Economist Ben Stein went on Trish Regan’s Fox Business show on Thursday to discuss something only the two of them have chirped about on the right since the tax plan was first proposed. They’re two voices trying to break through the cacophony of people on the right saying the tax code is so great.
Here’s the problem. While there are plenty of good things about it as any tax cut is bound to have, the thing Stein and Regan have been attacking is a carried interest loophole that clearly stayed in the bill as a result of lobbyists. There’s no other reason for the President and much of the GOP to ignore it despite claims on the campaign trail that they’d address it. Stein was very blunt in his assessment:
“It’s insane what you can buy in politics in terms of the tax code.”
Fox Business Network’s Trish Regan has been merciless in her criticism of the Republican tax bill — recently signed into law by President Donald Trump. Her position hasn’t gotten much support on the Fox News or Fox Business airwaves. But on Thursday, she found an unlikely ally.
Appearing on The Intelligence Report, conservative economist Ben Stein joined Regan to denounce the new laws. Specifically, the two teed off on carried interest — a loophole in which private equity firms and hedge funds have their profits taxed at approximately half the rate of regular income tax. It’s a provision that Trump repeatedly promised to kill on the campaign trail. Regan blasted the president for breaking his promise.