Stevenson: This Is the ‘Most Regressive’ Tax Increase Ever Been Passed in the U.S., Trump Doesn’t Have the Power to Tax Like That

RUSH TRANSCRIPT:
HAYES: “Betsy, it does also seem to me that this is linked to the taxes. He wants tariff revenue to offset the big tax cut for the rich. And this is actually a big part of the logic here, which he has stated explicitly.”

STEVENSON: “I think what’s I think that’s absolutely right. And look. It is going to raise. Tax revenue. These are. Huge tariffs. It’s a big tax increase. This is the largest. Most regressive tax increase that’s ever been passed in the U.S. and you. Know the president. Doesn’t actually have the power to. Tax like that. Congress does. And so. If you. Want to get rid of the income. Tax and have a. Vat, let’s debate it. Let’s get. Congress in on it. And we don’t need. To. Do it by punishing just foreign producers. You got to move the whole thing to a consumption tax.”