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Sen. Rand Paul: Payroll Tax Holiday a 'Quick Fix'

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    Obama-backed extension a good idea?

  • Duration 3:26
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Air Force One touching down a few minutes ago in Kansas.

It's a solid Republican state where President Obama will push to expand extend and expand.

His payroll tax holiday.

He blames Republicans for blocking a deal that would keep more money in the pockets of most Americans.

But there's a big debate over how to pay for the plan.

Joining us on Capitol Hill Republican senator Rand Paul of Kentucky.

Extending the payroll tax senator Rand you have said it's not necessarily.

A good extending the payroll tax holiday.

You say it's not necessarily a good idea why.

-- -- so security is six trillion dollars short of money.

So the president is advocating reducing the funding to Social Security.

When there already six trillion dollar short.

So it doesn't really make any sense and it really argues that.

He's going to bankrupt Social Security even quicker by reducing -- funding because the payroll taxes fund Social Security correct.

-- we're already short we're short of money because there are less workers and more retirees.

We've got all the baby boomers retiring and we're short of money.

So what's he doing he's reducing the funding for Social Security it doesn't make a lot of Santa sort of up a quick fix like you give to a -- You know give people a couple hundred dollars and -- go to the mall everything will be okay.

-- really we need economic growth we need the engine that private sector creating millions of jobs and this isn't gonna do it.

Well the White House trotted out a couple of fancy monitors flat screens next to presidential spokesman Jay Carney yesterday.

At the time it showed the 26 days until until the -- gets 25 days until the payroll tax increases and the president is saying.

Middle class Americans will see their taxes rise by a thousand -- -- if Republicans and that includes you in the senate.

Don't pass some kind of an extension clearly it's a political but it -- -- It is and we also -- actually had our alternative to it I did vote for the Republican alternative.

Which would have done means testing for millionaires benefits for Medicare.

And would have paid for it -- -- hiring freeze in the federal government and freezing federal pay.

If you'll cut spending cut -- funding to pay for this tax reduction.

Even though is not the best idea for says security actually would go along with it if it were paid for a responsible way.

Have Democrats is that Democrats have said that there is eight compromise proposal.

The that they have come up with but I haven't heard too many Republicans say that they have seen the details have you back.

I haven't heard my phone ringing so if the Democrats wanna compromise they haven't reached out to any Republicans that I know -- that is not the essence of compromise you gotta kind of bounce a ball back and forth between both sides.

You'd think so and actually while I think it's a bad idea to reduce the funding for Social Security I am willing to look at a compromise and it's paid for responsibly.

We did put up the Republicans put up a proposal that would have paid for it it's enough reasons and hiring freeze in federal -- And means testing for millionaires for Medicare.

And I think that's a more responsible way than what the Democrats are proposing well I guess we'll see what the proposal is maybe when you find out about a please let us know.

Republican senator Rand Paul from Kentucky thank you.

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