Scarborough: The GOP tax plan 'steals' $1.5 trillion from millennials

Joe Scarborough slammed the GOP tax plan on Monday, saying that by increasing the deficit over the next decade it would “steal” trillions of dollars from young voters.

The “Morning Joe” host, along with other panelists, criticized the bill for cutting corporate tax rates and increasing the deficit.


“Millennials, you just had $1.5 trillion stolen from you,” Scarborough said. “Past Congresses have stolen $20 trillion from you, and over the next ten years, they’re going to steal another $10 trillion from you. And they’re going to die, and then you’re going to be left holding the bill.”

Most analysis of the GOP tax bill has suggested it will add at least $1 trillion to the deficit in the next decade.

The Joint Committee on Taxation estimated that the proposed plan would increase the deficit by nearly $1.5 trillion over the next decade.

Republicans argue that the tax cuts will unleash economic growth that will increase government revenue, but independent studies have yet to bear that out.

Scarborough said that the bill is “going to turn a lot of people into socialists” and damage the national economy. He blamed both Democrats and Republicans for not being “responsible” about the debt.

“Republicans who claim to care about the debt are voting to steal $1.5 trillion from millennials, the very people who, 48 percent are saying, ‘no, we don’t like the Republican Party,’” Scarborough said.

Congress is expected to vote on the final plan, which cuts the corporate tax rate, overhauls the tax code and increases the standard deduction, this week, falling in line with a timeline to send a bill to President TrumpDonald John TrumpSchiff blasts Trump for making 'false claims' about Russia intel: 'You've betrayed America. Again.' Poll: Sanders leads 2020 Democratic field with 28 percent, followed by Warren and Biden More than 6 in 10 expect Trump to be reelected: poll MORE’s desk by Christmas.