Posted on 02/08/2016 4:30:07 AM PST by Cincinatus' Wife
Steve Forbes ran for president twice -- in 1996 and 2000 -- spending a reported $69 million of his own money in failed bids to win the Republican nomination. His campaigns mostly focused on establishing a flat income tax and other similar economic reforms.
The multi-millionaire chairman and editor-in-chief of Forbes Media isn't running for president this time around, but he does have a new book out this week (Reviving America), promoting three big reforms he believes America should adopt: repeal and replace Obamacare with something akin to a free-market health-care system; scrapping the Federal income tax code in favor of a flat tax; and overhauling the Federal Reserve, including re-linking the U.S. dollar with the price of gold.
We sat down with Forbes, 68, for a brief chat during a visit to TheStreet offices in New York. Here's what he had to say about Donald Trump, what other Republican candidates need to do, and who he's considering supporting for president. This interview has been condensed for clarity and length.
Must Read: Steve Forbes' Plan to Revive America: Drop Obamacare, Flatten Tax Code
TheStreet: Donald Trump has made a huge splash in this election.
Steve Forbes: He's tapped into -- in a way I don't think he anticipated, nor did anyone else -- into the depth of the anger, frustration, contempt of Americans for the political class.
As you know, most Americans still think we're in a recession. Most Americans have seen their real wages decline in the last six years. They sense -- they don't have to be told it -- that this is the worst recovery from a recession in American history.
Then you compound that with the feeling that this current administration does not have its heart in fighting Islamic terrorism...that's a lethal combination.
The question becomes which candidate or candidates are going to be able to tap into it in a positive way, like Reagan did in the late '70s and early '80s.
TST: It sounds like you're implying that he's tapped into something very cleverly, but his message isn't positive or the right Republican or conservative message.
SF: It's been a mixed message. His tax plan is pretty good. It's not a flat tax, which I advocate, and several other candidates have gotten on board. Certainly what he's proposed is better than what we have today. On trade, I am a free trader. I don't want tariffs -- to me, tariffs are taxes.
And on immigration, I think his proposals are a non-starter, legally and morally. But what is out there is that people do want far more effective methods in dealing with Islamic terrorism.
So, what he has sensed in a way the others haven't is what the mood of a lot of people is. Every time he makes a statement, it causes a "hoo-ha."
What candidates should be doing is not complaining about trump. They can denounce his proposals, but instead of whining about it -- that he sucks the oxygen out of the room -- if you want to be heard, have something to say.
If you ask voters, what is Jeb Bush's theme? Blank. What are the others' themes? Well, they have some good ideas, but they haven't connected the dots -- the way that Reagan did in '80, the way that Kennedy did in '60. These people who make their living in politics haven't stepped up to the plate and acted like entrepreneurs -- if I have a message, how do I get it out there? If the electorate has changed, how do I do it?
TST: Do you think he has a chance of winning the Republican nomination?
SF: I'm humbled. I don't rule anything out now. Who would have thought Bernie sanders, looking at the other side would get 30%-to-40% of the vote -- everyone is focused on Republicans but look at this guy!
It shows people are dissatisfied, whether it's on the left or on the right.
TST: Is there someone you do support for president?
SF: No. I compare it to the dating game. I keep on looking at the candidates and finding good things in some and trying to piece it all together.
TST: Based on some of the policies you put forward in your new book, that you've been putting forward for a while, if I could just reach a little bit, it sounds like Rand Paul is a candidate that would be close to getting your support. Is he or any of the other candidates maybe a little bit in the lead in terms of your support?
SF: I don't agree with him on foreign policy. But I think both he and [Ted] Cruz, Cruz especially, is ahead of understanding the problems at the Fed. So, I like that. They both have flat tax proposals, but I wish they'd get rid of the VAT component. So, none are quite there, but some get pieces of it.
[Marco] Rubio for example is very good on foreign policy but his tax proposal is one of the worst ones out there.
I read it.
Do you?
Yep!
What lies have I posted?
Thanks. I guess that is a "compliment." I spend time putting threads together. Nothing from any "prepared catalogue."
That's a real nice Alinsky post there Sam.
Now this is an interesting line of attack - debating my sex.
What gives with that?
