Fox News Admits GOP Tax Plans Would Put America Trillions Of Dollars In Debt (VIDEO)

After last Wednesday’s GOP debate, it’s becoming difficult for even conservatives to agree that the current Republican candidates have reasonable solutions for improving and running America – especially when it comes to taxes and the federal budget.

This indisputable fact was highlighted on Thursday’s edition of Fox News’ Shepard Smith Reporting, when it was revealed by economists that the GOP candidates’ tax plans would actually drive UP national debt. Even worse, some of the presidential hopeful’s plans would add as much as trillions of dollars to America’s debt. Smith brought on Fox Business Network’s Peter Barnes to talk about how the Republican tax plans differed from each other, and the results were hard to swallow.

Using the results from an analysis done by the Tax Foundation, Barnes gave a run-down of tax plans from Bush, Cruz, Jindal, Paul, Rubio, Santorum, and Trump. Barnes reported:

“Jeb Bush reduced the seven current personal income tax brackets to three with the top rate of 28 percent instead of 39.6. He’d cap capital gains taxes at 20 percent and he’d cut the top corporate tax rate from 35 percent to 20 percent. Marco Rubio wants two personal tax brackets with a top tax rate of 35 percent. You’d pay no taxes on capital gains and investment gains with him. His corporate tax rate would be 25 percent. And for Donald Trump, there would be three brackets with a 25 percent top rate. Capital gains would be taxed at 20 percent and he wants a 15 percent top corporate tax rate. Now even assuming higher economic growth for all of these plans, the Tax Foundation estimates they’d add as little as $1.6 trillion more to the national debt in Bush’s case, and as much as $10 trillion more to the national debt for Trump.”

And this is when Smith had to make sure he heard that correctly:

“Wait, Trump’s tax plan adds $10 trillion to the national debt?”

Barnes replied, “Yeah, and the difference is with how many other deductions you eliminate, and he eliminates a whole lot more of them.”

You can watch the Fox News host’s bewildered reaction below:

Republicans just don’t have it together when it comes to finding solutions that will actually work. The day after the GOP debate, Forbes investment contributor Stan Callender wrote about how the candidates addressed economic issues:

“They disagreed with nonpartisan analyses that showed their tax plans losing trillions even when those scores were produced using the GOP-preferred dynamic scoring techniques. … There was nothing that should give anyone any comfort that comprehensive tax reform will happen any time — as in multiple years — soon. And it’s hard to imagine how what was said will do anything but fortify the ultra conservatives in the House and Senate and make them even more likely to act as legislative terrorists on anything related to the federal budget.”

Slate even wrote an article about the debate, and titled it, “Which Republican Has the Most Delusional Tax Plan?”

But for Fox News to report this news is an entirely different matter. When a presidential candidate’s own party calls them out as being harmful to the economy (and adding trillions of dollars to the national debt is pretty harmful), it’s time to take notice and wise up.

Featured image via video screen capture