Council Director Gary Cohn Discusses the Economy…

There’s a lot of people who don’t have a comprehensive understanding of what it takes to battle the multinationals in economic warfare.  Those same people don’t like Gary Cohn.

CTH recognizes the inherent value in Mr. Cohn as director of President Trump’s national economic council.  The guy knows the economic schemes better than almost all of the globalist adversaries.  Like Wilbur Ross, the former executive of U.S. Steel, Gary Cohn is one of the well dressed “killers”; an apex financial predator who’s eyes will contract while he shakes your hand just before he rips your throat out during negotiations.  Departing he’ll wink at your carcass, and still make your team pay for the clean up.

In this interview segment Director Gary Cohn discusses the Republicans’ tax reform plan, infrastructure initiatives and laughs out loud at President Barack Obama taking credit for the economy.  Director Cohn is a bad, bad man; perhaps the best of the bad men.

 

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This entry was posted in Budget, Donald Trump, Economy, Legislation, President Trump, Taxes, Uncategorized. Bookmark the permalink.

144 Responses to Council Director Gary Cohn Discusses the Economy…

  1. seekingthetruth2 says:

    This cannot be true. I read in the MSM/LSM/FNM that Cohn hates Drumpf and is leaving the Administration an day now…../s

    Liked by 23 people

    • filia.aurea says:

      Cohn is one of the “killers” PDJT told us about during the campaign….wouldn’t want to have dinner with, at least I wouldn’t.

      Liked by 1 person

      • decisiontime16 says:

        Cohn’s grandfather was a Polish immigrant who moved to the US on his own as a 13-year-old with $8 in his pocket. He worked three jobs, was an apprentice electrician, and ended up opening his own business. Cohn would later work there.

        Cohn grew up in Cleveland in the 1960s in a middle-class family. He ‘bounced around from school to school because really no one understood how to deal with a dyslexic kid,’ he told colleague Jake Siewart in a podcast.

        A teacher told Cohn’s parents that ‘if they were really lucky and spent a lot of time’ with Cohn, he might ‘grow up to be a truck driver.’

        He ended up at Gilmour Academy, a Catholic school, where two brothers took an interest in his education. “I think they took an interest because I might have been the hardest-working kid in the class with the least amount of results,” Cohn has said.

        He worked hard to get into college at American University, where he learned about time management. ‘You go to class less than 12 hours a week,’ he said. ‘If you can’t figure out how to manage the rest of your time and get your work done, you should be questioning yourself.’

        On the day he finally did graduate,’ after an enormous amount of effort on writing, reading and rereading, ‘his mother was a fountain of tears.’

        Cohn did not have a job or interviews lined up after graduation. What he did possess was a passion for financial markets.

        Cohn took up a job with a division of United States Steel in Akron, Ohio, selling aluminum siding and window frames to please his father.

        During this time, while in Long Island on a work trip, he got a day off from his manager and went down to Wall Street and convinced a random ‘well-dressed guy’ to share a cab with him.

        Read the rest of the story at…

        http://www.businessinsider.com/gary-cohn-life-story-from-goldman-sachs-to-donald-trump-adviser-2017-1/#cohn-did-not-have-a-job-or-interviews-lined-up-after-graduation-what-he-did-possess-was-a-passion-for-financial-markets-7

        Liked by 13 people

        • MouseChop says:

          Thumbs up to you decisiontime16 !!! And, many thanks for posting the source from your comment above. Now, I have a reference point to begin understanding Sundance’s comments about Gary Cohn and how he’ll wink at your carcass.

          Again, I thank you Father God for the ability to learn how to learn at the CTH. Where Truth in all things is relentlessly pursued. Father God thank you for CTH, Sundance and all your treepers. Continue Father, the pouring of all you are over this ragtag bunch of misfits and surround this Last Refuge with your Warring Angels.

          Liked by 5 people

          • NC Mom says:

            In Jesus name, AMEN and AMEN. Thank you for this prayer of THANKSGIVING Mouse, in which I join you. And thank you Lord for allowing us to have Donald Trump as our President. Please protect and bless him as he guides our battered Country back to your righteousness and health. I pray in Jesus name.

            Liked by 3 people

        • filia.aurea says:

          Very inspiring story. Thanks for the link. My own ancestors escaped the English King, and taught the Colonies how to manage and mine coal. I had no idea Gary Cohn had overcome such enormous challenges, his party alliance is irrelevant, (just as General Flynn’s was) character is what counts.

          Liked by 1 person

    • indiamaria2020 says:

      Heh, heh, heh……

      Liked by 1 person

  2. freq says:

    Cohn will remain a darling – until he isn’t… it’s the nature of the economic cycle for whomever is sitting in the ‘blame’ chair when periodically, the cycle goes south…

    Liked by 2 people

    • MAGADJT says:

      This cycle is poised to last awhile, as long as the MAGA agenda is fostered IMO. There was such a defect in normalized growth over the last 10 years, that there is a lot of room to run. Not only that, but the fact that POTUS is expanding the economic pie, which will continue to support growth. There will be pullbacks along the way, but the overall trend line will be upward. Just wait and see what happens if an infrastructure bill is passed; DJT won’t squander these dollars on payouts to school systems and “Cash for Clunkers” like schemes. He will direct all of the money to hard asset development like roads, electric infrastructure development, and such. Like it was meant to be.

