Republicans Already Sabotaging Themselves With Tax Cut Battle

Republicans know that one of the first legislative orders of business in the New Year will be extending the Trump tax cut package from 2017. But they have a serious problem with doing so – the deficit that they keep telling us is out of control. Extending the cuts would add trillions to the deficit and they would risk the anger of voters by extending them. But if they don’t, then they will be going against Donald Trump and one of his signature policies. Ring of Fire’s Farron Cousins explains the conundrum that Republicans now face.


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

Donald Trump's top two priorities for when he gets back into office are the massive deportations and of course tariffs for everybody. But he also has a third agenda item that, of course is getting routinely overlooked. And that of course is to make sure that the 2017 tax cuts get extended tax cuts are ex uh, uh, uh, scheduled to expire in about a year. So they gotta get to work, Congress and the President getting those tax cuts. 'cause God forbid the wealthy elite have to pay extra taxes for a couple months while they sort this mess out. But therein lies the problem because Republicans, who of course will have a very slim majority in the house and a slim majority in the Senate, know that expanding those tax cuts that were hugely unpopular once they were actually enacted and even Republicans realized they weren't getting any tax cuts, um, it's gonna prove to be a little bit of an issue.

The initial round of tax cuts added more than $4 trillion to the deficit, which Republicans tell us deficit's horrible. We gotta get rid of the deficit. So they've put themselves with their own talking points between a rock and a hard place, right? You've been about the deficit for years, but now you want to do something that's gonna raise the deficit by eight to $9 trillion according to estimates. So what do you do? You gotta push the tax cuts because Donald Trump wants it, but you gotta keep the deficit in line. Otherwise you look like a bunch of morons. Not to mention that once you pass the tax cuts, even your own base is gonna be off because they were off when you did it at the end of 2017 once they realized they weren't gonna get any of it. So you're gonna end up somebody off.

You just have to choose. Now, do you off Donald Trump and not extend the tax cuts or do you off your base by passing Trump's tax cuts that, of course, Trump benefits from you guys, benefit from, and your donors will benefit from. We all know the answer to that. They're gonna pass the tax cuts. I mean, they've got the numbers to do it, and by God they're gonna do it. But even Republicans in the House and Senate are admitting right now tax cuts could be in trouble because in order to do it, they're telling us we gotta watch out for that deficit. So we have to cut and cut and cut to pay for these tax cuts for the wealthy elite. And what's the number one item on the chopping block? Well, it's that piece of legislation that of course has been sending millions and millions of dollars across the country to rebuild things like infrastructure and new projects that are bringing jobs and income and economic activity to

Red and blue states alike. I am, of course, referring to the Inflation Reduction Act. That was the massive infrastructure package that President Biden signed into law and Republican Senator Tom Tillis told NBC quote, there's a lot of things we can claw back. The Democrats shouldn't be surprised that the American Rescue Plan and the Inflation Reduction Act should be ripe for that. And this idiot, I gotta tell you, he sees no irony in saying that he's gonna claw back something called the American Rescue Plan and the Inflation Reduction Act like those are good names for good things that did what they were supposed to do. American Rescue Plan, no, we want tax cuts for the wealthy, the inflation reduction. Everybody wants to reduce inflation. Nah, tax cuts for the wealthy, right? Some Republicans, of course, are not on board with this. So Republicans are sabotaging themselves by pushing this tax cut, which again, I 100% believe we'll go through.

[thediddymen]

It's the same as 2016, Trump promised to get rid of the country's debt, instead, he managed to add almost $8trillion to it !!

[rjramone]

Of course they'll find a way to blame Dems.

[maryridley]

I’m so sick of Mike Johnson I can’t wait to hear is when he is gone, bye

[huntern]

Starting to think the United Healthcare CEO and the public's reaction to it was the beginning of us reaching the boiling point to this crap.

[MichaelSmith-fjdi]

I hope I’m wrong, but I predict that there will be a severe economic depression due to Trump’s tariffs. The man can’t even keep a casino profitable!

[aerofool]

Most of the base don’t realize how the tax cuts are hurting them

[hussrealz]

And let's not forget: because the margins are so small, these Republicans now cannot hide behind the numbers. Now, each and every one of them, has to reveal who they truly are and what they care about

[santyacevedo]

The rich get richer, and the poor gets more poor

[HopeyDopey]

WE CAN HOPE IT GETS RID OF SOME OF THESE CREEPS! Are all the senators in office millionaires? How can a job that pays $174, 000/year make you a millionaire? Some outside funds coming from somewhere!! 🤔 😡 🤔

[laurakrajnikburick]

Trump doesn't care about the deficit.

[TrineDaely]

We need to cancel Elon's contracts and subsidies, that would be a good start.

[anniehinshaw]

At 65, I don't know if I can make it through another republican regime. Will I be on the streets for the rest of my life?

[JamesHolden-ij]

When you gave last tax cut, the deficit went up four trillion dollars

[andrewsnow]

I’ll say it again:
It should be illegal to be a billionaire. Any penny over one billion dollars of net wealth goes to reducing deficits, supporting the ACA, buying law enforcement better protection, rebuilding schools, paying off student debt.
It needs to be a law. Simple.

[baronghede]

Republicans need to actually look at Republican policies.

[lorischroeder]

Extra taxes, they don’t pay any taxes.

[natdatil]

Farron still thinks hypocrisy could end a Republican politician's career, bless his heart.

[titaniumismagical]

And once they get their tax cuts, that's when we "the working class" solely resume footing the bill for the infrastructure....The same infrastructure they've used the most to gain all their wealth over the years...Sincerely, a trucker.

[Kimberly-pfiy]

I love how this was explained. Thank you. Anytime these Republicans box themselves into a corner makes my day. 😊😊

[lindaSmith]

Oh they will piss of the base. They only needed the voters votes this one lasy time.