MSNBC’s Stephanie Ruhle said Thursday that companies don’t need a tax cut and will be satisfied by slashing regulations in their industries.
The GOP’s proposed tax bill released on Thursday would slash corporate tax rates. President Donald Trump has repeatedly called for lowering the corporate rate, as the United States has the highest corporate tax rate among advanced economies.
However, Ruhle argued that businesses don’t need a tax cut.
“For large and small businesses, regulation is a bigger issue than taxes are and they’re cleaning house in terms of regulation…they’re doing it right under our nose while we’re not paying attention,” Ruhle said. “Cutting their taxes is not what companies need.”
“That’s absolutely right and will, at most, in the most rosy scenarios, add half a point to GDP over a year or two which maybe adds some wages for folks, maybe doesn’t,” her guest agreed. “But it’s not going to be a game changer for the economy.”