Sen. Cory Booker (D-N.J.) joins CNN's Dana Bash (D) to discuss the Democratic opposition to the Tax Cuts and Jobs Act of 2017, and why it's not about deficits, it's about jealousy.
00:00:30.000Republican tax cut. The Democrats have been saying for a while here that everyone would die. Now, I have to admit, I didn't take the warning all that seriously. I mean, they'd said that we were all going to die because President Obama pulled out of the Paris Accords. We had been informed that we were all going to die because of net neutrality repeal. And then they said that we were all going to die because of the tax reform. And I thought, that must be crazy. There's just no way. I mean, come on, really? They're going to put some more money back in my pocket and we're all going to die because of that? That seems a little bit extreme.
00:00:57.460And then I woke up and the world was empty. There's no one on the roads. Everyone, it appeared, was dead. Actually, no, it was just like 530 L.A. time. Everybody's alive. Everybody's fine. Nobody is dead. But the Democrats are protesting nonetheless.
00:01:12.300And what's really fascinating is to watch the ideological breakdown with regard to these protests. Because the Democrats are having a tough time coming up with the rationale for why they are so all fired angry at this particular tax cut. Are they angry because of the deficits? Because that's a new one.
00:01:30.660Are folks on the left angry because of the deficits after President Obama doubled the deficit? Doubled the national debt, rather. That seems a little bit weird to me.
00:01:40.240Are they angry because they think it's going to screw the middle class? We keep hearing that. It's going to hurt the middle class.
00:01:45.740Well, if that's the case, if that's the case that it's going to hurt the middle class, they have to explain why it is that pretty much everybody in the middle class gets a tax cut and why a series of companies came out yesterday and announced that they were going to give their employees pretty significant Christmas bonuses because of the tax cut.
00:02:02.600Well, Ted Lieu, the Democratic Congress, tweeted something out this morning that I think is really quite telling, really explains what it is that is driving so many of these of these talking points from the Democrats.
00:02:21.640Here's what he tweeted out, and it shows that there is a moral conflict that undergirds everything here.
00:02:28.000He tweeted out, GOP underestimates how people feel when they know others got a better deal.
00:02:33.620If Sally gets a tax cut of $380, but others get $200,000, she will be upset and wait until Joe finds out he's getting a tax increase for residing in California.
00:02:43.880That's why tax bill is so unpopular. Human nature.
00:02:46.880It's kind of a deep tweet when you think about it.
00:02:50.660Not because Ted Lieu is saying anything that we didn't know, but because he's admitting that what actually drives Democratic policy is a pure violation of the Ten Commandments.
00:03:01.420There is a commandment not to covet thy neighbor's property.
00:03:06.140What makes you a good person is not looking at your neighbor's stuff and saying, God, that's my stuff.
00:03:14.260You know, in Jewish law, I'm an Orthodox Jew. In Jewish law, you're allowed to look at your neighbor's stuff and say, I really wish I had a car like that.
00:03:20.340Maybe if I work really hard, one day I will have a car like that.
00:03:23.140What you're not allowed to do under Jewish law is look at your neighbor's stuff and say, that's my stuff.
00:03:28.840Why does he have stuff and I don't have stuff?
00:04:01.560We need to oppose tax cuts because, you understand, the rich guy getting more of his money back than the poor guy, not in percentage terms, but in absolute terms, that means that the poor guy is going to be jealous.
00:04:12.600You see, if the rich guy pays hundreds of thousands of dollars in taxes and gets back $10,000, and the poor guy pays $100 in taxes and gets back $20, of course the poor guy is going to be jealous.
00:04:23.640Now, the rational response, the moral response is, well, if you don't make as much money, you're not going to get as much of a tax cut.
00:04:31.020And you don't have a right to somebody else's money just because you're jealous.
00:04:34.460But what Lou is expressing is this view that the rich don't deserve to have their money.
00:04:39.700So you have to go from point A to point B.
00:04:41.760Point A is people are jealous of one another.
00:04:48.920We all covered our neighbor's property.
00:04:50.200Again, the idea in sort of biblical morality and traditional morality is that God commands you to do things because you don't want to do them.
