Also in this playlist...
This transcript is automatically generated
And -- so much on this show and I've I've said before a lot of it has to do with government intervention.
Could it be that they they've actually held the housing market back we down -- is a former libertarian vice presidential nominee with us right now.
-- housing market not getting any -- Or is it.
K trade secrets he would get from here in a beautiful Las Vegas.
I know the housing market's getting worse every other new study out there has -- -- than in the last month.
That both it and -- -- passage this entire.
Great Recession I.
I actually call a Great Depression because I figured I you don't work over ten million dollars during the real world you're being street is doing business is -- hole.
That is where the ten million or more on this -- depression not recession and it was all caused by the rock and house.
And another study shows it's not getting better the last case Shiller study at the top twenty cities -- just eighteen.
Of the twenty markets in the month of December the last I yes and -- all worked out eighteen and twenty doubt.
And -- some experts and JPMorgan took a look at all that -- sit.
It's all about consumer spending.
When your whole loses all its value he can't get a home equity loan you feel more.
A -- you have no ability to sell your house you can't stand ready.
Two numbers six and 30%.
Of the consumer spending in this country that's how -- present state.
Of the consumer spending this country so it's all about housing and Obama.
By the -- both when I doubt that I think would wipe out to destroy entire housing.
Well here's a thing right just a confidence issue -- if I can't come I have to bums me out I feel like I can't do anything there's that.
We have had so much government involvement though over the last couple years first time homebuyers credit mortgage modifications -- five nothing has worked and we spent.
Lots of money trying to fix this staff.
Now finally we see foreclosures are up again.
They've got an added that robo signing disaster that might be a good sign -- foreclosures are up let's get them out into the system maybe maybe you could argue some things turning.
What agrees and every study group's housing is the root of all of our problems of the entire process and until it gets -- -- -- -- prices.
How can you -- Barack Obama projects they look at it straight face and -- the answer to get a and asked to correct and yet if you drop the prices at every well he almost all -- the tree lighting up 34 set.
You know one of the things you talk about in as far as the even Mitt Romney's tax plan.
President Obama has mentioned the same thing too getting rid of the mortgage interest deduction I'm one who live for my mortgage interest deduction right -- -- the yes.
And I yeah OK yeah I think you make a great point though that are effective tax rates will all go up dramatically without that deduction.
You can back -- -- is -- crazy.
I'm -- -- we've gone from the moment I was born.
To the moment I start in the business world have graduated college until the moment I bought my first house I've always.
-- America you can get a mortgage interest adoption.
All of us play and took fire hole that was all part of the numbers we -- with the bankers and our tax players -- albums you can't pull it out from under.
So Obama's plan is -- And -- the type of person creates jobs this country and save money in this country.
I -- good or gal that's good for the economy.
We're gonna shake -- what -- mortgage deduction.
-- 250000 or more so Scarsdale.
Rocks still a lot of nice save lives it every city in the world.
Beverly Hills Brentwood Austin, Texas eight -- -- -- -- good.
With the house's worth 500000 more dollars and more we're -- see -- drop overnight Egypt Kuwait -- introduction.
By at least 35% you know why I think that's -- the 'cause we all -- 35 right.
-- if you're in the top bracket of income so you change your way up just pure math and economics at Chernobyl is in his life -- -- -- economic.
-- -- -- -- -- early but so let's problematic.
You're still hate your billions -- your house is underwater tell me you hit a basic weighted thirty that well.
That's like we've seen that risk before we seen that story before the moral hazard risk you know why not paying my mortgage and beat myself up when may be my neighbors not.
When I know you have the -- on foxnews.com.
Can you talk about know what it would take.
To see this market -- know what what would you like to see happen in order for this housing market to turn around.
Well first of all -- housing.
Yeah everything else it takes continuity it takes -- what time.
You're gonna be like five years continue down the road I need to know and every business and -- an obese adult.
That Barack Obama is not raising.
Reduced dramatically not take you to.
Well I guess not eliminating my homework deduction not eliminating my charitable deduction -- -- that this'll take my business.
Not just and it usually -- certainty where -- how we're getting what you know your personal.
That's a movie or the book before that was in international best seller.
-- but I have -- it it was all about this right.
-- -- Well we will -- relaxed -- what -- that aren't even -- that you know it's this in its new -- story it's not in my backyard.
Don't think when my deductions but good cut something out and we see we hear the story with entitlements to -- don't -- -- security -- Cut something out and that's -- -- exactly what you're saying right don't -- -- -- though things -- -- imported -- deduction because I mean that's stuff.
Not true to levels well number one is when you you so much wealthier food stamps and check it had not -- Children free lunches it's cool you're taking away you're stealing my money that I heard you're stealing money for the private sector and -- really -- -- to people who didn't -- it.
-- -- And sell itself into -- what I did not kid that's all about the money I heard it will only keep a little bit more Tracy.
I don't think you can make an argument goes to work will -- morally equivalent anyway she performed all of PDT more my own money -- I heard.
And other people to look at is stealing from all of us early and -- that I.
-- and target us and apologize and -- demoralized.
-- just ready to announce my dad was the blue collar butcher you know what he says the best -- -- -- he's his son.
I'd love to hate rich people but I never got a job in that light from the port.
-- amen to that and and I tell you what we're -- you know -- as they just said the administration is demonizing themselves because in theory.
They are the 1% as well so coming down on the 1% that does all the hiring and puts money into -- economy and quite frankly right now he's the majority of the taxes.
Makes absolutely no sense but for some reason.
That -- politically Wayne thank you so much for being with us hey -- -- Let me get one more shot just one -- there okay yeah well when they get better -- Always the best economy in the world they got 15% flat tax 0% capital gains and they leave it up mortgage interest deduction.
-- -- one million dollars and all the charitable deductions you can.
That's a perfect system in the world and luckily for simplified tax plan that's certainly what we need here we Allen read thank you so much -- -- -- our former -- vice president nominee and again check out his piece on foxnews.com.
Filter by section