and ankle biting i don t know where that thing comes from when we put this program in place, when president trump ran on this in 2016, kevin hastert and i and laugher and so fourth worked on it, we believe that the tax cuts for corporations, large and small, the marginal tax rate reductions, now down 21 % for companies, large companies, that s 19% for small companies. the biggest beneficiary would be ordinary working folks. the blue collar and that is precisely what the data is showing. maria: larry let me ask you this i don t know where they re getting this. maria: congressman kevin brady the clip of house ways and means joined me last week and he s working on an additional tax cut that the president wants to cut taxes by the middle class by 10% and if the economy is going so great why do you have to cut taxes again? well look, i think the
taxes? i would propose, this is my own opinion, i would think 83% of the tax cut went to the top 1 %. maria: that s not true though, congressman. for ever no it s what all of the analysts are saying all of the data that i ve read so keep the middle class tax cuts. keep tax cuts for small business , keep tax cuts for entrepreneurs, keep tax cuts that incentive size, research and development into new sectors of the economy like wind and solar and everything else, but there s no way at a time of maximum profits, maximum corporate profits maximum income inequality that we should be giving tax cuts to the top 1% i ll tell you why because next year, we ll have a $1 trillion deficit. maria: right. we re borrowing this money from china, putting them in a position of strength. we re in a position of weakness, because we gave it to the wealthy not because we hate wealthy people. maria: but the thing is they cut
permanent for the personal taxes , which would include small business, very important and i think kevin brady is exactly right. we are noodling about an additional 10% middle class tax cut, just noodling, looking at different plans. maria: okay. we will see but look, the great story of 2018, you said it i think in the break. maria: right. the economy is stupid. we are growing, you know, 3.5% in q3, 4.2% in q2, 3% overall, and my friends on the other side of the aisle said you couldn t beat 2. we re now beating 3. maria: absolutely. this is the biggest single story of 2018. maria: another big story is how china has been behaving, they ve been stealing from us for decade s and now there s a report , larry, that says that it s a report that says that now china is considering buying oil from the united states versus iran as part of a larger trade
blue collar workers take a look at the numbers. the employment increase is largely centered on blue collar workers they re the big winners, fastest since the 80s and they are the ones experiencing the largest wage gains, blue collar workers have beaten white collar workers. maria: right. nothing against white collar workers i m just saying this is reaching down deep into the blue collar area precisely what we wanted, with our supply side tax cuts across-the-board and the re regulation of the presidents program, including energy. maria: you just heard democratic congressman tim ryan from ohio on this program right and he said 83% of the tax cut plan went to the top 1%. what s your answer to that? i pushed back a little bit. i don t know where mr. ryan gets that number. i have respect for him, he is rather more moderate democrat but those kinds of knit picking