WATCH: Trump Co-Chair Gets Schooled After Claiming Trickle-Down Economics Works
Joe Borelli Pushes Failed Trickle Down Theory And Is Met With An Appropriate Takedown By Ali Velshi
The co-chair of Donald Trump’s New York campaign, Joe Borelli, appeared on CNN today and began the process of pushing the Republican candidate’s updated economic plan. Borelli was debating economic analyst and CNN alum Ali Velshi when he decided to go back a favorite tried-and-failed talking point of conservatives: trickle down economics works.
Velshi first pointed out the math just doesn’t add up in the Trump economic plan:
The top income tax level in America is 39.6 percent. To allow taxes to go down to a maximum of 25 percent and allow for Donald Trump’s increases is preposterous. If he doesn’t get anything else — he gets his expenditure increases and his tax decreases — we’ll have a budgetary hole of about $9 trillion extra. And Donald Trump says we’ll take care of that with economic growth because people will pay less taxes, they’ll feel great about the economy, companies will employ people. That is classic sort of trickle down economics which actually hasn’t worked over the last 10 or 15 years.
In response to that, Borelli countered with this terrible argument:
And I think trickle down economics has actually worked. We have a vice presidential candidate, Mike Pence, who actually used the lower corporate tax rate, lower income tax rate and saw 150,000 new jobs in Indiana during the time he was governor.
Velshi then noted running a state’s economy versus boosting a large country’s economic growth are vastly different things. A state is competing heavily with its immediate neighbors. Countries are competing with the entire planet. In other words, running the U.S. government is not even remotely the same as running a bunch of businesses into the ground (hint, hint). The argument by Borelli is illustrative of the clear lack of understanding by Donald Trump when it comes to running the country.
It’s a good reason why he gets crushed by Hillary Clinton on the question of who voters see as prepared to be president. In a recent CBS News poll, 57 percent of respondents view Clinton favorably on the “Commander-In-Chief” test. Only 36 percent believe Trump is ready. It’s arguments like “trickle down works” that help drive that already massive gap to wider margins.
Economist and former Secretary of Labor Robert Reich also blasted Trump’s updated economic plan. Reich may have put it best when he stated the new plan walks back slightly from “sheer lunacy” to Republican “garden-variety nonsense”. Reich has blasted similar plans in the past and understands the lack of facts and substance behind trickle down beliefs.
It should also be noted using a state to push trickle down theory is utter stupidity, considering there are other states with horrid outcomes using the same theory. You may notice Borelli points to Indiana because of Pence but wants no part of discussing the dumpster fire disaster known as Sam Brownback’s Kansas. The country watched as Kansas went the path of trickle down economics and essentially became a failed state. Even Republicans in Kansas were so angrily fed up with Brownback’s trickle down path to the bottom state GOP incumbents just got blasted in their own primaries last week.
But don’t expect Borelli or others pushing this ridiculous failed theory to note that. They will continue to sell the same snake oil pushed by Donald Trump and his conservative ilk regardless of the facts. Voters have a clear choice this November and one of those is pushing a widely known failure for our economy. If you want the dumpster fire of Kansas all across America, you know how to vote.
Featured image YouTube screenshot (Fair Use).
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