THE SENATE HAS TINKERED WITH THE ORIGINAL VERSION OF THE TAX
BILL AND NOW THERE ARE OFFICIALS SAYING THAT THE VERSION THEY
CURRENTLY HAVE WILL NAIL THE VOTES NECESSARY TO PASS THIS
VERSION --
>>ANOTHER SENATOR TO
KEEP IN MIND IS SUSAN COLLINS, BASED ON
THE REPORTING I'VE SEEN, SHE SEEMS LIKE SHE IS WAVERING, AND
THEY WILL TELL YOU WHY IN A MINUTE, BUT THEY HAVE MADE SOME
CONCESSIONS IN ORDER TO GET THESE SENATORS TO AGREE TO
VOTE IN FAVOR OF THE TAX BILL.
>>THEY WILL GET SUSAN COLLINS.
CAN I SAY AND NOW?
ALL THESE
REPUBLICANS THAT SAID THEY AREN'T SO SURE ABOUT THE TAX
CUTS, THEY WILL ALL ACTUALLY VOTE FOR GIANT TAX CUTS FOR THE
RICH.
OF COURSE!
OF COURSE THEY ARE, THAT'S THE WHOLE POINT OF
BEING A REPUBLICAN, GIVING TAX CUTS FOR THE RICH.
THERE WAS
NEVER ANY QUESTION.
PART OF ME UNDERSTANDS WHY THE MAINSTREAM
MEDIA HAS TO SAY, WELL, SUSAN COLLINS IS WAVERING, RON JOHNSON
SAYS HE CARES ABOUT SMALL BUSINESS -- BECAUSE IF YOU ARE
WORKING AT REUTERS YOU CAN'T SAY RON JOHNSON IS A LIAR, HE
DOESN'T CARE ABOUT SMALL BUSINESS, HE WILL VOTE FOR THIS
TAX CUT.
THAT IS MY JOB.
BUT I TOLD YOU FROM DAY ONE RON
JOHNSON DOESN'T CARE ABOUT SMALL BUSINESSES, IN THE END THEY
WILL ALL VOTE FOR THE TAX CUT, AND THEY ARE.
>>SOME
OF THEM DEMANDED THINGS THAT IT APPEARS THEY HAVE BEEN PROMISED.
>>TINY THINGS.
>>MITCH MCCONNELL SAYS --
>>KEEP IN MIND THAT THEY ARE REALLY IN A RUSH TO PASS THIS
THROUGH.
I HAD NO DOUBT THAT THERE WOULDN'T BE AS MUCH
DIFFICULTY WITH THE TAX BILL AS THERE WAS WITH THE REPEAL AND
REPLACEMENT OF THE AFFORDABLE CARE ACT, THIS IS SOMETHING
REPUBLICANS HAVE ALWAYS BEEN IN FAVOR OF, AND THEY DIDN'T HAVE
TO WORRY ABOUT DISAGREEMENT AS MUCH AS THEY DID WITH THE
AFFORDABLE CARE ACT.
NOW LET'S TALK ABOUT THE CONCESSIONS --
>>SO THESE SMALL BUSINESSES, AS YOU MENTIONED EARLIER, WILL BE
GETTING MORE OF A DEDUCTION UNDER THIS BILL.
>>IT IS ACTUALLY MORE TAX CUTS FOR THE RICH.
YES, SOME WILL GO
TO MOM-AND-POP STORES, AND SMALLER BUSINESSES, LIKE THE
YOUNG TURKS USED TO BE A PASS-THROUGH BUSINESS, WE WOULD
HAVE GOTTEN A BENEFIT OUT OF THAT IN THE OLD DAYS.
BUT IT
ALSO APPLIES TO REALLY LARGE BUSINESSES, LIKE DONALD TRUMP'S
BUSINESS.
>>REAL ESTATE BUSINESSES.
>>SOME OF THOSE ARE GIGANTIC, WORTH BILLIONS OF DOLLARS.
