Tom Rogan, JOE, Ronald Reagan discussed on The Dan Bongino Show
You're darn right. Spite record income tax revenue coming in. Eight hundred ninety eight. We are running Obama era deficit. It does none of us any good to apologize for this and we have to start activating and asking our congressional representatives and senators out there. What the heck are you guys doing? Ladies and gentlemen, please understand in a four trillion dollar budget, a nearly trillion dollar deficit every single year is in no, no fathomable universe. Is that sustainable? This we are on a guaranteed path to national bankruptcy that is going to manifest itself shortly through higher interest rates. If this keep up which are going to strangle the economy, do you feel about paying eighteen percent on your mortgage? All that's not going to happen? Oh, you sure. I've got some more for you. I've got more coming for you soon more data to show you that not only can this happen. It is happening around the world right now. What are the Turkis interest rates which moved them up to like forty percent though. Folks. We're in a world of trouble. Now I wanted to speak one simple premise from this too, because. A guy like I have a lot of respect for them. Tom Rogan writes for the Washington Examiner, you see on FOX. Sometimes he does some good work. But Rogin wrote a piece yesterday in the Washington Examiner. I think it's in yesterday's show notes. I put it in there suggesting that the GOP should not make these tax cuts permanent. You all know the story. The income tax cuts were not permanent. The corporate tax cuts were because of democrat obstruction on the filibuster side and having to use reconciliation. So the Democrats blocked now there's talk attacks cuts, two point. Oh, and making these income tax cuts permanent for you. There are the Democrats are threatening to obviously to filibuster that again, Brogan who was, you know, is not a not a liberal by any stretch, but wrote listen. We should really reconsider making these tax cuts permanent because the deficit situation unless we can accompany which is not a bad idea by the way, he says, unless we can accompanied Joe those tax cuts with significant spending cuts. We have a real problem now. I don't disagree with a company with spending cuts at all. I think Rogan makes a great point there. I think he's right, but I disagree with the necessity to pair them to make them permanent. A reason I say that. It is again the evidence over time. When you look at income tax cuts on the Reagan under John f. Kennedy under George W Bush under Calvin Coolidge wherever you go. When you look at those income tax cuts, it shows pretty conclusively that we're not gonna suffer a long-term loss and tax revenue. So I don't. I disagree with you what I'm saying, Joe, I like his idea of accompanying those tax cuts with significant government spending cuts. Great, great idea stipulated, but I don't agree with making that some this positive factor. In other words, if it doesn't happen and don't make them permanent that I disagree with completely because there's very little evidence that these significant income tax cuts, if we can, if we can get them in there and lock them in this very little evidence that it's going to cost the government money, which I hate that term. But over time at all and exacerbate the deficit, there's little very little evidence of that. Matter of fact, remember folks, Ronald Reagan over the course of his presidency cut the top tax rate from seventy to twenty eight percent as anybody. Doubt the dramatic that a seventy two twenty eight percent Donald Trump's income tax cuts on the top cyber like one or two percentage points depending on how you calculate your taxes. The Reagan tax cuts folks. We're almost, you know, nearly forty plus points of percentage point taxed at the marginal rate and tax cut the tax revenue to the government doubled doubled. So I disagree with the premise on air. One final point on this. Tax revenue to the government. Overall, even income tax revenue went up the corporate tax side fell tax revenue to the federal government overalls down seven billion. So the liberals, Joe look, look to tax cuts, exacerbated the deficit problem..