Author: Patton Issy

Finance of Politics

Trump Promises Massive Tax Cuts and End to Inflation by Increasing Fossil Fuel Production

Donal Trump giving a speechAt the Republican Party’s convention in Milwaukee last Thursday, Donald Trump promised to lower taxes as well as revert to encouraging fossil fuel extraction. The forme US president still believes that the climate-related programs are scams. Apparently Trump believes that the only way to stop inflation tis by increasing the country’s production of fossil fuels, for which the Republican presidential nominee chanted “We drill, baby, dril.” Trump fueled the imagination of his supporters by telling them that the US has more liquid than any other country in the world.

He argued that focusing on fuel production will result in the lowering of energy prices, bring down all other costs not only of transportation but also manufacturing costs in order to reduce the cost of all household goods.

Concerns Have been Raised Over Trump’s Agenda if He Succeeds Winning a Second Term

climate related protestsTrump vows to put an end to the Democrats’ green projects, which he branded as a scam and a waste of taxpayer money that has been fueling the country’s inflation problem. As it is, the ex-president still do not perceive the worsening climate conditions and calamities as environmental problems that require critical and immediate solutions.

Trump’s invocation of new promises in his convention speech came after surviving last Saturday’s assasination attempt. He considers surviving the incident as as a sign of divine intervention so that he can perform his future role in uniting the American people as one great nation. A great part of this plan is focused on cracking down on illegal migrants and all migration activities at the Southern U.S. border.

Moreover, his proposals to lower taxes and provide economic relief by ordering massive tax cuts for workers are raising financial concerns. Based on the results of an analysis performed by the Tax Foundation, cutting taxes at a rate of 15% which is roughly about $673 billion, will greatly impact the country’s already large budget deficit.

Finance of Politics

Bipartisan Plans to Renew Tax Credits Despite Record High National Debt

Sgovernment fundingseveral legislators in Congress, coming from both political parties, are showing bipartisan support for new tax cut deals despite the country’s current record high national debt. Although the proposed legislation aims to help cash-strapped Americans and businesses, the bill is headed toward tough negotiations in the 2024 sessions.

In light of the first time, record-high $34 billion national debt faced by the federal government, it’s likely that house floor discussions will focus on fiscal responsibility over the reduction of deficit and debt to work out a more sustainable level of economic stability.

The proposed tax cuts will involve laws related to three Trump -era business tax reductions. These will be paired off with the Democratic proposal to return the pandemic-related American Rescue Plan Child Tax credit that ended in December 2022.

Trump-Era Tax Credits to Be Pushed for Renewal in the 2024 Congressional Sessions

tax creditsRepublican lawmakers are pushing for the revival of three expired or phased out business tax credits the party introduced via a 2017 GOP-sponsored law. Yet sources say that negotiations for their bipartisan  renewal will call for a broader set of provisions.
The first business tax credit being pushed for revival pertains to the outright expense of research and development costs in the tax year incurred.
After the lapse of this tax credit in 2022, recognition of research and development expenses reverted to the standard practice of amortizing the costs within a 5-year period.
The second tax deduction provision being pushed for renewal also ended in 2022. Previously, businesses were allowed to reduce their taxable revenue for the year by deducting in full the costs of short term investment. Some examples of short term investment costs are building construction costs, machinery and equipment acquisition costs, incurred in the same tax year. In 2023, business entities can only deduct up to 80% of the related costs.
The third tax credit included in the renewal proposal is the recognition of taxable earnings after deducting up to 30% of interests, taxes, depreciation and amortization. In 2022, the tax law reverted to the standard practice of basing taxes on EBITDA or earnings before the aforementioned expenses.
Comprehend that the greater the amount of deductions allowed the lower the income on which tax payment due for the year, will be calculated.

Finance

Hustlers University Online Learning Resources for Modern-Day Business Models

Hustlers UniversityIndia currencies is an online learning resource where individuals learn important actions to take to start a business and toward achieving financial success. Online programs present different business models recognized as modern-day opportunities for wealth creation such as ecommerce, affiliate marketing, stock investing, Cryptocurrency trading and crafting as well as selling of digital products.

Hustlers University gives access to more than 100 hours of video lectures of industry leaders who discovered and performed techniques that enabled them as seasoned professionals, to earn top-of-the-line compensation in performing direct and forthright tasks using efficient strategies of cultivating a dedicated customer base.

Hustlers University’s Potential Impact on India’s Real World Conditions

Hustlers University online course materials delve on popular beliefs and their applicability in the real world. Yet political conditions can influence income distribution in a country where policy makers support either wealth takers or wealth creators. India is predominantly an agrarian country where about 60 percent of the workforce are involved in agriculture, an industry comprising a mix of wealth makers and wealth takers.

The national government is known to support public policies formulated on the grounds of efficiency and ethics, instead of leaning on the adjudications of powerful interest groups through their lobbying efforts.

Historically, India’s national government has implemented a wide range of initiatives focused on infrastructural improvements and sustainable streamlining of business procedures especially in banking and financial services. The policies are all geared toward job creation in the manufacturing and services industries enhanced by digital transformations that improve efforts in building a strong foundation for the Indian economy

Still India’s progress in the real world can be affected by the decision makers and political leaders who pay greater attention to economic matters like equitable taxes, high median income. affordable cost of living and continuous job creation that work toward general prosperity.

Are the Online Courses of Hustlers University Relevant and Useful In India?

In India, there is good reason to believe that the prevalence of Indo-optimism in the country is founded on solid ground since global analysts already recognize the country’s great economic potential. Although India is still facing a lot of major challenges to hurdle, Goldman Sachs envisions that by 2075, India will be the world’s second largest economy.

India Business global analysesAccording to Reuters the country’s post pandemic economy in 2022 and 2023 grew by 7.2% after the government boosted capital investments. Yet the Reuters report also mentioned the fact that India is now the most populous nation in the world after overtaking China with a record of 1.4 billion people. The significance of which is that nearly 53% of that population are below 30 years old, and most of which are without jobs. As a result, tens of millions of jobless young people could end up dragging down India’s economy.

According to economist Jayati Ghosh, so many young educated Indians aren’t finding the jobs they need, which undermines the country’s chances of fueling economic growth. That is where Hustlers University in India can perform its role as a provider of guidance for modern wealth creation like ecommerce, freelancing and crypto trading.
The uniqueness of Hustlers University programs is that they do not just teach theories but also present strategies that helped industry leaders attain success in real business scenarios.

Finance of Politics

Comprehending the Significance Of the Bipartisan 2023 Debt Ceiling Bill

Last week, the upper House or the Senate passed the debt ceiling bill, which Republican lawmakers have vowed to block at the lower house. However, Republicans failed to do so as the bill passed the House of Representatives after garnering a total of 314 bipartisan votes, with only 117 GOP lawmakers voting against the bill.

