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