President Trump's 'Out of Touch' Economic Advisor Mocked for Saying Americans Can Buy a New Car with $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.
Cohn: If we allow a family to keep another $1000 of their income they can renovate their kitchen, buy a new car, etc. pic.twitter.com/dIkAwjxRNB
— Melanie Schmitz (@MelsLien) September 28, 2017
WHAT KIND OF KITCHEN CAN YOU RENOVATE FOR $1,000 DO YOU WATCH HGTV. https://t.co/eIAdTO79An
— Jessica Huseman (@JessicaHuseman) September 28, 2017
I couldn't remodel my bicycle for 1 Grand
— M. Boucher (@ZetaBoucher) September 28, 2017
To Cohn's credit, he'd be right if this were the 1930's.
— Steven Shapiro (@re_sis_tor) September 28, 2017
Uh, Gary Cohn (who is worth several hundred million dollars) thinks it costs $1000 to buy a new car (or renovate your kitchen) pic.twitter.com/6IwRDgGSCN
— Judd Legum (@JuddLegum) September 28, 2017
"If a family gets to keep $1K in taxes, they can buy a new car!" -- Gary Cohn, who apparently last bought a car in 1905.
— ((((Peter Sagal)))) (@petersagal) September 28, 2017
Still laughing that Gary Cohn thinks a typical family makes $100,000 and also that $1,000 can get you a new car or a new kitchen.
— Bryce Covert (@brycecovert) September 29, 2017
Gary Cohn is insulated from reality and out of touch with the real costs Americans face, so naturally-Trump put him in charge of messaging.
— Girls Really Rule. (@girlsreallyrule) September 28, 2017
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.
