One of the definitions of insanity is trying the same things over and over again and expecting a different result. (Actually, I'd call it "obsession" rather than outright insanity, but hey. . . .). Here's the latest version of "trickle down" economics from Trump's chief economic advisor:
That part is really funny -- like corporations are going to spend "windfalls" on workers. I have to wonder if Cohn is really that disconnected from the realities of employment in America (which would put him in the same category as those cabinet members who have expertise in something, theoretically, just not the areas they're supposed to be managing). My guess is that he's just another flim-flam artist.
And just in case you had any doubts, the tax "reform" plan is slanted very heavily in favor of the idle rich -- you know, trust-fund babies, the ones who inherited their money (like a certain president I could name). Case in point: the estate tax:
Snicker. In case you hadn't noticed, Republicans don't think anything should be a taxable event. At least, not for rich people.
White House economic adviser Gary Cohn defended Republicans’ proposed tax cut legislation on Thursday by explicitly saying that tax cuts for wealthy people will “trickle down” to the rest of the economy. . . .(Emphasis added.)
The best way to really benefit middle-class families, Cohn insisted, was to cut taxes for corporations that would then use that windfall to raise workers’ wages.
“We create wage inflation, which means the workers get paid more; the workers have more disposable income, the workers spend more,” Cohn said. “And we see the whole trickle-down through the economy, and that’s good for the economy.”
That part is really funny -- like corporations are going to spend "windfalls" on workers. I have to wonder if Cohn is really that disconnected from the realities of employment in America (which would put him in the same category as those cabinet members who have expertise in something, theoretically, just not the areas they're supposed to be managing). My guess is that he's just another flim-flam artist.
And just in case you had any doubts, the tax "reform" plan is slanted very heavily in favor of the idle rich -- you know, trust-fund babies, the ones who inherited their money (like a certain president I could name). Case in point: the estate tax:
Cohn also defended the plan’s phase out of the estate tax, which would be a massive boon for President Donald Trump’s own children, as well as the children of other wealthy families.
“Are you seriously saying with a straight face that getting rid of the estate tax is about farmers and not about very wealthy families?” CNBC’s John Harwood asked Cohn.
“What I’m saying is that it benefits farms, it benefits small businesses, it benefits a lot of different people,” Cohn replied.
“Small businesses with more than $11 million estates?” Harwood countered.
“We do not believe that death should be a taxable event,” he said.
Snicker. In case you hadn't noticed, Republicans don't think anything should be a taxable event. At least, not for rich people.
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