00:05:00.180God didn't command you to wake up this morning and breathe because you're going to do that.
00:05:03.980God doesn't command you to eat because he knows you're going to do that.
00:05:06.960God does command you not to covet other people's property because he knows that you will do that.
00:05:11.740He knows that you're going to wake up in the morning and covet other people's property.
00:05:17.920But Democrats and people on the left, they go from point A, which is you are jealous, to point B, which is your jealousy deserves to be acted upon.
00:05:27.100Your jealousy deserves some sort of government redress.
00:05:30.280So now we're not just violating one of the Ten Commandments, the Jealousy Commandment.
00:05:36.560One, we're turning government into God.
00:05:38.500We're suggesting that government is some sort of great centralizing power that we should go to for redress of all personal grievances, justified or not.
00:05:46.740So we're turning government into our idol.
00:05:54.440If you ran into my house in the middle of the night because you were jealous that I have a thicker wallet than you and you broke into my sock drawer and you just grabbed the cash right out of my wallet, this would make you a thief.
00:06:03.440If you vote for people to do that, it doesn't make you any less of a thief.
00:06:07.440But Ted Lute thinks that this is a good justification.
00:06:32.040Instead, we have Democrats tweeting out, really, you know, for a middle class family, for a poor family, does 80 bucks a month really mean anything?
00:06:39.620And people tweeting back at them saying, yeah, it means something.
00:06:41.860It means I get to take my kids to dinner once a week.
00:06:44.820It means I can take my kids to a movie.
00:06:47.960And hell, would I like more money back?
00:06:53.100And Democrats have been trying to shy away from the implications of Ted Lute's jealousy argument.
00:06:57.220Basically arguing that Republicans are trying to hurt the poor in favor of the rich or that this thing is rigged for business and that businesses won't spend the money.
00:07:06.540They'll instead take the money and invest in stock buybacks.
00:07:08.900That, by the way, is a weird argument coming from Democrats again.
00:07:12.100The idea that businesses should not have as much money because they'll invest in stock buybacks.
00:07:15.940What do they think drove up the stock market during the Obama years?
00:07:19.000If you look at corporate profit lines, corporate profit margins, Obama was bragging about his healthy recovery, his vast recovery.
00:07:25.080What was driving that recovery was corporations taking their money and instead of investing it in new technologies and new workers,
00:07:32.600instead they were taking that money and plowing it back into buying back their own stock.
00:07:38.540And in doing so, drove up the stock prices and then Obama would go out on the campaign trail and talk about how the stock market was doing great.
00:07:44.420So it's weird to hear Democrats complain about corporations using the money to prop up their own stock price
00:07:49.060when that was largely the Democratic argument for Hillary Clinton in 2016.
00:07:55.080In the end, it comes down to a basic group belief.
00:07:58.040Is your property your own or is your property someone else's?
00:08:01.160The only way that Democrats can get from point A, jealousy, to point B, I can take your money,
00:08:04.940is if they believe it's not really your money in the first place, of course.
00:08:08.500They don't believe like the Founding Fathers did.
00:08:10.680They don't believe like John Locke did that what makes property yours is that you mix your labor with the land.
00:08:31.660They don't believe that government was instituted to protect your right to do that.
00:08:35.300They believe that every dollar in your pocket is there through the grace of government.
00:08:39.820They believe, as Hobbes did in Leviathan, they believe that absent any sort of government,
00:08:48.580that life would be nasty, brutish, and short, and that property rights really don't even exist.
00:08:53.460They believe in what they call positive law, the idea that government is what institutes rights.
00:08:57.100Not that rights pre-exist government, and government is instituted to protect those rights.
00:09:00.880Not that you have inherent value as a human being, and that your labor, therefore, belongs to you.
00:09:05.100But that your labor really belongs to the government, and the government is kind enough to let you keep some of it.
00:09:10.980And if the government lets some people keep more than others, even if you pay more in, that means the government is being unfair.
00:09:17.380This is what undergirds the entire logic that Democrats were using for years with regard to the Elizabeth Warren, Barack Obama notion, you didn't build that.
00:09:26.720In their belief, government built all of it.
