Appearing on CNBC's Squawk Box this morning, Pawlenty proposed cutting top income tax rates and getting rid of taxes on dividends, capital gains, interest income, and estates. According to Pawlenty, these tax cuts would pay for themselves by sparking GDP growth of 5% per year for ten years. Never mind the fact that sustaining that kind of growth for that length of time is a pipe dream.
So wouldn't such policies likely increase wealth inequality in America? Sure but Pawlenty doesn't care:
The measure of a successful economy is not whether some small percentage of people get a little more wealth or a little less wealth. . . . I don't care if we shift the wealth a little this way or that way. . . . Don't measure this by whether of few more people get a little wealthy or not.Pawlenty made it clear who he is looking out for, "Every business leader across every sector of this economy large or small across the whole country that I meet with says essentially the same thing, 'Get the government off my back'." Like the way that government got off Wall Street's back over the last thirty years? How did that work out?