Reagan Budget Director Stockman Thrashes GOP Tax Bill as ‘Ideological Imposter’ of ‘81 Bill

RUSH EXCERPT:

CAVUTO: "Thank you very, very much. David Stockman, best-selling author at what he makes of this. Your concern is whether spending on programs or tax cuts, getting deeper in debt appears"
STOCKMAN: "Well, that's true. One point by a trillion bill added they get their target. They're already a 2 trillion by the time the bidding is over, in other words get rid of the loophole closures and member benefits to the middle class, which aren't in the current bill, we will be deep, deep, deep in red. That is not a good thing to do with 20 trillion in public that over the next decade before this. My argument is this is an economic dud, it's a political landmine and it's an ideological impostor parading as a Reaganesque supply-side tax cut when it's nothing like that. It's a wish list of business on Wall Street. By definition at the heart of supply-side is marginal rate cut. This is the top rate stays 39.6. He goes to 46% above the million. Second, no individual cutting here. If you set aside the business, which I have a different critique of, 450 billion over 10 years of individual rate cuts. That is tiny. Individuals will pay 22 trillion over that period. This is to .2%." 
CAVUTO: "You don't think it's enough to move the needle?"
STOCKMAN: "I don't think it will move the needle. This is not a middle-class tax cut either. If you take the middle-class, 55,000 to 95,000, a third of them get a tax increase of 1000 a year. Two thirds get a decrease of a thousand. Trade your averaging over 10 years. That they can make. It's fully effective. If you take the middle-class, their average tax cut is $6 a week, one cappuccino coming to cappuccinos, that's all they're getting. All of this --"