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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSteve Forbes pees himself over rumored tax hikes for the rich: "Reagan would have choked"
During a CNBC interview on Monday, Forbes said Steve Bannons reported plan to raise the tax rate for high-income earners to over 40% was antithetical to what former President Ronald Reagan believed in terms of economic policy.
That kind of populism Ronald Reagan would have choked on, Forbes said on the CNBC show Squawk Box. What people want is a vibrant economy. They dont care if Bill Gates gets richer. They want to know: Is my paycheck going up? Are my prospects improving?'
According to recent reports, Bannon wants to raise taxes on high-income earners to help give Trumps upcoming tax plan more populist heft so it isnt just seen as a giveaway to the wealthy. Bannon reportedly wants tax hikes on the wealthy to help pay for tax cuts for businesses and middle-class taxpayers.
During the same interview, Forbes also said the GOP should concentrate simply on cutting taxes rather than enacting a broader overhaul aimed at simplifying the tax code, as the failed effort to repeal Obamacare had left the party too bloodied for another protracted political battle.
http://www.rawstory.com/2017/08/billionaire-freaks-about-rumored-trump-tax-plan-reagan-would-have-choked-on-rate-hikes-on-the-rich/
SharonClark
(10,014 posts)BigmanPigman
(51,651 posts)human greed.
Why would Bannon want to further alienate the GOP in Congress? I don't get it.
rurallib
(62,478 posts)Forbes might also want to look at Kansas as the laboratory for tax cutting. What a fucking mess down there.
ExciteBike66
(2,393 posts)It would have been awesome for our nation if Reagan had, in fact, choked...
hatrack
(59,602 posts)Or else the string sticking out of his back still works for all three phrases he knows/knew.
Not Ruth
(3,613 posts)It is barely a partisan issue, with even Republicans closely split.
"The vast majority of Democrats and most independents say wealth should be more evenly distributed, but Republicans are closely split."
https://www.nytimes.com/interactive/2015/06/03/business/income-inequality-workers-rights-international-trade-poll.html
Freddie
(9,279 posts)Fixed that for him.
OldHippieChick
(2,434 posts)correct on this one issue at this point in time or is it a Lucy moment where he will pull the ball away at the last minute?
flotsam
(3,268 posts)And the country would have been all the better for it.