Everything is great, right?
There's "no recession in sight," Trump's top economic adviser Larry Kudlow says, and American consumers are "loaded up with money" according to Trump himself.
There's nothing to see here, they say, and yet Politico reports that White House officials -- alongside Ivanka and Jared -- are privately telling Republican donors that the coming recession will be "short."
At a fundraising luncheon this week in Jackson, Wyo., headlined by both Jared Kushner and Ivanka Trump, acting White House chief of staff Mick Mulvaney acknowledged the risks to the GOP elite behind closed doors. If the U.S. were to face a recession, it would be “moderate and short,” Mulvaney told roughly 50 donors, according to an attendee.
White House officials are discussing a broader package of measures than previously disclosed, including a cut of an additional percentage point or two to the corporate tax rate. That’s on top of a potential payroll tax cut, which the Obama administration had used to shore up the economy, and a move to index the capital gains rate to inflation, which potentially could be done through an executive order and has internal support from the National Economic Council, the vice president’s office and Mulvaney. Pegging the capital gains rate to inflation would exempt some gains from taxation.
Don't worry, my dear investors, we're going to cut your taxes again -- twice! -- and fuck everyone else.
You know, we've all wondered how the Trump White House would respond to a legitimate economic crisis, and while we're not quite there yet, I think this gives us a window into how they would handle it.
Their solution will be to exacerbate every policy that led us to this point in history in the first place. Their solution will be to dive deeper into debt by handing more cash to the investor class of America; people who were already the richest people in the fucking world before they received their first tax cut in December of 2017.
And the beauty of this solution is that it won't even help!
The White House can decide that the richest people in the world don't have to pay taxes on capitals gains and it won't make one iota of difference to the greater economy which is driven by average consumers, not the Super Yacht Class.
Now, if the idea is to make it even easier for the richest people in the world to buy what remains when the dust settles like starved vulture capitalists, then I suppose this is a brilliant plan.
Where's my guillotine?