Upon reaching the Senate, the bill that allows  Pres. Biden’s administration to borrow additional money to use in paying up its maturing obligations, passed the Senate House by garnering a total of 63 bipartisan votes vs. 17 opposition votes. Thereafter, the 2023 Debt Ceiling Bill was sent to the White House and subsequently approved last Friday by Pres. Joe Biden, who remarked:

“Senators from both Democratic and Republican parties voted for a bill that aims to prevent the US government from defaulting in its obligations, and to protect the hard-earned economic progress achieved by the country.”

What Exactly is a Debt Ceiling Bill

Fundamentally, Debt Ceiling refers to the maximum amount that an entity like a government can borrow, by issuing debenture bonds. A debenture bond is a debt instrument that enables an organization or corporation to borrow in the form of interest-bearing financial instrument without need to put up a collateral . The promise to pay is backed by a guarantee that no default will transpire once the obligation falls due.

In cases when an entity becomes bankrupt, holders of debenture bonds have first priority to receive settlement once the assets of the borrower have been liquidated.

It’s important therefore for the US government under Pres. Biden’s administration to raise funds that will see to the settlement of all maturing obligations. The need to raise the debt ceiling comes in light of the financial, economic and social challenges that the government had to hurdle and overcome after the global pandemic

The 2023 Debt Ceiling Bill is an act of Congress that suspend⁸s the current $31.4 trillion debt limit effective up to January 2025. The suspension allows the US government to raise money through the issuance of government bonds for unlimited amounts but enough to cover the country’s maturing obligations or debts. The passing of the bill ensures the avoidance of another Congressional squabble until after the next presidential administration is in place.

Yet the Debt Ceiling suspension remains to be tested by the new spending levels that Congress will approve for the government’s annual budget.

Politics

US House of Reps in Favor of Proposed Law Allowing Congressional Workers to Unionize

This week, the House of Representative voted in favor of a legislation that allows Congressional staff to organize unions so they can bargain collectively. The move is touted as the biggest expansion of congressional workers’ rights after 3 decades, and made amidst a growing number of grievances put forward by close to 10,000 staffers.

The House resolution codified the rights of congressional employees, including aides working in lawmakers’ personal offices, in district offices and committees, to unionize and bargain collectively. The resolution is actually an extension of the rights previously given to employees in other Legislative branches such as the Library of Congress, the Capitol Police and professional tour guides.

Resolution Came After Capitol Saw the Highest Number of Turnovers in 2021

The resolution was introduced in February 2022 by Democratic House Representative Andy Levin of Michigan, who remarked that:

”To say we are standing up for the rights of people is somewhat hollow if our own workers here at the Capitol, are not entitled to such rights and privileges.”

Reports have it that House leaders have been aware of the low pay and other grievances that have been driving staffers out of Congress. Apparently affected by the destabilizing effects of the pandemic, the year 2021 saw the highest number of congressional staff turnovers, resulting in brain drain. Capitol staffers have been burned out while serving vital roles amidst the constant political strife among House leaders and lawmakers, which was marked historically by the January 06 upheaval

Finance of Politics

Young Traders Use TikTok to Share Info about Stock Trading Activities of Prominent Politicians

About 67% of the American population believe lawmakers should be barred from investing in stocks, as they can be privy to information unavailable to the public. At present, a group of young traders have been tracking the trading activities and investment strategy of prominent politicians and sharing them via TikTok

Last year, a TikToker who goes by the account name @quicktrades shared with his followers information that House Speaker Nancy Pelosi’s husband invested $300,000 on the shares of International Media Acquisition Corp. (IMAQ) shares. The TikToker commented that the House Speaker was a psychic for having the confidence to invest a large sum on the company. .

Another TikTok user named Chris Josephs (@irisapp) released a video of how Pelosi’s husband purchased NVIDIA shares, a month before it was announced that the company’s chips would be utilized in the development of a supercomputer for the US government. Moreover, Josephs mentioned how Pelosi’s disclosed positions indicated increased trading of their initial investment by 20% to 30%.during the pandemic.

The TikTojers’ vigilance is drawing attention to how lawmakers are able to circumvent the STOCK Act passed by the Obama administration in 2012.

Why was the STOCK Act Legislated and Enacted

The STOCK Act, which stands for Stop Trading on Congressional Knowledge was passed by lawmakers to protect privileged information from being utilized in insider trading. The goal of the Act is to prevent the use of non-public information from being used by members of Congress and government employees, to their advantages Furthermore, the Act also stipulates that any trades accomplished by lawmakers or their relatives should be disclosed within a 45-day timeframe.

Former President Barack Obama had expressed hopes back then that the passing of the STOCK Act would help reduce the lack of trust between Washington, D.C., and the American people, Apparently, a lot of young traders are now convinced that the elite who are controlling the politicians, also have access to non-public information that they can use for their own investment activities.

Investments

Understanding Mutual Funds as the Most Conservative Approach in Investing

Investing one’s hard-earned money requires diligent research about financial instruments and of the money management firms providing the investment platform. While today there’s a wide array of investment options, the most common advice given to new investors is to invest on mutual funds. These are investment products that permit individuals to make a choice based on their risk tolerance, their financial goals and the time period they expect to receive investment returns.

Actually, mutual funds are also called conservative funds and are regarded as ideal for individuals who prefer to stay on the safer side of investing activities. These are funds managed by a group of financial experts who make it a point to reduce the risks by maintaining the right balance between the benefits of investing in equities and debt instruments.

What Exactly is a Mutual Fund and How Does it Work ?

Actually, a mutual fund refers to a company that mainly focuses on pooling money entrusted by numerous individuals for the purpose of investing the pooled funds in an assortment of financial securities. They combine equity shares or stock investments, bonds issued by a corporation or government and short-term business loans into a single holding referred to as the investment portfolio.

Mutual fund investors earn income from the investment portfolio based on the proportion or size of their mutual fund investment. They offer high yield investments when compared to the traditional Time Deposits and Recurring Deposits offered by banks.

However, it’s also important to carefully select the mutual fund company as there are fly-by-night, unregistered firms posing as asset management entities but without applying real expertise in managing investment portfolios. Also, be wary of mutual funds that promise incredibly high rates of returns, as more often than not, they are actually Ponzi-like pyramid scams that pay out returns using money derived from new investors.

Features to Look for as Ideal Qualities of Mutual Funds

Most mutual fund investors rely on word-of-mouth recommendations as the easiest way of choosing a mutual fund. Yet this approach limits one’s options as there are now mutual fund companies that customize investment choices based on the investors needs. They do so by providing personalized services at the highest level, by first developing a clear understanding of every individual’s risk tolerance, financial goals and of the timeframe within which they intend to place their money in an investment portfolio.

