Trump Economic Adviser Stephen Moore VS. Liberal Economist Paul Krugman – August 7, 2016
I attended a dinner and heard Stephen Moore of the Heritage Foundation speak about Trump and I got a chance to ask a question about Moore’s 2013 article on Milton Friedman’s view on Immigration and you can read that article here at this link.
Stephen Moore, an economist with the Heritage Foundation and a top economic advisor for Donald Trump, said Tuesday that Arkansas should get serious about reducing its income tax.
Moore spoke for about an hour Tuesday night on taxes and Trump at a dinner hosted by the Advance Arkansas Institute.
I keep coming back to this state because there are nine states without an income tax. My mission is to make Arkansas the 10th state without an income tax. By the way those nine states without and income tax, they’re dramatically outgrowing the states with high tax rates.
You aren’t going to get much economic benefit (from cutting the income tax rate on the low-end) it’s better than doing nothing, but you’ve got to bring all of the income tax rates down especially the highest tax rates. Most of the business owners and small business owners pay the individual income tax rate. Why would you want small businesses to pay a 6.9 percent rate? That’s an abomination. Let’s get the highest individual income tax rate lowered and eventually to zero.
Arkansas currently has the highest top individual income tax rate, as compared to its bordering states. Tennessee and Texas have no income tax.
Moore also detailed Republican presidential candidate Donald Trump’s economic agenda. Moore said:
We have an amazing economic program. We put together a great tax plan. It’s a supply-side tax rate reduction plan. It cuts the business tax for all businesses to 15 percent from as high as 40 percent. We think that’s just going to be a magnet for jobs. We are going to have a massive deregulation. I told Trump.. The first thing we’re going to do is put an executive order on your desk that repeals this so-called Clean Power Plan. That’s the bill that would put tens of thousands of coal miners throughout this country out of work.
He’s a businessman and he does know how regulation affects business. Most people in Washington (D.C.) don’t. We’re going to repeal the Clean Power Plan. We’re going to repeal most, if not all, of Obamacare.
Moore, who said Trump wasn’t his first choice to be the Presidential nominee, described Trump as someone who would be a “disruptor” of the status quo in Washington D.C. This is why some in the Republican Party and the conservative movement are still not actively supporting his candidacy, according to Moore. Moore said:
He is going to disrupt Washington D.C. and I believe that’s a very good thing. Some of the political consultants, lobbyists, pollsters and political insiders…they’re terrified of Trump. The reason there is such a ferocious anti-Trump movement inside of the conservative movement is because frankly…they don’t really care about middle class people. They just care about themselves. A lot of these people…they’d do better professionally if Hillary won instead of Trump. So a lot of this is… we don’t just need a shakeup in the Democratic Party. We need one in the Republican Party as well.
Will Trump defeat Hillary Clinton? Will he “disrupt Washington?” Stay tuned.