NOT BAD.
>>> CONGRESSWOMAN ALEXANDRIA
OCASIO-CORTEZ PROPOSING A NEW
GREEN AGENDA AND SHE WANTS VERY
RICH PEOPLE TO PAY A 70% TAX
RATE TO PAY FOR IT.
GROVER NORQUIST, WHO WROTE AN
OP-ED, TITLED, OCASIO-CORTEZ'S
70% INCOME TAX RATE IS AN
OPENING SHOT IN RENEWED WAR
AGAINST TAXPAYERS.
GROVER IS THE AMERICANS FOR TAX
REFORM PRESIDENT.
ARE YOU BASICALLY SAYING, NOT
JUST THE SUPER-RICH GET A TAX
INCREASE, IT IS EVERYBODY, IS
THAT WHAT YOU'RE SAYING?
>> ABSOLUTELY.
COUPLE INNINGS.
CORTEZ IS TALKING ABOUT ONE TAX
INCREASE, GIVING US TOP RATE
70%, WHICH WOULD BE HIGHEST IN
THE WORLD.
HIGHER THAN COMMUNIST CHINA.
HIGHER THAN EVERYBODY ELSE.
THERE IS NOBODY IN EUROPE WITH A
70% INDIVIDUAL RATE.
SO, HER PROPOSAL IS TO TAKE US
TO THE HIGHEST IN THE WORLD ON
THAT TAX.
YARMOUTH, THE 71-YEAR-OLD
DEMOCRAT FROM KENTUCKY,
SUPPOSEDLY GROWN-UP IN THE ROOM,
CALLED FOR TAKING THE CORPORATE
RATE FROM 21 TO 28, UP BY A
THIRD TO 28, HIGHER THAN CHINA.
HIGHER THAN BRITAIN, HIGHER THAN
CANADA.
HIGHER THAN GERMANY.
TO MAKE US UNCOMPETITIVE IN THE
WORLD.
AND ADD TO THAT, ALL OF THE
DEMOCRATS AND DEMOCRATIC PARTY
ENDORSED THE TRILLION DOLLAR TAX
ON CARBON DIOXIDE, THE CARBON
DIOXIDE TAX, THEY WANT TO USE TO
FUND STUFF ON GREEN THINGS.
SO, THESE, AND THAT IS TAX ON
MIDDLE INCOME PEOPLE.
RICH PEOPLE USE AS MUCH HEATING
OIL AS YOU AND I DO, DRIVE CARS
AS MUCH AS I OR YOU I DO.
THIS HITS MIDDLE INCOME PEOPLE,
LOWER INCOME PEOPLE,
DRAMATICALLY AS HAPPENED IN
FRANCE.
SO THIS IS A THREE-HEADED BEAST
WE'RE LOOKING AT.
HIGHER INDIVIDUAL RATES, HIGHER
CORPORATE RATES, GAS TAXES,
ENERGY TAXES.
STUART: I DON'T SEE HOW YOU CAN
FIGHT IT ALL OFF.
GRANTED THERE IS NOT GOING TO BE
A 70% TAX RATE ON SUPER-RICH.
THERE WILL NOT BE A HUGE NEW TAX
ON BUSINESSES.
I GOT IT.
BUT THEY WILL GET SOMETHING.
THEY RUN THE HOUSE.
THEY RUN THE IMPORTANT
COMMITTEES IN THE HOUSE.
THE DEMOCRATS UNIVERSALLY WANT
TAXES TO GO UP.
YOU CAN'T FIGHT EVERYTHING.
THEY'RE GOING TO GET SOMETHING,
AREN'T THEY?
>> WELL THE DEMOCRATS WANTED A
TAX INCREASE FOR THE LAST SIX
YEARS OF OBAMA AND THEY DIDN'T
GET ANYTHING.
THEY ONLY GOT TAX INCREASES WHEN
THEY HAD THE HOUSE, SENATE AND
PRESIDENCY.
THE ONLY TIME TAXES HAVE BEEN
RAISED IN THE UNITED STATES
SINCE BUSH LEFT OFFICE, GEORGE
HERBERT WALKER BUSH, BACK IN 90,
HE RAISED TAXES AFTER PROMISING
NOT TO, SINCE THEN, THEY HAVE
NEVER PASSED A TAX INCREASE
UNLESS THE DEMOCRATS HAD THE
PRESIDENCY, HOUSE, SENATE.
FIRST TWO YEARS OF CLINTON.
LOST THE HOUSE AND SENATE.
FIRST TWO YEARS OF OBAMA, LOST
THE HOUSE.
STUART: BUT LOOK, ONLY, I THINK
IT IS LESS THAN, IT IS HALF THE
POPULATION, HALF OF INCOME
EARNERS PAY ANY FEDERAL INCOME
TAX AT ALL.
HALF OF THE TO POPULATION PAYS
NONE.
WHY SHOULDN'T THAT HALF THE
POPULATION HEY, WAIT A MINUTE WE
WANT IMPROVEMENTS IN OUR HEALTH
CARE, IMPROVEMENTS IN THE
EDUCATION, LET'S HAVE THE OTHER
HALF, THE RICH, HAVE THEM PAY
FOR IT?
WE'RE AT THAT TIPPING POINT,
AREN'T WE?
I KNOW WE'VE BEEN THERE BEFORE.
WE'RE RIGHT BACK AT THE A
TIPPING POINT WHERE A TAX
INCREASE ON THE RICH MAY BE MORE
POPULAR YOU WOULD LIKE?
>> YOU WOULD THINK THAT WOULD BE
MORE TRUE HOWEVER, PEOPLE WHO
DON'T PAY FEDERAL INCOME TAXES
PAY PROPERTY TAXES AND SALES
TAXES AND ENERGY TAXES AND
GASOLINE TAXES AND ALL OF THE
PURITANS WHO LIKE CIGARETTE,
LIQUOR TAXES PARTICULARLY HIT
LOWER AND MIDDLE INCOME PEOPLE,
MIDDLE INCOME PEOPLE, LOWER
INCOME PEOPLE ARE BATTERED BY
PROPERTY TAXES AND ALL THESE
OTHER DO-GOODER TAXES THAT
BLOOMBERG AND OTHER GUYS LIKE TO
PUT ON POOR PEOPLE.
SO THEY FEEL OVERTAXED.
YOU MAY GO, BUT NOT DOING THE
INCOME TAX YET.
THEY STILL FEEL HIT.
SO THAT IS ONE OF THE THINGS
THAT HELPS US FIGHT TAXES IN
GENERAL.
LOWER INCOME PEOPLE ARE NOT
EXCITED ABOUT RAISING TAXES
BECAUSE THEY THINK IF YOU RAISE
TAXES ON THE BLOOMBERG
BILLIONAIRES OF THE WORLD, YOU
KNOW WHAT?