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to streamline it, gain efficiencies not just lower the tax rate. not just get a sugar high off lower tax cuts. what i was saying, statutory rate of 30%, companies play 18 points. nobody disputes this, some do. kevin hassett, art lapper, same thing. if we don t fix this, the point, low are the rate and broaden the base, as people like to say. have more people paying a more consistent rate. right. i guess the question is this the white house came out and said between 4,000 and 9,000 dollars a year in gains to households, went back and forth a while. i want to put up a chart in the united states kingdom. more recent than our similar u.s. xavexample shows after corporate tax cuts in the, in 2006, wages actually went down. diane, just ask you to hang on a second. the president is just walking up to the podium in the rose garden. let s listen in to what he has
final plan will hinge on major tax cuts for businesses and wealthy americans, ostensibly with the goal of stimulating economic growth. i happen to be a little skeptical of that outcome, but to balance things out i m joined by somebody who s not. art lapper, chairman of lapper associates, former economic adviser to pret reagan. when talked to kevin hassett of the council of economic advisers i said i have you coming up. good to see you. oh, my goodness nessgoodnes. good to so you, ali. the administration is using the argument, the cut to taxes, particularly corporate taxes, will result in an increasing household income of between $4,000 and $9 thoushg,000 per h. the study was put out there and we re having trouble understanding what the connection is. how it is reducing those business taxes does increase incomes for average americans. talk to me about this. sure. what they suggest in the study by kevin hassett is that if you
this job done, and i don t want to be disappointed by congress. this week, donald trump kicked off his push for tax reform in springfield, missouri, birthplace of route 66, commonly referred to as main street of america. offering a populous pitch he says will slash the tax rate for companies and be a boom for lower and middle class americans. we haven t seen specifics of who would get those besides the very rich, how much they would be, and how to pay for it all. instead, all we have seen on trump s plan is a bare bones, one page outline that leaves it to lawmakers to fill in the blanks. back with me, ali velshi, and arthur lapper, former economic adviser to president ronald reagan. thank you for being here. looking forward to this debate all morning. that i think, joy. art lapper, i am going to you first on the plan. here it is, you probably can t see it in the monitor, but it is a one page plan. its goals are grow the economy, simplify the tax code, provide
neil: all right so to hear steve mnuchin put it, look forward to something big. that s what the administration will lay out as a comprehensive tax reform. bigger, the president said, than anything we ve seen prior, even bigger than ronald reagan. former reagan economic adviser, art lapper on that. i did catch what he mentioned about the mix class tax cut. not so much that this would be across the board. i can glean way too much. what if it is not across the board? big for the middle class, big for others. the corporate part is real and big. but not quite like ronald reagan in the respect that everyone saw substantial cuts. what you have to remember in the first tax cut in 1981, neil, while the unearned income tax rate was 70% to 50%, ronald reagan did not cut the marginal