The “Monopoly” guy is an especially appropriate image, since they’ve long since abandoned the trust-busting that was initiated by Republican Teddy Roosevelt.
“It’s a Ponzi scheme,” a Wall Street executive told me, dismissing the idea that a multi-trillion dollar tax cut for multinational corporations would trickle down throughout the economy and also pay for itself.
It’s a view that’s widely shared among the bankers, hedge-fund managers, traders, and quants whose job it is to determine, with Vulcan accuracy, how the Republican tax bill that passed the House yesterday will actually affect the markets.
It’s also more than a little ironic, given that the plan was spearheaded by two former senior partners of Goldman Sachs turned Trump shills—Gary Cohn and Steve Mnuchin—a pedigree that has done little to reassure Wall Street veterans who worry that the White House may accidentally nuke the economy in the name of “tax reform.”
“Will this be the first tax cut in American history that actually results in a recession?” the executive asked.
According to AZ Senator Jeff Flake, the GOP elephant may be superseded by a piece of toast. And given the particular SHAPE of toast, it would make a fitting mustache for the rabid GOP supporters who defend “walking-crimes-against-humanity” like Roy Moore. Here are Senator Flake and Mesa, AZ Mayor John Giles, and their thoughts about the GOP, Moore, and Trump:
……….During an event for the Wall Street journal’s CEO Council, an editor at the Wall Street Journal asked the room: "if the tax reform bill goes through, do you plan to increase investment-your company’s investment, capital investment? " People were asked to raise their hand. When few hands were raised, Gary Cohn, the White House Economic Council director, asked: “why aren’t the other hands up?” …….
This is from an article I read this morning. It shows the White House really has no concept of what corporations are really going to do with the money that Congress is going to give them. Gary Cohn was truly surprised when he realize they were not going to invest that money in the American Financial future.
How is it that the normal American realizes that giving money to the rich does not mean that the rich are going to do anything to help further the employment situation or GNP in this country? Why is it that anyone of us who has a modicum of intelligence realizes that giving money to the 1% Elite leeches in the top tax brackets only means that the rich are going to stash it in their offshore untaxed bank accounts? Where does it say that the corporations who receive an extra 15% tax break are going to want to help build up the earning power of the middle class and expand the base of a class of voters who might actually develop the voting power to eliminate them? Does the government have a contract with these CEOs and corporations to ensure that they are going to make investments in our country rather than overseas? So why are they going to put a burden on the rest of us in order to be so charitable to the poor miserable 1% Elite leeches in the top tax brackets?
In most of Christendom, the Psalm appointed for today was 127. I whispered to my husband that the Psalmist must have been reading the newspaper, and the man behind us laughed out loud.
4 Have mercy upon us, O Lord, have mercy, *for we have had more than enough of contempt,5 Too much of the scorn of the indolent rich, *and of the derision of the proud.
Seems the American people and Congress have entirely different value systems … guess that’s what happens when an extreme ideology uses all the available political tricks to gain control.
Ontman over 6 years ago
Subtle.
Crabbyrino Premium Member over 6 years ago
Mr. Moneybags is happy.
Odon Premium Member over 6 years ago
Who’da thought that would happen?
gammaguy over 6 years ago
The “Monopoly” guy is an especially appropriate image, since they’ve long since abandoned the trust-busting that was initiated by Republican Teddy Roosevelt.
Masterskrain Premium Member over 6 years ago
The Elephant is in a PERFECT position for Uncle Pennybags to continue to kiss his tush!
Silly Season over 6 years ago
(Repost)
https://www.vanityfair.com/news/2017/11/wall-street-fears-trumps-deranged-tax-plan-could-kick-off-economic-euthanasia
“It’s a Ponzi scheme,” a Wall Street executive told me, dismissing the idea that a multi-trillion dollar tax cut for multinational corporations would trickle down throughout the economy and also pay for itself.
It’s a view that’s widely shared among the bankers, hedge-fund managers, traders, and quants whose job it is to determine, with Vulcan accuracy, how the Republican tax bill that passed the House yesterday will actually affect the markets.
It’s also more than a little ironic, given that the plan was spearheaded by two former senior partners of Goldman Sachs turned Trump shills—Gary Cohn and Steve Mnuchin—a pedigree that has done little to reassure Wall Street veterans who worry that the White House may accidentally nuke the economy in the name of “tax reform.”
“Will this be the first tax cut in American history that actually results in a recession?” the executive asked.
Mr. Blawt over 6 years ago
Finally, something for the big guy.
Strawberry Hellcat: Gair I gall, ffon I’r anghall over 6 years ago
According to AZ Senator Jeff Flake, the GOP elephant may be superseded by a piece of toast. And given the particular SHAPE of toast, it would make a fitting mustache for the rabid GOP supporters who defend “walking-crimes-against-humanity” like Roy Moore. Here are Senator Flake and Mesa, AZ Mayor John Giles, and their thoughts about the GOP, Moore, and Trump:
https://www.youtube.com/watch?v=8RrHogKPBlE
braindead Premium Member over 6 years ago
Where are all the Trump Disciples claiming that this tax cut for the rich is good for everybody?
Sadandconfused9 over 6 years ago
……….During an event for the Wall Street journal’s CEO Council, an editor at the Wall Street Journal asked the room: "if the tax reform bill goes through, do you plan to increase investment-your company’s investment, capital investment? " People were asked to raise their hand. When few hands were raised, Gary Cohn, the White House Economic Council director, asked: “why aren’t the other hands up?” …….
This is from an article I read this morning. It shows the White House really has no concept of what corporations are really going to do with the money that Congress is going to give them. Gary Cohn was truly surprised when he realize they were not going to invest that money in the American Financial future.
How is it that the normal American realizes that giving money to the rich does not mean that the rich are going to do anything to help further the employment situation or GNP in this country? Why is it that anyone of us who has a modicum of intelligence realizes that giving money to the 1% Elite leeches in the top tax brackets only means that the rich are going to stash it in their offshore untaxed bank accounts? Where does it say that the corporations who receive an extra 15% tax break are going to want to help build up the earning power of the middle class and expand the base of a class of voters who might actually develop the voting power to eliminate them? Does the government have a contract with these CEOs and corporations to ensure that they are going to make investments in our country rather than overseas? So why are they going to put a burden on the rest of us in order to be so charitable to the poor miserable 1% Elite leeches in the top tax brackets?
Radish the wordsmith over 6 years ago
The rich get richer and the poor get poorer with help from Republicans.
Dani Rice over 6 years ago
In most of Christendom, the Psalm appointed for today was 127. I whispered to my husband that the Psalmist must have been reading the newspaper, and the man behind us laughed out loud.
4 Have mercy upon us, O Lord, have mercy, *for we have had more than enough of contempt,5 Too much of the scorn of the indolent rich, *and of the derision of the proud.
superposition over 6 years ago
Seems the American people and Congress have entirely different value systems … guess that’s what happens when an extreme ideology uses all the available political tricks to gain control.
https://aboutschwab.com/images/uploads/inline/Charles_Schwab-Modern_Wealth_Index-findings_deck.pdf