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Radio talk show host Neal Boortz on why the U.S. tax system needs to be simplified by moving to a consumption tax instead of an income tax.
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To Neal -- who says when it comes to taxes don't raise them simplify.
Explained you know.
Well simplify -- by getting rid and we've talked about this before the fair tax.
Getting rid of all personal and corporate income taxes are just paying the consumption tax -- It's so very easy but if we had a consumption tax right now Barack Obama couldn't be demagoguing.
People who have private jets.
You know it's this is his DNA -- DNA -- Well there is a marker of evil to Barack Obama poverty means that you are a victim.
Of the wealthy person and if if you don't mind because I'm old you know in the memory finger tip I have some notes.
Well if you took 100%.
Of all of the earnings.
Above 250000.
Dollars in this country took a 100% of those earnings.
And -- total earnings of the fortune 500.
You would not have enough money to run this country past August.
You can take all of the money go out of the economy and you still can't run this country it's like you said -- opening.
This or -- -- -- that said at the opening this is a spending problem brands spending -- you know what has gone up.
One -- absolutely what worries me -- in this today here is whether you're.
For or against it to tax hikes.
The bigger issue here is this spending problem that's out of control so every time we look at these revenue enhancements or another means by which the government you have more money.
That's that's a dollar less of that -- they're committing to getting the spending under control and that does little to solve our long term problem.
I'm even willing to go further than you -- -- -- all right it day after addressing.
These spending restraints.
You still haven't come up -- -- money anywhere or were were we're not at a point.
We're very lean mean and and cash flow efficient.
If you want and it's -- -- and so be it.
I'm against that but so be it but you don't even get to that point without first doing this and they're not.
Wasn't it amazing the way -- Obama.
Played the wealth envy card today by demagoguing over and over and over again.
People that build those wonderful corporate jets that are built in Augusta Georgia and in Wichita Kansas and why hasn't somebody mentioned.
That the corporate tax break he wants to end was part of his stimulus plan so what's he saying now -- my stimulus plan didn't work well.
We all know that big dog.
What do you -- also that if you -- grade student of history be able people forget that when -- remember when they went after that with the dot tax and all of says the bid.
All of a sudden people stop buying dots obviously but then in Indian equity 1991 absolutely -- -- sudden always blazes in the -- Bristol Connecticut that we're making.
These -- since -- votes and they were -- at a fancy cementing jobs that weren't that -- Manson.
So be careful what you wish for you just -- 7500.
Jobs 7500.
Jobs tomorrow -- and when they went after the yacht -- yup.
Tom happens though now I mean that it did you wouldn't argue that -- fair tax very articulating clearly and consistently for years now.
It it it's such a good idea but it almost anything compared to the tax system we have now.
Is a good idea but this particularly stands out.
But the argument against any of these so called alternatives is that.
They're not progressive than the -- end up paying more and the rich get often mean how do you address that.
I'll come on the -- -- up ha.
But -- paid more OK you don't have any payroll taxes you don't have any income taxes you get a 100% your paycheck.
Plus you get a check from the government every month.
For the amount your pain in the fair tax and you end up paying more you're paying nothing if you're paying nothing how in the world are you paying more.
Back doesn't make sense and you know we're blessed in this election -- because we have at least.
Two candidates out there.
Who -- steadfastly on the Republican side for the fair tax one of them is.
Of course is our friend Herman Cain and the other one is Michelle Bachmann and they both intend to.
If they're given the opportunity to implement the fair tax -- a lot of maybe didn't hear the mainstream media doesn't like them you.
Com.
Who will see -- for won't break my heart all right good job as always could see Neal Boortz.
