Carly Fiorina: Income Inequality Is Worse Under Progressive Policies

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CHRIS WALLACE: What would President Fiorina do to jump-start this economy and be specific?

CARLY FIORINA: First, we have to remember what the engine of economic growth is in this nation. You know what it is? Small businesses. Family-owned businesses. Community-based businesses. I started out as a nine-person real estate firm typing and filing. That's how most people start. Two-thirds of misses are supported by small businesses. We're crushing them. That's why we have to roll back this regulatory burden. Take a 70,000 page tax code and make it three pages. Because guess what. When have a big costly complicated government. Only the big, the powerful, wealthy and well connected can deal with it. It's called crony capitalism. It is why we just reduce the size of government. So, we have to get small businesses up and growing again. To do so, we just reduce the power, the scope, the complexity of government.

CHRIS WALLACE: What would you do about taxes? Are you going to cut corporate taxes? Are you going to cut taxes on the higher income people? And if you do, or if you're going to campaign on that, you know that Hillary Clinton will say trickle down economics?

CARLY FIORINA: Yeah, we have about a 75,000 page tax code today. And that complexity favors the wealthy and the big and the well had connected because they have hire the accountants and lawyers to figure out how to make that complexity work for them. We got to get it down three. The lower over rate, close every loophole. Maybe there's one or two loopholes that really help the middle class, but most of these deductions and loopholes and complexities actually benefit the wealthy, the powerful, the well connected. But yes, our tax code isn't competitive anymore. It's ridiculous that we have the highest tax rate in the world when we're trying to attract jobs here. So lower every rate, close every loophole.

CHRIS WALLACE: So when Hillary Clinton says, "Yeah, and the rich are going to make out like bandits."

CARLY FIORINA: What I would point out to Hillary Clinton is that every single one of the policies that she is currently pursuing makes income inequality worse. Exhibit A: income inequality under the Obama administration. Exhibit B: every liberal state in this nation. I spent twelve years in the state of California, a state that's been ruled by liberals for a long time. And guess what you have: about a hundred and thirty billionaires--good for them--the highest poverty rates in the nation, the exodus of the middle class, the destruction of industry after industry after industry. Income inequality is worse under progressive policies, because progressive policies favor the wealthy, the well-connected, and the powerful.

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