law in America, no matter who they are or how much money they have, and that goes for the President, too.”
Booking agents may arrange interviews with Lisa McCormick by calling 774-338-4630
“Cutting environmental protection is like surrendering to an attack on the lives, health and safety of our citizens,” said Lisa McCormick, a Democratic activist. “If a foreign country polluted our air or water, jeopardizing the lives of innocent Americans, Republicans like Chris Christie would be screaming for war but when corporate polluters spread cancer among our kids, these GOP politicians push tax breaks instead.”
“There is no way to justify a 30 percent reduction in environmental protection while we have lax enforcement of laws designed to protect our land, air and water,” said McCormick. “Some issues still facing New Jersey are sewer overflows, unhealthy air quality, polluted waterways, and cleaning up the legacy of toxic waste dumps. New Jersey’s environmental problems are well-known, but Christie shows no concern for these dangers because he does not care about our children and taxpayers who are at risk.”
McCormick was not alone in faulting the Republican spending plan for its environmental weakness.
“Every year, the Governor’s priorities in the budget are wrong; he gives tax cuts to corporations and budget cuts to important environmental programs,” said Jeff Tittel, of the Sierra Club. “This year he has continued to cut more DEP staff and programs, while rolling back environmental protections.”
“Commissioner Martin is trying to put a good face on the department where staff is down, morale is low, and the remaining staff left are spending all of their time rolling back environmental protections,” said Tittel. “What he is doing is trying to justify the unjustifiable and defend the indefensible.”
“Claims that government regulations hold back the economy ignore the roots of our real problems, such as the collapse of the housing market, the financial crash and inadequate demand,” said McCormick. “Our economy was booming when America had high taxes rates on the wealthy and corporations, effective regulation to protect consumers and the environment, investment in infrastructure and our people, combined with strong unions to insure fair wages and increasing benefits.”
“Our economy cannot function without a healthy environment,” said McCormick. “It is short-sighted to ignore life-threatening dangers to save a few dollars. Big tax cuts for the wealthy and shifting burdens from the rich to the poor are terrible injustices that have become all too common. Chris Christie is to blame.”
Goldman Sachs billionaire Philip D. Murphy has corporate connections that make him unqualified to lead in government, according to a vocal critic who charged that his campaign for governor would be “a hostile Wall Street takeover of the Democratic Party and New Jersey” because he invested in corporations that stashed profits in offshore accounts so they could pay no taxes.
“I am very disturbed by the stock selections in which this greedy billionaire has invested,” said Murphy detractor Lisa McCormick. “Tobacco companies, polluters, ‘too big to fail’ banks, military contractors, and companies that are known for cheating workers and robbing taxpayer subsidies, such as Walmart, make up a large part of Phil Murphy’s stock portfolio and it reflects shameful greed.”
“Perhaps most alarming, greedy Phil Murphy owns stock in 15 of the 18 profitable tax-dodging corporations that paid no federal income tax at all from 2008 to 2015,” said McCormick. “The same greedy corporations President Donald Trump wants to reward for evading their responsibility to pay taxes and paying dividends to Phil Murphy. He owns stock in many of the 258 corporations that paid no federal income tax in one or more years despite showing big profits.”
“Phil Murphy invested in profitable corporations that paid no taxes,” said McCormick. “These tax-dodging corporations stashed about $2½ trillion in overseas accounts so they can cheat everyone else in America. Understand that a trillion is a million times a million, so we are talking about a lot of money and Phil Murphy, as a former Goldman Sachs partner and top level Wall Street executive, he knows they are putting profits ahead of patriotism.”
McCormick said a financial disclosure statement filed with the Election Law enforcement Commission reveals hundreds of companies in which Murphy has stock holdings.
Also, McCormick said corporate tax cheaters, billionaires buying elections and the resulting economic inequality that is distressing so many Americans demands a cure that is not going to come from someone among the richest one-percent of the population.
“The time has come to consider new, bold ways to make our economy work again for all Americans. In a time of immense wealth, no one should live in poverty, nor should the middle class be consigned to a future of permanent stagnation or anxiety,” said McCormick, who is supporting Senator Raymond Lesniak for the Democratic nomination. “Handing power to a greedy Wall Street billionaire is not going to accomplish the economic justice for which Americans are starving, no matter what poll-tested rhetoric he utters in expensive TV commercials.”
“There are some wonderful investment opportunities in socially conscious businesses, but greedy Phil Murphy did not put his money where his mouth is, he bought stock in companies that have shafted working Americans and decimated this nation’s middle-class,” said McCormick.
Phil Murphy owns stock in 15 of the 18 profitable global corporations that paid no federal income tax at all from 2008 to 2015! Tax dodging corporations make Murphy rich, so we know he does not care about you. He does not ‘have your back’ but he does have your money!
Donald Trump’s tax plan is designed to shift wealth from the working middle class to the richest and most privileged people in our population. Like Robin Hood in reverse, he wants to steal from the poor and give to the rich. Phil Murphy is the beneficiary of that scheme. There is nobody less suited to lead New Jersey in a time when the rich and powerful have exploited their position and taken advantage of everybody else.
For almost 40 years, working middle class Americans have been victims of a class war. We must fight back.
Some of today’s grandparents and great-grandparents were born during the Great Depression, lived through World War II, witnessed the rise and fall of both fascism and communism, fought in Korea and Vietnam, marched with Martin Luther King, Jr., and watched the first man walk on the Moon. Now, they surf the Internet and share family photos on phones that connect them to a world that is richer and freer than the one into which they were born.
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Democrat Lisa McCormick issued the following statement in response to the National Security Agency’s (NSA) announcement that it will stop collecting Americans’ Internet communications that may include mentions of a foreign intelligence target. The announcement marks a break in years of NSA policy to collect email, texts, and other Internet communication that merely mention identifying terms for foreign targets, but are not to or from those targets, also known as “about” surveillance.
I am glad to hear the Fourth Amendment protections against unwarranted searches will be restored, at least in part, with this long overdue announcement. The unconstitutional invasion of our privacy never protected national security, but it made us less free or fearful of sharing our personal secrets with people we trust.
The National Security Agency is no longer collecting Americans’ emails or texts exchanged with people overseas that simply mention foreigners the agency is spying on, unless the messages are to or from those specific intelligence targets. This is a step in the right direction but America must learn to think differently.
The NSA’s mass surveillance program invaded millions of Americans’ telephone records, snooped on emails, and peaked at private pictures but there was no real legal foundation for it and it wasn’t stopping terrorism.
A strong national defense is only part of our government’s responsibility to protect civil liberties, ensure justice and promote the general prosperity and equality of our people. More and more, we live in a global society and it is time to understand that only by advancing human rights for everyone may we achieve peace and freedom.
Losing sight of that fact created many of our problems. Terrorism is a crime that only works when we give in to fear. The idea that foreign terrorists pose a grave threat to Americans is false. Ordinary crime, preventable illness and predictable accidents are more common dangers to most of us than any far away threat.
Military and foreign policy experts say President Trump’s efforts to prohibit people from seven majority-Muslim nations actually worsens the threat of terrorism because it sows discord among the 220 million people who live in those nations and throughout the international community. Clearly, President Obama’s drone strikes have inspired more antipathy toward Americans from our brothers and sisters around the world. President Bush unleashed chaos and cultivated hatred not only toward the West but among various sects within Islam, who have devolved into a massive religious civil war.
I want to congratulate Edward Snowden, who revealed that the massive scale of the government’s spying operations far exceeded what is legal. On Twitter, Snowden said, ‘People said speaking up isn’t worth the risk. Today, we can see they were wrong. Blow the whistle, change the world.’ I hope this victory inspires more people to have the courage to try changing the world. I also urge President Trump to pardon the courageous American patriot who made this progress possible.
Quite frankly, very few Americans have died from terrorist attacks and we should no longer live in fear or let our policies be guided by blind panic. We should stop killing people in far away places. We should stop foolishly wasting money. We should stop spying on innocent people. We should abandon silly ideas about building a wall and adopt immigration reforms to secure our borders, establish a path to citizenship for undocumented aliens who live here and restore our status as a beacon of freedom.
