Hannity pleads for Trump to cut taxes on the rich so they can buy boats and stimulate the economy

Hannity pleads for Trump to cut taxes on the rich so they can buy boats and stimulate the economy

Video ››› ››› MEDIA MATTERS STAFF

From the September 14 edition of Premiere Radio Networks' The Sean Hannity Show:

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SEAN HANNITY (HOST): There are certain promises that presidents make and that politicians make that you just got to keep. And I guess sometimes it gets hard because they push, and they push, and they push, and they push. Democrats are also trying to set a trap on taxes. Now the president said yesterday, "Well, I think the wealthy -- their taxes are going to remain about the same. And if not they may go a little higher." He never said "a little higher" when he was running for office. Here is the problem with that. The president's plan to get the forgotten men and women to work here is basically contingent on a growing, thriving economy.   

[...]

Reagan slashed the top marginal rate in the course of his presidency from 70 to 28 percent. Revenues to the government doubled. Twenty million new jobs were created. And that was after the '82 recession -- I mean, he needed some time to get this thriving. And it worked. It's simple economics. Because those multinationals, those corporations, quote "rich people," what they're going to do is they're going to end up spending money and buying boats and as Geraldo said yesterday he bought a helicopter after the Reagan tax cuts, but that keeps people working. And then they'll build manufacturing centers and factories. And you know the top 1 percent already pay 39.5 percent of the federal income tax. The top 10 percent pays 70.9 percent. The bottom 50 percent pays nothing. And that's it. So the rich, quote, are already paying their fair share. The idea is to get them to spend their money and stimulate the economy and build the factories in Michigan, Wisconsin, Pennsylvania, and Ohio.

Previously:

MSNBC’s Velshi and Ruhle: Neither “legitimate economists” nor “recent history” back up ideas behind Trump’s tax plan

MSNBC hosts school President Trump's economic misinformation

Some journalists can see through Trump's economic ruse. Time for everyone else to catch up.

Posted In
Taxes
Network/Outlet
Premiere Radio Networks
Person
Sean Hannity, Donald Trump
Show/Publication
The Sean Hannity Show
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