adviser to covid act now. sabrina, let s just dive in on this. number one, let s talk about the substance of this legislation. you know, this is very progressive. it s not just this patchwork of, you know, people are struggling in america and let s get them money, but it is specifically, you know, let s get parents money because of their children. this is something that has been done in other countries, never really in america until now. can you speak to that and just what this offers up americans? well, i think that s what you heard the president speak to in his remarks just now talking about the substance of the bill. now, some of this is, of course, the immediate relief that the administration felt was necessary in response to the coronavirus pandemic like another round of stimulus checks, $1,400 direct payments that will start going out as soon as this weekend and continue to roll out in the coming weeks, but there is also an expansion of the child tax credit for anothe
president to say, the best minds that studied the issue and we ve gotgñ to raise taxes on the american people. what drives me crazy is there are people across the country, 535, elected to do what this commission is being asked to do. their needs to be a focusing of the mind and attention on this issue. it is hard for people to swallow that all of a sudden they are so concerned about deficits when they just rammed through the health care bill. sean: raising taxes the ultimate recommendation i think comes out of this is going to result in lower tax revenue for the government. if they would cut taxes would it stimulate the economic activity. only if they raise income taxes. if they create the value added tax, the hidden sales tax, huge. sean: it is a revenue gusher, doesn t it take money out-of-pockets of people that would be investing and creating jobs? of course it does. private economy gives it to
president to say, the best minds that studied the issue and we ve gotgñ to raise taxes on the american people. what drives me crazy is there are people across the country, 535, elected to do what this commission is being asked to do. their needs to be a focusing of the mind and attention on this issue. it is hard for people to swallow that all of a sudden they are so concerned about deficits when they just rammed through the health care bill. sean: raising taxes the ultimate recommendation i think comes out of this is going to result in lower tax revenue for the government. if they would cut taxes would it stimulate the economic activity. only if they raise income taxes. if they create the value added tax, the hidden sales tax, huge. sean: it is a revenue gusher, doesn t it take money out-of-pockets of people that would be investing and creating jobs? of course it does. private economy gives it to
that road. we look more and more like europe. do you really believe that democrats and republicans, americans will put up with a vat in america? yes. here s how it will work. the president has appointed a commission, a deficit reduction commission. it s bipartisan. alan simpson, republican is on this commission. it reports in december. they ve got to come up with some kind of revenue gusher and this is the way to do it. and the president and the democrats can say it wasn t us. it was the commission. the commission simply had to do it. there s no way in this bipartisan debt commission that they re going to allow a vat tax and not also say that you have to control spending. the way they ll control spending is to cut the level of benefits especially in something like social security. raise the retirement age. tax people more. and maybe do some things similar with medicare like big co-pays so they ll cut there.