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Belle of the Ranch

Let's talk about McCarthy's deals and the Tax....

Belle of the Ranch

Belle of the Ranch

Society & Culture

4.91K Ratings

🗓️ 27 January 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

Let's talk about McCarthy's deals and the Tax....

Transcript

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0:00.0

Well, howdy there internet people, Lidsboo again.

0:04.0

So today we are going to talk about the tax man

0:08.1

and how the Republican Party is already running into issues with the deals that McCarthy made to become speaker.

0:20.0

There were a number of little side deals that were alleged to have been made.

0:26.9

Some of them are already starting to surface and cause tension within the Republican Party.

0:32.8

One of the biggest at the moment

0:34.4

is something called the Fair Tax Act.

0:37.8

In short, this is getting rid of the IRS completely

0:41.8

and replacing it with a sales tax of about 30%. Obviously this is

0:47.6

going to hit lower income people the most because they have to spend more of their checks just to get by.

0:57.0

So it's going to hurt them.

1:00.0

It would really benefit the ultra wealthy.

1:03.3

This is something that most Republicans are aware of and they understand that this is

1:08.8

going to hit the working class hard and it's going to hit their portion of the working class and the

1:18.4

upper middle class hard. Your suburban, you know, that big SUV you're gonna buy, yeah that thing's now, it's

1:29.7

going to be like, I don't know, 120 grand. It will price a lot of the upper middle class out of things that they

1:38.2

feel entitled to. Now McCarthy is said to have promised a vote on this. That is how the far right

1:48.8

Republicans view it and we're talking about the holdouts who made him go through all of

1:55.2

those embarrassing you know votes. They view it as a promise on a vote. Now

2:01.8

when McCarthy is saying that isn't what he promised.

2:04.0

He promised that it would go to committee or whatever and the Republican Party

2:09.0

apparently plans to get rid of it in committee. McCarthy has signaled that he is going to oppose

...

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