president? i believe, and he has said, and the president has said that tariffs were a negotiating tactic, but they are clearly very much more than a negotiating tactic. they are the blunt instrument that the president prefers to use in every scenario, whether it s immigration, whether it s national security, whether it s trade. so he has made it clear he likes it, he gets the results he desires, he believes, and he thinks they re effective. but what s happening today, then, dan? the argument, whether it s bank of america or david solomon, ceo of goldman. he said we could tip into recession if the president stays on this path with trade wars. yesterday he said, okay, guys, i m not saying on the path, i m retreating. yet the market is down now, what, 400? i think you have to go back to july 31st and that s the issue. we re seeing a global deceleration of economic data. we see it in production this week in the u.s. in china manufacturing data is
trump would stand to benefit from his tax plan in three major ways. first, from his new brackets, which are narrowed down to three and give the top bracket a roughly 4.6% tax cut. second, he would save from the elimination of the alternative minimum tax, and, third, by eliminating the estate tax, which mainly benefits the wealthiest, wealthiest and maybe trump wouldn t benefit from that because he d be dead but his children would. all right, we a know gary kone former president of goldman and white house national economic advisers kept this theme this morning on good morning america. take a look. we are really solving for the middle class. everything we have done in this
force one. reince priebus, steve bannon, jared kushner. some of the folks are now back home, including preee inreince jared kushner and ivanka trump. they re dealing with the issues popping up back home. on the international part of the trip, the end of it, it is gary cohn who stepped up. the g7 summit is all about his environment, where he is a key adviser to the president. you re seeing h.r. mcmaster here for the duration. he s been at almost all the meetings the president has had. gary cohn has gone to the g7 meeting for years and years as the president of goldman. when they return, the fact this travel ban issue has come up again, if jeff sessions is going to say, let s bring this thing to the supreme court, is this going to create yet another distraction for the white house that is going to keep them away from getting to the agenda? guys like gary cohn don t want to talk about the travel ban. they want to talk about the agenda. they want tax reform, getting
special prosecutor, mitch mcconnell saying yesterday this is really going to delay, these distractions are going to delay the agenda. that s a problem. think about this. who inside the white house is going to focus on this? president trump was a business guy.icies that are tripping him up, it s business management. the markets have confident in gary, the president of goldman. if he walks out of the building, who is going to focus on this? when a trader doesn t see anymore, or they can get their trade to work, they leave. steve mnuchin, we saw that wacky stuff the economist. the article the president was talking about, the economy. but mnuchin backed him up. exactly. putting more pressure on gary cohen. the president talked a whole lot of nonsense. are the good times over for
well donald trump was delivered a healthy economy from president obama, 4% unemployment is a good number. but today s market, it s really a carryover from the pro-business policies. you know, this tax plan that donald trump had been promising. and this weekend, we heard so much in the news about the noise that in-fighting at the white house, weather it s the bannon camp, national security issues and gary cone. emerge as real influencer in the white house. gary cone is a 25-year alumni of goldman sachs, only a month and a half ago, he was the president of goldman. doesn t just understand markets, he is a member of the international finance community. so the market doesn t have feelings, the market s about probability. and when they can say listen, donald trump is unreasonable, he s unhinged, we don t trust him. they trust an even-hand like gary. steve mnuchin getting confirmed tonight. we re worried about mike flynn and what he said, he s no steven miller on tv yet. you didn t see gen