This week, Speaker Ryan sat down with Ben Shapiro for a wide-ranging conversation about the tax bill, entitlement reform, and the future of the conservative moment. Watch the full interview for The Ben Shapiro Show here and check out excerpts from their conversation below.

On the tax bill, “[Democrats] are on the wrong side of history and they are the wrong side of results.”

Ben Shapiro: “Top of the list for accomplishments is the tax bill. And Democrats losing their minds over the tax bill did not look particularly good. It’s fair to point to Nancy Pelosi saying: ‘You’ve given the American people crumbs.’ So how much do you think that will impact the election?”

Speaker Ryan: “That’s going to be the gift that keeps giving, just that statement. Every single Democrat voted against this. I really think they did that because they thought they were going to psych us into defeating ourselves, particularly in the Senate. And when they kept pushing this line, they went so far left, so hard progressive that every single Democrat voted against it. They are on the wrong side of history and they are the wrong side of results. . . .This will put such a strong foundation of growth and opportunity and free enterprise in America, more so than any kind of economic reform in my lifetime, I’m convinced of that. So they are on the wrong side of history. This takes a tax system that was the worst in the industrialized world, and gives us a tax system that we think is in the top three of the industrialized world’s tax systems. That means more jobs in America, more opportunities in America, businesses coming back to America, bringing capital back to America, expanding, and that is a phenomenally good thing. It’s going to give more careers, better wages, better benefits, more entrepreneurship, and the Democrats are against all of that.”

“We believe in equality of opportunity, they believe in equality of outcome.”

Ben Shapiro: “What do you think is the big distinction between right and left in American politics?”

Speaker Ryan: “We believe in equality of opportunity, they believe in equality of outcome. Equality of opportunity means: We want to make sure that we use the guiding principles that build this country— liberty, freedom, free enterprise, self-determination, government by consent—which gives you an open economy, which gives you freedom, which gives you the ability to chart your life the way you want too. And we strive to promote equality of opportunity so that the most amount of people can get the most amount of opportunities possible. And nowhere else is that made more clear than in a free enterprise system, than a democratic capitalism like we have, like our system is, built on natural rights. What the left believes in, and look, you’re asking a conservative what the left believes in, they believe in equality of outcome. The difference in the kind, and size, and role of government you have between what we’re saying and what they’re saying is enormous. Having an equality of outcome agenda means elites in Washington, unelected bureaucrats, micromanage our lives and everything we do in such a way that, they believe that they get to decide what the results of our lives are. That’s very different. That’s a sense of equality which is they make things equal in the end, in the outcome of things. . . .it’s antithetical to our founding philosophy and that at the end of the day is the big difference here. So the fights we have up here in many cases, not everyone, but many cases, are fights of that origin.”

“Liberty and opportunity will be crushed if we stay on this particular path.”

Speaker Ryan: “If we do not get entitlements under control, which we can with more choice and competition, and free enterprising choice, if we don’t get these things under control, we’re going to bankrupt the next generation. We’ve run the federal government—I’ll round the numbers—we’ve run the federal government for the last 60 years, by taking about 20 cents out of every dollar made in America, produced in America, to pay for the federal government. If we do nothing, add no new programs, do nothing, by the time my kids are having kids, we’re going to have take 40 cents out of every single dollar made in America to pay for this government at that time. Before they even go on to doing something else they want to do with their government. So we will bankrupt the next generation. And I actually had the CBO run numbers years ago on what tax rates would have to be, it goes up as high as 88 percent for tax rates, just to pay for this government at that time. So I try to explain to people in dollars and cents just what’s going to happen to them if the left gets their way. They produce this equality of outcome agenda, we don’t reform entitlements, and we stick with this kind of command and control systems…liberty and opportunity will be crushed if we stay on this particular path.”