President Trump touted our nation’s economic growth last week at the State of the Union address, dubbing it the “Great American Comeback.” Much of that was due to the President’s leadership in providing real tax relief across the board.
National Economic Council director Larry Kudlow promised FOX Business’ Stuart Varney last month that if Trump is reelected, he intends to target “middle-class tax relief” that will bring about “even faster economic growth.”
According to Kudlow, the White House is working on adjusting the tax brackets yet again. Last November, when CNBC asked him about the possibility of a 15 percent tax rate for the middle class, he replied that it sounded like “a pretty good idea” to him.
Democratic presidential hopeful Michael Bloomberg says cutting middle- class taxes is not an option because of the “need to raise revenue for crumbling U.S. infrastructure, social programs and other items.”
He said, “I don’t think that you can cut middle-class taxes very much. We have an infrastructure need that is enormous in this country, and all of the social programs that every candidate including me wants to enact, somebody’s got to pay for it.”
But Trump disagrees and has taken his stand. Adam Andrzejewski of Forbes writes, “America needs a fiscal superhero. President Trump’s budget sends an important signal he’s gearing up for a fight.”
Watch the video as Monica Crowley discusses Trump’s proposed budget for 2021 with Stuart Varney of Fox Business.
