Ted Cruz Admits to Being a Corporate Sellout
Republican United States Senator Ted Cruz of Texas loves to douse the public with trickle-down economic fantasies, but on Wednesday, Cruz admitted on live television that he only does so because large corporations dump huge sums of money into his campaign coffers.
“There’s a very simple cause and effect. If you want jobs, you want low taxes and low regulations. If you want to eliminate jobs, raise taxes and increase regulation,” Cruz said on Fox and Friends, the a clip for which he posted on Twitter. “If you look throughout history, when the federal government cuts taxes and reduces regulations we see more and more jobs and we see wages going up. If you want jobs to go away, it’s also a simple cause and effect. You raise taxes and you increase regulation.”
It’s a very simple cause and effect.
If you want jobs, you want low taxes and low regulations.
If you want to eliminate jobs, raise taxes and increase regulation. pic.twitter.com/Fpd536AJxN
— Ted Cruz (@tedcruz) April 28, 2021
Cruz also penned an editorial in The Wall Street Journal complaining about the backlash against Georgia’s new Jim Crow voting restrictions and argued that corporations should pay taxes if they are going to engage in political discourse.
“This is the point in the drama when Republicans usually shrug their shoulders, call these companies ‘job creators,’ and start to cut their taxes. Not this time,” wrote Cruz. “This time, we won’t look the other way on Coca-Cola’s $12 billion in back taxes owed. This time, when Major League Baseball lobbies to preserve its multibillion-dollar antitrust exception, we’ll say no thank you. This time, when Boeing asks for billions in corporate welfare, we’ll simply let the Export-Import Bank expire.”
No deviations from the norm there either, however, the problem arose further down the op-ed when Cruz admitted that he has been bankrolled by corporate America all along:
In my nine years in the Senate, I’ve received $2.6 million in contributions from corporate political-action committees. Starting today, I no longer accept money from any corporate PAC. I urge my GOP colleagues at all levels to do the same. For too long, Republicans have allowed the left and their big-business allies to attack our values with no response. We’ve allowed them to ship jobs overseas, attack gun rights, and destroy our energy companies..
Did Cancun Cruz have an epiphany? Probably not. He simply disapproves of political activism that clashes with his agenda.
As Jonathan Chait brilliantly noted in New York Magazine’s Intelligencer on Thursday:
I am not exactly a fan of the modern Republican Party, and even I think it’s a little unfair and reductive to accuse them of allowing firms to destroy American jobs simply so they can vacuum up campaign donations. But Cruz is confessing to this. Not on a secretly recorded conversation. In public!
If history has demonstrated anything, it is that massive tax cuts for the wealthy end up tanking the economy and harming the most vulnerable segments of the population – while the rich make out like bandits anyway.
So the next time that Republicans say that cutting taxes and gutting regulations are the pathways to economic prosperity, keep Cruz’s words in mind.