An ideal investment portfolio provider is one that closely monitors the components of its holdings to ensure there is a proper asset mix that works toward accelerating growth; whilst limiting the risks to which investors’ money are exposed. It’s also important that they offer their services with full transparency, including providing information in which jurisdiction they operate as assurance that the company is operating in a stable environment.

Uncategorized

Marjorie Taylor Greene Asked by FEC to Provide Details on Unitemized Donations of Over $3.5 Million

Republican Georgia Rep. Marjorie Taylor Greene has been asked by the Federal Elections Commission to properly account for a $3.5 million re-election donation. Actually, the request was addressed to her husband Perry Greene ,who acts as her campaign treasurer. The FEC specifically asked for more information on the reelection campaign donations received during the first two quarters of this year.

During the first three months, Greene’s campaign coffers increased by $2,558,631.61 by way of donations from undisclosed donors, which were categorized as unitemized donations. In the following quarter, another $967,035.63 in unitemized donations were recorded, which brought the unitemized donations to a total of more than $3.5 million during the brief period.

Greene’s husband has until October 12 to explain and provide details about the $3.5 million donations to the Federal Election Commission.

Basic FEC Rules Political Candidates Must Observe When Receiving Campaign Donations

Candidates for re-election are not required by law to disclose their donor’s identity or itemize the donations; but only for contributions of less than $200 in every election cycle.

On the other hand, a political donation of $200 or higher must be itemized and be supplied with ample information such as the donor’s name, address, occupation, employer, and the date it was donated.

Observers estimate that in complying with the FEC’s rules, Greene’s husband has to show that the money was received from at least 17,630 individual small donors who individually contributed only $199.99 or less. Greene’s supporters contend that It’s plausible to have raised have raised $3.5 million in small donations since they received high volume of contributions during the period.

According to Greene’s spokesman Nick Dyer, the congresswoman has already sent a prompt response to the FEC, explaining that she has been receiving support from all over the country, usually in donation amounts of $10-$20, Others have reservations about this since during Greene’s recent fund raising campaign with Rep/ Matt Gaetz, the two Republican politicians were either booed by onlookers or canceled out by venue operators.

Financial

Sen. Manchin’s Corrupt Ploy to Seek Political Donations Outed in Zoom Video

A video of a Zoom call hosted by centrist group No Labels showed Sen. Manchin in conference with numerous big donors, shedding light on his political agenda. A group called The Intercept obtained the video showing that the West Virginia senator is in a position where he could put pressure on moderate Republican senators to influence voting on legislation.

Although the video shows Manchin looking to round up GOP votes for the Jan 6 congressional investigation commission, he argued that the GOP’s refusal to investigate the Jan. 6 putsch, is enabling the left’s argument that bipartisanship is impossible. Manchin argued that if Republicans won’t even agree to investigate a threat to their own lives, it only emboldens the far left, which was how he referred to his fellow Democratic lawmakers.

Manchin has turned himself into one of the most powerful figures in American politics today but it is darkly amusing to see what he does with that power. He has been accused of using his position to solicit corrupt favors from the opposition, which in his case is the GOP.

GOP Senator McConnell Thwarts Manchin’s Attempt to Use The GOP

Minority Leader Mitch McConnell (R-Ky.) refuses to become a willing party to Manchin’s political manipulations. He publicly made it clear that the GOP does not and will not support Sen. Manchin’s proposed amendments to bills put forward by the Democratic. The latter purports that he is promoting bipartisan agreements in Congress.

 

The West Virginia senator seems to enjoy the fact that he is able to destabilize the Democratic Party’s powers as the majority party. As it is, and with the filibuster rule still in place, the Democrats need at least 10 GOP votes in order to pass a senate legislation.

Sen. Joe Manchin, the West Virginia Democrat prefers to keep the filibuster rule in place, which the oppositionists are using to oppose much of President Biden’s agenda.

Manchin Does a Turnabout with His Stance on Voting Rights Bill

In an op-ed he published recently, Manchin declared that he will oppose the “For the People Act,” the comprehensive voting rights bill being pushed for by the Democrats’ The article containing the declaration appeared shortly after Senator Manchin received campaign donations from influential pro-business lobbyists, particularly the U.S. Chamber of Commerce.

The op-ed and the donation cannot be regarded as not linked, since the group has not made any political contributions to Manchin’s campaign funds for nearly a decade.

After being exposed by the Zoom video obtained by “The Intercept”, the latest action from Sen. Manchin is apparently aimed at trying to save face. He is now proposing amendments to the For the People Act , which in effect, are in support of the major voting rights being pushed for by his fellow Democrats.

Uncategorized

Georgia Enacts Bill Suppressing Voting Rights of Disadvantaged Voters

Republican state politicians are doing their best to use the power they still have to ensure their win in the next elections, even without majority support. The majority being the members of the minority groups in their jurisdictions. The state of Georgia for one, has already passed and enacted the Election Integrity Act put forward by the Republican-controlled state senate and signed by Republican Governor Brian Kemp

However, Democrats, civic rights groups and other political observers call Georgia’s Election Integrity Act, a voter suppression bill as the extraordinary provisions include the following:

  • Restricting limits in the usage of ballot drop boxes;
  • Requiring the inclusion of a photo ID, driver’s license number, or state ID number in absentee ballots
  • Restricting Sunday voting to only one Sunday for each county and;
  • Prohibiting distribution of drinks and food to voters waiting in line to vote.

Obviously, the elimination of early voting during Sundays directly suppresses the “Souls to the Polls” mobilization drives being carried out by Black churches. The rest of the restrictions put minority voters at a disadvantage by voter purging, mandating restrictive voter ID requirements, limiting voting hours, and closing polling locations in areas where the majority of voters are Democrats.

Law Being Legally Challenged by Three Civic Groups

The Rise, the New Georgia Project and the Black Voters Matter Fund, have filed a lawsuit against state officials last Thursday, as the Election Integrity Act violates the Voting Rights Act. Their complaint to the federal court is that the law’s restrictions would disproportionately affect minority voters.

On the other hand, Republicans believe that the act would rebuild the confidence in the election system.

Legal director of Black Voters Matter, April England-Albright asserts that the modification in the state’s voting rules comes after the high voter turnout from the last elections vote for Democratic candidates.

Albright said that the state officials want to prevent the communities that caused the high turnout from using mail, drop off boxes, and early voting. These methods of voting actually increased participation and representation of voters, all which worked in favor of Democratic candidates, specifically President Joe Biden and Georgia Senators Raphael Warnock and Jon Ossof.

As the lawsuits included the Secretary of State as defendant, Ms. Albright contends that the goal of the office of the Secretary of State is to make the election process easier, not harder.

Financial

A Brief Profile of Australian Automotive Consumers

A 2021 global consumer report on the automotive industry revealed that 70% of Australians prefer to buy petrol-fueled cars over electrically charged vehicles. Despite the global push for the use of clean energy as part of the battle versus climate change, the general preference for traditional petrol-fueled cars is still high among Australians.

