Stockman: Here’s Why Trump’s Tax Plan Won’t Stimulate the Economy Like Reagan’s

RUSH EXCERPT:

BARTIROMO: "Joining us right now former a regular budget director David Stockman you have been here during a regular years able to pass incredible tax reform in that same interview Mnuchin said gains will be in general he said there is an absolute guarantee a tax overhaul will be signed into law by end of year reasonable timetable."
STOCKMAN: "No, he said that about eight times, first it was in May, then August, then October I think the guy clueless a big, big tax cut notion is a pipe demonstrator they can't pay for it different environment than 1981, 1928 debt 940 billion, 30 percent GDP there was plenty of room to have a giant tax cut that was paid for by borrowing, today, they have to find pay-fors, loopholes, they can't find any, even the state and local tax savings allegedly 1.3 trillion over 10 years is falling by the way side, day by day, so I think there is ending up with no tax bill or one that is so modest or so minor very little impact on the economy."
BARTIROMO: "You don't believe Mnuchin when he says growth will happen as a result of lower taxes, that will partly pay for this?"
STOCKMAN: "No, I don't believe that for a minute, because they are not cutting taxes on marginal rates that are high already we have a 70 percent marginal rate 1981 the fop rate today 39.6 percent just said we are going to keep the fourth bracket not cutting at all."