Jay Weber Show transcript 1-23-23 8:10am
Here’s something that the accomplice media will never admit, much less publicize: the Trump/Ryan tax cuts worked exactly as expected- and let to more economic activity and more overall revenue into the treasury.
The GOP’s tax cuts were based on a simple premise that- pre-1970- democrats used to admit to: in fact, JFK was the last democrat president to implement a tax cut under the undeniable truth that-if you allow people to keep more of the money they earn-they will invest it or spend it in ways that will actually-increase-the amount of money pouring into the treasury...instead of decreasing it.
Today’s democrats-especially the true economic idiots like Bernie and AOC- they see this as a straight forward proposition: if we take a higher percentage of people’s incomes in taxes- it will mean government is collecting a bigger pot of money.
Except it doesn’t.
Because- in America here- we tax money-when it moves. If it’s just sitting in investments, and growing, it’s not moving...and it isn’t being taxed.
Likewise-if you are taking 30 percent of everyone’s paycheck ...you aren’t leaving them with much money to ‘move around’. Spend on things. Invest in different companies. Expand their businesses. Hire new workers who are, then, earning an income to be taxed, buy that boat. Renovate that house.
If you take a large chunk of their paycheck before they even, see it- they have less money to ‘move around’ and be taxed ‘post-paycheck’. Get it?
And the Trump/Ryan tax cuts worked on this longstanding, proven, principal: if you let people keep more of the money they earn-they’ll spend it, invest it, move it around, expand, hire people, and you can tax it then all sorts of different ways, as it moves...resulting in even more money pouring into the treasury.
The democrats also-still-moan and whine about how the Trump/Ryan tax cuts were a ‘giveaway to the rich’...even though the top ten percent of wage earners in this country were blocked from getting any tax relief out of it: trump’s tax cuts, instead, cut taxes to the other 90 percent of u-s taxpayers...
And no-if you weren’t paying federal income taxes, you didn’t get a tax cut. Why should you?
The Trump/Ryan tax cuts didn’t increase the IRS welfare schemes that the dems pretend are tax cuts-no-
But they provided 90 percent of the people who-do-pay federal income taxes a tax break...and dropped the corporate tax rate from 34 or 35 percent. Down to 25 percent, or so, to make us more globally competitive.
And five years later-there is zero doubt that the Trump/Ryan tax cuts worked as expected.
We have seen tax revenue pouring into the treasury increased by forty percent. Forty!
That’s a massive increase in cash flow that the fed govt can use to pay its bills. And it’s the result of the ‘rate’ of taxation going down, which sparked all sorts of money to move...and be taxed more frequently.
Yes. Even with the big hit to the economy that covid represented, tax revenue is up 40 percent over five years.
And i think some of you remember the ‘hair on fire’ predictions that Bernie, and squats, and Pelosi...and the dems were making related to these tax cuts.
Bernie and Liz warren were running around insisting that they would lead to a one trillion-dollar loss of revenue and destroy our federal budget.
Instead, they lead to a 1.5-trillion dollar -increase-in revenue and are helping to pay our federal bills.
And look- the trump-era covid spending and the six trillion dollars in idiotic, unnecessary, inflationary spending that the democrats have done over the last two years, under Biden, mean that we still have a massive budget deficit...but it’s not because our tax revenues fell.
The Trump/Ryan tax cuts led to hundreds of billions of dollars -more- collected each year, or the unpaid bill that Biden and the democrats have left us over the last two years would be even worse.
But-the Trump/Ryan tax cuts worked-precisely-as expected: we got higher growth and higher tax payments with lower tax -rates. Because more money moved.
And so-called ‘Reaganomics’ is proven to work, yet again.
This really dates to JFK’s tax cuts of 1960s, which also worked as Kennedy predicted, but Reagan used this too much greater effect in the 1980s...and the democrats have called it ‘Reaganomics’ or ‘trickle down’ economics, ever since. They blindly malign it, and stick to idiotic talking points because they’d rather play class warfare than help run the country...
But...it works and five years later, we can say it worked again-brilliantly- in the Trump years.
Democrats will, no doubt, try to blame their own insane levels of new debt-on the Trump/Ryan tax cuts, as a CYA move, in 2024.
But that’ll be like the housewife blaming the husband because his raises cannot keep up with her level of spending.
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