Dagen McDowell, during a discussion on Fox Business, criticized the Department of Government Efficiency’s attempts to cut the federal deficit by using what she referred to as 'Elon Musk Math.' McDowell argued that increasing taxes on high earners without addressing excessive spending is unjustifiable. Along with her co-hosts, they discussed the ongoing $2 trillion deficit predicted for the year, expressing skepticism about the government's financial strategies and the need for genuine spending cuts rather than revenue increases, especially amid economic instability caused by trade wars.
After guest Daniel Newman added that higher taxes would add still more uncertainty amidst President Donald Trump's trade wars, McDowell weighed in. "It's also the creep's way out and I use the word creep because they want to let the top rate creep up the creepy way out of not cutting spending," she argued. "And it's just the fact that we're running more than a $2 trillion deficit this year, it will come in higher than Joe Biden's last year in office."
McDowell's comments came during a wide-ranging discussion over the economy, proposals from Trump allies to raise tax rates on high-earners, and the deficit. "You can't go and leave, you know, spending at levels that are, you know, costing this country and then say to the people who are already paying 46 percent of the federal income tax that you need to pay more for services that you don't get a benefit from because we want to recklessly spend," DeAngelis stated.
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