The New Yorker’s David Brooks and John Heilesmann on Wednesday weighed in on Donald Trump’s new economic plan.
Here are some highlights: Brooks, who served as a deputy White House economic adviser, said Trump’s proposal is “basically a rebranding of the old Reagan plan.”
Brooks said that Trump’s plan will “reduce taxes for the middle class and corporations” but that Trump would make the top tax rate “less than the top rate in Britain, Canada, Australia and New Zealand.”
Brooks argued that Trump is “the greatest tax cutter in the history of our country.”
Brooks also called Trump’s tax plan “a terrible plan.”
Heileman, the former chief White House economist, argued that the Trump plan will increase inequality.
Heilemans analysis of Trump’s economic plan, which he called “the most important economic document since the Great Depression,” concluded that it will increase the income of the wealthiest Americans.
Heilesmann noted that Trump has not been a Republican and said that “he’s a Democrat.”
He told Trump to “go back to where he came from” and to “make America great again.”
He said that the Republican party “has become a party of the rich.”
He added that Trump “has no interest in helping the poor.”
He said Trump will “lose the election if he’s elected.”
He also said that there is “a growing sense of dissatisfaction with the Republican Party.”
Broken down: Trump’s plan would “reducing taxes for middle class, corporations, and wealthy individuals,” and “redirecting trillions of dollars of federal spending to the states, cities, and businesses.”
Trump’s call for a 15% top tax bracket is “not only wildly unrealistic, it is also an insult to millions of working people.”
The plan would also “increase the income and wealth of the top 1% by $2 trillion,” according to Heilesman.
Trump would also cut taxes on corporations and wealthy people, Heilemen said, and would “cut the estate tax by $50 billion.”
Trump would also raise taxes on “the rich” and “large corporations,” Heilesmans analysis said, “with the result that they will have to pay more in taxes.”
In addition to proposing cuts to taxes for corporations, wealthy individuals, and the top earners, Trump’s proposed tax cuts would also have a major impact on middle-class families.
The plan would raise taxes by more than $200 billion, Heilesom said.
The proposal “would raise taxes for almost all Americans and reduce the revenue available to the government,” Heilems analysis said.
“The tax cuts will not just benefit the wealthy.
They will benefit everyone.”
“This plan is an enormous tax cut for the wealthy and corporations, but it is a huge tax cut to the middle and working classes,” Heilies report said.
Brook, who previously served as chief economic adviser to President Ronald Reagan, also called the plan a “great plan” and said it “does a very good job of reducing inequality.”
He pointed out that Trump also has a “tough stance” on immigration.
“The plan is a pretty comprehensive proposal,” Brooks said.
He added: “The only thing that could have done this is to take a stand against amnesty and against deporting millions of illegal aliens.
But this is a plan to take massive steps to increase inequality.”
Read the full report from the New Yorker.