“In the next few months, I’m going to lay out a significant very specific economic agenda like I talked about today in terms of what it means to govern as a centrist,” he said on Wednesday.
“So what we need, get the lobbyists out of the way, get the self-dealing out of the way and make sure our tax dollars are being spent properly.”
“I'm thinking of running as a centrist because the system is broke.”
The Trump administration passed the Tax Cuts and Jobs Act at the end of 2017 aimed to spur economic growth and reform the U.S. tax code—including lowering income brackets for most individuals and corporations. The corporate tax rate went to 21 percent from 35 percent. Critics say the tax overhaul has only benefited businesses, the wealthy and has enlarged the federal budget deficit.
“I do feel that President Trump made a significant mistake when he gave the corporations in America from 35 percent to 21 percent without entering a strategic understanding that the country needed comprehensive tax reform,” Schultz said.
Despite Schultz's opinion, the Trump administration has presided over a healthy economy that has seen the lowest unemployment rate since 1969 at 3.8 percent, according to the most recent U.S. Bureau of Labor Statistics.
If Schultz, 64, decides to make a run for the White House, he would be joining a growing field of Democratic candidates that include the likes of Sen. Elizabeth Warren (D-Mass.), Sen. Bernie Sanders (I-Vermont), Sen. Kamala Harris (D-Calif.) and Sen. Corey Booker (D-N.J.).
However, new signs indicate that former Vice President Joe Biden may be very close to entering the 2020 presidential race as allies say his decision could be imminent. If he does decide to run, he may win the backing of Wall Street Democrats as reported by FOX Business.
Schultz said he welcomes Biden as he ponders entering the presidential race, but warns that the growing socialistic agenda backed by some Democrats may impede the former Vice President’s chances to become the party’s nominee.
“I know Vice President Biden well. I have a lot of respect for him. I think it be great if he ran for president,” he said. “I think the question will be whether or not the far-left leaning Democratic platform provides any room for Vice President Biden given the socialistic views being currently talked about.”