The wealthiest Americans should not have a lower tax rate and they do not need another luxury car, economist Ben Stein told Newsmax TV.
During an appearance on "The Joe Pags Show," Stein discussed the Trump administration's tax plan and how it relates to private citizens and corporations.
"Like everyone else, I am in favor of lower taxes, but I am not in favor of lowering tax on very, very rich people. If people are very, very rich they don't need lower taxes. That's what it means to be very rich," said Stein, the author of the new book, "The Capitalist Code: It Can Save Your Life and Make You Very Rich."
"I happen to live in a neighborhood at least for a while now that where practically every house has two Bentleys sitting in front of it or on the driveway. They don't need to have a third Bentley. They can have their two Bentleys. We just want them to pay their fair share of the tax, and then we want to go and live our lives."
Stein also said he is in favor of erasing the corporate tax and instead placing a tax on stockholders who own the company, which is unlikely to happen. The Trump administration is trying to lower the rate from 35 percent down to somewhere around 20 percent.
Stein also spoke about his book and argued why investing in the stock market can lead to a comfortable retirement down the road.
"A very simple way of making yourself a successful businessman or businesswoman is to buy stock in the New York Stock Exchange," Stein said.
"It will change your life. You will attach yourself to the gigantically powerful train of free market capitalism and you let it pull you along for the ride."
Ben Stein's new book, "The Capitalist Code," is available at bookstores everywhere or check out the FREE Offer — Go Here Now.