Charles Gasparino: The middle class doesn't pay a lot of tax, so we should cut taxes for the rich

Charles Gasparino: The middle class doesn't pay a lot of tax, so we should cut taxes for the rich

Gasparino: "It sounds good to say let's do a middle class tax cut" but "they don't pay a lot of the taxes"

Video ››› ››› MEDIA MATTERS STAFF

From the September 22 edition of Fox News' Your World with Neil Cavuto:

Loading the player reg...

CHARLES GASPARINO: Here's what I would say. What Kevin Brady said there is absolutely right. If you look at any statistical study of who pays the most taxes, even if you take state, local, everything together, probably the top 20 percent of all taxpayers, the richest top 20 percent pays 50 percent of all taxes. As you know the top 10 percent of on income tax pays the vast majority of taxes. So if you really want to stimulate the economy, you gotta give people that make money a tax cut because they spend the most or they save the most meaning they invest the most after you give them that tax cut. Those are the people that do the most stimulative economy activity for the markets. It sounds good to say let's do a middle class tax cut, give people that make 60, 70 grand a year less taxes but the problem is they don't pay a lot of the taxes.

Previously:

Fox Business' Charles Gasparino: "Just because they don't get insurance doesn't mean they don't get health care"

How GOP leaders are using TV to misinform the public about the potential health care repeal

Posted In
Economy, Taxes
Network/Outlet
Fox News Channel
Person
Neil Cavuto, Charles Gasparino
Show/Publication
Your World with Neil Cavuto
Stories/Interests
Economy
We've changed our commenting system to Disqus.
Instructions for signing up and claiming your comment history are located here.
Updated rules for commenting are here.