      Liked by 21 people

      • freq says:

        respectfully, the global macro-econometric data hasn’t changed since, or just because of The Presdent’s inauguration… the fundamentals are terribly flawed – I don’t do fantasy regarding economic outlooks… that said, I would rather have PDJT as executive should there be another downward pressure issue…

        Liked by 2 people

        • MAGADJT says:

          What fundamentals are you referencing? Because job growth and unemployment rate (whether U1, U4, or U6; I think law should require using U6 as the reported value) is about as fundamental as it gets. I read somewhere today, but can’t remember where, that U6 was down to 7.7%.

          Liked by 1 person

          • freq says:

            global capitalization starvation primarily… additionally there was the hit to domestic cap capabilities following after the 08 bail out by taxpayers… little stuff like that (sorry for the sarc)… the employment metrics you reference are all downstream of capitalization dependencies…

            Like

            • MAGADJT says:

              There are tons of capital available. For the past several years, capital has been trying to find places that would generate a sufficient return. There wasn’t anything available. There will be going forward, and DJT is attempting to make the US the most attractive home for that capital. Employment metrics may be downstream from capitalization, but capitalization “dependency” is downstream from economic growth. If the return is there, the capital will flow.

              Liked by 3 people

              • freq says:

                “tons of capital available”…… nonsense… if that were the case, why have the feds been buying broad market securities? and executing other misc propping-up contortions (bond returns come to mind immediately)…

                “capitalization “dependency” is downstream from economic growth”… … ummm, sorry man – you have that completely backwards… (not trying to start a fight)…

                Like

                • MAGADJT says:

                  I see capital chasing returns every day, and bidding them down. Like REITS paying up for multi family rental projects, and driving cap rates down to 5% on what would have previously been considered marginal properties. That is just one example. And when returns are bid down, it indicates that there is more capital relative to the availability attractive investment. That’s why I say growth will bring out capital. I know you’re talking Macro, and I’m talking more Micro, but they are symbiotic to one another. I don’t know anything about the Feds buying broad market securities; I assume this is different from QE which was a play to keep interest rates (primarily on government issued debt) low. My ongoing concern is the rate on bonds, which could cause interest payments to take over the federal budget very quickly on 20T in debt.

                  Not trying to engage in a fight either, but we can agree to disagree.

                  Liked by 2 people

                • freq says:

                  respectfully (again) – reits and us infrastructure spending are small (ish) on the scale of an industrialized nation/economy like the u.s….

                  buying broad market securities?… yes VERY different from the quantitative easing (QE) injections… you’ve never heard of the PPT (plunge protection team)?… factual real and common knowledge… additionally the bond market is the big inertial flywheel in our markets – and your concern is warranted – however, from your comment I’m obligated to infer you concern is regarding and may be referring to gov instruments (interest concerns) vs privatized bond markets, which was my reference…

                  perhaps the diff of opinion is due to my assertion that any expansion of u.s. industry that depends upon exports in a world market – is and always has been vulnerable to global downturns and would necessary lead to demand starvation for our exports… is that clearer?…

                  Liked by 1 person

              • webgirlpdx says:

                Excellent points, MAGA.

                Liked by 1 person

              • There may be “plenty of capital around” but it is horribly mis-allocated. How much of the market capitalization is accounted for by Amazon (1.2% operating margins, 0.35% profit margin), Tesla (loses $1m in CASH for every care sold), and Apple (a mature value stock priced with a growth premium)? Then consider the phony “eyeballs” boosting the value of Facebook and opaqueness of Google, is that capital available? There are plenty of value stocks in the market (MLP pipelines who are now facing taxation in the new tax bill e.g.) that can never seem to catch a bid. US energy independence represents the biggest growth opportunity yet the companies standing to benefit the most continue to be priced like they are going out of business.

                I would argue that until the FANGS are forced to disclose their finances in accordance with FASB and GAAP standards like most everyone else or challenged on anti-trust grounds, capital will continue to concentrate on political mandates rather than fundamental value. If there is one thing we have learned since Bush declared that “we will suspend the free markets in order to save them”, it’s that central planning leads to widespread mispricing and grotesque capital mis-allocation.

                Liked by 1 person

              • BeePee says:

                Capitalization is downstream from policy. Growth is downstream from capitalization

                Like

        • jeans2nd says:

          One is tempted to argue, based on the “rosy” projections by the IMF.
          However. The IMF’s continued emphasis on “equality” and “sustainability” (whatever those definitions are) reflect the continuance of the IMF’s SJW economic agenda for the world.

