Paul Ryan schools Chris Matthews on Bush tax cuts

Paul Ryan goes head to head with New York Congressman Joseph Crowley (D). It’s really not even a competition. When asked if he supports repealing the Bush tax cuts, Crowley just says he agrees with what Geithner said about not repealing the Bush tax cuts for the ‘Richy Riches’ out there, though I doubt he could even recite it.

Then Matthews hones in on Ryan, wanting specifics on what he would do to cut spending since he is against the repeal of the tax cuts. Turns out he asked the wrong guy. Ryan quickly throws out several things that would amount to over 4 trillion in cuts to the deficit. Matthews then whats to know why he supports tax cuts for the wealthiest 1% of individuals, except he wasn’t looking for the answer Ryan gave him. Ryan had to explain to Matthews that so many of those ‘individual filers’ actually run small businesses, and it would hurt job growth to tax them more.

Un-interestingly enough all Crowley could do in response was to criticize what Ryan didn’t say and then tout the ‘Pay Go’ that the Democrats passed, that they keep waiving every time they need to pay for something. Notice that Matthews never really asks Crowley specifics about what he will do about the deficit. He just lets him get away with basically saying nothing.

In short, Ryan talked substance and Crowley talked…er..talking points.

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20 thoughts on “Paul Ryan schools Chris Matthews on Bush tax cuts

  1. No, he didn't say it would hurt the economy and the country… just that we can withstand it.

    For that matter, marginal tax rates were up to 90% during the Eisenhower years, and 50% for most or Reagan's and people look back at those times as economically wonderful… the golden years. I don't advocate going back to those, of course. But I look to them as a historic comparison, to see how much wiggle room we actually do have, if raising taxes is necessary… and with a $13T debt, I think we do need to raise taxes.

    I think it turns out, we have quite a lot of wiggle room.

  2. Actually, most jobs in America are created by small business, which is not the wealthiest 1%. Most workers are hired not by business owners, but by managers, who don't get their guidance from the owners, which are the shareholders. If they get it at all, they get it from the SEO's, who have far more incentive to cut payroll than to hire more workers, even when the company is making a profit. How often have you seen a company making decent profits, even record profits… and while the CEO gets a bonus, they still lay off workers because they have to “stay competitive” which means they want to meet the Wall Street projection.. because their stock will go down if they don't.

    If you track marginal tax rates and unemployment rates, you find little if any correlation.

    Here's the unemployment rates:

    Here's the tax rates:

    In 1992, Bush41's last year, the marginal tax was 31%, and it went up to 39.6%. At the same time, unemployment went from 7.5% down to 6.9… That tax rate stayed at 39.6 throughout the Clinton years, and the unemployment rate went steadily lower, from 6.9 all the way down to 4.2 in 1999.

    The first round of tax cuts under W came in 2001.. and unemployment rose from 4.7 to 6.0 by 2003, when we got round 2. Those have been here ever since, and unemployment did drop from 6 down to 4.6 in 2007, which period corresponded to the inflating of the bubble… then the bubble started collapsing, and unemployment began rising rapidly, even though the top tax rate remained stuck at 35% from 2003 onward.

    Can somebody explain why it's thought that lowering personal and corporate income tax rates creates employment? Workers are paid from pre-tax income, aren't they? The more a company spends on payroll, the lower its taxable income, right? In fact, doesn't lowering the tax rates actually tell a business owner that if he can find a way to lay off some workers it will save him maybe $100K and he can keep more of that savings? Whereas, raising the tax rate tells him that even if he can lay off a couple of workers, he may have to do a bunch more work himself, but since his tax rate will go higher, he won't see much of an improvement to his bottom line?

  3. The “wealthiest 1%” hires the rest of us. What jobs does he think we're willing to give up — oh, I forgot — he counts on government slavery/handouts.

  4. Wow!!! Is Mathews a bitter man or what???? Paul Ryan kept his cool, what he said made sense,but Matthews let his love for obama and saul alinskly really show through. How's that thrill up the leg doing these days, chris? Not so thrilling when you know you're gonna get your ass kicked this fall, huh?

  5. Good point dwg. Ryan is the man. Mathews just completely glossed over Ryan's points about the 250k ppl being mostly small business who file as individuals (not big corporations). Facts are stubborn things!

  6. Did anyone else catch that last line of Geitner's comments? “The country can withstand [the expiration of the Bush tax cuts], the economy can withstand that, and I think it is good policy.” Is it just me or is he acknowledging that allowing the Bush tax cuts to expire will hurt the country and the economy, but we can withstand it?

  7. Very impressed with Ryan's ability to talk specifics. I am not quite sure why Crowley had the corny grin plastered to his face. He got worked.

  8. How can any logical thinker not understand and agree with Ryan.This is why the Dems. supports the teachers union, as long as they get paid their OK with our kids not learning logic or critical thinking. They need a uneducated public to stay in power. How did we get to a point where people are not only OK with giving goverment complete controll over themselves, but craves for it? The people lost controll of the goverment long before Obama was elected, he just started running with it. We all need to realize it. Our goverment doesn't want to serve us it means to rule us! JEFFERSON WEEPS FOR US! A NATION OF COWARDS

  9. Old man time is catching up with the senile Chris Matthews. What's the deal with him forgetting which questions he asked?

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