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CKE Restaurants CEO: President is in over his head

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    Andy Puzder on 'Buffet Rule' vote, GSA spending

  • Duration 5:22
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Hi welcome everyone I'm -- -- infant Neil Cavuto this is -- world.

Tax today one day away and for those who look paying Uncle Sam seems even more painful this year because of where those tax dollars are going.

Lavish parties in Vegas trips to Hawaii.

And today a congressional hearing into how your tax dollars -- being spent.

-- -- almost nearly invited personal friends.

At a conference writing and act quote and this is simply incredible.

Quote.

We'll get you guys a room near us.

Will open up the room -- Could be a -- it's not you -- mining.

-- to taxpayers money.

So given all those questions about spending is this any time to be hiking taxes.

Andy -- there is no fan of the so called Buffett rule he is the CEO of CK -- restaurants and an economic advisor to the Romney campaign.

And -- not a time to raise taxes on the rich especially when was spending out tax money like this.

I assured it's not at all -- -- and in fact this is really just a subterfuge to.

Try and raise capital gains taxes which it was a great article in the Wall Street Journal last week.

Historically when capital -- -- the gains rates go up revenue goes down when capital gains rates go down capital gains -- tax revenue goes up so.

But the whole thing is a it it it really is a subterfuge are trying to avoid talking about bigger issues like the economy like unemployment.

Like the -- like the deficit that we're strapping our children with so.

But if it it's a political it's political it's not this is not a way to raise revenues its income redistribution advanced and political at worst Walt.

Is it a political winner can you tell me that in America today taxing the rich he's a political winning the strategy.

What I hope that it's not I mean that there was a poll that showed there's a lot of support for this but I think.

People number one really didn't understand that it doesn't raise.

Any revenue it's really meaningless from a revenue perspective because the president went out and said that this could.

Released stabilize our debt and deficit for a decade I think that's almost a quote.

Well it turns out that the numbers -- that it won't do that so what you're really end up what does this.

You're an end being from England I'm sure you're familiar with -- European socialist attempt to try and redistribute wealth or or what the concepts of fairness instead of looking to.

Accomplishment achievement free enterprise all the things that the governor Romney's emphasize here it really does draw -- a very.

Distinct difference between President Obama.

Big government European socialism higher taxes big that's big deficits no economic growth and -- and and what would be a president Romney -- governor Romney.

Which is limited government.

We we we base things on success and accomplishment and opportunity.

We don't take taxes up we take him down because we want to increase tax revenues not increased.

Tax fairness or redistribution so.

It really sets these two candidates apart I think very distinct -- in a very meaningful way.

I just want to show you a Fox News poll the question asked was is your tax money spent more all less Catholic today that it was five years ago.

An increasing population of those who responded said look 53%.

Said is being spent less Catholic.

The if that's the backdrop we're not spending out tax money wisely.

It seems like bad timing of the very least to ask for more tax money from anybody at this point the timing is bad isn't.

But partly it's terrible I mean you've got Solyndra.

You've got this GSA testimony today.

You know you've got in -- you've got the government trying to pick winners and losers you've got money going to for political purposes as opposed as opposed economic growth purposes.

It's a very very bailout situation I think it really indicates.

And I don't I don't -- I don't think I know a lot of people think president Obama's a bad guy I don't think he's a bad guy I think he's just over his head.

On these economic issues I think his statement about how this would solve that stabilize the debt and the deficit is a great example -- that.

He just has a problem understanding these issues -- it's not his background.

-- like governor Romney who does have this background.

Let me just play -- quick sound bought from David Axelrod quoted over the weekend talking about the state of the economy got.

I -- and he's not gonna contribute money to the treasury to help with a deficit but listen that's not the way we operate our.

Our tax system OK if we don't run bake sales it's not about volunteerism.

We all can again.

According to the system and the system allows that.

So they have -- the president is not gonna kick in more money of his own to help pay down the deficit he will not right to check as he -- as Warren Buffett wants all the people to write checks last word from you.

I I would encourage you not to write the check I think he's the reason he had lower taxes was because he made a lot of charitable deductions Mitt Romney has lower taxes because -- made a lot of investments.

I think that's the kind of conduct that the tax code encourages right I think it is good results I think the president.

My abiding by the tax laws doing the things that things that the tax laws and -- advised him to do complied with the law and -- shouldn't have to do that but he should stop asking other people to do it.

And get back to fixing the economy.

Getting growth going getting unemployment down getting the -- down reducing the deficit we need to do these things are for going to succeed as a nation -- -- -- -- thanks for joining us we appreciate it.

Thank you assured mountainous.

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