          Therefore, one suspects you are correct, for the world, anyway. The IMF’s SJW programs always spell doom. imo
          https://www.imf.org/en/publications/weo

          Liked by 1 person

        • BeePee says:

          The global macro-econometric data is about to change although admittedly for the worse. But we can more than make up for that with domestic micro-data, especially if something that can go wrong, doesn’t. eg a return to inflation. That’s what putting America first is all about. The rest of the world won’t be feeding off us. We will be forced to rely on domestic markets rather than export. The rest of the world will become even more reliant on exports, right when US imports are being cut back. So making a rebalancing period difficult for the rest of the world but after a rebalancing period, a more prosperous America will be in a position to import more while maintaining trade balance to the benefit of the rest of the world. A broke engine to the world economy is a world problem, not a world answer, and trade deficits are not long term sustainable, because they make the US a broke engine long term. If we don’t rebalance, a world market will force a balance on us.

          Liked by 2 people

          • BeePee says:

            Which is exactly what has been happening for the last 9 years.

            Like

          • freq says:

            ” If we don’t rebalance, a world market will force a balance on us.”

            that’s exactly the issue… I agree with all of your comment with the exception of “make up for that with domestic micro-data”

            Like

            • BeePee says:

              We’ll make up for that with domestic economic policy that will then reflect in the micro-data. ie lower taxes on capital being repatriated back into the United States. Downstream economic growth having dependency on such capitalization. (Among others.) Which of course will aggravate the US export market even more, having sucked capital out of the international markets at least in the short term.

              Liked by 1 person

              • freq says:

                I’m sorry for (seemingly) reiterating the difference between u.s. industrial capacity on the world market vs productivity gains due to changes in u.s. domestic policy… two different sized markets… that said, domestic economic policy is of little moment and has no weight when the u.s. dollar is being replaced as the world reserve currency…

                Like

        • sat0422 says:

          There will be a down turn at some point and it may be mild or severe. The beauty of economics is that it is what I call “an inexact science.”

          If there is no downturn then perhaps our economy has been in the hands of the wrong people since 1864.

          Liked by 1 person

      • filia.aurea says:

        PDJT frets about the $6.5T spent achieving nothing but mayhem in the Middle East. Hopefully the team of 2400 auditors working throughout the DOD can find a way to claw back at least $6.5T of the estimated <$13T unaccounted for!! Way to manage a budget, Pentagon boat anchors.

        Liked by 3 people

      • Frankly Ben says:

        Right you are, MAGADJT!

        Milton Friedman, the quintessential capitalist economist, wrote a very readable, terrific primer on the magical engine of capitalism: “Freedom and Capitalism”.

        It’s a great book to read to see the connection between maximizing personal freedoms and the unparalleled economic growth that goes hand in glove with a free people.

        We ain’t seen nothin’ yet!

        Liked by 1 person

      • JoAnn Leichliter says:

        Ah, yes, “cash for clunkers,” the Detroit bailout that made is almost impossible for lower income people to buy a low-priced used car.

        Liked by 1 person

    • indiamaria2020 says:

      ….and the skies will clear after it rains; and the sun will rise in the East, at some point…..

      Like

    • I’m inclined to agree that the market at present isn’t natural, but that it’s very possibly supernatural, the product of Divine Intervention. Thinking so is incentive for me to keep my focus on ‘things above’ and not take this period of grace for granted.

      Liked by 2 people

  3. seekingthetruth2 says:

    Wasn’t Austin Gooley his predecessor?…. a clown v. a been there done it pro….an academic v. a business person.

    Liked by 7 people

  4. woohoowee says:

    You can’t help but LOL when Cohn is laughing! LOL!

    Liked by 6 people

  5. MAGADJT says:

    Varney was asking about potential remedies to evening out the loss of the SALT deduction for high tax states like CA, MASS, NY, etc. vis a vis lowering the top marginal rate from 39% to 35%. Cohn said POTUS is open to supporting a fix for the “SALT states”. This better not mean lowering the top marginal rate only for high income citizens in those states. This would be a complete giveaway to liberal states, and I would rather the entire bill be flushed than see this happen. If they want to “fix” the issue by lowering the top marginal rate, I’m fine with that, as long as it is for everyone.

    Liked by 3 people

    • joeknuckles says:

      Obviously, the only way to even it out would be for the high tax states to lower their damn taxes. The only way they can afford to do that would be to end sanctuary cities and stop giving handouts to illegals. That, along with lavish public employee pensions and other corruption, is where the excess taxes are going.

      Liked by 11 people

      • MAGADJT says:

        Agree, but Cohn sounded like there may be a “fix” in the works in the conference committee. Lots of blue state congressmen don’t want to have ‘splainin to do to their wealthy donor base.

        Like

        • Craig W. Gordon says:

          No fix please. Let the high tax states fix their own problems and be held accountable to their poor past decisions. Tough love.

          Liked by 4 people

          • stella says:

            If required to get the votes needed to get the tax legislation passed, lowering the top rate as a compromise would probably be the best bet.

            Liked by 1 person

            • NvMtnOldMan says:

              Stella-You are correct. The result will be that the blue states will get to keep the high rates but the end result will be an increase in what is already going on–smart people will leave and the states will have to raise the rate even more-thus the rich elites will pay more-3D chess???

