David Schweikert: “Another 36.5% [of income tax] is net interest.”

“If you actually take every dime of income tax and you add it up, this year, 36.9% of all income tax will go just to cover Medicare. And then you add in Another 36.5% [of income tax] is net interest. If you want to be honest, you do the gross interest, which is closer to 40%. So start to think about that. In this year, almost all the income tax is consumed by interest in Medicare.” (18:03–18:10)

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.