The TPP and TiPP are Wall Street. Kudlow is Wall Street. They don't see labor, except, as a chronic cost to production, hence, robotics need to rule the day.
First, Mnuchin writes a tax policy to give incredible wealth to Wall Street while raising the income tax every year on the Middle Class. And now Kudlow comes in behind that and puts the Middle Class back in the chronic Working Poor Class. American labor will be at the disposal of Wall Street again, with low wages, no benefits and minimal retirement funding when the accumulation into Social Security amounts to next to nothing.
So, the people that voted for Trump thought they were actually getting something. Not. The new tax law attacks the small business people that are the backbone to the USA economy. The risk to collapse of the USA economy will return as of 2008, but, this time the small businesses that facilitated the recovery will be far weaker and less likely to survive another Great Recession.
Wall Street is a mess. It is losing ground from its hubris run after Trump was elected, Disney is trying to purchase Sky TV, Toys "R" Us is closing it's doors in May, Buffett is holding a shareholder revolt, Bed, Bath and Beyond is going down hill and will hit bottom soon, Volkswagen fired it's CEO, Sears is closing all its stores in Chicago and auctioning the stores online, Sinclair may be facing an investigation from some US Senators and the only thing that isn't in the news is another Norovirus on a Carnival Cruiseliner.
Wall Street fell in love with Trump the day after the election because the Trump Company needs help at least as much as most Wall Street companies.
Wall Street is going to fail. That is a fact. They had free money for far too long and pretended they actually needed it. The incentive to CEOs are all backwards and the methods they use to provide stock dividends are not what a good business model looks like. The companies are losing ground because they are over exposed and still trying to figure out what happened under "W."
When Wall Street fails this time, at least leave the American worker strong enough to restart the economy, rather than as impoverished as Wall Street, because Labor never gets a bailout.
April 12, 2018
By Ana Swanson
Washington — President Trump, (click here) in a sharp reversal, told a gathering of farm state lawmakers and governors on Thursday morning that the United States was looking into rejoining a multicountry trade agreement known as the Trans-Pacific Partnership, a deal he pulled out of days after assuming the presidency.
Mr. Trump’s reconsideration of an agreement he once denounced as a “rape of our country” caught even his closest advisers by surprise and came as his administration faces stiff pushback from Republican lawmakers, farmers and other businesses concerned that the president’s threat of tariffs and other trade barriers will hurt them economically....
I don't think Americans know what has happened to the old stalwarts of the USA economy.
6 March 2015
After first (click here) entering the Dow Jones industrial average in 1916, AT&T exits nearly a century later as Apple, the world's largest and most popular stock, takes its place.
Many will say this change, years in the making by the index committee at Dow Jones, marks a passing of the baton. Old Ma Bell's days are over, with its landline and cellular business quickly becoming a commodity....
So, what is the Dow in the year 2018? What is Trump backing when he builds a tax code for Wall Street? Where does Kudlow see a benefit for the USA consumer and it's economy?
So, Apple replaced ATT. Where is Apple's labor?
2013, Alcoa, Hewlett-Packard and Bank of America left the Dow.
2012, Kraft Foods left the Dow.
2009, Citigroup and General Motors left the Dow. (2008, GM had to jettison it's foreign assets and call itself a company rather than a corporation.)
2008, AIG left the Dow. No surprise there.
So, when the USA gives tax giveaways to Wall Street, where is the money going? Not into the US Treasury. When the new tax code puts increased taxes on the Middle Class, where is it coming from and when wages drop to please Wall Street the national debt and deficit goes up.
Wake up, America.
God bless those that still value landline phones, at least repair workers are still needed.
