Economist Steve Forbes bashed the Republican tax plan in an interview on Fox Business Friday, while explaining how it was a “betrayal” of President Donald Trump.
What did he say?
Treasury Secretary Steve Mnuchin told Fox Business host Trish Regan that despite differences in tax reform bills in the House and Senate, everyone was “on the same page” and called the differences “minor.” Forbes, however, didn’t buy that, and went on to slam the reform effort.
“You’ve got more complexity now, you’ve got huge differences…it really is a betrayal of President Trump. The Republicans should have had a simple tax cut if you weren’t gonna do a flat tax, instead of getting all of these things, they’ve got everyone upset, so they should go back to basics,” Forbes said.
Forbes went on to offer some advice on how to make a better bill.
“Do the 15 or 20 percent corporate rate, cut rates on the personal side across the board immediately, make it effective immediately,” he suggested.
Forbes, a former presidential candidate, ended by labeling legislators working on the bills “inmates at the asylum” and said that more could have been accomplished if Trump weren’t in Asia on a 12-day trip. In the end, Forbes predicted the bill likely to be agreed upon by both chambers will be “bad — the worst of both sides.”
— FOX Business (@FoxBusiness) November 10, 2017