According to a September 2016 study by Alex Nowrasteh at the Cato Institute, 3,024 Americans died from 1975 through 2015 due to foreign-born terrorism, and almost all of them were victims in the 9/11 attacks by al Qaeda agents perpetrated on September 11, 2001.
Instead of rewarding companies that stashed money in overseas tax havens, Lisa McCormick says Congress should enact the Corporate Tax Dodging Prevention Act, which would close loopholes by taxing the $2.4 trillion that American corporations currently hold offshore at the full corporate tax rate of 35 percent.
McCormick says Republican President Donald Trump put forward a tax plan that would cut the corporate tax rate by more than half, but she calls that a bad idea because it rewards companies for cheating taxpayers by evading their responsibility to share the cost of our government.
“The Institute on Taxation and Economic Policy (ITEP) examined federal income taxes paid or not paid by 258 of America’s largest and most profitable corporations in the eight years between 2008 and 2015 — and learned those companies reported total pretax U.S. profits of more than $3.8 trillion,” McCormick said. “During that time, corporate taxes funded just 10 percent of our government. The economy was booming and growing at an annual average rate of 3.9 percent between 1950 and 1960, when the corporate tax rate was over 50 percent and those business taxes provided 28 percent of our government revenue.”
While the federal corporate tax law ostensibly requires big corporations to pay a 35 percent corporate income tax rate, the 258 corporations in the ITEP study paid on average slightly more than half that amount, or 21.2 percent over the 2008 to 2015 period.
Many companies paid far less, including 18 that paid nothing in federal corporate income taxes at all over the entire eight-year period, at least 15 of which are in the stocks that paid dividends to Wall Street billionaire Phil Murphy, a former Goldman Sachs executive who McCormick says is trying to buy the Democratic nomination for governor.
McCormick says Murphy, who would be a big beneficiary from Trump tax cuts, profits off corporate tax dodgers and that makes him unfit to be governor and unworthy of Democratic Party support.
The Institute on Taxation and Economic Policy released a report in March showing that 100 large, profitable corporations paid zero or less in federal income taxes at least once in the last eight years.
Eighteen corporations, including General Electric, International Paper, Priceline.com and PG&E, received tax refunds from the IRS on their combined profits from 2008 to 2015.
The study also found that 48 corporations paid an effective tax rate of less than 10 percent over that period. On average, large, profitable corporations in the United States paid an effective federal income tax rate of 21.2 percent over the eight-year period, slightly over half than the statutory 35 percent tax rate.
Citing that evidence showing many profitable corporations evade paying any U.S. income taxes, Sens. Bernie Sanders (I-Vt.) and Brian Schatz (D-Hawaii) introduced a bill to eliminate tax breaks encouraging corporations to shift jobs and profits offshore. Rep. Jan Schakowsky (D-Ill.) introduced a companion bill in the House.
“Here’s the simple truth. You can’t be an American company only when it benefits you. You also have to be an American company when it comes to paying your fair share of taxes,” Sanders said. “Instead of giving a $550 billion tax break to corporate tax dodgers as President Trump has proposed, our legislation will raise at least $1 trillion in new revenue over the next decade.”
“Every year, we give over $100 billion in tax breaks to multinational corporations that send profits and jobs overseas,” said Schakowsky. “The Corporate Tax Dodging Prevention Act closes those loopholes and makes multinational corporations pay the taxes they already owe on offshore profits. I am proud to join Sens. Sanders and Schatz in our effort to make our tax code fairer and generate much-needed revenue to invest in priorities for America’s working families.”
“The Sanders-Schatz-Schakowsky legislation would stop letting American corporations avoid paying U.S. taxes on profits they hold offshore, stashed in tax havens like Bermuda or the Cayman Islands,” said McCormick. “The bill would make several other reforms, including a ban on American corporations pretending to be foreign companies for tax purposes or using other deceptions to justify an offshore tax haven.”
