Wall Street Wins Again as Trump Picks Bankers, Billionaires
"Steve Mnuchin is a world-class financier, banker and businessman, and has played a key role in developing our plan to build a dynamic, booming economy that will create millions of jobs", Trump said. There, Republicans are likely to hold only 52 seats, leaving the door open for Democrats to obstruct or delay any tax reform and prevent them from reaching the 60 votes needed.
Mnuchin, a 53-year-old former Goldman Sachs Group Inc. partner and movie financier, who says he's known Trump for 15 years, repeated the president-elect's goals to upgrade infrastructure in the USA and said he will consider public-private partnerships, along with other options that he didn't specify. He did not specify what these would be but did say the "absolute level" of upper-class taxes would not go down.
Mnuchin said the changes in the tax codes would be the largest changes since those under President Ronald Reagan in the 1980s.
That's a notable statement, because if Mnuchin is confirmed as Treasury Secretary, the former Goldman Sachs banker will be a top player in shaping tax reform.
Slashing the corporate tax rate and allowing businesses to expense capital investments in the year they're made could make 3% to 4% GDP growth "a reasonable goal", said Robert Goulder, senior tax policy counsel for Tax Analysts, a non-partisan publisher focused on tax policy and administration. Now many people still got foreclosed on, but he did things the way the FDIC wanted. The company had announced earlier in the year that it would lay off 1,400 workers and move some of its production to Mexico.
"This started because Trump called up the CEO of United Technologies and told him it's important to keep jobs in this country", Mnuchin told CNBC.
Trump has vowed to withdraw the Pacific trade deal, an ambitious trade agreement among the US and other 11 countries in Asia Pacific, within his first 100 days in office.
On China, Mnuchin said the administration, when in place, would evaluate any possible trade-enforcement action against the country. He apparently assisted Trump in raising millions of dollars during the election.
"If we determine that we need to label them a currency manipulator, that's something the Treasury would do", Mnuchin said. He also spent 17 years at Goldman Sachs, a firm tied to Democratic nominee Hillary Clinton during the presidential campaign, but has also featured prominently in Trump's transition into the White House.
Many on Wall Street believe that repealing or weakening the Dodd-Frank banking regulations, which were put in place following the crisis, could boost the economy.
Mnuchin praised the deal on Wednesday, telling reporters at Trump Tower that "this president and this vice president-elect are going to have open communications with business leaders".
The Washington Post has a new piece out about the massive wealth of Trump's Cabinet picks so far.
Pep Guardiola insists he will need every player in his squad as he embarks on a busy schedule in the Premier League. The result lifted second-placed City to eight points, four behind leaders Barcelona , who won 2-0 at Celtic.
If this rumor is true, we are looking at the first Windows smartphone capable of running PC-based x86 apps. The Surface Phone could potentially have a stylus pen and a keyboard cover like the Surface Pro tablet.
Nintendo will like share global sales numbers once the European launch of Sun and Moon is in the books, so stay tuned. In comparison Pokemon X and Y reportedly sold 1,866,570 copies in Japan in its first two days on the market.
Spencer made it clear that the pricing will make sure that the product delivers a premium experience to the players. Dubbed the Xbox Scorpio, the console will feature 6 teraflops of GPU, compared to 4.14 flops by the Sony PS4 Pro .
With Modi opting to keep mum on the issue, Trinamool Congress led by Mamata Banerjee has called a Bharat bandh, next Monday. But with many opposition parties joining the bandh call, normal life is expected to be hit.
If there's ever another game that the Crimson Tide hold the ball for 40 minutes or more, it is probably a safe bet they will win. But the Tide defense is more than an adamantine wall for offenses to try and penetrate: It is also a safety net for its offense.
His joy was short-lived though as Djokovic roared through the second set in a mere 22 minutes, with Thiem winning just ten points. After reaching the semi-finals of the Tour Finals for the last three years, Wawrinka would love to go one better this year.
Attempts continue to recover the fourth body, according to the representative of the OIJ investigative agency, Guillermo Fonseca. At about the same time the storm hit, a powerful quake shook Nicaragua and El Salvador, briefly triggering a tsunami alert.
As for Bournemouth , amazingly they look to have built on last season's 16 placed finish, with The Cherries now in 10 position. He'll also be without Lewis Cook as he continues to recover from his long term injury.
Interim boss Richie Barker will remain at the helm for the Memorial Stadium clash with no appointment believed to be close. He left the club after a awful start to the season and the club struggling in 19 position in League 1.
Working with Zemeckis was another dream for the actress. "And I thought, 'This is going to be really great.' I was very excited". He has also seen her shooting a machine gun at people at a party - a party of her supposed friends.
Microsoft is indeed working on Surface phone
Microsoft Surface Pro 4 128 GB, 4 GB RAM, Intel Core i5 - Surface Pro 4 powers all that you want to do but it lets you stay light. He also spoke about the mobile division of the company, and how it plans to move forward with new devices.