Robert Reich Runs Circles Around Trump's Former Economic Adviser Stephen Moore

A CNN discussion on the Republican plan to decrease taxes on corporations did not go well for conservative contributor and former Trump economic adviser Stephen Moore when former U.S. labor secretary Robert Reich called his bluff.

“We did this in 2004; Steve Moore is acting like we didn’t have an experiment to test this theory. Under the George W. Bush administration, we did have a repatriation, a tax holiday and what did corporations do with all that extra money? Did they invest it? Create more jobs? No!” Reich explained. “They just brought back their shares of stock, pumped up share prices, provided more executive pay to the top executives—we’ve done it and we’ve seen that there are no results."

Moore was undeterred by the facts and carried on with his dubious economic position.

“Explain to me why it’s good for America that we have a 40 percent tax rate way up here and the rest of the world is at 20 percent down here,” he responded with gesticulation outside the camera frame. "It just doesn't work for America."

Reich shut that argument down.

“Well, it does because the effective tax rate—that is, what corporations are actually paying—is just about the same as other foreign corporations are paying."

Watch the exchange below.

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

DonateDonate by credit card


Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.