After a short lecture, Treasury Secretary Steven Mnuchin spoke with Marketplace host Kai Ryssdal at the UCLA Burkle Center for International Relations in Los Angeles. (Photo: UCLA)
Trump Treasury Secretary and former Goldman Sachs banker Steve Mnuchin isn’t accustomed to facing direct challenges to his wild economic claims or protests over the GOP tax plan he helped craft, and after experiencing both during an event at UCLA’s Burkle Center on Monday, Mnuchin demanded that video of his appearance be suppressed.
According to the Wall Street Journal, Mnuchin complained to the audience that he usually only talks to “people who wanna listen to me speak” after students and others attending the event yelled out “I think you’re full of shit” and denounced the Republican tax bill as an attack on “people who are in poverty.” Continue reading →
“Not to put too fine a point on it, this is false” writes Jared Bernstein in response to claims by Trump’s Treasury Secretary claims that $2.4 trillion corporate tax cut will magically pay for itself. (Photo: Timothy Krause/cc/flickr)
With reports that President Donald Trump wants to slash the corporate tax rate by 60 percent and Treasury Secretary Steven Mnuchin claiming widespread cuts for the nation’s wealthy and powerful will magically pay for themselves, progressive economists and tax experts are issuing early warnings that this is simply the latest attempt by Republicans to pull the wool over the eyes of average American taxpayers.
With more details expected during an offical White House announcement on Wednesday, numerous outlets have already reported that Trump will tout cutting the corporate tax rate from its current 35 percent down to an even more paltry 15 percent. As is well known and repeatedly documented, even the 35 percent official rate is largely a mythical number that few U.S. corporations actually pay. Continue reading →
In yet another Wall Street giveaway, President Donald Trump on Friday afternoon took executive action to chip away at Dodd-Frank financial regulations and roll back rules aimed at reducing corporate tax avoidance.
Lisa Gilbert, vice president of legislative affairs for watchdog group Public Citizen, described the orders signed Friday at the Treasury Department as “nothing more than special favors for the same Wall Street banks that crashed our economy in 2008 and put millions of Americans out of work.” Continue reading →
Democrats on the Senate Judiciary Committee invoked a procedural move called the two-hour rule—which, according toThe Hill, prevents “holding committee meetings beyond the first two hours of the Senate’s day”—to push the attorney general vote until Wednesday.
The move stalls the controversial confirmation of Sen. Jeff Sessions and came at the same time that Democrats on the Senate Finance Committee boycotted hearings for Treasury Secretary nominee Steven Mnuchin and Rep. Tom Price’s nomination to be secretary of health and human services, forcing Republicans to reschedule both votes. Continue reading →
As the media continues to parrot American intelligence agencies’ as-of-yet unsubstantiated claims that Russia hacked the U.S. election, there is far more evidence to implicate an equally dangerous infiltrator: Goldman Sachs.
The infamous banking company, which was widely implicated in the 2008 economic crash, appears to have come out on top in the most recent U.S. presidential election.
On one hand, Goldman Sachs was hedging its bets on a Hillary Clinton victory. Considering the banking monolith was one of her top donors — and that she received harsh criticism for accepting hundreds of thousands of dollars in speaking fees from the firm — it’s clear the powerful financiers had every intent of influencing the election and politics in general. Continue reading →