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The big division yesterday now to Dave Ramsey Dave joins us Simon testing on his -- radio so you can also see him on the Fox Business Network every -- -- At 8 PM eastern it's a -- today but I I I trust and think we'll probably get a DL I'm not sure it's.
It's a welcome event but we're probably gonna get something what do you.
-- I think we're gonna get a deal -- it's just now about posturing and you know Democrats -- gonna wanna do good idea which -- do away with capital gains tax which would flood the market with money.
Pretty quickly that that's one point that can happen and I heard the the congressman awhile ago probably was our senator from Texas I didn't catch his name.
-- on your show saying some form of insurance would work and that would free the market up considerably.
I've been -- -- that all week.
And the paint I think they're gonna come up with a deal and I think it's not going to be making Paulson came.
Well yeah I think you're right and they referring to congressman John Carter Texas who had this idea of a middle ground a private middle ground -- I don't think that's gonna happen needed to be honest it.
But but -- to this capital gains point because Nancy Pelosi seem to make it very clear there.
Republicans were apparently -- a cut in the capital gains.
Rate to two.
Spur more investment but presumably from abroad as well.
At a time we probably could use it and that at least from what I I heard there is a non starter what do you make -- Well again I think that's politics and this is bickering -- I don't know what the -- is gonna look like when it's made.
I can tell you this I have never in fifteen years on the radio.
Heard the public's ire on one side of an issue like this Democrats and Republicans alike do not like the Paulson plan and I'm getting I'm getting tens of how is that they don't like review monsters is -- I don't want to saddle at this for Wall Street is that.
But that they don't like the idea of 700.
Billion dollars in debt they think it's dropping an atom bomb on a -- -- and it is it's overkill.
It really has and and good public has common sense man -- -- and they're looking at this thing in they have left their congressman know and their senators know in mass.
By the thousands.
I don't know what poll I was seeing on your thing a while ago but the Dave Ramsey unofficial poll is 99%.
Of the public is against this thing.
They know congress needs to do something -- -- tell -- -- -- the -- -- the Republicans either one stand in the way of something that is a -- debt solution.
It is going to be bloody come election time.
Let me ask you -- because part of of this whole approach debt or what have you is meant to shore up our financial institutions are banks.
Many of them are very very rocky and if we're to believe some of these wire reports tonight David Citigroup and what -- are entertaining a merger.
To -- -- an operation save some money and maybe prevent going out of business.
On are you worried about the safety of our banking system.
Well long term there's and long term meaning in the next several months or weeks if we don't do something apparently we've got some real liquidity problems out there.
I do believe Paulson and Bernanke on that.
Is this 733 billion dollars the only answer.
We've been saying over and over again it's not the only answer there's another plan there's another way to approach this.
And and it will give liquidity -- the markets and there's major economists out there saying this.
People like Newt Gingrich people like Mike Huckabee are blogging about it and you know that these aren't that these these are people who were just doing this from a political standpoint.
It's not about Democrat or Republican now this is about -- -- in the machine so it runs again.
And it doesn't have to be on the -- -- back.
All right did.
Real quickly if this goes through.
The argument was.
That taxpayers will be paid back because we sell this off.
Because the government bought this at a bargain basement price and it makes money on this.
What what do you make -- Well I mean the problem is is is that nobody believes that.
Conceptually if you and I were running yet we could do that the idea that unity today I thought it was a stupid arguments -- Rupert Murdoch was on the show and said it it could happen -- I believe it and I thought.
Yeah -- -- -- that makes sense now.
It does make sense and it could happen if if Rupert were running it he could do it.
But you're asking the federal government to be efficient and no one believes that such -- Well that is good went to.
Dave Ramsey thank you my friend very much I -- -- to be with you I'll see you tomorrow thank you by the way you can catch Dave on the fox -- is -- again every weeknight at 8 PM eastern time.
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