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News Today: Robert Reich Runs Circle Arounds Trump's Former Economic Adviser Stephen Moore-News of the United States was founded in 1933 by David Lawrence (1888-1973), which also started the World Report in 1946. The two magazines are covering national and international news separately, but Lawrence combines them into news reports of U.S. in World and 1948 [1] and Later sold the magazine to its employees. Historically, this magazine tends to be a bit more conservative than the two main competitors, Time and Newsweek, and focus more on the story of economic, health, and education. It's also distancing news, entertainment and sports celebrities. [2] an important milestone in the history of the beginning of the magazine is including the introduction of the "Washington Whispers" column in 1934 and the column "News You Can Use" in 1952. [3] [4] in 1958, the circulation of the weekly magazine passed one million and two million in 1973. (wikipedia) News Today: Robert Reich Runs Circle Arounds Trump's Former Economic Adviser Stephen Moore
The former secretary of labor dismantled the myth that tax cuts boost the economy.
A CNN discussion on the Republican plan to descrease taxes on corporations did not go well for conservative contributor and former Trump economic adviser Stephen Moore when former U.S. labor secretary Robert Reich called his bluff.
“We did this in 2004, Steve Moore is acting like we didn’t have an experiment to test this theory. Under the George W. Bush administration, we did have a repatriation, a tax holiday and what did corporations do with all that extra money? Did they invest it? Create more jobs? No!” Reich rapidly explained. “They just brought back their shares of stock, pumped up share prices, provided more executive pay to the top executives — we’ve done it and we’ve seen that there are no results."
Moore was undeterred by the facts and carried on with his dubious economic position.
“Explain to me why it’s good for America that we have a 40 percent tax rate way up here and the rest of the world is at 20 percent down here,” he responded with gesticulation outside the camera frame. "It just doesn't work for America."
Reich shut that argument down.
“Well, it does because the effective tax rate — that is, what corporations are actually paying — is just about the same as other foreign corporations are paying."
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