00:09:28.180Government built that road, and therefore, government owns your store that is built next to the road.
00:09:33.300Sure, you could have built your store anywhere else, and if there were no road, maybe you would have worked with your neighbors to build one.
00:09:38.300But in the end, it's government that stands between you and the wolves.
00:09:41.800And if it weren't for government, you wouldn't have any rights at all.
00:09:45.540That underlying perspective allows jealousy to creep in the back door, and then take over the mansion.
00:09:51.160And that's what Democrats are pushing here.
00:10:28.300Earning a well-earned vacation for Glenn.
00:10:31.580And it really is a pleasure and an honor to sit behind the microphone for the Glenn Beck program.
00:10:34.900Okay, so President Trump was celebrating the passage of the Republican tax reform package.
00:10:40.240There's another bill, by the way, that's on the way that's going to fill in the gap with regard to the children's health insurance program.
00:10:45.180Democrats have been saying Republicans cut taxes just so that they couldn't pay for children to have health insurance.
00:10:50.800That program was created by a Republican in 1995, and now Republicans are going to continue funding it.
00:11:12.620I want to go through what he's done this year that's good, what he's done this year that's bad, how he can have a better year next year.
00:11:18.840But President Trump gets his moment in the sun, and he deserves it.
00:11:22.540So here's President Trump yesterday explaining that he has now liberated the economy from overreach.
00:11:28.640We've liberated the American economy from Washington overreach, cutting 22 regulations for every one new regulation, the most in history by far.
00:11:37.500We've cut hundreds and hundreds of regulations, allowing people to have their businesses, work their businesses, and hire people.
00:11:46.620And we still have plenty of regulation.
00:11:48.680Don't worry, we have plenty of regulation.
00:11:50.580Regulation is not the worst thing, but regulation was stifling in our country.
00:11:57.440And then he talked about how it's fun to win, which, of course, we know that President Trump is very big on the winning and the winning and the winning.
00:12:34.400That's basically how this tax cut worked.
00:12:35.840The truth is it didn't really have tons to do with President Trump as much as it had to do with Mitch McConnell doing the hard work in the Senate.
00:12:41.980He's the one with the two-vote majority in the Senate.
00:12:45.060President Trump gets credit because he's the president when this happens.
00:12:47.620But this was mainly a slog by Congress.
00:12:50.820What was odd watching yesterday was there's a press conference and they went around the table with President Trump.
00:12:56.560And everyone feels this weird necessity to just praise the president to the skies.
00:13:02.260You know, Vice President Pence, a man whom I like, he spent an awful lot of time saying really sycophantic things to President Trump,
00:13:10.680which is kind of an unattractive personal quality in the president that he needs to be praised by those around him every time something goes right.
00:13:18.320And even when things go wrong, it does provide a hindrance from time to time.
00:19:58.480So out here in California, that means that I now have to pay those state and local tax deductions basically disappear for me.
00:20:05.160So I may pay actually an additional tax if you're a high income earner in the state of California.
00:20:08.660But I am perfectly willing to do that if it means that everybody else gets a tax cut because I think that's better policy.
00:20:15.080And a lot of corporations are coming out and demonstrating to the world that when you free them up to spend their money, it's not that they're altruists.
00:20:24.980It's not that they're just sitting around waiting to spend the money in ways that benefit other humans.
00:20:28.840It's that they understand that in order to be competitive in a competitive market, putting a little more money in their pocket allows them to make their workers happier, more productive, invest in better services, invest in better products.
00:20:41.200That's the reason why Fifth Third Bank Corp is a bank headquartered in Ohio, and they announced that they would raise the minimum hourly wage for all employees to 15 bucks following the tax reform bill and would give a one-time bonus of $1,000 to more than $13,500 of their employees.
00:20:56.920I do love that they're raising the minimum wage to $15 because you've heard this from the left for a while.
00:21:01.780I used to do a show in Seattle, and when I was in Seattle, there was a big push by a socialist councilwoman named Shama Sawant.
00:21:08.660She was the originator of the Fight for $15, $15 minimum wage, and she had pulled the $15 minimum wage statistic directly from her colon.
00:21:15.680I mean, it was not as though—I asked her this directly.
