WATCH Pelosi Gets Owned Over ‘Crumbs’

A college student confronted House Minority Leader Nancy Pelosi at an on-campus event sponsored by Georgetown University’s Institute of Politics on Tuesday, challenging her rhetoric referring to the GOP-passed tax cuts and related bonuses as “crumbs.”  Other Democrats have followed suit, sneering at the tangible benefits being experienced by everyday American families — all thanks to a law that people like Pelosi wrongly predicted would inflict “Armageddon” on the US economy and trigger “the end of the world.”  The student, who identified himself as freshman from Virginia, relayed his family’s positive experience with tax reform and pressed Pelosi on whether she would stand by her dismissive formulation.  Via the NTK Network, watch: (Above)

“You’ve spoken about the effects of the Republican tax plan, specifically referring to its effects on average Americans as crumbs,” the student said. As the son of small business owners, I know that it’s helped my parent hire more employees. It’s helped us pay off our mortgage, helped put me through college…Would you still refer to the effects of this tax plan on average Americans as crumbs?”

Pelosi conceded that some people are benefitting from the new law, but referred to the economic arguments in favor of the Republican policy as “BS.” She also made the following claim: “Here’s a tax bill that they advertise as a benefit for the middle class, and did you know 83 percent of the benefits of the tax bill go to the top one percent? …In the life of the bill, 86 million middle class families will pay more taxes.”  The first part of that statement is flat-out false.  The second, carefully-parsed attack is deeply misleading.  Let’s unpack each element.  It’s simply wrong to say that 83 of the new law’s tax benefits go to the top one percent.  Here’s the truth:

Brian Riedl of the Manhattan Institute points out, “The bottom 80 percent of families currently pay 33 percent of all combined federal taxes, yet will get 35 percent of the tax cuts. By contrast, the top one percent currently pays 27 percent of all federal taxes, but will get just 21 percent of the tax cuts. This means the share of all federal taxes paid by upper-income earners will slightly rise.”

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