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Congressman Billy Long drafts bill making it illegal to tax money Americans have saved in banks. Plus, he shows off his auctioneering talent
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Cyprus is in -- financial freefall and it's government was threatening to raid at Citizens Bank accounts.
That didn't -- -- two on Cyprus but couldn't happen here our government gets financially desperate and then -- our bank accounts.
The US congressman trying to make sure it doesn't happen represented Billy long joins guys you sir.
Good to see you -- -- -- -- so what's your bill.
It's a resolution -- raise awareness and so that that can't happen here's in the congress morning and think about passing legislation that would tax people's savings and -- retirement account to play having their bank.
Analyzing that.
Bank customers for the back to the bank needs to be bailout and so that's what we're doing is trying to raise awareness.
You know expressing what -- in Cyprus a debate over to a went over like a lead balloon.
But they -- the banks rent a lot of trouble and and -- to get this bailout that they people who had savings and they're gonna get skin six to 10% of their savings.
So what plan was up to 15%.
Of their -- that's exactly -- in your retirement account so you get your your minding your bank for your kids' education.
-- -- car to -- your mortgage payments.
And one day you wake up in your government has decided to tax your savings is just ludicrous and that's why we put the resolution on the force to make sure about that happened here.
You know and he'll visit to encourage you to save now I'm in now naming him when I heard that stressed that avenue and I -- money this is nothing gonna come after -- -- think.
Put around on the bank it would nice it -- You know that people would run on the banks and wanna get their money out of the bank could appear in text makes membership I'll take all my money out of -- -- -- trust -- Here's like most you try to think like -- that'll never happen here we don't need a -- like debt.
But -- in in these very soon perilous Financial Times.
Anything is possible I suppose and that's an -- you know what it is and when people get their back against the wall and I need these bailouts I ran against these bailouts and so now they didn't work the first time now that -- -- and Europe and there's you know saying we're gonna take people's money going to -- tax ten to 15% of your murder amounted.
So that's probably brought the resolution of the floor and I've passed thirty people yesterday -- co sign it with my first 27 signed -- industry should send -- the information so we have forty or fifty total.
-- -- more information brought.
Yeah.
Now now I think that -- I would probably been one -- normally if somebody asked me to sound some on the fourth that was sent it to my staff and let me read it.
City dishonor on the floor so that -- is somebody to buy cars again Democrats had not yet but I have talked a few Democrats but -- You know I just -- -- on the Republican side the people and I don't know cannot ask a couple of Democrats and I did send information to some Democrats are -- -- have a lot of bipartisan.
Support on this before -- -- dropping yesterday afternoon light.
Before -- when you say don't -- I ask you how I gonna -- -- first -- massive what do you do before that -- got to share with the viewers -- everybody to control my New -- pleasant what was your job with breaking the congress option -- real estate broker for what thirty years -- in the first auctioneer in congress isn't.
Don't know actually Conrad Burns senator burns was an -- here.
-- you last and Jeff Duncan in my class we're sophomore Sam is our second term -- from South Carolina and also an option here this I know I say no idea of the perfect you know auctioneers voice well thank you develop -- I think that over the years isn't it could get any better I don't know -- about a about a letter -- -- -- -- Letter better -- -- put -- in my battery in my my better better solution about a minute -- better put an -- better -- -- better better better sort of that are -- about a about a bit about a matter is that repeat after me and you should -- I'll -- at a.
At the end thankfully this segment is over we're out of time I got lucky and -- -- nice to see it thank you sir thank -- off.
