Housing is up, and health care. It seems to me we could have thought about a better use of this money then giving 39 americans 1 of making over 1 billion a year. By the way, year after year after year. Thats why this is so huge. Meeting with some of my colleagues that President Trump called into. Im not saying anything that already hasnt been put in newspapers. One thing he said was how terrible he said this plan is for the rich. I dont refer to people that way , but he had to throw in that the rich would get something. We know theyre getting 68,000 on average, as a result of this plan, where as people, 90 Million People, not 570,000 people, are earning salaries of 50,000 or less who have been talked about here today, getting on average 160, seven dollars and . 50 a paycheck. Im telling you, i dont know what its like in other states, but colorados farmers and ranchers will not be fooled by talking about percentages and rates. Y are going to have money they will see that 39 billion , a
[inaudible conversations] [inaudible conversations] okay, lets go. Senator bennet we will turn to you. Mr. Chairman. It just seems to me was close to a quarter million americas children living in poverty and im sorry im calling up amendment 11. With almost a quarter for children living in poverty and the middle class struggling with lack of wages Early Childhood education is up and health care is up, that it seems to me we could have thought about a lot better use of this money then giving 39 billion to 1 of americans that are making over a Million Dollars a year and by the way its year after year after year. Thats when the deficit is so huge. Its year after year after year. I was at a meeting with some of my colleagues and President Trump called and im not saying anything that hasnt already been put in the newspapers but one of the things he said on the phone calling from asia was how terrible he said this plan is for the rich. I dont refer to people that way but he said turbo for the
Power lunch starts right now good day, everybody. Welcome to power lunch. Im Tyler Mathisen as michelle just highlighted, the dow and s p 500 hitting records again. But we are well off those levels at this hour nasdaq basically getting slammed. Down more than 1 . Big selloff in tech. Check out what is leading that nasdaq 100 lower Lamb Research down so auto disk down 15 now applied materials, invidia also in the tank today. In fact, the whole Semi Conductor industry on pace for its worst day in almost a year more on this group coming up forget ten, folks. Lets move on to 11,000. Bitcoin breaking past 11,000 just hours after topping 10,000 for the first time ever. Everybody is talking about bitcoin. Crypto currency up more than 30 in the past week and now up well over 1,000 this year, brian. Its like an auction. Do i hear 12,000 im Brian Sullivan heres what else is happening at this hour. Tyler drilled down on bitcoins record run the nasdaq planning to launch Bitcoin Futures next year.
Those who are at the lower end of the economic scale, and i think thats appropriate. So its middleclass tax relief but heres how it works. The share of federal taxes paid in 2019, which is a year after this is implemented, it starts right away, by the way, so middleclass families are going to get that relief right away. Currently is in the red and then our proposals in the blue. If you make, again, zero to 20,000, its very unlikely that you have income Tax Liability. But some families do and the average is. 1 . If you make 20,000 to 50,000 a year, your share of federal taxes goes down from 4. 3 to 4. 1 , in our bill. If you make 50,000 to 100,000, your share of the federal taxes goes from 6. 9 to 6. 7 . If you make 100,000 or above, your share goes not down. It goes up. From 78. 7 to 78. 9 . The top percent of wage earners in this country, earners, top 10 pay approximately 70 of the income taxes right now. After our bill is passed and implemented, they will pay more than 70 . So it is
Talk about the swamp. All the folks out there that voted in this election do not have a swamp in washington, d. C. , are watching this happen right in front of their eyes tonight. We have a bunch of amendments that were dropped in by lobbyists here last night. We havent seen except we got a list from them, and we have got ill legible amendments now at the desk that the american even if we could read them, we wouldnt be able to. It just doesnt make any sense. I tell you Something Else that doesnt make any sense. It doesnt make any sense that in our economy, 90 of our folks, the bottom 90 earn the same amount of income as the top 10 . The top 10 earn 50 of the income in this country. The bottom 90 earn the other 50 . And you can see the directions that these lines have headed over a number of years. Thats the issue that we confront in our economy. Thats what we all should be working on in a bipartisan way to try to address. Unfortunately, instead of improving the circumstances for people