The upcoming week undoubtedly will yield a plethora of articles on Donald Trump and VP pick Gov. Mike Pence’s differences and similarities. From a tax policy perspective, a review of the Indiana governor’s record reveals he and Donald Trump are on the same page.
Whether in his current position as governor of Indiana or as a member of the House of Representatives for more than a decade, Pence (who is a devotee of Arthur Laffer and has signed Grover Norquist’s no tax pledge) has fought time and again to enact extremely regressive and unaffordable tax cuts.
He has been a longtime advocate of the discredited supply-side economic policies that purport tax cuts for the rich will generate rapid economic growth. In picking Pence, Donald Trump has chosen someone whose tax policy positions fall in line with his recent tax policy declarations.
While Trump has been inconsistent on tax policy in the past, his most recent tax plan would cut taxes by $12 trillion over the next decade and direct 70 percent of that tax cut to the top 20 percent of taxpayers, a skewed tax policy approach that Pence’s record indicates he would support.