Chris Wallace on Fox News Today was interviewing Steve Mnuchin, President Trump's Secretary of the Treasury this morning. For those of you who feel that Fox News is one sided in their outlook and a cheerleader for DJT, I would remind you that there are exceptions to every rule, and in Chris Wallace, I offer you at least one exception.
1) On the topic of the Republican tax cut passed at the end of last year. Wallace reminded Mnuchin
that he and the President both promised Americans that most of the benefits of the corporate tax reductions would go to the workers. Then he showcased a recent study which clearly showed the bulk of the benefits from S&P 500 Companies have gone to shareholders, as summarized below:
Mnuchin said it was still early and stock buybacks were not an equivalent comparison and were a good thing because they get recycled into the economy. He's right of course, they get recycled in to the economy, right into the pocketbooks of those lucky enough to own stock portfolios, i.e. the rich get richer, workers get screwed over, and Steve Mnuchin, the President's spokesman on the tax cut, lies....again.
2) On the topic of the President's recent signing of the budget bill, which left many of the President's own base extremely unhappy, Mnuchin complained that the President wanted a line item veto on the budget. Wallace politely pointed out to Mnuchin that the Supreme Court ruled that the line item veto was unconstitutional, to which Mnuchin replied that Congress could pass a rule that allows them to do it.
This is where it got ugly.
Wallace then attempted to educate the Secretary on the meaning of the word 'unconstitutional', informing the Secretary that he would need a Constitutional amendment to pass a line item veto
And Mnuchin replied, "I don't want to get into a debate Chris, there are different ways to do to this."
No, Sir, there aren't. You need a constitutional amendment. Period.
Lies and stupidity, on display by Secretary Munchin, again, courtesy of the best and brightest of Fox News.
Thank you Mr. Wallace. Your father's legacy on 60 Minutes, always in search of the truth, was in full view this morning on another network. I am sure he was watching and was proud of his son, again.
1) On the topic of the Republican tax cut passed at the end of last year. Wallace reminded Mnuchin
that he and the President both promised Americans that most of the benefits of the corporate tax reductions would go to the workers. Then he showcased a recent study which clearly showed the bulk of the benefits from S&P 500 Companies have gone to shareholders, as summarized below:
- $5.2 Billion to employees on higher wages and bonuses
- $157 Billion for stock buybacks
Mnuchin said it was still early and stock buybacks were not an equivalent comparison and were a good thing because they get recycled into the economy. He's right of course, they get recycled in to the economy, right into the pocketbooks of those lucky enough to own stock portfolios, i.e. the rich get richer, workers get screwed over, and Steve Mnuchin, the President's spokesman on the tax cut, lies....again.
2) On the topic of the President's recent signing of the budget bill, which left many of the President's own base extremely unhappy, Mnuchin complained that the President wanted a line item veto on the budget. Wallace politely pointed out to Mnuchin that the Supreme Court ruled that the line item veto was unconstitutional, to which Mnuchin replied that Congress could pass a rule that allows them to do it.
This is where it got ugly.
Wallace then attempted to educate the Secretary on the meaning of the word 'unconstitutional', informing the Secretary that he would need a Constitutional amendment to pass a line item veto
And Mnuchin replied, "I don't want to get into a debate Chris, there are different ways to do to this."
No, Sir, there aren't. You need a constitutional amendment. Period.
Lies and stupidity, on display by Secretary Munchin, again, courtesy of the best and brightest of Fox News.
Thank you Mr. Wallace. Your father's legacy on 60 Minutes, always in search of the truth, was in full view this morning on another network. I am sure he was watching and was proud of his son, again.
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