let s go to the stock market. there are polls that show maybe some americans don t like that, but look at what it s doing to the stock market already, and most americans do own stock no, they don t. 45, about 45% of americans have 401(k) s. a lot of americans have it and they think it s a good thing. this is a tax cut for all americans. some americans are rich and you are right, some americans will get a tax cut. there is a lot of working single mothers that will get a tax cut as well. there s average american hard-working people making $70,000, and they will get more than $2,000 a year in tax cuts. why is that a bad thing? i would love to go home and defend this. and last point on this and then i will be quiet. look, i understand there are some polls that say some americans don t support this, and that s not what i am hearing back home. when i go back home i hear from people all the time, thank you for letting me keep some more of my money, and that s the ones that matter to m
unfortunately, we are running out of time. i will just say we heard the treasury secretary saying the wealthy will not get a tax cut at all, and you agree that was not true, that proved not to be true, and they are getting a rate cut when you take away the estate tax, the wealthy are getting a tax cut, and in fact, most of the tax cuts go to them. there was a point by the way, i supported this and still do and it was not included in this, but i didn t want to give the tax cut to the upper bracket and i think mr. mansijoe manchi talking about that. why did you? why are you supportive of something because there s no such thing as a perfect bill. there are things in every bill that i don t necessarily love, but you have to take it in its entirety, and in its entirety, this is a great bill and i support it. great to have you with us. thank you so much, sir.
now. the banks, goldman sachs put out a study that said basically, what, seven larges banks on average will reinvest in themselves and wages may not go up. how much of what people feel over the neck year will matter in the overall political calculation here, which is to say if the middle class doesn t feel a tax cut or if they do feel it, how much does that matter? i learned my lesson in politics, the perception of how people feel something is working matte matters way more than how it is working? with health care you are changing something that affects a lot of people daily. with tax cuts you are saying do you like more money, even if it s a dollar more. i do it all the time, i think,
well connected. no tax cut for the upper class. that s not true. the rhetoric doesn t match the rhetoric and never will. the wealthy and well connected will do more than just fine, and the short form filers are going to double their deduction. a lot of people in the middle class are going to benefit from this. he told something partly true and largely untrue, and you put them together and people believe wh whatever they want. the wealthy who can take their winnings quietly and walk away, and they don t care the president may have lied about it. it s going to be tricky. chris was right a few minutes ago, it s going to be tricky for the democrats to thread the middle and make the case that those folks are making out like bandits. yes, you got a bigger deduction but you will have increases in your health care deductions and pay more taxes ten years from
will say this, i want to get it by the end it was year but i would be very disappointed if it took that long. they will send the bill back to the house. people go and make 200 suggestions as opposed to maybe no suggestions, because it s a great bill. it s going to be a great bill. and we re adjusting. we re adjusting so that there s no way that the middle class doesn t greatly benefit. every once in a while there s a method under which, you know, it could be that some people in the middle class won t benefit as much as we want them to benefit, and we re making certain adjustments, but i think we re going to have it sooner rather than later. paul ryan did an interview this week and said you are insisting that they have a fourth bracket. it is on your insistence that they have a fourth bracket. i know you are very focused on the middle class. but do you want to raise taxes on the rich for the fourth bracket? well he really said that on the basis that i wanted it or was thinking about