Republican FINALLY Admits That Tax Cuts Were A Complete Failure

Republican Representative Kevin Brady admitted in an interview this week that the tax cut package that he co-authored probably isn’t going to pay for itself, which means that the signature talking point used to sell the bill was a complete lie, and the bill was a complete failure. But he still claims that the cuts were a “good investment,” even though average Americans are actually paying MORE in taxes. Ring of Fire’s Farron Cousins discusses this.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Republican Representative Kevin Brady from the state of Texas, who's one of the lead architects of the 2017 Republican tax cut bill. And this week at a, a little presentation, a gathering at the Peterson Foundation, their annual summit here. Uh, Mr. Brady admitted to the crowd that, hey, these tax cuts probably aren't going to pay for themselves. I mean, maybe we'll know. And like eight, nine, or even 10 years down the road if they've provided any benefit to the economy. So, you know, I know we said this was gonna pay for itself, but yeah, it's not looking like it's going to do that. So in essence, representative Brady here just admitted that his Republican tax bill that he authored was a complete failure.

It was supposed to pay for itself and Oh, it's not gonna do that. Now here's the thing. Every single economist and every single person who remembers anything from American history knew that these weren't going to pay themselves. They weren't gonna help the middle class in any way. It was just going to give a bunch of money to already rich people and they were just going to sit on it and do absolutely nothing. And that is what's actually happened. What we didn't expect to happen was it taxes on the middle class. We're actually gonna go up, but they did. So we're getting more screwed than ever. Wealthy people actually have so much money now that according to recent reports, they don't even know what to do with it cause they're just swimming in cash. And Kevin Brady finally has the guts to come out and say it didn't do what we said it would. Who?

And here's the kicker though. He also said shortly after that I either, it was a good investment though. I think it was good for a, maybe not good for the economy, but yeah, it was a good thing. Cause that's the thing with Republicans. They understood, they knew, they knew just like you and I know. That the middle-class is never going to get helped from a tax cut for the 1% every single time it's been tried. It's been an absolute failure. Stockman, the guy who actually invented trickle down economics came out a few years ago and said, yeah, the whole thing doesn't work. It's impossible. It cannot work in practice. It doesn't. And yet Republicans knowing this information, knowing it doesn't work, they're going to continue to do this because it benefits them personally. And the people who fund their campaigns, so they're not going to stop. No matter how much evidence is out there telling us it's bad telling us it doesn't help anybody but the elite Republicans, we'll still do it and they'll still come out and lie to us. And now, even though he's admitting that it's not going to pay for itself, you know what is going to have to pay for that cuts to social safety net programs.

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