In response to the release of a new Republican tax proposal, three consecutive segments hosted by MSNBC’s Ali Velshi and Stephanie Ruhle offered a perfect example of how cable news ought to cover President Donald Trump’s tax agenda.
The September 27 edition of MSNBC Live with Velshi and Ruhle opened with the co-hosts breaking down the entire Trump tax cut plan. Velshi argued that proposed income tax changes were “a little smoke and mirrors” and would have no “meaningful effect on prosperity” for most Americans, additionally explaining how Trump’s proposal to eliminate the estate and alternative minimum taxes -- which would result in massive tax giveaways to the Trump family -- “is a boon for the wealthy.”
When Velshi explained Trump’s proposal to cut corporate tax rates, Ruhle interjected that Trump’s own companies (along with “law firms and hedge funds”) would benefit from the changes. Velshi concluded that the plan “overwhelmingly supports those who are higher earners” while Ruhle argued it is simply “disingenuous” to claim the middle class would benefit from Trump’s plan:
The hosts then brought in CNBC correspondent John Harwood to discuss the tax plan, where he, too, stressed that the Trump plan “is simply not a tax proposal that is geared toward the middle class” and reminded viewers that Trump’s strategy resembles the failed tax cuts enacted by President George W. Bush. Obama administration press secretary Josh Earnest joined the conversation, concluding the segment by noting that none of Trump’s rally goers are motivated by reduced taxes for the rich and corporations:
After thoroughly dismantling the Trump administration’s tax agenda, the program turned to conservative policy analyst Michael Strain of the American Enterprise Institute (AEI), who also noted that the plan, as it stands today, would be unlikely to fulfill Trump’s promises of increased economic growth and would end up adding to federal budget deficits. At the end of the segment, Earnest once again noted the “internal inconsistency” at play when Trump, after recently arguing the rich don’t need a tax cut, proposes a plan that gives them one: