Trump's chief Goldman-Sachs goblin tells America they can buy a new car for $1000


#1

Originally published at: https://boingboing.net/2017/09/29/let-them-eat-cars.html


#2

Christ, what an asshole.


#3


#4

I mean, health insurance only costs, what, $12 a year?


#5

A household income of $100K puts that “typical” family near the top of the fourth quintile.

He is so fucking out of touch :rage:


#6

You can get a new car for about $1000. Of course there is all that pesky monthly payment or better yet lease it and then deduct the expenses from your business. That’s how GS guys do it.


#7

You beat me to it!


#8

hqdefault (4)

Oh wait, he said new. Fuck it.


#9

Median household income is closer to $56,000

http://www.deptofnumbers.com/income/us/


#10


#11

How does anyone know that without seeing his tax returns?


#12

“Middle class miracle”, my ass.


#13

Admittedly “new” can mean a “new to you” used car. But $1k is not a price that is likely to get one an automobile that is a piece of reliable transportation. More likely you’d end up with an unreliable piece of cr@p that will require 1k of repairs within the first year.


#14

“Based on the administration’s assumptions, he said, a typical family that has two children and earns $100,000 per year can expect annual tax savings of approximately $1,000”

Well, you know what they say about assumptions: They make an ass out of you and me.

roomie bought a car for ~$1000 (a 2007 ish Taurus); the car had a cracked block that the seller hid and was barely worth the scrap value.


#15

His message was meant for anyone planning on time traveling to 1945.


#16

Looked at another way:

For that hypothetical family of 4 with a $100K income, that notional $1000 tax savings amounts to about $83 per month.


#17

He meant new to you, of course.

The middle class should live on the cast-offs and leftovers of the rich, and the poor should live on the waste and refuse of the middle class. It’s trickle down, you see. Can’t you feel it all trickling down all over you? That’s prosperity, my friend!

I’m terrible at this. It used to be @Modusoperandi’s job.


#18

Oh, and that mortgage deduction might be taken away so, any car repairs that relied on tax returns will go unfixed.


#19

I assume by $1000 he means that’s your annual payment for a new car.

If you bought a $22k new car (average for compact cars), put $3k down (or trade in value), and got a decent car loan of 5% APR on a 72 month long. You’d need $306/mo ($3672/year), which is more than 3x the quoted $1k.

Good luck finding a better deal on a new car than I just showed. I was playing with some very optimistic numbers. (my first car loan was 18.49% APR)


#20

When I read something like this, I can never quite make up my mind whether they’re just completely out of touch with what constitutes reality for ordinary people, cynically spouting bullshit as a way of expressing their contempt for us, or actively engaging in malicious trolling.

I guess there’s also the “two or more of the above” option.