FIRST AIRED: December 17, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>>
MUSIC]
00:00:05
Well I think we did everything that we could. But at the end of the day what you had is people like Mr. Mnuchin, who himself is worth 3 or $400 million. Or the President of the United States who is worth several billion dollars. As you mentioned, some 4 or 5,000 lobbyists doing everything that they could to write a bill which significantly benefits the wealthiest people in this country and the largest corporations.
00:00:33
The latest analysis that we have seen suggests that 72% of the benefits go to the top 5%. My guess is that 60% of the benefits will go to the top 1%. And at the end of the decade because the benefits for the middle class are temporary while the corporate benefits are permanent, at the end of the decade over half of the middle class will be paying more in taxes.
00:00:59
Why weren't the tax breaks for the middle class made permanent? Because it has to do with the priorities of the folks who wrote that legislation, and their job is to represent multinational corporations and not working families. And that's where we are today.