              Liked by 1 person

      • 4harrisonblog says:

        This method of reducing the funds in sanctuary cities is all legal if Congress will pass President Trump’s plan. More ways than one to skin a polecat.

        Liked by 2 people

      • JoAnn Leichliter says:

        Ding, ding, ding!

        Like

      • sat0422 says:

        I agree with joeknuckles. Those states have taken advantage of the middle class for so long and need to reign in their spending.

        Like

    • filia.aurea says:

      High tax states should lower taxes or suffer the consequences. Imposing high taxes in any State is a sign of incompetence in State government.

      Liked by 3 people

  6. POP says:

    A Democrat laughing derisively at Obama’s desperate claims…..
    Cohn’s clearly in transition

    Liked by 2 people

  7. WSB says:

    Cohn was hysterical this morning! It has been a rough roller coaster for Gary and us; however, this morning, he was more relaxed than I have ever seen him, so maybe he is now part of the Trump Administration culture.

    And I do not say that lightly. One of the most difficult things in life is to be a productive associate in one corporate culture and then move to another one…and then learn, understand, meld into that new culture, and then deliver!

    March on, Gary!

    Liked by 14 people

    • MAGADJT says:

      Agree. I was very wary of Cohn. But that interview was the most MAGA I’ve ever seen him be. The endorsement by Sundance has changed my mind as well.

      One other point. Hiring the likes of Cohn proves one thing without question: DJT does not hire “yes men”. I think he goes out of his way to hire folks that he knows will have diverse opinions. It’s probably his method of making the most beneficial decision.

      Liked by 14 people

      • Summer says:

        He does not hire people for the sake of diversity of opinions. He hires the most competent ones. All his “economics/finances/trade” picks are fantastic because this is his field of expertise and he personally knows people in business. On the other hand, he has to rely on other people’s expert opinions when it comes to hiring shysters, and that’s why all “his” picks for, say, DoJ are so underwhelming, to put it mildly.

        Several people got their coveted positions in the administration due to political reasons or as a reward for their support during the campaign. Most of them are gone by now.

        Liked by 4 people

      • WSB says:

        You said it !

        Like

      • filia.aurea says:

        Track record of competence is probably the #1 requirement. I don’t think there’s room in the White House for people who want to go in 10 different directions.

        Liked by 1 person

      • The Boss says:

        Your last paragraph defines what diversity SHOULD BE.
        Time to destroy forever the SJW definition and its associated waste.

        Liked by 1 person

    • NYGuy54 says:

      Sometimes it takes a leader like Pres Trump to allow people to stumble – like Gary Cohn did – before they shine. Gary is flush with some success after the Senate passed the tax cuts and now he is shining. He was always a bright guy. People wondered if he could execute the President’ promises (he’s a democrat!) and he did. Team player. Kudos.

      Liked by 7 people

      • TomF says:

        Maybe a lesson learned here is watch not what he says, but what he does. Mr. Cohn is doing his part in MAGA. He too has had his day in the ‘he’s bad’ barrel.
        BTW, a lesson we learned from Mr. Obama. What he said and did were opposites.

        Liked by 4 people

  8. tdaly14 says:

    Our parents were old fashioned Dems that believed in Capitalism and America First! Voted for Nixon, Reagan and Romney. Passed away before Trump unfortunately. My dad would have loved him the most! ❤️

    Liked by 11 people

  9. He said Cohn was a Democrat. Well, an argument can be made that so is Trump. Fact is, these guys don’t play politics. They don’t care for the swamp. Both parties are now just zombies.

    The majority of the cabinet in the WH today are not partisan hacks. They are just common sense practitioners. One of the great things about Trump is that he has put both the Dems and the Repubs to the sword. Cohn knows it too, which is why he can laugh so much.

    As for Obama taking credit – I bet he is regretting his speech about the magic wand. What a parasite that man was.

    Liked by 16 people

    • MAGADJT says:

      If John F Kennedy ran against Mitt Romney today, we would all be voting for JFK as the most conservative candidate on the ballot. That is how far the political spectrum has shifted.

      Liked by 10 people

      • MAGADJT says:

        About 20 minutes after posting this, I got an email from John Kennedy, current Senator from Louisiana. I’ve never signed up for his emails, nor have I contacted him in any way. I didn’t even know who he was. Very weird in a bad way. Are they pulling our email addresses from CTH somehow?

        Liked by 1 person

        • nimrodman says:

          Unlikely.

          It sounds more like the way facebook and google and probably a bunch of other programs work (twitter?). They place cookies and if you read the fine print, even if you log out of – say, facebook – their cookie continues to record other stuff that goes on in your browser.

          I know this because I get adverts for stuff I keyword-searched or clicked on yesterday, even if I wasn’t shopping yesterday, just browsing around. It happens more when it all takes place in a current browsing session, but I’ve gotten them even the next day, after closing browser, clearing cache, and logging out and back in. I clear most stuff, but I think I leave on “keep xxxx for favorite sites”, whatever it says. IE Explorer 11 on Windows 10 desktop.

