Today Treasury Secretary Steve Mnuchin and Economic Director Gary Cohn held a briefing to outline the tax proposal of President Trump.  The overall plan is essentially the same as the plan he proposed in the campaign with some slight modifications on rates etc.

The biggest structural change is political and regional in the current proposal because the rates are lowered, but deductions are removed – including deductions for state and local taxes.  People who live in states/municipalities with income taxes, and who earn enough to carry a tax liability, would see their ability to deduct those state taxes removed.

Because of the UniParty nature of congress; and specifically because special interest lobbyists will write the final tax plan (if one ever surfaces) CTH is not going to spend much time in the analytics of this.  Personally I highly doubt there will EVER be a comprehensive tax reform package even created; the UniParty [lobbyists/Big Club] will not allow their control over taxation to be diminished.

Tax reform is a noisy issue sure to fill lots of media stories, but the end result will be no action.  If a legislative bill is ever created we’ll discuss then.  More than likely we will see small, individual tax bills targeting specific aspects of current tax policy.

Here’s two articles explaining the possibilities against the backdrop of this proposal:

Zerohedge analysis and CNN Money analysis.

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Earlier today President Trump signed an executive order directing Interior Secretary Ryan Zinke to consult with local governments and tribes in order to review national monuments created by the Antiquities Act since January 1, 1996 – that are greater than 100,000 acres in footprint – and report back to the President on suggested legislative or executive action, if applicable, within 120 days.

The Antiquities Act of 1906 authorizes the president to declare federal lands of historic or scientific value to be national monuments by designating the “smallest area compatible with proper care and management of the objects to be protected.”

Since the 1900s, when the Act was first used, the average size of national monuments exploded from an average of 422 acres per monument. Now it’s not uncommon for a monument to be more than a million acres.

The designations of the Grand Staircase-Escalante National Monument in 1996 and the Bears Ears National Monument in 2016 are considered the book-ends of modern Antiquities Act overreach. Each monument is more than 1.3 million acres.

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This is more than a little funny.  Senator Ted Cruz must not be having much success fundraising for his re-election campaign, as his latest publicity stunt outlines:

In essence, the architect of Obama’s Fast Track Trade Promotion Authority bill is using the border wall, which he is paid to oppose, as a tool to “gruber” his sheeple followers.  Judging by the number of people responding to the tweet, he’s found a goldmine.

As many people are aware, Senator Cruz is part of the ‘controlled opposition’ ploy.  As a dedicated UniParty benefactor of the U.S. CoC lobbying expenditures Ted’s role is to plow through the political field giving a crony-constitutional impression of one thing while loyally working to deliver the end result of the thing he optically rails against, like TPP or TPA.

The El Chapo/wall angle as a narrative and fundraising mechanism, is similar to the dead-end ploy previously exhibited by Senator Rand Paul in last month’s ObamaCare repeal narrative used as his fundraising tool.   Both are fallacies of false choice.  Both have no foundation in actual goal or intention.  Both are ruses.

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San Francisco based Federal Judge, William Orrick, issued a preliminary injunction today blocking any attempt by the Trump administration to withhold funding from “sanctuary cities” that do not cooperate with U.S. immigration officials.

Judge Orrick said president Trump has no authority to attach new conditions to federal spending.

(Via AP) […] U.S. District Judge William Orrick issued the preliminary injunction in two lawsuits — one brought by the city of San Francisco, the other by Santa Clara County — against an executive order targeting communities that protect immigrants from deportation. The injunction will stay in place while the lawsuits work their way through court. (read more)

Judge Orrick is a campaign bundler to former President Obama for over $200,000, and is married to a pro-abortion activist.  You might remember Judge Orrick from 2015 when he blocked the release of videos made by the Center for Medical Progress, the group that unveiled Planned Parenthood’s participation in the sale of organs harvested from aborted children.

Having spent over 30 years deep in the weeds on the actuarial side of trade and economics, I can guarantee you there’s a generational need to completely reset all frames of reference when it comes to imports, exports, and U.S. trade principles in general.

It is no longer worthwhile even beginning a conversation around the arcane concept of “free trade”, especially when discussing commodities and agricultural trade.  The “free market” was structurally disassembled years ago when multinational corporations began using the business end of agriculture to create investment and global profit via Wall Street.

The BIG AGRICULTURE legislative lobbying groups are funded -much like the U.S. CoC- with multinational corporations and multinational investment banks.  Agricultural prices, formerly referenced on basic supply and demand principles have been bastardized through global purchases, and contracts therein, of U.S. farm products.

