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.
"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.
Watch the video below from MSNBC.