” and overhauling the Federal Reserve, including re-linking the U.S. dollar with the price of gold. “
Six Presidents have tried to do this. Six were assassinated.
!
Obviously. Where do you think the excerpt came from.
I realize it’s an inconvenient portion if the intent is to portray Cruz a super swell fit for Libertarians.
Libertarians barely have a lesser of evils candidate. Trump is the most noninterventionist, that’s a biggie for them and has been pointed out often on the cable news shows featuring Libertarian hosts and panels. Kennedy’s FBN had Ron Paul on last week, he’s recommending support of any third party candidate.
Maybe he means “brouhaha”...?
When I’ve heard “hoo-ha” it didn’t mean that at all.
Steve Forbes = Establishment Fraud
Steve Forbes is all about rigged trade deals. This is why he does not care for Trump.
Probably just recently added to the 24/7 Snarkmeister List for convenient copy / paste one liner driving by.
Bless their hearts. And thank them for the bumps. It does help.
You have given me a very good reason to bother with you and your efforts. Since I’m self funded just like your nemesis, Donald Trump, I must learn on the job and you have been a great motivator.
But I have no interest in a school yard challenge, actually I know you would win a pissing contest as I have witnessed you besting all that stand up to you. Hell you could even be a moderator for all I know, but you certainly have skills.
I think that you are more than one poster running a shift and probably multiple screen logins so I’m thinking that maybe you could use another “entity”. So here I am; are there open positions available with this or perhaps one of the other gigs you run?
It’s just words, people really don’t pay attention to “just words”.
Your sex, if you have any, is definitely not important but I think other posters might want to know.
I’ll decide later if I’m going to spend more time with your game; I’m still a working man.
Oh by the way, people have asked if you have donated to the cause this quarter. Have you donated to the cause this quarter? Use paypal, everyone likes paypal.
I disagree with Steve Forbes on immigration and so called “free trade.” I prefer fair trade. I prefer a flat rate or fair tax and am not in favor of any type of VAT tax at all. Unless there is a constitutional amendment, I believe a VAT tax will be on top of an income tax.
While I understand why he is doing it, (and he is correct that the administrative costs overwhelm the tax collected itself), I wish Trump’s tax plan mandated that everyone pay something. I’m one of those that believes that these are the membership dues we pay to live in America. But he’s correct that it makes no sense to spend $ 20.00 in gov’t processing to collect $ 6.00 in tax. Guess this is a heart over head issue for me.
I realize that some are accusing you of posting this as a Trump hit piece, but I don’t think that is accurate. Forbes is just airing his opinion and I didn’t take it as an attack article.
I’m a Trump fan. If elected, there are occasions when I am sure he is going to make me so mad that I’ll want to yank my hair out, and other times when I’ll erupt in applause. Same as all the rest of them, btw.
But the economy is going to crash, as sure as I am sitting here, because Obama has not fixed a damn thing — just operated so nothing blows up on his watch. We had better have someone with an economic & financial background at the wheel, preferably without the crony capitalists whispering in his ear the whole time.
I’m never gonna have another opportunity to vote for a citizen president (and I’m no spring chicken), who is largely paying his own way.
And I don’t intend to miss my chance. :)
Real men don’t ping Jim when articles cause them butthurt. Mean Girls do that.
“I would like to know what fraud-boy’s proposed VAT rate is.”
Correction:
I would like to know at what % fraud-boy’s proposed VAT rate BEGINS.
I cannot recall ANY tax/fee/fine, let alone ‘voluntary’ rule/reg, that wasn’t made permanent, nor stayed at which it began.
Must be from the Ryan school of economics:
1.2%/yr wage increase? Guess that wouldn’t have the same ring to it as 12.2% (over a decade)
“Imagine a 10 percent income tax, with every American filling out”. Um, that’s those that HAVE ‘income’. What about those ‘under the table’, unemployed/retired, etc.? Do they NOT also use govt services they should be paying??
Define ‘as we know it’. Why not just ABOLISH? Ah, because someone must ‘verify’ the return still!
NO. MORE. SLAVE. TAX. Consumption only. ALL pay, NO IRS and, best of all, VOLUNTARY.
Well, Sam, you could not be more wrong if you had tried.
I think that you're "thinking" too much.
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