A funny thing happened to Fox Business’ Stuart Varney during his segment on Fox and Friends this morning.
Varney was on air to cheer lead Donald Trump’s destructive tax plan to hosts Steve Doocy, Brian Kilmeade and Ainsley Earhardt to their supportive ears, but something went a little off kilter.
Varney was describing how 2 trillion dollars would comeback to the US because of Trump’s low tax rates and Kilmeade said, “That’s called Trumped Up, trickle down…”
Varney replied, “Call it what you like, it works!”
Trump is the David Copperfield of economics!
Kilmeade then pointed out that all experts have said the “guaranteed revenue to the government would be much less” with Trump’s tax plan.
Stuart answered by saying in the first two years, yes, that would be so, but then said, “the growth that creates will increase the revenues going to the treasury…”
Co-host Earhardt was perplexed by his rosy predictions and asked, “How can you be sure of that though. You just hope for growth?”
She continued, “How do you know that that’s definitely going to happen?”
Since Varney, a Fox News economist has no idea how Trump’s tax plan would do the things he says it will, he was forced to use the “magic beans” theory of conservatism and replied, “If you cut people’s taxes dramatically (rich people he means) you’re putting more money back into private hands. They spend it, they invest it. they create jobs, wages go up – you create growth.”
(Let’s ask George Bush about that theory since when he tried it, it failed miserably and we ended up with a financial global meltdown.)
Then came the “some people say” routine coupled with flying unicorns, as he said, “If you put in Donald Trump’s tax plan, I am told and I believe this, you’ll get four percent growth within a couple of years.”
He was told! I’m sold!