Live from Milwaukee on Tuesday, Fox Business Network’s “The Bottom Line With Dagen & Duffy” show discussed Donald Trump and JD Vance’s opposition to tax increases, in contrast with high-tax Joe Biden and Kamala Harris.
ATR President Grover Norquist noted that Vance understands working households get stuck paying the burden of the corporate tax in the form of diminished wage growth and higher costs of goods and services. Vance has also signed the Taxpayer Protection Pledge, a written commitment to voters to oppose tax increases.
Sean Duffy, co-host: “A lot of Republicans talk about being opposed to tax increases and want to fight for lower taxes. You feel — a guy who has fought your whole life to lower taxes –you feel really good about JD Vance as the VP pick.”
Grover Norquist: “I do. First of all, he signed the pledge never to raise taxes. He knows what that means, and that’s a very important commitment. He’s supporting President Trump’s tax cuts and making them permanent, and President Trump just today said the 21% corporate rate should go down to 15%, which is what he wanted originally.
One of the things that’s helpful is that JD Vance understands the needs of working families. He knows what the left lies about. And that the left lies and says, “Oh, companies pay taxes”. JD Vance knows that companies don’t pay taxes when you impose the corporate income tax: it is paid by consumers, as he was talking about when he was poor.
Consumers pay the corporate income tax. Workers pay the corporate income tax in lower wages. And if they really damage you, the stock market goes down, and anyone with a retirement, or with a pension pays the corporate income tax. The corporate income tax is a declaration of war on working people, not companies.”
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