CBS’s Stephen Colbert kicked off his week of Democratic guests on Monday by welcoming Clinton-era Labor Secretary Robert Reich to The Late Show to promote his new memoir. During their conversation, neither man displayed an understanding of the proper definition of a tax cut, while Reich smeared former President Ronald Reagan for allegedly making the country less inclusive for women and black people.
Colbert declared, “There may have been a justification for these tax cuts for the wealthiest Americans and adding $4 trillion to the debt. I didn't ever really hear one. I didn't even hear the, sort of, perfunctory, like, ‘Oh, well, you know, the Laffer Curve and the more you cut, the more revenue goes up.’”
He then asked, “Did you hear any justification?”
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