News Burst: April 26, 2017
Added 2017-04-27 03:04:26 +0000 UTC
Hey Fam-a-lam,
I hope you’re all well! Sorry this one is a little late (and perhaps a bit short, though that's simply because there's not an incredible amount going on since yesterday). I’ve been editing tomorrow’s video and getting it all ready for publish. It’s a doozy, if I do say so myself!
There’s not much else to report. Packing is going well (you may have seen some of my nostalgic posts on Twitter or Instagram), and we’re really excited to make the move, and get the hell out of this place!
Alright, enough about me. Let’s get to it.
Are We About to Go to War?: http://freebeacon.com/national-security/senators-told-north-korea-nuclear-threat-urgent/
My Take: When I first started seeing this hullabaloo circulating this morning, I didn’t think all that much of it. Some folks were talking a big game about what’s going on with North Korea, but this sort of bluster has been going on for years now. It’s hard to take it all seriously, especially because we perpetually seem both “at the brink” with them, and simultaneously “completely fine,” all at once.
But maybe it’s more serious than that. Senators reportedly went to the White House today to hear about the situation with North Korea, which is incredibly unusual. The Free Beacon’s source notes that the discussion surrounded “an urgent national security threat,” and that the meeting was about an hour long in length.
What will come of this? It’s unclear. Economic sanctions, according to the story, are the administration’s likely next step. After that? Nuclear war. (Only kidding.) As usual, we’ll have to wait and see. The meeting was described as “very consequential.” Things are coming to a head, kiddos.
Associated Story: Kim Prepares For War (http://www.dailymail.co.uk/news/article-4447140/Kim-Jong-army-fires-rockets-mock-enemy-warships.html)
The Trump Tax Overhaul Looks (Kinda) Like This: https://www.washingtonpost.com/business/economy/trump-to-unveil-proposal-for-massive-tax-cut/2017/04/26/2097fe42-2a94-11e7-be51-b3fc6ff7faee_story.html?utm_term=.d06a32ce951d
My Take: Today, the Trump administration -- led by Secretary of the Treasury Steven Mnuchin and National Economic Council Director Gary Cohn -- finally announced some (very limited) details on their planned overhaul of the tax system. And frankly, some of it sounds good, while other parts of the plans (and rumored parts of the plan) don’t sound as hot.
For starters, the corporate tax rate would be cut from 35% to 15%, which is huge for companies big and small. Additionally -- and most appealing -- the top individual income tax bracket would be 35% at the federal level, and the number of brackets would go from seven to three, which goes a long way towards flattening the income tax, something lots of people (like me) want, and think is the fairest way forward.
“The goal,” according to this article, “[is] to cut taxes so much and so fast that it [leads] to immediate economic growth, creating more jobs and producing trillions of dollars in new revenue and wealth over the next decade.” Sounds awesome to me. I’m just waiting to hear more plans on how we’ll pay our bills with lower taxes, because that’s super important to me (and to many others). I’m also hoping the rumored 401(k) tax isn’t real…
Ann Coulter’s Berkeley Speech is Cancelled: http://news.trust.org/item/20170426165332-ncuz8
My Take: This is totally ridiculous. Coulter’s short statement on the matter, written to Reuters, reads: “There will be no speech. I looked over my shoulder and my allies had joined the other team.” Mysterious, indeed.
A related (and heartening) story, linked below, has the ACLU, of all organizations, coming out in defense of Coulter, which is great to see, and represents a rare (albeit not unprecedented) show of solidarity across political lines from the famously hyper-liberal organization. In a series of Tweets, the ACLU came out in defense of Coulter and in condemnation of the university and the furor (and the bullies) that got us to this point to begin with.
Word is folks will still be speaking at Berkeley tomorrow, so I’ll be keeping an eye out. Still, the one major draw that day was Coulter, and she’s no longer participating. And it’s a shame to see. I hope tomorrow doesn’t turn violent, because that would be truly, truly disappointing to see.
Associated Story: The ACLU Defends Coulter (http://thehill.com/homenews/news/330776-aclu-defends-coulter-we-must-protect-speech)
Trump’s Ready to Destroy NAFTA: http://www.huffingtonpost.com/entry/naft-quit-trump_us_5900d5c0e4b081a5c0f9ff72?ncid=inblnkushpmg00000009
My Take: It looks like Donald Trump is considering literally pulling us out of NAFTA, at least if rumors of a potential executive order are true. This coincides with a couple of recent news items I’ve written here on Patreon regarding Canadian trade and tariffs in particular, and, unlike those stories, will also hit one of the actual ires of Trump’s trade initiatives: Mexico.
