Fox Business Network’s Trish Regan has been merciless in her criticism of the Republican tax bill — recently signed into law by President Donald Trump. Her position hasn’t gotten much support on the Fox News or Fox Business airwaves. But on Thursday, she found an unlikely ally.
Appearing on The Intelligence Report, conservative economist Ben Stein joined Regan to denounce the new laws. Specifically, the two teed off on carried interest — a loophole in which private equity firms and hedge funds have their profits taxed at approximately half the rate of regular income tax. It’s a provision that Trump repeatedly promised to kill on the campaign trail. Regan blasted the president for breaking his promise.
“I mean this is what Americans rebelled against, right?” Regan said. “I think in part this election, and reason why they sent Donald Trump there, I found it very refreshing on the campaign trail when he kept saying he wanted to close this carried interest loophole…Ben, I’ve gotta tell you, I was shocked.”
Stein agreed — dismissing a provision that requires investments to be held for more than three years to be taxed at the lower rate as, “very much of a scam.”
Regan blasted those who have tried to claim that the public doesn’t know or care about the concept of carried interest. Stein called that idea “scandalous.”
“It’s insane what you can buy in politics in terms of the tax code,” Stein said. “The idea people don’t understand it and therefore we can do it, that’s just a disgraceful excuse.”
Watch above, via Fox Business.
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