Chris Wallace Schools Pawlenty: 5 Percent Growth Came After Tax Increases
By Marie Diamond on Jun 12, 2011 at 10:50 am
Republican presidential contender and former Minnesota governor Tim Pawlenty may have been expecting a friendly reception when he sat down for an interview this morning with Fox News’ Chris Wallace. But he didn’t get one. The Fox host hammered Pawlenty on his recently released — and fantastically unrealistic — economic plan, which slashes taxes for corporations and millionaires while assuming unrealistic growth estimates.
Pawlenty’s plan would cost $7.8 trillion, or triple the size of the Bush tax cuts, and explode the deficit. Furthermore, his plan’s incredulously assumes 5 percent growth for 10 years in a row while eliminating revenue. As Wallace pointed out, there have only been two times in recent history when the U.S. has achieved 5 percent growth — and they both came after tax increases. Pawlenty seemed stumped by how to respond to this ugly truth about his so-called “pro-growth” plan:
http://thinkprogress.org/politics/2011/06/12/243076/pawlenty-vs-chris-wallace-five-percent-growth/
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