SO
THE CONCESSION THEY GOT FOR SMALL BUSINESS OWNERS WAS MORE
TAX CUTS FOR A LOT OF BILLIONAIRES AND MILLIONAIRES.
THAT IS NOT THE CONCESSION, THAT IS, I'M GOING TO TAKE MORE FROM
THE MIDDLE CLASS AND GIVEN TO RICH PEOPLE.
>>ONE THING YOU SHOULD KEEP IN MIND AS I GO THROUGH THESE
CONCESSIONS, THEY AREN'T CONCESSIONS TO HELP THE LITTLE
GUY, THEY ARE CONCESSIONS TO FURTHER HELP THOSE ALREADY
STANDING TO BENEFIT FROM THIS TAX BILL.
THIS IS THE SENATE
PLAN, THE SAME SENATE PLAN THAT ESSENTIALLY WILL TAX GRADUATE
STUDENTS IF THEIR TUITION WAS WAIVED BECAUSE THEY AGREED TO
WORK ON CAMPUS.
THEY WILL BE TAXED ON THEIR STIPEND, WHICH IS
A MEASLY AMOUNT OF MONEY THAT STUDENTS GET TO LIVE OFF OF, BUT
ON TOP OF THAT THEY WILL BE TAXED ON THEIR TUITION THAT HAS
BEEN WAIVED.
SO WHEN THEY FILE THEIR TAXES THEY WILL HAVE TO
DEAL WITH A GIGANTIC TAX BILL WHICH IS OUT OF CONTROL.
AND
THEY AREN'T TALKING ABOUT WE CAN'T DO THAT TO STUDENTS WHO
ARE ALREADY GRAPPLING WITH STUDENT LOAN DEBT THAT THEY
CAN'T GET RID OF IN BANKRUPTCY, WE ARE TALKING ABOUT CONCESSIONS
THAT HELP PEOPLE WHO ARE ALREADY AT AN ADVANTAGE.
>>YOU TALK ABOUT THIS A LOT ON THE SHOW.
EVERYBODY SHOULD, BUT
STUDENT LOAN DEBT HAS ALREADY SURPASSED CREDIT CARD DEBT, IT'S
A BIG ISSUE IN THIS COUNTRY.
I WAS GOING OVER SOME OF THE
THINGS THAT ARE NOT DISCUSSED DIRECTLY AS IT REFERS TO THIS
TAX CUT, OR THIS BILL, EXCEEDS ME -- IT WILL MAKE IT SO, LET'S
JUST SAY THE HOUSE VERSION MAKES IT SO 10% OF YOUR GROSS INCOME,
IF YOU SPEND MORE THAN 10% OF YOUR GROSS INCOME ON MEDICAL
EXPENSES, YOU CAN NO LONGER WRITE THAT OFF ON YOUR TAXES.
SO
THIS HURTS SICK PEOPLE.
ALSO IT TRIGGERS CUTS TO MEDICARE,
BECAUSE IT REQUIRES CUTS TO THE FEDERAL PROGRAM IF THE DEFICIT
INCREASES, AND IT'S BEEN PROJECTED THAT THE DEFICIT WILL
INCREASE.
>>LET ME JUMP IN FOR A SECOND, THAT'S THE ONE THING SUSAN
COLLINS PRETENDS TO CARE ABOUT.
SHE SAYS I DON'T WANT TO CUT
MEDICARE, BECAUSE I TOLD EVERYONE FOR YEARS THAT I
WOULDN'T.
BUT IT DOES CUT MEDICARE, SO WHAT ARE YOU GOING
TO DO ABOUT THAT, SUSAN COLLINS?
SHE IS STILL GOING TO VOTE YES,
BUT SHE SAYS IT'S OKAY, I GOT A PERSONAL COMMITMENT FROM MITCH
MCCONNELL THAT HE WOULDN'T LET THAT HAPPEN YEARS FROM NOW.
