With Debt Ceiling Fight Over Republicans Introduce New Tax Cuts For Wealthiest Americans - RoF

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Republicans in Congress have introduced legislation that would do the only non-culture war thing that Republicans know how to do - Cut taxes for the wealthiest Americans. They are once again proposing a reduction in the amount of money that the wealthiest people have to pay in taxes as both a handout to their corporate masters and to save a little money themselves, since most of them are also millionaires. Ring of Fire's Farron Cousins discusses this absolutely disgusting move.

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

Only one week after they finally got the whole debt ceiling debacle, finalized and situated for at least the next two-ish years. Republicans, this past Friday, put forward legislation to do the only thing that Republicans know how to do. And if you've watched me long enough, you know exactly what I'm talking about without me having to say it. But in case you're new to the channel, in which case, welcome, we appreciate it. The only thing Republicans know how to do is cut taxes, and you'd better believe they put forward a tax package this past Friday that would add $21 billion to the national deficit over the next decade. Even though they just spent the last few months telling us, we've gotta control the deficit, we've gotta get it down, we gotta stop the spending. A week later, they put forth their legislation that we'd been warning you was coming, that would add $21 billion to the deficit so that they can give tax breaks to the wealthiest.

And of course, to corporations. The tax cuts would include, uh, uh, corporate tax breaks related to spending on interest equipment and research. It would also undo tax credits for buying fully electric vehicles in order to pay for the tax breaks for the wealthiest Americans. So you will no longer be able to get your tax incentives, your tax write-offs and all that for buying a fully electric vehicle. So Republican savior, Elon Musk is actually going to see a reduction in his sales because of that, by the way. But they want to take that money and they want to give it back to the wealthy elite who don't need it. But, you know, we gotta take care of, uh, our, our, our donors, right? That's, that's the whole Republican thing. But here's the other part of the story that a lot of people always forget about. This isn't just about protecting their donors.

It's not just about protecting the industries that are flood, uh, flooding them with cash during every campaign. Most of these people in Congress, a majority of them actually, both parties are already millionaires. A majority of them are millionaires. So when they pass tax cuts like this, they actually get the tax cuts as well. So it's not just about giving money back to their donors, it's about putting money back in their own pockets because they get these benefits too. The rest of us, we get screwed. We get absolutely put through the ringer by these idiots. The only good part is after the 2016, uh, tax, uh, 2017, excuse me, tax cuts that Republicans put forward when they promised every American you're gonna watch your paycheck go up. They made a big deal of that. And once Americans actually realized, wait a minute, my paycheck's not going up. Actually, Pliny actually saw their paychecks go down. Americans finally turned against this whole idea of trickle down economics, including a majority of Republicans.

Now, a majority of voters in this country say that wealthy and corporations do not pay their fair share taxes and that they should be taxed more. Again, that's including a majority of Republicans who say that the trickle down myth has been busted repeatedly, and even Republicans have opened their eyes to that. So if these Republicans in the House of Representatives think that putting forth tax cuts after whining about spending for the last six months is a smart idea, I say, go for it. Absolutely. You should do that. And then the Democrats should spend every single day from that point till next election reminding the public of what these selfish

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1. Shocking.

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2. I'm sure president Biden has pen in hand just waiting to sign it!