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Trump Remembers the Forgotten December 10, 2019

Posted by Dr. Robert Owens in Politics, Politiocal Philosophy, Uncategorized.
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Not so long ago Washington all but gave up on our country’s blue-collar workers.  They washed their hands of those in the supposedly outdated manufacturing and energy sectors.  The message the perpetually re-elected and their bureaucratic “experts” tried to sell us through their media megaphone was that with the rise of globalization these industries were hopelessly in decline.  According to them for the vast portions of the country they contemptuously call the “Rust Belt,” there was nothing anyone could ever do to change that.

Mocking then-candidate Donald Trump’s pledge to bring these jobs back President Obama asked, “What magic wand do you have?”  It turns out no magic wand was necessary.  All we needed is a President willing to fight for the forgotten workers across America with policies that put U.S. industry first instead of ones that sold us out to the globalists.

Beginning as soon as he entered the Oval Office President Trump turned the accepted wisdom of the inside-the-Beltway Deep State on its head.  Instead of going along to get along the populist president repudiated the globalist agenda of the Bush-Clinton-Obama triumvirate.

He cast aside the downward trajectory of managed decline and adopted a policy agenda that’s made life easier for America’s working people and the small businesses that employ the majority of them.  He passed the biggest employer and worker tax cuts in a generation.  He mandated deregulation across the board.  And defying the naysayers he’s negotiated new trade deals that have one goal in mind; make America great again by putting the interests of America first.

These bold moves have helped drive the unemployment rate to a 50-year low.  And according to Investor’s Business Daily the Trump economy is creating factory jobs ten times faster than under the Obama administration.  Blue-collar jobs are surging for the first time in decades.  Since President Trump’s inauguration 523,000 manufacturing jobs have been added.  Compare that with the 287,000 created during President Obama’s final three years in office.

In August, 2019 while touring Shell’s new Pennsylvania Petrochemicals Complex President Trump sought to explain that it’s a new dawn for American energy and manufacturing.  In his remarks he said, “With your help, we’re not only unleashing American energy we’re restoring the glory of American manufacturing, and we are reclaiming our noble heritage as a nation of builders again.  The critics expected you to stay on the sidelines, silence your voices, and surrender the future of our nation.”

In December of 2018 the Wall Street Journal reported, “The U.S. became a net exporter of oil and refined fuels last week for the first time in decades, a symbolic milestone that would have seemed unthinkable just 10 years ago.” Today America is the largest crude oil producer in the world.  Until the Trump Bump none of this was considered possible.  Now the world is filled with possibilities.

On August 19, 2019 while speaking at the Detroit Economic Club Vice President Mike Pence said “Wages are rising at the fastest pace in more than a decade.   And maybe most important of all to the President and me: that wages are rising fastest for blue-collar working Americans. The forgotten men and women of America are forgotten no more.”

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

Trump Negates a Nasty Narrative   December 4, 2019

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Remember journalism?  This was an archaic art form once practiced by investigative reporters who tried to discover the truth and then inform others of what they found.

While true objectivity is a mirage or an Historian’s joke, once upon a time there were people who attempted to present the facts and then allow readers, viewers, or listeners to decide for themselves.  We called them jour·nal·ists.  In today’s hyper-partisan world of Spy vs. Spy corporate tit-for-tat attack media, true journalism has been abandoned.  People like James O’Keefe of Project Veritas who actually investigate and report are treated as tinfoil hat wearing denizens of the fringe by the hacks infesting the Corporations Once Known as the Mainstream Media.

As a case in point one of the most virulent myths that have metastasized through the chatocracy bouncing like a Ping-Pong ball from talking head to talking head is the lie that President Donald Trump is a racist who described the neo-Nazis who rallied in Charlottesville, Va., in August 2017 as “fine people.”  This Faustian fabrication twists the words of the President whose statement with regards to the tragic incident in Charlottesville clearly related to those on both sides of the Confederate monument debate.

Judge for yourself.  Here are the actual words of the President at a news conference shortly after the Charlottesville incident:

“Excuse me, they didn’t put themselves down as neo-Nazis, and you had some very bad people in that group.  But you also had people that were very fine people on both sides.  You had people in that group – excuse me, excuse me, I saw the same pictures you did.  You had people in that group that were there to protest the taking down of, to them, a very, very important statue and the renaming of a park from Robert E. Lee to another name.”  Then, in answer to a misleading follow-up question, the President further clarified his meaning by stating, “I’m not talking about the neo-Nazis and white nationalists because they should be condemned totally.”

