Congressman Decries Voodoo Economics While Pushing For... Voodoo Economics

SO, I OFTEN ASK THE PRESS TO HOLD PEOPLE ACCOUNTABLE,
ESPECIALLY IF THEY ARE ON THERE AND I THINK MSNBC CHRIS
JANSSEN DID THAT IN THIS CASE.
SHE HAD PRESENTED FRANCIS ROONEY ON WHO IS A REPUBLICAN FROM
FLORIDA AND SHE ASKED ABOUT THE HEALTHCARE PROPOSAL.
I'M GOING TO GIVE NUMBERS OF THE END OF THESE CLIPS THAT SHE
COULDN'T HAVE HAD ACCESS TO ON THE SPOT THERE.
I HOPE THAT THEY DO A FOLLOW-UP SEGMENT LIKE THIS BUT I WANT
TO SHOW YOU WHAT THE CONGRESSMAN SAID AND WHAT THE REALITY IS.
LET'S WATCH THE
YOU HAVE ANY CONCERNS ABOUT PREMIUMS GOING UP?
I THINK IF WE CAN BRING CHOICE, SELECTION, AND COMPETITION
BACK INTO THE NON-GROUP POLICY MARKET THROUGH THIS TAX CREDITS
AND THE PREMIUMS WILL GO DOWN INTO DOUBLES WILL GO DOWN TO
YOU SAY YOU THINK IT WILL, BUT WHAT IS THE CONFIDENCE
LEVEL BECAUSE THERE IS A SLEW OF ANALYSES AND YOU KNOW THAT
THERE OTHER THAT SUGGEST THE EXACT OPPOSITE OF WHAT YOU
ARE SAYING AND IN FACT, THOSE WHO WOULD BE HURT THE MOST ARE
THOSE WHO WOULD IN FACT BE THOSE WHO HAVE THE MOST DIFFICULTY,
THE POOR, THE ELDERLY, THE PEOPLE MOST IN NEED.
IF THE CBO SCORE COMES OUT ON THE SENATE BILL AND SUGGEST
THE SAME THING, THAT THE CBO SCORE ON THE HOUSE BILL
SHOWED WHICH IS THAT MILLIONS OF AMERICANS WOULD LOSE THEIR
HEALTH CARE UNDER THIS BILL, YOU STILL WOULD SUPPORT A?
ABSOLUTELY I WOULD REMEMBER, THAT THE VOODOO ECONOMICS
OF THE CBO SCORE WAS FAULTY THE FIRST TIME AROUND IN THE
WALL STREET JOURNAL COVER THAT VERY WELL.
IT ASSUMES THAT NOBODY WILL BUY INSURANCE UNLESS THEY ARE
MANDATED TO BUY A STATIST SYSTEM LIKE OBAMA CARE.
DOESN'T GIVE ANY CREDIT FOR BEHAVIORAL MODIFICATION AND
INCENTIVE THROUGH THE TAX CREDITS.
YEAH, IT TURNS OUT OF COURSE AT THE CBO SCORE CAME AFTER
THE SENATE BILL AND 22
MILLION PEOPLE ARE GOING TO LOSE THEIR INSURANCE.
HE IS LIKELY GOING TO GIVE THEM INCENTIVE THROUGH TAX CUTS.
WAIT A MINUTE, THEY DON'T HAVE THAT MUCH MONEY TO GET TAXED IN
THE FIRST PLACE, AND YOU ARE CUTTING MEDICAID BY $800
BILLION.
IF THEY WERE RELYING ON MEDICAID'S GET THE HEALTH
INSURANCE IN THE FIRST PLACE, THEY CAN'T BUY IT.
THEY DON'T HAVE ENOUGH MONEY.
ALMOST ALL OF YOUR TAX CUTS ARE GOING TO THE VERY TOP.
I WILL GIVE YOU SOME NUMBERS ON THAT RIGHT NOW.
TAX INCENTIVES.
TO WHO?
THE TOP 1%.
THE TOP 1% UNDER TRUMP CARE WOULD GET A TAX BREAK OF
$45,000 PER YEAR.
YES, THEY WILL HAVE TERRY PLENTY OF INCENTIVE TO BUY A PLANE
ANY INSURANCE THEY WANT THEY THINK THAT IS A BIG NUMBER?
TAX BREAKS FOR THE TOP .1% UNDER TRUMP CARE IS 250,000 PER YEAR.
IF YOU ARE IN THE TOP .1%,
CONGRATULATIONSÖ TRUMP AND ALL OF THE REPUBLICANS JUST
GAVE YOU A $250,000 PER YEAR GIFT ON AVERAGE.
DON'T TELL ME ABOUT TAX INCENTIVES AND HOW THEY'RE
GOING TO HELP PEOPLE BUY INSURANCE.
THOSE FOLKS ALREADY HAD INSURANCE, ALMOST ALL THE
TAX COULD GO TO THE VERY RICH, BUT IT IS OKAY.
BECAUSE SHE IS GOING TO ASK ABOUT THAT AND ROONEY HAS
WHAT I VIEW TO BE A HILARIOUS ANSWER.