Trump can apparently do this unilaterally, and it could be a mere gesture, a sort of gun to the head of Canada and (especially) Mexico to come to the table and renegotiate a better plan for America. I suppose there’s not much else to say, other than that NAFTA has had many, many opponents (and seemingly few advocates) since it was passed some 23 years ago.
I won’t lie: I fully support this move. NAFTA is completely unfair to the American worker, and while I don’t blame Canada for this, per se -- Canada’s living standards and pay are up to par with the US, and therefore there’s more parity there -- Mexico has gotten a wildly advantageous deal. Something should (and looks like finally will) be done about it. A new pact should be signed that takes into account the realities of the 21st century economy, and what it’s done to the American working class.
Associated Story: Mexican legislature possibly exploring an “entry fee” for American visitors as retaliation for the building-of-a-wall possibility (http://www.foxnews.com/world/2017/04/26/miffed-over-border-wall-talk-top-mexican-official-floats-american-entry-fee.html)
Inside the Health Care Bill Revival: http://www.politico.com/story/2017/04/26/trump-obamacare-repeal-replace-237654
My Take: I’m going to simply encourage you to read this one. It’s a great story. <3
Comments
The News Bursts are awesome!! I usually have little time to take in the news beyond Twitter, so getting this amalgamation of important headlines is fantastic and hugely helpful for me to keep up on things. Getting your take on it really helps me see all sides of the issues as well. Keep up the great job!
Bryan Finck
2017-04-30 16:29:30 +0000 UTCI'm pleased you're enjoying the News Bursts!
Colin Moriarty
2017-04-28 03:50:41 +0000 UTCI love "insider" pieces like that.
Colin Moriarty
2017-04-28 03:50:27 +0000 UTCYou're very welcome. Thank you for supporting the hard work!
Colin Moriarty
2017-04-28 03:50:19 +0000 UTCI forget once in a while... but I remember usually. =)
Colin Moriarty
2017-04-28 03:50:03 +0000 UTCIt may, if it's a necessary, revenue-driving measure to get effective and immediate tax cuts. I certainly wouldn't want to see it happen, though. It's completely antithetical to the entire idea of a 401(k).
Colin Moriarty
2017-04-28 03:49:49 +0000 UTCThanks for reading!
Colin Moriarty
2017-04-28 03:49:01 +0000 UTCI'd honestly argue, to Trump's credit, that protectionism is an unpopular stance with lots and lots of corporations, and really only finds its supporters among the working class. I think protectionism is the right thing to do, but it needs to be executed on a country-by-country and industry-by-industry basis, and our "friends" should get the benefit of the doubt (like, say, Canada, who isn't even remotely responsible for our trade imbalance or the situation our blue collar workers currently find themselves in).
Colin Moriarty
2017-04-28 03:48:45 +0000 UTCI'm glad to hear you're enjoying them. I like writing them a few times a week! Keeps me engaged even when I'm very busy.
Colin Moriarty
2017-04-28 03:45:52 +0000 UTCI wonder how much of this decision was done to force the next presidents down the line to dramatically decrease spending, especially since Trump likes to be well-regarded. I'm ultimately really worried about our debt as well, and like you I'm not sure anyone is willing to take the hit for it and be known as the lawmakers that took away from the military, healthcare/wealthcare/medicaid and public programs in order to control the spiraling debt.
Tigerbutt
2017-04-27 17:40:39 +0000 UTCI love these news briefings as well as the additional reading material that's sourced. The hour long private briefing to congress was interesting, it seemed to be more than just political theater (or maybe I'm just naive) to show NK and our allies that we're taking things seriously. Should economic or political pressure fail I hope that whatever comes next is quick, decisive and has as little harm to our allies in the region as possible (I know I know, naive).
Eric Gee
2017-04-27 15:45:07 +0000 UTCPolitico story was fascinating. Interesting to see Trump adjusting to the different kind of dealmaking you find in politics.
2017-04-27 12:49:36 +0000 UTCThanks for working so hard brother
2017-04-27 09:35:10 +0000 UTCSanctuary cities aren't what I thought they were <a href="https://youtu.be/XaR5kR8h4es" rel="nofollow noopener" target="_blank">https://youtu.be/XaR5kR8h4es</a>
GrisWold Diablo
2017-04-27 08:47:49 +0000 UTCIts very hard to support this tax plan and argue for decreasing the debt. Significant traction towards repaying back the debt is going to require massive cuts in social programs AND raising taxes. Current politcal environment discourages making hard choices required to make this happen. I believe this falls under a lot of problems now. We are making the comfortable decisions for the short term and punting the hard ones down the road.
