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Belle of the Ranch

Let's talk about Trump vs GOP vs GOP vs GOP and tax cuts....

Belle of the Ranch

Belle of the Ranch

Society & Culture

4.91K Ratings

🗓️ 1 December 2024

⏱️ 4 minutes

🧾️ Download transcript

Summary

Let's talk about Trump vs GOP vs GOP vs GOP and tax cuts....

Transcript

Click on a timestamp to play from that location

0:00.0

Well, howdy there, Internet people, it's Bell again. So today, we're going to talk about

0:07.0

Republicans versus Republicans. A three-faction dispute is growing over the tax cuts. Back in 2017,

0:17.3

Trump got a tax cut package through. The expiration date on the cuts is 2025. It's strange

0:24.5

that it was said to expire then, right? Right after he would have finished up his second term

0:29.7

if he had been re-elected in 2020. But now, he's entering his second term in 2025, which means

0:37.3

if they aren't extended, he'll

0:39.3

be presiding over a tax hike.

0:42.0

If this was set as a trap for a future president, Trump walked into it himself.

0:48.3

Well, Republicans in the Congress are giving him a headache.

0:52.7

Extending the cut would add about $4.6 trillion to the deficit,

0:57.5

according to the Congressional Budget Office. Given all the campaigning and rhetoric about

1:03.1

deficits and the debt, some Republicans believe the rhetoric and don't want to add to the deficit.

1:10.1

Others are trying to figure out how to get

1:12.3

the cuts extended to appease Trump. Still others have taken the stance of extending the tax cuts

1:19.0

and trying to pass some of Trump's campaign promises related to taxes. Representative Chip Roy

1:26.6

said, quote,

1:28.3

We should be mindful of making sure that there are corresponding cuts or corresponding tax changes to make sure that we are deficit neutral.

1:40.3

It seems incredibly unlikely that Republicans are capable of finding a way to offset the trillions of dollars the Congressional Budget Office says the extensions will cost.

1:52.4

That means Trump would again be running deficits and adding more to the national debt.

1:59.3

Rather than finding a way to pay for the cuts, Republicans are likely to lean into alternative

2:05.6

ways of doing the math, and attempting to cast doubt on the nonpartisan Congressional Budget

2:11.6

Office.

...

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