The Democrat Media’s blatant rewriting of history in this case has been so outrageous it has even earned a challenge by CNN’s political commentator, Steve Cortes, when he stated, “As a man charged with publicly explaining Donald Trump’s often meandering and colloquial vernacular in highly adversarial TV settings, I appreciate more than most the sometimes-murky nature of his off-script commentaries.  But these Charlottesville statements leave little room for interpretation.  For any honest person, therefore, to conclude that the president somehow praised the very people he actually derided, reveals a blatant and blinding level of bias.”

And if the President was not clear enough about his views at the news conference his words in a subsequent statement condemning the attack that killed a counter-protestor at the white supremacist rally in Charlottesville, Virginia should have laid the racist talking point to bed.  In that statement the President said, “Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.”

Later after the shooting in El Paso the President said, “In one voice, our nation must condemn racism, bigotry, and white supremacy. These sinister ideologies must be defeated.  Hate has no place in America.”

In their epic battle to maintain the chains of their nearly universal hold on the Black vote the democrats masquerading as journalists will go to any lengths to keep the Charlottesville hoax alive.  Repeating their lies over and over on every network and in every newspaper they hope the width, depth, and volume of their calculated cacophony of criticism will fulfill the cynical belief espoused by Nazi propaganda minister Joseph Goebbels when he said, “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.”

Those who refuse to believe the truth will believe the lie.  The denizens of the Deep State swamp know this and the second part of Goebbels’ quote clarifies the goal of their efforts; “The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Truth is their enemy.  Truth is our ally.  Turn away from the false narrative of the echo chamber commentary and read for yourself the words of our President and watch as Trump Negates a Nasty Narrative.

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

 

 

 

 

The Trump Bump Stumps Chumps November 12, 2019

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Here’s a sampling of some of the positive economic headlines and pull quotes after almost three years of President Trump’s effort to Make America Great Again:

Trump’s Economic Triumph: “Prosperity is increasing, and the less well-off are benefiting the most.”

Trump economy is really experiencing a middle-class boom — this data doesn’t lie: “Median household incomes under Donald Trump have soared from $61,000 to an all-time high of $66,000 in less than three years into the Trump presidency. This is tremendous news and documents substantial middle-class prosperity in Trump’s first three years in office.  The $5,003 rise in middle-class incomes is especially impressive given that incomes only rose by $1,200 in the seven years under Obama”

Trump’s Economy Is Working for Minorities: “The U.S.’s long economic expansion has been particularly beneficial for minority workers. … The unemployment gaps between both blacks and whites as well as Hispanics and whites have reached all-time lows. It’s not just that the job market has been good: For minorities, it has been historically good.”

Trump economy surges while Biden and Obama hog the credit: Middle-class incomes have grown almost three times faster under Trump than under Obama. This is like trading in a Pinto for a Porsche and as you’re flying down the highway saying it’s just a trend.  Small business and consumer confidence as well as the stock market surged in the days after the Trump election and have stayed high ever since.  Coincidence?  Hardly.

More to the point, most of Trump’s policies have been to reverse Obama policies, not to continue them. Obama raised tax rates; Trump cut them . Obama grew regulations at a record pace; Trump has been rescinding them at a record pace.  Or as the Washington Examiner expressed it, “Trump kills 16 regulations for every new one, crushing the 2-for-1 goal.”  Obama negotiated the Paris climate accord — a $100 billion tax on the American economy — and Trump smartly pulled us out.

What’s next?  Will Jimmy Carter start taking credit for the Reagan boom?”

Of course the Corporations Once Known as the Mainstream Media work overtime filling the airwaves, headlines, and the wall-to-wall cable chatocracy with fake news telling us how lower taxes and less regulations will destroy of the American economy.

In reality, the Trump program of tax cuts for workers, deregulation, and policies that put American industries first—from farmers to manufacturers to energy producers—is finally allowing the United States to negotiate from a position of strength.

The fact is that the self-appointed experts who broke our economy have no idea how President Trump is fixing it.  The very thought that free enterprise, individual liberty, and economic opportunity might be just what’s needed to reinvigorate the over-regulated and centrally-planned nation in decline they devised doesn’t even register as a possibility.

American jobless claims fall week after week.  This means fewer of our citizens have to file for unemployment benefits in what is now a strong labor market.   Surprise – surprise – surprise the democrats who pose as reporters and their in-house economists didn’t see that coming.  Did you ever notice how every positive report is accompanied shock and bewilderment.

