Jared Bernstein: ‘We’re not talking about tax reform, these are tax cuts’

The Hill's Newsmaker Series: Prospects for Tax Reform Featuring Treasury Secretary Steven Mnuchin

American Enterprise Institute spokesman Michael Strain tangled with Jared Bernstein over the proposed tax cuts, and it did not go well at all for him. In the end, he ended up agreeing with Bernstein and ceding every point, including his claim that cutting corporate taxes would somehow magically create jobs. Ali Velshi led off the round…

4 Responses to Jared Bernstein: ‘We’re not talking about tax reform, these are tax cuts’

  1. Imhotep September 29, 2017 at 11:58 am #

    >Gary Cohn, Trumps chief economic advisor, said yesterday, “the average 4-person American family brings in $100,000 a year.”
    Wrong Gary, the average 4-person family actually brings in $74,000 a year.

    So under the Republican/Trump tax bill the average 4-person family will get a $740 dollar tax cut while Trump will enjoy a $1 billion dollar tax cut. (Because of the corporate pass through tax law.)

    >Republican Paul Ryan told an audience of pipe fitters in Pennsylvania yesterday that by lowering the corporate tax rate from 35% to 20%, US companies will be in a better position to compete with foreign corporations.

    “If they can compete, they get more jobs, they can get more accounts and they can raise wages. Wouldn’t you like to see that happen,” Ryan asked?

    (Hmmmm, where did we heard that before……………during the NAFTA debate?)

    Sure Paul, we’d all like to see wages increase and new jobs being created.

    But, you know damn well that it won’t happen, just like it didn’t happen after NAFTA was passed.

  2. Lless September 29, 2017 at 2:39 pm #

    Good lord IMHO, you never use average household income when measuring wealth in the United States. The outrageous income in the top 1 to 5% totally skews an average. The median household income for 2017 is 59,000.

  3. Imhotep September 29, 2017 at 6:42 pm #

    I wonder why Cohn used that reference point and that number?

    Probably to create another illusion that allows people to think and believe that their neighbors, on average, are making more money then they are.

    Talk about a state run propaganda machine akin to Goebbels and the Nazis

  4. dandy October 2, 2017 at 12:26 am #

    Nothing new here. When talking taxes it’s always the same old “trickle down” bullshit “for average, hard-working families”. Problem is, the greedy, rich bastards who get the breaks never let it “trickle down” to the masses. Saint Ronnie talked the same old shit 30 years ago……………………..

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