According to the 2021 Global Automotive Consumer Study, only 18% of consumers in Australia have expressed plans of buying a hybrid electric car, while only 4% stated that they intend to buy an electric car for their next vehicle purchase. Apparently, most motorists in the country prefer driving an automobile that has already been tested as a technology and obtainable at an affordable price. As opposed to electric or electric hybrid cars, of which the cost or price is higher by 28% than the average selling price of conventional automobiles.

Besides, even if electric cars proliferate across the country, it will only increase the demand for electricity. In a separate report about fossil-fueled electricity generation, the use of renewable energy to produce electricity is still facing challenges in trying to meet the high demand for electricity in Australia. Yet the greater concern raised by automobile consumers in Australia is the lack of battery-charging infrastructures that can make electric cars truly reliable as means of private transportation.

How Do Automotive Consumers in Australia Purchase New Vehicles

When it comes to actually buying a new vehicle, the 2021 global consumer report disclosed that 79% of Australians still prefer to purchase a new vehicle by way of in-person transactions. Although they spend a lot of time researching every financing options available, 60% are open to car loan brokerage servicing but only if provided free.

It’s quite apparent that vehicle financing facilities are widely used by Australia’s automotive consumer, since billions of dollars have been accessed to finance car purchases throughout the country. The average loan size varies according to age group, of which people aged between 35 to 45 are the largest group of borrowers with an average car loan size of $31,738.40 or thereabouts. The differences arise if a borrower is married or single, and with or without dependents.

Sixty-one percent (61%) of those looking for vehicle financing prefer to close purchase deals with authorized dealers. Generally, those who buy by way of car loan financing are able to complete their vehicle purchase transactions within 10 up to 30 days from date of loan pre-approval.

Advice from a Car Loan Broker

When purchasing a vehicle from a dealer, National Loans, give advice that when buying a new car from a dealer, one should not immediately accept the financing facility offered by the car dealer. Mainly because car loans or are not a one-size fits all solution.

In providing free service, the people behind the National Loans website helps car loan seekers connect to the best providers of car financing deals. The free service starts with the Pre Approval aspect, to help car buyers determine their financing options based on their budget. That way, they won’t get entangled with a cal loan that could later turn out to be onerous and burdensome.

The professionals of National loans have the capability to tailor fit car loans based on the buyer’s financial circumstance, including those with certain credit issues. Denoting that the servicing commitment focuses on looking for the best ways by which a buyer can purchase his next vehicle; but without feeling trapped and burdened.

Having spent more than 24 years in providing car loan brokerage service, this online service provider was able to build a strong relationship with car dealerships and lending institutions. In turn, car financing brokered by National Loans, has helped a countless number of Australians find the best car financing option for their vehicle purchase.

Uncategorized

Potential Changes in Tax Policies to Affect Wealthy Taxpayers

As in any country, the election of a new leader also means possible changes in tax policies, which is likely to happen under the new Biden administration. One of Pres. Biden’s key tax proposal is to revert the highest federal income tax rate for individuals back to 39.6%, which was the rate before the Trump administration had it reduced to 37%.

Still, any legislative proposals to change or modify the current tax laws have to be approved by Congress, before they can be enacted as laws. Since the ruling bloc in both the lower house (State Representatives) and upper house (State Senators) is the Democratic Party, to which President Biden belongs, the proposed reversal to the pre-Trump rate of 39.6% is likely to take effect starting tax year 2021.

Other Tax Policies that the Biden Administration will Propose to Congress

Inasmuch as taxpayers are now living in 2021, it’s important to know the likely changes that will impact the income that will be earned this year. Aside from the potential reversal of the top tax rate to 39.6%, other tax proposals that the Biden administration will submit to Congress, will include the following:

Corporate Tax Increase

The present Corporate Tax of 21% will increase to 28%. The Trump administration had slashed down a previous Corporate Tax of 35% down to 21% as legislated under the 2017 Tax Cuts and Job Act passed by Congress. The new Biden administration will propose to add back half, or 7% of the 2017 tax cutback (35% – 21% = 14% cut back in 2017.)

Minimum 15% Corporate Tax on Corporate Book Income

Institution of a minimum corporate tax payment of 15% if the corporate book income is $100 million and above. Reference to “corporate book income” denotes the income reported by companies to the general public; particularly for shareholders who are interested in evaluating the financial health and performance of a corporation. The book income reported is likely higher as the income presented in the financial statements is not for taxation purposes.

Reduced Value of Estate Tax Exemption

BIden will seek to bring down Estate Tax Exemption by 50%, which under the Tax Cuts and Jobs Act (TCJA) of the Trump administration had increased to $11.18 million for single taxpayers and $22.36 million for married taxpayers. The amount of Estate Tax Exemption was set to increase yearly up to 2025 based on inflation rate, to which 2020 already exempts $11.58 million from estate taxes. This denotes that if Congress approves the reduction of Estate Tax Exemption, recipients of estates worth $5.80 million or higher, received as inheritance or bequeathed to a beneficiary for any reason, will have to pay Estate Taxes.

Additional Social Security payroll tax of 6.2% will be deducted from the salaries of individuals earning $400,000 or more.

An Unsolicited Advice for the Wealthy and High Income Earners

Apparently, the major tax changes proposed by the Biden administration will affect the wealthy and high income earners. That being the case, it’s all the more important for those who rely on the financial advice and services of wealth management companies, to keep abreast with the changes that will transpire under the new administration.

According to the financial advisors of pillarwm, one of the setbacks to hiring large firms that handle the wealth of the ultra rich is that the smaller accounts are often relegated to the lower-ranked wealth managers. The latter on the other hand, simply apply a cookie-cutter approach in carrying out accounting and tax services, estate planning, as well as in giving financial and investment advice. Knowing the changes that will transpire will give individuals the ability to assess if the wealth managers handling their tax plans have taken into account the actual changes. Tax plans after all can help minimize the potential losses that could affect their investment and asset portfolios.

Investments

Mining as a Service : Game Changing Approach to Running a Crypto Mining Business

Many are considering running their own bitcoin mining business to increase their digital assets, and as an alternative to buying BTCs at current high prices. Today, mining bitcoins or BTCs as an investment option is more feasible than before, because there are now mining farms that offer bitcoin mining as a service.

For the benefit of those who are not too familiar on how one gets to acquire cryptocurrency, specifically bitcoin, be in the know that there are two ways you can acquire a digital asset. One is to buy a specific number of units of BTCs in exchange for real money at the prevailing exchange rate. The second is by earning a unit of bitcoin as a reward for solving the complex hash of data related to each bitcoin transaction. The reward is a form of fee as solving the hash is a way of verifying the validity of the bitcoin transfer occurring in the blockchain platform.

