When JPMorgan Chase and Wells Fargo are happy, we all should be scared.
In other words, banks are free to go back to swindling the people out of their hard-earned money, making their CEOs richer, etc. Pure greed.
This Republican tax bill is straight out of the playbook of 1929 all over again and for you who lived through the great depression, you should be very, very afraid. The crash followed a decade of Republican control of the federal government during which trickle-down policies, including massive tax cuts for the rich, produced the greatest concentration of wealth in the bank accounts of the richest 0.01 percent at any time between WW1 and 2007. When trickle-down economics, tax cuts for the very rich, and deregulation of virtually everything resulted in another economic collapse. We’ve seen this “dog and pony show” before and it has always resulted in economic catastrophe and no doubt will once again. Remember this when you vote in 2018 and again in 2020 or we will all live to regret it. The truth is that corporations have enjoyed record profits for their stockholders and themselves despite the so called disparity in corporate taxes but have refused to pass any of this wealth down to their employees or create jobs. This trickle-down plan has never worked and never will and always leaves poverty and economic disaster behind it and this is a Republican tax scam of the highest order. All this while this so called “fiscally responsible conservative party” reportedly adds 1.5 trillion dollars to our national debt. This temporary infusion of borrowed cash into the economy will result in artificially generated growth and a flurry on Wall Street but when it runs out, the economy will crash as it always has under this often disproved philosophy. Even Ronald Reagan’s OMB Director, David Stockman said after leaving office: “Trickle down economics is what I call “Voodoo Economics.” The harm it will do to our national debt and economy will be disastrous, not to mention what it will do to people’s health care, Social Security, Medicare and other programs that America’s middle class and poor families count on to survive. Now that the Republicans have gotten their tax breaks for their rich friends and corporate supporters, their next move will be to claim that we cannot afford what they call the “Entitlements” such as Social Security, Medicare and Medicaid and they will be cutting these programs and seeking to eliminate them. When that is done, their attack on America’s poor and middle class will be complete. If you are a Senior Citizen, someone who has health problems or have children with health problems, someone who is retired and depends on Social Security and/or Medicare, you should not only be very afraid, you should be ALARMED. If not, and you fail to support a change in the House and Senate in 2018 and 2020, you are going to be very, very sorry.
And the wage gap grows wider and wider. Since the Republicons and their empty vessel of a host, Trump is so kind handing banks obscene tax cuts; maybe, now maybe, dummy Donnie doesn't have to get his fraudulent money laundering funds from Russia or Deutsch sanctioned banks any longer - American banks can now do business with the Drumpf as their appreciation for scapegoating the Middle Class once again,
Still waiting for the trickle down effect
165 million people in this country receive government benefits, over half the country. The gap between the rich and the poor gets wider and wider.
"JPMorgan executives say they expect to pass along some of the benefits, currently in unnamed ways, to consumers, its employees and its shareholders".The key word here is "some". Of course MOST of the benefits will probably go to the executives.
What’s not for billionaires to like in the Republican tax scam?
Oh boy we are all gonna be rich can't wait for those trickle down bucks to come rolling in! Bwhahahahahahahahaha! What a grand scam! Now genius how are you gonna pay down the huge debt problem you've created? And why has Moody's and the IMF been so quiet during this whole grand slam scam? Not a word about lowering the US credit rating! Gee do you think they are racists too?
They won't stick us with a lower rating until Bernie Sanders is in the Oval Office.
Of course THEY love it. It's one of the biggest thefts for the benefit of the obscenely rich in history. Of the rich, by the rich and for the rich. They say they're going to pass the savings on to consumers in "unnamed ways." Will they get rid of some of their ridiculous fees or improve their stingy rates? Ahaha, don't hold your breath! Just have blind faith that something will eventually trickle down to you indirectly somehow. This is political corruption at its swampiest!
Wall Street will become incredibility rich in the next 3 yrs. The unfairness of it all is mind numbing. Trump in his sorry jealous obsession to undo every Obama rule and law, has lifted all restrictions on Wall Street. If Wall Steet runs thru with your money, you have no recourse. If your bank says "Sorry, we dont have your money, "youre out of luck. You are squirrel poop with your money right now, because you cant afford the lawyers the banks can. Sorry for all of us.
Who's surprised? Shysters and thieves roll like that!
Well at least these new tax cuts are helping those who paid off the Republican politicians for it... <rolls-eyes>
Just what this country needs,....more money for bank executives!
Lol! Wells Fargo saw increased business last year... until it was found that the increase was the result of Wells Fargo opening bank accounts without getting consent from the people they opened them for.
When you commit fraud, you always see an increase in business... until you’re caught. In this case, Wells Fargo came out with a net gain, because they weren’t fined what they should have been. When corporations like this make a profit from these schemes, they continue to scheme. It wouldn’t shock me to see Wells Fargo getting nailed for this again next year.
In short: nobody’s doing business with Wells Fargo.
These bankers are vultures. They set off the 2008 economic disaster with their greed and ended up being bailed out by the government. Now they can reap billions of dollars while the US accrues a 1.5 trillion dollar deficit and how does this benefit America? IT DOESN'T. Banks manufacture NOTHING. Now, thanks to the new tax law, they can make billions more and STILL DO NOTHING for the country.
Well, there's a shocker for ya! Thieves!!!
Yea, these are you peeps, Murica. Right? Just what you voted for, right?
It's bad enough that they are going to be rolling in the dough, but do they have to brag about it in front of those who are going to be paying for that dough?
Well isn't that wonderful, and with the Consumer Protection Board on its way to oblivion they can once again start charging all those fees on credit card debt and opening all those bogus accounts without any fear of getting caught. The boys are going to have a great Christmas this year
My portfolio and I have been singing praises to the Trump administration ever since he was elected.
And their wallets too.
Aren't these the same folks that were 'too big to let fail' and had to be 'bailed out'.
Gee, bank executives say they now have ANOTHER license to steal. Great.