          So if these “overwatching” programs pass stuff on to merchants, probably they pass on to political fundraising or social justice orgs if they’ve paid the freight of advertising on the overwatch sites and if the overwatch decides their causes or products fall within your interests.

          Sounds like the overwatch programs sniffed your “Kennedy” and decided you’d like to contribute.

          Who are you to argue?

          They may not have fished your email out of Treehouse or WordPress gearhouses, but your browser likely contains your email from you shopping, filling out forms, etc.

          Most all of this depends on what goes on in your browser, to my understanding.

          All my speculation, actual knowledgable persons are welcome to chime in, of course.

          Liked by 3 people

        • georgiafl says:

          I remove/totally website cookies and files multiple times per day and do not use auto-fill anywhere.

          Only cookies I leave on the laptop are WP, CTH (shows as ‘wp’), YouTube and sometimes Twitter. If I don’t leave at least those, my computer gets clogged with cookies even if I have it turned off! It’s weird.

          Whenever I visit YouTube it keeps track and posts the videos I’ve listened to recently and similar ones. Amazon knows what I’ve ordered, profiled me and my interests.

          Everyone is being tracked for commercial and/or political purposes by these online enterprises.

          Liked by 2 people

    • NYGuy54 says:

      I should have read your comment before I posted mine. We said versions of the same thing. Agree wholeheartedly with you.

      Like

    • pyromancer76 says:

      It is good to be an American Democrat just as it is good to be an American Republican.

      The tragedy is that the party appartatuses (apparati?) were taken over by marxists for the Democrats and globalists for the Republicans. There are different versions of conserving American values, that evolved from before the American Revolution, and it would be great if we could return these to American party structures.

      Thank God President Trump is restoring, reforming, revolutionizing the Republican Party so that it becomes American again.

      All one has to do is follow the money.

      A P.S. — is there any hope for an American Democratic Party? In my opinion, It would take a productive/creative source of home grown prosperity and power that excludes not only foreign funding, but unions and government employees. I’m looking around; not seeing anything. What was Cohn’s idea of a Democrat? Maybe it was anti-Rothschilds and Soroses? Might be interesting.

      I couldn’t register Republican before Donald Trump. I figured the Republicans — with all their globalist funding and ideologies (UN, AGW-Global Warming,e.g.,) were the worst demons — the Bushes in particular. My hatred burns so hot when a bush is around it is difficult to maintain Cold Anger when I see what they did to the Republican Party after the Great RR — who only made a small beginning.

      Like

  10. Searkreb says:

    Don’t take this as negative because I smile every time I think about president Trump, but I met with our accounts today and this is not entirely accurate. This is a well respected decent size firm and we are a small business (about (65 employees). The corporate tax rate will be lowered only for c-Corps and most small businesses are now llc’s. This tax cut will have 0 effect for what is was thinking we’re small businesses. I was pumped but now I’m a little disappointed. I just wish they hadn’t sold this tax cut for small businesses and just said it would help larger corporations.
    On a brighter note I’ll gladly pay our share as it has been worth every penny to have such a highly competent president and staff.
    Just passing along informs I learned today

    Liked by 1 person

    • MAGADJT says:

      Supposedly there is a lower tax rate for pass through income as well, which means S Corporations and LLC’s. I distinctly remember reading that somewhere as the genesis for the “small business” portion of the cuts. If not, many LLC’s and S-Corps will be re-organizing as C-Corps.

      Liked by 2 people

      • Searkreb says:

        Yes it was mentioned that later on we may want to consider changing to a c Corp but there were so many things up in the air there isn’t no need to really consider it right now. Pass throughs we’re also something we talked about. I will continue to update as things progress. These are good guys they just weren’t sold that it was all that great. Said it would be great for single parent making between $15,000-$50,000 who didn’t itemize. They would be able to write off $24,000.

        Liked by 1 person

        • Searkreb says:

          I just heard Maria Bartolommeo say small companies tax cuts. Im just curious as to what isn’t a small company.

          Like

        • MAGADJT says:

          Unfortunately that’s probably true. It’s a “populist” tax plan, which means it’s meant to benefit those in the lower income levels the most, or the most populous group. That is the real problem that most have with the plan, but it is what it is. Our only hope is to get this reform done, and then hope they can do some more substantive reform later on that would benefit everyone equally.

          Liked by 2 people

      • JmkNY says:

        Just words about LLCs you can file a form to to choose how you are taxed I have An LlC that’s taxed as an S corp. in fact if you don’t file a form electing how you’ll be treated tax wise you are treated As a sole proprietorship or a partnership. If you are an S Corp or an LLC that’s taxed as one like my biz then converting to a C. Corp should easy. You just deliberately flunk the Scorp test.

        Like

      • 4harrisonblog says:

        Yep, if the roi is there why not.

        Like

    • The Boss says:

      Get a second opinion. I’ve taken on accountants when I find their answers questionable or unsatisfactory. And guess what? Turns out I’ve been right almost every time.

