Gary Cohn Really, Really Wants to Cut Corporate Taxes

Gary Cohn is eager to be part of the upcoming tax cut team:

Poor Cohn. He’s getting flak for claiming there’s been no tax cut for 31 years. What he obviously meant to say was that the last big corporate tax reform was 31 years ago, which is true. The problem is that it’s not clear that either Cohn or Congress is really working on a big corporate tax reform right now. As Cohn says, they’re working on a tax cut. The tax reform of 1986 did cut the tax rate, but it also widened the base and was basically revenue-neutral.

So how long has it been since a big corporate tax cut? Pretty much forever. There’s never been one. Various small changes over time, combined with corporations getting more efficient at tax avoidance, have reduced effective tax rates, but that’s it. So Cohn really has a chance to make history. If he oversees a big corporate tax cut that’s not revenue neutral, he’ll be the first person in history to do it. That’s surely something a man can be proud of. After all, lower corporate tax rates are a surefire way to boost economic growth. Right?

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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