Transcript: Congressman Brian Baird & Comptroller David Walker clip (do tax cuts pay for themselves?

Transcript of a clip that Thom played of Congressman Brian Baird asking Comptroller David Walker if tax cuts pay for themselves.

Congressman Brian Baird and Comptroller David Walker, clip played on 03 August 2007 show

[Brian Baird] Did the tax cuts that we've seen over the last number of years pay for themselves?

[David Walker] Absolutely not. Very few tax cuts pay for themselves.

[Brian Baird] We can quote you on that as 'Absolutely not'?

[David Walker] Absolutely not.

[Brian Baird] So there's the...

[?] Absolutely they can quote you as saying, 'Absolutely not'.

[David Walker] Absolutely you can quote me as saying, 'Absolutely not'.

[Brian Baird] So if we've seen a decline in the deficit, the decline in the deficit is not a direct result of the tax cuts.

[David Walker] As Dr. Orszag [Director, Congressional Budget Office] said before, some tax cuts recapture, you capture part of the costs of some tax cuts, but the the type that we've seen recently, they do not pay for themselves. And that's primarily due to economic growth, which is why we're seeing revenues go up. I think it's important for you to understand is, if we have any inflation at all, if we have any economic growth at all, revenues are going to go up, if you do nothing. The question is, are they higher than otherwise they would have been, had the action not been taken?

[cross talk]

[Brian Baird] ... the answer to that question is?

[David Walker] And the answer is?

[Brian Baird] You said the question is, are they higher...

[David Walker] They don't pay for themselves, so no, they are not higher than they otherwise would have been had the action not been taken.

[Brian Baird] Thank you.

The Washington Post Reveals Cracks in Healthcare

Thom plus logo The sales pitch by so-called "moderate Democrats" and Republicans who take money from the insurance companies is that people "don't want to get kicked off their existing employer-provided health insurance plans." But workers don't make the choice of plans, their employers do.

Latest Headlines

Who rejected United States-North Korea peace talks?

There were conflicting reports on Sunday regarding a recent proposal for United States-North Korea peace talks which was allegedly made before North Korea"s recent nuclear test

U.K. Pound Falls As Markets Get Brexit Jitters

Bloomberg said on Monday the pound had sustained its biggest fall against the dollar in 11 months

Clinton: I'll defend Israel but push for 'two-state solution

Hillary Clinton believes both Republican candidates Donald Trump and Ted Cruz "missed the mark" with their approach to the Israel-Palestinian Arab conflict
From Screwed:
"Once again, Thom Hartmann hits the bull’s eye with a much needed exposé of the so-called ‘free market.’ Anyone concerned about the future of our nation needs to read Screwed now."
Michael Toms, Founding President, New Dimensions World Broadcasting Network and author of A Time For Choices: Deep Dialogues for Deep Democracy
From The Thom Hartmann Reader:
"Never one to shy away from the truth, Thom Hartmann’s collected works are inspiring, wise, and compelling. His work lights the way to a better America."
Van Jones, cofounder of and author of The Green Collar Economy
From The Thom Hartmann Reader:
"Thom is a national treasure. Read him, embrace him, learn from him, and follow him as we all work for social change."
Robert Greenwald, political activist and founder and president of Brave New Films