Shapiro, Audience Slam ‘Young Turk’ Cenk for Advocating ‘Recirculation of Money’

On Sunday, conservative writer and editor-in-chief of the Daily Wire, Ben Shapiro, and The Young Turks’ founder and host, Cenk Uygur, debated a range of political topics, such as taxation, at Politicon in Pasadena, California.

Shapiro, Audience Slam ‘Young Turk’ Cenk for Advocating ‘Recirculation of Money’ Shapirovsyoungturk

Shapiro, Audience Slam ‘Young Turk’ Cenk for Advocating ‘Recirculation of Money’ Shapirovsyoungturk

“You seem to be identifying a higher tax rate in the 1950s with a higher level of growth. So if that’s the case, why not tax everybody at 100 percent and we can have massive growth from here to eternity?” Shapiro asked Cenk, who founded and hosts The Young Turks, a popular left-wing online network.
Cenk Uygur, a self-labeled progressive and an advocate for Bernie Sanders’ policies, argued to the crowd that high income tax rates for the rich in the 1950s and 60s, which reached 91 percent, contributed to America’s expanding economy and booming industry at that time.
Shapiro argued that it had far more to do with the United States’ victory in World War II and the devastation that had occurred in countries that would have, otherwise, provided competition.
Cenk replied: “You’re asking me what the ideal tax rate is and then you did a strawman there for a second and said should be 100 percent, I never said that, in fact I said…”
Shapiro fired back, noting that Cenk had equated high taxes with economic growth:

Quote :: “No, you said the economy grew faster when the top marginal tax rate was 91 percent, so I’m asking you: why shouldn’t the top tax rate, or all tax rates, be 91 percent? You seem to be identifying a higher rate of growth with higher taxation.”

When the audience booed Cenk’s high-tax philosophy, he responded by insulting their intelligence:

Quote :: “The exercise of finding the right tax rate, guys try to follow along, it’s called logic.”

Cenk then touted the concept of using high taxes to “recirculate” money as he continued to chide the audience:

Quote :: “The reason why, for when taxes are higher it winds up being better for the economy, is because it recirculates the money.”

“So, when you give it to the rich-- this is hilarious, if you’re uneducated, at least don’t, don’t make it obvious. So, if you don’t know the concept of recirculation of money, go look it up,” Cenk said in response to the disapproving crowd.

http://www.cnsnews.com/blog/gage-cohen/shapiro-audience-slam-young-turk-cenk-advocating-recirculation-money

Shapiro, Audience Slam ‘Young Turk’ Cenk for Advocating ‘Recirculation of Money’

Shapiro, Audience Slam ‘Young Turk’ Cenk for Advocating ‘Recirculation of Money’

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