Mississippi Governor Tate Reeves suggested that Biden pay for infrastructure by lowering taxes for the rich and corporate.
Mississippi Governor Tate Reeves says infrastructure is “something the federal, state, and local governments should spend more of our resources on, but we don’t have to raise taxes by $ 2 trillion to do it.” “#CNNSOTU https: // t .co / cPul2rjoL1 pic.twitter.com/i1NSryMKrR
– State of the Union (@CNNSotu) April 4, 2021
Regarding the State of the Union on CNN, Governor Reeves said:
Well, I think you pay for it in different ways.
One way to pay for it is to significantly improve economic growth. We have seen policies for business, growth, and revenue improving across the Trump administration.
Unfortunately, in those four years, as in the previous four, they have not received control over spending in Washington. You feel that debt doesn’t matter. You see nearly $ 30 trillion in debt for Americans today.
And what will ultimately happen – and it is already happening – if interest rates go up, the portion of our annual budget that is used for interest expense will go up from a massive 15 to 20 percent of all federal revenue to pay interest expense.
Governor Reeves lied about the reason the national debt skyrocketed under Trump. It wasn’t spending that made the debt grow. It was the tax cuts for the rich and corporate that created a hole in the national debt that will take decades to repair.
Trump’s tax cut alone resulted in a 31% increase in the budget deficit.
The Trump tax cut for the rich has not increased revenue. It has blown a hole in the federal debt that will take generations to resolve. Trump’s tax cut has neither boosted the economy nor raised wages.
Republicans are so indebted to the fallacy that tax cuts generate revenue for the rich that they have mistaken themselves into believing that they can pay for programs by taking revenue from the treasury.
Republicans can no longer just count. Two minuses are not a plus.
The worst thing Joe Biden could do would be to pursue Donald Trump’s economic policies.
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Mr. Easley is the Founder / Senior Editor, White House Press Pool, and a Congressional Correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His thesis focused on public order with a specialization in social reform movements.
Awards and professional memberships
Member of the Society of Professional Journalists and the American Political Science Association