Hannity Pleads for Trump to Cut Taxes on the Rich So They Can Buy Boats and Stimulate the Economy

Hannity Pleads for Trump to Cut Taxes on the Rich So They Can Buy Boats and Stimulate the Economy (Media Matters)

SEAN HANNITY (HOST): There are certain promises that president's make and that politicians make, that you just got to keep. And I guess sometimes it gets hard because they push, and they push, and they push, and they push. Democrats are also trying to set a trap on taxes. Now the president said yesterday "Well I think the wealthy -- their taxes are going to remain about the same. And if not they may go a little higher." He never said "a little higher" when he was running for office. Here is the problem with that. The president's plan to get the forgotten men and women to work here is basically contingent on a growing, thriving economy.   

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Reagan slashed the top marginal rate in the course of his presidency from 70 to 28 percent. Revenues to the government doubled. 20 million new jobs were created and that was after the '82 recession, he needed some time to get this thriving and it worked. It's simple economics, because those multinationals, those corporations, quote "rich people" what they're going to do is they're going to end up spending money and buying boats, as Geraldo said yesterday he bought a helicopter after the Reagan tax cuts but that keeps people working. And then build manufacturing centers and factories. And you know the top one percent already pay 39.5 percent of the federal income tax. The top ten percent pays 70.9 percent. The bottom 50 percent pays nothing. And that's it so. the rich are already paying their fair share. The idea is to get them to spend their money and stimulate the economy and build the factories in Michigan, Wisconsin, Pennsylvania, and Ohio.