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Senator believes Republicans should let Democrats raise taxes and pay the consequences
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Senator Rand Paul says -- Democrats -- their own grave he says let Democrats raise taxes on everybody.
Senate -- time Republican senate colleagues to vote present on a deal allowing Democrats to push through their tax hikes now.
Why senator Rand Paul want to take that tactic the senator joins -- -- -- sector.
Tiger Adam sounds pretty well you I eat it -- that's good -- Well I think what we should do first of all is put forward what -- for so -- there in the house the house leadership.
Should put forward something that extends the bush tax cuts forever.
And has significant spending cuts.
And I think they passed that.
The Democrats won't accept that and were unwilling to stay by our position that I would say.
Let them pass a tax increase on the upper income folks we'll let him do -- their votes not our votes Republicans vote present in the house.
Democrats can pass the tax increase -- only Democrat votes.
And then the Democrats of the party of higher taxes in the republicans' we're the party lower taxes and I think that's -- -- should be.
I want a house is not gonna go for that do agree the house isn't gonna vote for the Democrats -- out.
Not not saying vote for the bill to raise taxes I'm saying that we vote.
First on a -- says we will not raise the taxes and that is our true position that's what we stand for.
We think that you stimulate the economy -- leading more money in the economy actually lowering taxes that's our philosophy that's who we are Republicans.
So I would pass that the house has passed that previously.
I would pass then again that all.
And that if we cannot get the president to negotiate from that position.
And they are going to give in and don't give -- by splitting the baby given by voting present.
Let the Democrats pass an increase in the upper tax brackets.
Comes over to the senate.
Republicans vote no and it becomes a Democrat tax increase but not a Republican.
Slash Democrat tax increase which -- in the state Republicans.
Republican senator Ron Johnson from Wisconsin says it's not the end of the world if we go to the fiscal cliff although there's some economists and says they'll trust us Barrick could.
Trust us back into recession pretty thing to happen if we go -- -- -- I don't think there is a cliff in the sense that all the sudden tomorrow is something dramatic happens and stock market sometimes reacts.
Quickly but for the most part -- is going to be a recession or not is a much more long drawn out process.
But I would say that it's not a good idea to raise anyone's taxes.
And that the marketplace does not differentiate whether you take the money.
From rich people poor people or middle class the marketplace says if you're gonna take 800 billion are you taking it out of the private sector.
The productive sector and are you gonna give it to the non productive sector in Washington.
Basically this sector of people who are always messing up things in the marketplace.
Are you going to do that if you -- do that's a bad idea.
No matter whether it's rich people middle class -- -- doesn't matter if you take money out of private sector it's a bad idea.
Well it's not as though.
And the -- are gonna go up on the wealthiest Americans come January 1 maybe not to the extent the Democrats want in the Indy in come tax bracket but still is gonna go up thinking more about it Medicare.
Under the health Obama health care they're gonna pay more on their investment income three point 8% as a result that there are higher so it -- there is going to be additional taxes and -- and -- -- things besides.
So taxes are going to go up.
For the wealthiest Americans on January 1 just not as much as Democrats want would you agree.
And yet here's the question how much is enough when will -- have enough.
The thing is is most people in a lot of these high tax states are already paying an excessive amount of their income.
Look at companies now trying to get away from the -- -- -- tax collector look at Google taking their money to Bermuda.
Look at all the corporations you can't stand -- 35% income -- in America that won't bring their money -- Money goes where it's welcomes.
-- they found out that.
About -- -- Who managed to do tax avoidance which is not illegal by putting money in Bermuda and I think they saved two billion dollars in tax avoidance.
What ever serving done by the Democrats and the Republicans to discourage that type of lawful avoidance but nonetheless a huge -- my -- for a very wealthy couple.
I think.
I'm not against them being that in fact I compliment them because that money stayed in the private marketplace.
But I would say to folks who are doing that.
Don't come to Washington agitate for higher taxes if you were avoiding taxes by all means.
Continue to legally avoid as many taxes as you -- because that keeps money in the private marketplace and help to create jobs.
I'm all for that.
But don't then at the same time come and agitate for higher taxes because really what we need -- lower taxes.
Countries around the world are finding out that this is a mistake England raised their -- rates and guess what they got they got lower tax revenue.
When bush tax cuts came into play we lower tax rates that we got more revenues so I think what the main reason I'm opposed to the president's doing is is not going to war.
And it may less give us less revenue and less economic growth so I'm completely opposed the president -- -- before the election and I still -- after the election.
If you look did -- police say you're not opposed to that but if you take let's think big big category 250000.
To three million dollars a year that category.
They can't they don't they don't hide their money and that high but they don't avoid taxes by using Bermuda they can't because they don't have that that -- the -- -- do that number one.
And number and number two is it they don't have all these lobbyists to create these tax set.
They're -- tax code so that they can't do that so there's -- there's this action -- a wealthy class that just isn't the billionaire class.
That -- that is being.
At least that's true it's it's not it is an -- tax cut the way to get a fair tax code.
Is to lower rates and get rid of deductions to people don't happen to avoid their taxes but I will say.
In Google's defense the corporate income tax our country's 35%.
In Canada it's 15%.
In Bermuda I think it's 9%.
All across Europe it's in the twenties money goes to where -- welcome.
Money is not welcome the United States what the president is trying to make it is worse so money and people will -- People will flee if you raise -- taxes they also won't work is -- and you get less revenue not more exactly the opposite of what the president wants.
Well we did this for years years years ever has been promising discrete tax code reform it's all been hearing then maybe we'll get it some time but I'm not holding my breath senate thank you -- Thank you.
