Sen. Paul: We should stimulate economy by lowering taxes
Kentucky senator on fiscal cliff, spending cuts
- Duration 4:49
- Date Nov 27, 2012
Kentucky senator on fiscal cliff, spending cuts
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Union members not sitting on Capitol Hill to -- all out push for more spending not less.
Leaders don't really want lawmakers to touch entitlements all but they want lawmakers hike taxes on the rich.
Reason enough for senator Rand -- says his Republican colleagues but -- backbone and soon.
Senator good to have you that is by raising your colleague John McCain I don't see that I.
I don't elections have consequences you could make a point about raising taxes the -- in the present -- that argument.
You could argue to what degree though but but it seems like almost on every single -- them.
Are only negotiating on how much the -- right.
-- -- made a commitment to the voters of Kentucky that I didn't think raising taxes is a good idea that we were spending too much that we should cut spending.
I'm still perplexed by this whole idea that a fiscal cliff occurs when you sequester or cut federal spending.
I thought that was a good thing I thought we need to cut more spending so.
I don't even understand why cutting spending or sequestering spending is a fiscal -- -- the other half of the equation on taxes.
I don't think raising taxes is good and everybody seems to agree let's not raise taxes on every one that would be taxed -- -- get on.
But then what about which -- raise taxes on.
40% of the economy that's what we're talking about only 1% of the people but it's 40% of the nation's income.
What do you think am I Xena don't see that or they're scared stiff after the election and reading more into -- -- might be as -- days but didn't seem to be.
Just holding -- it.
Since I think they should be reminded they took a pledge to the voters in their state they campaigned on it.
They said they weren't raising taxes they said that that's what we believed and we believe in stimulating the economy by leaving more money in the economy.
More money in the states more money in the private sector.
And that's what our philosophy is I don't know why -- call -- say a majority of Americans are for sticking it to them.
Yeah I think the thing is is that if you talk to people when you say.
Do you understand that your boss employees -- your boss may be richer than you -- if you.
Tax your boss more that that may be less jobs may not be your job -- it may be the person trying to get a job.
-- that business doesn't expand because their taxes increase and so I think people do get that.
The president did run on on a class warfare sort of class and -- type of argument.
But you know -- got about 40% of the vote in my State's in my state rejected his message.
You know percent of the way things stand now with some of the bubbles -- and and and Senator McCain may be right.
You know it could be a deal in the final hour way to avoid this mess he's kind of split on whether that happens or not but but that.
Most of this stuff I see a consensus of the part of Republicans on revenues.
And not just -- -- -- rate hike but but they might see Don limiting deductions that might end up costing the rich even more.
And -- right I can you feel about.
Well see I'm kind of -- out there on a different -- I think that we should stimulate the economy by lowering taxes.
Somebody -- -- about revenue neutral I will tolerate revenue neutral which means lowering rates and giving up deductions simplifying the tax -- I would tolerate that.
But I'm not jumping up and I'm excited about it because that won't do anything to stimulate the -- put a limit.
And deductions if you -- of the Nazi leader writes a lot of a lot of reply obviously does -- the rates alone will will go with that limiting deductions but.
-- there's -- -- -- the number of math models as you know senators as you -- could leave the rich paying a lot more and others spent a lot more taxes than if you just.
Raise their rates.
It's harmful to the economy whether you raise rates or limited -- its revenue being taken from the productive sector.
The private sector and given to the non productive sector to government so whether it's closing deductions are raising rates they're both harmful to the economy.
They're both a mistake.
If you look back in our history every time we've lowered rates would actually brought in more tax revenues.
What we need is economic growth.
You do not have to raise rates you have to grow the economy we're growing at 1%.
If we're growing at 4% we wouldn't have this so called fiscal collapse.
What do you think of Grover Norquist a moment.
-- -- -- I think Grover Norquist has done a great service of the country and getting so many people to take a pledge.
Because there is some pressure on these people now to go back on their word.
And I think there should be pressure because I think it's -- wrong thing to do so I think Grover Norquist -- Americans for Tax Reform.
I work for them for.
Fifteen years before I was elected getting state legislators to sign this pledge -- -- a huge fan of the -- and I think it does hold people's feet in the far.
And have essentially signed their signature saying they're not gonna raise taxes so they go back on their word.
You know I think they'll suffer the repercussions in their in their next election.
All right senator -- -- thank you.