Memorial Day is here, a time to commemorate Americans who died serving our nation. Maybe Americans should also pause to commemorate the end of free-market capitalism and the beginning of a new form of economics Obamanomics.
i will tell you that. the problem is, new regulations and obamacare and all of this federal overreach did not allow us to grow at a rate that made a difference for the middle class and for the poor. look at the poverty statistics after this try with obamanomics. people were worse off. why did people turn to donald trump? some people say it s because he had all of this rhetoric. they actually turned to him because in america, in presidential elections, the pocketbook matters. and people felt a pinch in their pocketbook. that s true but the tax cut wound up being a farce and i hope that you hold him accountable for that. it s not a farce. it didn t target the middle class and it wasn t paid for. that s a farcical notion. but let s look at something that is clear, which is america had, on the corporate side, one of the highest income tax rates in the world. not an effective rate. not an effective rate. that s not true.
federal overreach did not allow us to grow at a rate that made a difference for the middle class and for the poor. look at the poverty statistics after this try with obamanomics. people were worse off. why did people turn to donald trump? some people say it s because he had all of this rhetoric. they actually turned to him because in america in presidential elections the pocketbook matters and people felt a pinch in their pocketbook. that s true but the tax cut wound up being a farce and i hope that you hold him accountable for that. it s not a farce. it didn t target the middle class and it wasn t paid for. that s a farcical notion. but let s look at something that is clear which is america had, on the corporate side, one of the highest income tax rates in the world. not an effective rate. that s not true. that s not true. because of the loopholes and what they have actually paid. they were about in the middle of the pack. but there was no question.
not a few brush strokes in the corner. if you look at the entirety of the plan, i have no doubt again based upon economic history that we are once again capable of 3% plus economic growth. you nomar it a we ve essentially come out of a lost decade from the years of obamanomics, so the average middle income family is probably $14,000 achieving less in income than they otherwise would have had had we had sustained 3% economic growth. that s what i hope all my colleagues will focus on and that is the tax plan built for economic growth that will bring jobs back to america, capital back to america and lead to not just more jobs but bigger paychecks and greater take home pay. maria: that s the key isn t it the wages which haven t moved in so many years. congressman good to see you sir thanks very much. happy to be here. maria: jeb hensarling joining us there. a high profile departure from the trump administration health and human services secretary tom price resigned president asked
take a small post card to fill out your taxes otoo often we know people are gaming the system. i also believe there will be genius credit for child care, and deduction of charitable and mortgage will be there but it will be built for growth, and simplicity, it cannot come at a better time. because our economy is still lackluster under 8 years of obamanomics, we need to get did going with recession weller to reform regulatory reform. tax reform is one of most program thing we can do to lift people out of of the poverty. maria: i want to point out many people see repeal and replacement of obamacare as one of the biggest tax cuts. will the tax reform package, do you believe, include a border adjustment tax.