Why Many are Considering the Option to Run Their Own Mining Business

BTC investments have reached an all time high ever since trading growth spurred sometime in mid December in year 2020. The participation of traditional Wall Street investors has ignited the demand for bitcoins, which caused the supply to dwindle. A great number of bitcoins has yet to be mined in order to increase the number of BTCs in circulation.

However, as the number of BTC transactions increases the more difficult it becomes for miners to solve the crypto hash. Mainly because every hash data related to the bitcoin being transferred will form part of the entire crypto puzzle that needs to be solved.

In the bitcoin economy, the law of demand and supply greatly affects the price of bitcoin, which is one reason why high volatility is a trait of BTC prices. Now if you will engage in bitcoin mining instead, as a way to increase your BTC resources, it will take more than just knowing how to solve hash puzzles to make this option truly profitable.

Why? You need to invest a lot of money on costly hardware and software that will enable you to solve hash puzzles in the shortest time possible, usually 10 minutes. The cost of mining does not stop there, because running the equipment requires a great deal of electricity that equates to high costs.

Over time, once you account how much bitcoin you earned as rewards and pit the total value against the total cost you incurred to earn the related reward, you could end up feeling disappointed. In most cases, the profits earned are not enough to bring a reasonable amount of return on investment (ROI), let alone profit.

Now here’s the thing, the outlook over the prospects of running a mining business has changed. There are now bitcoin mining farms that offer mining as a service.

About Providers of Bitcoin Mining as a Service

Know that the latest development in the cryptocurrency industry is the availability of bitcoin mining farms that offer mining as a service. It’s a game changing approach to running a startup mining business.

A good example is elevategroup.io , which offers the use of their mining platform to mining enthusiasts looking to run a small scale mining business of their own. Now the option to increase one’s cryptocurrency portfolio by way of mining becomes better. When taking on elevate group’s offer of mining as a service, the need to invest on costly equipment and software, as well as put up with high energy costs, will be eliminated.

Find out more on how elevate group’s mining solution works by following the  link provided above.

Politics

Despite an Imminent Biden Win, Trump Has No Plans of Conceding

Even as overall unofficial results are in favor of Joe Biden, Trump has no plans of conceding; still accusing election officials of manipulating the votes.

In his first public address since election day, Donald Trump didn’t provide any proof except for conspiracy theories of electoral manipulations. Since everything was highly speculative, media sites such as USA Today removed the live stream of the President’s public address, as USA Today’s editor-in-chief Nicole Caroll said, their job is to disseminate truth, not groundless conspiracies.

Trump’s public address occurred as the opposition, when Democratic candidate Biden started taking the lead in several states. Trump’s hopes of winning a second term is getting nowhere near reality as the voting results in the four key states of Arizona, Florida, Pennsylvania and Wisconsin did not deliver enough votes that would have made true his premature claim of winning the presidency.

Election officials are assuring voters that the election this year is hardly chaotic as anticipated. Regardless of longer polling-site hours, and usual technical problems, they have not encountered significant problems that interfered with the vote counting processes. Even if it’s taking longer when compared to previous years’ election, there is no basis that support allegations of fraud with the mail-in ballots.

Key Republican Figures Not Backing Trump’s Claims of Fraud

According to Senator Mitt Romney, the only Republican who voted in favor of Trump’s impeachment trial, the soon-to-be-former president’s calls to stop the counting is unconstitutional as each and every vote counts as part of the democratic process. Sen Romney said that if there are inconsistencies, there will be an investigation and the matter will be resolved in judicial court/s.

Even former Governor Chris Christie of New Jersey, a known close ally of the President, also expressed disapproval over Trump’s claims of electoral fraud. He told ABC News last Thursday that there were no justification for the argument and that all votes that are in should be counted.

Politics

Learning More about the Quack Doctor Endorsed by Trump

Earlier this month, Trump’s deployment of secret police in major cities was the hot issue. Today, it has been replaced by Trump’s endorsement of a quack doctor.

Actually, his son Donald Jr. initiated the endorsement by tweeting a video of a Texas based doctor that appeared in the right-wing Breitbart News website. Although Twitter immediately suspended Donald Jr.’s account to prevent the misinformation from spreading further, Trump was quick to the draw.

The latter immediately re-tweeted Donald Jr.’s post, and made it possible for the quack doctor’s video to go viral. Nonetheless major social media sites like Twitter, Facebook and YouTube have since removed her video for the simple reason that her speech carried misleading information about hydroxychloroquine as a potent cure for COVID-91. Trump tweeted his own endorsement mainly because the video provided support to his own promotion of hydroxychloroquine as an effective cure for COVID-19. That is despite contradictions by the experts of the medical community and lack of FDA approval.

Later however, when Trump was pressed for answers by CNN’s Kaitlan Collins on information about the Texas doctor, Trump said he doesn’t know anything about her, or from where she originally came from; whilst immediately ending the press conference to avoid answering any more questions about the quack medical practitioner.

About Stella Immanuel the Texas Doctor Endorsed by Trump

Stella Immanuel is actually a Texas-licensed pediatrician who has a medical clinic in Houston, where she claims she has helped numerous COVID-19 patients recover from the illness.

What Trump missed knowing about Immanuel is that she is currently facing a malpractice lawsuit after a patient who sought her medical attention died. Although the patient’s death is not COVID-19 related, Immanuel merely prescribed a medication without fully examining the patient’s source of pain.

As it turned out, the patient had broken a needle that she used in injecting herself with meth. Since the patient’s condition worsened she was brought to a hospital where she was examined, but apparently too late to save her because she died six days later.

The reason why Immanuel is being touted as a quack doctor is for her claims that most women are suffering from gynecological problems because they are suffering from astral sex. She explained astral sex as intercourse with a spirit man who is actually a tormenting spirit. Immanuel makes all such claims by delivering them as sermons in a religious organization she founded and named as the Fire Power Ministries.

Among Immanuel’s cult claims is that the vaccines currently being developed are using alien-DNA, as part of a conspiracy perpetuated by way of the COVID-19 pandemic. The video that the father and son Trumps tweeted shows Immanuel making claims that the real truth is that a COVID-19 treatment has been available all along. That the cure is hydroxychloroquine — claiming further that she has proven the drug effective in curing 350 patients who came to her for treatment

Immanuel is an immigrant from Nairobi, where she obtained her medical degree. She along with other Texas doctors, who lack medical experiences in handling serious health cases have formed a group known as “America’s Frontline Doctors.” in introducing their alliance to the public, they also made known their intentions of carrying out a medical mission to treat COVID-91 patients, even without approval from the FDA in using the malaria drug hydroxychloroquine.

However, as the press people tried to get in touch with Immanuel and her group, none of them were available for interview.

Investments

Senators in STOCK Act Scandal

Three Republican senators and one Democratic senator are being investigated by the U.S. Justice Dept. after the nonpartisan Common Cause filed a complaint.

