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GOP strategist flays Republican tax plan: ‘Anyone who thinks this will trickle down has staggering ignorance’

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Republican strategist Steve Schmidt on Thursday blasted his party for pushing a tax plan that he said will do little to help the working class while providing huge cuts for the wealthy and large corporations.

During a discussion about the GOP tax plan on MSNBC, host Stephanie Ruhle noted that the White House had promised for 168 days to give her an interview on tax reform.

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“There are corporations that are almost embarrassed about this, saying, ‘Man, we didn’t ask for a gift this big,'” Ruhle observed.

Schmidt pointed out that the GOP tax plan “has an approval rating in the mid-20s.”

“Generally speaking, when you are heading into an election, the things you pass, you want them to be popular,” he continued. “If you look at the battleground for control of the Congress, there are Republican seats in the state of New York, Republican seats in the state of California. This is going to make it more difficult for Republicans to hold those seats because, in those states, this is a tax increase, not a tax cut.”

Schmidt added: “The fundamental economic problem is a lack of real wage growth for middle-income workers. It’s such a problem that it’s destabilizing our poitics because it’s a problem that’s been building for a generation. This does nothing to deal with that. It doesn’t drive growth for that part of the population.”

“And anybody who thinks that this corporate tax cut is going to trickle down to lift wages has a staggering ignorance of how public companies function,” he concluded.

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Watch the video below from MSNBC.


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2020 Election

Trump’s path to re-election ‘smashed to splinters’ as his only achievement is swallowed up by the pandemic: report

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In a piece for Politico, Ben White writes that Donald Trump was going into November's election with only one achievement under his belt -- a healthy economy -- and now he has nothing left to run if he wants to be re-elected.

With all of the gains made in the stock market long gone due to the coronavirus pandemic and the collapse of oil prices, White claims that the president's campaign strategy lies in tatters.

"The fundamental pillars of Donald Trump’s presidency — a hot economy, strong job growth and a rocking stock market — are all being smashed to splinters by the ravaging coronavirus, which has shuttered much of the nation and now officially ended a streak of 113 months of job gains dating back to the end of the Great Recession a decade ago," he wrote before noting the explosion of unemployment claims -- over ten million so far -- that has the country reeling.

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Top South Dakota Republicans face investigation for appearing to be drunk during crucial coronavirus session

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Lawmakers in South Dakota are investigating whether or not Senate Majority Leader Kris Langer (R) was drunk during a meeting earlier this week -- a meeting that dealt with new legislation regarding the coronavirus outbreak, the Rapid City Journal reports.

Another South Dakota Republican, Brock Greenfield, is also under investigation for his conduct during the meeting.

"Langer and Greenfield oversaw the Senate proceedings from a conference room in the Capitol as lawmakers convened through teleconference to decide on a series of emergency bills for the coronavirus outbreak," the Journal reports. "As the Senate prepared to adjourn Tuesday morning, Sen. Phil Jensen, a Rapid City Republican, said he had heard Langer was intoxicated and had interrupted meetings in the House and Senate. He then attempted to move to create a disciplinary committee."

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‘Modern piracy’: Germany accuses Trump of stealing N95 masks it ordered from factory in China

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The German government is accusing the U.S. government of stealing N95 masks that it had ordered from a factory based in China that's run by American company 3M.

The Guardian reports that the German government claims that "200,000 N95 masks made by the manufacturer 3M were diverted to the U.S. as they were being transferred between planes in Thailand."

Andreas Geisel, the interior minister for Berlin state, said that the American seizure of masks that were set to go to Germany was "an act of modern piracy" and warned that continuing to take such actions could create chaos across the globe.

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