VIDEO: Trump's Goldman Sachs Guy Suddenly Realizes Corporate Tax Cuts Are Really Stupid
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In this Majority Report clip, we watch top economic adviser Gary Cohn suddenly realize that the corporate tax cuts he's pushing aren't going to work like he expects them to.
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---President Trump's top economic adviser, Gary Cohn, looked out from the stage at a sea of CEOs and top executives in the audience Tuesday for the Wall Street Journal's CEO Council meeting. As Cohn sat comfortably onstage, a Journal editor asked the crowd to raise their hands if their company plans to invest more if the tax reform bill passes.
Very few hands went up.
Cohn looked surprised. “Why aren't the other hands up?” he said.
He laughed a little to lighten the mood, but it didn't cause many more hands to rise. Maybe the CEOs were tired. Maybe they didn't hear the question. It was a casual poll, but the lukewarm response seemed in tension with much of the public enthusiasm among corporations for a tax overhaul.
The president and his senior team have kept saying that the tax plan would unleash business investment in the United States — new factories, more equipment and more jobs. But, perhaps as the informal poll suggested, there are reasons to be doubtful that a great business investment boom would materialize.---
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