While the economy is surging across the board for an example of why let’s take a moment and think about the so-called trade war with China.  For years, both Democrats and Republicans promised to hold Beijing accountable for breaking the rules on trade. For instance China is responsible for 87 percent of the counterfeit goods seized entering America which costs us an estimated 600 billion per year.  Its intellectual property theft is estimated to cost U.S. employers another 600 billion each year.  Its average tariff rate on our goods entering their country is nearly three times what we charge them.

Unlike past leaders, President Trump is actually keeping his promise to make China play by the rules. The socialists don’t like that.  They’ve argued for years that upsetting the Chinese communists by calling them to account will hurt our economy.

But that doesn’t appear to be the case.

Andy Puzder the former CEO of CKE Restaurants wrote for Fox News: “Here in the U.S. – despite claims that tariffs would end the current economic recovery and increase consumer costs – our economy remains the envy of the world.  Inflation is in check, unemployment is near a half-century low, wages are surging, and economic growth is continuing to beat expectations.”

Puzder continued, “A skilled negotiator like President Trump knows that you should never rush into a deal, even if the political benefits are compelling.  As a nation, we would eventually pay the price for a deal driven by politics rather than substance.”

How is President Trump’s policy of standing up for America impacting China?  President Donald Trump’s top economic advisor Larry Kudlow said on CNBC’s Squawk on the Street. “The Chinese economy is crumbling. It’s just not the powerhouse it was 20 years ago. …  Any long chart of Chinese investment or economic metrics shows a steady downdraft.  …  Their GDP, which is probably inflated by several points, is coming in lower and lower. …  The economic burden of these tariffs is falling almost 100 percent on China.”

As highlighted above the Trump Economy is already strong, especially for the blue-collar workers who need it most.  Once the President’s America First policies persuade China to end its decades-long trade war on America, the United States’ economic future will be shining like a bright sunrise after a long dark night.

So while the left’s continually surprised self-appointed experts claim President Trump doesn’t know what he’s doing on trade or the economy the results prove they’re the ones being schooled by the reality of the Trump Bump or as my purposefully attention grabbing alliterative title puts it, “The Trump Bump Stumps Chumps.”

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

President Trump’s Pledge to American Workers October 29, 2019

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According to K1FO News President Trump’s agenda is driving an economic resurgence.  The President’s agenda is creating more and more opportunities for American workers.

  • More than 5.3 million jobs were created between President Trump’s election and his second State of the Union Address alone.
  • June 2019 marked the 16th consecutive month that America’s unemployment rate remained at 4 percent or below.
  • In early 2019, wage growth for U.S. workers hit its fastest pace in a decade.

K!FO goes on to say, “This high-energy growth environment presents both a challenge and an opportunity. The challenge is that companies must find more workers with specific skill sets to fill an increasing number of open jobs. The opportunity is that with more affordable, relevant training, many American workers will now have the chance to move into better jobs that deliver bigger paychecks.”

As another step in his effort to fulfill his pledge to make America great again the President’s National Council for the American Worker was established by President Trump in 2018.  This council soon launched its flagship program Pledge to America’s Workers.  This is a program designed to lead the way in inspiring American entrepreneurs and educators toward the goal of training and equipping people with the 21st Century skills they need to succeed and our economy needs to excel.

By July the program signed on more than 20 companies and business groups.  The leaders of these various enterprises committed to hire or train more than 3.8 million workers over the next five years.  By 2019, just one year later, over 300 companies and organizations have taken the pledge.  Over the next five years this will produce a total to over 12 million new training opportunities for students and workers.

What prompted the President to move in this direction is the well-known skills gap in today’s labor force.  In an America recovering its manufacturing base with a booming construction industry, and a consumer market following the stock market through the roof employers are having a hard time finding qualified people to fill their rapidly rising number of open positions.  There seems to be a “Help Wanted” sign in front of every factory and in the window of every store, restaurant, and office.  After President Obama’s “New Normal” and in the wake of the Trump Bump there are roughly 1.3 open jobs for each unemployed worker.

According to a report by the American Action Forum (AAF) his shortage of qualified workers is projected to cost our economy $1.2 trillion over the next 10 years.  And this isn’t just a problem for one sector of the economy or a select few entrepreneurs.   According to a report by the Association for Talent Development 83% of employers reported difficulty finding workers with the right skills.  This tightening labor market provided fertile ground for President Trump’s initiative.  Some of the largest corporations in America have taken the pledge including Walmart, Microsoft, FedEx, Lockheed Martin, AT&T, the National Retail Federation, and Associated Builders and Contractors.

As Tamar Jacoby, president of Opportunity America, a think tank focused on economic mobility puts it. “It’s true that there’s been a need to really kick some employers in the pants, basically, or politely get them to volunteer to do more. You can’t fix the skills gap; you can’t train workers for jobs unless you involve the people who are going to hire them.”

