Former Reagan Budget Director Says Wall St. Doesn’t Need Another Tax Cut: ‘They Don’t Deserve It’

This morning on ABC’s This Week, host Christiane Amanpour asked Rep. Mike Pence (R-IN) whether he considers it “fair” that the richest Americans should get an extra tax cut. “What’s not fair,” Pence responded in defense of the Bush tax cuts for the wealthy, “is that you would actually allow a tax increase on job creators.” Former Reagan Budget Director David Stockman, who ushered in one of the most sweeping tax cuts in history, rejected Pence’s argument:

Two years after the crisis on Wall Street, it has been announced that bonuses this year will be $144 billion — the highest in history. That’s who’s gonna get this tax cut on the top, you know, 2 percent of the population. They don’t need a tax cut. They don’t deserve it. And therefore, what we have to do is focus on Main Street.

Watch it: