by the Dump Bachmann Transcription Service
MB on KTLK 4-10-8 with Jason Lewis
JL: And we are back on the 2008 Tax Cut Rally Preview Show. I am Jason Lewis, America’s Mr. Right, along with America’s Mrs. Right, Congresswoman Michele Bachmann joins us. Congresswoman, are you gettin’ ready for Saturday’s big tax cut rally?
MB: I am ready, I’ve got my gloves on, I’m duked up, I’m pumped up. I’m gonna be there because for lovers of liberty and prosperity this annual tax rally, Jason, is a must-do event of the year.
JL: And you are a veteran, I mean you’ve been here from the beginning, as a member of the state Senate, as a member of Congress, and, and last year we had such a wonderful turnout, got national attention. Given what’s happened in Minnesota, amongst your former colleagues in St. Paul, and what’s going to happen if the Democrats, uh, gain in majority status in the House of Representatives, in the U.S. Senate as well as the White House, this is going to be the greatest assault on the taxpayer in my adult life.
MB: It is the greatest assault. Not only did the Democrats in Minnesota raise taxes on the Minnesota taxpayers, over 7 billion dollars and counting, here in Washington D.C., uh, we just took a vote on the Democrat budget bill and they are going to increase taxes nationally 683 billion dollars. That’s jaw-dropping, as well as an additional 70 billion dollars for alternative minimum tax.
JL: It really is quite jaw-dropping when you consider this because our Tax Cut Rally this Saturday, high noon in St. Paul, capitol steps as always, is not just about Minnesota state taxes, it’s about the assault from the federal level as well. And you consider just letting the Bush tax cuts expire, you will, you know, double the capital gains tax, you may end up tripling the dividends tax, and now Charlie Rangel wants to add a surcharge on top of that. Barack Obama is running to increase the, uh, taxes on social security wages. I mean, not only is it of course morally objectionable, you want to talk about something that’s going to kill the economy overnight, this is it.
MB: Well and it’s like they’re playing poker with each other, saying, I’ll see your tax increase and raise it another. Because not only all of the expired tax cuts which would increase dramatically the tax burden on the average Minnesotan, just this new budget bill alone from the Democrats would come out to over three thousand dollars for the average Minnesotan additional.
JL: That’s an amazing figure. I mean that is just absolutely astounding because I’ve, I’ve heard of the Bush tax cuts being expired, or their expiration causing a tax increase of upwards of a thousand dollars per family, you throw on the Democrat increases being contemplated, you know, to fund their budget, and this thing’s totally out of control. You know what’s fascinating about this, Congresswoman Bachmann, is here we are in this housing crunch because of the government-engineered housing boom, bubble if you will, and now we need an economic growth model to get us out from under this recession, yet the fed inflating the economy – this is stagflation all over again. If you have these massive tax increases, massive budgets, as well as the federal reserve in my opinion whose monetary policiy’s too easy, trying to bail out Wall Street, it’s Jimmy Carter redux.
MB: We, we couldn’t come up with a worse formula right now, Jason, especially when you look at the increasing crisis on energy and on groceries. Americans and especially Minnesotans are feeling it from every corner. This is very solvable, but it’s – the way you do that is you cut spending and you cut taxes. And that, that’s why I’m so happy you’re doing the rally on Saturday. I can’t wait to be there. I’ll be there with boots on and bells on because we’re going to have the biggest rally ever because Minnesotans are saying, we are not putting up with this scam anymore. We’re the ones in charge, and we’re gonna go forward and take charge and we’re not gonna stand for these tax increases.
JL: Of course the Democrats here in St. Paul as well as in Washington D.C. where you do your work, and very good work, I might add, uh, they say, we’re just gonna raise taxes on the well-to-do. You know, the Charlie Rangel surcharge, it’s just gonna be the well-to-do. The social security increase, just the well-to-do. The Amy Klobuchar says, just the one percent.
MB: (laughs) Well, the top one percent is paying about 24 percent of all taxes. So I think they’re, they’re, more than paying their fair share, they’re being raked over the coals. But what they mean by well-to-do now is a cop married to a nurse. Because –
MB: -they have to go everywhere in order to increase their base. They have to broaden their base to bring in more money, because they, they basically are obese right now, with tax, ah, increases and they’re looking for more.
JL: When you look at that Democrat budget you just described, raising taxes just on the top one percent doesn’t come anywhere close to meeting the revenue targets, so obviously when they say the top one percent, they mean the top five, the top ten percent, now you’re right, you’re a middle class family both makin’ 50 thousand dollars a year, all of a sudden you are the über-rich. And I don’t know what-when these people are gonna learn. I don’t know how many capital gains tax cuts that have to elicit more revenue, I don’t know how many cuts in the top marginal rate that have to elicit more revenue, before these liberal Democrats, get, get the uh, the uh, you know, axiom here, that if you cut taxes on the highest income earners, government gets more money.
MB: Well you know and your listeners know that if you increase taxes on people, people will change their behavior. Democrats don’t like to believe that, they believe that people’s behavior is static, but when they increase people in a punitive fashion, people make changes, and we’ll see reduced revenues into the treasury, and there’s recent studies to verify that, that if Democrats go forward and increase taxes, we will in fact reduce revenue.
JL: In fact Sen. Charles Grassley, your colleague over in the Senate, wrote a letter to the CBO not long ago saying, what, what’s the response or what’s been the dynamic behavior coming out of the capital gains tax cut, 28 to 20 percent, of which they now want to at least double in the Democrat propo- oh, the CBO of all people said, yah, you’ve got more revenue than you did at the higher rate.
MB: (laughs) The, the thing is, there are tax cuts that generate revenue. Clearly the tax cuts on capital gains and dividends are revenue raisers.
JL: And those are all good reasons in a macroeconomics sense, Congresswoman Bachmann, but in the final analysis, whether the government’s budget goes up or down really isn’t the primary concern--
MB: That’s right, that’s right.
JL: We don’t cut taxes to grow the government, we cut taxes because it’s the taxpayers’ money.
MB: That’s exactly right, and that’s why I’m so grateful for this tax rally, because the whole focus of the Minnesota tax rally is to pursue liberty and to pursue prosperity for the individual. That’s why, I know Jason, we’re gonna be busting at the seams on Saturday because in force, all across the Sixth Congressional District as well as the other eight districts I know are gonna want to have a point of focus where they can register their displeasure with out of control government spending.
JL: Thanks again Congresswoman Bachmann, we’ll see you Saturday. It’ll be a big day Saturday, high noon on the capitol steps, that’s this Saturday. When we come back, Phil Krinkie will join us. Jeff Davis of the Minnesota Majority and some other local groups on what they’re planning for this year’s 2008 tax cut rally on the capitol steps. Our preview continues on 100.3 K-talk.
The Taxpayer's League encouraged people to come to the rally to pick up these signs:
Monday, April 14, 2008
by the Dump Bachmann Transcription Service