Reflecting on the tight labor market that has inspired so many employers to join in President Trump’s imitative Tara Sinclair, George Washington University professor of economics said, “Employers might have been reticent before to [train workers] because it’s spending money on something, and employers want to avoid that where they can.”

As reported from several sources some of America’s largest corporations have taken the pledge and have made specific promises to hire and train thousands of Americans to compete in the economy of the future.

Lockheed Martin

Lockheed Martin (LMT) the aerospace giant announced it is investing $5 million in vocational and trade programs and pledged to create 8,000 new jobs for skilled workers over the next five years.

After visiting Lockheed’s facilities Ivanka Trump, the president’s daughter, advisor and co-chair of the American Workforce Policy Advisory Board said, “Through Lockheed Martin’s Pledge to America’s Workers commitment, and the booming American space industry, we are at the forefront of the changing nature of work, from the use of artificial intelligence to advanced manufacturing.”

Walmart

Walmart operates more than 5,000 stores across the U.S. and Puerto Rico.  A year after joining the pledge, Walmart (WMT), which pledged to provide training for 1 million people over the next five years, is ahead of schedule, having already trained 200,000 people.  Walmart spokesperson Kory Lundberg said, “If you are confident in doing your job, you’re going to be better at it. You’re going to be better able to take care of customers, it’s going to result in a better experience for the worker, it’s going to result in a better experience for the company.”

FedEx

FedEx (FDX) pledged to train 512,000 workers across the country over the next five years.  When he joined the pledge last year, FedEx CEO Frederick Smith, who is a member of the White House’s American Workforce Policy Advisory Board, said, “We are encouraged by the Administration’s commitment to ensuring American workers develop the appropriate skills and have access to the training needed for today’s in-demand jobs and the jobs of the future.”

Hill International Trucks

Hill International Trucks which employs more than 230 workers pledged to hire and train 50 workers over the next five years.  Hill International Trucks’ spokesperson Renee Murphy stated, “I think it’s great that the White House has this initiative, especially in our industry and it’s becoming increasingly challenging to find these skilled labor positions. So the more training and partnerships that we can have out there between businesses and schools, I think the better.”  He went on to say, “The Company is investing $95,000 per technician over the next five years.”

This is just a sampling of what’s been accomplished.  While the nation’s headlines and talking heads are consumed with the propagating a smoke screen for the on-going coup attempt President Trump and his team continue to work tirelessly to Make America Great Again.  The unprecedented accomplishments of America’s blue-collar billionaire may be buried under an avalanche of fake news but no one can hide the renaissance that’s taking place in the lives of working Americans.  And though the denizens of the swamp may think they’re making progress in the attempt to reverse the results of 2016 the landslide of 2020 should re-focus the lens of History.

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

 

 

MAGA Raises For American Workers October 16, 2019

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“If it bleeds it leads” is how the old saying concerning media attention goes.  And with the anti-Trump mob smelling blood in the water all we hear is “IMPEACH!! IMPEACH!!! IMPEACH!!!!” as if repeating this mantra over and over will make their dream of reversing the results of the 20916 election come true.  And because of this obsessive compulsion to control the narrative the good news concerning America’s economy is buried below the fold on page 57 of the classifieds.

However, as is always the case eventually the truth comes out.  President Trump, the blue collar billionaire, who sacrificed living the dream to living in a fish bowl filled with sharks, continues to work with little fanfare and less credit to improve the lives of American citizens.

As an example let’s look at the wages of American workers.  According to the Pew Research Center as of 2018, “despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago.”  Of course this report in 2018 was chronicling the findings from 2017 as the nation began to stir after years of the Bush-Clinton-Bush-Obama managed decline model.

Even as the relentless and furious attempt to reverse the 2016 election continues the positive changes initiated by President Trump are fighting through a log jam of phony charges and kangaroo hearings to benefit the citizens of our great republic.  Today it’s morning again in America as the Trump Bump gathers steam bringing concrete benefits all of us.

On July 24th the Bureau of Economic Analysis (BEA) published its annual revisions to personal income data.  This download of data included a pleasant surprise.  There was a notable increase in disposable income and employee compensation.

These revisions showed employee compensation rising 4.5% in 2017 and 5% in 2018—some $4.4 billion and $87.1 billion more than previously reported. The trend has continued into 2019, with compensation increasing $378 billion or 3.4% in the first six months alone. Wages and salaries were revised upward to 5.3% from 3.6% in May year over year. And in June wages and salaries grew at an annual rate of 5.5%, which is a rocking 4.1% after adjusting for inflation.

