Daily Clips: May 1, 2017
American Airlines gave its workers a raise. Wall Street freaked out.
Why it’s hard to pay for Trump’s tax cuts:
One crucial question, though, is whether the tax breaks that Trump targets will generate enough savings to cover the cost — estimated at more than $6 trillion over 10 years — of what he wants to do, which is slash rates to 35 percent for top individual earners and 15 percent for corporations and pass-through businesses. If they don’t yield enough savings, his plan will boost budget deficits in a way that economists doubt would be offset by faster growth.
Trump says he’s considering moves to break up Wall Street banks: Top administration officials back return of Glass-Steagall Act.
Trump quote on the civil war:
He was really angry that he saw what was happening with regard to the civil war. He said, ‘There’s no reason for this.’ People don’t realize, you know, the civil war – if you think about it, why? People don’t ask that question, but why was there a civil war? Why could that one not have been worked out?
Trump’s tax cuts may be more damaging than Reagan’s
NYT Editorial Board nails Obama on his paid speech:
He wrote in 2006: “I know that as a consequence of my fund-raising I became more like the wealthy donors I met. I spent more and more of my time above the fray, outside the world of immediate hunger, disappointment, fear, irrationality, and frequent hardship of … the people that I’d entered public life to serve.”
Is it a betrayal of that sentiment for the former president to have accepted a reported $400,000 to speak to a Wall Street firm? Perhaps not, but it is disheartening that a man whose historic candidacy was premised on a moral examination of politics now joins almost every modern president in cashing in. And it shows surprising tone deafness, more likely to be expected from the billionaires the Obamas have vacationed with these past months than from a president keenly attuned to the worries and resentments of the 99 percent.
