TRANSCRIPTION
(Please note that this transcription of the video interview may not be perfect. While every effort has been made to ensure accuracy, some errors or omissions may occur. The transcription may contain inaccuracies due to the quality of the audio, speaker accents, or background noise. For the most precise information, please refer to the original video recording.)
Interviewer 1: Let’s bring in Americans for tax reform president Grover Norquist. Grover, where to begin with this? Just a couple quick things. Nancy Pelosi was saying ‘Shame! Shame!” on all the Republicans and anyone who supports tax cuts essentially, and that the Trump tax bill gave 83 percent of the benefits to the top one percent, and then also on Biden’s side he says “Oh, I’m only going to raise taxes on people making $400,000 a year.” Well, that needs to go up to close to $500,000 because of his inflation. What say you?
Grover: Yeah, that’s right. Nancy Pelosi’s trying to defend her party’s positions on tax increases in the past, it has not worked out well. The inflation that she and Biden put on all the American people bringing prices up 18, 19 percent, to where unless you got a 20 percent increase in pay since Biden got elected, you are poorer today because of Nancy Pelosi, the Democrats, and Biden than you would have been without them. More Americans are falling behind rather than moving forward because of Biden’s policies. What did Trump actually say? He had a couple of really good ideas. One was, we’re not going to tax tip income. So we’re going to take that off the table. That’s a wonderful idea and something we ought to consider doing, and that’s something that’s very doable. He also said specifically, we’re going to take the corporate income tax, now 21 percent, to 20. Our friend Mr. Biden wants to take it higher than China’s. So President Trump says, we’re gonna have a lower tax on business than China. And Biden says, we’re gonna have a higher tax on businesses. So American workers will have to compete in Biden’s world on lower wages, not lower taxes as the Republicans and Trump want and less regulation. Lower wages is how we’ll compete with China and with Europe. So each of these things that has been put forward really shows the difference between the two parties and boy are they moving in different directions. The idea of completely getting rid of the income tax is out there. I’m not opposed to that over time. There are a dozen states that are moving to phase their income tax out over the next 10 to 15 years. And there are seven that have none now. So you can run a government without an income tax. What’s important is President Trump saying we’re going that direction. And on the corporate income tax, he points out who pays the tax on a company? Consumers do in higher prices, workers do in lower wages, and retirees do in lower life savings.
Interviewer 2: If you want to simplify it for Democrats, you can just say, just look at the states in America, the states that have the best regulation and the lowest taxes or no taxes, Florida, Texas, Tennessee, businesses flocking to those states and they’re leaving the high tax states. Same things happen with countries to your point, Grover. But I want to move on to this because (Joan)? Company have dug the economy, this economy into a hole. It’s affecting the American worker, the American family. One way out is what you preach about is cutting taxes and loosening the regulations. And that’s exactly what Trump is pitching. It worked for Ronald Reagan, it worked for Donald Trump in the first four years, but it’s a bunch of hogwash for a team Biden. Watch.
Janet Yellen (TS): Traditional supply side economics wrongly assumes that policies such as tax cuts for those at the top and deregulation will fuel growth and prosperity for the nation.
Interviewer 2: So Grover, this is just, she’s just a plain flat out liar. Again, reducing taxes, reducing regulation spurs economic growth. All the data points to that. High regulation, high taxes does the exact opposite. She’s a liar.
Grover: And she’s old enough to know better. In the 1980s, the Democrats and the Republicans got together and completely deregulated trucking and airlines and rail and buses, and the cost of transportation in this country fell 20 percent. By getting rid of the first government agency, the ICC, Interstate Commerce Commission, that lasted 109 years doing stupid, destructive things. We got rid of it on a bipartisan basis. And remember, the Reagan tax cuts were on a bipartisan basis. They were modeled on the Kennedy tax cuts. The Democrat party has forgotten that they used to be the party of lower tax rates under Kennedy. They voted with the Reagan Republicans for lower tax rates and deregulation. And then one day they woke up, and for strictly political reasons, they’ve decided to be the party of big government, even though they know it hurts workers, retirees and consumers.
Interviewer 1: Absolutely Grover. It’s just for political power, because the bigger government is the more control that they have. It’s purely personal for them. They don’t give a flying damn about the hard working American people, or the companies they work for and the burdensome regulations that they pile on. Grover, thank you so much, it was good to see you.
