The Lies of Trumponomics
The Political Scene | The New Yorker
The New Yorker
4.3 • 3.9K Ratings
🗓️ 30 November 2017
⏱️ 19 minutes
🔗️ Recording | iTunes | RSS
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Summary
The Republican tax bill, which relies on big tax cuts for corporations to stimulate economic growth, has much in common with Ronald Reagan’s "trickle-down economics,” but it would be more damaging to the middle class and to the economy. And, unlike Reaganomics, which passed with bipartisan support, Trumponomics cheats just about every voter except the super rich. John Cassidy joins Dorothy Wickenden to discuss how the plan would perpetuate the new Gilded Age and betray the central promises of Trump’s presidential campaign.
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| 0:48.5 | This is the political scene, a weekly conversation with New Yorker writers and editors about politics. |
| 0:54.4 | It's Thursday, November 30th. |
| 0:56.4 | I'm Dorothy Wickenden, executive editor of the New Yorker. |
| 1:00.3 | Yesterday, Senate Republicans voted to bring their tax bill to the floor. |
| 1:04.9 | In August, President Trump cited Ronald Reagan as an inspiration for the plan. |
| 1:09.8 | In an address to the nation in 1985, President Reagan made an inspiration for the plan. In an address to the nation in 1985, |
| 1:12.6 | President Reagan made the case for the second major tax overhaul of his administration. |
| 1:17.6 | Over the course of this century, our tax system has been modified dozens of times and in hundreds of ways. |
| 1:24.6 | Yet most of those changes didn't improve the system. They made it more like |
| 1:28.7 | Washington itself. Complicated, unfair, cluttered with gobbledygook and loopholes designed |
| 1:34.9 | for those with the power and influence to hire high-priced legal and tax advisors. |
| 1:40.6 | He went on to say, |
| 1:42.4 | A great national debate now begins. |
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