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Hi I'm Bill O'Reilly thanks for watching us tonight why you -- don't have as much money as you should have that is subject of this evening's talking points memo as we reported last week.
Federal government is now getting a record amount of tax money from us the hard working American public.
And yesterday the Census Bureau issued a new report that -- state and local taxes at record levels as well.
This is why the US economy stagnant American consumers don't have enough money to spend because the tax man is taking the money.
I mean a ten year old can understand this if you drain in the private sector of wealth consumer spending will be affected.
And you can't get out of a soft economy without consumer spending.
This is why for the past five years the economy has been bad in the USA and the folks aren't spending enough.
Now pres Obama we'll tell you he's not a big tax gap listen to -- I know -- -- a lot of folks on cable TV claiming that -- this big tax and spend liberal.
Next time here that you just remind.
The people are saying that that since I've taken office I've cut your taxes.
-- Your taxes today.
The average middle class family your taxes today are lower than when I took off.
But that's -- his spin pure spin.
Was -- and the federal government is getting more tax revenue than ever before and state and local taxes are at the highest level in the history of this country.
More facts state and local income taxes will clock in at more than a 114 billion dollars in the second quarter of this year a record.
-- local sales taxes more than 82 billion a record -- fuel taxes more than eleven billion a record.
Motor vehicle taxes almost eight billion another record property taxes approaching a hundred billion dollars this year.
Record for the second quarter.
So even if you live in San Francisco.
You can see working Americans are being punished by high taxes across the board.
The people we've elected -- taken away our security because we can't accumulated up money to feel secure in retirement.
-- taking away our legacy because we can't -- money on direct children.
They're putting us in danger because we can't protect ourselves from disasters.
Needle with all that money flowing into Washington.
The country is close to a 700.
Billion dollar a year deficit.
And the United States those close to seventeen.
Things are obviously out of control and -- Democratic Party is primarily the blank.
Simply put President Obama his acolytes do not want Americans to accumulate wealth.
They want to -- private well.
Away from those who have it and give it to those who don't.
And they succeeded in doing that -- this -- from the Bush Administration.
Which ran up colossal debt after nonetheless.
Taxes in America have reached critical mass yet Nancy Pelosi says no more cuts are possible.
So unless we the American people the working people why -- up and understand what a bad deal -- get.
Will never have a vibrant economy again.
It's just impossible.
-- -- enough top story tonight reaction with us started -- don't political science professor and I don't cause I must say doctor we're pleased to have you because.
Almost all of the left wing economists were too frightened to come on this program we have a list that we -- not that we do what -- we don't.
But they were scared to death of this because they know what's happening here.
But I'm sure you disagree go ahead.
Well let's start with the census report and that seems to have gotten a lot of coverage about the -- at the state and local level direct income tax you're right it's absolutely increased but there's an enormous misunderstanding about why that has happened and I think that -- to be sent.
Lawmakers expected it to happen and I am not an economist I'm a political scientist and this has to do with politics.
Why the increase in second quarter tax income tax at the state and local level because at the end of 2012.
The fiscal cliff by the politics in Washington many people many investors said we're not can get -- -- actually get bit by a steep tax increase and they started taking steps to avoid that number one.
Number two California voted proposition to increase sales tax and income tax those two things together.
Really account for he had no I am not I am not giving him.
Folks a pass on this because.
To be truthful and to be blunt.
The American people are getting what they deserve because they've been voting for the nanny state entitlements.
And all of this stuff for it.
It's what tool election cycles now.
But the fact remains that.
People living paycheck to paycheck.
I mean the average Americans like 3000 dollars in savings and yet every time they turnaround -- go -- -- -- people.
I got my tax bill on my meals but in my knees -- shouldn't OK -- they actually buckled but I'm much much but I have money I can you know you don't feel sorry for me.
But people if they go to register their car they go to buy gasoline and that's the stuff.
But they beat and that's exactly why we need to be doing what the president has said all along we need to be doing and yet politically and why -- why we need to end the income inequality in this country can -- the government -- area well but the facts and didn't saying that -- you have a party in power who is not willing to go to -- take the steps necessary to do that I socialist -- can't have you need to wait -- There are way way -- -- health care cost doctor yeah haven't cut anything.
The obamacare taxes gonna kick in its three point 8% that's another tax rise -- right.
The Social Security was reinstituted that's two more percent.
They haven't cut a damn thing and you know -- all right but look at your basic thesis of income inequality is socialism don't you get that.
The government cannot impose.
Income equality on -- private marketplace.
Pants didn't look fight going on today this last few weeks over Obama care.
Health care is one of the biggest drivers in our economy you don't get that under control you you -- it's not under control and not a huge fan of obamacare it's not the way it came out.
But at least we've taken steps to try to reform an enormous problem in this country that's that's like.
-- -- -- -- that's like saying -- on the coach of the New York Jets -- and we're not doing well -- fire the whole team and I put little leaguers on the field.
At least I'm taking some steps to do something that's ridiculous look Detroit who -- Detroit -- Democrats correct.
For decades bankrupt Indiana not India Illinois Illinois.
A -- off the cliff.
All right thirty Democrats in this country are run by a Republican governor's -- -- -- up they absolutely are US news and world report did a recent study.
And said that the Republican red states are cutting taxes while the blue democratic states are raising them -- Don't you see what's happening here reading talking -- you talked about the fact that this didn't start with Obama.
Look -- Tea Party movement.
Upset by the spending they are upset by what George Bush was doing that's what got them and we ran out of -- -- -- him out of debt even when the president the current president had gone five bureaucrats get the responsibility for this week -- -- Because they've been in power for five.
Years and the median income was gunned down -- that's why cannot enlist and I am not here to say that what has happened in the last five years it's something that I would fully support -- want.
But how can you expect the president to act -- at every turn everything he's wanted to do has been stopped by republic in the first two years he had control both houses.
He passed Health Care Reform.
That's all and Health Care Reform hasn't hasn't.
-- the economy is an enormous -- it's an enormous economy for you as as a liberal person.
But it's not a liberal critics not -- growers are -- I think that it's not an enormous accomplishment for the economy because it's resulted in less hiring.
OK so -- your your policies are smashing up against the faults.
They might get a break on their health insurance at a lower level.
What does not enough job just short program and health insurance companies when you're talking about Obama there two years he made major he passed major legislation nobody was able to do before and expect a major driver of the time I agree there's a lot more to be done a lot more -- And disaster right now well it's better than it was when he inherited into -- me.
No it's not I don't believe it's better because you -- got -- the recession median income of Americans is down.
So in my opinion that's the driver and it's -- doctor always a pleasure thanks very good -- thank you next on --
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