{"id":23686,"date":"2017-04-18T19:46:30","date_gmt":"2017-04-19T00:46:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23686"},"modified":"2017-04-18T19:46:30","modified_gmt":"2017-04-19T00:46:30","slug":"stockman-were-borrowing-our-way-to-economic-disaster","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23686","title":{"rendered":"Stockman: We\u2019re Borrowing Our Way to Economic Disaster"},"content":{"rendered":"
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Stockman: We\u2019re Borrowing Our Way to Economic Disaster<\/a><\/h3>\n
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David Stockman joined the Fox Business and the show Mornings with Maria<\/a> to discuss the tax reform highlights for the current White House and GOP platform and what he views as a real threat of economic disaster in the U.S. During the discussion Stockman highlights what to expect from a border adjustment tax possibility, the creation of jobs and the impact on Wall Street in the age of Donald Trump.<\/p>\n

Stockman takes to point the cause of tax reform in the current White House. He begins the segment noting, \u201cI think the border adjustment tax will come out of the retailers margin \u2013 and it should. We do need revenue. We need to have a consumption tax, or a value added tax or a border adjustment tax \u2013 so that we may reduce taxation on wages and income. We desperately need more jobs in this country. If you keep taxing the payroll at 15.5%, which we\u2019re doing today, you\u2019re not going to encourage the creation of jobs. You\u2019re going to take what jobs there are and impact the take-home pay of those jobs.\u201d<\/p>\n