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.”*
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Hosts: John Iadarola, Ben Mankiewicz, Michael Shure
Cast: John Iadarola, Ben Mankiewicz, Michael Shure
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)