Lawmakers take off as massive tax hikes loom
Washington ignoring voters' message?
- Duration 8:23
- Date Aug 4, 2012
Washington ignoring voters' message?
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This transcript is automatically generated
Tax hikes we don't need your stink and tax hikes.
Hello everyone I'm trolls mean in for Neil Cavuto and from answering the Wall Street -- the money message for watching and it's getting louder.
Georgia voters saying -- to a statewide sales tax increase taxes.
Republican voters saying yes to the Tea Party candidate for senate.
This does more American companies are voting with their -- spending more money -- stock buybacks and -- amid uncertainty over looming tax -- so.
If the writing -- at -- will be -- even read it.
Have been fine -- -- analyst says he and Charlie Gasparino Charlie went askew will DC ever read the writing.
The -- well I mean I think I think hats I mean I if you think about it President Obama has not to raise taxes.
Yet on the income he's backed off that income.
Going back to the -- to the Clinton tax rates.
I will say this and when you look at what people want a -- people -- -- tax increases.
But it I think the message and I've not seen the definitive poll this by the way but I think the message when you look at some of polling.
Is more nuance they wouldn't -- -- -- people wouldn't mind paying higher taxes.
-- at least they made a real effort to cut the size of government and the -- people would say they'll probably never do.
-- forget about both -- -- we are seeing people vote we are seeing -- in California ball places we're seeing some of the things I just talked about worsening evidence that people flatly saying.
No tax hikes period.
Unfortunately the votes are happening down in Washington where there's so much uncertainty about the future tactic you're talking about how corporations behave.
-- abysmal it is you know that they Alternative Minimum Tax which does two potentially could hit millions and millions of more people the patch expired.
For this year at the end of last year that technically congress have to Gilmore would just that.
Hiding and then on top the bush tax cuts start expiring people do not want their taxes to go up but the bigger question is then.
How will the next leader of this country fix our.
Adam is it that does it come down to that you know ultimately.
It was and I know that this is something a centerpiece of president Obama's reelection run.
All about taxing the rich and those who don't pay their fair share but.
-- that we do you think first of all that's the solutions and do you think it's gonna resonate don't on main street at the end of the day.
What are the issues of main street is it are these very soft -- bully a large issues that you raised would you people don't like do think there's too much government that -- there's too much spending.
They don't want to pay taxes so on the other side of that yes that inequality is a problem the rich don't pay their their fair share and and so line.
I think what you saw in Georgia for example if you ask people.
Do you want your taxes -- they're going to say no.
That's a good example why direct democracies a terrible idea if we want our representatives to make these decisions and I'll just quickly say something good about the Tea Party.
These people are running on what is essentially an irresponsible.
Polish up that -- Good -- they around that.
-- go ahead and let I guess what they target and now they're gonna have the opportunity to govern and faced these problems head on but I do commend them there this is what they're running on.
They're gonna have a really hard time governing -- -- Doug band looks and governing that's gonna come -- -- the election leading up to the election though it's all about this tax debate.
And so far it seems like Americans across the country from red states the blue state that said no more tax increases.
-- we have an incredibly irresponsible -- -- -- is going to be.
-- a great great man a very friendly nice incredibly pleasant guy started us down this road to -- disaster.
With his idea -- -- -- cut taxes and still raise more revenues that turned out to be nonsense didn't work for Reagan didn't work for anyone else it's not gonna work now.
What we're gonna have to do is either raise taxes are dramatically cut spending there is phenomenal unbelievable -- waste in government spending.
Even if they cut out all the ways -- wouldn't in the.
-- I gotta tell you listen you know you and I both -- art -- and you know one day hopefully you -- I love to see you guys do get out but let's face facts you know no matter what we talk about with respect -- taxes -- them are raising them.
If spreading I think but it is good that the not a -- it doesn't matter so isn't the central issue and I think main -- get to but Washington doesn't it's not.
About higher taxes it's about Washington being responsible.
-- just isn't enough discretionary spending to cut if you put in.
Interest on the debt.
-- -- -- security Medicare military spending.
Military bands and government vengeance there's just not downloaded over Charles if you don't traditionally -- -- -- point out that tax revenues went up after the Reagan tax cuts.
And bands right decide I'm down hey Rick he raised his sir sir Charlie he -- -- -- -- from eighty to tell us last month in office well out of -- Well they know we can debate we can debate which came first did the did the -- -- increased because they raise taxes.
What the revenues increased in getting -- that was not a rather you know there is no definitive study.
Charlotte -- yeah.
-- everybody gets generally well enough that we do you know them well it's going to tell you that's it well enough that -- -- -- -- -- wrong string of amazing economic prosperity.
Year after year after year after year.
While waiting to cut taxes yet of course and what -- magazine that would that is not -- -- -- -- that's not true over a little Caylee was horrible that he could bottle that ninety's were horrible the eighty's now the -- is where.
Now the eighties where that I get everything about what I was tired of the bridge Dublin years of Reagan were terrible well what do you want you inherited all of partisan nonsense but we're talking about how -- about a guy that I know it's.
Straight it was I don't do you know -- that article that stated Paul Volcker is there -- -- -- -- -- -- whose relatives bullying that was all about right now let's talk about there was little talk about the idea though that Americans Charlie.
Arts are rejecting this notion though that the average person out there does not think that raising taxes is -- They are because they don't like the fact -- like I said I believe Americans with mine and I Texas clearly I wouldn't.
The problem is that we don't see fiscal sort of restraint at a Washington and why should we raise taxes when the real problems cut the size of government has say one other thing.
I don't Adam is completely wrong about willow went and ran out of -- yeah.
-- taxes go up I'm willing to bet I'm willing to give up something in terms of spending cut that lets you hit.
But that's it -- this country now you want the size of government on term and talk about federal spending in terms of the sides of our economy.
If you want it back down to -- it's been historically and listening to Charles give -- you're gonna have to give up something showed very often it turns to people wanna cut spending until they want people putting something.
That is -- only spot at.
Ability in Washington and they -- -- more taxes but I'll say this -- you're wrong about the Tea Party.
They have no problem governing it's that it's the status quo which had a problem what effect.
You -- I don't wanna get -- off the subject -- but Adam back to the notion of of raising taxes.
Up for me it seems more of a political ploy you know listening rate this a groundswell of NB American -- American it's not true economic policy.
-- it I can't see -- ever work it certainly hasn't worked in Europe.
Well all we have our citizens who are deluding themselves the Georgia situation is a perfect perfect example Republican politicians said we need this money so that you're -- smooth roads and the taxpayers said no because they.
Then rather than doing what was right so we're gonna have a great opportunity today.
They -- -- -- -- not happening now crumbling roads and I hope it's -- Absolutely but it's not good government it's not it's not the why why should people -- just -- live there it's every British.
Government that mean is that what -- that have.
-- -- Washington representative government don't you what you want some bureaucrat in Washington to on the must have -- smooth rides on your representatives said they had not done exactly what you just said.
By the way -- I mean -- you know we use smooth roads we -- beliefs we inspired and we you've always key things all the time to justify.
All of this money that gushes into government coffers that -- A lot of its -- that was beyond -- a lot of his redirected to cronyism.
And paying off political bottlers and things like that but you think Americans wised up to that already.
At that at the local level people have a tremendous amount of control are there money spend it there's fraud in your talent that you -- -- the fraud you don't say I want potholes.
All right let's leave it there guys -- that's that's the debate appreciate it --