While the highly anticipated Trump tax plan is now center stage in Washington, it seems that some of the Republicans who will be asked to support the bill aren’t exactly conversant when it comes to the basics of taxes and the economy.
Appearing on MSNBC Tuesday afternoon, Senator John Hoeven (R-SD) was taken to school by host Ali Velshi, who told him that Trump’s claim the average American will benefit to the tune of $4,000 to $9,000 a year if the corporate tax rate is cut, simply isn’t true. As Velshi noted:
“It’s very hard for us to do the math to back that up.”
Rather than respond, Hoeven decided to toss a red herring into the mix, alleging:
“What we’re already seeing with the regulatory relief is the GDP in our country is already up to 3.1 percent.”
Velshi corrected the senator:
“It’s 2.2 percent.”
Trying desperately to stay on topic, Hoeven then said:
“But it’s consistently been coming up. And now when you combine that with tax relief, you’re going to see stronger economic growth.”
Once again, Velshi used some of those things Republicans hate most–facts–to refute Senator Hoeven:
“I just need to correct you there, Senator. The longterm — for 30 years or something — it’s been 2.1 percent or 2.2. That stuff the president says, it’s not true.”
When Hoeven tried to say that the American GDP rose more than 3 percent after World War II, Velshi had to correct him:
“But you understand that during the war and 1970 we were building the U.S. highway system. We were creating all sorts of infrastructure. We build no federal infrastructure now in the United States at all. We were sort of shoring up the rest of the world.”
Hoeven again claimed that tax cuts would be the magic elixir we need to get 3 percent growth or more each year. Velshi was having none of it, declaring:
“What’s the driver? No taxes never drives growth. There’s got to be something that actually drives economic growth.”
The Trump tax plan is designed to do one thing: Give more money to Donald Trump, his family, and his wealthy friends. The rest of us are gonna get stuck with the bar tab.
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