{"id":1407220,"date":"2022-03-29T12:30:35","date_gmt":"2022-03-29T16:30:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1407220"},"modified":"2022-03-29T12:30:48","modified_gmt":"2022-03-29T16:30:48","slug":"cnbc-host-cuts-off-biden-adviser-for-budget-deficit-demagoguing","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cnbc-host-cuts-off-biden-adviser-for-budget-deficit-demagoguing\/","title":{"rendered":"CNBC Host Cuts Off Biden Adviser For Budget Deficit \u2018Demagoguing\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcnbc-host-cuts-off-biden-adviser-for-budget-deficit-demagoguing%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1407220&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>CNBC\u2019s Joe Kernen cut off one of President Joe Biden\u2019s White House advisers Tuesday for budget deficit \u201cdemagoguing\u201d after the administration laid out a budget Monday that includes new taxes.<\/p>\n<p>While speaking to National Economic Council director Brian Deese, Kernen asked how the White House would tackle spending and whether the government needed to raise revenues.<\/p>\n<p>\u201cI understand there\u2019s a lot of pressure from the progressive wing to get at a lot of the billionaire money, but is that punitive, or is it \u2014 is it necessary that we do that to fund the government\u2019s needs?\u201d Kernen said. \u201cIt seems like we have plenty and should be looking at the expense side of things and I wonder if you think we should be spending another, I don\u2019t know, whatever the latest Build Back Better is going to look like. It doesn\u2019t look like what it had looked like. Were you in favor of adding that to what we already spent on the pandemic the last couple of years and that you can actually bring down the deficit by spending more, you\u2019ve heard that argument from Speaker Pelosi.\u201d<\/p>\n<p>\u201cThere\u2019s a lot of questions in there so let me try to unpack them. I think to your first question the answer is both. I think we need to be very thoughtful about both the expenditure and revenue side of our budget. What you see in the budget we released yesterday is deficits coming down by about $1.3 trillion this year, and that\u2019s a function of both. That\u2019s a function of rolling off some of the emergency spending programs that were put in place by the prior administration,\u201d Deese said.<\/p>\n<p>\u201cWell, that\u2019s pandemic spending, and that\u2019s another \u2014 I don\u2019t know if we should be demagoguing that, bringing the deficit down, when everybody knows that it\u2019s because we\u2019re not going to spend so much on the pandemic and emergency relief,\u201d Kernen said. \u201cWe\u2019re still increasing everything.\u201d<\/p>\n<p>\u201cWell, that wasn\u2019t a \u2014 that wasn\u2019t a guaranteed thing,\u201d Deese responded. \u201cPart of why we\u2019ve seen that progress is because of the really stronge economic growth which both allows us to roll off pandemic spending but also increases tax revenue.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2022\/03\/29\/joe-biden-gasoline-prices-tax-credits-oil-drillers\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Biden Calls For Raising Taxes On Oil Drillers Amid Energy Crisis)<\/a><\/strong><\/p>\n<p>Deese then said the new billionaire <a href=\"https:\/\/dailycaller.com\/2022\/03\/28\/white-house-joe-biden-budget-russia-putin\/\" target=\"_blank\" rel=\"noopener noreferrer\">tax<\/a> isn\u2019t punitive but rather is meant to \u201ccreate a more efficient tax system that doesn\u2019t have these glaring loopholes that allow people to go and earn income, and potentially forever, without that ever being taxed.\u201d<\/p>\n<p>The <a href=\"https:\/\/dailycaller.com\/2022\/03\/29\/joe-biden-tough-putin-question-answer-cheat-sheet\/\" target=\"_blank\" rel=\"noopener noreferrer\">Biden<\/a> administration announced Monday plans for a new minimum tax targeting billionaires, proposing a 20% tax rate for both income and unrealized capital gains. Households wort more than $100 million would be subject to the new tax, with the administration estimating it would reduce the deficit by roughly $360 billion over the decade, according to <a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-minimum-tax-billionaires-unrealized-gains-budget-request\" target=\"_blank\" rel=\"noopener noreferrer\">Fox News<\/a>. Under current law, a gain in the market is only taxed once the asset is sold.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CNBC\u2019s Joe Kernen cut off one of President Joe Biden\u2019s White House advisers Tuesday for budget deficit \u201cdemagoguing\u201d after the administration laid out a budget Monday that includes new taxes.While<\/p>\n","protected":false},"author":74,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1407220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1407220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/74"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1407220"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1407220\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1407220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1407220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1407220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}