President Donald Trump’s chief economic adviser, Gary Cohn, is drawing ridicule after he said Americans can buy a new car or renovate their kitchen with a $1,000 tax cut
President Donald Trump’s chief economic adviser, Gary Cohn, is drawing ridicule after he said Americans can buy a new car with a $1,000 tax cut.
The former Goldman Sachs president — who is worth an estimated $266 million, according to the Huffington Post — made the comment during a White House press briefing on Thursday in which he discussed what Republicans’ proposed tax reform plan would mean for middle-class Americans.
Cohn said that “a typical family earning $100,000 with two children … can expect a tax cut of about $1,000.”
“If we allow a family to keep another thousand dollars of their income, what does that mean?” he asked. “They can renovate their kitchen. They can buy a new car. They can take a family vacation. They can increase their lifestyle.”
It wasn’t long before Cohn’s comments were roasted on Twitter.
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Earlier on Thursday, Cohn claimed that “the wealthy are not getting a tax cut” under Trump’s tax reform plan.
But according to The New York Times and other outlets, Trump’s tax reform plan would most benefit the wealthiest Americans — including the president himself — and have only modest benefits for the middle class.