Seems that Donald Trump’s new tax law is keeping tax lawyers and CPAs just as busy as he is, as he surveys the world and how the world responds to him and his well-known penchant for fostering chaos as well as his even better-known proclivity for mendaciousness.
Passed with the utmost haste because Trump had, until today, been totally unable to claim any significant legislative victories, the legislation which had been originally denominated by House Speaker Paul Ryan as the Tax Cuts And Jobs Act, and known colloquially to many as the Trump Tax Cuts, finally made it out of Congress with a different title: “The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.”
Go figure.
But as NPR just as swiftly pointed out, individuals and pass-through entities like partnerships and S-corporations will receive about $1,125 billion in net benefits over 10 years, while corporations will receive approximately $320 billion in benefits (https://www.npr.org/2017/12/20/572157392/gop-poised-for-tax-victory-after-a-brief-delay; see also https://en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act_of_2017). The legislation is sure to increase our national deficit, which means that the Congressional Tea Party Republicans, all of whom voted for the law, get the prize for hypocrisy.
Trump cannot, however, make any claims with respect to his popularity at the United Nations.
After Trump, against all sensible advice, declared on December 6 that the United States recognizes Jerusalem as the capital of Israel (and, even worse, that the US will move its embassy from Tel Aviv to Jerusalem), the UN General Assembly yesterday passed a motion, 128 to 9, with 35 abstentions, to condemn Trump’s unilateral action.
And then future presidential candidate Nikki Haley, Trump’s ambassador to the UN, took great pleasure in announcing that those who voted for the resolution will come to regret it, especially when the time comes for the US to pay its share of dues.
So who voted against the resolution?
Guatemala, Honduras, Israel, Marshall Islands (population 53,158), Nauru (population 11,347), Palau (population 21,503), Togo, and the US.
Our chief international correspondent, associate solitary reporter Larry Theis, spoke with Haley immediately after her comments. She whispered in his ear, “Larry, you’re the first to know. Mr. Trump is always awash in cash, and he always retaliates against those who disrespect him.”
“Tomorrow, he will announce, together with Son-in-Law-in-Chief Jared Kushner, that he will purchase the United Nations.”
“This makes me very happy.”
Trump's Secretary of Commerce, billionaire Wilbur Ross, told associate solitary reporter Johanna Jones, “The UN is totally useless. Once he completes the purchase, he’s gonna turn that valuable property into his next Trump International Resort.”
“That’ll be the best use for that place."