JACKIE: A HOT MIC MAY HAVE
TIPPED DEMOCRATS’ HAND ON
PASSING THE BIDEN
ADMINISTRATION’S MASSIVE
INFRASTRUCTURE PLAN.
DURING A NEWS CONFERENCE
YESTERDAY, MARYLAND DEMOCRAT
SENATOR BEN CARTON CAUGHT
TELLING THE TRANSPORTATION
SECRETARY PETE BUTTIGIEG THAT A
BUDGET RECONCILIATION WOULD
LIKELY BE NEEDED TO PASS THE
INFRASTRUCTURE BILL.
TAKE A LOOK.
>> CERTAIN PARTS OF IT,
ULTIMATELY WHEN WE PUT TOGETHER
SIMILAR TO HOW YOU -- [
INDISCERNIBLE ]
JACKIE: AND JOINING ME NOW,
AMERICANS FOR TAX REFORM
PRESIDENT, GROVER NORQUIST.
GROVER, GOOD MORNING TO YOU.
YOU JUST SAW THAT EXCHANGE.
AND I DO WANT TO HIGHLIGHT
BEFORE WE GET INTO IT THAT THE
CORONAVIRUS RELIEF PACKAGE, THE
1.9 TRILLION THAT WAS JUST
PASSED THAT REALLY DIDN’T HAVE
ANYTHING TO DO WITH THE
CORONAVIRUS, WHICH IS WHAT THEY
USED BUDGET RECONCILIATION FOR,
THEY’RE NOW CALLING IT THE
AMERICA RESCUE PLAN.
DID AMERICA NEED TO BE RESCUED?
AND DO WE NEED MORE BILLS LIKE
THIS GOING FORWARD?
>> NO, AND OF COURSE THEY CALL
IT COVID BECAUSE IT WAS ABOUT
EVERYTHING ELSE.
IT WAS ABOUT SPENDING
$2 TRILLION.
THERE’S A LAW IN THERE THAT SAYS
THAT STATES CAN’T CUT TAXES FOR
FOUR YEARS.
NOT SURE THAT’S CONSTITUTIONAL.
BUT THAT’S IN IT.
OKAY.
SO IT IS A LEFT WING POLITICAL
WISH LIST.
THEY BROUGHT BACK EARMARKS WHICH
ARE THE CORRUPT PROCESS OF WHERE
A CONGRESSMAN DELEGATES, I WANT
THIS MONEY TO GO TO THIS PERSON
WHO MIGHT BE A DONOR AND IT’S
VERY SAD.
THERE WERE FOUR OR FIVE COVID
BILLS PASSED IN THE LAST YEAR ON
A BIPARTISAN BASIS WHEN TRUMP
WAS PRESIDENT.
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ROADS,ROAD -- EXCT ROADS,
EVERYTHING EXCEPT BRIDGES AND
HIGHWAYS.
JACKIE: IT’S GOING TO BE
INTERESTING TO WATCH.
TREASURY SECRETARY JANET YELLEN
WORKING WITH HER WORLDWIDE
COUNTERPARTS ON THIS AGREEMENT
TO ESTABLISH A GLOBAL MINIMUM
TAX ON MULTINATIONAL
CORPORATIONS.
IT’S COMING AS THE
ADMINISTRATION IS LOOKING TO
RAISE TAXES IN A FORTHCOMING
INFRASTRUCTURE BILL AS WELL.
GROVER, YOUR REACTION TO THIS?
BECAUSE WE KNEW BIDEN WAS GOING
TO RAISE TAXES, IT’S JUST
INTERESTING THE WAY THEY’RE
GOING ABOUT DOING IT.
AND I FIND IT SO INTERESTING
THAT SO MANY OF THE PEOPLE THAT
SUPPORTED THIS ADMINISTRATION
ARE NOW CRYING FOUL OVER THE
FACT THAT TAXES MAY GO UP AND
IMPACT THEIR BUSINESS.
IT’S LIKE WHAT WERE YOUR
THINKING?
THEY TOLD YOU THEY WERE GOING TO
DO IT.
>> 53% OF AMERICAN FAMILIES
HAVE A 401-K OR IRA.
ALL OF THEIR LIFE SAVINGS IS
GOING TO BE DAMAGED BY BIDEN’S
TAX INCREASES ON THE CORPORATE
INCOME TAX.
HE WANTS TO TAKE IT UP HIGHER
THAN CHINA’S CORPORATE INCOME
TAX.
