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Tim Murtaugh



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mma 8 24

News outlets reported that Vice President Kamala Harris proposed raising the corporate tax rate to 28% if she wins the presidency this November, partially rolling back the Trump-era tax cuts that slashed corporate taxes.

Even though corporate tax revenue plummeted in response to the Trump tax cuts, and American corporations are undertaxed relative to other developed economies in the OECD, conservative media began assailing Harris’ policy with false claims of immediate and “massive layoffs” and higher inflation.

As the Center on Budget and Policy Priorities has explained, Trump’s 2017 tax cut was skewed to the richest Americans, and the corporate tax cut even moreso, with the bottom 90% of workers gaining nothing from the corporate tax rate cut, while corporate executives earning nearly $1 million a year got an average $50,000 earnings boost. A leading reason that Trump's corporate tax changes benefited the wealthy was the imposition of a flat tax of 21% to replace what had been a graduated rate system, ranging from 15% to 35%.

And thanks to Trump’s tax cuts, even as corporate profits went up during most of his presidency, corporate tax revenue dropped until the pandemic and the years after. Corporate tax revenue as a share of the economy remains near historic lows at under 2% of gross domestic product, and it’s also near historic lows as a share of federal tax revenue. :{

Meanwhile, the Organisation for Economic Co-operations and Development (OECD) average showed corporate tax revenue in 2020 at just over 15% of total tax revenue, and 3% of GDP, showing that U.S. corporations have a very light tax burden in comparison. In 2023, the Institute of Taxation and Economic Policy estimated that raising the corporate tax rate to 28% would raise more than $1.3 trillion in revenue over 10 years.

Yet conservative media reacted to Harris’ proposal with hyperbolic doom and gloom. Citing an analysis from the Tax Foundation, Fox News personalities claimed that raising the corporate tax rate would lead to “massive layoffs” “right off the bat.” Yet the Tax Foundation’s analysis projected a loss of only 128,000 “full-time equivalent jobs” by 2034. This is a drop in the bucket of the millions of jobs projected to be created over the course of a decade. Other conservatives claimed that raising the corporate tax rate would be inflationary; in reality, tax increases are broadly considered deflationary.

* Wash. Times columnist and Trump campaign staffer Tim Murtaugh: “She wants to tax job creators at a higher rate than Chinese communists do.” Murtaugh added: “Who do you think will pay for the tax increase? Do you suppose maybe it’s passed on to consumers like always? Harris is dangerous.” Twitter/X, [8/20/24]

related

  1. ### Fox goes to bat for supermarket price gouging as VP Harris prepares to call out corporate greed

08/15/24

  1. ### Fox Business host struggles to attack Tim Walz’s economic record as governor

08/09/24

  1. ### Economists blame the Fed for jobs report missing expectations. Trump sycophants instead blamed Kamala Harris.

08/02/24

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hmmn aha pattern?  spox w/ no evidence appeals to common sense logic to cover guess or conspiracy notion

https://www.alternet.org/2020/09/cnn-abruptly-cuts-interview-after-trump-aide-refuses-to-offer-evidence-to-back-up-their-conspiracy-theory/

no lnx

CNN abruptly cuts interview after Trump aide refuses to offer evidence to back up their conspiracy theory

Written by Matthew Chapman / Raw Story September 2, 2020

On Tuesday, CNN anchor John Berman confronted President Donald Trump’s campaign communications strategist Tim Murtaugh about the president’s baseless claim about a plane “loaded with thugs” intent on causing riots.

“Tim, what specifically is he talking about there?” asked Berman.

“I don’t have access to the same information the president has,” said Murtaugh. “But John, let me ask you a question about this. The people we saw harassing folks outside the White House in Washington Thursday night, those people knew the names of regular Americans coming out of the White House—”

“I’m sorry, that’s enough,” cut in Berman. “I’m asking you a question about something the president said twice. The president essentially described an airborne assault, or at least an air transport assault, on a convention, and you, as a senior spokesperson for the campaign, says you have no information on it. How can it be that you have no information on it?”

“Someone is organizing these trips,” insisted Murtaugh. “Someone is transporting these people from other states into these other cities.”

“Tim, can you give me — can you give me one piece of evidence that there was any flight carrying these people that the president is describing?” said Berman over Murtaugh’s repeated interruptions. “I’ll state once again. He’s the commander in chief. He controls the military. When he says something about this, when he presents the idea of, again, this airborne assault, whether it be coming to Washington or leaving Washington, it’s important. And all I want to know if it’s in any way tethered to reality. Did it happen?”

“How do you suppose they arrived in Washington, John, if not from an airplane?” said Murtaugh. “How do you suppose 102 people arrested in Wisconsin not from the area? 80 percent of the protesters arrested in Minneapolis not from the area. Did they miracle themselves there?”

“Tim, Tim, Tim, stop, stop, let me ask a question here,” said Berman. “As you have so far not confirmed any specific flight either coming to or leaving Washington the president mentioned, let me point out to you that this mirrors this conspiracy theory circulating online since June, a police department looked into this idea people are being moved around the country in flights wearing all kinds of black t-shirts. Is it possible the president read this and he’s just regurgitating and getting details wrong? Is that possible?”

“Look, Rand Paul told a similar story and congressional hearings have been called into look into who is funding outrageous riots, by the way, Joe Biden has not identified as left wing riots because that’s what they are,” said Murtaugh. “He’s too weak to stand up to the left wing of his party and denounce these riots for what they are, because he’s absolutely in the control of the anti-police wing of today’s Democrat [sic] Party.”

“None of that addresses — Tim, you’ve got no proof,” said Berman, finally losing patience and ending the interview. “Call us when you have information about these flights that the president has mentioned twice.”

Watch below:


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