CNBC Editor: Slams tax cut scam, points out Deficits fall & wages rise under Dems (VIDEO)

John Harwood, a far cry from a Liberal or Progressive reporter appeared on MSNBC with Ali Velshi and slammed the Republican Tax Cut Scam in the journalistic kind of way that was very evident. He also pointed out an unfortunate truth you must point out to every Republican & Trump supporter.

Republican tax cut scam debunked

“Well, I see a big problem for the sponsors of the bill in trying to move public opinion.,” CNBC Editor-at-Large John Harwood. Right now it’s weak. Our NBC Wall Street Journal poll showed only 25% of Americans begin the debate believing this is a good idea. And when you look at the numbers you see much bigger benefits to businesses and wealthy individuals, than you do to average middle-class people. And as you noted at the top of the show, a significant chunk of people are going to get a tax increase. And that’s a very hard hurdle to get over. Republicans are trying to say that cutting corporate taxes a ton is going to benefit workers.”

“Historically whether it’s in America with tax cuts or in a more recent example in the United Kingdom, tax cuts are beneficial to lots of people. They don’t tend to benefit wages.”

“Well and that’s again a claim that is highly disputed that the administration is pushing and that Gary Cohn pushed. In fact, Ali, he said that even if businesses bring back money overseas through their repatriation plan, even if they simply give it to shareholders in dividends or in stock buybacks, he says that’s still going to benefit workers because they’re going to invest. That is a highly debatable proposition.”

“That feels like trickle-down economics to me,” Velshi interjected.

“That is exactly what he’s arguing,” Harwood replied. “And he says it works. And the question is when you look back over the record of what’s happened since the 1980s through both the Reagan, Bush, Clinton, and Obama administrations when you look at those — has wealth become more spread evenly through this society or not? — Actually, we’ve seen that under the Democratic presidents’ deficits have declined more and incomes have done better under. All the while, however, inequality continues to rise. And the analyses we’ve seen so far suggest that this may make it worse.”