HE WANTS TO DOUBLE THE TAX ON
CAPITAL GAINS, BRING IT BACK TO
ABOUT 44% WHICH IS WHERE IT WAS
CLOSE TO WHERE IT WAS WHEN JIM
ANY CARTERS WAS PRESIDENT AND --
JIMMY CARTER WAS PRESIDENT AND
THE ECONOMY WAS COLLAPSING.
HE’S DOING SO MUCH DAMAGE TO
PEOPLE’S LIFE SAVINGS AND
SETTING UP A CARTEL -- IF
BUSINESSES GOT TOGETHER AND SAID
WE’LL HAVE MINIMUM PRICES, THE
ANTI-TRUST WOULD BE BROUGHT IN.
THE GOVERNMENTS ARE GETTING
TOGETHER.
WE WON’T COMPETE TO HAVE LOWER
TAXES, HOW ABOUT THAT.
THAT’S REALLY VERY BAD NEWS FOR
THE UNITED STATES.
JACKIE: I JUST WANT TO PRI UP
THE POINT -- BRING UP THE POINT
FOR PEOPLE THINKING THIS DOESN’T
IMPACT ME BECAUSE WHEN THE
ADMINISTRATION CAME IN THEY SAID
WE WON’T RAISE TAXES ON INCOME
UNDER $400,000.
WELL, IT DOES IMPACT YOU BECAUSE
WHEN THEY RAISE THE CORPORATE
TAX RATE, WHO DO YOU THINK THE
COMPANY IS GOING TO PASS THOSE
COSTS ONTO?
THEY PASS IT ONTHE CONSUMER.
WE SEE IT HAPPENING AT THE GAS
PUMP WITH RISING GAS PRICES.
WHEN PEOPLE SAY IT DOESN’T
IMPACT ME, I TRY TO TALK SENSE
TO THEM.
IN NEW YORK STATE, THE ASSEMBLY
IS PROPOSING $7 BILLION WORTH OF
NEW TAXES ON THE WEALTHY TO PAY
FOR THE BUDGET, INCLUDING
RAISING THE TOP LEVEL TO 11.85%,
A CAPITAL GAINS TAX ON THOSE
EARNING MORE THAN $1 MILLION A
YEAR, AND ESTATE TAX BOOST FROM
16% TO 20%.
THE STATISTICS IN MANHATTAN, FOR
EXAMPLE, SHOWING THAT 65,000
FAMILIES PAY THE HANG MAJORITY O
TAXES, A LOT OF THE FAMILIES
HAVE LEFT.
I DON’T THINK THEY’LL COME BACK
TO POLICIES LIKE THIS.
>> ABSOLUTELY.
SAME THING IN CALIFORNIA WHERE
1% OF THE POPULATION IS PAYING
50% OF THE INCOME TAXES.
IT DOESN’T TAKE TOO MANY PEOPLE
TO LEAVE CALIFORNIA AND NEW YORK
FOR THE GOVERNMENTS TO COLLAPSE
IN TERMS OF THE FINANCING.
ITS IS INTERESTING THAT THEY’RE
MAKING THIS DECISION.
FLORIDA, TEXAS, TENNESSEE, NO
INCOME TAX AT ALL.
BETTER WEATHER.
IT’S AN ODD DECISION THAT NEW
YORK AND CALIFORNIA ARE MAKING.
AND AGAIN, OBAMA -- OBAMA --
BIDEN IS THROWING ALL THIS MONEY
FROM OTHER STATES INTO FINANCING
THE BLUE STATES AND THEY’RE
STILL RAISING TAXES.
JACKIE: AND THEY’RE STILL
RAISING TAXES, THE DEFICITS,
GROVER, ARE SO BAD.
IN ALBANY, ANDREW CUOMO WHO HAS
A LOT OF PROBLEMS RIGHT NOW HAS
A BIG BUDGE HE’LL BUDGET PROBLEM
>> CUOMO’S PERSONAL PROBLEMS
AND SENDING SICK PEOPLE INTO OLD
FOLKS HOMES AND CAUSES TENS OF
THOUSANDS OF DEATH, THIS IS
GOING TO DRIVE HIM FURTHER TO
THE LEFT.
REMEMBER THE DEMOCRAT GOVERNOR
OF VIRGINIA WHO GOT IN TROUBLE
FOR RACIAL STUFF, HE MOVED SO
FAR TO THE LEFT THAT ALL OF A
SUDDEN EVERYBODY STOPPED TALKING
ABOUT THAT AND HE BECAME A HERO
TO THE LEFT.
CUOMO IS DOING THE SAME THING,
MOVING SO FAR TO THE LEFT THAT
HE THINKS PEOPLE WILL SHUT UP
ABOUT HIS PROBLEM.
JACKIE: GREAT TO SEE YOU THIS