Common Cause, a grassroots watchdog, alleges that Senators Richard Burr (R-North Carolina), Senator Kelly Loeffler (R-Georgia), Senator Jim Inhofe (R-Oklahoma) and Senator Diane Feinstein (D-California), have violated the STOCK Act. Reports have it that the four (4) U.S. senators had unloaded their shares of stocks upon receiving classified briefings; allowing them to avoid investment losses during the stock market downturn.

According to the Justice Department, investigations will look closely into the point in time when the senators unloaded substantial amounts of shares of stock (e.g. Burr’s 33 stock transactions in Feb. 13, 2020); and other related information (emails or phone calls to wealth managers and/or stock brokers), to determine if the senators, had indeed committed “insider trading” and violated the STOCK Act of 2012.

What is the STOCK Act 2012

The Stop Trading on Congressional Knowledge Act or STOCK Act is a law that was passed in 2012, to prohibit stock trading among members of Congress, congressional staffers, and other government employees including members of the executive and judiciary branches. The prohibition applies to those who in relation to their government position or job receive classified information or information that has not been made available to the general public.

Senators Dumped Shares While President Trump was Still Downplaying the Coronavirus Outbreak as a Hoax

The senators in question argued that decisions to sell were made by their wealth managers based on public information on how the coronavirus outbreak appeared to be trending. Yet what made their respective wealth manager’s selling activities questionable is that they occurred right after the senators attended a classified briefing, which warned of how the outbreak has likely potential to wrought a catastrophic impact similar to the 1918 Spanish flu.

Considering also that at the time the lawmakers unloaded their investment portfolio, the public was still being convinced by U.S. president Trump that the outbreak was not as serious as what the CDC had warned. During campaign rallies, Trump asserted that the coronavirus was a hoax cooked up by Democrats. Later Trump tried to convince the public that the government had everything under control, and that a vaccine was already underway.

The four senators were able to avoid losses since they unloaded stock investments before their prices went down, as a result of the massive sell offs that transpired thereafter.

Senator Burr Also Warned Associates and Political Donors

Senator Burr, who chairs the Senate Intelligence Committee and at the same a time a member of the Senate Health Committee, has more explaining to do.
The National Public Radio (NPR) came out with a secret voice recording, showing the North Carolina Senator giving out the same warnings to his wealthy associates and political donors in February 27, 2020.

The NPR, which is a Washington-based, non-profit membership media organization that receives both public and private funding, was the first to break the news about Senator Burr’s stock market trading activities.

Politics

Impeachment Trial Puts a Dent to Trump’s Narcissistic Ego

Time and again, Trump’s overly pompous words and actions have been branded by many psychologists as the typical signs of a person with narcissistic personality disorder. Many agree that Trump is so full of narcissism that the impeachment resolution passed by Congress a few days ago, had dealt a great blow to Trump’s bloated ego.

Trump will go down in America’s history as the third U.S. president to be impeached, after Andrew Jackson and Bill Clinton. Although Richard Nizon nearly made the claim to being the second U.S. president to be impeached, Nixon resigned from office before Congress reached a formal decision to impeach him.

It is expected that Trump’s Republican minions at the Senate will act quickly to save him from being removed from office. Yet it does not take away the damaging effect of impeachment on Trump’s self-absorbed world. After all, he views himself as the greatest person to have ever walked the Earth.

Impeachment Puts a Dent to Trump’s Pompous and Boastful Behavior

Now that the impeachment inquiry launched by the House of Representatives has advanced to become an impeachment trial, Trump’s narcissistic ego is finding it hard to process how he will be able to proclaim himself as the greatest U.S. leader. In fact he even implied in a statement to then visiting French president Emmanuel Macron that he (Trump), is smarter than George Washington.

It probably troubles his mind that he will find it more difficult to convince the world leaders and diplomats who attended the 2018 UN General Assembly that they had no reason to laugh at him for stating that his administration accomplished more than any of his predecessors ever had.

To Trump, impeachment is already an ugly word, even uglier now that he is branded as the 3rd U.S. president to have been impeached. Even if he continues to perform duties as the nation’s chief executive, he knows for sure that other world leaders will continue to regard him as a laughing stock, the way they did during the recent G7 Summit in England. .

Signs that Impeachment has Greatly Affected Trump’s State of Mind

As cognitive experts believe that Trump’s narcissism is bound to get worse during his presidency, the impact of the impeachment trial on Trump’s narcissism has begun to surface.

Only recently in a campaign rally held in Michigan, Trump made vicious remarks against Michigan Democratic Congresswoman Debbie Dingell and her demised husband House Representative John Dingell. Trump’s rhetoric implied that the deceased Michigan Congressman who passed away in February of this year, is not in heaven but in hell. That is notwithstanding the fact that the deceased Representative John Dingell is highly revered in the state for being the longest-serving Congressman in the history of U.S. politics.

Trump once again manifested a behavior, which in his narcissistic world does not recognize Constitutional laws or moral values. Even his close political ally Senator Lyndsey Graham found Trump’s remarks to put down a highly distinguished statesman, as irreverent and distasteful. Senator Graham wants Trump to publicly apologize to Congresswoman Debbie Dingell, a demand directed toward a narcissistic person who hears only praises about himself.

Uncategorized

As House Committee Inquiries Intensify, Trump’s Disturbing Actions Continue

The number of House Representatives supporting the impeachment inquiry has reached a total that makes an impeachment trial imminent, Senate Majority Leader Mitch McConnel admits that the Senate Chamber has no other option but to follow through.

A total of 225 House Democrats and one (1) independent Representative (Rep. Justin Amash), has surpassed the 218 majority number  required, in approving all charges for impeachment that Trump will face for willfully disregarding his duties and abusing his authority as duly elected president of the United States.

The contents of the whistleblower complaint as well as the transcript of the telephone conversation has provided details about Trump’s questionable act of seeking the Ukraine President’s assistance in besmirching leading election-opponent Joe Biden’s reputation.  Although Senator McConnell does not have the power to block the trial, he and other Republican Senators comprise the majority that will decide whether Trump should continue to stay in office, or be removed, and if necessary, be convicted for unlawful actions the latter committed.

However, there is still a possibility that the majority number represented by the Republican Senators to assure Trump of an acquittal, might not solidify. About 30 unnamed Republican Senators have already expressed acknowledgment that the initial evidence presented, show proof of unlawful actions that necessitate Trump’s removal from office. Still, they also indicated that they will support such judgment, only if the voting process will be carried out under the cloak of secrecy.

Trump Makes the Possibility of Impeachment Trial More Likely by Retweeting Threats of Civil War

While the ongoing impeachment inquiry continues to intensify, an evangelical pastor named Robert Jeffress appeared at Fox News to give warning that if ever the impeachment trial results to Trump’s removal, a civil war-like fracture will take place. Trump on the other hand gave encouragement to the pastor’s notion by retweeting the civil war warning.

