Steve Forbes pees himself over rumored tax hikes for the rich: "Reagan would have choked"

[Miles Archer]

During a CNBC interview on Monday, Forbes said Steve Bannon’s 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 don’t 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 Trump’s upcoming tax plan more populist heft so it isn’t 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]

1. Someone should tell Forbes that Reagan is dead

[BigmanPigman]

4. And that "trickle down economics" never worked and never will as long as there is

human greed.

Why would Bannon want to further alienate the GOP in Congress? I don't get it.

[rurallib]

2. Wasn't Reagan a huge tax raiser after his cut nearly tanked the economy?

https://thinkprogress.org/10-things-conservatives-dont-want-you-to-know-about-ronald-reagan-7a87723a4f68/

Forbes might also want to look at Kansas as the laboratory for tax cutting. What a fucking mess down there.

[ExciteBike66]

3. "Reagan would have choked"

It would have been awesome for our nation if Reagan had, in fact, choked...

[hatrack]

5. Steve Forbes is . . . apparently still alive . . .

Or else the string sticking out of his back still works for all three phrases he knows/knew.

[Not Ruth]

6. People want income equality, so they do care if Bill Gates becomes richer

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]

7. Reagan SHOULD have choked

Fixed that for him.

[OldHippieChick]

8. So is Bannon the broken clock that is

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]

9. That kind of populism Ronald Reagan would have choked on, Forbes said

And the country would have been all the better for it.