The BEA also revised overall personal income up by 1.7% for 2017 and 2018 and transfer receipts down 0.7%.  What does this mean?  It shows that Americans are earning more and relying less on government.

As an example of Americans becoming more self-reliant we can look at the precipitous decline in the number of people who require food stamps to maintain a healthy diet.  According to Fox News, “The latest intel from the U.S. Department of Agriculture (USDA) affirms that the amount of food stamp beneficiaries reached 40,083,954 in March 2018. The foregoing number is the lowest since February 2010. Experts have moreover attributed the decline to crackdowns on fraud within the food stamp program, coupled with President Trump’s economic improvements.”

In addition the BEA report also offered a revision in the personal savings rate.  The government’s estimates were increased by $217 billion for the first two years of the Trump administration and are now $1.3 trillion, which means Americans are saving more of their earnings.

The BEA report continued uncovering more positive information concerning savings.  It revised the personal savings rate upward to 8.1% from 6.1% in May, which is much higher than the roughly 5% before the last two recessions. This should make the current economic expansion more sustainable since consumption isn’t based on increased household debt consumer spending is increasing as wage growth grows due to a tight labor market.

Just think for a moment about how the liberal media endorsed President Obama’s “New Normal” as the reason worker incomes weren’t growing faster during the previous administration.  Then came Trump: and today employee compensation has increased by $150 billion.  That is more in the first six months of 2019 than in all of 2016.  Let this comparison sink in.  It is even more pronounced when we look at the first two years of the Trump Presidency: compensation increased 42% more since Trump’s inauguration than in 2015 and 2016 combined.  This completely discredits the claim that the economy is merely continuing the same trajectory since 2017.

This all flows as naturally as water over a cliff from President Trump’s two pronged plan to revitalize America.

First there is the on-going effort to scrap the economic strangulation of regulation.  According to the Washington Examiner, “Deregulation explodes under Trump, 13 regulations killed for every new one, $33B saved.”   This unleashes the entrepreneurial spirits of Americans.  Just think about the fact that after decades of promising energy independence while restricting where and how we could drill for oil or dig for coal after just three years of Trump’s “Drill Baby Drill” policies and the removal of oppressive regulations we’ve become the largest producer of energy in the world.

Secondly there is Trump’s tax reform.  This has inspired businesses to invest in new facilities and equipment.  In the long run this investment will lead to higher worker productivity and wages.

And we are endlessly bombarded with the story that the profits of the 1% are far out pacing the financial benefits of the 99.  This doesn’t seem to match a statement found in the Wall Street Journal, “Corporate after-tax profits increased by about $220 billion between 2016 and 2018 while employee compensation swelled nearly $1 trillion. Corporate profits declined 2.9% in the first quarter of 2019 even as wages grew at an annual rate of 10.1%. This sure sounds like an economy that is benefiting the 99%.”

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

 

Show Me The Money October 9, 2019

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The Laffer Curve is a theory developed by supply-side economist Arthur Laffer to show the relationship between tax rates and the amount of tax revenue collected by governments. The curve is used to illustrate Laffer’s argument that sometimes cutting tax rates can increase total tax revenue.  The Laffer Curve is alive and well in the Renaissance America of President Donald J. Trump.  As a matter of fact the policies of the Trump Administration have demonstrated that the Laffer Curve isn’t constrained by international borders.

You see Trump’s 2017 tax reform is delivering on its promise to bring money back to the US from overseas by making America more competitive.

Before this monumental tax reform the US had one of the highest corporate tax rates in the world.  And on top of that we had a worldwide tax system that compared unfavorably with the territorial systems in 28 of the other 36 countries who are members of the Organization for Economic Co-operation and Development (OECD).  The OECD is an intergovernmental economic organization founded in 1961 to stimulate economic progress and world trade.

This worldwide tax system taxed the foreign earnings of US corporations once their overseas profits were brought home.  This provided a massive incentive for our corporations to park their earnings from foreign subsidiaries offshore.  In the year before Trump’s tax reform US corporations had more than $2 trillion stashed overseas.

Besides this massive reduction in available capital in the US these incentive draining tax policies led many US firms to implement what came to be called “Inversion Transactions.”  This means they gave up their status as American corporations and reincorporated in foreign countries often through acquisitions and mergers.

The 2017 tax reform bill President Trump proposed and shepherded through Congress has radically changed all this.  This history making law lowered the corporate tax rate from 35% to 21% and it also allowed US companies to bring money home from their foreign subsidiaries at the much reduced US tax rate.  On top of that the bill also made changes to laws which address the ownership and profitability of intellectual property.  Under the previous laws there were economic incentives to locate the ownership of intellectual property in low-tax foreign countries.  That has now been reversed and American is once again the best place on earth to innovate.

