Private prison investors (Pro slavery capitalist) set for giant windfall from Trump tax bill...

[Crude Abolitionist]

Individual investors in US private prisons are poised to collect their most lucrative earnings ever thanks to changes in the tax code signed by Donald Trump, continuing what has been a banner year for the industry since the 2016 election.

“It’s going to be great for the investors, banks and hedge funds that own shares in private prisons, and are dependent on increased incarceration and criminalization,” said Jamie Trinkle, campaign and research coordinator with the racial and economic justice coalition Enlace.

Under the new GOP law, investments in so-called “real estate investment trusts” (reits) will see a 25% reduction in tax, from 39.6% down to 29.6%.

Corecivic, formerly Corrections Corporation of America (CCA), and the Geo Group, which together own more than 80% of private prison beds in the US, both restructured as reits in 2013 after a private letter ruling by the Obama Administration IRS green-lit the change.

VV This what they think about us we are just dollar signs at this point. VV

prison companies have essentially argued that renting out cells to the government is the equivalent of charging a tenant rent, thus making such business primarily a real estate venture

Oregon Democratic senator Ron Wyden, a ranking member on the finance committee, has called the use of the reit structure by prisons “unfair” and “unjust”. In 2016, after being pressed by Enlace, he introduced legislation to end such practices. The bill was reintroduced this year but it has yet to make it out of committee and is not likely to do so any time soon.

A CoreCivic representative told the Guardian that, in their view, “there are far more pressing matters for Congress to pursue” than the reit tax classifications. The Geo Group added they are “treated exactly the same as other real estate investment trusts without any special tax treatments or loopholes”. The point that activists make, though, is that treating prisons as real estate is a loophole.

By February, Trump’s first full month in office, it had become clear that the new administration would discontinue Obama’s efforts to shrink the size of the US prison population. One of Jeff Sessions’ first acts as attorney general was to undo the DoJ directive phasing out private prisons. That month the two companies each reached two-year stock highs.

The tax bill gift to private prison investors mirrors the cosy relationship Trump has had with the industry overall. After years elsewhere, in 2017 the Geo Group hosted its annual leadership conference at the Trump National Doral golf club in Miami. The company also gave nearly half a million dollars to Trump through his inauguration committee and Super Pacs. Shortly thereafter, it secured the administration’s first contract for an immigration detention center, a deal potentially worth millions.

Despite all that momentum, though, Jamie Trinkle at Enlace still sees a potential for organizers to stem the resurgence of private prisons. Divestment campaigns have successfully pulled more than $4bn out of banks (principally Wells Fargo) and other organizations that invest in the industry.

“Since the tax benefit goes directly to the investors, I think the divestment work actually becomes more important as a way to fight back and stop the flow of capital,” Trinkle said.

Private prison investors set for giant windfall from Trump tax bill

“real estate investment trusts” is a Prison Slavery loophole basically they are getting a big tax cut so these police (slave catchers) have a bigger incentive to lock innocent people up. 2018 is going to be a great year for pro slavery capitalist. They need people to fill up these prison cells for pure profit.

This is slavery in Amerikkka INC. Its time that we get better at recognizing it for what it is.

Its time for us to come together and organize anyway we can to help end slavery for good. I am using my voice here on the Coli to spread the message of abolitionism.

Please educate yourselves and seek out any slavery abolitionist moments. Also here is a link to a very solid podcast on ending slavery.

 

[BaggerofTea]

As expected......

 

[Neuromancer]

fukk this place.

 

[Crude Abolitionist]

fukk this place.

Yep people always ask me what I'm mad for...

Legalized slavery.

However there are things we can do to fight (divest in slavery products, join abolitionist movements) which helps with my depression and anger.

I am going to go to a abolitionist meeting next month and I will be doing my part here to spread the word about ending slavery.

 

[Neuromancer]

Yep people always ask me what I'm mad for...

Legalized slavery.

However there are things we can do to fight (divest in slavery products, join abolitionist movements) which helps with my depression and anger.

I am going to go to a abolitionist meeting next month and I will be doing my part here to spread the word about ending slavery.

Where at?

 

[ORDER_66]

shyt is beyond disgusting... can't wait til I have make my millions and bounce.

 

[Crude Abolitionist]

Where at?

Texas. (Austin) to be exact.

I did a whole bunch of googling the other night and found a prison slavery abolitionist group where I live. I just started out typing the state I'm in followed by prison/abolitionist got alot of abortion crap but finally found what I was looking for. I am in a city with people who occasionally give a damn so I lucked out.

I posted what I found in the last thread I made check it out: http://www.thecoli.com/threads/pris...disproportionately-sick.597742/#post-27748725

 

[Crude Abolitionist]

shyt is beyond disgusting... can't wait til I have make my millions and bounce.

I feel conflicted because If I just up and leave without fighting the system it will just follow me wherever I go.

Yall do know GEO GROUP (private prison slavery institution) is in Africa? Africans locking up Africans in Africa for the profits that go back to pro slavery capitalist in Amerikkka. These private prison companies are global now. This is what people need to better understand.

Locations

Kutama Sinthumule Correctional Center (AFRICA)
Sparrow Road, Makhado, Limpopo 0920

Capacity: 3,024

Client: Republic of South Africa Department of Correctional Services

Accreditations: International Standard Organization (ISO) 9001:2008

FacilityDetail

Its global I have been sleep for so long I feel incredibly guilty and want to do all I can to fight back to end slavery for good.

 

[Crude Abolitionist]

.

 

[ORDER_66]

I feel conflicted because If I just up and leave without fighting the system it will just follow me wherever I go.

Yall do know GEO GROUP (private prison slavery institution) is in Africa? Africans locking up Africans in Africa for the profits that go back to pro slavery capitalist in Amerikkka. These private prison companies are global now. This is what people need to better understand.

Locations

Kutama Sinthumule Correctional Center (AFRICA)
Sparrow Road, Makhado, Limpopo 0920

Capacity: 3,024

Client: Republic of South Africa Department of Correctional Services

Accreditations: International Standard Organization (ISO) 9001:2008

FacilityDetail

Its global I have been sleep for so long I feel incredibly guilty and want to do all I can to fight back to end slavery for good.

I feel you... I just need a fresh start with some financial freedom in my pocket... it seems the fukking system designed to either put us in the grave or a jail cell at all costs no matter what. We just need to get away.

 

[Majestic]

Sickening. Humans are

 

[SirReginald]

If you ever need me to donate I will. shyt needs to be stopped.

 

[Crude Abolitionist]

I feel you... I just need a fresh start with some financial freedom in my pocket... it seems the fukking system designed to either put us in the grave or a jail cell at all costs no matter what. We just need to get away.

Yeah its alot to deal with man. Sometimes it's just too much. But then I think about Frederick Douglass, Nat Turner, I think about the ones that never gave up and fought till the end. I don't want to let them down.

 

[El Bombi]

Texas. (Austin) to be exact.

I did a whole bunch of googling the other night and found a prison slavery abolitionist group where I live. I just started out typing the state I'm in followed by prison/abolitionist got alot of abortion crap but finally found what I was looking for. I am in a city with people who occasionally give a damn so I lucked out.

I posted what I found in the last thread I made check it out: Prison Food Is Making U.S. Inmates Disproportionately Sick

Texas is ground ZERO for private prisons.

 

[Crude Abolitionist]

Texas is ground ZERO for private prisons.

Yep. Look how many prison plantations Corecivic has in Texas... Facilities

I have nightmares about being wrongfully convicted and my life wasted away in a prison cell.

Its fukked up.