Trump ally Steve Bannon is warning that House Republicans would vote in favor of “massive” tax cuts for the wealthy and corporations while also voting to increase defense spending in a strategy doomed to push the nation even deeper into debt.
Bannon, who has long promoted taxing wealthy individuals and corporations, said the leaderhsip of the key committess will vote that way.
“You watch – every one of them wants increased defense,” he told podcast guest Republican Representative Chip Roy of Texas Tuesday.
“They want to get to a trillion dollars as quickly as possible, and they’re [also] going to vote for massive tax cuts for the wealthy, for the billionaires and corporations,” Bannon said.
Bannon is a staunch ally of President-elect Donald Trump. But Trump slashed corporate taxes a massive 40 percent his first time in the White House, and passed other cuts and tax modifications that benefited the wealthiest Americans.
Bannon, on the other hand, has pushed for for tax increases on the wealthy in order to shave the U.S. deficit.
Bannon has argued that balancing the budget is impossible withnout tax increases on corporations and the wealthy.
“If the ox has got to get gored, it’s got to come out of the wealthy. It’s got to come out of the billionaire class,” he stated last week on his podcast. “It cannot come out of the middle class. It cannot come out of the working class. No, no, no. Can’t do that. It’s hard enough to get by today.”