      Liked by 2 people

  11. joeknuckles says:

    Don’t forget that Obama’s economy was propped up by the stimulus (repeated every year?), QE year after year and interest rates at or near zero. We have none of those things now.
    We are not still spending the trillion dollar stimulus every year, are we?

    Liked by 5 people

    • nimrodman says:

      So far we’re still on prior-year continuing funding, aren’t we?
      No new actual budget has been passed, has it?

      If that’s all true, I’d expect that we’re still floating along on that extra trillion per year.

      Anyone?

      Like

    • JoAnn Leichliter says:

      Actually, yes. Until the continuing resolutions stop, that one-time gigantic stimulus is still with us. Does anyone know where that money goes? I certainly don’t.

      Like

  12. BobBoxBody says:

    This is something people should understand: A lot of these guys did the best that they could for whoever they were representing. I get the impression that the people that Trump has chosen are “consummate professionals in their field”. Which is to say that they’ll strive to do the best job they can for whoever it is they are working for. It’s just now they are working for Trump, who is working for US. These guys understand that they’ll probably go down in the history books, even if indirectly, for helping usher the USA into a new golden age undreamed of. That alone is worth the price of admission into the Trump Administration.

    Just watch.

    Liked by 12 people

  13. ZurichMike says:

    I haven’t watched TV in 10 years. I only see clips online, like this one. Is Varney always so smarmy when he speaks? Not just the accent, but his tone is that of a snippy cad lecturing to the rubes. Or am I missing something?

    Liked by 1 person

    • jeans2nd says:

      No TV either 10+ yrs, but Varney seems less swarmey and lecturing than Cavuto, imo, which is not saying much. Cavuto is the worst, with Swarmey running a close second.

      Lou Dobbs is the only one worth watching, imo. This really great takedown of Swarmey by Cohen is great, no?
      All the President’s Men seem to be silently laughing at the Fake News interviewers lately.

      Liked by 5 people

      • The Boss says:

        You’re right about Cavuto. He’s a whiny Never-Trumper. Problem at FBN is that Cavuto runs things. Varney and Dobbs get their marching orders from him.

        Like

        • wheatietoo says:

          Agree about Cavuto being a whiny Never-Trumper.
          But I think he lost power at FBN when he was off-air for so long due to his heart surgery.

          His ratings have gone down too.
          So I don’t think Cavuto “runs things” any longer.

          Like

      • wheatietoo says:

        Cavuto is unwatchable.
        I used to like the guy…but he has completely lost me in the last two years.

        Varney, on the other hand, is watchable for the most part because he has become a convert and is surprisingly Pro-Trump now.

        Liked by 1 person

        • Orygun says:

          Cavuto is a poster boy for smarta$$. When he brought on the woman from Columbia that was a Trump supporter from one of his campaign rallies and then proceeded to mock her on air that was it. I have just wanted to punch him in the nose ever since.

          Liked by 1 person

    • HolyLoly says:

      Varney is smarmy but in a good way. He is being sarcastic and facetious because he knows the lying left are wrong about every good thing Trump is accomplishing. Varney’s cockiness is meant to demean and mock our enemies who claim Trump is a fraud and will destroy the economy.

      Liked by 2 people

    • wheatietoo says:

      Hi Mike.
      You’d have to watch more than a few clips online to see all the gleeful cheerleading that Varney has been doing for Pres Trump.

      In fact, he has to reign himself in sometimes, to remain objective…or at least, give the appearance of being objective.

      Varney was skeptical of Candidate Trump, even critical at times of Trump’s “brashness” and has been critical of his tweeting.
      But he is a convert now.

      Varney has been an oldschool GOPe type for the most part…but more than that, he is a dyed in the wool capitalist.
      He routinely comments on the perils of Socialism and the merits of Capitalism.
      So I think that this is the basis of his conversion to being Pro-Trump now.

      Varney has seen that our President is restoring the capitalist principles that made this country an economic powerhouse in the past, and that made him emigrate here.
      So this makes Varney very happy with him.

      Liked by 3 people

    • wheatietoo says:

      Here’s a little clip you may not have seen, Mike…and it gives you a little more insight into where Varney is on things in general:

      Liked by 1 person

  14. Although Gary Cohn is a financial and economical bad ass, I bet President Trump would have picked Kevin O’Leary from Shark if he was an American citizen.

    Like

    • “from Shark Tank”

      Like

    • tigsmom says:

      A dear friend, now 84 with Dementia, was an International electronics rep in the 70’s-80’s for Apple, IBM, Intel in South America, Europe. When he came back to Portland,OR, to save his family’s 100 YO company, he commented, “The local bankers had no idea I’ve been swimming with sharks for 15 years”. Mission accomplished.

      Liked by 5 people

  15. n1ghtcr4wler says:

    This was a great interview especially after the Obama question

    Liked by 3 people

  16. indiamaria2020 says:

    Thank you Gary Cohn for your service to our country. You did not have to do this, especially the BS you have had to put up with from the “political geniuses” who forgot to throw away the outdated ideological playbook of traditional politics. MAGA means prosperity for us Little Guys. So nice that a Big Guy like you is actually working to make my life better. The ideology guys, not so much. I plug my ears now when THEY speak.

