David Schweikert: “Once again, back to facts over feelings: After the tax reform, what did we see in our society? It was the first 2 years…”

“Once again, back to facts over feelings: After the tax reform, what did we see in our society? It was the first 2 years that we actually saw income and equality shrink in modern economic times. I thought that was the Holy Grail. Did you see what happened to Hispanics, African Americans' incomes, working poor incomes? The fact of the matter is, if you tell the truth about the post-tax reform model--just maybe because I was in the room--the top 10 percent actually were paying more of the Federal income taxes than prior. Yet that somehow isn't the folklore that we so often hear from this floor. Mr. Speaker, there are couple other points I would like to make. And a couple of this is important because Chairman Beyer actually did a terrific job touching on some of this. And he was making a very powerful point. And, actually, I hate to say this, he was reading part of my script, which actually is a little creepy. The total deposits in commercial banks, if you take a look at this line, have gone up dramatically. It is because too much of the money that we have done bipartisan in the last year to help stimulate and save the economy ended up in pockets of those very, very wealthy, or even medium wealthy, and it ended up sitting in the bank and not circulating, rotating in the economy and helping the workers, helping the working poor, helping those who are just trying to survive.…”