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Former Reagan Economic Advisor Art Laffer on the Wall Street protests and what is needed to boost economic recovery.
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But first playing the capital's ratings -- apple bring money just -- evil bankers hiding money He loves this evil.
Count -- Reagan's economics and Dolly art -- for maybe just.
Could to use -- it is a little we are right and and I don't see anyone.
Protesting outside apple headquarters or any of those -- apple stores.
I think that like apple to be honest with the -- -- right.
But you know what it look at these protesters you've got -- we're taking them a little too seriously.
I mean if if you're not if you're not a liberal when you're young you have no heart.
And if you're not a conservative when you're older you have no brain.
These people are all young people track we had all sorts of -- -- -- -- -- and like I was at just perpetually drunk I mean if you're neither.
Liberal or conservative but I digress -- I'm I'm not -- it I'm not gonna go there or -- I think budget up -- look at the riots out in California during the sixties and all of this silly stuff goes on.
And these guys are just young kids play -- -- haven't funded and ruining the slot in the park.
-- -- You know what it what it did it it's not just had a debit down there and and it's not just young people you're right predominantly young people.
But you distinguish between the message of the sixties between the message now.
Obviously there's a lot of angst now it's global in nature well the very big differences between happens in Rome and Madrid and some of these other than but there is a feeling like wait a minute arm.
We don't have a handle on this our leaders don't have a handle on this let's look what generally announced do you make of -- the split -- between.
Apple still on fire and a lot of you know as -- other ways just -- What you know if you look what's going we've had a heck of a bad economy for a long time Neil.
And you know it reminds you of the sixties and seventies you know.
By 79 we have sixteen years of down stock market high unemployment it was a catastrophe.
And there were riots -- protests all over the I mean the race riots across this country until rating him and.
In the two years of Reagan being present there were no rates -- these riots stopped reunions disappeared all that conflict disappeared with prosperity.
If we don't only get the type of spending reductions sound money free trade -- low rate flat taxes we get rid of all these people because they get good high paying jobs.
They be smiling wearing business it's going that there.
Insurance company offices on the weekends to work extra.
But extend their argument is yeah -- -- -- -- job that's a good point aren't a big argument is that got a job.
They they won't be able to be a successful.
As.
-- working stiffs in the past you know and that that that the rich have gotten much much fraternal -- -- -- -- and now that split its -- That there's global held a page -- by that.
Well I don't know I don't think there's global held a pay unless there is no change in government no change of policy.
That -- the further you go with this the -- it gets in the -- -- get some in.
-- -- but if we can change policies in 2013.
We can rectify bring these kids back into the main -- we're -- He via don't want what what do you think would rectified right now -- obvious -- -- orders have been dramatic tax go short but spelled it out.
Well I think what you do is have a low rate flat tax and I think all the Republican candidates are proposing that you know the famous 1999.
But then you need spending restraint something like the -- and -- to reflect cut -- -- balance to really bring that economy back going.
You you need up free trade I mean all the free trade bills -- just brought out we'd really pursue a lot more we need do.
If you let you know I tell -- not like what army data is browsing -- wanted to.
And you're you're you're someone whose -- supporter please nod of approval.
Any Republican -- I would -- for so you stood out to me -- Carolina but not just dismissing Herman -- read out the gate.
You -- a lot of what He was saying why.
But how can you dismiss any of these people.
Because he's got a low rate flat tax would he's got just three tax bases give it is nonsense US got a federal sales tax from there given -- -- -- -- it's very.
That I got a -- What it may not fly but remember is just that candidate in the Republican primaries not even the nominee he's not even present -- hasn't dealt with congress.
All of that can be rectified but what he's done.
-- is -- into the star up in the heavens that that's the target we're gonna shoot for.
And if we.
-- a little bit slower you know that's a brilliant point we where we spent so much time ripping someone for coming up.
With a creative idea that we never take the time to look at the creative I -- Well this -- I have ideas it's very -- And by the way he's not the only one in the Republican group if you look at Mitt Romney's proposal -- 59 up and there's a good yeah I thought I -- be like more edited there is.
-- like c'mon don't do data Tommy I like I would like to I like all the Republican candidates really well but many -- and I don't 59 ideas.
And they're not bad it can't go through reasonably of those -- either they're pretty good repeal obamacare we're keep repeal Dodd-Frank.
Exempt companies under a billion market cap from sarbanes Oxley that's all cool stuff.
I mean they've these guys have all been creative know what -- and -- dead.
Is He got a catchy slogan that really caught the imagination of the world and everyone is talking about 999 in fact.
I -- I got a piece coming up tomorrow's Wall Street Journal.
-- and if you like the three Germans treat the three negative Germans they all they could say was 99 night but it that is just by inciting somebody said that I did -- -- it actually said that.
Aren't always a pleasure -- thank you for Reuters that are ground meals here.
Art Laffer it's -- thank you DL or.