IS VERY STANDARD ANSWER FOR THE REPUBLICANS, BUT I WILL
SHOW YOU WHY IT IS IN FACT, COLE.
LET'S WATCH THE
LET ME CITE THE CENTER ON BUDGET AND POLICY
PRIORITIES WHICH SAYS THIS IS BASICALLY A PROGRAM, A BILL
THAT MAKE SURE THAT THE WEALTHY GETS TAX CUTS.
THAT'S OKAY WITH YOU AS PEOPLE ARE LOSING THEIR COVERAGE?
SEE, I HAPPEN TO THINK THAT TAX CUTS TO STIMULATE
INVESTMENTS, WHICH IS WHAT THIS TAX CUT IS.
OBAMA PUT IN A TAX ON INVESTMENTS.
CUTTING US TAXES ARE VERY IMPORTANT TO STIMULATING
SIMULATING INVESTMENT AND JOB CREATION.
SOMETIMES THESE PEOPLE DON'T SEEM TO UNDERSTAND HOW
CAPITALISM WORKS.
WHEN YOU INCENTIVIZE INVESTMENT, PEOPLE TO PLAY CAPITAL,
CREATE JOBS, BUILD COMPANIES, AND PUT MORE PEOPLE TO WORK SO
THEY CAN AFFORD ALL THESE THINGS AND I HAVE TO BE ON MEDICAID.
I LOVE THAT CONDENSATION.
SOME PEOPLE DON'T UNDERSTAND HOW Realism WORKS.
YOU GAVE ALL OF THE MONEY TO THE RICH AND IN A TRICKLE DOWN
ON YOU, MAYBE.
I HAVE A DIFFERENT IDEA.
WHY DO WE JUST LET PEOPLE HAVE THE MONEY IN THE FIRST PLACE AND
THEN THEY DON'T HAVE TO WAIT FOR THE RICH TO DECIDE THEY'RE
GOING TO ALLOW IT TO TRICKLE DOWN ON THE MIDDLE CLASS.
NOW, I HAVE THE FACTS ON MY SIDE TO SHOW YOU.
THESE ARE THE SAME INSIDE ARGUMENTS THAT THE
REPUBLICANS USE UNDER GEORGE W.
BUSH.
THEY SAID WE NEED MASSIVE TAX CUTS FOR THE RICH AND SO
THEY GOT IT.
THE TAX CUTS PUT AT $2.1 TRILLION HOLE IN THE DEFICIT
UNDER GEORGE W. BUSH FROM 2001 AND THOSE TAX CUTS CONTINUED
UNTIL 2010
UNDER OBAMA WHEN OBAMA CHANGED THE TAX REGULATIONS.
AND THAT'S IN YOUR PERIOD, THOSE TAX CUTS, THE GREAT
MAJORITY GOING TO THE RICH AND CORPORATIONS, $2.1 TRILLION.
THE ECONOMY MUST'VE BOOMED BECAUSE HE JUST TOLD YOU,
YOU UNDERSTAND ALL CAPITAL IS A WORKS.
WE GET TRILLIONS OF DOLLARS THE RICH AND THE NEW GASKET A
LOT OF JOBS.
OBVIOUSLY, UNEMPLOYMENT WENT WAY DOWN UNDER BUSH, RIGHT?
LET'S TAKE A LOOK.
HERE'S THE CHART OF UNEMPLOYMENT.
WAIT A MINUTE, IT GOES SKYROCKETING UP AT THE END
OF BUSH'S TERM.
AFTER EIGHT YEARS, WE DIDN'T HAVE UNEMPLOYMENT GOING
DOWN, WE HAD A GOING UP.
WAY UP.
YOU CONTINUE THAT CHART, AND IT CONTINUED TO GO UP DURING
THE GREAT RECESSION INTO OBAMA'S FIRST TERM AND THEN OBAMA
TURNS IT AROUND.
YOU'RE GOING TO SAY, WILL CENK UYGUR, THERE WAS A GIANT
FINANCIAL CRASH AT THE END OF 2007, 2008.
YEAH, EXACTLY.
THE RISK ALL THE MONEY AND WHAT DO THEY DO?
THEY GAMBLED WITH IT, THE BANKS GAMBLED INTO CRAZY RISKS.
THEY CRASHED TO THE ECONOMY.
DID HELP THE ECONOMY REQUESTED TO CREATE MORE JOBS?
NO, IT DIDN'T DIE NEVERÖ BY THE WAY, I WITH THE WAY IT DOESN'T.
IF YOU DO AN EARNED INCOME TAX CREDIT WHICH GOES TO THE MIDDLE
CLASS AND THE WORKING POOR, THEY WERE, THEY GET A TAX CREDIT.
THAT IS AN INTERESTING CONCEPT.
THAT IS A DIFFERENT THAN THE TAX CUTS FOR THE RICH.
THEY MEDIALLY SPEND THE MONEY.
MEDICARE MEDICAID, YOU NEEDED THAT YOU IMMEDIATELY SPEND
ON HEALTHCARE.
