Paul Ryan's Stunning Tax Cut Admission
December 21, 2017
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11:04Now PlayingPaul Ryan's Stunning Tax Cut Admission
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as posted by the channelPaul Ryan just admitting that ‘nobody knows’ whether the tax bill will pay for itself. Cenk Uygur and John Iadarola, the hosts of The Young Turks, break down Paul Ryan’s stunning admission. Tell us what you think in the comment section below.
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“House Speaker Paul Ryan (R-WI) said Wednesday that “nobody knows” if Republicans’ tax bill, which would overwhelmingly benefit corporations and the wealthy while adding more than $1.4 trillion to the deficit, would pay for itself.
“Are you saying that the growth you’re going to get from this tax cut will equal the amount it would cost on the deficit side, so that it’s a wash?” Savannah Guthrie asked Ryan in an interview Wednesday.
“Nobody knows the answer to that question, because that’s in the future,” Ryan said. “But what we do know is that this will increase economic growth.”
The CBO estimated in late November that the tax bill would add more than $1.4 trillion to the deficit over 10 years.
Ryan also said, incorrectly, that “every study under the sun” showed that Republicans’ tax bill would spur economic growth.
He specifically cited surveys from the National Association of Manufacturers, an advocacy group, which he said showed “the vast majority of businesses are going to do just what we say: reinvest in their workers, reinvest in their factories, pay people more money, higher wages.”
Hosts: Cenk Uygur, John Iadarola
Cast: Cenk Uygur, John Iadarola
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Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. A young person who rebels against authority or societal expectations.(American Heritage Dictionary)
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