The new Trump inspired program has erased the lure of corporate inversions and fostered an economic environment where the US is once again an attractive and competitive place to host international businesses.  And there is even proof in a two real world multi-billion dollar examples: The AbbVie acquisition of Allergan and the new Pfizer-Mylan combination.

According to Fox Business News, “Allergan was previously a U.S. company, but in 2015, it became an Irish company through a merger with Actavis.  Mylan also was previously a U.S. company, but in 2015, it became a Dutch company. The adverse U.S. tax rules, coupled with low foreign tax rates and territorial tax systems, made it advantageous for the companies to shield non-U.S. income from the reach of the U.S. tax system by becoming incorporated and headquartered overseas.

AbbVie itself tried to invert in 2014, but the Treasury Department blocked its effort. A recent Bloomberg story noted, ‘A few years ago, this deal would likely have gone differently – Allergan would be the one buying AbbVie.’

The 2017 tax reform changed that. Representative Kevin Brady (R-TX), who led the congressional battle for tax reform as Chairman of the House Ways and Means Committee, said following the announcement of the AbbVie-Allergan transaction that, as a result of 2017 tax reform, ‘companies can domicile here and stay competitive throughout the world.’”

And as Robert Willens, an independent tax consultant told Bloomberg, “Unlike an inversion where U.S. income is transformed into foreign income, in the instant case, the polar opposite may well occur since, here, foreign income might be transformed into U.S. income.”

So how is this working today?  According to Investor’s Business Daily, “They said it wouldn’t happen, but it did: The money companies stashed overseas to protect them from high U.S. corporate tax rates is flooding back in, boosting growth, jobs and confidence in the economy. Thank the Trump tax cuts.

All told, the Bureau of Economic Analysis (BEA) reported, some $305.6 billion returned to the U.S. from overseas accounts. That’s a $1.2 trillion annual rate, and far more than the $35 billion one year before.”

By changing incentive-killing tax laws which appeared to be more like confiscation and the punishment of success President Trump is making America more competitive which is how he planned all along to Make America Great Again.

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

 

 

 

Finally the Right Prescription for Runaway Drug Prices September 24, 2019

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For as long as most of us can remember we have paid substantially higher prices for prescription drugs than the citizens of other countries. In Congress there’ve been endless speeches about the skyrocketing cost of medicine for American patients, especially senior citizens.  And every election cycle there are campaign promises from both the Republicans and the Democrats who talk and talk but they’ve never done anything about it.

Until now that is.  President Donald Trump continues his revolutionary idea of actually trying to fulfill his promises.

On the morning of July 31, 2019 the Trump Administration announced a new plan to effectively address this long festering situation.  This brilliant plan allows companies to import drugs that are sold in other countries.  This will save Americans money.  Under the newly announced Trump plan Manufacturers can now bring the lower-cost versions of the drugs they sell abroad home to the United States.  Of course these drugs will still be verified by the FDA as meeting our safety standards and identical to what is currently available.

Here’s the sad state of affairs that our leaders have for so long forced us to labor under.  Foreign countries buy their drugs at substantially lower prices.  This means that American patients subsidize the cost of drug research and development for the rest of the world. And that costs us vast sums of money each year both personally and nationally.  Often prescriptions costing hundreds of dollars in the U.S. will cost just a few dollars overseas.  As in so many of the deals our give-away-the-store negotiators have maintained for so many years, American citizens get the worst deal.

This broken and unjust system not only hurts patient’s pockets it costs taxpayers billions. Here’s one example: a medication that helps prevent blindness that annually costs Medicare more than one billion dollars would cost 187 million dollars if instead we paid the prices other countries pay.

Big Pharma has been against any change because they’re more than happy for the American citizens to be their ATM, financing their research and development while others reaped the benefit.  However, as Human Services Secretary Alex Azar said, “Access to affordable prescription drugs can be a matter of life or death for American patients. The President has heard how much this matters to Americans, and we at HHS have heard the same. We all know how unfair it is that other countries are paying lower prices for the same drugs, and we’re taking action.”

The July announcement moves toward fulfilling President Trump’s promise to make medicine affordable for all Americans.  After last year’s release of the President’s blueprint to lower prescription drug costs for the first time in forty six years, according to the government’s inflation index as of December 2018, drug prices dropped.

Referring to the unfair two tier drug prices American’s have labored under for so long President Trump said, “It’s time to end the global freeloading once and for all.”

