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Monday, December 04, 2017

Goldman Sachs Clinton downplays tax cut

When E.F. Hutton talks, people listen.

When Goldman Sachs talks, people hear Clinton.



The crony capitalists at Goldman Sachs put Hillary on the payroll in 2013, giving her $250,000 a speech and donating millions to her Fake Charity.

Last year, the firm forbade employees from donating to Trump's campaign.

The firm engaged in a disinformation campaign, in which it not only said Hillary would win, but that Democrats would take the House and the Senate.

After Trump won, Goldman Sachs said Donald Trump Will Be Terrible for Stocks in 2017.

(Looks at 401k. Up 21% year to date. More terrible, please.)

So now the Democratic Party's favorite firm has made another prediction:
The U.S. Congress will probably pass tax-cut legislation within the next two weeks, ushering in reductions that will boost economic growth by around 0.3 percentage point for next year and 2019, according to estimates by Goldman Sachs Group Inc.
With the Senate passing legislation on Saturday that matched the House of Representatives in including up to $10,000 in state and local property-tax deductions, that eliminated "the most important political difference between the bills before the conference negotiations start," Goldman economists led by Jan Hatzius in New York wrote in a note.
"We expect the final structure of the bill to reflect more of the Senate bill than the House bill, including a 20 percent corporate tax rate effective in 2019," the Goldman analysts wrote. While that’s down from 35 percent today, considering the expected package more broadly, the effective corporate tax rate will come down by "only a couple of percentage points," Goldman said.
Considering Obama averaged only 1.5% growth per annum -- the worst track record since Hoover 80 years ago -- that 0.3% is huge.

By the way, yes, Treasury Secretary Steven Mnuchin worked for Goldman Sachs, but that was 15 years ago. This is not a Goldman Sachs presidency. It is its opposite.

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Please enjoy my two books about the press and how it missed the rise of Donald Trump.

The first was "Trump the Press," which covered his nomination.

The second was "Trump the Establishment," which covered his election.

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As always, Make America Great Again.

7 comments:

  1. Why should I, or anyone, believe what a Hillary supporter says? I rest my case.

    ReplyDelete
  2. Very LOL post. Three current Trump administration officials came straight from Goldman Sachs to Trumpland, including Gary Cohn, who was CEO of Goldman Sachs until departure. Then don't forget former Goldman Sach execs Steven Bannon and Anthony Scaramucci who have come and gone from the White House. Six Goldman Sachs alums have latched on to Trump. Real swamp draining there.

    ReplyDelete
    Replies
    1. Agreed. In order to make any generalization there can be absolutely no exceptions. Ever.

      Making a stupid generalization in order to refute what one considers a stupid generalization is not good logic nor good rhetoric.

      Try to do better

      Delete
    2. Please don't feed the trolls.

      Delete
    3. Roger, Big D. You know your site is getting big when the Soros-funded Hot Pocket Eaters start dogging you. Well done, sir!

      Delete
  3. Not all Muslims....

    ReplyDelete
  4. 0.3 percentage point - sounds like nothing until you consider it's probably a good $200 billion or more injected into the economy. Thats economic activity that employs people. Leave it to 'elitists' to sniff at it.

    ReplyDelete