![]() ![]() Why are they pushing this agenda? Because 80 percent of the tax breaks in this proposal will go to the top 1 percent. Now, the Trump Republican tax proposal that's before us today, this proposal is being pushed by Senator Cruz's campaign contributors, some of the wealthiest people in this country, by the Koch brothers, who are worth $90 billion. And what we have seen is a massive transfer of wealth from working families to the top 0.1 percent, trillions of dollars because of cooperate greed and an unfair tax system. For 40 years, the middle class of this country, the great middle class has been shrinking. ![]() Here is the reality of American society today. Bush did, like Ronald Reagan did, we're going to create zillions of jobs and you're all going to become very, very rich, that we have a trickle-down economic theory, tax breaks for the wealthiest people, the largest corporations, and, whoa, everything is good. In two minutes, Senator Cruz is going to tell you that if we give tax breaks to the billionaires like George W. BERNIE SANDERS, I-VERMONT: Let me make a prediction. And the Republicans want to cut them so that you have more in your pocket.īASH: Senator Cruz, thank you. Bernie and the Democrats want to raise your taxes. Tax cuts are about jobs and more money in your pocket, more money for the single mom to buy books for her kids, for the truck driver to be able to afford sending his daughter to college, for - for the family who's struggling to make ends meet to be able to save up and go to Disneyworld. You get it from the working men and women in this country. That means if you want tax revenue, you don't get it from the millionaires and billionaires. We could take every single person making $1 million a year or more and confiscate 100 percent of their income, everything they make, every penny, and it would raise about $1 trillion, about 8 percent of the cost of Bernie's tax plan. And who pays for it? Well, the Democrats always talk about the millionaires and billionaires, but here's a simple fact. That's what he's proposed raising in new taxes. Bernie's tax plan cost over $13 trillion. Now, how do we know this? We know this because there's a difference between facts and rhetoric. And so if you pay taxes, he's talking about you. Every time Bernie says the rich, what he means is taxpayers. Bernie is going to suggest in just a few seconds that this is not really about you, this is about, quote, "taxing the rich." That's what the Democrats always say. Now, tonight I'm going to make a prediction. And Republicans want to lower the taxes for each and every person watching this debate. Bernie and the Democrats want every one of you watching today to pay more taxes. Now we're back with taxes.Īnd I got to say, this debate is very, very simple. Several months ago, you and I did Obamacare. I want to thank CNN and Jake and Dana both for hosting this, everyone for coming out, and, Bernie, thank you for joining us for a substantive debate on tax policy. Senators, let's start with your opening arguments. A reminder: You will get 90 seconds to answer questions from us and our audience, 45 seconds for responses and rebuttals. Senator Sanders opposes it.īASH: Gentlemen, welcome. Senator Cruz supports the president's effort to lower taxes. TAPPER: Meanwhile, President Trump's treasury secretary is saying that the stock market, now at a record high, will drop if Congress does not cut Taxes. This morning, President Trump again promised his plan will be a boon to small businesses and the middle class, but President Trump's critics say the plan is a huge boost to the rich and might even raise taxes for some in the middle class. Will Congress go for it? And how might it affect your wallet? I'm Jake Tapper.ĭANA BASH. At issue, President Trump's new tax plan. JAKE TAPPER, CNN: Live from Washington, this is CNN's Debate Night with Senators Bernie Sanders and Ted Cruz. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. Ted Cruz and Bernie Sanders Debate GOP Tax Plan. ![]()
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