NBC’s Savannah Guthrie followed the left’s predictable rhetoric on the Republican tax bill, bluntly asking House Speaker Paul Ryan if he was “living in a fantasy world” for believing the bill would be helpful to American workers.
“And by far, the biggest tax cut here, the cut in rate, is going to corporations…. As I understand your argument, and that of your colleagues, you’re counting on corporations to take that money they now have and plow it right back into the economy, hire people, raise wages.” Guthrie said on NBC’s “Today” early Wednesday. “It doesn’t work if they don’t do that. Is that correct?”
— NBC News (@NBCNews) December 20, 2017
“Studies show us that that is exactly what does happen” Ryan responded, adding that “we tax American corporations at the highest rate in the industrialized world.”
Questioning whether the tax cuts to corporations proposed in the bill would actually lead to economic growth, Guthrie referenced “a list of CEO’s,”quoting an opinion piece written by former New York City Mayor Michael Bloomberg, “a billionaire, hardly an enemy of business” according to Guthrie.
“CEOs aren’t waiting on a tax cut to ‘jump-start the economy’—a favorite phrase of politicians who have never run a company—or to hand out raises,” Bloomberg had said. “It’s pure fantasy to think that the tax bill will lead to significantly higher wages and growth.”
Guthrie then fired at Ryan, asking the Wisconsin lawmaker, “I’ll ask you plainly: Are you living in a fantasy world?”
Never mind that Guthrie’s obvious bias and tone stretched the bounds of what should be journalism, Ryan pushed back and referred to a National Association of Business Manufacturers survey.
“Surveys would show the vast majority of businesses are going to do just what we say, reinvest in their workers, reinvest in their factories, pay people more money, higher wages,” he said.
The final version of the tax bill was passed by the Senate in the early morning hours Wednesday, cutting corporate tax rates and overhauling the tax code. The corporate tax cuts, according to Republicans, will lead to businesses reinvesting the savings by raising wages but Democrats slam the logic, claiming the plan will benefit corporations and the wealthy over workers.
“The data is really clear, by the way, workers benefit from this through higher wages,” Ryan told Guthrie. “It’s not a question of if, it’s a question of how much they benefit, is really where this goes.”
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