“Abuse of offshore tax havens is one reason why American corporations today pay far less than the 35 percent tax rate that is supposed to apply to their profits,” said McCormick, who called Trump’s plan to ‘repatriate’ money from those corporate tax dodgers “a reward for cheating American workers who pat their taxes.”
McCormick said the legislation is supported by the AFL-CIO, Public Citizen, Americans for Tax Fairness, U.S. Public Interest Research Group, the American Federation of State, County and Municipal Employees (AFSCME), the Institute on Taxation and Economic Policy and several other organizations throughout the country.
President Trump is expected to unveil a plan on Wednesday to rob the poor & give to the rich. Democrat Lisa McCormick released this statement:
President Trump is expected to unveil a new tax plan on Wednesday proposing to slash the top corporate rate from 35% to 15%, possibly coupled with a repeal of the corporate Alternative Minimum Tax or an even lower rate to reward corporate tax dodgers who stashed money in overseas tax havens instead of paying their fair share in taxes.
Even congressional Republicans who are eager to cut corporate taxes do not want to add to the country’s almost $20 trillion debt. A 15% corporate rate could drive up deficits by a lot.
The Tax Policy Center estimated that Trump’s 15% proposal could reduce revenue by $2.4 trillion to nearly $4 trillion in the first decade, depending on whether Trump extends the 15% rate to so-called pass-through businesses, which include everything from small mom-and-pop shops on Main Street to giant law firms and hedge fund investment partnerships that pay a top rate of 39.6% today.
Trump is also talking about increasing military spending by $54 billion a year and building a border wall, so we are looking at more debt, severe program cuts and higher taxes on middle class workers and every combination of those three hurts America. These are reckless actions that will hurt the economy.
Corporate income taxes make up about 11 percent of federal revenue, compared to 39.8 percent in 1943, and 32.1 percent in 1952.
Capitalism is an economic system that creates winners and losers, but most of the world’s population are losers. Right now, fewer than ten men own more wealth than the 360 billion poorest people who comprise half of the world’s population. Corporate income taxes are too low and cutting them will make more working families losers, so it is the opposite of making America great.
Trump does not care about real Americans, or any human beings outside his family or field of vision. Donald Trump is a tone-deaf billionaire who does not care about the people who have been robbed & cheated by a political & economic system rigged to make you lose. It is time for us to start fighting back.
The nation’s first congressional election since President Donald Trump’s victory is taking place Tuesday for a seat Republicans have held for two decades in a south-central Kansas district Trump carried with 60 percent of the vote, but a New Jersey activists can influence to race to send a message of resistance.
Lisa McCormick has sounded a clarion call for citizens to “fight for America” by helping elect James Thompson, a Democrat who is hoping for an upset in the Kansas special election on Tuesday to choose a replacement for Republican Representative Mike Pompeo, who was selected to run the CIA.
“James Thompson is calling campaign his for Congress the ‘fight for America’ and he is attracting volunteers from all over the country to help making phone calls and sending donations, so I am calling on our network of Bernie Sanders supporters, angry women and bold progressives to take action,” said McCormick, who urged her followers to dial up Kansas voters.
For the past three months, Thompson has been making the rounds at the radio stations, town halls, meet-and-greets, and debates 12 to 15 hour long days in an attempt to win one of the most solidly conservative congressional districts in the country.
The Wichita civil rights attorney is running for Congress because he knows the opportunities that afforded him opportunities to change his life, are not available to everybody these days because of Republican trickle-down economics in Washington, Sam Brownback’s failed policies in Kansas and politicians who don’t listen to the people or pay attention to facts.
“Our key focus should be developing an atmosphere where high-paying, non-exportable jobs can flourish,” said Thompson. “Education is truly the key to erasing poverty and everyone knows it, so we need to fully fund our schools while making higher education inexpensive and accessible.”
“Our brave men and women in uniform make tremendous sacrifices,” said the candidate, who believes a stint in the U.S. Army changed his life. “It’s an outrage that we allow D.C. to ignore our veterans and their families while insiders cut their benefits, scale back services and pass the buck.”