00:21:18.300I said, is $15 minimum wage tethered to anything?
00:21:21.180Is there a reason for $15 as opposed to, say, $1,000?
00:21:24.140I mean, you're a socialist, so why not go all the way?
00:23:41.360By the way, Comcast has also announced they're going to give $1,000 bonuses to over 100,000 eligible frontline and non-executive employees
00:23:47.860and invest $50 billion over the next five years in infrastructure based on the passage of the tax reform.
00:23:53.460FedEx has announced that they're going to ramp up hiring.
00:23:55.460The Washington Post reports executives at the package delivery company say the passage of the bill, which promises massive cuts to the corporate tax rate,
00:24:04.020would prompt the company to increase spending on new hiring as well as new equipment and technology.
00:24:08.840The company also projects the changes amount to a $1.3 billion increase in annual profits, according to calculations by Bloomberg.
00:25:43.740That's why deficit hawks are not happy with it.
00:25:46.620The drawback is that we're going to be spending a lot of money and we're not paying for that spending.
00:25:50.980But that seems to me more of a problem of the government spending than it is the problem of the government giving you back more of your own money.
00:25:57.860Those individual tax decreases are supposed to sunset in 2025, go away in 2025.
00:26:03.440In reality, they will likely continue.
00:26:05.640The big part of this bill is that corporate tax rate decrease.
00:26:09.100Before the bill, the U.S. had the highest corporate tax rate in the industrialized world.
00:28:30.880Trump was saying that Obamacare has been repealed.
00:28:34.060The individual mandate is being repealed.
00:28:38.840When the individual mandate is being repealed, that means Obamacare is being repealed because they get their money from the individual mandate.
00:28:51.680What President Trump is saying there is not true.
00:28:53.420The individual mandate being repealed is a very good thing.
00:28:55.280It means you are not going to be forced to buy health insurance if you don't want to buy health insurance.
00:28:58.960However, it does not repeal Obamacare.
00:29:01.260The individual mandate just means that you won't be forced to purchase health insurance.
00:29:04.560Now, the reason that the Republicans stuck this in the bill is because, again, this was a little bit of deficit game playing.
00:29:13.020The individual mandate, getting rid of the individual mandate lowers the deficit because a lot of people, knowing that they're going to be fined by the government, go and sign up for Medicaid.
00:29:20.840Fewer people are now going to go sign up for Medicaid.
00:29:22.460And so that means that the deficit goes down on the federal level.
00:29:25.920But the individual mandate disappearing doesn't disappear Obamacare.
00:29:30.360Insurance companies are still required to cover pre-existing conditions.
00:29:34.100All the regulations on pricing still exist for the insurance companies.
00:29:36.980And, in fact, it means that the cost on the insurance companies just went up because the individual mandate forced young, healthy people like me to subsidize older, sicker people by paying into the insurance programs.
00:29:48.700So the individual mandate going does not mean Obamacare is dead.
00:29:51.420So that is not true what President Trump is saying.
00:29:54.540If he thinks that's all we're doing on Obamacare, then that's going to be a serious problem.
00:29:58.400It is because you're going to see prices jump in the individual insurance market.
00:30:02.340And Republicans will pay a price for that unless they do what they're talking about doing, which is backfill that hole by directly federally funding people who are sick and needy in these states, in the individual market, which basically means a new entitlement program.
00:30:16.660So you got rid of the individual mandate, but you're instituting a new entitlement program.
00:38:22.240Like, tiny Tim, he might be died from the overload of metaphor from the Democrats.
00:38:26.980They've piled so much metaphor on top of him that his frail body couldn't handle it anymore, and tiny Tim keeled over.
00:38:31.140But Jackie Spire trotting out the corpse of tiny Tim anyway.
00:38:34.480You know, this is the ultimate bad Christmas carol story.
00:38:40.900This may be the most shameful day in the history of Congress.
00:38:45.840Today, in the House, we are going to shake down hardworking Americans for a 1.3 or 2.3, depending on how you count it, trillion dollar tax cut.
00:39:01.420And at the same time, we're going to put 9 million kids in this country at risk.
