Thomas Phippen on December 20, 2017
House Speaker Paul Ryan had a tough time on the “Today Show” Wednesday when host Savannah Guthrie asked if he was “living in a fantasy world.”
Guthrie quoted businessman and Democratic mega-donor Michael Bloomberg to ask Ryan whether believing corporate tax cuts will lead to growth was ridiculous, before interrupting him multiple times.
“Let me quote Michael Bloomberg, no enemy of business,” Guthrie said. “He said, ‘CEOs aren’t waiting on a tax cut to jump-start the economy, a favorite phrase of politicians who have never run a company… It’s pure fantasy to think that the tax bill will lead to higher wages and growth.’”
Bloomberg made those comments in an op-ed where he called the GOP tax plan a “trillion dollar blunder,” and said businesses don’t need more money but have record cash reserves.
“I’ll ask you plainly, are you living in a fantasy world?” Guthrie asked Ryan. Once Ryan started answering the question, Guthrie jumped in.
“I would compare that anecdote to surveys of the businesses, the national business manufacturers that show the majority of businesses will do what we say, reinvest in the workers, reinvest in the factories, pay people more money, higher wages,” Ryan said, and Guthrie interrupted saying, “let me pin you down on that.”
Ryan continued a moment, saying, “workers benefit on this through higher wages. It’s not a question of if it will happen, it’s a question of when.”
Guthrie then interrupted Ryan several times to “drill down” on whether corporate leaders were planning to reinvest profits into growing businesses.
The House and the Senate passed a landmark tax cuts and reform bill Tuesday, getting the legislation closer to President Donald Trump’s desk.
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