September 28, 2017

Gary Cohn did not like being asked questions about how Trump's "Super Duper, Bestest, Most Awesome, Totally For The Middle Class Only" Tax Plan would actually help Trump and his family.

Jackson: You've been asked twice and I'd like you to to get to answer this. This tax plan appears that it will benefit the President and his family. Why not just be candid about that?

Cohn: (annoyed) Look, I told you, it will benefit the middle class. I think that is what American tax -- American taxpayers care about what they take home. They care about what they have to spend. That's what they care about. I care about what I pay in tax. I bet you care about what you pay.

Jackson: He is saying he won't benefit, yet it appears that the way this is put together, he actually will. It gets to the idea of wealthy Americans around this country which people do care about.

Cohn: (super annoyed) So let me take you through the components that you are all obsessed about for a minute and Sarah will yell at me at me because I'm taking too long. You talk about the death tax, the two biggest drivers for repeal of the the death tax are the NFIB and farm bureau. That is small businesses and farms. Those are the two organizations that spend the most time lobbying the real on the death tax has the biggest effect on them, small businesses and farms. Wealthy americans do a lot of estate planning. They can use trusts, all types of things that are legal withins tax code to make sure they don't pay death tax. On the AMT, I'm not going to get into deep, deep, calculations on AMT, but at a broad brush level when you do the AMT, once you get rid of the deductions of state and local taxes, that is the biggest add back in AMT. AMT becomes irrelevant, so all the things you are trying to pulling at, you are not looking at the plan in its entirety.

So yeah, he refused to answer about whether Trump and his family would benefit the most (they would). He also said that a family making $100,000 with 2 kids can expect a reduction of a measly $1,000, which he says can be used to renovate a kitchen or buy a car. Um, did we step back into 1950? You can't even buy a decent refrigerator for $1,000 and this delusional dingbat thinks you can do a whole kitchen? Hello, someone turn on HGTV in his McMansion, stat.

Oh, and just a few hours earlier, Cohn gave a disastrous interview where he also couldn't deny something else -- that MIDDLE CLASS taxes won't go up too.

He couldn't run off the stage fast enough.

Editor's Note: In case you missed it in the video, NFIB is the Koch-funded National Federation of Independent Business, which exists to spread the nasty and false rumor that Koch Industries is a "small business" because it is owned by a Subchapter S (Pass-through) Corporation.

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