Gary Cohn is Trump's chief economic advisor. He's a former Goldman-Sachs banker with a net worth of more than $250,000,000. In his latest appearance, the quarter-billionaire explained to the press that Trump's tax-plan (which will transfer billions to the wealthiest 1%, e.g., Gary Cohn) will save two-child families earning $100,000/year about $1,000 and that they can use this money to buy "a new car."
Other things the quarter-billionaire thinks we can do with $1000: renovate our kitchens, take a family vacation, and "increase our lifestyle."
Notably absent: subsidize our kids' education after the schools collapse. Subsidize our parents' eldercare after social services for the elderly collapse. Replace our cars after our roads fall apart. Feed ourselves after our laid-off breadwinners find themselves without any unemployment benefits.
Donald Trump will save $125 million, personally, if these cuts go through.
Hours after falsely claiming that “the wealthy are not getting a tax cut” under Trump’s tax reform plan, Cohn appeared at a White House press briefing and spoke to what middle-class Americans have to look forward to. Based on the administration’s assumptions, he said, a typical family that has two children and earns $100,000 per year can expect annual tax savings of approximately $1,000.
“If we allow a family to keep another thousand dollars of their income, what does that mean?” he asked. “They can renovate their kitchen. They can buy a new car. They can take a family vacation. They can increase their lifestyle.”
Millionaire Trump Adviser Says Americans Can 'Buy A New Car' With $1,000 Tax Cut
[Chris D'Angelo/Huffington Post]
(via Naked Capitalism)
(Image: World Economic Forum, CC-BY)
Anand Giridharadas was a former McKinsey consultant turned "thought leader," invited to the stages of the best "ideas festivals" and to TED (twice), the author of some very good and successful books, and as a kind of capstone to this career, he was named a fellow to the Aspen Institute, an elite corps of entrepreneurs […]
London is the epicentre of the British affordable housing crisis, and while there are over 500 high-rises under construction in the capital, consuming nearly every available lot, virtually every one of these towers is designed to serve the high-end luxury market (despite plummeting prices in this category), whose anonymous offshore buyers often never occupy or […]
Since its publication in August, Anand Giridharadas's Winners Take All: The Elite Charade of Changing the World has been tearing through the world, changing the way we think about inequality, philanthropy and elites; Giridharadas is an Aspen Institute Fellow who's long traveled in elite circles, but who concluded that the philanthropy of the super-rich isn't […]
A picture can be worth a heck of a lot more than just a thousand words. If you’ve squinted for ages trying to get just the right photo, you might have the right passion for a career behind the camera. You might even have the right equipment, but do you have the know-how? The Beginner-To-Expert […]
In case you hadn’t noticed from the sleigh bell-heavy music and the hues on your Starbucks cup, the holiday season hasn’t shown any more patience this year. But that doesn’t need to be a bad thing, especially if you’re hoping to get a jump on your shopping. Retailers aren’t waiting til Black Friday to dish […]
What do you get for the techie who has everything? How about giving them a Raspberry Pi and letting them make pretty much anything. Or better yet, do it for yourself with the Ultimate Raspberry Pi eBook Bundle. This trove of ideas and education unlocks the unlimited potential of this mini-computer, whose affordability and versatility […]