There are so many Republican Congressmen like Chris Stewart of Utah, dim bulbs whose one talent is parroting trickle down economics talking points as well as Trump defenses, and no moral compass when it comes to the needs of average Americans.
In this clip from today's Velshi & Ruhle, the hosts try to ask about why permanent tax cuts are given to corporations (who are sitting on mountains of cash in a time of record-setting profits) while only temporary tax cuts are given to average taxpayers.
Not to mention this whole plan explodes the deficit.
Of course Congressman Stewart wants spending cuts to match the tax cut. That's how they roll. But when Velshi and Ruhle get into specifics, that there will be AUTOMATIC cuts to Medicare if Congress doesn't act to block them, Stewart just says "Yeah." and moves on.
I don't think Stephanie Ruhle could believe it.
No, Stephanie, that is the plan. Cutting Medicare and privatizing Social Security IS THE PLAN. Anyone who doesn't see that needs to start watching this video at the 2:15 mark.
TRANSCRIPT:
ALI VELSHI: This is not something you'd be stuck on. The Republicans in the house and the Republicans in the Senate didn't see fit to take away carried interest. Yet, tax rebates -- or tax reductions on people who earn less than $75,000 will sunset and go away. But corporate cuts are permanent. Again, I don't understand it, sir. Look at the performance in corporations over the last ten years. They have done spectacularly well. Money is basically free. Corporate profitability is very high. Why did they need goosing but the average American gets a sunset on their tax cuts?
REP CHRIS STEWART (R-UT): To get a significant tax cut in this plan. The average corporation is going to get a significant tax cut in this plan. Why do you think that's a bad idea? Why do you think it's a bad idea to simplify it? You keep saying the average -- let me ask you -- go -- respond to my question now. Why is that a bad idea?
VELSHI: Who said it is a bad idea?
STEWART: Why are you fighting against it? Everything in your conversation indicates you think it is a bad idea. It is disingenuous. Why are you opposing the Republicans on the plan if you support us in the goals?
VELSHI: The average corporation is getting a tax cut that is permanent. The average taxpayer is getting a small tax cut that is temporary and will result in them paying higher taxes, starting two years from now.
STEWART: If we made those permanent for the American people as well as corporations -- then you'd have a huge deficit.
VELSHI: Why would you support it? It tends to be a problem for Republicans.
STEWART: If that is what you're objecting to, would you support us if we made it permanent for individuals, as well?
VELSHI: No, you have to look at a few things.
STEWART: That's my point. Why do you object to this? Oh, my heavens, this is simple.
VELSHI: Congressman --
STEWART: ...we're cutting corporate taxes, people's taxes and simplifying.
VELSHI: Republicans used to care about deficits. You don't care to now. Estimates are between $500 million and $2 trillion in additional deficit. That's after you use dynamic scoring and top growth.
STEWART: So glad you brought that up. Work with us then to do additional cuts so we don't have a bigger deficit.
VELSHI: The bottom line is, we don't have guarantees of that. My only concern, sir, is if your corporation --
STEWART: you work with us for additional cuts? I'm not talking tax cuts. I'm talking cuts in spending.
VELSHI: Why are we getting corporations tax cuts when you cut things regular people use and not give them permanent tax cuts?
STEWART: Because it grows the economy.
STEPHANIE RUHLE: There is a trigger -- I -- -- you'll see Medicare gets a huge cut.
STEWART: Okay.
RUHLE: That's a positive for you?
STEWART: No, no. Of course not.
VELSHI: When you add to the national debt, you're going to cut programs.
STEWART: You guys are so fun. This is fun for me. Look, will you work with us then to cut spending so we don't have national debt? I promise you, you guys haven't been worried about our debt for a long, long time. Now with this corporate and individual tax cuts, you are? So let's talk about cutting spending. Will you work with us and agree that we need to cut spending so we don't -- explain that to me. So we don't have a deficit.
VELSHI: Why can you not cut the corporate taxes? Are companies in America suffering?
STEWART: Because you have to grow the economy.
VELSHI: Look at the stock market, it is record highs.
STEWART: It is going to grow the economy.
VELSHI: Do you think all these companies that are at record high equity prices and record high profitability are going to somehow say, hey, we got a tax cut. What are we going to do, build another factory and employ more people?
STEWART: Of course, that's exactly right. You got the picture.
VELSHI: -- demand, consumer demand causes growth, sir.
STEWART: Bank of America/Merrill lynch did a survey of CEOs. When asked what they'd do with the additional money, they said buybacks and dividends.
STEWART: [Who now just flat-out lies.] What happens to the money when it is paid out in dividends? It causes the economy to grow.
VELSHI: That's basic trickle-down economics, which we don't really have a lot of evidence it works.
RUHLE: When people have more money -- you see the experiment they tried in Kansas? They had to reverse it.
STEWART: When people have more money to spend, it grows the economy. That's a simple fact.
VELSHI: All right. When regular people have more money, and they're not getting more money out of this.
STEWART: How many people get dividends? Tens of millions of regular people.
VELSHI: The stock market benefits mostly the wealthiest people in the country.
STEWART: [Who knows exactly how long this segment is and that he's fulfilled his mission of running out the clock with "growth" BS] Fun talking to you. I wish we had more we agreed on. Once again, you keep fighting, but we're going to keep saying tax cuts middle America simplifies and grows the economy.
VELSHI: Doesn't seem to be what this is. But we thank you for your time.
STEWART: We'll see.
VELSHI: Congressman Chris Stewart of Utah is on the appropriations committee and intelligence committee.
