Slams Democrats for ‘stupid’ comments
By Mariane Angela, Daily Caller News Foundation
Former Reagan economist and co-author of “The Trump Economic Miracle” Art Laffer detailed Wednesday on Fox Business how Americans can benefit from the tax cuts.
House Republicans have advanced a budget resolution to extend Trump-era tax cuts, bolster national security, and support American workers. During an appearance on “The Bottom Line,” Laffer expressed what he said was his satisfaction with the recent developments in the House and criticized the opposition, particularly Democrats, for their negative remarks about the Tax Cuts and Jobs Act.
“It doesn’t matter whether it was by a large margin or a small margin. The bill was passed. Johnson did a great job on that. What shocks me, Brian, is where did you find those Democrats who sell those stupid comments?” Laffer asked. “You know what we know very well is the Tax Cuts and Jobs Act increased tax revenues to the federal government, didn’t lower them. It made the poverty levels for the minorities, the disenfranchised, the less educated, the lowest in U.S. history ever.”
Laffer also pointed out that economic growth in the U.S. surged ahead of the Eurozone following the Act’s implementation.
“U.S. growth relative to the Eurozone, which had been going right together, all of a sudden increased very much in favor of the U.S. All of the things they’ve said there are just counterfactual. I just don’t get where these people get off saying that stuff without having consequences for them,” Laffer said. “It’s just plain wrong. And I’d love to debate any one of them on a show you have on the facts of what happened with the Tax Cuts and Jobs Act, because they are just absolutely wrong on everything they say.”
Laffer addressed the broader economic policies under the Trump administration, praising measures taken to protect American businesses from what he termed “overseas extortion.”