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CEO’s Admit They’ll Pocket Their Tax Breaks, Not Hire



Gary Cohn appears to actually believe in trickle-down economics. Reality crashed down hard. John Iadarola, Ben Mankiewicz, and Michael Shure, hosts of The Young Turks, discuss. Tell us what you think in the comment section below. Join TYT:

“A meeting of CEOs might seem to be a friendly gathering place for President Donald Trump’s chief economic adviser Gary Cohn, former president of Goldman Sachs.
But at a gathering of chief executives hosted yesterday by the Wall Street Journal, business leaders called into question one of Cohn’s top arguments for slashing the corporate tax rate to 20 percent.
When one of the Journal’s editors asked the crowd if they planned to up their capital expenditure if the GOP’s tax plan went through, only a smattering raised their hands.
“Why aren’t the other hands up?” Cohn asked.
Cohn has said the tax cuts Republicans have proposed will be paid for entirely through economic growth. The cuts are projected to cost at least $1.5 trillion.
“We think we can drive a lot of business back to America, we can drive jobs back to America, we can make ourselves very competitive,” he said on CNBC in September.”*

Read more here:

Hosts: John Iadarola, Ben Mankiewicz, Michael Shure

Cast: John Iadarola, Ben Mankiewicz, Michael Shure

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Written by lena

Foodie, Performer, Water Protector, Avid Baker, Syndicate Aggregator. I probably still live in my mom's basement.

27 Comments

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  1. If this just was about trickle-down economics the GOP wouldn't have written it to crush everyone under the 80%. Take away our itemizations, make it harder to go to college, and cut healthcare, SSI, Medicare, Medicaid and safety nets. Tip of the iceberg. Just adding China is moving into the future using our loan payments and interest while we go backward with coal and oil. So when the GOP has put up into a recession and we have cut everything Seems like the Republican 1% will be astronomically wealthy and be able to buy our debt 1000 times over. Then what? We are owned by corporations, the Koch brothers or who knows all because we have our heads up our bum arguing with Trolls watching reality TV while the 1% is 100 steps ahead of us.

  2. Economies thrive when the people have basic securities and money to spent as consumers and invest in aspirations

  3. Its control people. Rich people like to be in control. Have you not see Trump, he loves attention and power. He throws a tantrum without it.

  4. Lol no shit. If they want to help they should cut small business tax, multi billion dollar corporations don't need any help.

  5. Trickle down economics is really paying dividends out to shareholders. Because many Americans are so emotional wrapped up in politics, they now applaud the very thing they voted against when electing Trump. From hope and change to now it’s just hope from the Right.

  6. Even David Stockman, director of Reagan's Office of Management and Budget, credited "the father of Reagonomics", bashes severely Trump's tax cuts. He mentions that if any tax cut were to have an effect on employment, stimulating the economy, it would be on payroll taxes, which Trump leaves untouched.

  7. Lets see them try to take it to their graves. That Lockjaw asshole Manution, will grin out of the other side of his lying face after Trump goes to Prison.

  8. Steve Manuchin is on his 3rd marriage to a 25 year old blonde bimbo. I can see that she was overwhelmed by the billionaire's magnetic personality.

  9. This bill a disaster of EPIC PROPORTIONS! The wealthy are now going to get to keep 63% of what they earn instead of 61.5%!!!! Millions of people are going to die!

  10. Lmao 😂 trump supporters deserve all the wrong that comes down first. Your kids should go to war first you should lose your home and healthcare first

  11. I LOVE what the comedian Lewis Black says about trickle down economics. He says and I quote " I'm going to pee my pants, and then place a cup under my pant leg, and see just how long it takes to fill the cup"…….. just about sums it up! The same thing is going to happen that happened under Bush 2, A GIANT PROFIT TAKING …..that will destroy our economy!!!, and then the GOP will panic, and do away with Social Security, Medicare, Medicaid, Welfare and Unemployment benefits. All to drive down wages, and create a feudal society ………Kings, Lords and peasants………..

  12. "In one small Pennsylvania town we stopped for gas, and while Cenk filled up I went to talk to these three girls who were walking down the road nearby. Turns out they were three teenage girls, whores in training, literally looking for boys to pick them up. Cenk soon joined me and we discovered these three little spoiled brat bitch young American girls on their way to becoming abused porn actresses or dispensable property in a New York City prostitution ring."

  13. Trickle this!!! After 8 PATHETIC years of your libturd economics….STFU.
    You MORONS obviously don`t understand what a vibrant economy and job market does. If you work for a company that is NOT doing what the other companies are doing…YOU LEAVE that company….and when the consumers find out the company isn`t participating you don`t patronize that company. Not to mention their name will be on EVERY news media getting bashed.

  14. So the fake news knows what every corporation is going to do. Do you see people how stupid you are to believe shit like this.. fake news is assuming too much again.. but it only makes asses out of you who believe it

  15. Wages are going up. I understand this video is from a month ago.. just proves that these idiots don't know what they're talking about. But I guess it gives you gullible's something to hold onto. Whatever Gets You Through the day

  16. Steve is an idiot…of course hundreds of CEO all say we love your tax plan since it is huge gift. But that wasn't the supposed purpose at least that's how the Republicans try to sell it. It was supposed to kick off investment in jobs but when CEOs are asked directly what they will do with the windfall, they tell the truth… nothing. Which is all that the Republican donors wanted in the first pace, more money in their pockets and no strings attached to the gift. Maybe Steve isn't an idiot, he knew all along it was a gift and the rest of the Minions will pay for it in the long run when they start slashing pensions, grants, funding for Medicare, funding for injured veterans, funding for schools. The rich know that America is not going to be great again, so they're going to grab as much as they can before fleeing the country.

  17. The GOP is a dead Party walking. From their legislation for tax evasion to flirting with nuclear war over the search for new markets for US war industry's to attacks against American values and institutions funded by the tax base. This Administration is fascist and it moves forward the fascism of the last 16 years. Death to fascism and to those who salute it

  18. they always do. i know it sounds wrong but high taxes is what makes companies hire, raise wages and invest into their companies, so they make up the loses from higher taxes. cutting taxes does the opposite, they see the extra money and they pocket it. the reason is since they are making more money they don't have a reason to hire more or increase wages, why would they??

  19. Wal-Mart claimed it was raiding pay and giving bonuses because of tax reform. Then a few hours later it was announced 64 stores and Cotscos are closing. Some will be transformed to a center and a few can get jobs there…so it begins.

  20. You Young Turks are so idiotic. Who cares what people do with their tax breaks, either way it doesn’t go to th3 government!

  21. Came back just to look and it turns out everything that trump thought would happen has happened. Businesses are coming back to the us and creating more jobs. And they are investing into the US economy.

  22. By CEOs I think you meant like one or two. In reality, responsible business owners will expand thier businesses, and over time, the growth in the economy will mean that these tax breaks actually help us get rid of the national debt. You liberals like to think that everyone thinks the same way, and your right, if you live in a cartoon. Why not increase your market share by spending money, and in order to do so, you need to hire, promote, and train employees. Go back to highschool and learn economics.

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