At least one reporter understands economics. CNBC’s Melissa Francis told “On the Money” viewers March 15 that their taxes were going to get hiked “if the Democrats get their way.” The fun twist? Francis and her colleagues couldn’t find any Democratic politician, strategist or even a think tank cohort to come on the show and tell the American people why raising their taxes would be a good idea.
“I don’t understand. How does raising taxes and stifling economic growth keep America great?” Francis asked her guests, Pat Toomey of the Club for Growth and Jack Burkman, a Republican strategist. The rest of the segment was shooting fish in a barrel, pointing to the economy’s strong growth following the 2003 tax rate cuts.
And Francis proved she has more of an economic understanding than a majority of reporters: “If there were a Democrat that was willing to come on this show tonight, they might say something like, you know, they’re trying to pay for the budget, or they’re trying to, you know, slim down the deficit,” Francis said. “But I was always taught when I studied economics that when you raise taxes, you might end up with less revenue.”
Video clip: Real (1.54 MB), plus MP3 (272 KB).
