During a CNN debate with Senator Ted Cruz (R-TX) on Wednesday, Senator Bernie Sanders (I-VT) agreed with the plank in the Republican tax plan that calls for doubling the standard deduction, and said, “We can lower taxes” on small businesses.
Sanders stated that small businesses are “struggling” with their taxes, “And we want to help small businesses.” He added that 80% of the GOP tax plan’s benefits would go to the top 1% of income earners.
Cruz countered that Sanders didn’t mention any taxes he would cut, and is content with simply giving small businesses a government check.
Cruz then asked Sanders about the plan’s doubling of the standard deduction. Sanders responded that doubling the standard deduction is “a good idea.” He added that he’s against repealing the individual exemption and doing so would mean larger families end up paying more in taxes.
Cruz then questioned Sanders on whether he supports the plan’s cut in small business taxes. Sanders responded that the plan as a whole has to be examined and asked Cruz if he thinks lowering tax rates for the highest income earners doesn’t make sense. Cruz answered that he doesn’t agree with that assessment.
Sanders turned back to small businesses, and stated that we should “support small businesses.” Cruz responded that this simply means giving them a check. Sanders countered, “I don’t want to write them a check. We can lower taxes.”
Sanders then told Cruz to work with him on a tax plan where 80% of the benefits go to the working and middle class.
Cruz responded that the tax plan Sanders campaigned on in 2016 didn’t lower taxes on small business, and actually increased them. He also said Sanders’ tax plan didn’t increase the standard deduction.
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