YOU HELP WITH FOOD STAMPS FOR THE WORKING POOR.
THEY IMMEDIATELY SPEND THE MONEY THAT YOU KNOW WHY?
THEY NEEDED.
CIRCULATES THE MONEY.
THEY NEED FOOD, THEY NEED BOOKS FOR THE KIDS, ETC.
THEY NEED CLOSE.
THEY IMMEDIATELY PUT IT BACK INTO THE ECONOMY AND THE
MONEY CIRCULATES.
IT IS THE EXACT OPPOSITE OF TRICKLE-DOWN ECONOMICS AND
IT ACTUALLY IMPROVES THE ECONOMY GREATLY.
THAT IS WHY AT HER HIGH IN THE 1950S AND 60S
AS OUR ECONOMY WAS BOOMING AND INTO THE 1970S,
WE HAD TAX RATES FOR THE VERY TOP MARGINAL RATE.
THIS IS NOT WHAT THEY ALL PAID, THIS IS IF YOU GOT PASSED $1
MILLION, $10 MILLION DEPENDING ON HOW YOU CALCULATED INFLATION,
FOR ANY DOLLAR ABOVE THAT AMOUNT YOU WOULD TAKE 70 TO 91% TAXES
BUT THE ECONOMY BOOMED BECAUSE ANY BUILT SCHOOLS, BRIDGES, AND
THE MONEY CIRCULATED WHEN PEOPLE GOT IT IN THE MIDDLE CLASS.
WHEN THE RICH GET IT THEY PUT INTO THEIR BANK ACCOUNT
SOMETIMES THEY GAMBLE WITH THAT ACCOUNT ACROSS THE ECONOMY.
THEY DON'T RECIRCULATE INTO THE ECONOMY.
YOU CAN'T TAKE TRILLIONS OF DOLLARS IN TAX CUTS AND BY
THAT MANY YACHTS WITH IT.
MORE FACTS.
AS OF 2013, THE TAX POLICY CENTER FOUND THAT UNDER
OBAMA, THE TOP 1% OF EARNERS PAID AN EFFECTIVE FEDERAL
TAX RATE OF ROUGHLY 32% COMPARED TO ABOUT 27% UNDER BUSH.
I DON'T THINK THAT IS NEARLY ENOUGH, BUT CLEARLY IN THAT
CASE, OBAMA RAISE TAXES.
HE ALSO DID THE OBAMA CARE, THERE WAS A SMALL INCREASE
IN THERE AND THAT IS WHAT ROONEY IS FIGHTING AGAINST OUT
THERE SAYING NO, WE HAVE TO GET ALL THAT MONEY BACK TO THE RICH.
TAX CUTS, TAX INCREASES WILL GREATLY DAMAGE THE ECONOMY.
YOU WILL BE ABLE TO ADD JOBS.
REALLY?
WITH GO TO THE FACTS ON THAT.
JOBS CREATED UNDER TORCH TO BE BUSH, SOME JOBS CREATED IN
AN UNEMPLOYMENT SHUT UP WE LOST A LOT OF JOBS AFTER A
YEARS, WE ONLY CREATED ABOUT 1 MILLION JOBS.
THAT IS A MISERABLE RECORD.
UNDER BARACK OBAMA, EIGHT YEARS, WE CREATED 15 MILLION JOBS.
WHAT HAPPENED TO TAX INCREASES HURT THE ECONOMY AND COST YOU
JOBS AND TAX CUTS ARE WONDERFUL FOR THE ECONOMY AND CREATE JOBS?
IT IS JUST NOT TRUE.
THEY KEEP REPEATING THAT IS A TALKING POINT NOT BECAUSE
THEY CARE ABOUT THE ECONOMY OR GETTING YOU JOBS, IT IS BECAUSE
THEY WORK FOR THE SAME RICH DONORS WHO GET THOSE TAX CUTS.
THEY HAVE NO INTENTION OF HAVING IT TRICKLE-DOWN ON YOU
EXCEPT IN A TERRIBLE WAYS.
THEY HAVE AN INTENTION OF KEEPING THE MONEY.
THAT IS WHY THEY BOUGHT PEOPLE LIKE ROONEY TO MAKE THOSE
NONSENSE TALKING POINTS.
NOW, AS THEY CUT YOUR HEALTHCARE AND 22
MAIN PEOPLE ONE OF HEALTHCARE AND SOME ANYMORE PEOPLE
WILL HAVE A COST MUCH MORE MONEY, ESPECIALLY IF YOU
ARE SICK OR HAVE A PRE-EXISTING CONDITION OR YOU WERE ELDERLY.
YOU WILL GET LESS COVERAGE FOR IT AND ALL OF THAT, SO THAT
THE RICH CAN GET MORE TAX CUTS AND PRETEND THAT IT WILL US
SOME LATER POINT HELP YOU DIE YOU KNOW WOULD HELP ME NOW?
HEALTH INSURANCE.

Congressman Decries Voodoo Economics While Pushing For... Voodoo Economics

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