From the May 9 edition of CNN’s CNN Newsroom with Carol Costello:
Video file
PAMELA BROWN (HOST): So first off, just looking at those two clips back-to-back, what's your take? Has Trump contradicted himself on raising taxes for the rich or not?
RANA FOROOHAR: Well, he's contradicted himself quite a lot. I mean, one of the famous things that he put forward early in his campaign was getting rid of the carried interest provision, which allows allows hedge funders and people that basically make money from money to pay a much lower tax rate than many of us. That still may be in play. He's actually talked about lowering tax rates on many different groups of Americans, upper class, middle class, working class, and the corporate rate. But the problem is you can't lower taxes without also cutting spending. So both the Tax Foundation and the Tax Policy Center, two big think tanks that study tax policy of all the candidates, have said that under Trump's plan, we would actually lose about $10 billion of -- excuse me, $10 trillion of tax revenue without actually cutting federal spending. So you would end up with a greater deficit than we have now. And that's really the rub here. It's a very Reaganesque plan, where people are talking about lowering taxes but not actually cutting federal spending to go along with it, which leaves you in the same problem that you have now.