Matthew Kohlman
2017-04-27 07:26:28 +0000 UTCMike, I'm aware of how our progressive tax system works. My total tax obligation would effectively increase if my yearly taxable income gets put in the higher tax bracket, since I would be affected by all three tax brackets. Unless there is a giant increase in the standard deduction I can take, more of my income will get taxed depending on where the dollar amounts fall for these new brackets. If that standard deduction increase holds true from his original plan, I MAY see a very modest decrease in my tax obligation, but not much. <a href="http://www.businessinsider.com/who-will-save-money-lose-trump-tax-plan-2017-2/" rel="nofollow noopener" target="_blank">http://www.businessinsider.com/who-will-save-money-lose-trump-tax-plan-2017-2/</a>#first-off-heres-a-quick-synopsis-of-some-of-the-main-changes-that-will-affect-people-1
2017-04-27 05:14:52 +0000 UTCNot read this yet but will like always. Was thrown off on the slight change to the formatting was really useful to have each topic bolded before without that it looks like one giant wall of information.
Jim Leggat
2017-04-27 04:20:18 +0000 UTCTrump just said tonight that he will not be pulling out of NAFTA. And that's a good thing. Free trade is literally the only thing economists from all sides can agree on.
Mike Smith
2017-04-27 03:59:30 +0000 UTCA 401k tax will never get through Congress. I'm not worried about that at all.
Mike Smith
2017-04-27 03:55:14 +0000 UTCThe Declaration refers to "the United States of America", so 1776 would be my answer.
Mike Smith
2017-04-27 03:51:46 +0000 UTCThat's not how a gradual income tax works. For example, let's say there are two tax brackets: 28% and 35%. Let's say the 35% bracket kicks in at 90,000. Let's assume you make 90,001. The way it would work is, you would pay 25% on 90,000 and 35% on one dollar.
Mike Smith
2017-04-27 03:49:10 +0000 UTCDude, the Ann Coulter thing is bullshit. "It might get dangerous, so we're pulling out." How about you do that when you have sex, you goons (I don't know where that came from)! The tax cuts me likey. The cut for corporations being a freelancer means that applies to me! Hopefully they benefit everybody, though, not just random chunks of people here and there. As for the healthcare, man, that's some sneakey shit they're pulling. Mikey Pence-Pence pulling some strings. Awesome job, Col!
Khalil Sadi
2017-04-27 03:43:18 +0000 UTCAs a Canadian I'm split about NAFTA, there's a lot good and bad, but I understand that Mexico has gotten most of the advantage. I'll be open to reevaluating it and making it fairer. I believe Trump wants to leave to mainly punish Mexico and at the same time bring all the parties back to the negotiating table. But let's remeber trade deals like this are rarely if never made in consideration with the population and most advantage goes to corporations.
GrisWold Diablo
2017-04-27 03:28:10 +0000 UTCBeing that I'm in the 28% tax bracket now, I'm really hoping this doesn't mean I'm gonna suddenly get bumped up to 35% in 2018/19. In regards to the corporate tax, that would be a welcome improvement, but only if there are specific and targeted efforts to get companies that have already moved their labor work offshore. A good amount of big companies pay 9% in taxes, so dropping it to 15% may not mean a hill of beans to them. In regards to Ann Coulter and Berkeley...Berkeley never cancelled the event, but this seems more on the fault of poor communication by YAF and to an extent, Berkeley's policies on setting up venues for speakers. Even though Coulter's a shitty, opportunistic human being, I would've given some modicum of respect to her if she actually showed up in Sproul Plaza knowing the risks. If you're true to your convictions, you don't let radicalism stop you. It's a little ironic that she bitched about Berkeley's reasonings for wanting to move the date, but now she won't show up for basically the same reasons.
2017-04-27 03:17:02 +0000 UTCColin, was the United States first officially the country we know today when we declared independence in 1776, or when we wrote the constitution and elected George Washington as President in 1789? Or would you consider an earlier time?
Dylan Manuszak
2017-04-27 03:09:07 +0000 UTCThe News Bursts provide tremendous value - thank you for making them a regular staple of the subscription.
Steven Camilo
2017-04-27 03:08:58 +0000 UTC