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David Schweikert: “If you tax maximize all the proposals, capital gains taxes…”

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

Congressman David Schweikert on political future, the numbers behind Social Security and Medicare

Published May 31, 2024 | Video Starts at 09:28

And if anyone really wants to do the research, go to Manhattan Institute, Brian Riedel and look up about six, seven months ago, he did a brilliant report saying what happens If you tax maximize all the proposals, capital gains taxes, estate taxes, income taxes, you get about 1.5% of GDP. For those of us on the right, I have a whole bunch of things I want to cut out of government. I think we could do better. (09:28–09:36)

CLAIM

Asserts that maximizing certain taxes would only yield 1.5% of GDP.

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

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“The other thing that's happened in the Republican Party is you can see the leakage of well educated, particularly suburban population moving…”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 04:23-04:36
“I now have one of the best educated districts in America, one of the more prosperous and one of the more aspirational.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 04:41-04:48
“The old classic hardworking, let's call them middle class, lower middle class, tradesmen, those things which used to lean Democrat, they had…”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 04:52-05:09
“If it's nine years from now the Social Security trust fund is empty and you double senior poverty, the average couple takes a 25% cut in…”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 06:33-06:45
“If you're under 30 years old right now, under 35, actually, the math says you will not live as prosperous as you and I have.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 06:45-06:57
“All defense is borrowed money, all non-defense discretionary is borrowed money, and about a quarter of Medicare now is on borrowed money.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 08:40-08:46
“100% of the debt from today through the next 30 years is interest, healthcare, mostly Medicare.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 08:45-08:49
“Non-defense discretionary, you might be able to pull 1% of GDP out and that's $300 billion.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 09:54-10:02
“The burn rate just this fiscal year is almost 9% of the entire economy is borrowed money.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 10:06-10:13
“Baseline borrowing looks like it's supposed to be parking in around 6% of the size of the economy.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 10:15-10:23
“If you're close to borrowing $100,000 a second, $100,000 a second.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 12:42-12:49
“Raising the cap 100% only covers like 48% of the [Social Security] shortfall.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 13:16-13:24
“The driver of the debt right now is our demographics. Those of us who are baby boomers, we're moving into our earned benefits.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 14:30-14:39
“In about 15 years, the United States will have more deaths than births.”
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“Today's taxpayer, today's worker sort of pays today's beneficiary.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 15:05-15:12
“Last election cycle, I was functioning the only Republican, really, to survive even down to state legislation.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 15:32-15:41
“Fertility rates are down to what, 1.62, you know, we're starting to collapse, actually, population wise.”
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“Technology, if used right, actually can bring us together.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 23:01-23:07
“Right now it's being used to keep us separate and also keep us at each other's throats.”
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“We need to sort of rethink how we use technology and also how we block things that are propaganda, completely false.”
Congressman David Schweikert on political future, the numbers behind Social Security and Medicare | Uploaded May 31, 2024 | 23:13-23:21
“A lot of these things actually not Republican or Democrat, it's just complicated.”
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“Maybe we're at an inflection point in our society where people want to be treated like adults.”
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“Making society healthier, which actually crashes the cost of Health care crashes, the cost of government spending.”
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“Interest [on the national debt] this year will my math is about 1.2 trillion.”
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“Interest [on the national debt] the second biggest expense in the United States government.”
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“Social Security at 1,450,000,000, interest at 1.2 and then Medicare and Defense are down here at around 8,900 billion.”
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“70, 80% of that dollar you sent actually went to the text messaging fundraising firm.”
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“We refer to it as the conservative industrial complex.”
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