How much should millionaires pay in taxes?
Krauthammer on the rich paying their 'fair share'
- Duration 5:19
- Date Dec 11, 2012
Krauthammer on the rich paying their 'fair share'
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Back -- about segment tonight President Obama insists he will raise taxes on wealthy Americans but how much is fair.
Here now Fox News analyst Charles -- So let's break this down.
Fair is a subjective word aren't -- -- can say that's fair that's not fair.
I'd say most millionaires in America pay between twenty and 30%.
The federal government using the deductions they have in the accountants and swiftly and all that seems a little low.
I think -- -- -- -- what's -- fair share.
There's -- liberals question.
-- it taxation is not a moral issue it's an issue of necessity.
How much is needed to pay for the roads the bridges and to raise -- -- the idea that somehow you decide on what people pay.
On the basis of what you think is a fair amount that should be taken from them.
Look into real pure world ideal world a fair share of taxation.
The founders when they instituted the republic had zero income tax they they taxed.
Excise customs they exercise transactions they tax transactions.
-- for two reasons to achieve certain economic -- like protectionism.
And secondly to raise enough to raise a navy etc.
They never had a conception of a fair idea -- two churches a fairness issue.
That's where you give -- willingly.
You give out of conviction and you give in a moral way taxation is simply a question of how much -- spending how you gonna get it.
Well here's the other side.
Constitution obviously has it in there that the government federal governments -- right tax -- it doesn't define it any clearer than that they just have the right to do it after a hundred and twenty years.
Okay -- would but it's in there that the government has a right to tax and the little roll Obama administration and we both Charles and I agree -- probably is the most liberal.
Administration ever in in -- they say look.
We -- elected.
The folks elected office and we haven't hidden our agenda.
Of elevating all Americas to a certain.
Lifestyle a certain standard of living in order to do that.
We have to take from those who have and give to those who were below the standard of living that we -- and the folks said yes.
That's their argument look.
I believe that when you look at the issue of taxation.
When you ask -- liberals do what's a fair share.
The idea is that the government has a claim on your earnings a moral -- certain amount maybe who knows how much.
And then they can dispense with it as it wants that with a church when it ties you say yes it has -- Claim on your earnings that's what's in the Bible.
And then it spends his it to wishes that's not how well government ought to work a government ought to work from the other and what do we need for roads and bridges.
For raising an army and in the modern economy a modern state.
A safety net for people who can't provide for themselves.
I think you start from there and then you say okay we need X amount if you ask what's the fare share.
Then you're giving the government -- right.
A certain amount of earnings and it could spend anyway it was.
Enormous shouldn't yeah -- -- Americans understand I would think about it in terms of what you need and then how do you allocate I am but I did something to that.
The -- the Obama administration wants to go about -- remember raising the taxes on the rich to 40% which they want only pays the bills for nine days like nine days.
So it's not debt they need this to balance -- budget.
They can't -- the budget the way it is all right with the amount of power that the federal government is going to now.
Of teen from the taxpayer because they want 55% everything you have -- -- when you die.
I had they're gonna comment and take away 55%.
-- -- -- drive in 2010.
That was the one George Steinbrenner -- -- -- may not know I was hoping the -- last week of December just -- that could have been arranged wedding you know.
We want Charles -- I -- -- possibly have friends in Jersey governor I've had friends everywhere you know me but look.
It's a power grab here I know that's what it is Americans don't understand what it is.
It's if you raise the race the way Obama does the four and a half percent on average you get eighty billion dollars a year you -- want to point one trillion dollar deficit.
That's eight cents on the dollar the other 92 cents that we're not getting.
Is spending they won't cut so you can do all the taxation you could confiscate.
-- percent of the wealth of the rich and just take everything I do do.
Who -- Chavez would do.
You still won't get anywhere but we have been an explosion of spending Obama is spending about 24%.
This is a high -- -- -- weren't too.
And -- -- to we have a lot of expenses like thanks but ships not as there are -- Larry -- can verify that those -- post -- average is 20%.
He is just beat gargantuan -- Increased our spending and he won't cut it acts of because that would lessen the power that he wants to accumulate at the federal level I -- Charles Krauthammer everybody a -- --