    Liked by 6 people

  17. dufrst says:

    Hmmm, I don’t know about Cohn. Where’s the ending of the carried interest deduction?

    Like

  18. trapper says:

    Want to drive wage rates up? Want to “make people work who can work”? Want to bring people back into the work force who have dropped out? WELL, have I got an idea for YOU.

    Deport 14 million illegal aliens. No amnesty. No DACA. No Dreamers. Just ship them all back.

    Liked by 5 people

  19. jojo says:

    You have to completely eliminate EVERY CENT spent on Medicaid before touching ONE CENT of Medicare. Medicare is a bill- Medicaid is charity.

    Liked by 1 person

  20. Bo3484 says:

    SALT needs to stay as a deduction for ALL tax paying citizens. I have no clue of the rationale behind eliminating this deduction which affects low and middle income families the most. Further it makes the most sense to deduct SALT from federal taxable income. Since the tax reform bill basically left the monsterous code and structure in place, while dialing back the rates is certainly positive, eliminating the SALT deduction mitigates the promise to help the middle class.

    Like

    • Bo3484 says:

      To add to the narrative rebuttal that I’ve seen, I do not believe for 1 second states and municipalities will be ‘incentivized’ to lower their rates. Think about the nature of the government beast and ask yourself of the likelihood of that happening in the near term or at all.

      Liked by 1 person

      • pyromancer76 says:

        Bo3484, of course no governmental agencies, e.g., states and municipalities, will ever incentivize to lower taxes. Only the voters who send different representatives will perform those acts. And, of course, you show that you know the nature of the government beast. Given your argument, we should keep feeding it! Enough already. (See my argument against all SALT below.)

        Like

    • stella says:

      Why should people who live in low tax states, subsidize taxpayers in high tax states like California?

      Low income taxpayers don’t itemize, and neither do most middle class taxpayers (unless they have high mortgage interest). About a third of taxpayers overall itemize. The rest take the standard deduction.

      Like

      • stella says:

        The standard deduction will be almost doubled under the new tax plan.

        ADD: $12,000 for individuals and $24,000 for married couples.

        Like

        • Bo3484 says:

          People who have small businesses hnreimbursed business file a Schedule C have only itemized deductions and not the standard deduction.

          Not the point anyway. I refer you to my above posts and only summarize by stating my contention is federal taxable income should absolutely exclude the amount you pay in SALT. States and municipalities will not be quick at all to lower taxes in response.

          Like

          • stella says:

            You were talking about low income and middle income taxpayers, most of whom don’t itemize deductions, so won’t benefit by Federal SALT deductions, and since the standard deduction is doubling, even fewer of these people will itemize, probably.

            You’re right – small businesses weren’t the point.

            I disagree that federal taxable income should exclude the amount you pay in SALT.

            Like

            • VegasGuy says:

              “…since the standard deduction is doubling, even fewer of these people will itemize, probably. ..”

              Not completely true. The problem is that the standard deduction, even doubled, is not sufficient for most filers IF the Tax Rate on adjusted gross income is not low enough to actually produce a net reduction in Federal Tax.

              They are relying on the Child Tax credit & the earned income tax credit to drive down the effective tax rate. But that only helps IF the filers have children or are erning at or near the poverty level (very low income filers).

              Under current code, a married couple wit say, 2 children, and do not itemize, have the standard deduction ( $12700)plus individual exemptions (4 @ $4050). That equates to $28900 in exempt income. Additionally. if they are homeowners, they also get to deduct mortgage interest & property tax on top of that (maybe for argument sake..) an additional $5000?
              Without the SALT deduction & the mortgage interest deduction, I don’t see how a $24000 standard seduction benefits them unless the effective tax rate is FAR below what they pay now. Of course, the child tax credit will substantially reduce the final tax by (depending on what the final amount is) by perhaps $3200. That could equate ( assuming a 20% tax bracket) to an additional $16000 in equivalent reduction in taxable income.

              So to really benefit from this tax plan one needs to be in the $60 K to $75 K gross income bracket, married with at least 2 children, a& a homeowner. Those families will see a significant benefit. Most others will not IMHO.

              We need to see the final package to know for sure. Problem I am seeing is that the original plan (Trumps’) called for significant simplification and broad tax reduction across the board BUT Congress got their grimy fingers on it and, as usual, crammed it with special interest loopholes. I understand that the emphasis must be on the Business portion as that will have the major impact on the economy. But. it appears that some in certain income situations (think seniors, fixed income, non-homeowners, homeowners in high tax States with high property tax, families without children, and those who receive SS in addition to either low income or pensions & have to pay tax on that SS because they are right in the “sweet spot” of income that trigger that tax….), will not see the touted benefits, IMO.

              So much for filing your taxes on a post card….LOL Trumps’ heart is in the right place on this issue. He just left it too open to Congress to come up with a fairer plan.