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

Serving Those Who Served US September 11, 2019

Posted by Dr. Robert Owens in Politics, Politiocal Philosophy, Uncategorized.
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After the rollout of President Trump’s Maintaining Systems and Strengthening Integrated Outside Networks Act (MISSION Act) Veterans Affairs Secretary Robert Wilkie responded to the previously predicted problems on Military.com.  “One story said to ‘expect glitches.’ Another said it was ‘confusing.’ Some lawmakers who supported the bipartisan bill suddenly warned about the possibility of ‘overreach’ by the Trump Administration, while others warned of a ‘ tech nightmare.’  But thanks to thousands of dedicated VA workers around the country and President Donald J. Trump’s support for this historic reform, elements of the MISSION Act took effect on June 6, and veterans immediately began benefitting from the largest transformation in veterans’ health care since the end of World War II.”

Secretary Robert Wilkie went on to clarify what this fundamental change in the services we offer to those who answered the call and fought for our freedom and our interests around the world is.  “At its core, the MISSION Act reflects the President’s vision that veterans need to be at the center of their health care decisions. If it’s too long a drive to the VA, if wait times are too long, if we can’t offer the services a veteran needs, or if it’s simply in the best medical interest of a veteran to use non-VA services, they can now seek care in their community.

That change was a long time coming for our rural veterans, many of whom live nowhere close to a VA hospital or clinic. And it’s much more than just an extension of the Choice program enacted under President Obama. That program was temporary, narrow and incomplete, while the MISSION Act is permanent and will put a much broader group of veterans in the driver’s seat when it comes to their health.

The response from those who wore the uniform to defend this great Nation was immediate and sustained. A tool we developed to decide whether veterans are eligible for community care is being used tens of thousands of times each day.

The MISSION Act also created an urgent care benefit that finally gives veterans what others have in their neighborhood; access to nearby care to treat ailments that need immediate attention, like the flu or a sprained ankle. One veteran in Texas said this change is a ‘godsend’ because under the old system, getting a sore throat treated meant a 45-minute ride each way to the VA.

And he’s not alone. Thousands of urgent care visits have been scheduled for veterans under the MISSION Act. By mid-July, we were starting to exceed 500 visits each day, and that number has been growing each week as veterans learn more about this important new benefit.

In the end, the MISSION Act simply gives the VA what all other major healthcare systems have — a way of referring patients to outside care when needed. Community care is one piece of that, as is the new urgent care benefit. We have nearly 5,000 urgent care providers in our network so far, and that number is expanding as we continue to provide veterans with more options to get care when and where they need it.”

After years of neglect a broken system is getting fixed.  During his historic campaign in 2016, then candidate Trump called out the VA for its failure to meet the needs of America’s heroes.  It was a broken system that no president had been able to cure.  Now after two years in office we’re finally on the road to serving those who served US thanks to the vision and leadership of America’s blue-collar billionaire, President Donald J. Trump.

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

Stand Up for Americans Who Stand Up for America August 27, 2019

Posted by Dr. Robert Owens in Politics, Politiocal Philosophy, Uncategorized.
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On July 29, 2019 President Donald J. Trump signed into law a permanent authorization of the 9/11 Victim Compensation Fund (VCF).  This fund provides financial support for families who lost their loved ones as a result of the September 11 attacks.

The VCF was initially created in 2001 and ran through 2004. It was revived in 2011 and went into law in 2015, but it only gave victims the opportunity to make claims until 2020.  The new bill signed by the president allows victims to make claims until 2090.

During its first four years, the fund gave out $7 billion to the families of more than 2,880 people who died and to 2,680 people who were injured in the 9/11 attacks.  When it was reactivated in 2011, it expanded eligibility and allotted $2.775 billion. The fund was set to end in 2016, but in 2015, Congress and President Obama allowed for the bill to continue another five years, until 2020, with another $4.6 billion.  That left the VCF with a total of $7.375 billion. As of May 31, more than $5.174 billion has been given out to 22,500 victims of the attacks.

However, more than 40,000 people have applied to the VCF, which covers illnesses potentially related to being at the World Trade Center site, the Pentagon, or Shanksville, Pennsylvania, after the attacks. There are about 21,000 claims pending.  Officials estimated it would take another $5 billion to pay pending claims and the claims that officials anticipate will be submitted before the fund’s previous December 2020 deadline.

VCF’s Special Master Rupa Bhattacharyya said, “The plain fact is that we are expending the available funds more quickly than assumed, and there are many more claims than anticipated.”  She added, “A total of 835 awards have been reduced as of May 31.”  The Justice Department said in February that the fund is being depleted and that benefit payments are being cut by up to 70 percent.

