Bill Kristol admits GOP ‘making a mistake’ by slashing corporate taxes
During a Fox News panel Sunday, conservative contributor Bill Kristol admitted that “corporations have a ton of cash” and the Republican Party’s desire to slash corporate tax rates was a mistake.
“I think [Republicans] look back on the Bush years and say the problem was we just didn’t do enough,” Center for American Progress CEO John Podesta told Fox News’ Chris Wallace. “And so [they say] let’s cut taxes more for wealthiest Americans. Let’s try to cut Medicare now, cut Medicaid, cut health care that people need. They don’t really have an investment agenda.”
Wall Street Journal columnist Kimberly Strassel quickly disagreed.
“The second highest corporate tax rate in the world was one of the things that got us in this mess,” she said. “Going back to say we need to cut that is not going back to old policies, it’s fixing the problem.”
But Kristol interrupted, finding himself in the odd position of disagreeing with Strassel.
“Republicans are making a mistake if they focus on big businesses and corporate tax rates,” he said. “Corporations have a ton of cash. The corporate tax rate is not killing big business in America.”
Watch this video from Fox’s Fox News Sunday, broadcast June 5, 2011.