Stockman: Trump's Tax Plan Dead Before Arrival

By White House FOXBusiness

Trump's tax cuts won't pay for themselves: David Stockman

Former Reagan Budget Director David Stockman explains why President Trump's tax plan is dead before arrival.

“Trumped” author David Stockman on Tuesday discussed why he is skeptical of President Trump’s tax reform bill and what he would do, if he were president, to help grow the economy.

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“The reason we now have Trump proposing a huge corporate tax cut without paying for it is that everybody is at a dead end. This thing will be dead before arrival. Even the profligate politicians on Capitol Hill are not going to cut revenue by $2 trillion over a decade and not replace it with something,” he said on Cavuto Coast to Coast.

The former Reagan budget director believes that President Trump needs to work on eliminating the national debt, not add to it.

“He’s [Trump] proving that he is a 70-year-old kid in a candy store, who wants one of everything. More defense, more veterans, walls, law enforcement, infrastructure, tax cuts, phenomenal tax cuts for everybody,” he said.

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Stockman also broke down how he would balance the federal budget.

“I would slash defense not increase it, I would reform social security and Medicare and make the wealthy retirees pay their own way. I would dramatically reduce the size of Washington in a big block grant and send it back to the states and I would unleash the American health care consumer by giving him his money back so that we have real consumers shopping in the health care market,” he said.