Realizing that the periodic Congressional haggling over funds for VCF was causing added stress to the victims and their families President Trump’s new bill appropriates such funds as may be necessary to pay all approved claims. The new bill also allows claimants to be paid what was reduced from their initial amount and remove the cap on noneconomic damages in specific circumstances.

More than 100 Americans who were personally affected by the devastation of the September 11 attacks joined President Trump at the Rose Garden signing ceremony. These individuals included first responders, survivors, and family members of victims.

In his speech President Trumps said, “Today, we come together as one nation to support our September 11th heroes, to care for their families, and to renew our eternal vow: Never, Ever Forget.  Our nation owes each of you a profound debt that no words or deeds will ever repay.  But there is something we can do.  We can and we will keep our nation’s promise to you.”  Honoring those who honor us with their sacrifice and service President Trump continued, “To every 9/11 hero, you poured out your heart, your sweat, your soul, and everything you had for your country.  You went back day after day and night after night to save lives and return the fallen to their families, to rebuild and recover, and to show the entire world that nothing will ever break America’s spirit.  They fought to rescue every person trapped in the rubble, and then searched for months to find the remains of the fallen. The love and loyalty of our 9/11 responders knew no bounds.”

In the years since we were attacked more than 2,000 first responders and survivors have passed away from illnesses directly related to the toxic fallout from those attacks.  Even today, thousands more are battling health problems stemming from that day in American history.  Thanks to the leadership of President Trump The 9/11 Victim Compensation Fund will now provide them with permanent support.

In an age when people who kneel for our national anthem and burn our flag are called heroes by many including the Corporations Once Known as the Mainstream Media, President Trump continued to stand up for Americans who stand up for America when he made the 9/11 Victim Compensation Fund permanent.

May God pour out His blessings upon the surviving victims of 9/11, their families, and the families of the fallen.  May God bless President Trump for leading us in honoring their sacrifices.  And may God bless the United States of America.

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens

 

 

 

 

 

Trump Works For US August 13, 2019

Posted by Dr. Robert Owens in Politics, Politiocal Philosophy, Uncategorized.
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While the Theater of the Absurd that is the modern American political scene tries to turn the “swing and a miss” collusion conspiracy into a do-over in the best Congress money can buy, President Donald Trump continues to go quietly about his business of making America great again.  

One year ago this past July President Trump inaugurated the Pledge to America’s Workers.  This is a program lead by his daughter and Advisor to the President, Ivanka.  As the number of job openings soars and the unemployment rate plummets to a near-50-year low, American wages, after hitting a decade long plateau, are starting to rise.  That’s great news.  But it comes with a daunting challenge.   With the tightening labor market American companies are struggling to find enough workers with the right skill sets to fill the open jobs. 

And that’s where the Pledge to America’s Workers comes in.  Last summer, President Trump inaugurated a new approach in an effort to bring more Americans off welfare rolls and unemployment.  He wants to see them reintegrated into the labor force.  To do this the President issued a challenge for businesses.  He asked them to actively create more opportunities for meaningful career training.  He asked that these new opportunities be available for students and workers of all ages. 

At a recent meeting in the State Dining Room of the White House to mark the first anniversary of the program Ivanka Trump said “Over the last year, more than 300 businesses and organizations, large and small, have signed our Pledge to America’s Workers, and today we celebrate reaching over 12 million pledges.”  Also at this meeting the National Association of Manufacturers announced they’ll become the latest organization to meet the President’s challenge.  The members of the Association include American manufacturing giants such as Caterpillar and Boeing.  With this addition another 1.2 million blue-collar workers will have a chance to enhance their skills under President Trump’s Pledge to America’s Workers initiative. 

Pointing to the expanding program and what it is doing to help every American benefit from the expanding economic boom Ms. Trump said, “Every single pledge is a commitment to the promise of an individual and his or her potential. We are changing the conversation on workforce development, so we can prepare for the jobs of today and tomorrow.” 

Thanks to President Trump for 12+ million commitments for meaningful career training and counting!  He’s working for US. 

Let’s talk about what’s right with America. 

Dr. Owens teaches History, Political Science, Global Studies, and Religion.  He is the Historian of the Future @ http://drrobertowens.com  © 2019 Contact Dr. Owens drrobertowens@hotmail.com   Follow Dr. Robert Owens on Facebook or Twitter @ Drrobertowens or visit Dr. Owens Amazon Page / Edited by Dr. Rosalie Owens 

 

 

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