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David Schweikert: “Almost just slight of $400 billion tax hikes [are coming].”

Featuring: David Schweikert, Republican | U.S. House, Arizona, District 1

3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America.

Published May 21, 2024 | Video Starts at 10:10

And as you know, tax rates go up next year. It's already the law. So one of the great battles going into 2025 is you have Almost just slight of $400 billion tax hikes [are coming]. So for our average family in the Phoenix Scottsdale area, it's probably $1,800 family of four, 1800 dollars in additional income taxes coming. And that's already the law. (10:10–10:19)

CLAIM

Asserts that nearly $400 billion in tax hikes are forthcoming.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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David Schweikert

“Interest this year will be about 1.2 trillion.”
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“CBO's number congressional budget Office is at the end of those 30 years from now we have 143 trillion and borrowed money.”
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“In about eight or nine years senior poverty will double because the Social Security trust fund will be gone.”
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“In nine years, 10 years when the Social Security trust fund is empty and seniors are about to take a, you know, 22, 23, 25% cut in their…”
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“What the Democrats did in their first two years of the Biden administration when they controlled the government, is this sort of planned…”
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“Inflation Reduction act, which is Orwellian name.”
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“Every dime of defense is unborrowed money. Every dime of non defense discretionary, the Park Service, the epa, the State Department, all…”
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“3, 4, $500 billion of Medicare is on borrowed money.”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 07:15-07:20
“United States taxes, every single tax will have to have been doubled just to maintain baseline services.”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 08:50-08:59
“Tax rates go up next year. It's already the law.”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 10:06-10:11
“For our average family in the Phoenix Scottsdale area, it's probably $1,800 family of four, 1800 dollars in additional income taxes coming.”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 10:18-10:32
“We also only believe we have about three to five years to make these changes and then you're in the debt grind cycle.”
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“People are really expensive in government. It's not only the salaries, it's the healthcare, it's the pensions.”
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“Government workers aren't necessarily productive in the way of growing the economy.”
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“You could actually crowdsource [environmental data] instead of having the EPA doing some of that.”
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“Businesses have dramatically less burden [with crowdsourced environmental data].”
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“There's an army of bureaucracies and some lobbyists who battle every time I try to do these types of bills to stop it.”
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“The government regs create contracts.”
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“If you took four people making $400,000 and up, and you did this thing called tax maximization, you can get about one and a half percent of…”
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“What the Biden administration has allowed at our border is waves and waves of very moderate to low skill individuals crossing the border.”
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“Primary driver of US debt is our demographics.”
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“In 15 years, the United States has more deaths than births.”
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“For every dollar you put in [to Medicare], our estimates are that a retiree today will get about $5 back.”
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“That right there is the primary driver of US debt.”
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“Every dime of foreign aid is like a week's worth of borrowing.”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 30:32-30:36
“If you live in the Phoenix Scottsdale area and you're not making 26% more today than you did the day Joe Biden became in office, you are…”
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“One of the greatest threats to our country right now is the bond markets because we have to borrow so much money.”
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“The math is so dystopian that it forces [politicians] to have to think about things that they don't know how to go home and tell their…”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 35:48-35:58
“This is the driver of debt because they want to believe it's not taxing enough rich people or it's foreign aid or this and that, and none of…”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 36:02-36:12
“The conservative industrial complex, which makes a lot of money on not necessarily telling us the truth.”
3 Trillion Borrowed. Rep. Schweikert on How A.I., Healthcare & Immigration Reform Can Save America. | Uploaded May 21, 2024 | 36:32-36:42