ONE of the most senior Republicans in the United States Senate has praised UK Labour’s economic plans, likening them to the approach of former US president Ronald Reagan.
Chuck Grassley, an 88-year-old senator from Iowa, praised shadow chancellor Rachel Reeves’s refusal to bring in higher taxes on the wealthy if Labour win the next General Election.
Last week, Reeves said her party had no plans to bring in a wealth tax or increase income tax because she didn’t “see the way to prosperity as being through taxation”.
Reacting to President Joe Biden’s plans to raise personal and corporate tax rates, Grassley praised Reeves for shunning higher taxes and relying on economic growth to distribute wealth, describing her plans as “very Reaganesque”.
“Senate Dems wake-up and take a cue fr British Labor Party (sp).
Senate Dems wake-up and take a cue fr British Labor Party. Read Shadow Chancellor of Exchequer Reeves interview in Telegraph No tax increases and no wealth tax. She is for wealth creation She feels u don’t tax ur way out economic prob. U grow ur way out. VERY REAGANESQUE
— Chuck Grassley (@ChuckGrassley) September 1, 2023
“Read Shadow Chancellor of Exchequer Reeves interview in Telegraph. No tax increases and no wealth tax.
“She is for wealth creation. She feels u don’t tax ur way out economic prob. U grow ur way out.
“VERY REAGANESQUE”.
Grassley accepted the endorsement of Donald Trump during his 2022 re-election campaign despite previously criticising the former president for refusing to accept the results of the 2020 election.
He also voted against creating an independent commission to investigate the January 6 attack of the US Capitol building.
Campaign group Green New Deal Rising said Grassley’s endorsement was nothing to be proud of.
“Rachel Reeves receiving a glowing endorsement from a rightwing Republican Senator.
“He is delighted there'll be no wealth tax. We're not.
“Reaganomics in the US and Thatcherism in the UK made the rich richer and the poor poorer. We need to build a fairer society.”
Ronald Reagan's conservative economic policies in America were often compared to those of Margaret Thatcher in the UK during the 1980's.
