Freakonomics Radio 371. A Free-Trade Democrat in the Trump White House
Mar 14, 2019
Gary Cohn, former president of Goldman Sachs and director of the National Economic Council under Trump, shares his tumultuous journey in the White House. He discusses the challenges of implementing tax reform and the chaotic political climate he navigated. Cohn reveals why he still speaks with Trump despite calling him 'a professional liar.' The conversation delves into the clash between globalization and nationalism, the economic implications of immigration, and the contentious debates over trade policies that defined the administration's economic landscape.
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Initial Contact with the Trump Campaign
- Cohn received a call from Jared Kushner to discuss economic policy during the 2016 presidential campaign.
- Cohn's initial response was driven by support for deregulation, lower taxes, and corporate repatriation.
The Nature of the White House
- The White House, regardless of the president, is both an amazing and crazy organization.
- Its unique nature presents both opportunities and challenges for those working within it.
Negotiating the Corporate Tax Rate
- Cohn and Trump aimed for a 15% corporate tax rate, which Cohn deemed unworkable.
- Cohn favored 25%, compromised at 20%, and ultimately landed at 21%.
