Former President Ronald Reagan’s son Ronald Reagan, Jr. blasted the modern Republican Party and the myth of “trickle down” economics on Saturday in a discussion with MSNBC.
Reagan pointed out that 80 percent of the benefits in the House GOP’s Tax Cuts and Jobs Act go to the wealthiest one percent of Americans. “This is bad policy in that sense and bad politics.”
“This is no way to make tax policy,” he said. “Regular order is not being followed here.”
The bill was hastily written in secret, Reagan said, and it shows that the modern Republican party is “incapable of governing.”
“They’ve had years to come up with a tax plan and it looks like they’ve kind of thrown it together in the back room,” he said. “What’s the matter with these people that they can’t come up with sound policy prescriptions?”
He went on to blast his father’s “trickle down economics” practices as an ineffective and destructive idea.
“We ran this experiment,” he said, pointing to California’s success with raising taxes on the wealthy and Kansas’ failure under Gov. Brownback’s tax-slashing policies.
Watch the video, embedded below: