In a strange departure from his normal approach, Left-leaning Chris Wallace fact-checked a liberal in real-time about what could be described as bad math.
During his interview, the host of “Fox News Sunday,” who usually espouses conventional Beltway phrases while having hard questions only for Republicans, challenged President Joe Biden senior advisor Cedric Richmond, about the accounting for the Democrats’ $3.5 trillion bill.
Democrats want to pass the huge appropriation through a process called reconciliation that goes around a possible U.S. Senate filibuster by Republican lawmakers.
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Despite its large price tag, “this legislation costs zero,” Richmond says about the legislation, echoing Joe Biden, who has said that the Build Back Better plan “adds zero to the debt.”
Richmond then said the “we are going to pay for everything by increasing taxes on the very wealthy and large corporations….”
This led Wallace to jump in with a question about the balance-sheet: “Mr. Richmond, I have got to stop you there. It does not cost zero. Whether it is 3-1/2 trillion or 1-1/2 trillion, it costs that amount of money. Now, you can pay for it by borrowing the money, or you can pay for it by increasing taxes on companies and the wealthy, but it does not cost zero.”
Along with pushing the $1.9 trillion American Rescue Plan Act that lawmakers passed previously this year, Richmond replied that it was former President Donald Trump’s fault.
“In the end, it will cost zero because we will pay for it. Now, if you look at the Donald Trump tax cuts, which were not paid for, they cost billions. But we are going to pay for everything we use here. And that is not including the benefits and gains we will get from the changes. We know what we are doing….”
“But again, I just want to mention this,” Wallace continued, “because a lot of people say your math is wrong and that it won’t add zero. You could make the argument that it will add zero to the debt if you pay for it, but that does not mean that it costs zero. You are really just raising people’s taxes.”
Author: Steven Sinclaire
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