Simple question to understand the dynamic: “If there is such a U.S. glut of raw milk, then why has the 10-year price of milk skyrocketed”?  Within the answer to that question you realize the product is not domestic.  It is controlled by multinationals, exported under controlled contract, and the domestic price (you pay) driven by global trade not domestic production/consumption (supply and demand).

The inverse (import pricing) is also true.  We’ve been getting screwed by the multinational interests of global trade for decades.  This is NOT ‘free trade’.  The BIG CLUB owns the process (inputs and outcomes) and manipulates the market in their interests, not yours. There simply is no “free market”.

[TRANSCRIPT] – 3:14 P.M. EDT – THE PRESIDENT:  Busy day.  They had a very busy day — had a good day.  We’re doing well, very well.  Things are turning around.  I know they’re turning around for you folks, so I just want to welcome you very much to the White House — special place — America’s farmers and ranchers.

I especially want to congratulate Secretary — now I can say, Secretary Sonny Perdue, who was just sworn in as the Secretary of Agriculture — (applause) — sworn in by Justice Thomas.  And it was a beautiful ceremony, and we’re going to celebrate a little bit later, and that’s great.  We’re very happy.  And you had a good vote too.

SECRETARY PERDUE:  Yes, sir.

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A newly empowered Chris Wallace takes the big government Fox Media position and begins arguing with OMB Director Mick Mulvaney.   Interested observers will note Wallace defends the U.S. CoC lobbying position around the budget, health care, the border wall, the imminent risk of government shutdown, Trump’s “first 100 days”, necessary tax cuts, cuts to environmental protection etc.

It can be frustrating to watch because Chris Wallace is arguing the exact positions of Tom Donohue, the U.S. CoC and the K-Street swamp’s corporatist lobbyists.

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In advance of a generically created media 100 day way-point to judge the presidency, ABC/Washington Post deliver a poll today (full pdf below) to begin framing the week long narrative.

The direction taken by political narratives is mostly due to a loose coalition of like-minded ideologues within politics and media.  People who run in the same circles, attend the same cocktail parties and gather at the same conventions and group meetings.  The current ‘anti-Trump administration’ approach is no different from prior 2016 election assemblies.

Tomorrow in Chicago, former President Obama is anticipated to rally the ideological resistance to current President Trump.  Enhancing the weekly set-up is a poll from ABC and the Washington Post constructed to cast a negative light upon Trump.  It’s the same formula used in the 2016 election assemblies.

It becomes exhausting, and really quite futile, to dig through the poll construct.  Yes, the pollsters over sample anti-Trump groups, and yes they under sample those methodological groups who would be more favorable in their opinion of Trump’s efforts.  The transparency of the intention is evident within the data they assemble, and even more so within the way ABC/WaPo specifically highlights the data and focuses the attention of the consuming reader or reviewer. (more…)

All eyes are on the French Presidential Election (Round #1) being held today.  There are multiple candidates but only the top two go to round #2.  Most predictions have Marine Le Pen and Emmanuel Macron as the top two candidates.

UPDATE: 5:30pm EDT  Surprising most of the liberal punditry, and contradicting most of the earlier exit polls, Marine Le Pen has won the first round over her closest rival Emmanuel Macron (link):

Francios Fillon conceded and endorsed the political establishment favorite Macron.  Melenchon has refused to endorse anyone.  As expected the national runoff will be:

Marine Le Pen -vs- Emmanuel Macron

Similar to Hillary Clinton, Macron will carry the endorsement of the professional political class and all of the left-wing French media.  Similar to Donald Trump, Marine Le Pen will be running as an outsider against the entire political apparatus and the media machine.

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There is a massive psy-ops and social media propaganda campaign currently being pushed by the Venezuelan government in order to cover for their violent responses toward the average citizen in the country.  Liberal/Hollywood media are lax in covering the crisis because Venezuela represents a failure of their previously heralded socialist state.

What is continuing to happen in Venezuela is heartbreaking. Today Venezuela’s opposition march in silence honor a dozen people killed during protests demanding that the government of President Nicolas Maduro hold delayed elections and address a growing economic crisis. Watch:

Added STs
PLEASE watch, forward 2 @POTUS

We can’t sit by & do nothing
simply because Venezuela isn’t on anyone’s talking pt#SOSVenezuela? pic.twitter.com/auYIpHPf3K

— Из России с?MamaReg (@MamaReg2) April 22, 2017

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Twelve people have been killed in a renewed wave of demonstrations this month in incidents primarily involving security forces or armed civilians. Another eight were electrocuted in a looting incident that took place following a protest as people search for food.

No Comments #MarchaEnSilencio #Caracas #Venezuela pic.twitter.com/J8WTTjr8xY

— Laura Machado (@machadolarralde) April 22, 2017

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