00:39:10.500And these 9 million kids aren't eligible for Medicaid, and their families can't afford the Affordable Care Act
00:39:19.800because they have to pay a certain amount, and the subsidized amount doesn't cover the cost.
00:39:43.660And just a quick note on Tiny Tim and Democrats.
00:39:45.940If Nancy Pelosi and Democrats had their way, remember, Tiny Tim was the son of the Cratchits in the story.
00:39:50.720If Nancy Pelosi and Klan had their way, Tiny Tim never would have been born.
00:39:55.320Presumably, he would have been aborted so that the Cratchits could have moved to Paris and indulged in a little body painting.
00:40:01.140Also worth noting, in the actual story of Christmas Carol, the government does not come in and take Scrooge's money and give it to Tiny Tim.
00:40:09.420The whole story is about how religious observance and adherence and belief in God and the value of Christ.
00:40:16.520These are the things that drove Scrooge to give money to the Cratchits.
00:40:21.720It was Scrooge is a private citizen who chimed in.
00:40:25.760But again, it's sort of like when Barack Obama was talking about how Trayvon Martin was his fictional son.
00:40:32.340If you have to resort to fictional characters in order to make up victims for your narrative, you're not doing a good job politically.
00:40:38.020You're just not doing a real smart job politically.
00:40:40.380Meanwhile, the press have been doing their best to tear down this tax reform bill as well.
00:40:45.660There are a couple instances on cable news yesterday that were truly insane.
00:40:48.360Katie Turr over at MSNBC actually questioned Dave Bratt, I think it was Dave Bratt, from Virginia.
00:40:54.480And at one point she asked him how much money he made.
00:40:56.800The suggestion, of course, being the only reason that Dave Bratt would support a tax cut is because Dave Bratt was set to make a lot of money.
00:41:03.020And Dave Bratt immediately said, well, Katie, how much money do you make?
00:41:06.160Because Katie Turr must make a lot more money than Dave Bratt.
00:41:09.760Dave Bratt probably makes $150,000 a year.
00:41:11.980Katie Turr has got to be making $400,000 to $500,000 a year minimum.
00:41:16.040But the notion from the media has been throughout that this is some sort of giant boondoggle giveaway to the rich and only rich people support tax cuts.
00:41:47.300Do you think that it re-enshrines rights or that it invades rights?
00:41:51.380But for the left, the only reason you could possibly be in favor of a tax cut is because you're selfish and greedy.
00:41:56.240Now, it's hilarious that the same left will then say it's not selfish or greedy for you to oppose a tax cut and want a redistributionist program if you're poor.
00:42:02.820So if you're poor and you want somebody else's money or you're low income and you think that the government should take someone's money and give it to you, that's not greedy.
00:42:41.08080% of Americans will see a tax decrease.
00:42:43.260Only 5% of Americans will see any form of tax increase under this bill.
00:42:47.900But that's because the media have been pumping out headline after headline trying to make it sound as though this bill is specifically directed at helping the rich and damaging the poor.
00:42:57.080I mean, if you go over to CNN and you look at their headlines, then, I mean, it's obvious which side they are taking.
00:43:06.820So I discussed earlier the fact that a bunch of companies have come out and said they're going to spend new dollars, they're going to give bonuses.
00:45:11.620When Trump hits the media, I've always thought it's a good idea to hit the media when they lie.
00:45:14.680My problem with President Trump typically on the media has been that he says that the media are fake news when they're not actually reporting fake news.
00:45:21.620Not everything the media say is fake news.
00:45:56.580So, Jim Acosta, one of the worst reporters over at CNN, you can hear the ire dripping from his voice when he says this is the happiest Republicans have been all year.
00:47:29.520So this has been a very good month for President Trump in terms of policy.
00:47:34.120He's got his tax reform plan complete with the repeal of Obamacare's individual mandate.
00:47:38.440He announced earlier this month in what I thought was a brave, gutsy move that the U.S. would be there to recognize Jerusalem as Israel's capital.
00:47:45.060We'll talk a little bit more about that in a few minutes because Trump is making some statements that I, he made some statements.
00:47:50.380Even I, who did not vote at the top of the ticket, I love what he's doing on Jerusalem.