Abbreviated pundit roundup: How Trump will affect your federal and state taxes, Medicare, and more

According to the Tax Policy Center, nearly half the benefits from the Trump plan would go to the top 1% of households—those earning more than about $700,000. It could also increase taxes on many single parents and two-parent families with more than two children

LeBron James, a vocal Clinton supporter, stands to save $2.3 million per year on his $31 million salary from the new three-year, $99.9 million contract if President-Elect Trump’s tax proposal is passed by a friendly and motivated Congress, LeBron James stands to save $15.16 million annually in federal income taxes, without considering the tax savings on investment income.

all that talk of “draining the swamp” and heralding in an era of transparency was, well, predictably just “talk”. Lynnley Browning at Bloomberg reports:

By tradition, sitting presidents release their returns annually, but there’s no requiring the president to do so. And there’s no indication that Trump plans to embrace that tradition.

federal funding for Medicaid. Trump and the Republicans plan on slashing that funding, which means your state will either cut the program in your state (resulting in more poor/sick people in your state which definitely affects you and your wallet) or your local taxes will go up because your state and its towns and cities will have to fill in the gap.

Trump and House Speaker plan to privatize Medicare. Privatization means you get a voucher from the government to go into the insurance market you hate to try and buy insurance.

Trump promised he would surround himself with the “best people” and people voted for him because they believed that once he office, he would rely on experts and get rid of the “establishment”? Not the case. As Paul Waldmanreports, Trump’s cabinet will be filled with his friends and yes-men, with nary an objective expert in the bunch (but a whole lot of politicians who have spent their lives in the “swamp” Trump supporters thought would be “drained”):

Rick Scott, possible HHS secretary.  he gained experience in the health care field as the head of the hospital company Columbia/HCA. he was in charge when it committed what at the time was the largest health care fraud in U.S. history, he could probably teach the founder of Trump University a thing or two.

the ethical issues plaguing Trump’s “best people”:

It was also surprising that Mr. Gingrich, of all messengers, came forth from the Trump inner sanctum on Wednesday to promise that the new administration would enforce“dramatically tougher ethics reforms.” As speaker, Mr. Gingrich had his own run-in with ethics standards in 1997 when the full House voted 395 to 28 to fine him $300,000 and reprimand him for using tax-exempt money to promote Republican goals and giving a committee untrue information.

On energy, Trump hands over our energy policy to the oil & gas industries. Zoë Carpenter reports at The Nation:

He’s tapped prominent climate skeptic Myron Ebell, who directs the Center for Energy and Environment at the conservative Competitive Enterprise Institute, to lead his transition team at the EPA, and Mike McKenna, an energy lobbyist who has worked for Koch Companies and Dow Chemical, to head the team at the Energy Department.

Republican Senator Lisa Murkowski, who chairs the Senate Energy Committee, declared shortly after the election was called for Trump that she will be pushing to open the Arctic National Wildlife Refuge in Alaska to drilling.

Trump has invested between $500,000 and $1 million in Energy Transfer Partners, according to his financial disclosure forms

Source: Abbreviated pundit roundup: How Trump will affect your federal and state taxes, Medicare, and more