December 14, 2017

Fox Business Network's Gerri Willis told Shepard Smith that the GOP tax bill really helps corporations and is "the most complicated thing I've ever seen."

The FBN former host came on to discuss the GOP tax bill on Fox News after Trump hosted a dog and pony show earlier on the day about it being a done deal.

She discussed the different tax cuts and rates that are being debated within the House and Senate conferees and made a very honest appraisal.

Willis said, "I still believe that the major benefit goes to corporations. They're going to bump it up to 21% from 20. It's cut currently at 35%. That's a huge cut. And that's not the only benefit the corporations are getting."

She continued, "Remember, they can write down immediate expensing some of their equipment, bring money in from overseas earned in foreign markets at a one-time low rate. These are big benefits for corporations. The administration is betting, is betting and it is a bet, it's not known for sure, that these companies will expand and they will hire more people and do it right here in this country."

Smith asked if corporations were using their wealth to hire people and raise wages for the workers.

Willis said, "But the thing that is still missing -- I know you're concerned about this -- are wages. We still don't have the kind of wage growth that we want to see for Americans where all of that benefit falls to your bottom line and you go out and you spend and you save and you invest."

Shepard was worried about the "unintended consequences" from this monstrous tax bill... that it wasn't properly vetted and analyzed because Republicans are trying to get it done at a record pace.

Shep said, "You miss a lot of things that the corporate tax lawyers and tax accountants and tax attorneys will go in and find and give the rich people who are already getting a bit of a break, here more of a break and more loopholes and they find themselves billions of dollars short. How much of a concern is that?"

She agreed, "That's an issue."

Gerri continued, "This is not tax simplification."

"When you start peeling away what it means for small business, oh my lord, have mercy, it's the most complicated thing I've ever seen. It's super complicated and you know that once those tax attorneys get in there, it going to be even more complicated," Willis said.

Not a very optimistic outlook I'd say.

And the whole idea that our tax returns have now been simplified into a one-page document that is easy-peasy has always been a joke.

"If we can do it on one page," Trump said at a press conference on Monday. "Now, in some cases, it may be two pages."

Good luck with that lie.

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