              At the rate they are going, & the infighting that is ensuing, it is entirely possible that this Tax Plan might not get done this year.

              Like

      • trapper says:

        Actually, the “subsidization” argument, that high tax states are being subsidized by the low tax states because of SALT deductions, isn’t true. I am too lazy to google it but if you do you will find that the high tax states, which are also high population states, pay far more in federal taxes than they get back in federal benefits, so the high tax states are actually subsidizing the low tax states, even with the SALT deduction.

        And I still say this entire issue was cooked up by the Uniparty Republicans to divide Trump supporters and pit us against each other over deductions. All they had to do was reduce the tax rates in each bracket to get middle class tax relief. They didn’t, so ask yourself WHY they didn’t.

        Liked by 1 person

        • stella says:

          Standard deductions are almost double. Ditto child tax credits. No matter what they do, somebody will bitch.

          Like

          • trapper says:

            Look closely, Stella. This is being sold as doubling the standard deduction, in effect raising it by $12,000, but they are not telling you that they are also eliminating the personal exemption of $4,050. So they are in effect rolling the personal exemption into the standard deduction, so it isn’t really doubling. So, those who itemize get hit twice.

            And I still say it is NOT a tax cut unless EVERYONE gets it. If everyone doesn’t get a cut then it is just a shell game and we are supposed to do exactly what we are doing, arguing and getting angry with each other.

            Liked by 1 person

            • stella says:

              So, if the tax bill doesn’t meet all of your criteria, we should just stay with what we have now?

              I’m not angry. Just wondering what you are willing to accept. Apparently nothing but everything YOU want.

              Like

              • trapper says:

                What I want is simple: no one in the middle class gets a tax increase. And yes, if they can’t do that, then leave it as it is,. Billing it as a middle class tax cut when some get an increase is a despicable lie.

                Like

                • stella says:

                  What is your definition of “middle class”?

                  Like

                • trapper says:

                  Who is middle class is difficult to generalize geopraphically. A New York garbage truck driver’s income, with overtime, would put him in the biggest house in town in a small city in the Midwest. Maybe individual annual income of $200,00 or less? Maybe 250. I know.

                  Like

    • pyromancer76 says:

      Eliminate the deduction for State And Local Taxes (SALT) — everyone needs to bite the bullet. Voters in high tax states need to clean out the corruption and overgrown government kleptocrats. What an incentive.

      I will be paying more taxes, but sock it to me. Let the feelings toward California and other blueies grow into Hot Anger. They no longer get to suck at the federal teat.

      This also will help create an incentive to keep federal taxes (and therefore government) limited and to limit those at state and local level. No one gets a free ride. As Pres Reagan said taxes should hurt.

      Like

      • trapper says:

        This wasn’t suppose to be about bite-the-bullet austerity, nor was it supposed to be about more welfare for illegal aliens disguised as refundable tax credits. It was supposed to be a middle class tax cut. More money in the hands of the working AMERICAN CITIZENS who earned it.

        Lots of dodgy shit being shoveled. For now I’ll wait and see what comes out of conference.

        Liked by 1 person

        • bandfreak22 says:

          It’s a tax redistribution.

          Like

        • VegasGuy says:

          “Lots of dodgy shit being shoveled. For now I’ll wait and see what comes out of conference.”

          LOL…Can’t argue that point.

          Regarding SALT…I am somewhat mixed regarding whether or not the Fed,Tax is subsidizing those high State Tax locals.

          Looking at it in realistic terms, if you & I earn the same but you live in a low tax State & I live in a high tax State. you actually enjoy a better standard of living than I because I have to surrender a greater portion of my income to the State than do you.

          Granted. at Tax time, I deduct those higher amounts (while you also deduct a lower amount, right?) and if you & I are in the same tax bracket, the amount I receive back as a refund is still far less than what you had available to spend for the prior year, right?

          Did you not enjoy a better quality of life over me with the extra disposable income? Are you still not far ahead of me even with both of us deducting the SALT (although at differing amounts) when all is said & done?

          So it pretty much boils down to the point of view of who is paying what & who is not…I can’t honestly view it as one subsidizing another….JMHO

          BTW…I live in a zero State income State with very low property taxes, so in reality I should be feeling that I might be subsidizing those in high SLAT State…But I actually don’t when I look at it in disposable income at the same earning levels…But that’s just my take on it.

          Like

  21. Sentient says:

    Cohn said the top two agenda items for next year are infrastructure and welfare reform. I hope infrastructure includes Kate’s Wall.

    Liked by 1 person

  22. Kathy says:

    TAX PLAN CALCULATOR: http://taxplancalculator.com/

    Treeper “Howie” posted this link a couple weeks ago (***Thanks, Howie!***). Its creator (Maxim Lott) is tweaking whenever new info becomes known — with the latest update (Dec.8th) factoring in “Pease Limits” that apply to high-income people under current law but are eliminated in the reform plans. More info about the link can be found here: http://taxplancalculator.com/static/about.html

    Like

  23. Wait wait! You forgot one…

    Oh JK FCOL!

    Like

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