IS
THE PERSONAL COMMITMENT IN THE LAW?
IT'S NOT.
I WAS QUICK TO
SAY IT'S NOT WORTH THE PAPER IT IS WRITTEN ON BUT IT'S NOT
WRITTEN ON ANY PAPER.
>>THE SENATE BILL WOULD ALSO AND THE DEDUCTIBILITY OF STATE
AND LOCAL TAXES ENTIRELY, AND WE KNOW SEVEN STATES DON'T HAVE A
STATE INCOME TAX, ALASKA, FLORIDA, NEVADA, SOUTH DAKOTA,
TEXAS, WASHINGTON, AND WYOMING.
>>THOSE ARE ALREADY STATES.
>>EXCEPT FOR WASHINGTON, SIX OUT OF SEVEN ARE.
THE ONES WHO PAY
THE LARGEST STATE INCOME TAX ARE CALIFORNIA AND NEW YORK, IT IS
INCOME REDISTRIBUTION, BUT IT GOES FROM THE BLUE STATES THE
RED STATES.
AND WITH PASS-THROUGH INCOME, IT GOES TO
DONALD TRUMP AND HIS FAMILY.
THOSE ARE NOT CONCESSIONS.
THE
LAST THING ON CONCESSIONS FROM MY POINT OF VIEW IS THAT THESE
DIFFERENT CENTERS HAVE DIFFERENT DONORS.
SOME ARE THE SAME, THE
BANKS GIVE MONEY TO ALMOST ALL THE REPUBLICANS AND A LOT OF THE
DEMOCRATS, BUT SOME OF THEM HAVE SPECIFIC DONORS BASED ON THEIR
STATE.
THERE'S A PARTICULARLY RICH GUY IN WISCONSIN, THERE ARE
THREE RICH PEOPLE IN KANSAS, ETC., THAT GIVE A GIANT AMOUNT
TO THE SENATORS.
SO THEY GO, OKAY, THE TAX CUT I WANT IS
THIS.
THEN THEY HOLD UP THE BILL, THEY GO LOOK, I'M
CONCERNED ABOUT PEOPLE IN NURSING HOMES.
THEN THEY GET A
GIANT TAX CUT FOR A GUY WHO RUNS HOSPITALS IN THEIR OWN STATE,
WHO IS ACTUALLY A BILLIONAIRE.
SO ALMOST ALL THE CONCESSIONS
ARE FOR OTHER DONORS.
>>YOU ARE RIGHT, YES.
AND REMEMBER, THE SENATE -- LOOK, IN
ORDER TO PAY FOR ALL THESE MASSIVE TAX CUTS FOR THE
WEALTHY, THEY ALSO THINK ABOUT GETTING RID OF CERTAIN
DEDUCTIONS THAT, YES, THE WEALTHY TAKE ADVANTAGE OF, BUT
THE MIDDLE CLASS ALSO TAKES ADVANTAGE OF.
THEY ARE ALSO
THINKING OF DOING AWAY WITH PROPERTY TAX DEDUCTIONS, AGAIN,
SOMETHING THAT HELPS INCENTIVIZE PROPERTY OWNERSHIP BY THE MIDDLE
CLASS.
SUSAN COLLINS CLAIMS SHE IS CONCERNED ABOUT THAT, BUT IT
DOES NOT SEEM LIKE SHE REALLY HAS A STRONG OR FIRM OPINION ON
IT.
FIRST LET'S GO TO JEFF FLAKE, BECAUSE YOU MENTIONED THE
DEFICIT, FLAKE SAYS HE'S VERY CONCERNED ABOUT WHAT THIS PLAN
WOULD DO TO THE DEFICIT --
>>SO HE IS SAYING WE NEED TO DO SOMETHING TO PROTECT THESE
INDIVIDUALS, I REALLY CARE ABOUT THEM, AND HE IS SAYING OKAY, NOW
I'M GETTING ASSURANCES AND I HAVE FLIPPED IN SUPPORT OF THIS
BILL.
