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Do there them President Obama wants the so called rich to pay their fair share in taxes on the wealthy of course is coming under attack from left and right mostly -- at the -- From -- investments -- live with us from Dallas and Ed at a very answers thing -- on Friday night didn't.
Yeah I sure did I had I represent a lot of professional athletes and I was out to dinner with two of them we're in New York actually.
And we're talking about Obama we're talking about who they voted for before both of these guys were backers of Obama and I think guys let me just ask you -- question.
How would you feel it after you competed and did really well and your support both -- baseball players.
-- that after you did really well when you work your tail off for many many years.
After that someone came to you with that let's fix some of your money -- -- those people warplanes single league baseball and double -- baseball because they haven't done as well as you.
And as -- why wouldn't do that.
As well why wouldn't you went on with -- this whole scenario and it's not perfect scenario but the idea that I left them with was this.
That the top 5% of all wage earners or top percentage of all baseball players okay using that analogy 60% of the federal income tax those are the most recent numbers we have.
And then also 42%.
Of the people pay nothing.
And these guys looked -- me and they could not believe what I just said they to be truly we're just flabbergasted and went.
Why is that that's not fair and I took over really well let's talk about fair share and that's what we started running into it and I think we have two new Republicans by the way.
You know -- it's -- a because the work cleared should work both ways.
You know here's another thing though -- I think about some of the people who come out you know some of the wealthier people particularly celebrities.
And I think I know but we should pay more.
I remember having a conversation in the Green room on not too long ago.
Would George Lopez and He says you would not believe how much I pay in taxes and I'm willing to pay more to help the president out.
However -- major difference between let's say a young pop star 23 years old making millions of dollars and that and that too -- and apparently husband wife.
Who both work the way through college they work for another five or six years of pay off to college bills while raising a family ultimately they have an income of over 250000.
That's an entirely different scenario those people should be offended right.
Well everybody is offended I mean I you know fortunately I also represent people in Hollywood and I will tell you that He is losing his base people are disgusted with the rhetoric -- know.
Right now they know this fair share and -- tax it's just an outright lie and is truly you know we've said it many times on the show its class warfare we all know that people are now becoming better educated and people are turning on him quicker and and quite frankly they're they're -- -- have a discussion about him they truly are running away from someone they supported -- you know four years ago.
I agree with you a 100% it's about really breaking down the information meeting when people really understand the mathematics seven.
I don't think most people really understand that it is high 40% pay nothing nothing at all and taxes zero.
And in and not only that but in New York rate you guys -- -- -- -- what.
30% of what you may after all the taxes and if you have a taxing account -- magnetic -- of all that's left fanatic -- -- -- business.
Right but you know what you know but it's your fault for being successful isn't it that's right that's what you get.
Ed before we let you go we have to talk about these markets.
Typically -- pretty up being your pretty optimistic that we took us a lacking last week and this other point triple digit rally so -- two points and about.
What do you tell people how to people -- right now about this market.
Right right now we're trading a lot on headlines but when the day is done it's all about the fundamentals and again Charles is -- 4045%.
Undervalued based on expected earnings of those expected earnings come down we're still cheap in those expected earnings come down 25%.
We're still cheap.
Buy stocks run away from interest rate sensitive bonds and go to work and help build the economy.
Are you know some people say though the market gets the irrational longer and they can say insolvent ports saying that but I would now -- aggregate numbers -- -- -- Lubbock.
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