This prompted Illinois Republican Representative Adam Kinzinger to openly rebuke Trump by calling the latter’s action of spreading civil war threats as repugnant, especially if coming from the president of the United States. The Republican Congressman, who has seen active military action as U.S. Air Force pilot in several battles, including the Iraq War said

I have visited nations ravaged by civil war. — I have never imagined such a quote to be repeated by a President.

Politics

Trump Unleashes a New 10% Tariff Threat vs China after Latest Trade War Talks Ended Last July 30, 2019

Trump’s latest announcement of imposing a 10% tariff on the remaining $320 billion worth of Chinese goods entering the U.S., clearly denotes that the most recent U.S.-China did not end well. Although Trump had previously described the ongoing talks as “constructive”, his newest tariff announcement, is an indication that nothing constructive was agreed upon by both sides.

Effectivity date of the new tariff is on September 01, 2019, which means it could still be averted if China makes good on its previous commitment. According to a White House announcement, trade negotiations will resume in Washington by early September.

Trump Asserts China is to Blame Why Recent Negotiations Failed

According to Trump, China failed to honor its previous commitment of increasing its purchase of agricultural products as a show of goodwill. In return, the U.S. government eased sanctions imposed on controversial Chinese telecoms giant Huawei Technologies Co Ltd.

Yet according to Chinese state media Xinhua, the government of China declared that millions of tons of soybean shipments from the U.S. arrived in China since July 19, 2019; whilst numerous Chinese companies have placed new orders for U.S. cotton, soybean, sorghum and pork.

Trump vows to increase the 10% tariff to 25% if after the September resumption, China will not budge from its present negotiation demands that include stripping of the existing duties that were imposed during the ongoing trade war.

To date, the U.S. imposes tariff rates of 25% exclusively on $250 billion worth of Chinese imported goods. On the other hand, China applies exclusive 25% tariffs on U.S. imported goods valued at $110 billion. If Trump will not find future negotiations favorable, the 10% tariff on the $320 billion worth of Chinese importation will be raised to 25%.

Prior to the closing of the 2-day trade talks in Shanghai, Hua Chunying, the spokeswoman for the Chinese Foreign Ministry said that it was clear that the United States continued to “flip flop” on the negotiations, although she added that she was not aware of the latest developments that transpired during the ongoing talks.

Politics

U.S. Vice Pres. Pence Sees Mexico Tariff Kicking Off On June 10, 2019, Not Unless…

After meeting with the Mexican envoys to discuss solutions for averting the dreaded 5% – 25% tariffs that the U.S. will impose on goods imported from Mexico, U.S. Vice President Mike Pence said the tariffs are likely to kick off as announced on Monday, June 10, 2019. Not unless the delegation headed by Mexico Foreign Secretary Marcelo Ebrard returns to the negotiation table with an acceptance of Trump’s demand for a “safe third country” agreement and of the “Migrant Protection Protocol.”

However, instead of accepting those conditions laid out to them last Wednesday, the Mexico envoys returned with a promise to deploy around 6,000 of the Mexico’s National Guards to the country’s southern border with Guatemala. The purpose of which is to cut off the flow of Central American migrants whose advancements to the US – Mexico south border has led to even sharper increases during the recent past months.

According to V.P. Pence, Mexico’s non-acceptance of the aforementioned conditions, is for the U.S. president to decide. Pence though, hinted that negotiation talks will continue.

Trump views the Thursday negotiations as having made “a lot of progress”, and is expressing determination to impose the initial 5% Mexico tariff on June 10, 2019 (Monday.) Yet, he is also dropping hints that are not short of dangling possibilities of foregoing the tariffs altogether. That is, if Mexico fully accepts the “safe third country” agreement and the “Migrant Protection Protocol.”

When asked by reporters about those specific demands, Mexico Foreign Secretary Ebrard avoided the question, but commented that the meeting on Friday could be one of the last sessions in the negotiation talks. Other Mexican officials said that they will agree to solutions in curbing the flow of asylum seekers, but only if such solutions are dignified, as well as effective.

What Exactly is the “Safe Third Country” Agreement?

Under a “Safe Third Country” covenant, a country agrees to grant asylum to refugees if that country has jurisdiction on the territory on which the refugees first set foot or landed. If this agreement is accepted by Mexico, the country automatically becomes responsible in granting the refugees asylum, as well as in preventing them from pushing forward should they prefer the U.S. as their place of asylum.

As it is, the government of Mexico is hardly in a position to take in hordes of refugees, in light of the country’s own economic conditions. In fact Mexico President Andres Manuel Lopez Obrador had slashed down the country’s immigration and refugee budget for 2019. According to reports, Mexico’s refugee agency is practically receiving less than $1 million for the year.

Canada, the only country with which the U.S. maintains a “Safe Third Country” agreement is currently seeking to end the pact, as Canadian official no longer regard the U.S. as a safe third country. .

Politics

Trump Vetoes Resolution to End U.S. Support of Arab Coalition Forces vs. Iran-Backed Houthi Movement in Yemen

U.S. President Donald Trump sent back to Congress without Executive Approval, the joint resolution passed by Senate last March 13, 2019 under S.J. 7. The joint resolution bars Trump as the Commander-in-Chief of the U.S. Armed Forces from approving further provision of military assistance, to the Saudi-backed Arab Coalition Forces waging war against the Iran-backed Houthi movement in Yemen.

In a letter addressed to the United States Senate, Donald Trump asserts that the resolution is unnecessary, since there are no U.S. military personnel in-charge or participating in the ongoing hostilities in Yemen. Yet he also stated that the resolution presents a

”dangerous attempt to weaken his constitutional authorities.”

S.J. 7: An Unprecedented Bill in the History of U.S. Congress

S.J. 7 of the 116th Congress is a resolution that puts an end to U.S. military support for the Arab-backed coalition forces that intervened in Yemen’s affairs since 2015. The intervention aims to restore Yemen’s internationally recognized government, taken over by the Iran-aligned Houthi. The resolution includes barring arms sales and sharing of intelligence.

Senator Bernie Sanders of Vermont, calls the joint resolution historic, because this is the first time in 45 years that Congress has taken measures to stop U.S. forces from participating in an unauthorized war. Senator Sanders, a long-serving independent from Vermont who later sided with the Democrats said,

”For many years, under Democratic presidents, under Republican presidents, Congress has abdicated its responsibility and allowed presidents to take our people into war without congressional authority,”

Although it is true that there are no U.S. military personnel actively taking part in the long running civil war in Yemen, the U.S. has been refuelling Arab Coalition aircrafts blamed for airstrikes that have killed thousands of Yemen civilians.

Last December 2018, Timothy Lenderking, Trump Administration’s Deputy Asst. Sec. for Arabian Gulf Affairs gave assurance to the United Arab Emirates in a security forum, by stating

“We (Trump Administration) believe that the support for the coalition is necessary. It sends a wrong message if we discontinue our support.”