>>NONE OF THE ASSURANCES AS FAR AS I CAN SEE ARE ACTUALLY IN THE
LEGISLATION.
MAYBE THEY WILL DO SOMETHING ABOUT DACA LATER, I
DON'T SEE IT.
THEY ARE SHUTTING DOWN THE ENTIRE GOVERNMENT
BECAUSE OF DACA.
THEY CERTAINLY DIDN'T ADDRESS IT IN THIS BILL.
SO IT'S A LOT OF B.S.
FROM REPUBLICANS WHO JUST WANT TO
VOTE YES ON TAX CUTS FOR THEIR DONORS, ABOUT I GOT ASSURANCES
THAT MANY YEARS LATER SOMEONE WILL DO SOMETHING.
JEFF FLAKE,
YOU ARE RETIRING, WHEN ARE WE GOING TO DO IT ANYTHING ABOUT
THIS THAT IS RELEVANT TO YOU?
>>ALSO WHEN YOU TALK ABOUT ASSURANCES, WHAT DOES THAT MEAN?
MCCONNELL PROMISED SOMETHING WILL BE DONE DOWN THE ROAD, AND
POLITICIANS ARE KNOWN TO KEEP THEIR WORD.
>>GOING BACK TO SUSAN COLLINS, SHE ANNOUNCED SHE WOULD VOTE
YES, THIS IS ONE OF THE REPORTS --
>>THAT IS PART OF HER SALT CONCERNS, WE WILL SEE HOW THAT
PLAYS OUT, BUT I'M CONCERNED BECAUSE AGAIN, THERE SEEMS TO BE
-- IN THE WORDING OF THIS LEGISLATION THERE SEEMS TO BE AN
EFFORT TO PUNISH LIBERAL STATES, AND I SAW SOME REPORTING AND
REGARD TO DISASTER RELIEF FUNDING, AND HOW THAT RELIEF
FUNDING WOULD SPECIFICALLY FOCUS ON HURRICANES AND STORMS AND
FLOODING, AND EXCLUDE, OR AT LEAST CUT, FUNDING FOR
EARTHQUAKES.
I MEAN -- THESE TYPES OF THINGS MATTER, BECAUSE
THERE SEEMS TO BE THIS CONCERTED EFFORT BY SOME IN CONGRESS, IN
THE SENATE SPECIFICALLY, TO SOMEHOW PUNISH SOME OF THE
STATES THAT TEND TO BE BLUE STATES.
>>CAN I JUST SAY, IF WE DID LIKEWISE, IF A LIBERAL PRESIDENT
AND A LIBERAL CONGRESS PURPOSELY TARGETED ALABAMA AND TEXAS AND
SAID IF THERE IS FLOODING AND TEXAS WE JUST ARE GOING TO COVER
IT, BUT IF THERE IS AN EARTHQUAKE IN CALIFORNIA WE WILL
SEND A LOT OF MONEY, AND BY THE WAY, REDO THE RULES SO
CALIFORNIA PAYS LESS MONEY AND TAXES AND TEXAS PAYS MORE, THERE
WILL BE HOLY HELL TO PAY.
THEY WOULD SAY HOW DARE YOU, THESE
ARE THE REAL AMERICANS, MIDDLE AMERICA, SEE, THE LIBERALS HATE
THEM.
WHY IS IT OKAY FOR CONSERVATIVES TO HATE PEOPLE WHO
LIVE IN BLUE STATE AMERICA AND PUNISH US AND REDISTRIBUTE OUR
WEALTH?
IT'S NOT THAT THEY MIND THE REDISTRIBUTION OF WEALTH,
THEY JUST DON'T LIKE IT WHEN IT IS THE MIDDLE CLASS.
THEY LIKE
IT WHEN IT IS REDISTRIBUTING
DOLLARS TO THEIR DONORS.