Sen. Schumer signals new tax hike push is coming
Key to Senate budget plan?
- Duration 7:37
- Date Jan 26, 2013
Key to Senate budget plan?
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Good morning everybody I'm -- -- glad you're joining us -- cash and crude this week mr.
Wayne Rogers Jonathan Hoenig.
Tracy Byrnes Sandra Smith and former Ohio congressman and Fox News contributor.
Dennis Kucinich welcome everybody.
Or get the payroll tax hike forget the other tax -- the fiscal cliff deal senator Chuck Schumer making it no secret this week.
More tax hikes are coming if and when the senate passes a budget.
It's like Phil Mickelson.
You say enough is enough.
And that -- like that did you see your paycheck at least I barely saw -- -- -- a magnifying glass and I'm glad Phil Mickelson spoke out on behalf of all of us the problem though it.
-- -- Phil can only he can afford to pick up and believe -- another one of his homes in this state taxes to do I I can't.
I can't simply have to keep my kids out of school -- -- -- this near city studio -- -- -- to Skype from home I got a live near my job I don't have that luxury.
Hey Jonathan -- are we taxed enough already.
We are indeed and certainly you get to some states like New York like California -- talking about more than 60%.
Of your earnings so it's no wonder that people whether be individuals or businesses.
Are leaving these states in droves high taxes and it is a force so of course high taxes.
Always prompt an exodus when there was Tiger Woods Edwards -- and from FaceBook or even going back to the UK in the seventies The Rolling Stones -- -- if you work in you don't get to keep the product of your -- what are you you're asleep and -- -- California is more than 60% of the way there -- Wayne -- you're in California what do you think the winner of the people in California lawmakers in California.
Going to get the message.
Enough is enough.
Well it's not a question of them getting a message you know the budget -- -- question is spending -- that a cut spending and audited to do this you can't just -- this with taxes that's going on on the national level not just in California.
California's got a big a problem because it's.
-- so -- for so long and done so well for so long and we've got five cities for example the state of California to file for bankruptcy got to worry about the bonds there.
It at all kinds of things with the biggest main problem here is this of that tax.
The state income tax -- just like the federal income tax is a tax on production it's a -- -- productivity.
As opposed to a consumption tax for example of the state of -- of Nebraska governor Heineman is substituting.
-- his sales tax for -- Income tax and you make himself more competitive by doing self.
Our congressman what about is -- -- we don't we have enough tax Reddy ice and we have enough tax revenue yet your beer goes higher but we really have a spending problem.
We have both attacks and a spending problem.
There's no question a government waste a lot of money and people have every right to be upset every time they hear about a tax increase.
We need to look at our monetary policy because frankly that's driving.
People right now should know that a government spent hundreds of billions of dollars wasted on war people in the hotel -- and drop so why give more.
Well the point is that there are ordinary needs have to be met to keep the government going.
And on -- at a state level -- services that are provided state and local taxes provide services that are necessary for keeping a civil society going.
But the issue of waste is a huge issue and it needs to be -- let me brings me -- so the congressman the congressman says.
-- -- -- -- lot of money up there in DC but let's get more but because economy.
And that's the biggest problem people have -- seated at the state level as well like in the state of California where you got 2% of top earnings earners paying.
Nearly half of the State's taxes.
By the way half of the state of California's paying no taxes at all and sometimes they're the ones that are griping about the reason taxes the most.
But here's the problem governor Jerry Brown is cheering on mediocrity -- discouraging success in the state.
When you chase guys like Phil Mickelson who shouldn't be regretting his statements when you chase those top earners out of the -- they are no longer buying cars.
Buying boats buying big house is so the cost of raising these taxes is just a killer on this on a state that's bankrupt -- -- Has anybody remembered that we have the Spiegel national debt and our hands that the -- down she just cross three trillion dollars.
-- knows how to balance a checkbook in Washington DC I just didn't have been speaking more -- my money.
Didn't really may get on the week to week basis these days could you keep taking more and more.
We had nothing to show court except wealthy people -- and more of the burden falling on the middle class I'm not sure why this is.
Resonating Jonathan there's certain when Roger brings -- a great point that they consumption tax maybe a better way to tax people rather than an income tax but.
I do care I -- -- dedicated -- bag ever get a flat consumption based tax for years on this -- American fortunately those in Washington or even on the state level.
Aren't listening I mean that net income tax again it's -- just it's horrific -- -- congressman Kucinich you say that that the rich Levy tax hit sixty plus percent.
To keep the roads clean I think it's I think at that a total bell and it's is hot on its face I don't understand the wealthy people for -- Living -- leaving rich states I mean it's it's not -- self preservation.
You're welcome the product of your life in get in got elected officials come -- and saying no we want 6070%.
It's no different from the mafia from the mob except that they're based in Washington you know not on I'm on the mean street.
I simply -- of people pay their fair share now that the question is -- which is what why are taxes.
Why are taxes so high.
And I say that in this country there -- high because.
We have endless wars.
The war in Iraq will cost us over five trillion dollars -- unnecessary.
People will continue to pay high taxes for that we're expanding our military footprint globally.
People continue to pay taxes for that week we subsidize a lot of major a corporate interest people will pay taxes for that.
The Fed created money out of nothing get -- Wall Street banks we bailed out the Wall Street bank.
Picked winners and losers in -- marketplace I voted against that but will continue to subsidize those practices.
We need in a monetary policy is what we need -- look at what Japan is doing Japan is starting to take its own destiny -- -- chance.
By starting to.
Create the jobs to build a -- construction invest in our country all of I didn't laboring away and you know what better way to play the -- we don't have you know taxi lane when the -- -- -- attacks when the tax -- get so -- the corporate -- trip and we.
The number one in in all of America's number one -- all be developed countries when he gets Ohio will drive businesses overseas are we not sir.
What you already driving businesses overseas that's going on all the -- I mean even for example you take the guys that channel on the board of the General Electric -- with the head of the president's.
Commission on job creation he -- Two weeks after he makes a big speech about it.
Closes down the X ray division of GE and most it to China I mean you got maniacs here running that country that's the biggest problem.
-- had all due respect -- you congressman.
It's the congress to make these decisions and you used the word fair I love it when congress comes down it tells us what is -- Who decides what is -- what does the fair share that you should -- Police giving up more delegates and it's made here one more time to -- -- Disney and need to stop demonizing these businesses that are bringing in these whopping amounts of tax dollars into this country.
Doesn't the government can go make bets on green energy and so littered with that no we're gonna talk about -- that was coming up regularly to there.