Still, after Congress passed S.J.  7 last month, the U.S. military has ceased refueling Arab Coalition aircrafts.

Politics

Amazon HQ 2 Plans Move Forward: Arlington and Nashville In, New York City Out

Tech giant Amazon pursues expansion plans in Arlington, Virginia and Nashville, Tennessee, whilst scrapping New York City out of the picture.

Nashville was actually chosen in 2018 as a minor player, while New York City was scrapped after much hullabaloo was raised by local grassroots organizations, several New York state politicians and local NY City council members. The subject of protest  was the near $3 billion tax incentive offered to Amazon by the city government, as part of the Request for Proposal submitted to Amazon.

Amazon’s Original Choices

After more than a year of evaluating the proposals submitted by 238 cities, which included Toronto, Canada, the company chose the proposal submitted by the cities of New York and Arlington. The plan was to build 2 additional headquarters instead of building just one (1), whilst dividing the 50,000 new technology-related jobs between the 2 selected cities. The new employees can expect to receive salaries of more than $100K annually.

Actually, the benefits the cities will reap in having the tech giant as new addition to their landscape go beyond the creation of new jobs. According to the tech company, surveys showed that 70 percent (70%) of NYC residents supported Amazon’s decision to accept the NY proposal.

However, the company decided last February 2019 not to move forward with the NY HQ plans, as there are groups unwilling to work with them in connection with the project envisioned for the Long Island City.

Amazon’s new plan though will add only 5,000 new tech jobs to Nashville, the city being ranked Number 45 nationwide as a tech talent resource. Nonetheless, the tech giant plans to construct a 2-tower headquarter at the Nashville Yardsite. The additional office will be instrumental in growing Amazon’s technology hubs and corporate offices in in the U.S. and Canada, as means of easing the current load carried by the existing Seattle headquarter.

Plans for Amazon Expansion in Arlington, Virginia Still on the Table

On its part, the city of Arlington’s proposal includes an offer to give Amazon a $750 million in financial package, which the Virginia General Assembly had already approved with very few resistance. The package is actually more of a performance-based incentive, to which the local government will award financial grants.

That is if Amazon succeeds in meeting Arlington’s expectations once the tech giant builds its 2nd headquarter across the six (6) million sq.ft. space at the National Landing.

Politics

Democrats All Set to Stop Trump in His National Emergency Track, by Using All Possible Means

Many are looking to Congress for actions that would overturn Trump’s national emergency declaration last February 15, 2019. Finally, an announcement coming from the Lower House has been released, stating that House Democrats are set to file a resolution on Friday, aimed at overturning Trump’s national emergency declaration. NY Democrat and Senate Minority Leader Charles Schumer also said

Identical companion legislation to the House resolution will soon be introduced in the Senate”

How the Democrat Resolution will Run in Congress

If filing of the resolution pushes through on Friday, full house voting is likely to take place as early as next week or by the middle of March, 2019. If the bill passes muster at the lower house, it will then move up for deliberation and voting by the Senate. Since the measure will be introduced as a “privileged resolution,” the Senate will have to vote on the House-approved bill within eighteen (18) days.

House Speaker Nancy Pelosi is confident that the bill will move swiftly from the lower house to the Senate and finally to the Oval Office. Her confidence stems from the fact that some lower House and Senate Republicans will side with the Democrats. Republicans who won from perennial swing districts and states; namely Colorado, Florida, Iowa, Michigan, Minnesota, Ohio, Nevada, New Hampshire, North Carolina, Pennsylvania, Virginia, and Wisconsin are in a precarious situation. Apparently, how those GOP Senators will vote on the proposed bill, can impact their chances of winning in the forthcoming 2020 elections.

In the event that Trump vetoes a Congressional resolution that will block the implementation of his national emergency declaration, which is likely to happen, Congress will again go into voting to nullify the presidential veto. This time, a bill overriding the veto must garner at least two-thirds vote in the lower house, and another two-thirds in the Senate upper chamber.

What Happens Next if the Democrat Resolution Fails?

House Speaker Pelosi and Senate Minority Leader Schumer avow that they intend to pursue all possible means to overturn Trump’s declaration. That is assuming that Trump’s presidential veto prevails due to lack of Congressional support in overriding such veto.

The next step available is for the Democrats to a file lawsuit in the same way that 16 American states have already pursued as course of action. Their court petition is to prevent Trump from using military and homeland security funds allocated for their respective state. Many believe that the Democrats have better chances of stopping Trump from his track, by filing their own lawsuit.

Apparently, the Republicans had set a precedent in 2014, when their lawsuit versus the Obama administration, won the support of the district court judge. The matter brought to court pertained to an attempt by the Obama administration to use funds already allocated for other purposes, to subsidize health insurance under the Affordable Care Act. This previous ruling therefore, applies as helpful argument in contesting Trump in his use of his national emergency powers, as means of diverting military funds to his US border wall project.

Politics

What May Happen if Congress Maintains Its NO Border-Wall Appropriation

Trump’s agreement to bring the U.S. government in full operation is only temporary and conditional, giving Senate up to February 15, 2019 to decide on his request for a $5.7 billion border-wall funding. What will happen, if after February 15, 2019, Trump fails to get the funding?

Upon signing the short-term funding bill, Trump still made it clear that his border-wall funding request stays on the negotiations table. If not, he will be constrained to initiate another partial government shutdown or declare a State of National Emergency. This means that if another partial shutdown happens, around 800,000 government workers will once again be without paychecks, while several badly needed government services will be suspended anew.

Now what will happen if Trump decides to use his executive power to declare a State of National Emergency?

Trump’s State of National Emergency Alternative

A U.S. President is empowered to declare a State of National Emergency under the provisions of the National Emergencies Act (NEA 50 U.S.C 1601). According to CNN, the White House is currently updating the proclamation draft that was previously prepared. The draft presents courses of action, in case Trump decides to invoke the power vested by the NEA 50 U.S.C 1601, as alternative.

The proclamation draft will have Trump declaring that

a national emergency exists at the southern border of the United States….. The massive amount of aliens who unlawfully enter the United States each day is a direct threat to the safety and security of our nation and constitutes a national emergency

CNN further reported that if the incumbent U.S. President uses his NEA power to obtain the border-wall funding, the related emergency actions that will be undertaken include extracting sums of budget appropriations, from the following:

National Treasury – $681 million in Forfeiture Funds
Military – $3.6 billion of construction budget
Pentagon – $3 billion in civil works funds
Department of Homeland Security $200 million in unspecified funds

Still, the NEA alternative is not a foolproof course of action, because the amended version of the Act has formally given Congress the power to exercise check-balance; along with the power to invalidate the national emergency proclamation, if found unwarranted.

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