Donald Trump was unlike any politician that America had ever seen. When he took office, though, he made a move that was very traditionally Republican. Trump passed a major tax cut for the wealthy.
Like Ronald Reagan and the Bushes before him, Trump said that the cuts would stimulate the economy and benefit the average American. Time has shown, though, that they don’t.
Joe Biden is trying to stimulate the economy in a different way. The Democrat is giving money directly to people and small businesses. Maria Bartiromo says that won’t work. The Fox host argued that you can only stimulate an economy with tax cuts for the rich.
The Fox host began, “So, every spending spree ends in a bill, whether it’s at the mall, a restaurant, or on Capitol Hill. Eventually, the check comes due. Now, that Joe Biden’s massive $1.9 trillion spending plan, which is being paraded as a COVID relief package is now law, Democrats will begin working on their other passion, raising taxes.”
“It will raise taxes on the wealthiest and the highest earners, but what exactly does wealthy mean to the Democrats? That is being debated right now. It is very possible that U.S. companies and those making $400,000 or more a year will initially foot the bill for this stimulus. And, remember, only 10 percent of the plan is actually COVID-related. But the tax writers may want to remember one basic fact, money is mobile and money will go where it is treated best. We see that over and over again.”