December 20, 2017

On NBC's Today Show, Savannah Guthrie does a pretty good job this morning pinning down House Speaker Paul Ryan on his Ayn Randian tax cut hocus pocus. Of course, it's hard to swat back that many lies.

Ryan gave his pep talk about how the bill will slash corporate tax rates (which are already reasonable), increase competition and stimulate the economy.

Guthrie asked about the meeting Gary Cohn had with business leaders who have said that tax cuts won’t necessarily make them reinvest in the country, and also quoted Michael Bloomberg:

“CEOs aren’t waiting on a tax cut to “jump-start the economy” — a favorite phrase of politicians who have never run a company — or to hand out raises. It’s pure fantasy to think that the tax bill will lead to significantly higher wages and growth, as Republicans have promised. Had Congress actually listened to executives, or economists who study these issues carefully, it might have realized that.”

She asked Ryan, “Are you living in a fantasy world?”

Ryan did a little tap dance and insisted that "surveys indicate" that most business chiefs will reinvest in their workers and stimulate higher wages.

We'll all just sit here and hold our breath, Paul.

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